FEDERAL HOME LOAN MORTGAGE CORPORATION (OTCMKTS:FMCC) Files An 8-K Other EventsItem 8.01. Other Events.
On July 12, 2017, the Federal Housing Finance Agency (FHFA), as conservator of Freddie Mac (formally known as the Federal Home Loan Mortgage Corporation) and Fannie Mae (formally known as the Federal National Mortgage Association), announced that it has reached a settlement with the Royal Bank of Scotland Groupplc, related companies and specifically named individuals (collectively RBS). The settlement resolves all claims in a lawsuit filed by FHFA in the United States District Court for the District of Connecticut related to private-label residential mortgage-backed securities purchased by Freddie Mac and Fannie Mae. Under the terms of the agreement, RBS will pay Freddie Mac approximately $4.525billion.
Freddie Mac Form 8-K
About FEDERAL HOME LOAN MORTGAGE CORPORATION (OTCMKTS:FMCC)
Federal Home Loan Mortgage Corporation is a government-sponsored enterprise (GSE). The Company is engaged in the investment of mortgage loans and mortgage-related securities. The Company operates in three segments: Single-family Guarantee, Multifamily and Investments. Its Single-family Guarantee segment reflects results from the Company’s single-family credit guarantee activities. The Multifamily segment reflects results from its investment, securitization and guarantee activities in multifamily loans and securities. The Investments segment reflects results from managing its mortgage-related investments portfolio, its treasury function and interest rate risk. It purchases residential mortgages originated by mortgage lenders. It packages the mortgage loans into mortgage-related securities, which are guaranteed by the Company and are sold in the global capital markets. It does not originate mortgage loans or lend money directly to consumers.
