WASHINGTON, DC--Greysteel has recruited Duerk Brewer as a Managing Director to lead and oversee the firm's operations and Transaction Services Center. Brewer most recently was a Vice President at Berkadia, in charge of integrating the company's Investment Sales and Mortgage Banking platform. Prior to Berkadia, he was a Managing Partner at Hendricks & Partners.

Fannie Mae's Connecticut Avenue Securities Still Actively Trading

Washington, DC-Fannie Mae has priced its latest credit risk sharing transaction under its Connecticut Avenue Securities series, a $1.32 billion note offering scheduled to settle on Thursday, July 28. After this transaction is completed, Fannie Mae will have brought 13 CAS deals to market since the program began, issued $16.9 billion in notes.

Demand for this particular was monitored a bit more than usual given the confusion in the market over Brexit. Investors continue to show interest in the CAS bonds “and we continue to see active trading in secondary markets, despite recent market uncertainties due to Brexit,” said Laurel Davis, vice president of credit risk transfer at Fannie Mae.

“The loans in the reference pool for this CAS deal have loan-to-value ratios between 60 and 80%,” she said. “We plan to come to market again in early August with our next transaction – CAS 2016-C05, backed by loans with LTV's above 80%, which carry primary mortgage insurance.

For this latest deal, Fannie Mae reported that:

Pricing for the 1M-1 tranche was one-month LIBOR plus a spread of 145 basis points;

Pricing for the 1M-2 tranche was one-month LIBOR plus a spread of 425 basis points; and

Pricing for the 1-B tranche was one-month LIBOR plus a spread of 1025 basis points.

Fannie Mae's Connecticut Avenue Securities Still Actively Trading

For this latest deal, Fannie Mae reported that:

Pricing for the 1M-1 tranche was one-month LIBOR plus a spread of 145 basis points;

Pricing for the 1M-2 tranche was one-month LIBOR plus a spread of 425 basis points; and

Pricing for the 1-B tranche was one-month LIBOR plus a spread of 1025 basis points.

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Berkadia's Duerk Brewer Joins Greysteel | Fannie Mae's Connecticut Avenue Securities Still Actively Trading

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