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Freddie Mac (FMCC) is a cornerstone of U.S. housing finance, providing liquidity to mortgage markets through innovative solutions like credit risk transfers and loan securitization. This page serves as the definitive source for Freddie Mac news, offering investors and stakeholders timely updates on operational developments and market impact.
Access curated press releases and analysis covering quarterly earnings, risk-sharing initiatives (including STACR notes), regulatory updates, and strategic partnerships. Our repository helps users track FMCC's role in maintaining housing market stability while managing systemic risks through private capital engagement.
Bookmark this page for direct access to Freddie Mac's latest multifamily financing programs, single-family mortgage innovations, and housing affordability initiatives. Stay informed about developments affecting mortgage-backed securities markets and FMCC's evolving position in government-sponsored enterprise operations.
The Freddie Mac Multfamily Apartment Investment Market Index (AIMI) remained stable in Q1 2021, despite a 0.1% decline after two quarters of growth. Positive net operating incomes (NOIs) and low mortgage rates supported the multifamily investment environment. Quarterly, 13 markets grew while 11 contracted. Tampa and Phoenix recorded strong NOI growth of 3.1% and 2.7%. Yearly, the AIMI rose in 15 markets, but New York and San Francisco faced significant NOIs drop of 16.5% and 21.7%. Overall, property prices increased in 22 out of 25 markets, yet mortgage rates decreased by 42 bps.
Freddie Mac (FMCC) has issued $230 million in Social Bonds aimed at supporting 1,267 rental homes across 39 states and the District of Columbia for individuals with intellectual and developmental disabilities. This transaction addresses the pressing need for community-based housing, providing approximately 90% of the units to individuals earning 50% of the area median income. The issuance is backed by a pool of Multifamily PCs and aligns with the company's commitment to social impact, fostering affordable housing and socioeconomic opportunities for underserved communities.
Freddie Mac (OTCQB: FMCC) has extended the deadline for requesting new COVID-19 forbearance agreements for its Multifamily loans to September 30, 2021, from the previous June 30, 2021. This extension aims to support multifamily operators facing hardships due to the pandemic and includes tenant protections, such as a moratorium on evictions for non-payment of rent. As of the latest report, 1,154 loans are in forbearance, accounting for approximately 2.1% of total securitized unpaid principal balance, with more than 82% of borrowers resuming payments post-forbearance.
MCLEAN, Va., June 3, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) released its Primary Mortgage Market Survey indicating that the 30-year fixed-rate mortgage (FRM) averaged 2.99% for the week ending June 3, 2021, up from 2.95% the previous week. A year ago, the average FRM was 3.18%. The 15-year FRM remained at 2.27%, while the 5-year ARM rose to 2.64%. Freddie Mac's Chief Economist noted ongoing home price acceleration and low inventory, emphasizing refinancing opportunities for homeowners amidst strong competition for buyers.
Freddie Mac (OTCQB: FMCC) has announced the pricing of approximately $994 million in new Structured Pass-Through Certificates (K-F113 Certificates), backed by floating-rate multifamily mortgages indexed to the Secured Overnight Financing Rate (SOFR). The certificates are set to settle around June 11, 2021, and feature a weighted average life of 6.58 years. The pricing details include a discount margin of 30-day SOFR avg + 23, and the offering is led by Barclays Capital and BofA Securities. The K-F113 Certificates do not carry a rating and include various classes.
Freddie Mac (OTCQB: FMCC) reported the results of its Primary Mortgage Market Survey, indicating that the 30-year fixed-rate mortgage has fallen to an average of 2.95% for the week ending May 27, 2021, down from 3.00% the previous week. A year ago, it was at 3.15%. The 15-year fixed-rate mortgage now averages 2.27% and the 5-year ARM remains unchanged at 2.59%. Many homeowners are capitalizing on these rates, with nearly $2 trillion in conforming mortgages eligible to refinance, potentially saving over $2,800 annually.
Freddie Mac (OTCQB: FMCC) has appointed Michael J. DeVito as its new CEO, effective June 1. DeVito brings over 30 years of experience in the mortgage industry, previously serving at Wells Fargo as Executive Vice President for Home Lending. The Board expressed confidence in DeVito's leadership and experience, highlighting his extensive background in loan origination, servicing, and risk management. Interim CEO Mark B. Grier will return to his role as a Board member.
Freddie Mac (FMCC) released its Monthly Volume Summary for April 2021, detailing key metrics related to mortgage portfolios, securities issuance, and risk management. The report highlights Freddie Mac's role in facilitating home ownership by providing mortgage capital, contributing to housing affordability across the nation. The organization continues to enhance the housing finance system for various stakeholders, including borrowers and lenders.
Freddie Mac (OTCQB: FMCC) has appointed Jason Griest as Vice President of Multifamily Securitization. He will lead the structuring team, overseeing the Multifamily loan pipeline and credit risk transfer executions, including various deal types. Griest, a seasoned professional with over 20 years of experience, has been with Freddie Mac since 2013 and has contributed to innovative products such as SOFR bonds. Freddie Mac remains a leader in multifamily housing finance, ensuring affordable rental units for low-to-moderate income families.
Freddie Mac (OTCQB: FMCC) announced the pricing of its first Seasoned Loans Structured Transaction Trust (SLST) offering for 2021, totaling approximately $809 million. This securitization includes about $744 million in guaranteed senior certificates and $65 million in non-guaranteed subordinate certificates. It features 8,927 seasoned re-performing loans aimed at reducing credit and market risks. The settlement date is projected for May 27, 2021.
