DS News

DS News December 2022

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Page 90 of 99

89 89 INVESTMENT GOVERNMENT PROPERTY PRESERVATION Journal Follow Us At: @DSNewsDaily FREDDIE MAC REPORTS IMPACT OF SINGLE-FAMILY GREEN MBS ISSUANCE Freddie Mac has released its Green MBS Impact Report for 2021, providing transparency under the enterprise's Single-Family Green Bond Framework. In addition to reporting the impact of the Single-Family Green MBS Program's 2021 issuance, the report provides an overview of Freddie Mac's Corporate Environ- mental, Social, and Governance (ESG) focus ar- eas, and Single-Family Green Bond Framework. According to the report, 2021 Freddie Mac Single-Family Green MBS Issuance totaled $617 million of bonds, backed by 2,454 Freddie Mac GreenCHOICE Mortgage refinance loans. At least a portion of proceeds from each refinanced mortgage paid off the existing debt that had been used to finance the purchase and installation of solar panels as a renewable energy source. Prior to MBS issuance, Freddie Mac confirmed the presence of a renewable energy source installed on the properties securing each of the mortgages included in the issuance. "Freddie Mac's sustainability focus strength- ens our commitment to our mission and helps us drive long-term value for our stakeholders while making a difference in our communities," said Freddie Mac's Mark Hanson, SVP, Securitiza- tion. "is first Single-Family Impact Report covers the inaugural year of Green Mort- gage-Backed Security issuance. But instead of a summary and conclusion, this report is just the beginning of our journey. We intend to innovate in this space and foster a market for these loans." To calculate the metrics described in the report, Freddie Mac developed a methodol- ogy in coordination with Earth Advantage Inc., a 501(c)(3) nonprofit working to create an informed and humane residential real estate marketplace. Based on the methodology, Freddie Mac estimates that its 2021 Single-Family Green MBS issuance: » Netted enough energy to power 1,877 homes; » Avoided greenhouse gas emissions the equivalent of taking 2,433 cars off the road for a year; and » Saved an average of $1,027 in annual utility costs for each homeowner with a GreenCHOICE Mortgage included in a 2021 Freddie Mac Single-Family Green MBS.

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