Are all Freddie Mac mortgage-backed securities cleared through the Fed Wire system?
The majority of Freddie Mac mortgage-backed securities are in the book entry form and cleared through the Fed Wire system. However, some older mortgage-backed securities such as Penny Pools and GMCs can only be held in definitive form. In addition, high coupon REMIC bonds and REMIC Residual bonds must also be in definitive form. REMIC Retail bonds, GNMA-backed Giant securities and GNMA-backed REMICs are cleared through the Depository Trust and Clearing Corporation (DTCC) instead of the Fed Wire System.
