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Credit Risk Transfer Progress Report

Credit Risk Transfer Progress Report 4Q2022

Published: 5/31/2023

​​​​​​​​​​​The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the private sector through a variety of transactions in both the single-family and multifamily markets.

From the beginning of the Enterprises' Single Family CRT programs in 2013 through the end of 2022, the Enterprises transferred a portion of credit risk on approximately $6.2 trillion of unpaid principal balance (UPB), with a combined Risk in Force (RIF) of $197 billion, or 3.2 percent of UPB. In 2022, the Enterprises collectively achieved the highest level of single family CRT issuance volume since the inception of the CRT programs. The Enterprises transferred a portion of credit risk on $1.1 trillion of UPB in 2022.

​See the document below for more detailed information.

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