Freddie Mac Won't Issue Jan. Reference REMIC
Austin Kilgore | 01.02.09 www.dsnews.com
McLean, Virginia-based Freddie Mac announced Friday it will not issue a Reference Real Estate Mortgage Investment Conduit (REMIC) security during the week of January 12, 2009.
January marks the seventh consecutive month that Freddie Mac has not issued the REMIC, which have a shorter state final maturity than traditional 15- or 30-year mortgage-backed securities, and as such, are more liquid than other securities.
Subject to market conditions, Freddie Mac attempts to issue at least one Reference REMIC security every quarter that will contain at least one guaranteed maturity class with a minimum tranche size of $1 billion.
Freddie Mac issues an annual calendar with a monthly scheduled week, generally the second full week of the month, when it will potentially issue to security.
