Welcome to our dedicated page for FREDDIE MAC news (Ticker: FMCC), a resource for investors and traders seeking the latest updates and insights on FREDDIE MAC stock.
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.Freddie Mac (FMCC) announced the auction sale of 68 non-performing residential first lien loans (NPLs) to Restora, LLC, which is part of the Extended Timeline Pool Offering (EXPO®). The transaction, expected to settle in January 2022, includes a total unpaid principal balance of $16.5 million, divided into two pools. The loans are primarily delinquent, with 94% of the pool balance consisting of previously modified loans. Freddie Mac aims to reduce less-liquid assets in its portfolio through this sale, having already sold over $8 billion in NPLs.
Freddie Mac (OTCQB: FMCC) announced its 2022 funding calendar, detailing optional announcement dates for Reference Notes and Reference Bills securities. This calendar is accessible on the Debt Securities Auction page at FreddieMac.com. Issuances may fluctuate based on market demands. Auctions will occur weekly on Monday mornings, with adjustments for holidays, closing by 9:45 a.m. ET. This announcement does not constitute an offer to sell or a solicitation to buy these securities. Freddie Mac continues to support housing accessibility through mortgage capital provision.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Multifamily WI K-Deal Certificates, expected to issue about $160 million in WI Certificates (Series WI-K747), scheduled to settle around November 23, 2021. The certificates are backed by fixed-rate multifamily mortgages with predominantly 7-year terms. The A-M class will be issued, carrying a coupon of 1.75200% and a yield of 1.74188%. Co-managers include Citigroup Global Markets and J.P. Morgan Securities.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates, specifically the K-134 Certificates, backed by fixed-rate multifamily mortgages. The offering is approximately $1.1 billion and is expected to settle on or around November 24, 2021. Key details include varying principal amounts, weighted average lives, yields, and spreads across different classes such as A-1 and A-2. Freddie Mac aims to transfer risk from taxpayers to private investors through these instruments, enhancing options for multifamily investments.
On November 18, 2021, Freddie Mac (OTCQB: FMCC) reported the results of its Primary Mortgage Market Survey, revealing that the 30-year fixed-rate mortgage averaged 3.10%, up from 2.98% the previous week, and 2.72% a year ago. The 15-year fixed-rate mortgage rose to 2.39% from 2.27% last week, while the 5-year ARM decreased slightly to 2.49%. Chief Economist Sam Khater indicated that rising inflation and consumer spending are driving mortgage rates higher, indicating a challenging housing market due to strong demand amid inventory shortages.
Freddie Mac (OTCQB: FMCC) has announced a new offering of approximately $734 million in Structured Pass-Through Certificates (K-F125 Certificates), expected to settle on November 23, 2021. These certificates are backed by floating-rate multifamily mortgages indexed to the Secured Overnight Financing Rate (SOFR), with a weighted average life of 6.75 years. The offering has one senior principal and interest class and an interest-only class, not rated but guaranteed by Freddie Mac. Co-lead managers include BofA Securities and PNC Capital Markets.
Freddie Mac announced a year-to-date Credit Risk Transfer (CRT) issuance of $14.5 billion, safeguarding $585.5 billion in single-family mortgages. In Q3 alone, CRT issuance reached $4.6 billion, covering $166.6 billion in mortgage balances. Freddie Mac continues to lead the CRT market, engaging over 130 unique participants. Notably, the largest-ever transaction, ACIS 2021-SAP7, was issued at $1.2 billion. Since 2013, the CRT program has transferred approximately $81 billion in credit risk on $2.5 trillion in mortgages.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Multifamily WI K-Deal Certificates, expected to generate approximately $185 million in funding. This offering, known as Series WI-K137, is scheduled to settle on or about November 16, 2021. The certificates will initially be backed by cash assets and then by a pool of fixed-rate multifamily mortgages predominantly with 10-year terms. Co-lead managers for this offering are BofA Securities and Wells Fargo Securities.
Freddie Mac (OTCQB: FMCC) has priced a new offering of approximately $933 million in Structured Pass-Through Certificates (K-746 Certificates), backed by fixed-rate multifamily mortgages with mainly 7-year terms. The issuance is expected to settle around November 18, 2021. The K-746 Trust will issue additional certificates not guaranteed by Freddie Mac. The K-746 Certificates are designed to transfer some risk away from taxpayers to private investors, making them a strategic part of Freddie Mac's business model.
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