SOURCE: Freddie Mac

Freddie Mac

July 10, 2014 16:00 ET

Freddie Mac Statement on FHFA Efforts to Strengthen Enterprise Mortgage Insurance Counterparties

MCLEAN, VA--(Marketwired - Jul 10, 2014) - The following statement was released today by Gina Healy, Vice President of Mortgage Insurance and Credit Risk Freddie Mac (OTCQB: FMCC):

"The draft eligibility standards issued for public input today will strengthen counterparty requirements for private mortgage insurance industry that will continue to play a key role as a source of private capital in mortgage markets. Private mortgage insurance enables Freddie Mac's mission to continuously make affordable mortgages available to America's borrowers. We encourage stakeholders to use the 60-day input period to study and provide feedback on the eligibility standards developed by Freddie Mac and Fannie Mae under the direction of the Federal Housing Finance Agency. Freddie Mac is committed to working with the housing industry and other stakeholders to improve America's mortgage finance system to provide borrowers, lenders and investors with greater opportunity, stability and certainty."

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.