Welcome to our dedicated page for Federal Home news (Ticker: FMCC), a resource for investors and traders seeking the latest updates and insights on Federal Home stock.
Freddie Mac (OTCQB: FMCC), formally the Federal Home Loan Mortgage Corporation, regularly issues news and updates that reflect its role in U.S. housing finance. The company describes its mission as making home possible for families across the nation by promoting liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, it reports having helped tens of millions of families buy, rent or keep their home.
News about Freddie Mac often covers mortgage rate trends through its Primary Mortgage Market Survey® (PMMS®). These releases provide average rates for products such as the 30-year and 15-year fixed-rate mortgage, focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit. Such updates can give readers insight into movements in mortgage costs and the company’s commentary on housing demand.
Another key news theme is Freddie Mac’s activity in credit risk transfer and securities issuance. The company publishes updates on its Single-Family Credit Risk Transfer (CRT) programs, including STACR® and ACIS® transactions, and on multifamily securities such as K-Deals®, Multi PCs®, SB-Deals®, M-Deals, ML-Deals, Q-Deals, MSCR notes and MCIP policies. These announcements describe how Freddie Mac transfers credit, interest-rate and liquidity risk away from U.S. taxpayers to private investors and (re)insurers.
Freddie Mac also releases information on its Monthly Volume Summary, tender offers for STACR notes, and exchange offers for Gold PCs and Giant PCs. Governance and leadership developments, such as changes in executive roles or board membership, are disclosed through press releases and related SEC filings. Investors and observers can use this news feed to follow Freddie Mac’s mortgage market surveys, securities issuance, risk transfer activity and corporate updates in one place.
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Freddie Mac (OTCQB: FMCC) has introduced an innovative automated capability for mortgage lenders to assess homebuyer income using direct deposit data. This solution, available through the Loan Product Advisor (LPA), simplifies the loan process by reducing documentation requirements, thereby accelerating loan closures. With 93% of U.S. workers using direct deposit, this capability enhances efficiency, accuracy, and borrower experience. The system is designed to reduce underwriting errors and improve capacity for lenders. Initial service providers include Finicity and FormFree.
Freddie Mac (OTCQB: FMCC) appointed Heidi Mason as executive vice president and general counsel, effective March 7, 2022. Mason, with 25 years of experience in mortgage lending and securities law, takes over from Jerry Weiss, who has served as interim general counsel since March 2021. She previously worked at ElevateNext Law and Wells Fargo, where she was a senior deputy general counsel. CEO Michael DeVito praised Mason's expertise and anticipated her integral role in the executive team, while thanking Weiss for his service during a complex period.
Freddie Mac (OTCQB: FMCC) has updated the results for its tender offer to purchase STACR® Debt Notes, as detailed in the Offer to Purchase dated Feb. 1, 2022. By the Expiration Time on Feb. 7, 2022, approximately $2,144 million in original principal amount of Notes were validly tendered. However, not all expected Notes were delivered by the Guaranteed Delivery Deadline on Feb. 9, 2022. Detailed results indicate various acceptance percentages across different securities, highlighting the ongoing capital management strategies of Freddie Mac.
Freddie Mac (OTCQB: FMCC) has appointed Kevin G. Chavers and Luke S. Hayden to its Board of Directors, effective February 15, 2022. Chavers, a former managing director at BlackRock, brings extensive mortgage finance and capital markets expertise, while Hayden, CEO of Hayden Consulting, has vast experience in residential real estate finance. Chavers will serve on the Audit and Nominating committees, and Hayden will join the Operations and Technology Committee as well as the Risk Committee. Both are expected to add valuable insights to enhance Freddie Mac's operations.
Freddie Mac (OTCQB: FMCC) reports the 30-year fixed-rate mortgage averaged 3.69% for the week ending February 10, 2022, up from 3.55% the previous week and significantly higher than 2.73% a year ago. The 15-year fixed-rate mortgage increased to 2.93%, while the 5-year ARM rose to 2.80%. Chief Economist Sam Khater indicated that rising mortgage rates, driven by a strong labor market and high inflation, may adversely impact homebuyer demand. The PMMS® focuses on conventional loans for borrowers with excellent credit.
Freddie Mac (OTCQB: FMCC) announced its fourth quarter and full-year 2021 financial results, alongside its Annual Report on Form 10-K filed with the SEC. The report highlights the company’s ongoing efforts to enhance housing accessibility and affordability across the nation. The earnings call is scheduled for 9 a.m. ET on Feb. 10, 2022, and will be available for replay for 30 days. Freddie Mac has been instrumental in providing mortgage capital since its establishment in 1970, supporting millions of families and individuals.
Freddie Mac (OTCQB: FMCC) has announced the pricing of its new offering of Multifamily WI K-Deal Certificates (Series WI-K141), projected to raise approximately $845 million. These certificates will be primarily backed by fixed-rate multifamily mortgages with 10-year terms. The issuance is expected to settle around February 16, 2022. This marks the second execution involving A-M and A-2 class bonds, aligning with Freddie Mac's strategy to transfer risk from taxpayers to private investors. Key underwriters include Wells Fargo Securities and J.P. Morgan Securities.
Freddie Mac (OTCQB: FMCC) reported a record $675 million in Low-Income Housing Tax Credit (LIHTC) equity investments for 2021, supporting over 4,800 affordable rental units in underserved U.S. markets. The investment portfolio includes units for various special needs households, such as those impacted by homelessness and domestic violence. The Federal Housing Finance Agency raised the annual LIHTC cap to $850 million, enabling Freddie Mac to quickly scale its program, adding an additional $175 million to its investments. This funding enhances affordable housing supply in crucial communities.
Freddie Mac (OTCQB: FMCC) announced the results of its tender offer for STACR Debt Notes, validly tendering approximately $2,144 million in total principal amount by the expiration time of February 7, 2022. The settlement date for accepted notes is expected on February 9, 2022. The offer details, including the specific securities involved, have been outlined in the Offer Documents dated February 1, 2022. BofA Securities and Barclays Capital are the lead dealer managers for the offer.