BOAT PEOPLE SOS HELPS CONSUMERS WITH FREDDIE MAC'S CREDITSMART® ASIAN GUIDEBOOKS

Biloxi, MS – Boat People SOS (BPSOS) and Freddie Mac (NYSE: FRE) announces a new initiative to help individuals obtain much-needed homes. Utilizing Freddie Mac's CreditSmart® Asian guidebooks, BPSOS will help individuals through educational workshops and one-on-one assistance. The new CreditSmart Asian guidebooks feature information on credit and homeownership, and are designed specifically for the Asian American community. The announcement was made today during the annual Autumn Moon Fest at the Biloxi Town Green.

"Empowering the Asian community for homeownership is especially important, since it has been two years since Hurricane Katrina struck the Gulf Coast leaving most in the Asian community still without homes and in FEMA trailers. Our goal is to empower the Asian community by educating them and assisting them in buying new homes as part of the recovery," stated Dr. Nguyen Dinh Thang, Executive Director, BPSOS.

While the Asian American community is the nation's second-fastest growing minority population, the homeownership rate among them nationally is only 60 percent, trailing non-minorities by approximately 15 percent, according to the U.S. Census Bureau.

CreditSmart Asian is a multilingual series designed to provide valuable information to consumers about building and maintaining good credit, understanding steps to buying a home and protecting their investment. The guidebooks address common barriers to homeownership among Asian Americans including language, lack of knowledge of the home buying process, unverifiable income and lack of credit.

"Freddie Mac believes that the most effective way to prepare for homeownership is to become informed, empowered and educated about the importance of using credit wisely," said Christina Diaz-Malone, director of Freddie Mac. "By working with BPSOS, we are providing consumers with quality information about credit, the steps to buying a home, and the responsibilities and benefits of homeownership. We are proud to be working with BPSOS to spread CreditSmart Asian across the nation."

CreditSmart Asian features three modules:

The Importance of Good Credit – With this first guidebook, consumers learn the significance of establishing and maintaining a good credit history. This book underscores the importance of establishing a positive credit history to obtain better interest rates and loan options.

Steps to Homeownership – The second book in the series guides the consumer through the steps involved in the home buying process. Topics include how to select a real estate professional, seeking out a lender, how to determine a budget, finding the best type of mortgage loan, how to make an offer, and what to expect at settlement.

Homeowner Benefits and Responsibilities – The final book provides tips on how to maintain and protect the home once homeownership is achieved, stressing the importance of this large financial investment. The guidebook provides invaluable tips on the responsibilities of being a homeowner, such as property maintenance and repair, taxes and insurance needs, managing money and avoiding foreclosure.

The guidebooks are available through all Boat People SOS offices nationwide. For a complete set of the CreditSmart Asian guidebooks, call Boat People SOS at (228) 436-9999, or visit www.freddiemac.com/creditsmart.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily 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 more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.

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