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Freddie Mac, known as FMCC in the stock market, is dedicated to making home ownership accessible and affordable for millions of families across the nation. Established in 1970 by Congress, Freddie Mac provides mortgage capital to lenders, ensuring a better housing finance system for homebuyers, renters, lenders, and taxpayers. They have partnered with various agencies to offer to purchase notes. Moreover, Freddie Mac's Single-Family Credit Risk Transfer programs channel credit risk away from taxpayers to private capital through securities and insurance policies. With a strong mission and commitment to the community, Freddie Mac plays a vital role in ensuring that individuals have access to safe and affordable housing.Rhea-AI Summary
Freddie Mac appoints President Michael T. Hutchins as Interim CEO, adding him to the Board of Directors. Hutchins, with 30 years of financial services experience, will take on the role starting March 16, following the departure of CEO Michael J. DeVito.
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Freddie Mac (FMCC) reports a decrease in the 30-year fixed-rate mortgage to 6.74%, down from 6.88% last week. The 15-year FRM also decreased to 6.16% from 6.22%. Freddie Mac's Chief Economist, Sam Khater, mentions the pressure of sticky inflation affecting rates, which are expected to remain high for a longer period.
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Freddie Mac announces tender results of offer to purchase STACR Notes, with approximately $1.49 billion aggregate original principal amount tendered and not withdrawn. The Offer was conducted in accordance with the conditions set forth in the Offer to Purchase and related Notice of Guaranteed Delivery. BofA Securities, Inc. and Nomura Securities International, Inc. are lead dealer managers for the Offer.
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Freddie Mac's Multifamily Apartment Investment Market Index (AIMI) decreased in Q4 2023 but increased over the full year, reflecting better investment conditions compared to the previous year. Despite high mortgage rates, AIMI showed a positive annual gain, with NOI remaining flat. The market adjusted to higher interest rates with a decrease in property prices, leading to investors paying less per dollar of property income.
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Freddie Mac reports a decrease in 30-year fixed-rate mortgage to 6.88%, prompting a rise in applications after six weeks. Chief Economist highlights the impact of interest rates on purchase demand.
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Freddie Mac announces sale of $120 million in non-performing loans via auction, targeting smaller investors through Extended Timeline Pool Offering. Bids due by April 4, 2024 for Standard Pool Offering and April 25, 2024 for Extended Timeline Pool Offering.
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Freddie Mac initiates a fixed-price cash tender offer for STACR Notes, offering to purchase any and all listed Notes. The tender offer period begins on March 6, 2024, and expires on March 12, 2024. The Total Consideration paid to holders will be based on the original principal amount of the Notes, the applicable factor, and the Tender Offer Consideration. Freddie Mac expects the Settlement Date to occur on March 14, 2024, with purchased Notes expected to be paid on March 15, 2024.
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Freddie Mac (FMCC) announced the pricing of its first Seasoned Credit Risk Transfer Trust (SCRT) offering of 2024, totaling approximately $618 million. The securitization includes guaranteed senior and non-guaranteed subordinate securities backed by a pool of seasoned re-performing loans. The SCRT program aims to reduce less liquid assets in Freddie Mac's portfolio and mitigate credit and market risks. Series 2024-1 includes $585 million in guaranteed senior certificates and $32 million in non-guaranteed mezzanine and subordinate certificates. The transaction is set to settle on March 14, 2024, with underlying collateral of 3,635 seasoned RPLs. Freddie Mac has a history of successful NPL sales and securitizations.
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Freddie Mac reports a 30-year fixed-rate mortgage at 6.94%, reaching a two-month high. Chief Economist Sam Khater notes challenges in home affordability due to rising rates and prices.
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Freddie Mac (FMCC) released its Monthly Volume Summary for January 2024, showcasing details on mortgage portfolios, securities issuance, risk management, delinquencies, debt activities, and investments. The company aims to support homeownership nationwide, ensuring market liquidity, stability, and affordability since 1970.
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FAQ
What is the current stock price of FREDDIE MAC (FMCC)?
The current stock price of FREDDIE MAC (FMCC) is $3.28 as of November 26, 2024.
What is the market cap of FREDDIE MAC (FMCC)?
The market cap of FREDDIE MAC (FMCC) is approximately 2.3B.
When was Freddie Mac established?
Freddie Mac was established in 1970 by Congress.
What is the core business of Freddie Mac?
Freddie Mac's core business is providing mortgage capital to lenders to make home ownership more accessible and affordable.
What are the key initiatives of Freddie Mac?
Freddie Mac is focused on building a better housing finance system for homebuyers, renters, lenders, and taxpayers.
How does Freddie Mac manage credit risk?
Freddie Mac's Single-Family Credit Risk Transfer programs protect taxpayers by transferring credit risk to private capital via securities and insurance policies.
What are some recent achievements of Freddie Mac?
Freddie Mac has engaged in various initiatives to purchase notes, offer Single-Family Credit Risk Transfer programs, and issue Social Bonds to support affordable housing.
FREDDIE MAC
OTC:FMCC
FMCC Rankings
FMCC Stock Data
2.31B
650.05M
0%
1.78%
7.96%
Mortgage Finance
Financial Services
United States of America
McLean