Freddie Mac Giant MBS (non-UMBS)
Beginning June 3, 2019, Freddie Mac will offer Supers for TBA-eligible resecuritizations, replacing current TBA-eligible Giants. Freddie Mac will continue to offer non-TBA-eligible Giant PCs to be formed from Gold PCs that were issued before June 3, and Giant PCs that may be issued before or after June 3. Freddie Mac Giant MBS can be backed by any Freddie Mac 55-day fixed-rate MBS or Giant MBS.
Freddie Mac Giant MBS are single class resecuritizations of Freddie Mac MBS, which are 55-day non-TBA-eligible securities. Each Freddie Mac Giant MBS security will be issued and guaranteed by Freddie Mac. Freddie Mac Giant MBS can be backed by any Freddie Mac 55-day fixed-rate MBS or Giant MBS. Freddie Mac Giant MBS are pass-through securities, each representing an undivided interest in a pool of residential mortgages. Freddie Mac offers traditional 30-year fixed-rate Freddie Mac Giant MBS in addition to 20-year and 15-year securities.
- Dealers can form Giant MBS on behalf of their customers using Freddie Mac’s Dealer Direct web portal.
- Please reference the 55-day Giant/Supers Collateral Prefix Eligibility Chart and 55-day Fixed-rate Giant/Supers Pooling Requirements.
- Newly formed 55-day Fixed-rate MBS pools are eligible for Giant MBS the same day they are settled with the exception of the last business day of the month.
- Previously formed 55-day MBS and Giant MBS are eligible collateral for new 55-day Giant MBS.
- If your Giant MBS collateral requires a 45-day to 55-day exchange, additional time is required to allow for the exchange settlement prior to the Giant MBS settlement. Please visit our Gold PC Exchange website for more details.
- For assistance with the execution of a Giant MBS, please email [email protected].
This product overview is not an offer to sell or solicitation of an offer to buy any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac’s Information Statement and related supplements.