Key Developments: Federal Home Loan Mortgage Corp (FMCC.OB)
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$0.33 (+19.76%)
$1.67
$1.62
$2.05
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50,889,879
13,601,133
$2.05
$0.14
Latest Key Developments (Source: Significant Developments)
Federal Home Loan Mortgage Corp Sues Bank of America Corp, JPMorgan Chase & Co, UBS AG, Credit Suisse Group AG And Other Banks Over Libor-Reuters
Reuters reported that Federal Home Loan Mortgage Corp is suing more than a dozen banks for losses from the alleged manipulation of the benchmark interest rate known as Libor. Bank of America Corp, JPMorgan Chase & Co, UBS AG and Credit Suisse Group AG are among the banks named as defendants in the lawsuit. Freddie Mac, which invested in mortgage bonds and swaps tied to U.S. dollar Libor, claims the banks colluded to rig the benchmark from 2007 to 2010, according to the complaint, which was filed March 14, 2013 in U.S. District Court for the Eastern District of Virginia. Bank of America, JPMorgan Chase, UBS, Credit Suisse and other banks did not immediately respond to calls for comment or declined to comment. More than a dozen banks have been under scrutiny by authorities in the United States, Japan and Europe over claims they altered the Libor. The trade association could not be reached after hours for comment. Full Article
Federal Home Loan Mortgage Corp Announces Future Retirement Of CFO Ross J. Kari
Federal Home Loan Mortgage Corp announced that its Chief Financial Officer, Ross J. Kari, has informed the Company of his intent to retire in the second half of 2013. Kari has committed to stay with Freddie Mac until after a successor is appointed and a smooth transition has taken place. Full Article
Freddie Mac Prices New $4 Billion Five-Year Reference Notes Security
Freddie Mac announced that it priced its new 1.00% five-year USD Reference Notes security due on September 29, 2017. The issue, CUSIP number 3137EADL0, was priced at 99.95 to yield 1.01%, or 26.5 basis points more than five-year U.S. Treasury Notes. The issue will settle on August 10, 2012. The new five-year Reference Notes security was offered via a syndicate of dealers headed by BNP Paribas Securities, Corp., Goldman, Sachs & Co. and Barclays Capital. An application was made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange. Full Article
Freddie Mac Announces Issuance Of New Seven Year Reference Notes Security
Freddie Mac announced that it plans to issue a new seven-year USD Reference Notes security, CUSIP number 3137EADK2, due on August 1, 2019. The issue will be priced on July 27, 2012, and will settle on July 30, 2012, at benchmark size. The new seven-year Reference Notes security will be offered via a syndicate of dealers headed by Citigroup Global Markets, Barclays Capital and J.P. Morgan Chase. An application will be made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange. Full Article
Freddie Mac Names Donald H. Layton As CEO
Freddie Mac announced that its Board of Directors has appointed Donald H. Layton as Chief Executive Officer (CEO) and has elected him as a member of the Board of Directors. Layton will join the Company on May 21, 2012. Layton, 62, will succeed Charles E. 'Ed' Haldeman, Jr. Haldeman has served as CEO since August 2009, and announced in October 2011 that he would be stepping down this year. Full Article
Freddie Mac Prices New $3 Billion Five-Year Reference Notes Security
Freddie Mac announced that it priced its new 1.000% $3 billion five-year USD Reference Notes security due on June 29, 2017. The issue, CUSIP number 3137EADH9, was priced at 99.483 to yield 1.104%, or 32.5 basis points more than five-year U.S. Treasury Notes. The issue will settle on May 14, 2012, at benchmark size. The new five-year Reference Notes security was offered via a syndicate of dealers headed by Barclays Capital, BNP Paribas Securities, Corp. and Deutsche Bank Securities Inc. An application was made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange. Full Article
Freddie Mac Announces Sixth $1 Billion Multifamily Securities Offering
Freddie Mac announced a new offering of Structured Pass-Through Certificates ("K Certificates"), which are multifamily mortgage-backed securities. The company expects to offer approximately $1 billion in K Certificates ("K-018 Certificates"), which are expected to price the week of April 30, 2012, and settle on or about May 22, 2012. The K-018 Certificates will be offered to the market by a syndicate led by J.P. Morgan Securities LLC and Wells Fargo Securities, LLC as co-lead managers and joint bookrunners. Barclays Capital Inc., CastleOak Securities, L.P., Guggenheim Securities, LLC and Morgan Stanley & Co. LLC will serve as co-managers. The K-018 Certificates include two senior principal and interest classes, one senior interest only class and a junior interest only class. Fitch, Inc. and DBRS, Inc. have been engaged to rate the three senior classes of K-018 Certificates, which are each expected to receive a rating of "AAA(sf)", subject to on-going monitoring. The K-018 Certificates are backed by 75 recently-originated multifamily mortgages and are guaranteed by Freddie Mac. This is the sixth K Certificates offering this year. K Certificates provide Freddie Mac with an efficient vehicle to securitize multifamily loans. Freddie Mac is a leading issuer of agency-guaranteed structured multifamily securities. They feature a wide range of investor options with stable cash flows and a structured credit enhancement. K-Deals include guaranteed senior and interest only classes. Full Article
Freddie Mac Announces Fifth K Certificates Offering This Year, K-707, Backed By Multifamily Mortgages
Freddie Mac announced a new offering of Structured Pass-Through Certificates backed exclusively by multifamily mortgages with a 7-year term. The Company expects to offer approximately $1.1 billion in K Certificates, which are expected to price the week of April 9, 2012, and settle on or about April 26, 2012. This is Freddie Mac's fifth K Certificate offering this year. The K-707 Certificates will be offered to the market by a syndicate of dealers led by Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC as co-lead managers and joint bookrunners. J.P. Morgan Securities LLC, Jefferies & Company, Inc., UBS Securities LLC and Wells Fargo Securities, LLC will serve as co-managers. The K-707 Certificates are backed by 66 recently-originated multifamily mortgages and are guaranteed by Freddie Mac. Full Article
Freddie Mac Prices New $6.5 Billion Five-Year Reference Notes Security
Freddie Mac announced that it priced its new 1% $6.5 billion five-year USD Reference Notes security due on March 8, 2017. The issue, CUSIP number 3137EADC0, was priced at 99.525 to yield 1.096%, or 32.5 basis points more than five-year U.S. Treasury Notes. The issue will settle on January 30, 2012. The new five-year Reference Notes security was offered via a syndicate of dealers headed by J.P. Morgan Chase, Deutsche Bank Securities Inc. and Credit Suisse. An application was made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange. Full Article
Freddie Mac Announces Issuance Of New Five-Year Reference Notes Security
Freddie Mac announced that it plans to issue a new five-year USD Reference Notes security, CUSIP number 3137EADC0, due on March 8, 2017. The issue will be priced on January 27, 2012, and will settle on January 30, 2012, at benchmark size. The new five-year Reference Notes security will be offered via a syndicate of dealers headed by J.P. Morgan Chase, Deutsche Bank Securities Inc. and Credit Suisse. An application will be made to list the issue on the Euro MTF market of the Luxembourg Stock Exchange. Full Article
Freddie Mac, Fannie Mae and FHLB 2013 note calendar
May 23 - The following are scheduled sales announcement dates for potential Freddie Mac reference notes and Fannie Mae benchmark and FHLB global notes for 2013. Freddie Mac and Fannie Mae said the dates below are windows of optional note issuance. Freddie Mac and Fannie Mae said on each announcement date it will provide the maturity date and dealer syndicate, and that it may forgo any scheduled monthly issuance. FHLB said the dates below are wi
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