Credit Risk Transfer
Fannie Mae partners with private capital to transfer mortgage credit risk, deepen market liquidity, support capital management, and reduce taxpayer exposure. As a leading manager of mortgage credit risk, Fannie Mae uses disciplined underwriting, advanced analytics, and innovative risk-sharing solutions to manage credit exposure across its book of business.
$3.4T of total unpaid principal balance of mortgage loans have been partially covered by Single-Family CRT vehicles at issuance as of 2Q 2026.
In addition to DUS risk sharing, $224.2B of total unpaid principal balance of Multifamily mortgage loans, measured at the time of the transactions, has been covered through MCAS and MCIRT as of 2Q 2026.
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How do we manage risk?
Our Single-Family and Multifamily businesses employ a comprehensive approach to credit risk management. Explore the key policies, processes, and risk management practices that support our business activities.
Single-Family Credit Risk Management Vehicles
Our Single-Family credit risk transfer programs transfer residential mortgage credit risk to private market participants while providing investors opportunities to participate in the credit performance of our geographically diverse mortgage book.
Multifamily Credit Risk Management Vehicles
Our Multifamily credit risk-sharing and transfer programs transfer commercial mortgage credit risk to private market participants, including lenders, reinsurers, and capital markets investors.