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Statement on Launch of New Uniform Mortgage-Backed Security (UMBS)

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June 3, 2019 8:26 AM EDT

MCLEAN, Va., June 03, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today issued the following statement, attributable to Freddie Mac’s Mark Hanson, senior vice president, securitization:

The UMBS is one of the most significant accomplishments in our decade-long effort to improve the U.S. housing finance system. Americans will benefit from the efficiency and standardization brought about by this new common security. The success of the initiative is a direct result of Freddie Mac’s collaboration with Fannie Mae, Common Securitization Solutions, FHFA, and thousands across the U.S. housing finance industry. We are grateful for their hard work, and we join them in celebrating this achievement.

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, and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac, and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT: Fred Solomon 703-903-3861 [email protected]

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Source: Freddie Mac

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