Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 209

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 209
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 seller of the loan and are required to: l    Offer to purchase loans for cash consideration and operate this cash window with non-discriminatory pricing; andl    Comply with directives, regulations, restrictions, or other requirements prescribed by FHFA related to equitable secondary market access by community lenders.n    Subject to such exceptions as FHFA may prescribe to permit us to acquire single-family mortgage loans that are currently eligible for acquisition, we are required to implement a program reasonably designed to ensure that each single-family mortgage is: l    A qualified mortgage; l    Expressly exempt from the CFPB’s ability-to-repay requirements; l    Secured by an investment property;l    A refinancing with streamlined underwriting for high LTV ratios; l    A loan with temporary underwriting flexibilities due to exigent circumstances, as determined in consultation with FHFA; or l    Secured by manufactured housing.Warrant CovenantsThe warrant we issued to Treasury includes, among others, the following covenants: n    Our SEC filings under the Exchange Act will comply in all material respects as to form with the Exchange Act and the rules and regulations thereunder; n    Without the prior written consent of Treasury, we may not permit any of our significant subsidiaries to issue capital stock or equity securities, or securities convertible into or exchangeable for such securities, or any stock appreciation rights or other profit participation rights to any person other than Freddie Mac or its wholly-owned subsidiaries; n    We may not take any action that will result in an increase in the par value of our common stock; n    Unless waived or consented to in writing by Treasury, we may not take any action to avoid the observance or performance of the terms of the warrant and we must take all actions necessary or appropriate to protect Treasury's rights against impairment or dilution; and n    We must provide Treasury with prior notice of specified actions relating to our common stock, such as setting a record date for a dividend payment, granting subscription or purchase rights, authorizing a recapitalization, reclassification, merger or similar transaction, commencing a liquidation of the company, or any other action that would trigger an adjustment in the exercise price or number or amount of shares subject to the warrant.Termination ProvisionsThe Purchase Agreement provides that the Treasury's funding commitment will terminate under any of the following circumstances:n    The completion of our liquidation and fulfillment of Treasury's obligations under its funding commitment at that time