Freddie Mac opens up certificate exchange for uniform MBS to investors

MCLEAN, VA–(Marketwired – Aug 7, 2015) – Freddie Mac ( OTCQB : FMCC ) recently priced. risk of losses away from taxpayers and to private investors who purchase the unguaranteed subordinate bonds..

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Freddie Mac Opens Gold PC / Giant PC Exchange Offer to Investors. Mirror Certificates (MBS), respectively. Freddie Mac is also offering to exchange its 45-day payment delay TBA-eligible and non.

Investors can now exchange certain existing Freddie Mac bonds for to-be-announced uniform mortgage-backed securities in preparation for the full launch of UMBS next month. The securities that can be exchanged are 45-day payment delay gold mortgage participation certificates and Giant PCs that may or may not be TBA eligible.

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test of a transaction that is central to the creation of a uniform mortgage-backed security. There will be more test exchanges in April ahead of the full implementation of the single.

http://www.freddiemac.com/mbs/data/kc04oc.pdf Freddie Mac Multifamily Investor Presentation Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages.

The Single Security Initiative is a joint initiative of Fannie Mae and Freddie Mac (the Enterprises), under the direction of FHFA, to develop a common mortgage-backed security. The objective is to combine the separate TBA markets of the Enterprises into one, more liquid, $3.9 Trillion market.

Today marked another milestone for the Single Security Initiative, as Freddie Mac (FMCC) commenced its offer to investors to exchange certain eligible Freddie Mac securities for To-Be-Announced.

Uniform Mortgage Backed Security or UMBS means a single-class MBS backed by fixed-rate mortgage loans on 1-4 unit (single-family) properties issued by either Enterprise which has the same characteristics (such as payment delay, pooling prefixes, and minimum pool submission amounts) regardless of which Enterprise is the issuer.

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Freddie Mac opens up certificate exchange for uniform MBS to investors Investors can now exchange certain existing Freddie Mac bonds for to-be-announced uniform mortgage -backed securities in preparation for the full launch of UMBS next month.

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security and Freddie Mac will make changes to its security structure to more closely match fannie mae’s security, resulting in a common UMBS. Freddie Mac will offer investors the option to exchange legacy Freddie Mac PCs for comparable UMBS backed by the same mortgage loans. 4. Who would be the guarantor of the new securities?