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.
MCLEAN, Va., June 3, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) released its Primary Mortgage Market Survey indicating that the 30-year fixed-rate mortgage (FRM) averaged 2.99% for the week ending June 3, 2021, up from 2.95% the previous week. A year ago, the average FRM was 3.18%. The 15-year FRM remained at 2.27%, while the 5-year ARM rose to 2.64%. Freddie Mac's Chief Economist noted ongoing home price acceleration and low inventory, emphasizing refinancing opportunities for homeowners amidst strong competition for buyers.
Freddie Mac (OTCQB: FMCC) has announced the pricing of approximately $994 million in new Structured Pass-Through Certificates (K-F113 Certificates), backed by floating-rate multifamily mortgages indexed to the Secured Overnight Financing Rate (SOFR). The certificates are set to settle around June 11, 2021, and feature a weighted average life of 6.58 years. The pricing details include a discount margin of 30-day SOFR avg + 23, and the offering is led by Barclays Capital and BofA Securities. The K-F113 Certificates do not carry a rating and include various classes.
Freddie Mac (OTCQB: FMCC) reported the results of its Primary Mortgage Market Survey, indicating that the 30-year fixed-rate mortgage has fallen to an average of 2.95% for the week ending May 27, 2021, down from 3.00% the previous week. A year ago, it was at 3.15%. The 15-year fixed-rate mortgage now averages 2.27% and the 5-year ARM remains unchanged at 2.59%. Many homeowners are capitalizing on these rates, with nearly $2 trillion in conforming mortgages eligible to refinance, potentially saving over $2,800 annually.
Freddie Mac (OTCQB: FMCC) has appointed Michael J. DeVito as its new CEO, effective June 1. DeVito brings over 30 years of experience in the mortgage industry, previously serving at Wells Fargo as Executive Vice President for Home Lending. The Board expressed confidence in DeVito's leadership and experience, highlighting his extensive background in loan origination, servicing, and risk management. Interim CEO Mark B. Grier will return to his role as a Board member.
Freddie Mac (FMCC) released its Monthly Volume Summary for April 2021, detailing key metrics related to mortgage portfolios, securities issuance, and risk management. The report highlights Freddie Mac's role in facilitating home ownership by providing mortgage capital, contributing to housing affordability across the nation. The organization continues to enhance the housing finance system for various stakeholders, including borrowers and lenders.
Freddie Mac (OTCQB: FMCC) has appointed Jason Griest as Vice President of Multifamily Securitization. He will lead the structuring team, overseeing the Multifamily loan pipeline and credit risk transfer executions, including various deal types. Griest, a seasoned professional with over 20 years of experience, has been with Freddie Mac since 2013 and has contributed to innovative products such as SOFR bonds. Freddie Mac remains a leader in multifamily housing finance, ensuring affordable rental units for low-to-moderate income families.
Freddie Mac (OTCQB: FMCC) announced the pricing of its first Seasoned Loans Structured Transaction Trust (SLST) offering for 2021, totaling approximately $809 million. This securitization includes about $744 million in guaranteed senior certificates and $65 million in non-guaranteed subordinate certificates. It features 8,927 seasoned re-performing loans aimed at reducing credit and market risks. The settlement date is projected for May 27, 2021.
On May 20, 2021, Freddie Mac (OTCQB: FMCC) announced the pricing of approximately $751 million in new K Certificates, which are multifamily mortgage-backed securities. The structured offerings include 13 fixed-rate mortgages and 2 floating-rate mortgages supporting 15 properties. The K-LU3 Certificates are scheduled to settle on or about May 27, 2021. Co-lead managers for the issuance are J.P. Morgan Securities and Morgan Stanley.
Freddie Mac (OTCQB: FMCC) reported the results of its Primary Mortgage Market Survey, revealing that the 30-year fixed-rate mortgage averaged 3.00% for the week ending May 20, 2021. This marked an increase from the previous week’s 2.94%. In comparison to last year, the rate dropped from 3.24%. Additionally, the 15-year fixed-rate mortgage rose to 2.29%, while the 5-year Treasury-indexed hybrid ARM remained unchanged at 2.59%. The continued low rates contrast with a tightening housing supply exacerbated by labor disruptions and high building costs.
Freddie Mac (FMCC) has announced the pricing of a new offering of Structured Pass-Through Certificates, specifically the K-F112 Certificates, totaling approximately $938 million. These certificates are backed by floating-rate multifamily mortgages with a 10-year term linked to the Secured Overnight Financing Rate (SOFR). The offering is set to settle around May 27, 2021. Co-lead managers include Wells Fargo Securities and Citigroup Global Markets, with details available in the preliminary offering circular supplement.