In 2013, both Fannie Mae and Freddie Mac, government-sponsored enterprises, initiated risk-sharing initiatives in order to transfer credit-risk from taxpayers to investors in the private sector. The institutions remain under the control of the FHFA while working toward this shift in financial burden, and it seems that they’ve been quite successful, to the tune of hundreds of billions of dollars in unpaid principal balance.
Urban Institute’s ‘Monthly Chartbook’ for March of 2016 indicated that the GSEs exceeded their credit-risk transfer goals for 2015 by $37 billion (Fannie Mae) and $90 billion (Freddie Mac).
Kevin Palmer, SVP of Single-Family credit risk transfer for Freddie Mac was quoted saying, “We are very pleased about the continued partnership Freddie Mac has developed with the reinsurance market. This market has proved to be a durable partner for credit risk transfer.”
FHFA's Overview of Fannie Mae and Freddie Mac's Credit Risk Transfer Transactions as of August 2015 can be read on their website.