SOURCE: Freddie Mac
July 08, 2016 12:14 ET
MCLEAN, VA--(Marketwired - Jul 8, 2016) - Freddie Mac (OTCQB: FMCC) today announced that the company will round, rather than truncate, the last digit of the factors for substantially all Single-Family and Multifamily mortgage-backed securities published on or after July 25, 2016. Currently, Freddie Mac factors are truncated after the last decimal place.
The methodology change is being made primarily in preparation for the Single Security, where Freddie Mac will match Fannie Mae's current factor calculation process. The change will also help ensure a consistent approach to factor calculation across our securities products.
Although factors for Freddie Mac Multifamily Gold PCs will not be impacted, the rounding methodology will be used in calculating and reporting the factors for virtually all Freddie Mac securities products, including but not limited to the following:
The methodology change is now reflected in the Freddie Mac Disclosure Guides for PCs, Giants and Reference Pools and online glossaries for PCs and Giants. For more information, contact Investor Inquiry at 800-336-3672 or Investor_Inquiry@FreddieMac.com.
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 FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.
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