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Bipartisan group of senators to FHFA: Expand, clarify credit risk transfers

By Brena Swanson

A bipartisan group of Senate Banking Committee members wrote a letter urging the Federal Housing Finance Agency to expand and better define the development of the Credit Risk Transfer programs, which shift credit risk from Fannie Mae and Freddie Mac to the private sector.

Together, U.S. Sens. Mark R. Warner, D-Va., Bob Corker, R-Tenn., Heidi Heitkamp, D-N.D., Mike Crapo, R-Ind., Jon Tester, D-Mont. and Dean Heller, R-Nev., sent the letter to FHFA Director Mel Watt, outlining five steps he needs to take to bring transparency to the secondary mortgage market.

Read the full article: Bipartisan group of senators to FHFA: Expand, clarify credit risk transfers