Freddie Mac Single-Family Green Mortgage-Backed Securities Approached $1.9 Billion in 2023
Freddie Mac 2023 Green MBS Impact Report Now Available
MCLEAN, Va., June 11, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released its showing the company issued $1.85 billion of Single-Family Green Mortgage-Backed Securities (MBS) for the year. The report highlights the estimated impact of the Single-Family Green MBS program and provides an overview of Freddie Mac’s Sustainability Strategy and Single-Family Green Bond Framework.
“Freddie Mac’s 2023 Green MBS issuance increased by more than 35 percent over 2022, even as overall MBS market volume declined. Green MBS doubled as a portion of overall Freddie Mac MBS issuance, with securitization of Green MBS transitioning from a fledgling program to a core part of our business,” said Freddie Mac’s Barbara Pak, Vice President of Single-Family Securitization. “In 2024, we’re planning to lay the groundwork for further maturation and expansion of our Green MBS program, with refined energy efficiency requirements, streamlined offerings and establishment of standards designed to facilitate the long-term growth of our offerings and the overall market.”
Freddie Mac estimates that the collateral in its 2023 Single-Family Green MBS issuance:
- Saved enough energy to power more than 2,000 homes for a year,
- Avoided greenhouse gas emissions the equivalent of taking more than 2,700 cars off the road for a year, and
- Saved an estimated average of nearly $700 in annual utility costs for each homeowner with a mortgage included in a 2023 Freddie Mac Single-Family Green MBS.
From its inception in 2021 to year-end 2023 Freddie Mac Single-Family Green MBS Issuance totaled nearly $3.8 billion original unpaid principal balance of bonds. The securities were backed by more than 10,000 qualifying Freddie Mac mortgages. These included mortgages for newly constructed homes with a qualifying HERS rating; GreenCHOICE Mortgages® where the proceeds paid off existing debt used to finance the purchase and installation of solar panels; and beginning in 2023 loans backed by newly constructed homes with a renewable energy source.
For more information on how these figures were calculated and other benefits of Freddie Mac’s Single-Family Green MBS issuance and associated Single-Family Green Bond Framework, please see the and associated at .
Previously reported estimates for energy savings, greenhouse gas emissions reductions and utility cost savings have been updated to reflect the correct inputs to the calculation of these estimates in Freddie Mac’s Single-Family Green MBS reports for 2021 and 2022 and related data supplements, also posted today.
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: | | | | | |
This is not an offer to buy or sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC); all other reports Freddie Mac files with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act), excluding any information “furnished” to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information “furnished” to the SEC on Form 8-K.
The financial and other information contained in this news release and in the documents that may be accessed through this news release speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.
These materials may contain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the company’s control. Management’s expectations for the company’s future necessarily involve a number of assumptions, judgments and estimates, and various factors could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements. These assumptions, judgments, estimates and factors are discussed in the company’s most recent Annual Report on Form 10-K, and its reports on Form 10-Q and Form 8-K, which are available on the Investor Relations page of the company’s Web site at /investors and the SEC’s website at The company undertakes no obligation to update forward-looking statements it makes to reflect events or circumstances occurring after the date of this news release.
MEDIA CONTACT: Fred Solomon
703-903-3861
