ACIS 2021 Recap and 2022 Outlook
CRT Director, Jeffrey Shue, hosts a webcast to recap a record year for Freddie Mac’s ACIS® program and to discuss the current market environment and strategies for 2022. Guests include CRT Vice President Mike Reynolds, Chief Economist Sam Khater and panelists Charlotte Gladwin of Freddie Mac, Anders Klintoe of PartnerRe and Ben Walker of Aon.
ACIS 2021 Recap and 2022 Strategy
- 2021 is the largest year ever for the ACIS program with 11 transactions equaling $8.2B of issuance – doubling that of 2020.
- Portfolio performance has been strong throughout the pandemic. Freddie Mac saw an increase in delinquency at the onset of the pandemic, but the majority of those loans have since then cured.
- In 2022, SAP will evolve to SPH (high-LTV series) and SPL (low-LTV series) and incorporate 15 and 30-year transactions.
Economic and Housing Market Updates
- Economic growth, employment and inflation will remain volatile with lopsided impacts until COVID-19 recedes.
- All signs continue to point to a strong housing market in 2022 with modestly higher mortgage rates, elevated home sales and slower but historically strong home price growth due to tight supply.
- Lack of housing supply is a long-term threat to the health of the U.S. economy and is driving migration to affordable and less productive locations.
Analytics Panel
- Freddie Mac strives for data transparency. At the start of COVID-19, Freddie Mac enhanced their disclosures to show the various loss mitigation waterfalls.
- Novel data that was not relied on prior to COVID-19 was released during the pandemic to help understand potential outcomes for the market.
Freddie Mac ACIS® 2021 Recap and 2022 Outlook
Disclaimer
This recording may contain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the company's control. Management's expectations for the company's future necessarily involve a number of assumptions, judgments and estimates, and various factors could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements. The company undertakes no obligation to update forward-looking statements it makes to reflect events or circumstances occurring after the date of this press release.
The financial and other information contained in this recording are only as of the dates stated or shown. The information could be out of date and no longer accurate. Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.