Last $3.82 USD
Change Today -0.01 / -0.26%
Volume 823.9K
FMCC On Other Exchanges
Symbol
Exchange
OTC BB
As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

8200 Jones Branch Drive

McLean, VA 22102

United States

Phone: 703-903-2000

Fax:

Federal Home Loan Mortgage Corporation provides credit guarantee for mortgages originated by mortgage lenders in the primary mortgage market, and invests in mortgage loans and mortgage-related securities. The company also aggregates and resecuritizes mortgage-related securities that are issued by the company, other government sponsored enterprises, state or local housing finance agencies (HFAs), or private (non-agency) entities; and issues other single-class and multiclass mortgage-related securities to third-party investors. It also enters into certain other guarantee commitments for mortgage loans, HFA bonds under the HFA initiative, and multifamily housing revenue bonds held by third parties. Segments The company operates through three segments: Single-family Guarantee, Investments, and Multifamily. SINGLE-FAMILY GUARANTEE This segment includes the company’s single-family credit guarantee activities. The company purchases single-family mortgage loans originated by its seller/servicers in the primary mortgage market. In various instances, the company uses the mortgage securitization process to package the mortgage loans into guaranteed mortgage-related securities. The company participates in the secondary mortgage market by purchasing mortgage loans and mortgage-related securities for investment and by issuing guaranteed mortgage-related securities. This segment purchases and securitizes ‘single-family mortgages’, which are mortgages that are secured by one- to four-family properties. Securitization Activities The types of mortgage-related securities that the company issues and guarantees include participation certificates (PCs); real estate mortgage investment conduits (REMICs) and other structured securities; and other guarantee transactions. PCs: The company’s PCs are single-class pass-through securities that represent undivided beneficial interests in trusts that hold pools of mortgages that the company has purchased. For its fixed-rate PCs, the company guarantees the payment of principal and interest. For its single-family adjustable-rate mortgage (ARM) PCs, the company guarantees the payment of the weighted average coupon interest rate for the underlying mortgage loans. It also guarantees the full and final payment of principal for ARM PCs. The company issues majority of its single-family PCs in transactions in which its customers provide the company with mortgage loans in exchange for PCs. The company refers to these transactions as guarantor swaps. It also issues PCs in exchange for cash. REMICs and Other Structured Securities: The company issues single-class and multiclass securities. Single-class securities (PCs) involve the straight pass-through of all of the cash flows of the underlying collateral to holders of the beneficial interests. The company’s primary multiclass securities qualify for tax treatment as REMICs. Other securities that the company issues could involve the creation of sequential payment and planned or targeted amortization classes. The company’s REMICs and other structured securities represent beneficial interests in pools of PCs and/or certain other types of mortgage-related assets. It creates these securities primarily by using PCs or previously issued REMICs and other structured securities as the underlying collateral. Similar to its PCs, the company guarantees the payment of principal and interest to the holders of tranches of its REMICs and other structured securities. Other Guarantee Transactions: The company also issues mortgage-related securities to third parties in exchange for non-Freddie Mac mortgage-related securities. It refers to these as other guarantee transactions. The non-Freddie Mac mortgage-related securities are transferred to trusts that are primarily created for the purpose of issuing securities, or certificates, in the other guarantee transactions. Single-Family PC Trust Documents The company establishes trusts for all of its issued PCs pursuant to its PC master trust agreement. In accordance with the terms of its PC trust documents, the company has the option, and in some instances the requirement, to remove specified mortgage

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FMCC Competitors

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Company Last Change
Ameriprise Financial Inc $106.03 USD +1.20
Capital One Financial Corp $74.89 USD -0.27
Federal National Mortgage Association $3.82 USD +0.01
Genworth Financial Inc $16.88 USD +0.29
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Price/Cash Flow 0.1x
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