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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.Rhea-AI Summary
Freddie Mac reports that the 30-year fixed-rate mortgage has exceeded 7 percent for the first time this year, reaching 7.10 percent. Potential homebuyers are faced with the decision of buying now or waiting for possible rate decreases later in the year. Purchase applications have risen modestly, but the impact of increasing rates on homebuyers remains uncertain.
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Freddie Mac Multifamily has issued over $20 billion in Green, Social, and Sustainability bonds since 2019, supporting affordable housing and environmental initiatives. The company's Impact Bonds program aims to address housing challenges and provide transparency to investors, with a focus on social impact. In 2023, Social Bonds accounted for a majority of issuances, totaling over $2.6 billion. The Impact Bonds have financed 183,384 affordable units and water improvements saving 570 million gallons annually. Freddie Mac continues to innovate and adapt to support borrowers and tenants while meeting market demands.
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Freddie Mac Multifamily announced policy enhancements to strengthen due diligence, deter fraud, and reduce risks. The changes include increased property inspections, stronger 'Know Your Customer' requirements, and updated appraisal review processes.
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Freddie Mac (FMCC) reports a 30-year fixed-rate mortgage at 6.88%, influenced by inflation and Federal Reserve policy. Inflation data shows minimal movement with an average growth rate of 3.3%. Market reacts differently, Dow Jones drops post-announcement.
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Freddie Mac announced the sale of 679 non-performing loans worth $104 million through an auction. The sale is part of Freddie Mac's Standard Pool Offerings (SPO®) and is expected to settle in June 2024. The winning bidder is RCAF Loan Acquisition, LP managed by Pretium Residential Credit Management,
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Freddie Mac's Primary Mortgage Market Survey reveals the 30-year fixed-rate mortgage averaged 6.82 percent, with little movement. Chief Economist Sam Khater predicts rates will remain stable despite lower inflation signals. Inventory improvements may moderate home price growth.
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Freddie Mac (FMCC) reports a 30-year fixed-rate mortgage at 6.79%, down from last week's 6.87%. The 15-year FRM is at 6.11%. Positive data on existing home sales is noted, with rates remaining elevated near seven percent. Freddie Mac aims to make home ownership possible for families nationwide.
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Freddie Mac (FMCC) released its Monthly Volume Summary for February 2024, showcasing details on mortgage portfolios, securities issuance, risk management, delinquencies, debt activities, and investments, aligning with its mission to support housing market stability and affordability.
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Freddie Mac reports an increase in mortgage rates with the 30-year fixed-rate mortgage averaging 6.87 percent, up from the previous week. Despite the rise, homebuilders are optimistic due to increased home inventory and new construction, as well as expectations of a future rate cut by the Federal Reserve.
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Freddie Mac (FMCC) and Intercontinental Exchange (ICE) collaborate to enhance loan quality in the mortgage origination process, leveraging automation technologies. The partnership aims to help lenders underwrite mortgage loans efficiently, reducing risks and improving efficiency. The announcement was made during the ICE Experience 2024 conference, emphasizing the commitment to improving loan quality and reducing defects in the housing finance market.
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FAQ
What is the current stock price of FREDDIE MAC (FMCC)?
The current stock price of FREDDIE MAC (FMCC) is $3.28 as of November 26, 2024.
What is the market cap of FREDDIE MAC (FMCC)?
The market cap of FREDDIE MAC (FMCC) is approximately 2.3B.
When was Freddie Mac established?
Freddie Mac was established in 1970 by Congress.
What is the core business of Freddie Mac?
Freddie Mac's core business is providing mortgage capital to lenders to make home ownership more accessible and affordable.
What are the key initiatives of Freddie Mac?
Freddie Mac is focused on building a better housing finance system for homebuyers, renters, lenders, and taxpayers.
How does Freddie Mac manage credit risk?
Freddie Mac's Single-Family Credit Risk Transfer programs protect taxpayers by transferring credit risk to private capital via securities and insurance policies.
What are some recent achievements of Freddie Mac?
Freddie Mac has engaged in various initiatives to purchase notes, offer Single-Family Credit Risk Transfer programs, and issue Social Bonds to support affordable housing.
FREDDIE MAC
OTC:FMCC
FMCC Rankings
FMCC Stock Data
2.31B
650.05M
0%
1.78%
7.96%
Mortgage Finance
Financial Services
United States of America
McLean