SOURCE: Freddie Mac

Freddie Mac

July 07, 2016 13:05 ET

Freddie Mac Statement on FHFA Single Security Update

MCLEAN, VA--(Marketwired - Jul 7, 2016) - The following statement was released today by Freddie Mac (OTCQB: FMCC) and is attributed to David Lowman, executive vice president, single-family business:

"Freddie Mac is meeting the milestones that will make the Single Security and a stronger housing finance system a reality. We have completed joint system-to-system testing with Common Securitization Solutions (CSS) as preparation for using their Common Securitization Platform for a range of activities related to Freddie Mac Participation Certificates (PC) and Giant PC issuance. The progress charted in the Federal Housing Finance Agency's (FHFA) latest update is leading to a more liquid TBA market and a stronger housing finance system. We look forward to working with FHFA, Fannie Mae, CSS and other stakeholders to reach the remaining milestones and bring the Single Security to market." 

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 approximately one in four home borrowers and is the largest source of financing for multifamily housing. Additional information is available at www.FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog www.FreddieMac.com/blog.