RMBS market embraces new STACR structure

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By Sam Kerr
31 Jan 2017

Freddie Mac priced its first credit risk transfer (CRT) RMBS deal of 2017 on Tuesday, with a new structure offering more subordinated debt embraced by investors and saving money for the government sponsored enterprise (GSE).

Freddie Mac followed fellow GSE Fannie Mae to market in issuing a risk transfer deal with a split 'B' tranche. The practice of splitting the lowest rated class was first used by Fannie Mae earlier in January.

However, unlike Fannie Mae, which retained the junior 'B' tranche in ...

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