Reference REMIC® securities offer investors a structured alternative to a traditional 30- or 15-year mortgage-backed security and build on the success of Freddie Mac's guaranteed maturity class (GMC) product. Freddie Mac GMCs are structured mortgage-backed securities with a shortened stated final maturity. Freddie Mac GMCs are backed by either Gold PCs or Hybrid ARMs.
At the core of the Reference REMIC security are attributes that promote liquidity, transparency and calendar-based predictability. Freddie Mac’s Reference Notes® and Reference REMIC calendar includes optional issuance windows for its Reference REMIC securities. Reference REMICs have a $1 billion minimum issue size, with collateral known at the time of pricing. Reference REMIC securities are distributed through a multi-tiered syndicate structure with daily closing prices posted by the lead managers to TradeWeb® and Bloomberg.