Freddie Mac opens UMBS exchange

Freddie Mac on Tuesday opened an exchange that will allow investors to trade eligible Freddie Mac securities for TBA-eligible Uniform Mortgage Backed Securities Mirror Certificates, which will be fungible with the new GSE security that will see Fannie Mae and Freddie Mac’s markets merge into one.

  • By Alexander Saeedy
  • 07 May 2019
Freddie Mac has long been singled out as a major beneficiary of the sweeping UMBS reform, given that its bonds typically trade at a discount to that of its competitor, Fannie Mae. Once the markets merge, Fannie Mae’s premium should disappear and secondary market support for the US ...

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