FHFA Statement on Freddie Mac Risk-Sharing Transaction
On July 24, the FHFA announced that Freddie Mac is nearing completion of its first risk-sharing transaction, a direct debt issuance, that will assist Freddie Mac in transferring credit risk to the private sector on recently-acquired, single-family loans. FHFA Release.
SIGTARP Quarterly Report
On July 24, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) released its quarterly report to Congress, which, among other things: (i) summarized various SIGTARP investigations and (ii) discussed the rising redefaults of mortgages modified pursuant to HAMP. SIGTARP Report.