You are wrong. It is the reason for today's pop. I posted earlier tonight at around 947 pm with more details. The news about the CAS came late today at around 330 pm. More buying will take place Friday morning as more investors digest this news.
I can't imagine that to be the reason for today's volume spike and price movement.
But I love the crowdsourcing of information. So keep it up team F+F!
This is a not a new rating or an unusual one. I do not know why or how the spike occurred.
This reported transaction is one of the 16 risk transfer transactions of Connecticut Avenue Securities, series 2017-C01 (CAS 2017-C01) "issued as part of the Federal Housing Finance Agency's Conservatorship Strategic Plan for 2013-2017 for each of the government sponsored enterprises (GSEs) to demonstrate the viability of multiple types of risk transfer transactions involving single family mortgages. "
This level of rating has been reported before without a spike in FNMA share price.
Risk Magazine awarded Fannie Mae's Connecticut Avenue Securities™ program the Sovereigns, Supranationals, and Agencies (SSA) Deal of the Year for 2017. The Risk Awards spotlight the best practices in risk management and derivatives markets that result in positive outcomes for the client.
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