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Presale: Freddie Mac STACR REMIC Trust 2022-DNA6

Similarly to other recent structured agency credit risk (STACR) issuances, Freddie Mac STACR REMIC Trust 2022-DNA6 (STACR 2022-DNA6) is structured as a real estate mortgage investment conduit (REMIC). This structure better protects investors from potential future counterparty risk exposure to Freddie Mac. The trust's assets are intended to fund interest and principal payments on the notes, although investors still have the benefit of a Freddie Mac backstop in the case of any shortfalls. From a cash flow perspective, in prior STACR credit-linked note structures, investment gains on the note proceeds were the sole source of funds to make note interest payments, with a dependency on the sponsor to fund any excess amounts of interest due. However, in the current REMIC