Freddie Mac Reaffirms Credit Treatment for Certain Fixed-Severity STACR Transactions

MCLEAN, Va., August. 28, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today reaffirmed the credit event treatment for delinquent loans referenced in STACR®; (Structured Agency Credit Risk) securities issued in the 2013-DN1, 2013-DN2, 2014-DN1 and 2014-DN2 fixed-severity transactions.

For these transactions, per the offering and contractual documents, reference obligations become credit events at 180 days or more delinquent, regardless of any grant of forbearance. For a full description of credit events, please refer to the deal documents.

About Freddie Mac Single-Family Credit Risk Transfer

Freddie Mac’s Single-Family Credit Risk Transfer (CRT) programs transfer credit risk away from U.S. taxpayers to global private capital via securities and (re)insurance policies. We created the GSE Single-Family CRT market when we issued our first STACR notes in July 2013. In November 2013, we introduced our ACIS® (Agency Credit Insurance Structure) program. Today, CRT serves as the primary source of private capital investment in residential mortgage credit. For specific STACR and ACIS transaction data, please visit Clarity, our CRT data intelligence portal.

About Freddie Mac

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

 

MEDIA CONTACT: Fred Solomon

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