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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 announces updated Single-Family Social MBS and Corporate Debt Bonds Framework to support underserved borrowers. The company aims to provide mission-driven investment opportunities and actionable information to MBS investors. The framework includes the renaming and reformulation of the Mission Index and sets criteria for eligible mortgage collateral. The company plans to provide Social MBS impact reporting annually beginning in 2025.
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Freddie Mac Multifamily announced that its 2023 volume totaled over $49 billion, including $48.3 billion in multifamily financing and over $883 million in Low-Income Housing Tax Credit (LIHTC) equity investments. The company exceeded its mission-driven affordable housing targets, supporting 423,177 affordable rental units across the United States. 66% of 2023 production volume qualified as 'mission-driven affordable housing,' surpassing the 50% goal set by FHFA. More than 67% of goal-eligible units financed through loan acquisitions were affordable to low-income residents earning less than 80% of area median income (AMI), and more than 20% were affordable to very low-income residents with incomes no greater than 50% of AMI, surpassing both goals. 92% of all units financed in 2023 were affordable at or below 120% of AMI.
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Freddie Mac reports a decrease in mortgage rates, with the 30-year fixed-rate mortgage dropping to 6.60 percent, the lowest level since May 2023. This is encouraging for first-time homebuyers but could put pressure on the already depleted housing inventory.
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Freddie Mac (FMCC) appoints Roy Swan, an experienced executive in law, banking, corporate finance, and investment management, to its Board of Directors. Swan's extensive background in financial services and impact investing makes him uniquely qualified for the role. His election is set to take effect on February 19, 2024.
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Freddie Mac (FMCC) reports 30-year fixed-rate mortgage averaging 6.66 percent, causing homebuyer demand to increase slightly. Affordability remains a major headwind for buyers, with prices rising faster than incomes.
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Freddie Mac (FMCC) reports 30-year fixed-rate mortgage at 6.62%, with expectations of further downward drift due to potential rate cuts and receding inflationary pressures.
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Freddie Mac (FMCC) issued over $53 billion in multifamily securities in 2023, transferring risk to private investors and fulfilling its countercyclical role in the rental housing market. The company adapted to market demands, increasing its Multi PC issuances by 30% and executing its first fully guaranteed K-Deal. It also issued $4.7 billion in Green, Social and Sustainability Impact Bonds.
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Freddie Mac (FMCC) published the 2023 NAIC filing year designations for its STACR REMIC Trust, STACR Trust, and STACR Debt Notes, with 94.95% achieving NAIC 1 Designation. 38 STACR Notes had NAIC Designation upgrades relative to 2022, showing positive market performance.
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Freddie Mac (FMCC) reports 30-year fixed-rate mortgage at 6.61%, down from 6.67% last week. The 15-year FRM averaged 5.93%, down from 5.95% last week. The PMMS® focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with 20% down and excellent credit.
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Freddie Mac (FMCC) Monthly Volume Summary for November 2023 Released
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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