Freddie Mac tweaks CRT programme with eye on post-conservatorship

Freddie Mac has changed the structure of its latest credit risk transfer (CRT) deal to reduce counterparty risk for investors in the event that the agency is no longer under conservatorship.

  • By David Bell
  • 24 May 2018

Government sponsored mortgage agency Freddie Mac priced an $880m structured agency credit risk deal on Tuesday, 2018-HRP-1.

The deal was the first CRT deal from the agency to be issued by a special purpose trust, rather than being sold as Freddie Mac debt.

Isolating the structure in a ...

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3 Citi 4,296 9 9.40
4 Bank of America Merrill Lynch (BAML) 3,067 11 6.71
5 Lloyds Bank 2,346 10 5.13

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