Freddie Mac Statement in Response to New York Attorney General Subpoenas

McLEAN, Va., Nov. 7  /PRNewswire-FirstCall/ -- Because Freddie Mac retains the credit risk on the mortgages it securitizes, we depend upon accurate appraisals. In fact, accurate appraisals are fundamental to our effective credit risk management, as well as to the long-term success of homebuyers.  We therefore work closely with our lenders to ensure that all loan information is accurate. We are pleased to cooperate with the New York Attorney General's investigation and have agreed to appoint an Independent Examiner as requested.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters. 

DATASOURCE: Freddie Mac



CONTACT:  Sharon McHale of Freddie Mac, [phone]



Web site:  http://www.freddiemac.com/

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