• Company Profile
• News and Information Center
  • Media Room
  • Corporate Facts
  • Officer Biographies
  • Speeches and Statements
  • Economic and Housing Research
  • Industry Reports and Publications
  • Primary Mortgage Market Survey®
  • News Release Archives
  • Subscription Center
  • RSS Feeds
• Corporate Citizenship
• Investor Relations
• Careers

STATEMENT BY RICHARD F. SYRON, CHAIRMAN AND CEO OF FREDDIE MAC, ON CAPITAL INITIATIVE

McLean, VA – There has been no change to the Joint Statement released by OFHEO on March 19, 2008 which involved reducing the GSEs' OFHEO-directed capital surplus from 30 percent to 20 percent to be invested in mortgages and mortgage-backed securities. As part of the Joint Statement, Freddie Mac announced that it would begin the process to raise "significant capital."

Freddie Mac's understanding of the Joint Statement is that any additional capital raised would be consistent with the dollar amount of the reduction in the OFHEO-directed capital surplus from 30 percent to 20 percent.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.

###