Giant PCs

Giant PCs are single class pass-through securities that enable investors to manage their portfolios more efficiently by consolidating PCs into larger Giant PCs. Freddie Mac offers two types of Giant PCs: Fixed-rate Gold Giant PCs and Adjustable-rate Mortgage (ARM) Giant PCs.

Product Overview

Freddie Mac Giant PCs are single-class pass-through securities that enable investors to manage their portfolios more efficiently by consolidating smaller PCs into larger Giant PCs. Introduced in 1988, Giant PCs are popular with dealers and investors because they are an efficient and profitable way to aggregate production and investment portfolios. Freddie Mac offers fixed-rate Gold Giant PCs and adjustable-rate (ARM) Giant PCs.

Fixed-rate Gold Giant PCs

Fixed-rate Giant PCs are Gold Giant PCs with the corresponding Gold PC payment cycle of 45 days. Fixed-rate Gold Giant PCs pay principal and interest on the 15th of each month to the holder of record as of the close of business on the last day of the preceding month.

• Dealers can form Fixed-rate Giant PCs on behalf of their customers using Freddie Mac’s Dealer Direct web portal. 
• Please reference the Collateral Prefix Eligibility Chart and Pooling Requirements. 45-day Fixed-rate and 75-day ARM Giant Collateral Prefix Eligibility Chart and 45-day Fixed-rate Giant Pooling Requirements.
• Previously formed 45-day Gold PCs and Gold Giant PCs are eligible collateral for new 45-day Fixed-rate Gold Giant PCs.
• For assistance with the execution of a Giant PC, please email [email protected].

ARM Giant PCs

All ARM Giant PCs bear interest at a pass-through coupon that adjusts monthly based on the weighted average of the interest rates of the underlying PCs. The PC coupon is expressed as an exact decimal truncated to three decimal places. The mortgages underlying a specific ARM Giant PC may have different adjustment rates. ARM Giant PCs pay principal and interest on the 15th of each month to the holder of record as of the close of business on the last day of the month two months prior to payment.

Formation Guidelines:

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  • Dealers can form ARM Giant PCs on behalf of their customers using Freddie Mac’s Dealer Direct web portal.
  • Please reference the Collateral Prefix Eligibility Chart and Pooling Requirements. 45-day Fixed-rate and 75-day ARM Giant Collateral Prefix Eligibility Chart and 75-day ARM Giant Pooling Requirements.
  • Previously formed 75-day ARM PCs and ARM Giant PCs are eligible collateral for new 75-day ARM Giant PCs.
  • For assistance with the execution of a Giant PC, please email [email protected] [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.