Updated as of August 2023

Since 2021, Freddie Mac has exercised its 5-Year ACIS call option to wind down over $1 billion in out-of-the-money coverage and save over $100 million in future premium spend.

Freddie Mac retains sole discretion over whether or not to exercise any call options and the timing thereof, which may be impacted by market conditions, business objectives and regulatory approvals. As such, the information contained herein does not guarantee the timing of any future exercise of the call option by Freddie Mac. The information presented herein is for informational purposes only.

Freddie Mac may exercise call options on STACR and ACIS deals, as specified in the applicable private placement memorandum and/or offering documents, and will determine when to exercise based on business objectives which may consider capital relief, cost, and other factors.

Freddie Mac is committed to transparency and keeping the CRT community informed. Please email [email protected] with any questions.

Call Rationale Illustration

Call Options Exercised

STACR

Deal NameDeal Closing DateDeal Maturity DateDate Exercised
STACR 2015-HQ13/31/20153/25/202511/25/2022
STACR 2014-HQ18/11/20148/25/20245/25/2022
STACR 2014-DN38/11/20148/25/20241/25/2024
STACR 2015-DN12/3/20151/25/20251/25/2024

ACIS

3/25/2031

Deal NamePolicy Effective DatePolicy Maturity DateDate Exercised
ACIS 2017-AFRM17/1/201710/25/202910/25/2023
ACIS 2018-HQA210/24/184/25/203110/25/2023
ACIS 2018-DNA39/21/20183/25/20319/25/2023
ACIS 2018-DNA26/20/201812/25/20306/25/2023
ACIS 2018-HRP15/21/201811/25/20305/25/2023
ACIS 2018-HQA13/28/20189/25/20304/25/2023
ACIS 2018-DNA11/30/20187/25/20302/25/2023
ACIS 2019-SP011/1/20197/25/20261/25/2023
ACIS 2017-HRP112/13/20176/25/203012/25/2022
ACIS 2015-HQ16/30/20153/25/203011/25/2022
ACIS 2017-HQA310/18/20174/25/203010/25/2022
ACIS 2017-DNA310/4/20173/25/203010/25/2022
ACIS 2017-HQA26/20/201712/25/20296/25/2022
ACIS 2018-SAP14/4/201810/25/20254/25/2022
ACIS 2017-DNA24/11/201710/25/20294/25/2022
ACIS 2017-DI013/1/201712/25/20273/25/2022
ACIS 2017-HQA12/22/20178/25/20292/25/2022
ACIS 2017-DNA12/7/20177/25/20292/25/2022
ACIS 2016-SAP211/1/20165/25/202411/25/2021
ACIS 2017-SAP15/1/201711/25/20245/25/2021
ACIS 2016-SAP14/25/201610/25/20234/25/2021
ACIS 2015-28/11/20148/25/20241/25/2024
ACIS 2015-42/3/20151/25/20251/25/2024

 

Potential Upcoming Call Options

Includes deals that may become eligible for call within the next 12 months based on 
term or current reference pool factor below 12% as of posting.

STACR

Deal NameDeal Closing DateLegal Maturity Date
STACR 2014-DN410/28/201410/25/2024

ACIS

Deal NamePolicy Effective DatePolicy Maturity Date
ACIS 2019-DNA11/30/20197/25/2031
ACIS 2019-HQA12/26/20198/25/2031
ACIS 2019-DNA23/26/20199/25/2031
ACIS 2019-HQA25/7/201910/25/2031
ACIS 2019-FTR15/21/201911/25/2031
ACIS 2019-HRP16/18/201912/25/2031
ACIS 2019-DNA37/23/201912/25/2031
ACIS 2018-AFRM11/1/20186/25/2030
ACIS 2017-AF017/1/20171/25/2030