CRT Quarterly Webcast July 2022
Mike Reynolds, vice president of Freddie Mac Single-Family Credit Risk Transfer (CRT), provides program and housing market updates for 2022, and recaps the record year for Freddie Mac CRT in the first half of 2022. Guest speaker Michael Bradley, senior vice president, Single-Family Modeling and Analytics, joins Mike to share his thoughts on Freddie Mac’s innovations in machine learning.
Q2 2022 CRT Program Recap
- Freddie Mac Single-Family CRT had another big quarter: $7.4 billion issuance volume.
- We introduced new cash-out refinance only and ACIS one-month forward deal types.
- We welcomed 162 unique participants as of 2Q 2022, with 29 new participants across STACR and ACIS in the first half of 2022.
- Clarity Data Intelligence continues to provide value-added analysis and has been recognized by the American Business Awards and FinTech Futures Awards.
- We executed the second tender offer of 2022: $2+ billion in STACR 2022-TO2.
Housing Market Overview
- Rates up 2.7% over the last year; had the largest one-year increase this century.
- Housing market slowing, with softer purchase applications, declining home sales and housing starts.
- Home prices remain high as the housing inventory shortage continues.
- Refinance has almost dried up.
Freddie Mac CRT Quarterly Webcast July 2022
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 The information could be out of date and no longer accurate.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.