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Offering Circular for Multiclass Certificates (REMIC and - Freddie Mac

Offering Circular for Multiclass Certificates (REMIC and - Freddie Mac 2025

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The document outlines the issuance and guarantee of Multiclass Certificates by Freddie Mac, including REMIC and MACR Certificates, which represent interests in pools of residential mortgages. It details the structure, payment mechanisms, tax implications, and risks associated with these securities. Freddie Mac guarantees the payment of interest and principal on these certificates but clarifies that they are not backed by the U.S. government. The document also discusses investment suitability, potential risks for investors, and specific procedures for exchanging certificates.

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What can be used as collateral for remics?

Fannie Mae MBS/DUS securities are the primary source of collateral for multifamily REMICS. Investors looking to better understand the collateral behind multifamily REMICs may find it useful to review certain aspects of our multifamily business and MBS/DUS program.

What is the highest DTI allowed?

While standards vary, most lenders prefer a DTI ratio below 35%-36%. Some mortgage lenders may allow up to 43%-45%, with loans insured by the Federal Housing Administration (FHA) allowing up to 50%.

What is the max DTI ratio for Freddie Mac?

If the Borrowers monthly DTI ratio exceeds 45%, the Mortgage is ineligible for sale to Freddie Mac. As a guideline, the monthly DTI ratio should not be greater than 36% of the Borrowers stable monthly income.

What is the housing to income ratio for Freddie Mac?

As a guideline, the monthly housing expense-to-income ratio should not be greater than 28% of the Borrowers stable monthly income. An exception can be made only with an offset documented in the Mortgage file.

Is 40% DTI too high?

35% or less is generally viewed as favorable, and your debt is manageable. You likely have money remaining after paying monthly bills. 36% to 49% means your DTI ratio is adequate, but you have room for improvement. Lenders might ask for other eligibility requirements.

How do Fannie Mae and Freddie Mac provide a secondary market for mortgage loans?

By packaging mortgages into MBS and guaranteeing the timely payment of principal and interest on the underlying mortgages, Fannie Mae and Freddie Mac attract to the secondary mortgage market investors who might not otherwise invest in mortgages, thereby expanding the pool of funds available for housing.

How does Freddie Mac help create liquidity in the mortgage market?

We also promote liquidity and make funding more available to borrowers by purchasing mortgage-related securities guaranteed by Freddie Mac and other financial institutions as investments. We fund these investments by issuing corporate debt securities.

What is the maximum LTV for a non-occupying co-borrower Freddie Mac?

Mortgages including a non-occupying Borrower The loan-to-value (LTV) ratio must not exceed 95%

Offering Circular for Multiclass Certificates (REMIC and - Freddie Mac 2025

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