CRT outperforming other RMBS
Fannie Mae and Freddie Mac's credit risk transfer (CRT) programmes have outperformed other non-agency RMBS, with the first loss pieces of recent deals yielding 5% on average in January, according to JP Morgan research.
“Year-to-date returns show the CRT sector on fire with first loss CRT returns roughly 5% in January," said a Friday note from the bank.The note added that it is difficult to imagine that the sector will continue to outperform the rest of the market, but the analysts ...
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