Freddie Mac 8.375% Perpetual Preferred Stock (FMCKJ)
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Trump's Bessent To Explore GSE Restructuring Options
Fannie Mae and Freddie Mac, despite record net worths, remain in conservatorship with Trump expected to push for privatization and restructuring through incoming Treasury Secretary Scott Bessent. Bill Ackman argues common shares are undervalued, but preferred shares offer anti-dilution protection; I favor preferred shares due to uncertainty. Bessent's and Pulte's confirmation sets the stage for an equity restructuring, impacting common and junior preferred shareholders.
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Freddie Mac 8.375% Perpetual Preferred Stock Profile
| Mortgage Real Estate Investment Trusts (REITs) Industry | Financials Sector | Dr. Michael Thomas Hutchins CEO | OTCQB Exchange | US3134006242 ISIN |
| US Country | 8,004 Employees | 30 Jun 2008 Last Dividend | - Last Split | 3 Mar 1989 IPO Date |
Overview
The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, is a key player in the United States secondary mortgage market. Founded in 1970 and headquartered in McLean, Virginia, Freddie Mac's primary mission is to provide liquidity, stability, and affordability to the U.S. housing market. It accomplishes this by purchasing mortgages from lenders, thereby providing them with the capital necessary to make more loans. The corporation operates through two main segments: Single-Family and Multifamily, each tailored to service different aspects of the housing finance ecosystem.
Products and Services
Single-Family Segment: This segment is dedicated to the purchasing, securitizing, and guaranteeing of single-family loans. It plays a crucial role in managing the credit and market risk associated with these mortgages while overseeing the securitization activities and a mortgage-related investments portfolio. The services under this segment include:
- Mortgage Purchasing and Securitization: Buying and pooling single-family mortgages to create mortgage-backed securities, which are then sold to investors. This process helps in providing liquidity to the mortgage market.
- Guarantees: Offering guarantees on mortgage-backed securities to enhance their creditworthiness and attract a wider range of investors.
- Risk Management: Managing and mitigating the risks associated with the single-family mortgage portfolio and securitization activities.
- Treasury Functions: Overseeing the corporation’s financing, investing, and cash management activities related to the single-family segment.
Multifamily Segment: This segment focuses on the purchasing, securitization, and guarantee of loans for multifamily properties. It also involves the issuance of K certificates and the management of multifamily mortgage credit and market risks. The services under this segment aim to support the availability and affordability of rental housing. They include:
- Multifamily Loan Purchasing and Securitization: Similar to the Single-Family segment, this service involves buying and pooling multifamily loans for securitization. The process supports liquidity and investment in the multifamily sector.
- K Certificates Issuance: Issuing multifamily K certificates, which are backed by multifamily mortgage loans, to diversify the investment opportunities for a variety of investors.
- Credit and Market Risk Management: Actively monitoring and managing the risks related to the multifamily loans and securities portfolio.
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