Last $4.18 USD
Change Today +0.01 / 0.24%
Volume 876.6K
FMCC On Other Exchanges
Symbol
Exchange
OTC BB
Frankfurt
As of 8:10 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

freddie mac (FMCC) Snapshot

Open
$4.17
Previous Close
$4.17
Day High
$4.20
Day Low
$4.15
52 Week High
03/11/14 - $6.00
52 Week Low
09/12/13 - $0.98
Market Cap
13.5B
Average Volume 10 Days
4.1M
EPS TTM
$-0.51
Shares Outstanding
3.2B
EX-Date
09/7/08
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for FREDDIE MAC (FMCC)

freddie mac (FMCC) Details

Federal Home Loan Mortgage Corporation provides credit guarantee for residential mortgages originated by mortgage lenders and invests in mortgage loans and mortgage-related securities in the United States. It operates in three segments: Single-Family Guarantee, Investments, and Multifamily. The Single-Family Guarantee segment purchases single-family mortgage loans originated by its seller/servicers in the primary mortgage market; securitizes the purchased mortgage loans into guaranteed mortgage-related securities; and guarantees the payment of principal and interest on the mortgage-related securities. This segment serves lenders, including mortgage banking companies, commercial banks, community banks, credit unions, housing finance agencies (HFAs), and thrift institutions. The Investments segment invests principally in mortgage-related securities and single-family performing mortgage loans that are funded by other debt issuances and hedged using derivatives. It serves insurance companies, money managers, central banks, depository institutions, and pension funds. The Multifamily segment is engaged in the investment, purchase, sale, securitization, and guarantee of multifamily mortgage loans and securities; issues other structured securities; guarantees multifamily HFA bonds and housing revenue bonds held by third parties; and offers post-construction financing to larger apartment project operators. Federal Home Loan Mortgage Corporation was founded in 1970 and is based in McLean, Virginia.

5,053 Employees
Last Reported Date: 02/27/14
Founded in 1970

freddie mac (FMCC) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $600.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $811.2K
Executive Vice President, General Counsel and...
Total Annual Compensation: $1.8M
Executive Vice President of Single-Family Bus...
Total Annual Compensation: $1.5M
Chief Administrative Officer and Executive Vi...
Total Annual Compensation: $1.4M
Compensation as of Fiscal Year 2013.

freddie mac (FMCC) Key Developments

Boston Community Capital Files Suit Against Fannie Mae and Freddie Mac

Boston Community Capital with ties to Massachusetts Attorney General Martha Coakley sits at the center of her lawsuit against Fannie Mae and Freddie Mac. Coakley repeatedly mentions the Boston Community Capital, which charges distressed borrowers rates near 7% to rework their mortgages - in her June 2 lawsuit against Fannie, Freddie, and their regulator and conservator, the Federal Housing Finance Agency. Fannie and Freddie won't comply with a state law intended to help nonprofits such as Boston Community Capital buy foreclosed homes and resell them to the homeowners who defaulted, Coakley alleges. The law says a mortgage creditor may not refuse to sell a home to a nonprofit simply because that nonprofit intends to sell the property back to the borrower. The suit raises fresh questions about well-meaning but potentially flawed attempts to aid distressed borrowers. It also highlights the broad question of whether taxpayers should foot the bill for some (but not all) borrowers, even as the government-sponsored enterprises operate in government conservatorship with no way to build capital. Boston Community Capital buys foreclosed homes at market prices. Its affiliated mortgage company, Aura Mortgage Advisors, then originates a new 30-year mortgage to the original borrower at a rate of roughly 6.75% (at a time when the average rate is in the low 4% range). To participate, the homeowner has to prove a financial hardship and agree to share any appreciation with Aura when the home is ultimately sold or refinanced. Fannie and Freddie have balked at the group's proposition, out of concern that it could encourage borrowers who would otherwise keep paying their mortgages to default.

Federal Home Loan Mortgage Corporation Presents at Pension, Foundation and Endowment Conference, Jun-05-2014 11:00 AM

Federal Home Loan Mortgage Corporation Presents at Pension, Foundation and Endowment Conference, Jun-05-2014 11:00 AM. Venue: New York, United States. Speakers: Mike Reynolds, Credit Risk Structuring.

Federal Home Loan Mortgage Corporation Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Federal Home Loan Mortgage Corporation reported consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company's net interest income was $3.5 billion compared to $3.8 million for the fourth quarter of 2013. Pre-tax income was $5.8 billion compared to $9.3 million for the fourth quarter of 2013. Net income was $4.0 billion compared to $8.6 million for the fourth quarter of 2013. The decreases in both net interest income and net interest yield primarily reflect a decline in the balance of higher-yielding mortgage-related assets due to continued liquidations. The decrease in net income primarily reflects a shift to derivative losses in the first quarter of 2014 from derivative gains in the fourth quarter of 2013 as long-term interest rates declined. In addition, the decline in net income was affected by lower legal settlement proceeds and higher income tax expense, partially offset by lower net impairment expense on mortgage-related securities. Absent legal settlements, first quarter 2014 net income would have been significantly lower. The company’s earnings may be volatile due to changes in the fair value of the company’s derivative portfolio, which is used to reduce Freddie Mac’s exposure to interest-rate risk. Fair value changes on derivatives are included in earnings, while fair value changes associated with several of the types of assets and liabilities being hedged are not. Therefore, there can be timing mismatches affecting current period earnings, which may not be reflective of the economics of the company’s business.

 

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