FREDDIE MAC - FMCC STOCK NEWS

Freddie Mac Multifamily awarded BH Management Services as its 2022 Impact Sponsor of the Year for outstanding contributions to affordable housing and tenant advocacy. This recognition highlights BH's commitment to sustainability, diversity, and community development. Managing approximately 100,000 units and owning 50,000, BH utilizes Freddie Mac’s initiatives for reporting on-time rent payments, enhancing residents' financial stability. The award emphasizes a dual mission of profitability and social impact, setting a commendable industry standard.

Freddie Mac (OTCQB: FMCC) has enhanced its Condo Project Advisor tool to streamline the loan origination process for condominium projects. The updated functionality allows lenders to request an automated Project Assessment Request (PAR) to determine project eligibility quickly. This enhancement aims to improve efficiency in financing condominiums, which are essential for affordable housing. By providing actionable insights on project compliance, lenders can focus their reviews and potentially lower risks associated with condominium unit mortgages. This feature is available to authorized lenders starting October 24, 2022.

Freddie Mac (OTCQB: FMCC) recently released its Quarterly Forecast indicating a downturn in the housing market due to rising mortgage rates and decreased demand. The 30-year fixed-rate mortgage is predicted to average 5.4% in 2022 and 6.4% in 2023, up from 3.0% in 2021. Home price growth is expected to slow significantly, from 6.7% in 2022 to -0.2% in 2023. Home sales are also forecasted to drop from 5.8 million in 2022 to 5.1 million in 2023, reflecting a decline in mortgage origination levels, projected at $1.9 trillion in 2023, down from $4.8 trillion in 2021.

On October 20, 2022, Freddie Mac (OTCQB: FMCC) reported a slight increase in 30-year fixed mortgage rates, averaging 6.94%. This marks a rise from last week's 6.92% and significantly up from 3.09% a year ago. The report indicates declining housing market demand and diminished homebuilder confidence, which has dropped to 50% of its peak six months prior. The 15-year fixed mortgage also rose to 6.23%, while the 5-year ARM fell slightly to 5.71%. Upcoming changes to the PMMS will enhance data collection, effective November 2022.

Freddie Mac (OTCQB: FMCC) announced an innovative lending capability that enhances homeownership opportunities by integrating borrowers' bank account data into its Loan Product Advisor (LPA), effective November 6, 2022. This industry-first approach evaluates positive monthly cash flow to better assess a borrower's payment ability, making it easier for first-time and underserved borrowers to qualify for loans. Lenders can submit data from various accounts, ensuring that it only enhances the credit risk assessment. Supported by third-party service providers, this initiative aims to modernize the mortgage process and improve borrower experiences.

On October 13, 2022, Freddie Mac (OTCQB: FMCC) announced the final tender results of its offer to purchase all STACR (Structured Agency Credit Risk) Notes. As of 5:00 p.m. on October 12, approximately $944 million in Notes were validly tendered. The settlement date for these transactions was also October 12, 2022. This offer was executed in line with the conditions set in the Offer to Purchase, dated October 3, 2022. BofA Securities, Inc. and Barclays Capital Inc. acted as lead dealer managers for the offer, which is part of Freddie Mac's ongoing efforts to manage credit risk in the housing market.

On October 13, 2022, Freddie Mac (OTCQB: FMCC) reported an increase in the average rates for 30-year fixed-rate mortgages, hitting 6.92%, the highest since April 2002. The 15-year fixed-rate mortgage also rose to 6.09%, while the 5-year ARM increased to 5.81%. Strong job growth contrasts with inflation and housing affordability concerns, significantly impacting housing demand. Freddie Mac plans to enhance its Primary Mortgage Market Survey (PMMS) starting November 2022, shifting data collection methods to improve accuracy.

Freddie Mac (OTCQB: FMCC) announced the results of its tender offer to purchase STACR® Notes, with approximately $944 million in principal amount validly tendered by the expiration deadline of October 7, 2022. The settlement date for accepted notes is expected on October 12, 2022, with additional purchases on October 13, 2022. The offer was conducted under the terms of the Offer Documents dated October 3, 2022, and involved various STACR trusts. The company is managing the offer through dealer managers BofA Securities and Barclays Capital.

Freddie Mac (OTCQB: FMCC) is enhancing its financing to support the construction and rehabilitation of affordable multifamily housing units. With new flexibilities from FHFA, Freddie Mac plans to increase the use of forward commitments, allowing lenders and developers to better navigate market uncertainties. The FHFA has exempted $3 billion of these commitments from Freddie Mac's $78 billion annual production cap for 2022. This initiative aims to counteract the housing shortage and drive the creation of viable housing options across the U.S.