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 (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.
Freddie Mac (FMCC) reported its second quarter 2021 financial results on July 29, 2021, detailing its ongoing efforts to provide mortgage capital to lenders. The results, available in the Form 10-Q filed with the SEC, highlight Freddie Mac's commitment to making housing more accessible and affordable. A media call is scheduled for 9 a.m. ET to discuss these results, which will also be webcast and available for replay on the company's website for 30 days. For further information, visit FreddieMac.com/investors.
Freddie Mac (OTCQB: FMCC) released its June 2021 Monthly Volume Summary, detailing key metrics related to its mortgage portfolios, securities issuance, risk management, and delinquencies. The report highlights Freddie Mac's role in providing mortgage capital, contributing to accessible housing for millions since its inception in 1970. The organization continues to focus on building a more efficient housing finance system to support homebuyers, renters, lenders, and taxpayers.
Freddie Mac (OTCQB:FMCC) will report its Q2 2021 financial results on July 29, 2021, before U.S. markets open. A conference call will follow at 9 a.m. ET to discuss the results, with a simultaneous webcast available for those interested. The Investor Relations section of Freddie Mac’s website will host all related materials. Freddie Mac aims to improve housing accessibility and affordability for numerous individuals and families nationwide.
Freddie Mac (OTCQB: FMCC) anticipates record-setting multifamily origination volume in 2021, with projections ranging from $385 billion to $410 billion. The multifamily housing demand has surpassed pre-pandemic levels, driven by improving economic conditions and strong investor interest. Despite some larger gateway markets like New York and San Francisco continuing to face challenges, nearly 90% of metro areas are expected to see positive rent growth. The vacancy rate is projected to decrease to 5.0%, with rents rising by 2.5% overall.
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Freddie Mac (FMCC) has priced approximately $232 million in new Multifamily Structured Credit Risk (MSCR) Notes, Series 2021-MN2. This initiative aims to mitigate mortgage credit risk while promoting affordable rental housing. The MSCR program transfers credit risk on multifamily mortgage loans to private investors. The reference pool for these notes includes 40 loans with an unpaid principal balance of around $4 billion, with 91% supporting low-income families. Notably, Freddie Mac retains significant risk in senior loss and first-loss classes.
Freddie Mac (OTCQB: FMCC) has appointed Jerry Mauricio as the new senior vice president and chief compliance officer, effective immediately. Mauricio, who has been serving as Interim CCO since January 2021, brings over two decades of compliance expertise from various global financial institutions. He has been with Freddie Mac since 2019, holding roles in capital markets and consumer compliance. Mauricio will oversee compliance risk management, ensuring regulatory obligations are met. CEO Michael DeVito highlights Mauricio's experience as beneficial for Freddie Mac's safety and risk management efforts.