MCLEAN, Va., May 22, 2018 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) further reduces mortgage credit risk with the settlement of an $880 million transaction of Structured Agency Credit Risk (STACR ® ) 2018-HRP-1 Notes (STACR SHRP Notes). The SHRP Notes represent the first STACR transaction in which the notes are issued by a special purpose trust rather than as Freddie Mac debt. "STACR SHRP Notes represent our most recent innovation of our flagship STACR program and are designed to reduce the accounting volatility of our earnings and move us closer to the durable credit risk transfer (CRT) structure of the future," said Mike Reynolds, vice president of credit risk transfer. "Over the last nine months alone, we have introduced five new single-family CRT offerings and we continue to explore options to transfer mortgage credit risk per the FHFA Scorecard."