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.
The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac does not undertake an obligation, and disclaims any duty, to update any of the information in those documents. Freddie Mac's future performance, including financial performance, is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the company's future results are discussed more fully in our reports filed with the SEC.