Freddie Mac Outsources Some Technology and Securities Services to Streamline Operations, Upgrade Capabilities
July 21, 2006
As part of a new strategy to upgrade its technological capabilities and streamline its operating infrastructure, Freddie Mac this week announced it will outsource its transaction processing and recordkeeping services for its massive MBS portfolio to a JPMorgan Chase subsidiary. JPMorgan Worldwide Securities Services reports $11.7 trillion in assets under custody and services $7 trillion in debt worldwide. …