CHEVY CHASE BANK AND FREDDIE MAC BRING GET THE FACTS! HOMEOWNERSHIP CAMPAIGN TO WASHINGTON, D.C. AREA

McLean, VA – Chevy Chase Bank and Freddie Mac (NYSE:FRE) announce a new first-time homebuyer campaign in conjunction with the Latino Economic Development Corporation (LEDC). The new initiative provides a grassroots campaign to demystify the homeownership process for families in the Washington, D.C. area. The Get The Facts! educational initiative involves community outreach, homebuying tips, and free workshops in English and Spanish designed to break down barriers of misinformation that keep many individuals from considering homeownership.

Through the Get The Facts! workshops, participants are provided with straightforward information and advice about all aspects of homeownership, including costs associated with homebuying and credit history requirements. Participants are encouraged to ask questions as workshop facilitators help them separate fact from fiction. By the end of each workshop, it is hoped that participants will feel empowered, with a sense that they might be able to achieve the dream of homeownership. LEDC will host the free workshops. Representatives from Chevy Chase Bank will participate in the workshops, explain how to qualify for a mortgage, take mortgage loan applications for families who are ready to purchase a home, and issue pre-approval letters to qualified participants.

"This initiative addressed a need in the community to help individuals obtain the knowledge to make informed decisions, learn about the different types of mortgage products and leverage available financial resources," said Enrique Carrillo, Director of Hispanic Banking, Chevy Chase Bank.

Chevy Chase Bank will provide flexible mortgage financing for eligible borrowers who have completed the required workshop, and Freddie Mac will then buy those loans from Chevy Chase Bank.

"The strength of this educational campaign is the many public and private organizations working together in the community to address the barriers faced by homebuyers," said Craig Nickerson, vice president of Freddie Mac. "Freddie Mac is pleased to be working with Chevy Chase and LEDC to reach qualified people who may be facing obstacles to buying a home."

"A little knowledge is a good thing," says Erick Gutierrez, Director of Homeownership Counseling at LEDC. "Pre-purchase housing counseling works, and it is the key to making sure Latinos and underserved communities get into homes that they can afford and afford to keep."

Freddie Mac, one of the nation's largest residential mortgage investors, created the Get The Facts! workshops in response to its research in 2003, which suggested that reliable, accurate information about homebuying might not be reaching minority communities. The research uncovered several common misconceptions about homebuying by African American and Latino consumers. For example, about half of African American and Latino consumers believe that they need almost perfect credit to get a loan. In addition, more than half of these consumers believe that they must have the same job for at least three years to get a loan.

For more information about attending a Get The Facts! workshop, contact LEDC at 202-588-5102 or visit www.ledcdc.org.

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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