Podcast | November 17, 2021

CRT Then and Now, A Conversation with Don Layton

Mike Reynolds
Senior Vice President and Head of Servicing

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CRT Then and Now, A Conversation with Don Layton

Mike Reynolds

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Don Layton, former Freddie Mac CEO, joins Mike Reynolds, VP of Single-Family Credit Risk Transfer, to discuss the inception of the GSE CRT market and how it supports Freddie Mac’s mission. Don and Mike dive into the benefits of CRT, address its criticisms and reflect on CRT’s core role in today’s financial system.

Mike Reynolds

Senior Vice President and Head of Servicing

Mike Reynolds is Senior Vice President and Head of Servicing for the Freddie Mac Single-Family Portfolio and Servicing Division. He is responsible for the outcomes related to collecting mortgage payments due, loss mitigation programs and asset disposition for the Single-Family portfolio.

His team partners with numerous industry partners to manage the financial and credit risks that exist in the servicing ecosystem. Mr. Reynolds also leads the Single-Family climate risk assessment function.

Prior to this role, Mr. Reynolds served as Vice President of Credit Risk Transfer (CRT) in the Investments and Capital Markets Division and was responsible for pioneering the CRT program, transferring single-family credit risk to private investors via STACR^®(Structured Agency Credit Risk) securitization and ACIS^® (Agency Credit Insurance Structure) re-insurance programs.

Mr. Reynolds has over 25 years of government-sponsored enterprise experience and joined Freddie Mac in 2012 to help launch the Single-Family CRT program. Prior to Freddie Mac, he was vice president of strategic initiatives at Fannie Mae. Earlier in his career, he worked on automated underwriting.

He holds a Master of Science in finance from George Washington University and a Bachelor of Science in business administration from Northeastern University.

CRT Then and Now, A Conversation with Don Layton

CRT Then and Now, A Conversation with Don Layton

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