April 28, 2014 / 8:00 PM / 4 years ago

Fannie Mae eyes mid-May for second risk-sharing MBS of 2014

NEW YORK, April 28 (IFR) - Fannie Mae plans to launch its second risk-sharing MBS of 2014 - and its third one overall - in mid-May, sources told IFR on Monday.

Government sponsored enterprises Fannie Mae and Freddie Mac have sold a total of four risk-sharing MBS out of programs which were set up last year.

The new deal from Fannie Mae, CAS 2014-C02, will introduce loans with up to 80% LTV, a higher leverage than collateral tapped so far under the program.

Investors have heavily supported issuance of the risk-sharing deals from both Fannie and Freddie Mac so far.

Spreads on trades issued off Fannie’s CAS program and Freddie Mac’s STACR program have tightened roughly 100bp since they were issued. (Reporting by Joy Wiltermuth; Editing by Shankar Ramakrishnan)

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