FEDERAL HOME LOAN MORTGAGE CORPORATION

(FMCC)
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Delayed OTC Markets  -  05/27 03:59:56 pm EDT
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Federal Home Loan Mortgage : Freddie Mac Expanding Eligibility to Help More Low- and Moderate-Income Homeowners Refinance Affordably

10/18/2021 | 03:00pm EDT

MCLEAN, Va., Oct. 18, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today issued the following statement in support of an announcement by the Federal Housing Finance Agency (FHFA) that Freddie Mac and Fannie Mae’s low-income refinance programs will be expanded to include those making at or below 100% of the area median income (AMI)—up from 80% AMI.

Donna Corley, Freddie Mac executive vice president and head of Single-Family released the following statement:

“Freddie Mac is taking action to ensure more deserving homeowners can benefit from today’s low mortgage rate environment through refinancing. Working with our lender clients and the Federal Housing Finance Agency, we are now able to help even more lower-income households reduce their interest rate and their monthly mortgage payment through our Refi Possible solution. Our priority is to create more equitable opportunities that responsibly support sustainable homeownership.”

Launched in August, Refi PossibleSM is available to low- and moderate-income homeowners with a Freddie Mac-backed single-family mortgage. These homeowners will benefit from a reduced interest rate and lower mortgage payment, helping those who have not refinanced save an estimated $100 to $250 a month.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT:
Chad Wandler
709-903-2446
Chad_Wandler@FreddieMac.com


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Source: Freddie Mac

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2022 15 427 M - -
Net income 2022 7 763 M - -
Net Debt 2022 - - -
P/E ratio 2022 0,32x
Yield 2022 -
Capitalization 2 448 M 2 448 M -
Capi. / Sales 2022 0,16x
Capi. / Sales 2023 0,16x
Nbr of Employees 7 301
Free-Float 54,6%
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Mean consensus HOLD
Number of Analysts 3
Last Close Price 0,76 $
Average target price 1,00 $
Spread / Average Target 31,6%
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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
Jerry Mauricio Chief Compliance Officer & Senior Vice President