Freddie Mac Statement on FHFA’s Announcement of New Refinancing Option to Help Low-Income Borrowers

MCLEAN, Va. – April 28, 2021 – Freddie Mac (OTCQB: FMCC) today issued the following statement in support of the announcement by the Federal Housing Finance Agency (FHFA) that Freddie Mac and Fannie Mae will introduce a new option aimed at helping homeowners who make at or below 80% of the area median income refinance their mortgage. Freddie Mac’s Refi Possible will be available this summer for borrowers with Freddie Mac-backed mortgages.

Donna Corley, Executive Vice President and Head of Single-Family Business at Freddie Mac released the following statement:

“Millions of homeowners have benefited from refinancing to reduce their monthly mortgage payment and build long-term wealth. Freddie Mac’s new Refi Possible mortgage creates more equitable opportunities by making it easier for homeowners in lower income brackets to refinance their mortgage. Refi Possible reaches many homeowners who can benefit from refinancing and provides flexibilities that incentivize our clients to serve these eligible borrowers moving forward. Our goal is to expand access to credit responsibly and make sure we are supporting sustainable homeownership.”

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. Freddie Mac has a longstanding commitment to providing consumer education to help borrowers understand every stage of their home journey. Homeowners can review resources around refinancing at My Home by Freddie Mac®.