San Diego, CA -- (SBWIRE) -- 10/31/2013 -- Federal Home Loan Mortgage Corp (OTCBB:FMCC) announced that it has begun securitizing performing Home Affordable Modification Program modified mortgage loans that are held in the company's mortgage-related investments portfolio.
These loans that are being scrutinized by Freddie Mac were modified to assist borrowers who were at risk of foreclosure thus assisting them with keeping their homes.
Adama Kah, Freddie Mac Vice President of Distressed Assets Management stated that this program facilitates securitization of HAMP modified loans that are reperforming into Freddie Mac Mortgage Participation Certificates that create potential for liquidity and transparency of pricing for HAMP loans. This initiative makes the path clear for securitizations of larger portions of the distressed assets portfolio and would lead to new, additional investment options for investors.
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