This article takes a closer look at the COVID-19 disruption’s impact on the GSE CRT market—including subsequent changes to new issuance deal structure, pricing, and capital markets versus reinsurance allocation. Post-COVID-19 GSE CRT issuances have featured increased credit enhancement for issued tranches, increased pricing levels, tightened reinsurance versus capital markets pricing, and some changes in the reinsurance versus capital markets allocation.
The GSE CRT market reopens post COVID-19 disruption: A new normal? Or more troubles on the horizon?
30 September 2020
The GSE CRT market reopens post COVID-19 disruption: A new normal? Or more troubles on the horizon?