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Freddie Mac Executes First Sale of Seriously Delinquent Loans From Its Investment Portfolio

MCLEAN, VA--(Marketwired - Aug 1, 2014) - Freddie Mac (OTCQB: FMCC) today announced it has sold deeply delinquent loans from its investment portfolio. The transaction consists of $659 million in unpaid principal balance of loans. It is expected to close later this month.

The sale was conducted via a competitive auction at the end of July and executed indirectly through Bank of America affiliates. Twenty-two prospective buyers participated in the auction. Freddie Mac selected the winning bidder on the basis of economics.

The transaction was well received by the market and Freddie Mac will continue to look for opportunities to reduce exposure to less liquid assets in its investment portfolio.

The co-advisers for this transaction were Bank of America Merrill Lynch and Credit Suisse Securities.

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. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at www.FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog www.FreddieMac.com/blog.








 

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 The information could be out of date and no longer accurate.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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