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 has announced the pricing of its $1.086 billion STACR REMIC 2020-DNA5 offering, marking its first Single-Family credit risk transfer (CRT) deal linked to the Secured Overnight Financing Rate (SOFR). The new structure utilizes a 30-day average SOFR, aiming for a transition to a term SOFR pending regulatory approval. This offering is Freddie Mac’s fifth securities transaction of the year, covering low loan-to-value single-family loans. The transaction highlights the shift from LIBOR to SOFR, benefitting investors and Freddie Mac's credit risk management.
Freddie Mac (OTCQB: FMCC) has priced its SB79 offering, a multifamily mortgage-backed securitization totaling approximately $368 million. This offering is the tenth SB Certificate transaction for 2020, settling around October 23, 2020. The SB79 Certificates are backed by small balance loans, which generally range from $1 million to $7.5 million. Freddie Mac guarantees three senior classes of securities in this trust, while certificates not guaranteed will be sold to private investors. This initiative continues Freddie Mac's effort to enhance liquidity for smaller apartment properties.
Freddie Mac (OTCQB: FMCC) has announced the pricing of its new Structured Pass-Through Certificates, known as K-F88 Certificates, amounting to approximately $877 million. These certificates are scheduled to settle around October 23, 2020. The K-F88 includes senior bonds indexed to both LIBOR and SOFR, with Freddie Mac offering a basis risk guarantee for the SOFR-indexed class. The Certificates will not be rated and encompass multiple classes backed by multifamily mortgages, aligning with Freddie Mac's strategy to transfer risk from taxpayers to private investors.
Freddie Mac (OTCQB: FMCC) reported the results of its Primary Mortgage Market Survey, revealing that the 30-year fixed-rate mortgage averaged 2.81% for the week ending October 15, 2020, making it the lowest rate in the survey's history. This marks the tenth record low this year, driving strong refinance activity. The 15-year fixed-rate mortgage averaged 2.35%, while the 5-year ARM averaged 2.90%. Freddie Mac continues to facilitate affordable housing by providing mortgage capital to lenders across the nation.
Freddie Mac (FMCC) has announced the pricing of a new $3 billion, 0.125% three-year USD Reference Notes® security, set to mature on October 16, 2023. Priced at 99.627, the yield stands at 0.25%, which is 7.5 basis points higher than that of three-year U.S. Treasury Notes. The offering will settle on October 16, 2020, and is led by J.P. Morgan Securities, TD Securities, and Wells Fargo Securities, among others. This announcement does not constitute an offer to sell Freddie Mac securities.
Freddie Mac (OTCQB: FMCC) reported a significant increase in mortgage origination volumes as homeowners capitalized on low mortgage rates. Despite economic challenges due to the coronavirus pandemic, the housing market remains strong, with solid refinance activity and continued homebuyer demand. Key forecasts for 2020 include a 3.2% average rate for 30-year fixed mortgages, a 5.5% increase in house prices, and total mortgage origination levels expected to reach $3.582 trillion. For 2021, a slight decrease in home sales and refinance originations is anticipated.
Freddie Mac (OTCQB:FMCC) announced its intent to issue new three-year USD Reference Notes security, CUSIP number 3137EAEY1, maturing on October 16, 2023. The settlement will occur on October 16, 2020, at benchmark size. This offering will be executed through a syndicate of dealers led by J.P. Morgan Securities, TD Securities, and Wells Fargo Securities, among others. This announcement does not constitute an offer to sell securities; relevant offering details can be found in Freddie Mac's regulatory filings.
Freddie Mac (OTCQB: FMCC) has priced a new offering of approximately $535 million in Structured Pass-Through Certificates (K-SG1 Certificates), with expected settlement around October 16, 2020. This offering is part of Freddie Mac's strategy to support affordable housing through their Sustainability Bonds. The proceeds will finance multifamily properties aimed at enhancing economic opportunities for low-to-moderate income families.
Freddie Mac (FMCC) has reminded mortgage servicers of its disaster relief policies as Hurricane Delta approaches the Gulf Coast. The company offers immediate relief options for homeowners in federally declared disaster areas, including short-term forbearance without late fees for up to 12 months. Homeowners have several options to address missed payments, such as reinstatement, repayment plans, payment deferrals, and loan modifications. Freddie Mac also extends relief options to homeowners outside declared areas with disaster-related losses impacting their mortgage payments.