Freddie Mac Sells Off Residential Mortgage Credit Risk in Second STACR Transaction
November 5, 2013
Today Freddie Mac issued a press release announcing our second Structured Agency Credit Risk (STACR®) offering that enables us to sell off single-family residential mortgage credit risk.
The STACR pool announced today consists of a subset of 30-year fixed-rate single-family mortgages acquired by Freddie Mac in the first quarter of 2013, excluding Home Affordable Refinance Program and other government-insured loans.
This offering aligns with the Federal Housing Finance Agency’s 2013 Conservatorship Scorecard goal of bringing more private capital to the secondary mortgage market and reducing taxpayer risk.
As with our first STACR credit risk transfer offering that settled in July 2013, borrowers whose loans are included in the STACR reference pool are still eligible for the Making Home Affordable programs, including the Home Affordable Modification Program.
With STACR, you are able to continue selling loans to Freddie Mac, maintaining the same liquidity and pricing transparency as you have today, and since we retain servicing control there will be no changes to the servicing requirements or the support we provide on loss mitigation.
Please contact your Freddie Mac representative with any questions.