Freddie Mac Chairman John Koskinen Statement on President Obama's Making Home Affordable Initiative

MCLEAN, Va., March 4  /PRNewswire-FirstCall/ -- The following statement was released today by John Koskinen, chairman of the board, Freddie Mac (NYSE: FRE):

"Freddie Mac wholly supports President Obama's groundbreaking effort to stabilize our communities by helping millions of distressed homeowners obtain more affordable and sustainable mortgage terms.  Bringing needed financial relief to America's homeowners is critical to the recovery of the economy here at home and across the world.

Freddie Mac's resources are aligned to make the Obama Administration's Making Home Affordable program a success.  We look forward to working with lenders, servicers, nonprofits, the Administration, and the Federal Housing Finance Agency, over the coming months as this vital initiative is fully implemented and injects new stability into the nation's housing market."

To determine their eligibility under Making Home Affordable program, borrowers should contact their mortgage servicer, the company where they send their monthly mortgage payments.  For more information about Making Home Affordable program go to http://www.financialstability.gov/.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters. 

DATASOURCE: Freddie Mac



CONTACT:  Sharon McHale, [phone]



Web Site:  http://www.financialstability.gov/

http://www.freddiemac.com/ 

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