Our innovative credit risk initiatives recently earned honors from influential and respected publications.
Our first Structured Agency Credit Risk (STACR®) transaction earned Euromoney's Global Structured Deal of the Year Award and The Banker's 2014 Deal of the Year for the Americas. And in June, Barclays will include our Multifamily K-Deals in its Aggregate U.S. and Global Bond Index - a recognition of the growing importance of the Agency CMBS sector.
We are leading the way by developing and introducing to the market new ways to share credit risk and giving private capital new ways to finance housing. The market has responded favorably to our efforts and private capital is beginning to take over the risk from taxpayers in small amounts. Through our STACR, K-Deals and reinsurance transactions, we’ve laid off substantial risk on approximately $165 billion of single-family and multifamily mortgages.
The Euromoneycomments about STACR were extremely positive:
"It is not often that a structured-finance transaction attracts almost universal praise from competitors across the market, but Freddie Mac's Structured Agency Credit Risk (STACR®) did just this in June last year." The first STACR deal "established a structural model as well as secondary liquidity for this groundbreaking process."
The honors may not be gold Oscars, but they are just as important to us. The awards acknowledge more than success. They recognize many other qualities like creativity, achievement and hard work.
We are proud of these honors and of our role in creating market innovations that return value to the nation and move housing forward.
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