Important change for ACH remittances of principal and interest

Effective March 21, 2008, Freddie Mac will change the header information displayed on all ACH debits for remittances of principal and interest custodial account payments.

What will change

The ABA number will change from 021033205 to 021039513. The company name ("Freddie Mac") and company ID ("SPI01") will remain unchanged.

What you need to do

• Determine if you and/or the depository institution have placed a debit filter on your principal and interest custodial drafting account for payments to Freddie Mac. A debit filter is a tool that allows only certain ACH transactions to debit an account.
• If there is no debit filter, then you will not need to take any further action.
• If there is a debit filter on your principal and interest custodial drafting account for payments to Freddie Mac, then you will need to update the debit filter by no later than March 20 to allow for debits from both ABA 021033205 or ABA 021039513. Effective May 1, ABA 021033205 may be removed from the debit filter but ABA 021039513 should remain.

Failure to determine if a debit filter is in place and to update it correctly may result in your depository institution's rejection of principal and interest ACH remittances to Freddie Mac and could result in late cash fees.

If you have any questions, please contact (800) FREDDIE or your Loan Portfolio Specialist.