FREDDIE MAC - FMCC STOCK NEWS

Freddie Mac Multifamily reported a strong performance in 2024 with total production volume reaching $66 billion, marking a 34% increase from 2023. The volume comprised $65 billion in multifamily financing and $1 billion in Low-Income Housing Tax Credit (LIHTC) equity investments.

The company supported 507,191 affordable rental units across the United States, with 65% of production volume qualifying as mission-driven affordable housing, exceeding the FHFA's 50% goal. Notable achievements include:

• 93% of financed units were affordable at or below 120% of AMI
• Record $17 billion in Targeted Affordable Housing volume, supporting nearly 133,000 rent-restricted units
• Creation of affordable units for over 23,000 families through forward commitments
• Seven new credit facilities generating almost $2 billion in new funding

Freddie Mac (OTCQB: FMCC) and Intercontinental Exchange (NYSE:ICE) announced technological enhancements to streamline mortgage loan underwriting processes. The collaboration integrates Freddie Mac's Loan Product Advisor® (LPA®) with ICE's Encompass® digital lending platform, offering lenders improved efficiency in loan origination.

The enhanced Encompass Underwriting Center provides access to LPA ChoiceSM feedback messages, employment warranty relief eligibility, and automated collateral evaluation options. The system delivers detailed information about debt-to-income ratios, loan-to-value ratios, and reserves.

According to Freddie Mac's analysis, loans originated using their automated offerings are up to four times less likely to have defects compared to loans without this technology. This automation is particularly valuable for income verification, as income-related issues represent nearly one-third of all purchase transaction defects.

Freddie Mac (OTCQB: FMCC) has announced mortgage relief options for homeowners affected by wildfires in the Los Angeles area. The company's forbearance program offers up to 12 months of mortgage relief without late fees or penalties. Affected homeowners with Freddie Mac mortgages can access these disaster relief options if their property experiences an insurable loss or is located in Presidentially-Declared Major Disaster Areas.

The relief package includes suspension of foreclosure proceedings and multiple options for repayment:

• Lump sum reinstatement (not required)
• Repayment plan with additional monthly payments
• Payment deferral with missed payments added to loan end
• Loan modification for long-term financial hardships

Homeowners are encouraged to contact their mortgage servicers to discuss available options, including those whose employment has been impacted by the disaster.

Freddie Mac Multifamily issued $56 billion in securities through its multifamily risk transfer platform in 2024, effectively transferring various risks from U.S. taxpayers to private investors. The company settled $27.7 billion in K-Deals and $22.1 billion in Multi PC issuances.

Key developments in 2024 included the introduction of Giant PCs and multi-sponsor Q-Deals, along with reaching $24 billion in total Impact Bond issuances since 2019. The company issued $4.3 billion of Impact Bonds in 2024 alone, demonstrating its commitment to affordable housing.

Notable achievements include winning GlobalCapital's CMBS Issuer of the Year award and Environmental Finance's Sustainability Bond of the Year for ML-20. Since 2009, Freddie Mac has settled $738 billion in Multifamily securities through various risk-transfer offerings, with over 90% of eligible rental units funded being affordable to families with low-to-moderate incomes.

Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage (FRM) averaged 6.93% as of January 9, 2025, showing an increase from 6.91% last week and 6.66% a year ago. The 15-year FRM also rose to 6.14%, up from 6.13% last week and 5.87% from the previous year.

According to Sam Khater, Freddie Mac's Chief Economist, the economy's continued strength has put upward pressure on mortgage rates. Combined with high home prices, these factors are affecting housing affordability. The situation is particularly challenging for first-time homeowners due to the lack of entry-level supply in the market.

Freddie Mac (OTCQB: FMCC) has released its 2025 Multifamily Outlook, forecasting an increase in originations despite market challenges. The report predicts rent growth of 2.2%, below the long-term average, and vacancy rates rising to 6.2%. Gross rental income growth is projected at 2% for 2025.

Multifamily origination volume is expected to reach $320 billion in 2024 and increase to $370-380 billion in 2025. The market shows varying performance across regions, with Sun Belt and Mountain West markets experiencing high supply levels and weaker performance, while smaller Sun Belt markets and coastal areas are expected to perform stronger.

Despite short-term pressures from high interest rates and record supply levels, multifamily remains a favored asset class due to economic strength, demographic trends, and housing alternatives.

Freddie Mac (OTCQB: FMCC) has announced the appointment of Jane E. Prokop, Ph.D. to its Board of Directors, effective January 2, 2025. Prokop, currently serving as Executive Vice President and Global Head of Small and Medium Enterprises at Mastercard, brings nearly three decades of experience in financial services, specializing in fintech, product development, and business financing.

Her extensive career includes leadership roles at notable companies, including CEO of Principis Capital, Chief Strategy Officer at Northern Leasing Systems, and executive positions at MortgageIT. Prokop holds a Ph.D. from Harvard University and a B.A. from Boston University. Board Chair Lance Drummond highlighted her strategic insights and financial technology expertise as valuable additions to support Freddie Mac's mission of promoting housing market liquidity, stability, affordability, and equity.

Freddie Mac (OTCQB: FMCC) has appointed James Whitlinger as executive vice president and chief financial officer (CFO), effective January 1, 2025. Whitlinger, who has been with the company for 10 years, previously served as senior vice president and Single-Family CFO since 2014. He has been serving as interim CFO since June 2024, following Christian Lown's departure.

Whitlinger brings over 30 years of financial management and accounting experience to the role. His previous positions include senior vice president at Univest Bank and Trust Co. and executive vice president and CFO at GMAC ResCap, Inc. The appointment represents internal promotion and continuity in Freddie Mac's financial leadership.

Freddie Mac (FMCC) reported that mortgage rates have reached their highest levels since July, with the 30-year fixed-rate mortgage (FRM) averaging 6.91%, up from 6.85% last week and 6.62% a year ago. The 15-year FRM increased to 6.13% from 6.0% last week and 5.89% a year ago.

According to Chief Economist Sam Khater, while rates are elevated and affordability challenges persist compared to last year, there are signs of increased buyer activity as pending home sales rise. The PMMS® survey focuses on conventional, conforming home purchase loans for borrowers with 20% down payments and excellent credit.