MCLEAN, Va., April 08, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced pricing of the first Seasoned Credit Risk Transfer Trust (SCRT) offering of 2021—a securitization of approximately $1.2 billion including both guaranteed senior and unguaranteed subordinate securities backed by a pool of seasoned re-performing loans (RPLs). The SCRT securitization program is a fundamental part of Freddie Mac's seasoned loan offerings which reduce less liquid assets in its mortgage-related investments portfolio and sheds credit and market risk via economically reasonable transactions.

Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2021-1 includes approximately $1.1 billion in guaranteed senior certificates and approximately $85 million in unguaranteed mezzanine and subordinate certificates. The mezzanine certificates will be rated. The transaction is expected to settle on April 13, 2021. The underlying collateral consists of 11,123 fixed-, step-, and adjustable-rate, never modified and modified seasoned RPLs, which were modified to assist borrowers who were at risk of foreclosure to help them keep their homes. Consistent with SCRT program criteria, as of the cut-off date, all the mortgage loans, including approximately 0.27% on a forbearance plan, have been performing and have not been delinquent for at least the previous 6 months using the MBA method of calculation.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.