Freddie Mac Launches its Free, Interactive Financial Education Curriculum in Spanish

CreditSmart Essentials offers interactive, personalized, self-paced learning for real-world scenarios

MCLEAN, Va., July 18, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today the launch of its CreditSmart Essentials free financial education curriculum in Spanish. Specifically, the company is expanding its content, design and platform to better meet the needs of Spanish-speaking consumers. Doing so will help bolster educational efforts around the importance of building, maintaining and using credit.

The Spanish-language version of CreditSmart Essentials offers educational tools to prepare future borrowers to rent or purchase a home. It also provides tools for housing industry professionals to share the expanded resources with consumers.

“Providing outreach and resources to expand housing opportunities, particularly for diverse communities, is an integral part of our mission at Freddie Mac,” said Sonu Mittal, senior vice president of Single-Family Acquisitions at Freddie Mac. “The new CreditSmart Spanish language curriculum will provide this important population with a personalized experience tailored to educate and empower them to take hold of their financial future.”

As of February 2023, 8.1 million Latinos aged 45 and under were considered mortgage-ready based on their credit characteristics. Moreover, Latinos make up the largest share of near-mortgage ready individuals compared to other minority groups with an opportunity to improve their overall mortgage-readiness through financial education and counseling.

CreditSmart Essentials offers a robust curriculum with a customizable learning journey that breaks down content into digestible pieces. Based on a consumer’s financial goals, foundational knowledge and learning style, the tool offers an interactive experience where one can set individualized goals, create a vision board and check-in on their progress.

Freddie Mac is also partnering with a wide variety of Latino advocacy and industry groups to raise awareness of this new tool and the benefits of homeownership.

“Latinos are the fastest growing group of new homeowners in the United States and our research projects they will account for seven out of every ten new homeowners over the next two decades,” said Gary Acosta, CEO and Co-Founder, National Association of Hispanic Real Estate Professionals. “The importance of having access to high-quality credit education resources like CreditSmart Essentials in Spanish cannot be overstated because an educated homebuyer lays the foundation for a successful homeownership experience.”