SOURCE: Freddie Mac

Freddie Mac

November 24, 2014 10:25 ET

Freddie Mac Improves Transparency of Single-Family Loan-Level Publicly Available Data

MCLEAN, VA--(Marketwired - Nov 24, 2014) - Freddie Mac (OTCQB: FMCC) today announced that it is increasing investor transparency by adding loan-level actual loss data to its Single Family Loan-Level Historical Dataset.

The enhanced dataset will increase transparency, which helps investors build more accurate credit performance models in support of the company's Single-Family credit risk offerings.

Quotes
Attribute to Kevin Palmer, vice president of single-family strategic credit costing and structuring for Freddie Mac.

  • "It is important for investors to have this expanded view of credit risk, especially as we continue to grow and evolve our credit risk offerings. Having data openly available in the marketplace allows us to expand the amount of risk transferred to private investors."

  • "We expect to introduce an actual loss credit offering in our ACIS reinsurance and STACR programs next year. We are releasing this data now to give potential credit investors sufficient time to get familiar with Freddie Mac's actual loss performance."

News Facts

  • In addition to such loan level loss information as expenses and recoveries, the dataset contains loan-level credit performance data on 30-year fixed-rate single-family mortgages. It excludes data on adjustable-rate mortgages, balloon mortgages, initial interest mortgages, government-insured mortgages, relief refinancing mortgages (including Home Affordable Refinance Program, or "HARP") and other affordable or non-standard mortgages.

  • The dataset covers approximately 17 million 30-year, fixed-rate, single-family mortgages originated between January 1, 1999, and June 30, 2013. Actual loss and monthly loan performance data, including credit performance information up to and including property disposition, is being disclosed through December 31, 2013.

  •  The historical dataset was first made available in March 2013.

  • The Single-Family Loan-Level Dataset and FAQs are accessible on Freddiemac.com at http://www.freddiemac.com/news/finance/sf_loanlevel_dataset.html

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.