SOURCE: Freddie Mac

Freddie Mac

December 02, 2013 11:05 ET

Freddie Mac Statement on Mortgage Insurance Master Policy Requirements

MCLEAN, VA--(Marketwired - Dec 2, 2013) - The following statement was released today by Paige Wisdom, Executive Vice President and Chief Enterprise Risk Officer at Freddie Mac (OTCQB: FMCC):

"The uniform master policy for mortgage insurance master policies announced today builds on the market reforms of the past five years, FHFA to bring about this latest step toward greater operational efficiency and transparency in the mortgage market. Mortgage insurance plays a critical role in making homeownership possible for families who cannot make 20 percent downpayments when they buy a home. We look forward to working with our servicers and the nation's mortgage insurers as they adopt the new master policy."

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 homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com. Twitter: @FreddieMac