(Bloomberg) — Freddie Mac bought insurance to cover as much as $285 million of losses on a pool of U.S. home loans, in its third and largest such purchase under a risk-sharing effort encouraged by its regulator.
The taxpayer-backed mortgage giant obtained the policies, tied to loans it bought or guaranteed in the second quarter of 2013, from a group of insurers and reinsurers, Freddie Mac said today in an e-mailed statement.
"We've been gaining quite a bit of traction in the market," Jeff Shue, a director working on the deals, said today in a telephone interview. "We've got some new players involved in this transaction, and they've indicated interest in participating on a consistent basis. We feel confident we will see them again."
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