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Freddie Mac to eliminate cleanup calls from pass-through certificates

Freddie Mac on Sept. 7 announced that it will not include issuer cleanup call rights in its single-family multiclass certificates and multifamily structured pass-through certificates.

The company will also not exercise existing cleanup call rights related to outstanding single-family multiclass certificates and multifamily structured pass-through certificates. Cleanup calls are redemption rights executable at the behest of the issuer to redeem securities with a minimal outstanding principal balance.