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46 FREDDIE MAC'S CREDIT RISK TRANSFERS Freddie Mac announced its second Seasoned Credit Risk Transfer (SCRT) of 2019, offering a rate securitization of around $2.4 billion. e rate includes both senior and unguar- anteed subordinate securities back by seasoned reperforming loans (RPLs). "e SCRT securitization program is a fundamental part of Freddie Mac's seasoned loan offerings, which reduce less liquid assets in its mortgage-related investments portfolio and sheds credit and market risk via economically reasonable transactions," the GSE stated in the release. According to Freddie Mac, the most recent SCRT includes approximately $2.2 billion in guaranteed senior risk certificates and around $247 million in unguaranteed mezzanine and subordinated certificates. To assist borrowers who were at risk for foreclosure and help them remain in their homes, the underlying collateral consists of the modification of 12,406 fixed-and-step-rate, seasoned RPLs. Freddie Mac reported on its foreclosure pre- vention activity in its Q1 2019 financial update, and according to the Federal Housing Finance Agency, both Fannie Mae and Freddie Mac completed 13,589 foreclosure prevention actions in January. e GSE's have completed more around 4.3 million foreclosure actions since the start of conservatorship in September 2008. e RPLs are serviced by Select Portfolio Servicing, Inc, with assistance from Citigroup Global Markets Inc. and Nomura Securities International, Bank of America, Merrill Lynch, BMO Capital Markets Corp., Credit Suisse Securities LLC, Wells Fargo Securities LLC, and e Williams Capital Group, L.P. In 2019, Freddie Mac has sold $8 billion on non-performing loans and securitized more than $50 billion of RPLs. "Our guarantee book of business over the prior year grew 5%, demonstrating our height- ened competitiveness, and credit quality remains strong," said Donald H. Layton, Freddie Mac's CEO at that time. "We also delivered on our mission, making home possible for nearly 450,000 families. ese results demonstrate how the transformed Freddie Mac today is a well-run financial institution that produces solid earn- ings, serves its customers, protects taxpayers and fulfills its mission." Consumer homebuying power— how much one can buy based on changes in income and interest rates—has increased 5.2% year-over-year, according to First American data. KNOW THIS