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Economic & Housing Market Themes and Outlook: Q3 2022 Research and Insights

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  • Backgrounders January 21, 2021

    WLS (Whole Loan Securities)

    WLS is a credit risk transfer (CRT) security offering backed by single-family mortgages purchased by Freddie Mac. WLS comprises a fully-collateralized, non-synthetic issuance of guaranteed senior and non-guaranteed subordinated certificates. WLS offerings are no longer issued, but past offerings are still active.

  • Backgrounders January 21, 2021

    STACR® SPI (Securitized Participation Interests)

    STACR SPI is a form of credit risk transfer (CRT) in which loans funded by Freddie Mac’s cash window are deposited into a Participation Interest (PI) Trust, in exchange for a Participation Interest (96%) and a Credit Participation Interest (4%) for each loan.