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Freddie Mac First Look Initiative Gives Homebuyers 15 Days to Buy HomeSteps® Homes Without Investor Competition

MCLEAN, Va. Sept. 15 /PRNewswire/ -- Freddie Mac (OTC Bulletin Board: FMCC) today announced it is expanding the Freddie Mac First Look Initiative on September 17, 2010 so any home shopper can buy a HomeSteps® home as their primary residence during the first 15 days of the property's listing without competition from investors. HomeSteps is the real estate sales unit of Freddie Mac and markets a nationwide selection of Freddie Mac-owned homes.

  News Facts

  --  The Freddie Mac First Look Initiative supports Freddie Mac's mission
      to stabilize communities and foster affordable homeownership
      opportunities by giving homebuyers 15 days to buy a HomeSteps home as
      their primary residence without investor competition.
  --  In Nevada, the Freddie Mac First Look Initiative offers buyers who
      plan to become owner-occupants a 30 day window to shop without
      investor competition.
  --  Investment, vacation or second home purchasers are ineligible for the
      Freddie Mac First Look Initiative.
  --  Today's announcement builds on the national First Look effort the U.S.
      Department of Housing and Urban Development and National Community
      Stabilization Trust (NCST) launched on September 1, 2010 to provide an
      exclusive 12-day window to owner-occupant buyers working with
      Neighborhood Stabilization Programs (NSP) grantees non-profits working
      with NCST.
  --  The Freddie Mac First Look Initiative will provide a 15-day window to
      buyers working with NSP and NCST affiliated groups.
  --  Home shoppers should contact their local real estate broker or visit
      HomeSteps.com for more information about the Freddie Mac First Look
      Initiative.

  Quotes

  Attribute to Chris Bowden, Vice President, HomeSteps.

  --  "The Freddie Mac First Look Initiative will provide America's home
      shoppers with an exceptional new opportunity to buy affordable homes
      to live in at a time when mortgage rates are at a 50-year low."
  --  "Expanding the Freddie Mac First Look Initiative emphasizes Freddie
      Mac's commitment to manage its REO inventory to help stabilize
      communities, foster affordable homeownership opportunities, and
      responsibly safeguard tax dollars."

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

First Call Analyst:
FCMN Contact:

SOURCE: Freddie Mac

CONTACT: Brad German, Freddie Mac, +1-703-903-2437,
Brad_German@freddiemac.com

Web Site: http://www.freddiemac.com/

 
 

The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac does not undertake an obligation, and disclaims any duty, to update any of the information in those documents. Freddie Mac's future performance, including financial performance, is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the company's future results are discussed more fully in our reports filed with the SEC.


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