FREDDIE MAC - FMCC STOCK NEWS

Freddie Mac (OTCQB: FMCC) has announced a fixed-price cash tender offer for the purchase of any and all of certain STACR® (Structured Agency Credit Risk) Notes. The offer begins on October 7, 2024, and expires at 5 p.m., New York City time, on October 11, 2024, unless extended.

The company has engaged Wells Fargo Securities, and StoneX Financial Inc. as lead dealer managers and CastleOak Securities, L.P. as co-dealer manager for the offer. The total consideration will be based on the original principal amount of tendered and accepted Notes, the applicable factor, and the Tender Offer Consideration, plus accrued and unpaid interest.

The Settlement Date is expected to be October 16, 2024. Notes tendered using the Notice of Guaranteed Delivery are expected to be purchased on October 18, 2024. The offer includes various classes of Notes, some issued by STACR Trusts, with Freddie Mac as the sole beneficial owner of each Trust.

Freddie Mac's Primary Mortgage Market Survey® (PMMS®) shows the 30-year fixed-rate mortgage (FRM) averaged 6.12 percent, up from 6.08 percent last week. A year ago, it averaged 7.49 percent. The 15-year FRM averaged 5.25 percent, up from 5.16 percent last week and down from 6.78 percent a year ago.

Sam Khater, Freddie Mac's Chief Economist, attributes the stalled decline in mortgage rates to escalating geopolitical tensions and a rebound in short-term rates. He notes that over the past 12 months, mortgage rates have declined by 1.5 percentage points, home price growth is slowing, inventory is increasing, and incomes are rising, creating an improving backdrop for homebuyers this fall.

Freddie Mac (OTCQB: FMCC) has announced the sale of 982 deeply delinquent non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio. The loans, with a balance of approximately $188 million, are currently serviced by Select Portfolio Servicing Inc., NewRez , and Nationstar Mortgage The transaction is expected to settle in November 2024 and is part of Freddie Mac's Standard Pool Offerings (SPO®).

The winning bidder for the SPO pool is J.P. Morgan Mortgage Acquisition Corp. The pool consists of geographically diverse properties with an average loan balance of $191,700 and an average delinquency of 32 months. Approximately 57% of the aggregate pool balance comprises previously modified mortgages that subsequently became delinquent.

This sale is part of Freddie Mac's ongoing efforts to reduce less-liquid assets in its mortgage-related investments portfolio. Since 2011, Freddie Mac has sold $10.3 billion of NPLs and securitized approximately $79.3 billion of re-performing loans (RPLs).

Freddie Mac (OTCQB: FMCC) has announced mortgage relief options for homeowners affected by Hurricane Helene. The company's forbearance program offers up to 12 months of mortgage relief without late fees or penalties. Freddie Mac emphasizes that safety is the top priority and encourages impacted homeowners to contact their mortgage servicers for assistance.

The relief options include suspension of foreclosure and legal proceedings during forbearance. After the forbearance period, homeowners have several options to make up missed payments, including reinstatement, repayment plans, payment deferral, and loan modification. These options are available to homeowners in Presidentially-Declared Major Disaster Areas and those whose homes or employment have been impacted.

Freddie Mac provides resources for both homeowners and renters through its My Home platform, offering guidance on recovery from natural disasters.

Freddie Mac (OTCQB: FMCC) released its Primary Mortgage Market Survey® (PMMS®) on September 26, 2024, showing the 30-year fixed-rate mortgage (FRM) averaged 6.08%, its lowest level in two years. This slight decline from last week's 6.09% marks a significant drop from the 7.31% rate a year ago. The 15-year FRM averaged 5.16%, up marginally from last week's 5.15%, but still well below the 6.72% rate of the previous year.

Sam Khater, Freddie Mac's Chief Economist, noted that the downward trend in rates is boosting refinance activity, offering homeowners opportunities to reduce their monthly mortgage payments. He also observed that many potential homebuyers are waiting to see if rates will decrease further as new economic data is released in the coming weeks.

Freddie Mac (OTCQB: FMCC) has released its Monthly Volume Summary for August 2024, providing insights into the company's mortgage-related activities. The summary covers various aspects of Freddie Mac's operations, including securities issuance, risk management, delinquencies, debt activities, and other investments.

Freddie Mac's mission focuses on making homeownership accessible to families across the United States. The organization aims to promote liquidity, stability, affordability, and equity in the housing market throughout all economic cycles. Since its inception in 1970, Freddie Mac has assisted tens of millions of families in buying, renting, or maintaining their homes.

Freddie Mac's Primary Mortgage Market Survey® (PMMS®) reveals a decline in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.09%, down from 6.20% last week and 7.19% a year ago. The 15-year FRM averaged 5.15%, decreased from 5.27% last week and 6.54% a year ago.

Sam Khater, Freddie Mac's Chief Economist, notes that rates are approaching the 6% mark, stimulating purchase and refinance demand. He expects rates to fall further following the Federal Reserve's first rate cut in over four years, potentially boosting housing market activity.

The PMMS® focuses on conventional, conforming home purchase loans for borrowers with 20% down payment and excellent credit. Freddie Mac's mission is to promote liquidity, stability, affordability, and equity in the housing market throughout economic cycles.

Freddie Mac's Multifamily Apartment Investment Market Index® (AIMI®) rose 0.3% quarter-over-quarter and 2.2% year-over-year nationwide in Q2 2024. The quarter saw mixed results across metro areas, with 14 markets up, 9 down, and 2 unchanged. Key findings include:

- Net operating income (NOI) grew in 19 metros and nationally quarter-over-quarter, but fell in 14 of 25 markets year-over-year.
- Property prices dropped in most markets quarterly and all markets annually, declining 8.3% nationally.
- Mortgage rates increased by 21 basis points in Q2 and 64 basis points year-over-year.

The slight AIMI growth indicates the market is working towards stabilization after significant volatility. Higher mortgage rates were offset by lower property prices and modest rental income growth.

Freddie Mac's latest Primary Mortgage Market Survey® reveals a significant drop in mortgage rates, with the 30-year fixed-rate mortgage (FRM) averaging 6.20%, the lowest since February 2023. This represents a decline of over half a percent in the past six weeks. The 15-year FRM also decreased to 5.27%.

Despite the improving rate environment, Chief Economist Sam Khater notes that potential buyers remain hesitant due to high house prices and persistent supply shortages. Compared to a year ago, both 30-year and 15-year FRMs show substantial decreases from 7.18% and 6.51%, respectively.