Freddie Mac: Information on COVID-19 BCP Preparedness

Freddie Mac: Information on COVID-19 BCP Preparedness

Investor Update
March 12, 2020

Source: Freddie Mac

With recent reports of the possible spread of COVID-19 (i.e. the coronavirus) in the United States, we understand that you may have concerns on how this may affect our ability to do business. Rest assured that Freddie Mac has business continuity plans (BCP) in place to ensure we can continue to fulfill our mission.

We are actively tracking news and information about the virus and making decisions based on guidance from the U.S. Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO). While medical experts believe that standard cold/flu-prevention practices are effective against COVID-19, if necessary, we will implement several additional precautionary measures to ensure our business can continue without disruption. These include:

  • Leveraging flexible work policy for staff,
  • Ensuring staff can simultaneously work remotely, and
  • Transferring work to other Freddie Mac locations.

As have many businesses, Freddie Mac has suspended non-essential business travel for its employees for 60 days (through early May). We are also requiring staff to follow CDC recommendations to remain home for least 14 days if traveling from an impacted area or after contact with an infected individual.

We are engaging with the Federal Housing Finance Agency and other third parties to ensure continuity of our critical business activities and our ability to provide the service and support you need when doing business with Freddie Mac.

Please reach out to your Freddie Mac representative if you have additional questions.