MCLEAN, Va., April 23, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today that, beginning in May 2019, its Investor Reporting Change Initiative (IRCI) will revise Single-Family investor reporting requirements. This includes moving the investor reporting cycle from mid-month to end-of-month and updating remittance cycles.
The company is making the changes to promote alignment and industry standards for the Uniform Mortgage Backed Security (UMBS).
IRCI updates will be effective beginning with the June 6, 2019 monthly factor/disclosure for all currently issued PCs. This initiative will also apply to the new Freddie Mac UMBS and MBS, which Freddie Mac expects it will begin issuing on June 3, 2019.
For more information regarding the IRCI changes for PCs, please refer to http://www.freddiemac.com/mbs/docs/f354news.pdf
or, for details on the IRCI effort, please visit http://www.freddiemac.com/singlefamily/service/investor_reporting_changes.html.
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.
MEDIA CONTACT: Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com