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FEDERAL HOME LOAN MORTGAGE CORPORATION

(FMCC)
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Federal Home Loan Mortgage : ABA-Freddie Announces New Cap for Purchase of Certain Single-Family Homes

06/08/2021 | 05:41am EDT

Freddie Mac today announced plans to cap its purchase of single-family mortgages secured by investment properties and second homes to comply with recent changes to the stock purchase agreement governing the GSE's federal conservatorship.

For the month of July, for sellers that sell more than five loans secured by second homes and/or investment properties in a month, such loans may not exceed 6.5% of their total monthly unpaid principal balance. After July, the cap will be set at 6%.

Freddie noted that any loans submitted after the cap is exceeded and subsequently found to be ineligible will be subject to remedies including-but not limited to-repurchase. Freddie noted that the cap 'is intended to be temporary and may be revised as needed.' The GSE also issued a set of frequently asked questions on the cap.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 12 494 M - -
Net income 2021 8 813 M - -
Net Debt 2021 - - -
P/E ratio 2021 0,40x
Yield 2021 -
Capitalization 3 479 M 3 479 M -
Capi. / Sales 2021 0,28x
Capi. / Sales 2022 0,23x
Nbr of Employees 6 922
Free-Float 89,6%
Chart FEDERAL HOME LOAN MORTGAGE CORPORATION
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Federal Home Loan Mortgage Corporation Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 3
Last Close Price 1,08 $
Average target price 0,75 $
Spread / Average Target -30,6%
EPS Revisions
Managers and Directors
Michael J. DeVito Chief Executive Officer & Director
Michael Thomas Hutchins President
Christian Mark Lown Chief Financial Officer & Executive Vice President
S. Sara Mathew Non-Executive Chairman
Frank Nazzaro Chief Information Officer & Executive VP