Freddie Mac Selects JPMorgan to Provide Technology and Securities Services for $700 Billion Asset Portfolio

Freddie Mac’s decision to outsource these processing and recordkeeping functions is a key component of the company’s ongoing initiatives to work with world–class providers to upgrade its technological capabilities and streamline its operating infrastructure. Linking JPMorgan’s state–of–the–art technology to Freddie Mac’s advanced trading platform and developing accounting infrastructure will help the company reconcile transactions and close its books on a more expedited basis.

“Freddie Mac is committed to achieving a higher level of organizational strength and focus across all of our operations,” said Joseph Rossi, senior vice president for Freddie Mac. “By working with a world–class provider like JPMorgan, we are simplifying our operating environment, saving time and money and more efficiently managing our investment assets at the Federal Reserve Bank and the Depository Trust Company. JPMorgan’s state–of–the–art systems, scalable infrastructure and technology management experience with governments, central banks, make them a terrific choice for Freddie Mac.”

JPMorgan Worldwide Securities Services will provide administrative and settlement services for Freddie Mac’s estimated $700 billion retained portfolio of longer–term assets (primarily Freddie Mac–issued mortgage–backed securities) and an estimated $70 billion liquidity and contingency portfolio of short–term assets with a variety of issuers that support mortgage investment and debt–funding activities.

“JPMorgan is delighted that Freddie Mac selected us for this mandate, which will represent the industry’s largest ever. We are pleased that Freddie Mac recognizes our leadership position in management technology and this further strengthens the deep relationship between our two firms,” said Michael Clark, head of JPMorgan Worldwide Securities Services. “The size, scale, strength and breadth of JPMorgan’s people, products and services means that we can meet Freddie Mac’s needs today and well into the future.”

For more information visit Freddie Mac or JPMorgan Worldwide Securities Services on the Web.

About Freddie Mac
Freddie Mac is a stockholder–owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage–related securities, which it finances primarily by issuing mortgage–related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and nearly four million renters in America. www.freddiemac.com .

About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $11.7 trillion in assets under custody. JPMorgan provides innovative custody and securities services as well as clearance and trust services to the world’s largest institutional investors and debt and equity issuers.

About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.

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