Federal Home Stock Price, News & Analysis

Freddie Mac (OTCQB: FMCC) has priced a new offering of K Certificates, backed by fixed-rate multifamily mortgages, totaling approximately $741 million. The K-744 Certificates are scheduled to settle on August 19, 2021, and feature various classes with specific coupon rates and yields. The offering is part of Freddie Mac's strategy to transfer risk from taxpayers to private investors, enhancing investor options with stable cash flows. Co-lead managers include Barclays Capital and Wells Fargo Securities.

Freddie Mac (OTCQB: FMCC) has announced the pricing of its new Structured Pass-Through Certificates (K-F118 Certificates) worth approximately $859 million. These certificates are backed by floating-rate multifamily mortgages with 7-year terms that are indexed to the Secured Overnight Financing Rate (SOFR). The K-F118 Certificates are expected to settle on or around August 19, 2021. The offering is managed by Morgan Stanley & Co. LLC and BofA Securities, Inc., with additional co-managers including Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.

Freddie Mac (FMCC) announced the sale of 1,139 delinquent residential first lien mortgage loans via auction, totaling approximately $185 million. These loans, which have been delinquent for an average of 105 months, will be settled in September 2021. The borrower assistance and loss mitigation agreements must be honored by the bidder, MCLP Asset Company, Inc. This sale is part of Freddie Mac's strategy to reduce less-liquid assets, having previously sold $9 billion of non-performing loans and securitized $74 billion of re-performing loans to enhance economic stability.

Freddie Mac's Single-Family business announced a record first half Credit Risk Transfer (CRT) issuance of $9.9 billion, safeguarding $418.9 billion in unpaid mortgage principal. The second quarter issuance was $3.5 billion, protecting $173.6 billion in single-family mortgages. Highlights include record-setting transactions in STACR and ACIS programs, with notable issuances of $1.4 billion and $1 billion, respectively. Cumulatively, Freddie Mac has transferred approximately $83 billion in credit risk on $2.3 trillion in mortgages since 2013.

Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates (K-130 Certificates) backed by fixed-rate multifamily mortgages, totaling approximately $1.1 billion. The K Certificates are anticipated to settle on or around August 12, 2021. The offering features various classes with different principal amounts and yields, including Class A-1 with a coupon of 1.156% and a dollar price of $99.9965. This move is part of Freddie Mac's strategy to transfer risk from taxpayers to private investors.

Freddie Mac (OTCQB: FMCC) announced the results of its Primary Mortgage Market Survey on August 5, 2021, revealing that the 30-year fixed-rate mortgage averaged 2.77%, down from 2.80% the previous week, and compared to 2.88% a year ago. The 15-year fixed-rate mortgage remained stable at 2.10%. Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.40%, a decline from 2.45% last week. Freddie Mac's Chief Economist noted that lower mortgage rates could encourage refinancing and home purchases amid market uncertainties.

Freddie Mac (OTCQB:FMCC) has launched the CHOICEReno eXPress mortgage, a streamlined financing option for homebuyers seeking affordable solutions for small-scale renovations. This product enables renovations up to 10% of a home's value without requiring special lender pre-approval, easing the process for lenders with limited renovation experience. Additionally, Freddie Mac updated CHOICERenovation mortgage requirements to enhance flexibility for lenders. These updates will be effective for mortgages settled on or after November 1, 2021, promoting affordable housing and renovation support.

Freddie Mac (OTCQB: FMCC) announced the upcoming issuance of $170 million in Social Bonds aimed at supporting four affordable apartment communities in Las Vegas, totaling 1,139 units. Over 500 units will be affordable at 80% of the area median income. The floating-rate, 7-year, SOFR-based bonds will maximize Freddie Mac's mission of promoting affordable housing and inclusion in the multifamily sector. Osso Capital, the transaction's sponsor, emphasizes diversity and tenant financial empowerment through credit-building initiatives.

Freddie Mac (OTCQB: FMCC) announced in its latest Primary Mortgage Market Survey that the average 30-year fixed-rate mortgage rate is now 2.80%, a slight increase from the previous week's 2.78%. This low rate reflects continued economic recovery as the nation grapples with COVID-19 variants. The survey also noted a record low for the 15-year fixed-rate mortgage at 2.10%. The PMMS targets borrowers with excellent credit and 20% down payments, illustrating Freddie Mac's ongoing commitment to enhancing housing affordability across the U.S.