Freddie Mac Obtains New $425 Million ACIS Insurance Policy
MCLEAN, Va., July 14, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today that it has obtained a new insurance policy under its ACIS (Agency Credit Insurance Structure) program.
- MCLEAN, Va., July 14, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today that it has obtained a new insurance policy under its ACIS (Agency Credit Insurance Structure) program.
- The policy provides a maximum limit of up to approximately $425 million of losses on a $48.3 billion reference pool.
- The new ACIS policys reference pool consists of fixed-rate, single-family loans with low loan-to-value (LTV) ratios between 60% and 80%.
- Freddie Mac has placed more than $1.5 billion in insurance coverage through five ACIS transactions in 2020, which represents a significant portion of the cumulative credit loss exposure Freddie Mac has laid off for the year.