NEW INITIATIVE TO HELP HOLY CROSS HOSPITAL EMPLOYEES OWN HOMES NEAR THEIR WORKPLACE

Features Include Homeownership Counseling, Low Downpayment Mortgages

McLean, VA – Holy Cross Hospital, Freddie Mac (NYSE: FRE), Bank of America and Home Free USA announce a unique collaborative initiative to help Holy Cross Hospital employees own homes near their workplace. Through this initiative, Holy Cross Hospital will be positioned to help its employees purchase their first home by utilizing a variety of resources that include flexible mortgage products and homebuyer education classes.

To prepare employees for the challenges of homeownership, Home Free USA will conduct free homebuyer education classes at Holy Cross Hospital. The classes are designed to educate consumers about credit and money management, provide insight into how lenders access credit histories, and explain the role of credit in achieving financial goals, such as homeownership. Home Free USA has provided homeownership education and counseling to more than 20,000 families in the last 10 years.

A major tool within this initiative is access to mortgage products and services that are designed to meet the individual needs of consumers. Holy Cross Hospital has chosen Bank of America as their referral partner for mortgage programs. In addition to the flexible mortgage programs Bank of America offers, many Holy Cross Hospital employees can take advantage of the bank's exclusive Neighborhood Champions mortgage designed specifically for medical workers, police officers, firefighters and teachers. Bank of America account executives will work with employees to help them select the mortgage program that meets their individual needs. As one of the nation's largest investors in residential mortgages, Freddie Mac will purchase eligible mortgages from Bank of America.

Holy Cross Hospital offers numerous programs that support employee efforts to improve their careers and their lives. In May 2006, for the seventh year in a row, the hospital was selected by the Maryland Worklife Alliance as a recipient of the ‘Workplace Excellence' Seal of Approval. President and CEO, Kevin J. Sexton says that participation in the home benefit program adds to that commitment.

"Many individuals haven't pursued homeownership because of a lack of information about the home-buying process, less-than-perfect credit, and/or insufficient funds for a down payment," said Craig Nickerson, vice president of Freddie Mac. "Employer assisted homeownership programs are solutions that are increasingly being utilized. "We are pleased to be part of this effort to help Holy Cross Hospital employees live near where they work and to strengthen the community through homeownership."

"We are excited to be part of this program that will open doors to homeownership for Holy Cross Hospital employees," said Glenda Gabriel, Bank of America Neighborhood Lending executive. "Combining our resources is one of the best ways to make homeownership possible for those who provide critical services in our communities."

The Workforce Home Benefit is a signature Freddie Mac initiative that is available across the country. Freddie Mac developed the offering to help employers throughout the United States foster homeownership for their employees. Workforce Home Benefit can be customized to meet employers' needs. Freddie Mac also offers a Workforce Home Benefit to its own employees.

Holy Cross Hospital is a faith-based, mission-driven community teaching hospital serving the residents of Montgomery and Prince George's counties. The Hospital is a member of Trinity Health of Novi, Michigan, the nation's fourth largest Catholic healthcare system. Holy Cross Hospital was founded in 1963, and today, with more than 30,000 annual admissions, is the second largest hospital in Maryland. Holy Cross Hospital offers a full range of inpatient and outpatient primary and specialty care services.

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 ownership possible for one in six homebuyers and two million renters in America.

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