CRT Quarterly Webcast April 2022
Vice President, Mike Reynolds, provides updates on the CRT programs, including performance trends and secondary market activity.
Guest speaker and Macro and Housing Economics Manager, Venkataramana Yanamandra of Freddie Mac’s Chief Economist’s Office, joins to provide insight into the housing market, inflation and economic impacts from the geopolitical environment.
Q1 2022 CRT Program Recap
- Record quarter for Freddie Mac Single-Family CRT – $7.5 billion Q1 issuance volume
- 8 investment grade bonds issued in Q1 2022 – $3.5 billion issued to over 80 investors in first 3 STACR transactions
- Largest STACR transaction in program history issued –STACR 2022-DNA2
- Highest annual Investor/(Re)insurer base in program history issuance year in program history
- First tender offer of 2022 executed – $2+ billion tendered in STACR 2022-TO1
Housing Market Overview
- Inflation hit 40 years high and show no signs of a slowdown – will likely remain elevated
- Rates up 1.5% over the last year – the largest one year increase this century
- Home prices remain high as the housing inventory shortage continues
Freddie Mac CRT Quarterly Webcast April 2022
This recording contains forward-looking statements within the meaning of Section 27A of the Securities Act. These statements involve known and unknown risks and uncertainties, some of which are beyond our control. These statements are not historical facts but rather represent Freddie Mac’s expectations based on current information, plans, judgments, assumptions, estimates and projections. Actual results or performance may differ from those described in or implied by such forward-looking statements due to various risks, uncertainties and other factors including the following: general economic and business conditions, competition, changes in political, social and economic conditions, regulatory initiatives and compliance with governmental regulations, customer preference and various other matters. Forward-looking statements are made only as of April 14, 2022. We undertake no obligation to update any forward-looking statements we make to reflect events or circumstances occurring after April 14, 2022.
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 The information could be out of date and no longer accurate.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.