Single-Family Credit Risk Transfer

Single-Family credit risk transfer programs and investor resources

Through our credit risk transfer (CRT) transactions, we facilitate the flow of private capital between Fannie Mae's lender customers and a diverse group of investors.

How do we manage risk?

Dig deeper into the fundamentals supporting Fannie Mae's credit risk transfer vehicles. Our Single-Family business sets standards in credit risk management.

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Our suite of credit risk transfer vehicles

To support the demand for mortgage credit risk in the market, we have developed multiple innovative forms of risk transfer to private market participants and created a market for securitized mortgage credit risk. Download our CRT Investor Presentation. Our programs include:

Connecticut Avenue Securities^® (CAS)

Learn more about our CAS program, which pioneered a new credit risk market and is designed to share credit risk on a portion of our geographically diverse Single-Family book.

Visit the Connecticut Avenue Securities page for more information and resources, including:

Visit the Transactions page for documentation and data on specific deals, including:

News releases
At-Issuance and Monthly Data
- CRT Glossary and File Layout (PDF) (XLS)
Offering Memorandums and other legal documents

Our Resources for EU Investors page helps institutional investors and those managing funds subject to EU regulations comply with the enhanced due diligence obligations under Regulation (EU) 2017/2402.

Credit Insurance Risk Transfer™ (CIRT™)

Learn more about our CIRT program, designed to transfer risk to insurance providers, who in turn may transfer that risk to reinsurers.

Access the Credit Insurance Risk Transfer page for more information and resources, including:

Summary of Deal Pricing Information

Visit the Transactions page for documentation and data on specific deals, including:

News Releases
At-Issuance and Monthly Data
- CRT Glossary and File Layout (PDF) (XLS)
Insurance Policies and Quota Share Agreements

Seller/Servicer Risk Share

Learn more about our Seller/Servicer Risk Share transactions, which allow lenders to invest directly in credit risk on loans they originate and/or service.

Mortgage Insurance Risk Share

Learn more about our long-standing Mortgage Insurance Risk Share transactions, in which we purchase credit enhancements from mortgage insurance companies in order to transfer risk to private sources of capital.

CRT Commentary and News

Look through the latest commentaries and news to learn more about recent announcements, policy changes, and analysis.

Data Dynamics

Data Dynamics® is our free data analytics web tool, designed to allow users to interact with and analyze the data that Fannie Mae makes available to the market. The platform includes single-family CRT, MBS, and historical loan performance data. Sign up today

Loan Performance Dataset

We provide historical loan performance data on a portion of our single-family book of business to promote better understanding of the credit performance of Fannie Mae mortgage loans.

This data is updated quarterly and includes over 50 data elements per loan. We provide additional resources such as:

Single-Family Credit Risk Transfer