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.
Freddie Mac (FMCC) announced the auction sale of 7,186 non-performing residential first lien loans (NPLs) valued at approximately $1.2 billion. The sale is part of Freddie Mac's Standard Pool Offerings and is expected to settle in December 2021. Loans were marketed to diverse bidders from September 16, 2021. Approximately 64% of the loans had prior modifications but became delinquent. The transaction aims to reduce less-liquid assets and improve borrower outcomes. Notably, Freddie Mac has sold over $8 billion in NPLs to date.
On October 18, 2021, Freddie Mac (OTCQB: FMCC) announced the expansion of its low-income refinance programs, now including borrowers up to 100% of the area median income (AMI), an increase from the previous 80% AMI threshold. This initiative, part of the Refi Possible program launched in August, aims to help lower-income homeowners lower their mortgage rates and monthly payments by an estimated $100 to $250. Freddie Mac continues to focus on equitable homeownership opportunities, partnering with lenders and the Federal Housing Finance Agency to support sustainable housing.
Freddie Mac (OTCQB: FMCC) has priced a new offering of approximately $724 million in Structured Pass-Through Certificates, known as K-HG3 Certificates, backed by multifamily mortgage loans. The deal, part of Freddie Mac’s single-asset, single-borrower (SASB) execution, comprises 41 properties indirectly controlled by Harbor Group International. The K-HG3 is set to settle around October 21, 2021. The certificates will feature three senior principal and interest classes, with no ratings assigned, and will include a variety of investor options aimed at stabilizing cash flows.
Freddie Mac (OTCQB: FMCC) announced the pricing of its SB91 multifamily mortgage-backed securitization, which involves approximately $381 million in SB Certificates set to settle around October 22, 2021. This offering, backed by small balance loans, marks the tenth such transaction in 2021. The loans typically range from $1 million to $7.5 million and are associated with properties containing five or more units. Freddie Mac guarantees several classes of the issued securities and continues its commitment to providing liquidity to smaller apartment markets.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Multifamily WI K-Deal Certificates (Series WI-K746), aimed at raising approximately $155 million. These certificates are initially backed by cash assets and will eventually be backed by a pool of fixed-rate multifamily mortgages with predominantly 7-year terms. The anticipated settlement date is on or about October 20, 2021. The offering is managed by Wells Fargo Securities and Cantor Fitzgerald, among others, and features a weighted average life of 7.26 years and a spread of S+17.
Freddie Mac (OTCQB: FMCC) forecasts a strong housing market despite rising mortgage rates and home prices. The Chief Economist predicts continued homebuyer demand and increased purchase originations in 2022. Key insights include an expected average 30-year fixed-rate mortgage of 3.0% in 2021 and 3.5% in 2022, with house price growth projected at 16.9% for 2021, slowing to 7.0% in 2022. Purchase originations are anticipated to rise to $2.1 trillion in 2022, compared to $1.9 trillion in 2021, while refinance originations are expected to decline significantly.
Freddie Mac (OTCQB: FMCC) reported that the 30-year fixed-rate mortgage averaged 3.05% for the week ending October 14, 2021, up from 2.99% the previous week and 2.81% a year ago. The 15-year FRM averaged 2.30%, while the 5-year ARM rose to 2.55%. Chief Economist Sam Khater noted that rising mortgage rates, alongside increasing home prices, are creating affordability challenges for potential buyers. The survey indicates that despite historically low rates, many are hesitant to enter the market due to high prices.
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Freddie Mac (OTCQB: FMCC) has priced a new offering of Multifamily WI K-Deal Certificates (Series WI-K133) worth approximately $180 million. These certificates are backed by cash assets and will indirectly secure a pool of fixed-rate multifamily mortgages mostly with 10-year terms. The offering is set to settle around October 13, 2021. Co-Lead Managers for this offering include Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. The fixed-rate coupon for these certificates is anticipated to align with the reference K-Deal class.
Freddie Mac (OTCQB: FMCC) has priced a new offering of Structured Pass-Through Certificates (K Certificates), backed by fixed-rate multifamily mortgages. The offering, K-132 Certificates, is expected to total approximately $1.1 billion and settle around October 14, 2021. The K-132 Certificates feature various classes, including A-1, A-2, A-M, X1, and XAM, with distinct terms and yields. J.P. Morgan and Morgan Stanley act as co-leads, with ratings from Fitch and DBRS.
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