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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 (FMCC) Multifamily's loan purchase cap for 2024 will be $70 billion, with 50% of loans purchased required to be mission-driven. This includes loans supporting affordable housing, workforce housing, rural properties, and energy- or water-efficiency improvements. Loans classified as supporting workforce housing properties will be exempt from the 2024 volume cap, encouraging affordability preservation. FHFA's updated criteria for Freddie Mac's mission-driven business aim to provide liquidity, stability, and affordability to the multifamily market, emphasizing the countercyclical role of Freddie Mac.
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Freddie Mac (FMCC) announced the tender results of its offer to purchase any and all of the STACR® (Structured Agency Credit Risk) Notes. Approximately $2.1 billion aggregate original principal amount of the Notes had been validly tendered and not properly withdrawn. The settlement date for the Notes tendered and accepted for purchase in the Offer is expected to occur on Tuesday, November 14, 2023.
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Freddie Mac (FMCC) reports 30-year fixed-rate mortgage averaging 7.5%, down from last week, largest one-week decrease since last November. Household debt continues to rise, straining consumers. 15-year FRM also down to 6.81%.
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Sara Mathew, the current Board Chair of Freddie Mac, will retire in February 2024. Lance Drummond, a member of the Board since 2015, will succeed her as the new Board Chair.
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Freddie Mac has announced a fixed-price cash tender offer for the purchase of any and all of the STACR® Notes listed. The tender offer period will commence on November 3, 2023, and expire on November 9, 2023. The applicable Total Consideration to be paid by Freddie Mac will be calculated based on the original principal amount of the tendered and accepted Notes, the applicable factor, and the applicable Tender Offer Consideration. The Settlement Date is expected to occur on November 14, 2023.
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Freddie Mac's Primary Mortgage Market Survey® (PMMS®) reveals that the 30-year fixed-rate mortgage averaged 7.76 percent, slightly lower than the previous week's average of 7.79 percent. The 15-year fixed-rate mortgage remained unchanged at 7.03 percent. The Federal Reserve's decision not to raise interest rates, coupled with geopolitical uncertainty, may impact the housing market and overall economic landscape.
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Freddie Mac has posted its 2024 funding calendar, which includes announcement dates for Reference Notes® securities and Reference Bills® securities. The calendar is available on FreddieMac.com. Reference Notes issuances and Reference Bills auctions may vary in size and frequency. If Freddie Mac uses one of the optional Reference Notes announcement dates, they will announce the issuance in a press release. Reference Bills auctions will be optional each week on Monday mornings, closing at 9:45 a.m. ET.
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Freddie Mac reports its Third Quarter 2023 financial results, filing its Form 10-Q with the SEC. The company's mission is to make home possible for families across the nation. They promote liquidity, stability, affordability, and equity in the housing market. Since 1970, they have helped millions of families with home ownership.
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Freddie Mac (OTCQB:FMCC) will report its Third Quarter 2023 financial results on November 1, 2023. The company will hold a call at 9 a.m. ET to share the results with the media. The call will be webcasted and the replay will be available on the company's website. Freddie Mac's mission is to make home possible for families across the nation.
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Freddie Mac's Primary Mortgage Market Survey reveals that the 30-year fixed-rate mortgage averaged 7.79 percent, marking the seventh consecutive week of rising rates. Chief Economist Sam Khater expresses concerns about the impact on potential homebuyers and calls for lower rates and greater inventory to address affordability challenges.
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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