Payment Calculations for Mortgage-Backed Securities

Product Overview

Payment Calculations for

Single Family Mortgage-Backed Securities

The formulas listed below illustrate calculations of the interest payments and principal payments for

Freddie Mac¡¯s Single Family mortgage-backed securities products.

Examples of how a July payment is calculated are depicted below for 45-day, 55-day and 75-day securities.

For 55-day securities, the ¡°Payment Date¡± is the 25th day of each month, or if the 25th day is not a business day,

the next business day applies.

For 45-day and 75-day securities, the ¡°Payment Date¡± is the 15th day of each month, or if the 15th day is not a

business day, the next business day applies.

July Payment Example

55-DAY SECURITIES

Interest Payment = (PAR) (June Factor) (Rate/12)

Principal Payment = (June Factor ¨C July Factor) (PAR)

45-DAY SECURITIES

Interest Payment = (PAR) (June Factor) (Rate/12)

Principal Payment = (June Factor ¨C July Factor) (PAR)

75-DAY SECURITIES

Interest Payment = (PAR) (May Factor) (Rate/12)

Principal Payment = (May Factor ¨C June Factor) (PAR)

DEFINITIONS: PAR - Original Security Balance at Issuance; Rate - Security Coupon Interest Rate; Factor - Eight digit decimal

which represents the percentage of the original balance of the pool or tranche that is outstanding as of a given date

This product overview is not an offer to sell or solicitation of an offer to buy any Freddie Mac securities. Offers for any given security

are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac¡¯s Information Statement

and related supplements.

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August 2019

July Payment Example

Record Date

Payment Date

Accrual Period

Calculations are based on a 30 day month and 360 day year. Consult your applicable Offering Circular

Supplement to determine the accrual period that corresponds with your security.

UMBS, Supers,

MBS REMICs and Strips

Participation Certificates (PC)

55-DAY

45-DAY

75-DAY

May

1

June

June

30

31

1

1

July

15

30

30

June

15

30

30

1

1

July

15

July

15

30

1

1

15

15

25

31

15

31

31

REMIC Tranche (Fixed or Floater with Delay)

45-DAY

55-DAY

June

June

1

1

July

15

30

30

July

15

30

1

1

25

15

31

31

75-DAY

May

May

1

1

June

15

31

June

15

30

31

1

OR

July

14

14

30

1

July

15

30

1

15

15

1

15

15

31

31

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August 2019

REMIC Tranche (Floater with Zero Delay)

45-DAY

55-DAY

75-DAY

May

1

June

June

1

1

July

15

30

30

14

1

30

July

25

1

June

15

July

14

15 15

1

30

24 25

14

15

14 15

14

31

31

1

31

Factor disclosed in first month is applicable to accrual period shown.

Ginnie Mae Backed REMICs

FIXED & FLOATER WITH DELAY

FLOATER WITH ZERO DELAY

June

June

Previous

Payment

Date

July

30

Fixed & Floater

with Delay

Floater with

Zero Delay

July

30

1

Payment

Date

Payment

Date

Ginnie Mae-backed REMICs have a number of different payment dates. Consult your applicable Offering Circular Supplement to determine the

date that corresponds with your REMIC.

For additional information about Freddie Mac payment calculations and mortgage-backed securities, visit

Freddie Mac¡¯s Web site at mbs or contact Investor Inquiry at

investor_inquiry@.



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August 2019

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