How do I find out when a Callable REMIC or Callable Passthrough Certificate (CPC) has been called?
Generally, at the end of the calendar month, Freddie Mac notifies the holders of the outstanding classes that will be retired on the next payment date. Freddie Mac sends out an announcement to investors to notify them of each call. On the first business day of the month of redemption, Freddie Mac will reduce the class factor for each outstanding class to zero. Additionally, certain fixed-rate classes receive accrued interest up to, but not including, the payment date when a security is called. As a result, holders will see a higher than normal coupon for the final payment date. The Offering Circular Supplement contains a description of the call process for the deal.
Related Questions
- I hold a valid Provisional certificate. If I apply for a Permanent certificate after February 2, 2004, will it be called a Permanent or a professional certificate?
- How do I calculate accrued interest when a Callable REMIC tranche or Callable Passthrough Certificate (CPC) has been called?
- How do I find out when a Callable REMIC or Callable Passthrough Certificate (CPC) has been called?
