OÅering Circular Supplement $1,400,000,000(To OÅering CircularDated June 1, 2003)

Freddie MacReference REMICSM

Series R009

OÅered Classes: REMIC Classes shown below, Call Class shown on page S-3 and MACR Classes shownon Appendix A

OÅering Terms: The underwriters named below are oÅering the Classes in negotiated transactions atvarying prices; we have agreed to buy all of AB, VA, VB and ZA

Closing Date: October 16, 2006

REMIC Original Principal Class Interest CUSIP Final PaymentClasses Balance Type(1) Coupon Type(1) Number Date

AB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $1,148,000,000 GMC/SEQ 6.0% FIX 31397BMG3 December 15, 2018AX(2) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 1,148,000,000 SEQ 6.0 FIX 31397BMX6 September 15, 2034VA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 55,440,000 AD/SEQ 6.0 FIX 31397BN49 March 15, 2015VB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 110,880,000 SEQ 6.0 FIX 31397BN56 November 15, 2024ZA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 85,680,000 SEQ 6.0 FIX/Z 31397BN72 October 15, 2036R ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31397BN23 October 15, 2036RA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 NPR 0.0 NPR 31397BN31 December 15, 2018

(1) See Appendix II to the OÅering Circular.(2) This Class backs the Guaranteed Maturity Class and will not be oÅered initially. See Terms Sheet Ì Guaranteed Maturity Class.

The CertiÑcates may not be suitable investments for you. You should not purchase CertiÑcates unless you have

carefully considered and are able to bear the associated prepayment, interest rate, yield and market risks of

investing in them. Certain Risk Considerations on page S-2 highlights some of these risks.

You should purchase CertiÑcates only if you have read and understood this Supplement, the attached OÅering

Circular and the documents listed under Available Information.

We guarantee principal and interest payments on the CertiÑcates and the proceeds due on the Call Class upon

exercise of the Call Right. These payments and proceeds are not guaranteed by and are not debts or obligations

of the United States or any federal agency or instrumentality other than Freddie Mac. The CertiÑcates are not

tax-exempt. Because of applicable securities law exemptions, we have not registered the CertiÑcates with any

federal or state securities commission. No securities commission has reviewed this Supplement.

Lead Underwriters

Citigroup Credit Suisse Goldman, Sachs & Co.

Co-Underwriters

Barclays Capital Bear, Stearns & Co. Inc. Merrill Lynch & Co.

October 10, 2006

CERTAIN RISK CONSIDERATIONS

Although we guarantee the payments on the CertiÑcates, and so bear the associated credit risk,

as an investor you will bear the other risks of owning mortgage securities. This section highlights

some of these risks. You should also read Risk Factors and Prepayment, Yield and Suitability

Considerations in the OÅering Circular for further discussions of these risks.

The CertiÑcates May Not be Suitable Investments for You. The CertiÑcates are complex

securities. You should not purchase CertiÑcates unless you are able to understand and bear the

associated prepayment, interest rate, yield and market risks.

In particular, the Interest Only, Principal Only, Accrual, Call and Residual Classes have

special risks and are not suitable for all investors.

Prepayments Can Reduce Your Yield. The yield on your CertiÑcates could be lower than you

expect if:

‚ You buy your CertiÑcates at a premium over their principal amount and principal

payments are faster than you expect.

‚ You buy your CertiÑcates at a discount to their principal amount and principal

payments are slower than you expect. This is especially true for the Principal Only

Class.

If you buy the Interest Only Class and prepayments are fast, you may not even recover your

investment.

The CertiÑcates are Subject to Market Risks. You will bear all of the market risks of your

investment. The market value of your CertiÑcates will vary over time, primarily in response to

changes in prevailing interest rates. If you sell your CertiÑcates when their market value is low, you

may experience signiÑcant losses.

‚ Secondary Market. The underwriters named on the front cover (the ""Underwriters'')

intend to make a market for the purchase and sale of the Classes after they are issued,

but have no obligation to do so. A secondary market may not develop. Even if one does

develop, it may not be liquid enough to allow you to sell your CertiÑcates easily or at

your desired price.

‚ Market Value of Call Class. The value of the Call Class will depend primarily on the

market value of the Underlying REMIC Class (which will depend on prevailing interest

rates and other market and economic conditions), market expectations about its future

value, and the costs associated with any exercise of the Call Right. If you own the Call

Class, you should consider the risk that you may lose all of your initial investment.

Our Multiclass CertiÑcates OÅering Circular dated June 1, 2003 (the ""OÅering Circular''),

attached to this Supplement, deÑnes many of the terms we use in this Supplement.

S-2

TERMS SHEET

This Terms Sheet contains selected information about this Series. You should refer to the

remainder of this Supplement for further information.

In this Supplement, we refer to Classes only by their letter designations. For example, ""R''

refers to the R Class of this Series.

Payment Dates

We make payments of principal and interest on the CertiÑcates on each monthly Payment Date

beginning in November 2006.

Form of Classes

Regular and MACR Classes: Book-entry on Fed System

Residual and Call Classes: CertiÑcated

Guaranteed Maturity Class

The Call Class, Callable Class and Underlying REMIC Class related to the Guaranteed

Maturity Class shown on the front cover are shown below.

Call Underlying GuaranteedClass CUSIP Number REMIC Class Callable Class Maturity Class Final Payment Date

A1 31397BMF5 AX AY AB December 15, 2018

The Holder of the Call Class may direct Freddie Mac to redeem the Guaranteed Maturity

Class on its Final Payment Date and acquire the Underlying REMIC Class.

See Appendix VI to the OÅering Circular and General Information Ì Structure of

Transaction.

Interest

The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and

Appendix A.

AP is a Principal Only Class and does not bear interest.

Notional Class

Original NotionalClass Principal Amount Reduces Proportionately With

AI* $1,148,000,000 AB (GMC/SEQ)

* MACR Class.

See Payments Ì Interest Ì Notional Class.

MACR Classes

This Series includes MACR Classes. Appendix A shows the characteristics of the MACR

Classes and the Combinations of REMIC and MACR Classes. See Appendix III to the OÅering

Circular.

S-3

We will permit MACR exchanges beginning on December 1, 2006. However, we may eÅect

MACR exchanges prior to December 1, 2006 in connection with the oÅering of AB (or one or more

related MACR Classes) through one or more underwriters as described under Plan of Distribution.

In addition, we reserve the right to approve certain other MACR exchanges prior to December 1,

2006, in our discretion.

Principal

REMIC Classes

On each Payment Date, we pay:Sequential A

Pay andB ‚ The Accrual Amount to VA and VB, in that order, until retired, and then to ZA

AccrualD

ASequentialB ‚ The Asset Principal Amount to AX, VA, VB and ZA, in that order, until retiredPayD

AGMC/ ‚‚ On each Payment Date, principal payments allocated to AX, as described above, willSequential

B

PayD be distributed to AB, while outstanding

See Payments Ì Principal and Prepayment and Yield Analysis.

MACR Classes

On each Payment Date when MACR CertiÑcates are outstanding, we allocate principal

payments from the applicable REMIC CertiÑcates to the related MACR CertiÑcates that are

entitled to principal, as described under MACR CertiÑcates in the OÅering Circular.

REMIC Status

We will form a Single-Tier REMIC Pool and a Guaranteed Maturity REMIC Pool for this

Series. We will elect to treat each REMIC Pool as a REMIC under the Code. R and RA will be

""Residual Classes'' and the other Classes shown on the front cover will be ""Regular Classes.'' The

Residual Classes will be subject to transfer restrictions. See Certain Federal Income Tax Conse-

quences in this Supplement and the OÅering Circular.

If you purchase the Call Class, you will be treated for federal income tax purposes as

purchasing a call option on the Underlying REMIC Class. See Certain Federal Income Tax

Consequences Ì CPCs Ì Status of the CPC Classes Ì The Call Class and Ì Taxation of the CPC

Classes Ì The Call Class in our Giant and Other Pass-Through CertiÑcates OÅering Circular dated

September 1, 2005.

S-4

Weighted Average Lives (in years)*

PSA Prepayment Assumption

0% 100% 289% 450% 600%

AB, AC, AD, AE, AF, AG, AH, AI, AJ, AK, AL,AM, AN, AO and APÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 11.2 7.5 3.9 2.8 2.2

AX ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 19.0 8.4 3.9 2.8 2.2BA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 29.0 24.0 13.5 9.1 6.9VA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4.6 4.6 4.6 4.2 3.7VB ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 13.7 13.7 10.0 7.1 5.5VC ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 10.6 10.6 8.2 6.1 4.9ZA ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 29.0 24.0 15.3 10.9 8.4The AssetsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20.8 11.2 5.6 3.9 3.1

* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to diÅer from those shown, perhaps signiÑcantly.

The Assets

The ""Assets'' consist of Freddie Mac Gold PCs and Gold Giant PCs (the ""PCs'') with the

following characteristics:

Original TermPrincipal Balance (in years) Interest Rate

$1,400,000,000 30 6.0%

See General Information Ì Structure of Transaction.

We have attached a schedule of the PCs that will constitute the Assets as Schedule I to this

Supplement.

We have agreed to sell the Assets to the Underwriters for inclusion in this Series.

Assumed Mortgage Characteristics (as of October 1, 2006)Remaining Term Per Annum

to Maturity Loan Age Per Annum Interest RatePrincipal Balance (in months) (in months) Interest Rate of Related PCs

$1,377,367,000 355 4 6.467 6.0%20,657,000 351 7 6.673 6.01,976,000 319 33 6.470 6.0

$1,400,000,000 355* 4* 6.470*

* Weighted average by principal balance.

The actual characteristics of the Mortgages diÅer from those shown, in some cases

signiÑcantly.

See General Information Ì The Mortgages and Schedule I.

S-5

AVAILABLE INFORMATION

You should purchase CertiÑcates only if you have read and understood this Supplement, the

OÅering Circular and the following documents:

‚ Our Mortgage Participation CertiÑcates OÅering Circular dated October 14, 2005 and

the related OÅering Circular Supplements dated December 1, 2005, July 31, 2006,

August 10, 2006 and September 1, 2006, which together describe Gold PCs generally.

‚ Our Giant and Other Pass-Through CertiÑcates OÅering Circular dated September 1,

2005, which describes Gold Giant PCs generally.

‚ Our Information Statement dated June 28, 2006 and any subsequent Information

Statement and Information Statement Supplements published through the time of

purchase.

This Supplement incorporates by reference the documents listed above. You should rely only

on the most current information provided or incorporated by reference in this Supplement.

You can obtain the documents listed above, the Agreement and current information concerning

the Assets and the CertiÑcates from our Investor Inquiry Department or our Internet Web-Site as

described on page 3 of the OÅering Circular. You can also obtain the documents listed above from

the lead Underwriters at:

Citigroup Global Markets Inc. Credit Suisse Securities (USA) LLC Goldman, Sachs & Co.Prospectus Department Prospectus Department Prospectus Department

Brooklyn Army Terminal 11 Madison Avenue 85 Broad Street140 58th Street, Suite 8G New York, New York 10010-3629 Concourse LevelBrooklyn, New York 11220 (212) 325-2580 New York, New York 10004

(718) 765-6732 (212) 902-1171

GENERAL INFORMATION

The Agreement

We will create the CertiÑcates under the Multiclass CertiÑcates Agreement dated June 1, 2003

and a Terms Supplement dated the Closing Date (together, the ""Agreement'').

You should refer to the Agreement for a complete description of your rights and obligations and

those of Freddie Mac. You will acquire your CertiÑcates subject to the terms and conditions of the

Agreement, including the Terms Supplement.

Form of CertiÑcates

The Regular and MACR Classes are issued, held and transferable on the Fed System. The

Residual Classes are issued and held in certiÑcated form and are transferable at the oÇce of the

Registrar.

The Call Class is issued and held in certiÑcated form as a single certiÑcate and is transferable at

the oÇce of the Registrar.

Only a Fed Participant can be a Holder of a Regular or MACR Class. As an investor in

CertiÑcates, you are not necessarily the Holder.

S-6

See Description of CertiÑcates Ì Form, Holders and Payment Procedures in the OÅering

Circular.

Structure of Transaction

Callable Pool

This Series has a Callable Pool, as follows:

Callable Class Call Class Callable Pool AssetIssued from Issued from (Underlying

Callable Pool Callable Pool REMIC Class)

AY A1 AX

REMIC Pools

This Series has two REMIC Pools, as follows:

REMIC Pool Classes Issued from REMIC Pool REMIC Pool Assets

Single-Tier All Regular Classes (other than AB) and R The Assets

Guaranteed Maturity AB and RA AY (Callable Class)

See Description of CertiÑcates Ì REMIC Pool Structures in the OÅering Circular.

The Assets

The Assets are Gold PCs and Gold Giant PCs. The Assets are shown on Schedule I. We have

attached a glossary of terms used on Schedule I as Schedule II to this Supplement.

The Mortgages

The Mortgages underlying the Assets (the ""Mortgages'') are Ñxed-rate, Ñrst lien residential

mortgages and mortgage participations.

For purposes of this Supplement, we have made certain assumptions regarding the Mortgages,

as shown under Terms Sheet Ì Assumed Mortgage Characteristics. However, the actual character-

istics of most of the Mortgages diÅer from those assumed, perhaps signiÑcantly. This is the case

even if the weighted average characteristics of the Mortgages are the same as those of mortgages

having the characteristics assumed.

We will furnish the Assets from our own portfolio. Assets from our portfolio, or from other

sources, may emphasize speciÑc Mortgage characteristics, such as loan purpose, source of origina-

tion, geographic distribution or loan size, or speciÑc borrower characteristics, such as credit rating or

equity in the property. You can obtain information about the underlying Mortgage characteristics

for the Assets from our Internet Web-Site.

PAYMENTS

Payment Dates; Record Dates

We make payments of principal and interest on the CertiÑcates on each Payment Date,

beginning in the month following the Closing Date. A ""Payment Date'' is the 15th of each month

or, if the 15th is not a Business Day, the next Business Day.

S-7

On each Payment Date, any payment on a CertiÑcate is made to the Holder of record as of the

end of the preceding calendar month (a ""Record Date'').

Method of Payment

You will receive payments on your CertiÑcates in the manner described under Description of

CertiÑcates Ì Form, Holders and Payment Procedures in the OÅering Circular.

Categories of Classes

For purposes of principal and interest payments, we have categorized the Classes as shown

under ""Principal Type'' and ""Interest Type'' on the front cover and Appendix A. Appendix II to the

OÅering Circular explains the abbreviations used for categories of Classes.

Interest

We pay 30 days' interest on each Payment Date to the Holders of each Class on which interest

has accrued, except that the Accrual Class receives payments as described below. We calculate each

interest payment on the outstanding balance of the Class as of the related Record Date and on the

basis of a 360-day year of twelve 30-day months.

Accrual Period

The ""Accrual Period'' for each Payment Date is the preceding calendar month.

Fixed Rate Classes

The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and

Appendix A.

Call Class

A1 is a Call Class and does not bear interest.

Principal Only Class

The Principal Only Class is shown under Terms Sheet Ì Interest. It does not bear interest.

Notional Class

The Notional Class does not receive principal payments. For calculating interest payments, it

has a notional principal amount that will reduce as shown under Terms Sheet Ì Notional Class.

Accrual Class

ZA is an Accrual Class. The Accrual Class does not receive interest payments; rather, interest

accrued on the Accrual Class during each Accrual Period is added to its principal amount on the

related Payment Date. We pay principal on the Accrual Class, including accrued interest that has

been added to its principal amount, as described under Terms Sheet Ì Principal.

S-8

Principal

We pay principal on each Payment Date to the Holders of the Classes on which principal is

then due. Holders receive principal payments on a pro rata basis among the CertiÑcates of their

Class.

Amount of Payments

The principal payments on the CertiÑcates on each Payment Date equal:

‚ The amount of interest accrued on the Accrual Class during the related Accrual Period

and not payable as interest on that Payment Date (the ""Accrual Amount'').

‚ The amount of principal required to be paid in the same month on the Assets (the

""Asset Principal Amount'').

Allocation of Payments

On each Payment Date, we pay the Accrual Amount and the Asset Principal Amount for that

Payment Date as described under Terms Sheet Ì Principal.

Call Class

The Call Class does not receive payments of principal. The Call Class has a notional principal

amount equal at all times to the principal amount of the Guaranteed Maturity Class.

Class Factors

General

We make Class Factors available on or about the Ñfth business day of each month after the

Closing Date. See Description of CertiÑcates Ì Payments Ì Class Factors in the OÅering Circular.

Use of Factors

You can calculate principal and interest payments by using the Class Factors.

For example, the reduction (or for the Accrual Class, the increase) in the balance of a

CertiÑcate in February will equal its original balance times the diÅerence between its January and

February Class Factors. The amount of interest to be paid on (or for the Accrual Class, added to the

principal amount of) a CertiÑcate in February will equal 30 days' interest at its Class Coupon,

accrued during the related Accrual Period, on the balance of that CertiÑcate determined by its

January Class Factor.

Guarantees

We guarantee to each Holder of a CertiÑcate the timely payment of interest at its Class

Coupon and the payment of its principal amount as described in this Supplement. We guarantee to

the Holder of the Call Class all proceeds due upon exercise of the Call Right. See Description of

CertiÑcates Ì Payments Ì Guarantees in the OÅering Circular.

S-9

1% Clean-up Call

We have a 1% Clean-up Call Right as to the Single-Tier REMIC Pool. If we exercise this

right, all of the Classes then outstanding will be paid in full and will retire. See Description of

CertiÑcates Ì Payments Ì 1% Clean-up Call in the OÅering Circular.

Residual Proceeds

Upon surrender of their CertiÑcates to the Registrar, the Holders of each Residual Class will

receive the proceeds of any remaining assets of the related REMIC Pool after all required principal

and interest payments on the Classes have been made. Any remaining assets are likely to be

insigniÑcant. See Description of CertiÑcates Ì Payments Ì Residual Classes in the OÅering

Circular.

PREPAYMENT AND YIELD ANALYSIS

General

Mortgage Prepayments

The rates of principal payments on the Assets and the CertiÑcates will depend on the rates of

principal payments, including prepayments, on the underlying Mortgages. The Mortgages are

subject to prepayment at any time without penalty. Mortgage prepayment rates Öuctuate continu-

ously and, in some market conditions, substantially. See Prepayment, Yield and Suitability

Considerations Ì Prepayments in the OÅering Circular for a discussion of Mortgage prepayment

considerations and risks.

Yield

As an investor in the CertiÑcates, your yield will depend on:

‚ Your purchase price.

‚ The rate of principal payments on the underlying Mortgages.

‚ The actual characteristics of the underlying Mortgages.

‚ If you own an interest-bearing Class, the delay between its Accrual Period and the

related Payment Date.

See Prepayment, Yield and Suitability Considerations Ì Yields in the OÅering Circular for a

discussion of yield considerations and risks.

Suitability

The CertiÑcates may not be suitable investments for you. See Prepayment, Yield and

Suitability Considerations Ì Suitability in the OÅering Circular for a discussion of suitability

considerations and risks.

S-10

Modeling Assumptions

To prepare the tables in this Supplement, we have made several assumptions. Unless otherwise

noted, each table employs the following assumptions (the ""Modeling Assumptions''), among

others:

‚ The Mortgages have the characteristics shown under Terms Sheet Ì Assumed Mort-

gage Characteristics.

‚ The Classes and Assets always receive payments on the 15th of the month, whether or

not a Business Day.

‚ We do not exercise our 1% Clean-up Call Right.

‚ Each Class is outstanding from the Closing Date to retirement and no exchanges occur.

The Modeling Assumptions, like any other stated assumptions, are likely to diÅer from actual

experience in many cases. For example, the Mortgages have characteristics more diverse than those

assumed, many Payment Dates will occur on a Business Day after the dates assumed and we may

exercise our 1% Clean-up Call Right. Moreover, Mortgage prepayment rates will diÅer from the

percentages of PSA shown in the tables. These diÅerences will aÅect the actual payment behavior,

weighted average lives and yields of the Classes, perhaps signiÑcantly.

See Prepayment, Yield and Suitability Considerations Ì Tabular Information in Supplements

in the OÅering Circular for descriptions of weighted average life and yield calculations and the PSA

prepayment model.

Prepayment and Weighted Average Life Considerations

Accretion Directed Class

Payments of principal on the Accretion Directed Class should be stable under relatively slow

prepayment scenarios because the Accrual Amount will be dedicated to making principal payments

on that Class until it retires. The weighted average life of the Accretion Directed Class cannot

exceed its weighted average life as shown in the following table under any prepayment scenario, even

a scenario where there are no prepayments. Based on the Modeling Assumptions, the Accretion

Directed Class would retire on, but not before, its Final Payment Date if the underlying Mortgages

prepay at any constant rate at or below the rate shown for that Class until it retires.

The principal payment stability of the Accretion Directed Class is supported primarily by its

receipt of the Accrual Amount. It is protected against early retirement by the Classes shown in the

table. When those Classes retire, however, the Accretion Directed Class, if outstanding, will become

sensitive to Mortgage prepayments and may retire before its Final Payment Date.

Accretion Directed Class

MaximumWeighted

Average Life Prepayment RateClass (in years) Final Payment Date at or below Protected By

VA ÏÏÏÏÏ 4.6 March 15, 2015 321% PSA AX and the Guaranteed Maturity Classes

The underlying Mortgages have characteristics that diÅer from the Modeling Assumptions. As

a result, even if the Mortgages prepay at a rate at or somewhat below the rate shown for the

S-11

Accretion Directed Class, that Class could retire before its Final Payment Date and its weighted

average life could shorten.

Sequential Pay Classes

The Sequential Pay Classes receive principal payments from the Asset Principal Amount in a

prescribed sequence.

MACR Classes

The payment characteristics of the MACR Classes reÖect the payment characteristics of their

related REMIC Classes.

Declining Balances Table

The following table shows:

‚ Percentages of original balances (as of the Closing Date) that would be outstanding

after each of the Payment Dates shown at various percentages of PSA.

‚ Corresponding weighted average lives.

We have prepared this table using the Modeling Assumptions. However, for 0% PSA we have

assumed that each Mortgage (a) has an interest rate 2.5% higher than that of the PCs and (b) has a

remaining term to maturity of 360 months and a loan age of 0 months. We have calculated weighted

average lives for the Notional Class assuming that a reduction in its notional principal amount is a

reduction in principal balance.

S-12

Percentages of Original Balances Outstanding* and Weighted Average Lives

AB, AC, AD, AE, AF, AG,AH, AI, AJ, AK, AL, AM,

AN, AO and AP AX BA VA

PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption

Date 0% 100% 289% 450% 600% 0% 100% 289% 450% 600% 0% 100% 289% 450% 600% 0% 100% 289% 450% 600%

Closing Date ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100October 15, 2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 99 96 91 87 83 99 96 91 87 83 100 100 100 100 100 90 90 90 90 90October 15, 2008 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 98 89 75 64 54 98 89 75 64 54 100 100 100 100 100 80 80 80 80 80October 15, 2009 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 97 81 57 40 26 97 81 57 40 26 100 100 100 100 100 70 70 70 70 70October 15, 2010 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 96 74 43 22 8 96 74 43 22 8 100 100 100 100 100 58 58 58 58 58October 15, 2011 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 95 66 31 10 0 95 66 31 10 0 100 100 100 100 86 46 46 46 46 0October 15, 2012 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 93 60 21 1 0 93 60 21 1 0 100 100 100 100 54 33 33 33 33 0October 15, 2013 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 92 53 13 0 0 92 53 13 0 0 100 100 100 75 34 20 20 20 0 0October 15, 2014 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 90 47 6 0 0 90 47 6 0 0 100 100 100 53 21 5 5 5 0 0October 15, 2015 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 88 42 1 0 0 88 42 1 0 0 100 100 100 38 13 0 0 0 0 0October 15, 2016 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 86 37 0 0 0 86 37 0 0 0 100 100 83 27 8 0 0 0 0 0October 15, 2017 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 84 32 0 0 0 84 32 0 0 0 100 100 67 19 5 0 0 0 0 0October 15, 2018 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 82 27 0 0 0 82 27 0 0 0 100 100 54 14 3 0 0 0 0 0October 15, 2019 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 79 23 0 0 0 100 100 43 10 2 0 0 0 0 0October 15, 2020 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 76 18 0 0 0 100 100 34 7 1 0 0 0 0 0October 15, 2021 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 73 15 0 0 0 100 100 27 5 1 0 0 0 0 0October 15, 2022 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 70 11 0 0 0 100 100 22 3 0 0 0 0 0 0October 15, 2023 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 66 7 0 0 0 100 100 17 2 0 0 0 0 0 0October 15, 2024 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 63 4 0 0 0 100 100 13 2 0 0 0 0 0 0October 15, 2025 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 58 1 0 0 0 100 100 10 1 0 0 0 0 0 0October 15, 2026 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 54 0 0 0 0 100 92 8 1 0 0 0 0 0 0October 15, 2027 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 49 0 0 0 0 100 80 6 1 0 0 0 0 0 0October 15, 2028 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 43 0 0 0 0 100 68 5 0 0 0 0 0 0 0October 15, 2029 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 37 0 0 0 0 100 57 3 0 0 0 0 0 0 0October 15, 2030 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 31 0 0 0 0 100 47 2 0 0 0 0 0 0 0October 15, 2031 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 24 0 0 0 0 100 38 2 0 0 0 0 0 0 0October 15, 2032 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 16 0 0 0 0 100 28 1 0 0 0 0 0 0 0October 15, 2033 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 8 0 0 0 0 100 20 1 0 0 0 0 0 0 0October 15, 2034 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 94 12 0 0 0 0 0 0 0 0October 15, 2035 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 49 4 0 0 0 0 0 0 0 0October 15, 2036 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Weighted AverageLife (Years)ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 11.2 7.5 3.9 2.8 2.2 19.0 8.4 3.9 2.8 2.2 29.0 24.0 13.5 9.1 6.9 4.6 4.6 4.6 4.2 3.7

VB VC ZA The Assets

PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption

Date 0% 100% 289% 450% 600% 0% 100% 289% 450% 600% 0% 100% 289% 450% 600% 0% 100% 289% 450% 600%

Closing Date ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100October 15, 2007 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 97 97 97 97 97 106 106 106 106 106 99 97 93 89 86October 15, 2008 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 93 93 93 93 93 113 113 113 113 113 98 91 80 70 62October 15, 2009 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 90 90 90 90 90 120 120 120 120 120 98 85 65 51 39October 15, 2010 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 100 86 86 86 86 86 127 127 127 127 127 97 78 53 36 25October 15, 2011 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 92 82 82 82 82 62 135 135 135 135 135 95 72 43 26 16October 15, 2012 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 100 13 78 78 78 78 9 143 143 143 143 143 94 67 35 19 10October 15, 2013 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 52 0 73 73 73 35 0 152 152 152 152 101 93 62 28 13 6October 15, 2014 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 100 100 100 0 0 68 68 68 0 0 161 161 161 157 63 92 57 23 10 4October 15, 2015 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 95 95 95 0 0 63 63 63 0 0 171 171 171 112 39 90 52 19 7 2October 15, 2016 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 87 87 49 0 0 58 58 32 0 0 182 182 182 80 25 89 48 15 5 2October 15, 2017 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 78 78 3 0 0 52 52 2 0 0 193 193 193 57 15 87 44 12 3 1October 15, 2018 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 69 69 0 0 0 46 46 0 0 0 205 205 158 40 10 85 40 10 2 1October 15, 2019 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 59 59 0 0 0 39 39 0 0 0 218 218 127 29 6 83 37 8 2 0October 15, 2020 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 49 49 0 0 0 32 32 0 0 0 231 231 101 20 4 81 33 6 1 0October 15, 2021 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 38 38 0 0 0 25 25 0 0 0 245 245 80 14 2 78 30 5 1 0October 15, 2022 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 26 26 0 0 0 17 17 0 0 0 261 261 64 10 1 75 27 4 1 0October 15, 2023 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 14 14 0 0 0 9 9 0 0 0 277 277 50 7 1 72 24 3 0 0October 15, 2024 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 294 39 5 1 69 21 2 0 0October 15, 2025 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 294 30 3 0 66 19 2 0 0October 15, 2026 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 271 23 2 0 62 17 1 0 0October 15, 2027 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 235 18 1 0 58 14 1 0 0October 15, 2028 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 201 13 1 0 53 12 1 0 0October 15, 2029 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 169 10 1 0 49 10 1 0 0October 15, 2030 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 139 7 0 0 43 8 0 0 0October 15, 2031 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 110 5 0 0 37 7 0 0 0October 15, 2032 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 84 3 0 0 31 5 0 0 0October 15, 2033 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 294 58 2 0 0 24 4 0 0 0October 15, 2034 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 276 35 1 0 0 17 2 0 0 0October 15, 2035 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 144 12 0 0 0 9 1 0 0 0October 15, 2036 ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Weighted AverageLife (Years)ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 13.7 13.7 10.0 7.1 5.5 10.6 10.6 8.2 6.1 4.9 29.0 24.0 15.3 10.9 8.4 20.8 11.2 5.6 3.9 3.1

* Rounded to nearest whole percentage.

S-13

Yield Tables

The following tables show pre-tax yields to maturity (corporate bond equivalent) of speciÑed

Classes at various percentages of PSA. We have prepared these tables using the Modeling

Assumptions and the assumed prices in the table captions, plus accrued interest, if any. Actual sales

will not necessarily occur at the assumed prices.

Pre-Tax Yields

AI Class(Assumed Price: 17.63346%)

100% PSA 289% PSA 411% PSA 450% PSA 600% PSA

26.7% 11.3% 0.0% (3.7)% (17.6)%

AP Class(Assumed Price: 83.57687%)

100% PSA 289% PSA 450% PSA 600% PSA

2.5% 4.8% 6.8% 8.4%

S-14

FINAL PAYMENT DATES

The Final Payment Date for each Class is the latest date by which it will be paid in full and will

retire. Except in the case of the Guaranteed Maturity Classes, we calculate Final Payment Dates

using highly conservative assumptions. The actual retirement of each Class may occur earlier than

its Final Payment Date.

CERTAIN FEDERAL INCOME TAX CONSEQUENCES

General

Any discussion of tax matters herein and in the OÅering Circular was not intended or written to

be used, and cannot be used, by any person for the purpose of avoiding tax penalties that may be

imposed on such person. Such discussion was written to support the promotion and marketing of the

CertiÑcates. Investors should consult their own independent tax advisors regarding the CertiÑcates

and each investor's particular circumstances.

Subject to the assumptions described under Certain Federal Income Tax Consequences Ì

REMIC Election in the OÅering Circular, the Single-Tier REMIC Pool and the Guaranteed

Maturity REMIC Pool will each qualify as a REMIC for federal income tax purposes.

Regular Classes

The Regular Classes are ""regular interests'' in the Single-Tier REMIC Pool and the

Guaranteed Maturity REMIC Pool, as applicable. See General Information Ì Structure of Trans-

action. They are treated as debt instruments for federal income tax purposes and may be issued with

original issue discount (""OID'') or at a premium. Based in part on information provided by the

Underwriters regarding the initial prices at which they would have expected to sell or will sell

substantial portions of the Regular Classes, we expect to report income to the Internal Revenue

Service and to Holders of the Regular Classes (other than the Underlying REMIC Class) assuming

they are issued as follows:

‚ OID: ZA.

‚ Premium: AB, VA and VB.

OID generally results in recognition of taxable income in advance of the receipt of cash

attributable to that income. The Pricing Speed used for OID and premium calculations is

289% PSA. For purposes of OID and premium calculations with respect to the Guaranteed

Maturity Class, however, we will also take into account the mandatory retirement of that Class on

its Final Payment Date. See Certain Federal Income Tax Consequences Ì Taxation of Regular

Classes Ì Original Issue Discount and Ì Premium in the OÅering Circular. Mortgage prepayment

rates will diÅer, perhaps signiÑcantly, from the Pricing Speed.

Residual Classes

Each Residual Class is the ""residual interest'' in its related REMIC Pool. See General

Information Ì Structure of Transaction. Special tax considerations apply to the Residual Classes.

The taxation of the Residual Classes can produce a signiÑcantly less favorable after-tax return than

S-15

if (a) the Residual Classes were taxable as debt instruments or (b) no portion of the taxable income

on the Residual Classes were treated as ""excess inclusions.'' In certain periods, taxable income and

the resulting tax liability on a Residual Class may exceed any payments on that Class. See Certain

Federal Income Tax Consequences Ì Taxation of Residual Classes in the OÅering Circular.

A substantial tax may be imposed on certain transferors of a Residual Class and certain

beneÑcial owners of a Residual Class that are ""pass-through entities.'' See Certain Federal Income

Tax Consequences Ì Transfers of Interests in a Residual Class Ì DisqualiÑed Organizations in the

OÅering Circular. You should not purchase a Residual Class before consulting your tax advisor.

We will report with respect to the Guaranteed Maturity REMIC Pool assuming that such

REMIC Pool (a) owns an undivided interest in the Underlying REMIC Class and (b) has written a

call option to the Holder of the Call Class. We will report assuming that the basis of such REMIC

Pool in the Underlying REMIC Class includes any value associated with Freddie Mac's obligation

to make a contribution to that REMIC Pool on the Final Payment Date for the Guaranteed

Maturity Class pursuant to Freddie Mac's guarantee. We do not expect the Holders of RA to have

any material adverse tax consequences as a result of this treatment, but investors should consult

their tax advisors regarding this matter.

Certain Transfers of Residual Classes

The REMIC Regulations disregard:

1. A transfer of a ""noneconomic residual'' unless no signiÑcant purpose of the transfer is to

impede the assessment or collection of tax.

2. Except in certain cases, a transfer of a residual interest to a foreign investor or a transfer of a

residual interest from a foreign investor to a U.S. investor. Accordingly, the Agreement

prohibits the transfer of an interest in a Residual Class to or from a foreign investor without

our written consent.

See Certain Federal Income Tax Consequences Ì Transfers of Interests in a Residual Class Ì

Additional Transfer Restrictions in the OÅering Circular. In the case of a transfer that is

disregarded, the transferor would continue to be treated as the owner of the residual interest and

thus would continue to be subject to tax on its allocable portion of the net income of the REMIC.

Residual Classes with Negative Fair Market Values

Recently, the Treasury issued Ñnal regulations addressing the treatment of a payment made to a

transferee on the transfer of a ""noneconomic residual'' interest. Under these regulations, the

transferee does not immediately recognize the payment as income. Rather, the payment is

recognized as income over a period that is reasonably related to the period during which the

REMIC is expected to generate taxable income or net loss allocable to the holder of the

noneconomic Residual Class. The regulations also provide the following two safe harbor methods for

tax accounting for the payment:

‚ A transferee may recognize the payment for federal income tax purposes in the same

amounts and over the same period in which the payment is included in the transferee's

income for Ñnancial reporting purposes, provided that such period is not shorter than the

period over which the REMIC is expected to generate taxable income.

S-16

‚ A transferee may recognize the payment for federal income tax purposes ratably over

the ""anticipated weighted average life of the REMIC,'' as deÑned in the REMIC

Regulations, as determined at the time the transferee acquires the residual interest.

The regulations state that the unamortized amount of the payment would be currently included

by a transferee on disposition of the Residual Class. Additionally, the regulations provide that a

transferee's treatment of the payment is a method of accounting that must be consistently applied to

all such payments received by the transferee in connection with noneconomic Residual Classes.

Finally, the regulations state that such payment shall be treated as income from U.S. sources. The

regulations are eÅective for taxable years ending on or after May 11, 2004.

Certain federal income tax consequences of a payment made to a transferee on the transfer of a

Residual Class remain unclear. For example, the regulations do not address whether a residual

interest could have a negative basis and a negative issue price.

If you receive a payment in connection with the acquisition of a Residual Class, you should

consult your tax advisor as to the proper treatment of such payment.

Foreign Investors in Pass-Through Entities Holding a Residual Class

The Treasury has recently issued temporary regulations that may accelerate the time for

withholding with respect to excess inclusions allocable to foreign investors in a partnership (or in

another type of pass-through entity) that holds a Residual Class. The regulations are eÅective as to

allocations of income on or after August 1, 2006.

Reporting and Administrative Matters

We will provide Holders of the Residual Classes information to enable them to prepare reports

required under the Code or applicable Treasury regulations. Because we do not intend to hold the

Residual Classes, applicable law may not allow us to perform tax administrative functions for the

REMIC Pools. Therefore, if you own a Residual Class, you may have certain tax administrative

obligations, for which we will act as your attorney-in-fact and agent. See Certain Federal Income

Tax Consequences Ì Reporting and Administrative Matters in the OÅering Circular.

Taxation of the Call Class

The purchase price that you pay for the Call Class will be treated as an option premium. The

option premium will be treated as a loss if the option lapses, and that loss will be a capital loss. If you

purchase the Underlying REMIC Class pursuant to the exercise of the Call Right, the option

premium (in addition to any fee for the exchange) will be added to your basis in the Underlying

REMIC Class.

The Call Class will not be a qualifying asset for a REMIC. Special considerations may also

apply to thrifts, real estate investment trusts and regulated investment companies investing in the

Call Class. These entities should consult their tax advisors before investing in the Call Class.

MACR Classes

The arrangement under which the MACR Classes are created (the ""MACR Pool'') will be

classiÑed as a grantor trust under subpart E, part I of subchapter J of the Internal Revenue Code.

The interests in the Regular Classes that have been exchanged for the MACR Classes will be the

assets of the MACR Pool and the MACR Classes will represent beneÑcial ownership of these

assets.

S-17

For a discussion of certain federal income tax consequences applicable to the MACR Classes,

see Certain Federal Income Tax Consequences Ì Taxation of MACR Classes, Ì Exchanges of

MACR Classes and Regular Classes and Ì Taxation of Certain Foreign Investors in the OÅering

Circular.

LEGAL INVESTMENT CONSIDERATIONS

You should consult your legal advisor to determine whether the CertiÑcates are a legal

investment for you and whether you can use the CertiÑcates as collateral for borrowings. See Legal

Investment Considerations in the OÅering Circular.

ERISA CONSIDERATIONS

Fiduciaries of ERISA plans should review ERISA Considerations in the OÅering Circular.

PLAN OF DISTRIBUTION

Under an agreement with the Underwriters, we have agreed to sell all of the REMIC

CertiÑcates to the Underwriters in exchange for the Assets.

We have agreed to buy all of AB, VA, VB and ZA from the Underwriters. We expect that we

will oÅer AB (or one or more related MACR Classes) to the public through one or more

underwriters in the future. We will describe any such oÅering in a Supplement to this OÅering

Circular Supplement.

The Underwriters intend to:

‚ Redeliver the Underlying REMIC Class to us for inclusion in the Callable Pool.

‚ OÅer the Residual Classes in negotiated transactions at varying prices to be determined

at the time of sale.

‚ OÅer the Call Class in a negotiated transaction with a single purchaser at a price to be

determined at the time of sale.

The Underwriters are oÅering the Residual and Call Classes subject to their issuance by us and

subject to the Underwriters' right to reject any order. The Underwriters may make sales to or

through securities dealers. These dealers may receive compensation in the form of discounts,

concessions or commissions from the Underwriters and commissions from any purchasers for which

they act as agents.

Our agreement with the Underwriters provides that we will indemnify them against certain

liabilities.

LEGAL MATTERS

Our General Counsel (or one of our Deputy General Counsels) will render an opinion on the

legality of the CertiÑcates. Cleary Gottlieb Steen & Hamilton LLP is representing the Underwriters

on legal matters concerning the CertiÑcates.

S-18

A-1

Appen

dix

A

Ava

ilab

le C

om

bin

atio

ns

REM

IC C

ertiÑca

tes

MAC

R C

ertiÑca

tes

Exch

ange

MAC

RM

axim

um

Exch

ange

Cla

ssIn

tere

stC

USIP

REM

IC C

lass

Origi

nal

Bal

ance

Pro

port

ions(

1)

Cla

ssO

rigi

nal

Bal

ance

Pro

port

ions(

1)

Princi

pal

Typ

e(2)

Coupon

Typ

e(2)

Num

ber

Fin

al P

aym

ent D

ate

Com

bin

atio

n 1

AB

$1,1

48,0

00,0

00

100%

AC

$1,1

48,0

00,0

00

N/A

GM

C/SEQ

5.0

%FIX

31397B

MH

1D

ecem

ber

15, 2018

AD

1,1

48,0

00,0

00

N/A

GM

C/SEQ

5.1

25

FIX

31397B

MJ7

Dec

ember

15, 2018

AE

1,1

48,0

00,0

00

N/A

GM

C/SEQ

5.2

5FIX

31397B

MK

4D

ecem

ber

15, 2018

AF

1,1

48,0

00,0

00

N/A

GM

C/SEQ

5.3

75

FIX

31397B

ML

2D

ecem

ber

15, 2018

AG

1,1

48,0

00,0

00

N/A

GM

C/SEQ

5.5

FIX

31397BM

M0

Dec

ember

15, 2018

AH

1,1

48,0

00,0

00

N/A

GM

C/SEQ

5.6

25

FIX

31397B

MN

8D

ecem

ber

15, 2018

AI

1,1

48,0

00,0

00

N/A

NTL(G

MC

/SEQ

)6.0

FIX

/IO

31397B

MP

3D

ecem

ber

15, 2018

AJ

1,1

48,0

00,0

00

N/A

GM

C/SEQ

5.7

5FIX

31397B

MQ

1D

ecem

ber

15, 2018

AK

1,1

48,0

00,0

00

N/A

GM

C/SEQ

5.8

75

FIX

31397B

MR

9D

ecem

ber

15, 2018

AL

1,1

24,5

71,4

28

N/A

GM

C/SEQ

6.1

25

FIX

31397B

MS

7D

ecem

ber

15, 2018

AM

1,1

02,0

80,0

00

N/A

GM

C/SEQ

6.2

5FIX

31397B

MT

5D

ecem

ber

15, 2018

AN

1,0

80,4

70,5

88

N/A

GM

C/SEQ

6.3

75

FIX

31397B

MU

2D

ecem

ber

15, 2018

AO

1,0

59,6

92,3

07

N/A

GM

C/SEQ

6.5

FIX

31397B

MV

0D

ecem

ber

15, 2018

AP

1,1

48,0

00,0

00

N/A

GM

C/SEQ

0.0

PO

31397BM

W8

Dec

ember

15, 2018

Com

bin

atio

n 2

VA

$55,4

40,0

00

33.3

333333333%

VC

$166,3

20,0

00

100%

SEQ

6.0

%FIX

31397B

N9

8N

ovem

ber

15, 2024

VB

110,8

80,0

00

66.6

666666667

Com

bin

atio

n 3

VA

$55,4

40,0

00

22%

BA

$252,0

00,0

00

100%

SEQ

6.0

%FIX

31397B

N8

0O

ctob

er 1

5, 2036

VB

110,8

80,0

00

44

ZA

85,6

80,0

00

34

(1)

Exc

han

ge p

ropor

tion

s ar

e co

nstan

t pro

por

tion

s of

the

orig

inal bal

ance

s of

the

REM

IC C

lass

es o

r M

AC

R C

lass

es, as

applica

ble

. In

acc

ordan

ce w

ith t

he

exch

ange

pro

por

tion

s, y

ou m

ayex

chan

ge R

EM

IC C

ertiÑca

tes

for M

AC

R C

ertiÑca

tes, a

nd v

ice

vers

a. T

he

exch

ange

pro

por

tion

s ar

e not

applica

ble

to

the

MA

CR

Cla

sses

des

ignat

ed b

y ""N

/A

.'' See

Appen

dix

III

to

the

OÅer

ing

Circu

lar

for

a des

crip

tion

of ""ra

tio-

strippin

g'' M

AC

R C

lass

es o

f th

is typ

e.(2)

See

Appen

dix

II

to the

OÅer

ing

Circu

lar.

I-1

Sch

edule

I

PC

Sch

edule

(1)

PC

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Origi

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Fin

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Pay

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A16691

31296R

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6,4

83,0

34

$340,1

36

$97,9

57

6.6

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6.0

%D

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1, 2003

Dec

ember

1, 2033

316

35

A24463

31297B5Y

447,5

51,6

77

2,0

73,8

45

904,6

02

6.5

00

6.0

July

1, 2004

July

1, 2034

325

27

A27124

31297E4H

66,4

40,8

92

95,0

00

70,4

50

6.2

50

6.0

Sep

tem

ber

1, 2004

Oct

ober

1, 2034

333

25

A27483

31297FJ4

649,0

24,9

28

189,3

20

117,4

60

6.2

50

6.0

Oct

ober

1, 2004

Oct

ober

1, 2034

330

25

A28683

31297G

UG

46,2

02,0

84

603,9

47

268,8

67

6.5

00

6.0

Nov

ember

1, 2004

Nov

ember

1, 2034

333

23

A30748

31297K

ZM

77,5

66,9

51

300,0

00

145,4

94

6.2

93

6.0

Januar

y 1, 2005

Januar

y 1, 2035

335

22

A42269

3128K

2Q

W2

9,6

86,7

09

8,3

55,1

04

7,9

82,7

66

6.4

47

6.0

Januar

y 1, 2006

Januar

y 1, 2036

350

9A

42272

3128K

2Q

Z5

1,1

70,0

40

170,0

40

168,7

09

6.8

75

6.0

Januar

y 1, 2006

Januar

y 1, 2036

351

9A

43038

3128K

3LT2

26,1

80,4

90

88,2

27

82,4

85

6.3

16

6.0

Feb

ruar

y 1, 2006

Feb

ruar

y 1, 2036

350

8A

43040

3128K

3LV

75,0

55,1

05

590,6

76

547,6

69

6.5

00

6.0

Feb

ruar

y 1, 2006

Feb

ruar

y 1, 2036

352

8A

44407

3128K

43Q

6169,5

40,8

51

452,5

75

430,8

57

6.3

30

6.0

April 1, 2006

April 1, 2036

351

7A

44662

3128K

5FB3

50,0

10,9

99

1,1

37,2

53

1,0

99,2

63

6.4

25

6.0

April 1, 2006

April 1, 2036

353

6A

44954

3128K

5Q

F2

79,5

33,0

19

1,1

45

1,1

29

6.3

43

6.0

April 1, 2006

April 1, 2036

352

6A

48547

3128K

9P81

6,1

14,9

99

4,0

00,4

00

3,8

99,5

22

6.5

16

6.0

May

1, 2006

May

1, 2036

354

5A

48618

3128K

9SF2

9,5

31,4

78

1,0

31,4

78

1,0

00,5

55

6.3

32

6.0

May

1, 2006

May

1, 2036

354

5A

48639

3128K

9S47

73,8

25,0

99

584,2

85

570,8

15

6.3

36

6.0

May

1, 2006

May

1, 2036

353

6A

48829

3128K

9Y

24

4,5

53,8

90

1,9

28,3

21

1,8

15,8

80

6.6

16

6.0

May

1, 2006

May

1, 2036

353

5A

48843

3128K

9Z

G2

23,9

17,6

02

7,1

92,6

68

7,1

40,0

18

6.9

15

6.0

May

1, 2006

May

1, 2036

352

6A

48888

3128K

92V

54,0

90,8

60

1,7

67,9

59

1,6

75,1

48

6.3

65

6.0

May

1, 2006

May

1, 2036

355

5A

48912

3128K

93V

427,8

21,2

86

45,7

94

45,1

65

6.3

85

6.0

May

1, 2006

May

1, 2036

354

5A

48919

3128K

94C

51,8

57,3

06

1,8

57,3

06

1,6

95,4

59

7.1

40

6.0

May

1, 2006

April 1, 2036

348

6A

49118

3128K

AD

X6

4,1

44,1

95

1,5

62,3

50

1,5

54,8

61

6.5

42

6.0

May

1, 2006

May

1, 2036

354

5A

49140

3128K

AEM

923,4

95,7

57

10,8

71,1

08

10,6

82,2

77

6.3

80

6.0

May

1, 2006

May

1, 2036

353

5A

49175

3128K

AFQ

91,6

70,8

40

1,5

70,8

40

1,5

63,6

01

6.4

56

6.0

May

1, 2006

May

1, 2036

355

5A

49184

3128K

AFZ

91,6

76,5

84

1,6

76,5

84

1,6

69,1

04

6.6

25

6.0

May

1, 2006

May

1, 2036

355

5A

49245

3128K

AH

W4

47,3

55,9

74

25,1

34,8

31

24,0

55,7

12

6.3

74

6.0

May

1, 2006

May

1, 2036

350

5A

49257

3128K

AJA

02,4

38,7

28

1,5

40,4

08

1,5

32,4

45

6.6

25

6.0

May

1, 2006

May

1, 2036

354

5A

49258

3128K

AJB

82,7

37,3

16

2,7

37,3

16

2,7

20,2

06

6.7

50

6.0

May

1, 2006

May

1, 2036

345

5A

49323

3128K

ALC

365,8

17,8

82

167,2

93

162,7

21

6.4

52

6.0

May

1, 2006

June

1, 2036

352

5A

49384

3128K

AM

99

236,2

99,0

95

1,0

00,0

00

979,7

07

6.3

57

6.0

June

1, 2006

June

1, 2036

354

5A

49397

3128K

AN

N7

8,4

65,1

92

4,6

14,6

73

4,5

50,4

44

6.6

77

6.0

June

1, 2006

June

1, 2036

353

4A

49399

3128K

AN

Q0

2,4

45,1

40

2,4

45,1

40

2,4

28,3

48

6.3

75

6.0

May

1, 2006

June

1, 2036

353

4A

49448

3128K

AP96

31,1

10,2

89

30,6

10,2

89

30,1

96,1

76

6.3

93

6.0

June

1, 2006

June

1, 2036

355

4A

49465

3128K

AQ

S3

7,0

00,4

67

2,0

00,9

67

1,9

92,3

72

6.4

86

6.0

June

1, 2006

June

1, 2036

353

5A

49483

3128K

AR

C7

38,2

59,5

12

6,9

87,0

81

6,8

27,3

89

6.3

96

6.0

June

1, 2006

June

1, 2036

354

4A

49491

3128K

AR

L7

10,0

30,6

37

2,0

27,5

38

2,0

19,5

46

6.3

45

6.0

June

1, 2006

June

1, 2036

356

4A

49542

3128K

AS77

75,8

27,5

15

50,0

00,0

00

48,5

07,8

87

6.3

54

6.0

June

1, 2006

June

1, 2036

354

5A

49547

3128K

ATC

555,2

79,1

24

6,5

00,0

00

6,3

46,1

94

6.5

36

6.0

June

1, 2006

June

1, 2036

354

4A

49549

3128K

ATE1

71,5

42,0

46

62,1

42,0

46

60,9

74,3

48

6.4

13

6.0

June

1, 2006

June

1, 2036

355

4A

49583

3128K

AU

G4

10,7

79,7

66

999,9

00

968,6

87

6.4

39

6.0

June

1, 2006

June

1, 2036

351

4A

49684

3128K

AX

M8

29,5

35,8

11

29,5

35,8

11

29,4

14,6

98

6.6

79

6.0

June

1, 2006

June

1, 2036

354

5A

49685

3128K

AX

N6

8,7

62,1

41

2,2

27,1

54

2,2

18,9

45

6.8

75

6.0

June

1, 2006

June

1, 2036

353

5A

49700

3128K

AX

55

23,5

14,5

51

23,5

14,5

51

23,0

63,6

83

6.6

08

6.0

June

1, 2006

June

1, 2036

355

4A

49711

3128K

AY

G0

2,0

70,5

89

2,0

70,5

89

2,0

62,2

85

6.6

59

6.0

June

1, 2006

June

1, 2036

355

5A

49773

3128K

A2E0

482,0

67,1

95

79,7

93

78,6

11

6.2

50

6.0

June

1, 2006

June

1, 2036

354

5A

49774

3128K

A2F7

60,3

15,6

11

50,0

00,0

00

48,6

39,8

09

6.3

75

6.0

June

1, 2006

June

1, 2036

354

5

(1)

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rmat

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I-2

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ALA

A49804

3128K

A3M

1$

71,6

52,5

35

$40,4

00,0

57

$39,1

94,4

35

6.3

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6.0

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1, 2006

June

1, 2036

354

4A

49813

3128K

A3W

920,7

53,1

35

16,7

53,1

35

16,6

84,1

54

6.5

04

6.0

June

1, 2006

June

1, 2036

355

5A

49880

3128K

A6R

7175,6

39,5

92

44,0

35,4

20

43,4

90,7

28

6.5

51

6.0

June

1, 2006

June

1, 2036

354

4A

49998

3128K

BD

B2

3,7

44,6

43

3,7

44,6

43

3,6

55,1

09

6.5

00

6.0

June

1, 2006

June

1, 2036

347

4A

50049

3128K

CBS5

32,1

74,8

93

25,3

85,0

74

24,9

33,2

89

6.5

00

6.0

June

1, 2006

June

1, 2036

354

4A

50071

3128K

CC

G0

153,9

31,6

34

98,6

86,7

10

97,2

01,8

04

6.3

72

6.0

June

1, 2006

June

1, 2036

352

5A

50083

3128K

CC

U9

5,4

39,7

19

5,3

54,7

19

5,3

34,5

77

6.6

25

6.0

June

1, 2006

June

1, 2036

355

4A

50133

3128K

CEE3

3,3

31,2

46

2,0

00,0

00

1,9

86,6

23

6.4

99

6.0

June

1, 2006

June

1, 2036

353

4A

50149

3128K

CEW

34,1

81,2

92

2,1

81,2

92

2,1

71,8

49

6.3

90

6.0

June

1, 2006

June

1, 2036

355

4A

50153

3128K

CE29

9,8

73,3

43

238,9

30

237,7

44

6.4

22

6.0

June

1, 2006

June

1, 2036

353

4A

50166

3128K

CFF9

18,9

52,4

75

447,9

35

439,1

47

6.5

00

6.0

June

1, 2006

June

1, 2036

348

4A

50167

3128K

CFG

720,6

25,1

22

17,0

19,6

61

16,9

49,1

07

6.9

27

6.0

June

1, 2006

June

1, 2036

354

5A

50187

3128K

CF44

48,8

21,4

88

43,9

52,8

27

43,4

51,2

23

6.4

10

6.0

June

1, 2006

June

1, 2036

355

4A

50191

3128K

CF85

1,0

00,0

00

203,5

71

202,6

54

6.4

73

6.0

June

1, 2006

July

1, 2036

331

4A

50222

3128K

CG

76

25,5

87,6

99

689,6

02

676,2

22

6.5

18

6.0

June

1, 2006

July

1, 2036

355

4A

50228

3128K

CH

D2

9,6

25,0

70

30,1

02

29,9

88

6.5

00

6.0

June

1, 2006

June

1, 2036

355

4A

50247

3128K

CH

Y6

2,0

00,2

00

2,0

00,2

00

1,9

93,5

30

6.5

33

6.0

June

1, 2006

July

1, 2036

356

3A

50248

3128K

CH

Z3

1,1

00,9

85

1,1

00,9

85

1,0

97,6

64

6.5

09

6.0

July

1, 2006

July

1, 2036

356

4A

50250

3128K

CH

34

2,0

00,2

00

1,0

01,7

80

975,3

04

6.3

11

6.0

June

1, 2006

July

1, 2036

340

4A

50251

3128K

CH

42

2,4

00,2

00

1,5

16,2

91

1,5

10,9

41

6.5

89

6.0

June

1, 2006

July

1, 2036

356

4A

50253

3128K

CH

67

22,9

12,8

95

9,0

05,9

04

8,9

19,0

81

6.5

15

6.0

June

1, 2006

July

1, 2036

356

4A

50263

3128K

CJG

311,1

53,0

52

2,5

00,0

00

2,4

91,4

85

6.6

36

6.0

July

1, 2006

July

1, 2036

355

3A

50270

3128K

CJP

327,5

48,6

45

26,3

13,6

45

26,1

37,8

50

6.5

52

6.0

June

1, 2006

July

1, 2036

354

4A

50286

3128K

CJ7

33,3

58,1

36

132,9

42

127,6

43

6.7

50

6.0

June

1, 2006

July

1, 2036

354

3A

50386

3128K

CN

B9

36,2

39,2

08

24,8

29,4

17

24,2

60,0

96

6.3

75

6.0

July

1, 2006

July

1, 2036

354

4A

50389

3128K

CN

E3

44,2

59,8

44

324,5

59

319,6

17

6.4

98

6.0

July

1, 2006

July

1, 2036

355

4A

50430

3128K

CPP6

50,0

73,1

02

13,1

34,0

34

13,0

79,7

13

6.2

50

6.0

July

1, 2006

July

1, 2036

355

4A

50488

3128K

CR

H2

13,0

20,8

24

6,4

64,9

81

6,2

98,1

40

6.2

50

6.0

July

1, 2006

July

1, 2036

353

5A

50520

3128K

CSH

145,6

42,9

31

81,3

55

79,4

14

6.3

75

6.0

July

1, 2006

July

1, 2036

353

4A

50551

3128K

CTG

2139,1

82,4

97

69,0

93,4

15

67,7

98,9

22

6.4

33

6.0

July

1, 2006

July

1, 2036

356

4A

50560

3128K

CTR

815,1

56,5

23

15,1

56,5

23

14,5

62,9

65

6.5

00

6.0

July

1, 2006

July

1, 2036

355

4A

50564

3128K

CTV

932,6

98,9

96

32,6

98,9

96

32,5

86,7

61

6.2

50

6.0

July

1, 2006

July

1, 2036

355

4A

50579

3128K

CU

C9

60,1

34,7

23

188,2

60

186,2

82

6.4

71

6.0

July

1, 2006

July

1, 2036

356

3A

50586

3128K

CU

K1

3,0

10,6

66

3,0

10,6

66

3,0

00,3

22

6.6

47

6.0

July

1, 2006

July

1, 2036

332

4A

50588

3128K

CU

M7

5,1

76,2

50

2,3

30,6

56

2,2

60,6

92

6.4

90

6.0

July

1, 2006

June

1, 2036

356

4A

50618

3128K

CV

K0

178,5

22,8

76

7,8

00,0

00

7,7

30,0

36

6.5

61

6.0

July

1, 2006

July

1, 2036

355

4A

50642

3128K

CW

B9

15,4

17,9

98

14,9

98,5

00

14,9

50,9

41

6.2

50

6.0

July

1, 2006

July

1, 2036

356

4A

50643

3128K

CW

C7

16,5

76,3

40

14,5

42,5

90

14,4

39,6

69

6.3

75

6.0

July

1, 2006

July

1, 2036

354

4A

50651

3128K

CW

L7

256,8

45,0

02

3,8

40,3

62

3,8

18,8

94

6.2

50

6.0

July

1, 2006

July

1, 2036

355

4A

50679

3128K

CX

G7

2,1

27,6

00

515,9

65

513,7

73

6.4

12

6.0

July

1, 2006

July

1, 2036

338

3A

50683

3128K

CX

L6

2,1

37,4

84

246,9

10

246,0

75

6.3

36

6.0

July

1, 2006

July

1, 2036

356

3A

50739

3128K

CZ

C4

163,3

93,9

74

80,0

64,8

49

79,1

42,7

61

6.5

54

6.0

July

1, 2006

July

1, 2036

355

4A

50782

3128K

C2P1

11,6

00,4

01

11,6

00,4

01

11,4

30,2

84

6.5

67

6.0

July

1, 2006

July

1, 2036

356

3A

50786

3128K

C2T3

1,0

53,6

00

1,0

00,0

00

997,3

21

6.5

92

6.0

July

1, 2006

July

1, 2036

357

3A

50791

3128K

C2Y

236,7

29,2

99

185,1

46

182,4

26

6.5

19

6.0

July

1, 2006

July

1, 2036

354

3A

50800

3128K

C3H

81,6

03,4

72

1,6

03,4

72

1,5

98,9

77

6.6

68

6.0

July

1, 2006

June

1, 2036

355

5A

50801

3128K

C3J4

19,9

16,3

78

10,3

32,5

39

10,1

48,0

60

6.9

05

6.0

July

1, 2006

July

1, 2036

355

4A

50813

3128K

C3W

52,0

26,7

75

1,9

38,7

15

1,9

33,3

17

6.6

25

6.0

July

1, 2006

July

1, 2036

356

3A

50815

3128K

C3Y

15,2

88,6

68

288,6

68

287,9

14

6.7

50

6.0

July

1, 2006

July

1, 2036

357

3A

50833

3128K

C4S3

30,2

18,6

07

15,0

00,0

00

14,8

34,9

53

6.6

25

6.0

July

1, 2006

July

1, 2036

355

3A

50837

3128K

C4W

460,9

34,7

25

1,4

00,0

00

1,3

85,2

66

6.4

59

6.0

July

1, 2006

July

1, 2036

355

3A

50841

3128K

C5A

11,0

26,5

10

1,0

26,5

10

1,0

23,4

76

7.3

55

6.0

July

1, 2006

July

1, 2036

356

4A

50852

3128K

C5M

56,2

82,6

54

6,2

82,6

54

6,2

62,8

22

6.4

61

6.0

July

1, 2006

July

1, 2036

355

4A

50856

3128K

C5R

46,3

77,0

30

6,3

77,0

30

6,2

45,7

27

6.4

52

6.0

July

1, 2006

July

1, 2036

356

4

I-3

PC

Pool

Origi

nal

PC

UPB

Fin

alN

um

ber

PC

CU

SIP

(W

hole

Pool)

Origi

nal

PC

UPB

Curr

ent PC

UPB

WAC

PC

Coupon

Issu

e D

ate

Pay

men

t D

ate

WAR

MW

ALA

A50905

3128K

DA

E5

$20,0

21,7

38

$19,9

98,0

00

$19,7

68,4

83

6.6

21%

6.0

%Ju

ly 1

, 2006

July

1, 2036

357

3A

50936

3128K

DBD

649,0

04,1

19

101,7

31

101,2

30

6.5

00

6.0

July

1, 2006

July

1, 2036

355

3A

50976

3128K

DC

M5

4,9

39,4

97

1,8

06,8

50

1,7

56,3

64

6.5

60

6.0

July

1, 2006

Augu

st 1

, 2036

356

3A

50986

3128K

DC

X1

1,9

48,3

79

1,9

48,3

79

1,9

43,0

21

6.7

78

6.0

July

1, 2006

July

1, 2036

355

4A

51001

3128K

DD

E2

26,3

93,0

73

12,3

93,0

73

12,2

96,7

87

6.6

25

6.0

July

1, 2006

July

1, 2036

355

3A

51008

3128K

DD

M4

2,0

00,1

28

2,0

00,1

28

1,9

93,8

62

6.5

00

6.0

July

1, 2006

July

1, 2036

356

4A

51024

3128K

DD

51

2,9

10,5

48

2,9

10,5

48

2,9

01,0

03

6.6

12

6.0

July

1, 2006

July

1, 2036

355

4A

51031

3128K

DEC

53,1

95,3

71

3,1

95,3

71

3,1

84,4

94

6.5

88

6.0

July

1, 2006

July

1, 2036

355

4A

51139

3128K

DH

Q1

3,8

00,0

63

3,8

00,0

63

3,7

87,3

38

6.5

06

6.0

July

1, 2006

July

1, 2036

355

4A

51175

3128K

DJU

010,0

30,7

91

2,0

30,7

91

2,0

26,7

81

6.4

25

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

3A

51181

3128K

DJ2

2187,9

81,9

46

373,9

22

371,9

70

6.5

67

6.0

July

1, 2006

Augu

st 1

, 2036

357

3A

51247

3128K

DL45

17,2

44,0

78

17,2

44,0

78

17,2

01,0

22

6.5

95

6.0

July

1, 2006

Augu

st 1

, 2036

357

3A

51254

3128K

DM

B8

27,1

93,5

17

27,1

93,5

17

27,1

35,9

05

6.4

89

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

3A

51278

3128K

DM

36

29,1

97,8

57

29,1

97,8

57

29,0

15,8

28

6.6

37

6.0

July

1, 2006

Augu

st 1

, 2036

357

3A

51293

3128K

DN

J07,1

10,1

60

7,1

10,1

60

7,0

96,8

74

6.4

77

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

3A

51341

3128K

DP25

201,0

74,3

17

916,7

28

911,0

66

6.5

59

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

3A

51345

3128K

DP66

14,3

95,1

84

1,3

13,7

69

1,3

11,2

78

6.5

00

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

3A

51367

3128K

DQ

U2

19,6

02,5

45

19,6

02,5

45

19,3

92,4

46

6.4

54

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

3A

51368

3128K

DQ

V0

25,2

05,7

47

25,2

05,7

47

24,9

14,4

39

6.5

00

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

356

3A

51410

3128K

DR

72

50,2

26,0

84

5,0

00,0

00

4,9

87,0

38

6.4

42

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

3A

51414

3128K

DSB2

21,1

98,9

15

21,1

98,9

15

21,0

65,3

43

6.5

22

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

356

3A

51437

3128K

DS22

9,1

26,8

40

9,1

26,8

40

9,1

07,9

94

6.5

10

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

358

2A

51458

3128K

DTP0

12,4

51,5

63

12,4

51,5

63

12,4

26,6

19

6.7

03

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

356

3A

51470

3128K

DT39

17,5

54,9

79

17,5

54,9

79

17,5

10,1

42

6.5

29

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

356

3A

51568

3128K

DW

50

17,7

67,0

74

17,7

67,0

74

17,7

29,7

88

6.2

50

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

3A

51693

3128K

D3A

122,6

52,4

93

22,6

52,4

93

22,4

60,9

94

6.2

50

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

356

3A

51701

3128K

D3J2

22,7

62,2

75

22,7

62,2

75

22,7

13,4

49

6.2

50

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

356

3A

51767

3128K

D6C

48,0

92,8

61

8,0

92,8

61

8,0

77,0

77

6.5

46

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

358

2A

51768

3128K

D6D

29,1

45,7

47

9,1

45,7

47

9,1

24,1

06

6.5

43

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

356

2A

51823

3128K

EA

Y9

7,9

26,4

30

7,9

26,4

30

7,9

10,7

64

6.5

48

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

357

2A

51847

3128K

EBQ

52,0

91,7

32

2,0

91,7

32

2,0

87,9

43

6.5

18

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

358

2A

51902

3128K

ED

F7

3,4

74,9

58

3,4

74,9

58

3,4

67,4

01

6.2

50

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

354

4A

52134

3128K

ELP6

3,7

23,3

77

3,7

23,3

77

3,7

20,0

19

6.5

45

6.0

Sep

tem

ber

1, 2006

Sep

tem

ber

1, 2036

358

2A

52399

3128K

EU

Y7

8,1

51,0

16

8,1

51,0

16

8,1

42,9

99

6.2

50

6.0

Sep

tem

ber

1, 2006

Sep

tem

ber

1, 2036

358

2A

52619

3128K

E4C

43,9

37,1

09

3,9

37,1

09

3,9

33,5

16

6.4

70

6.0

Sep

tem

ber

1, 2006

Sep

tem

ber

1, 2036

358

1A

52754

3128K

FBX

78,7

30,0

28

8,7

30,0

28

8,7

22,1

15

6.5

34

6.0

Sep

tem

ber

1, 2006

Augu

st 1

, 2036

358

2A

54607

3128K

HD

L7

55,5

53,0

78

690,1

90

653,4

54

6.7

55

6.0

May

1, 2006

April 1, 2036

351

7A

54614

3128K

HD

T0

4,7

41,5

37

47,8

32

47,6

55

6.6

24

6.0

June

1, 2006

May

1, 2036

352

8A

54616

3128K

HD

V5

2,7

17,3

82

2,7

17,3

82

2,7

07,5

14

6.6

71

6.0

June

1, 2006

June

1, 2036

355

4A

54736

3128K

HH

M1

2,0

80,2

26

2,0

80,2

26

2,0

75,9

43

6.4

31

6.0

Augu

st 1

, 2006

July

1, 2036

346

5C

01258

31292H

MF8

2,7

51,3

50,9

52

1,5

50,0

00

174,5

34

6.5

75

6.0

Nov

ember

1, 2001

Nov

ember

1, 2031

289

59

C01286

31292H

NB6

3,1

16,7

08,1

21

500,0

00

85,6

12

6.4

71

6.0

Januar

y 1, 2002

Januar

y 1, 2032

290

58

C01491

31292H

UQ

51,0

03,5

77,9

55

80,0

00

26,4

62

6.3

44

6.0

Feb

ruar

y 1, 2003

Feb

ruar

y 1, 2033

306

45

C25276

31293N

2H

26,1

81,3

04

401,2

87

54,9

66

6.5

00

6.0

April 1, 1999

April 1, 2029

254

91

C71805

31288A

AE5

282,0

79,2

09

106,0

00

18,7

21

6.3

75

6.0

Oct

ober

1, 2002

Oct

ober

1, 2032

300

48

G00922

31283H

AX

31,5

00,0

00,0

00

150,0

00

10,5

56

6.7

26

6.0

May

1, 1998

April 1, 2028

235

103

G08112

3128M

JDS6

1,1

87,3

93,2

23

250,0

00

235,5

06

6.4

02

6.0

Feb

ruar

y 1, 2006

Feb

ruar

y 1, 2036

348

9G

08129

3128M

JEB2

1,1

66,4

77,2

59

4,8

27,8

88

4,6

95,9

28

6.4

46

6.0

May

1, 2006

May

1, 2036

352

5G

08146

3128M

JEU

01,1

81,6

24,2

56

2,4

67,4

65

2,4

47,5

57

6.6

09

6.0

Augu

st 1

, 2006

Augu

st 1

, 2036

356

2

$1,4

00,0

00,0

00(2)

6.4

70(3)

355(3)

4(3)

(2)

Tot

al m

ay n

ot e

qual

sum

of co

lum

n d

ue

to r

oundin

g.(3)

Wei

ghte

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bal

ance

.

Schedule II

GLOSSARY OF TERMS USED IN THE PC SCHEDULE

Capitalized terms used but not deÑned in this Glossary are deÑned in our Mortgage

Participation CertiÑcates OÅering Circular, dated October 14, 2005, or in any related pool

supplements (together, the ""PC OÅering Circular'').

PC Pool Number Ì Unique six-character designation assigned to identify each Freddie Mac

PC Pool. The Ñrst two or three characters are known as the ""PreÑx.'' Freddie Mac's Internet Web-

Site (www.freddiemac.com) provides a current list of PreÑxes and their description.

PC CUSIP Ì Unique nine-character designation assigned to each PC Pool and used to

identify PC pool on book-entry records of Federal Reserve Bank.

Original PC UPB (Whole Pool) Ì Original Unpaid Principal Balance (OUPB) of entire PC

Pool of which the PCs included in REMIC Pool are a part. The OUPB of a PC Pool is determined

as of a certain date.

Original PC UPB Ì OUPB of the PCs included in REMIC Pool.

Current PC UPB Ì Unpaid Principal Balance (UPB) of the PCs included in REMIC Pool,

as of the beginning of the month of formation of the REMIC Pool.

WAC Ì Most recently disclosed weighted average of the coupons of mortgages contained in

each PC Pool included in REMIC Pool, as of the settlement date of REMIC Pool.

PC Coupon Ì Annual rate of interest at which interest is passed through to holder of a PC.

Issue Date Ì Corresponds to Ñrst day of the month of formation of the PC Pool.

Final Payment Date Ì Corresponds to Ñrst day of the month in which the Final Payment Date

for PC Pool occurs.

WARM Ì Most recently disclosed, calendar-adjusted weighted average of the remaining

terms to maturity (in months) of mortgages contained in each PC Pool included in the REMIC

Pool, as of settlement date of REMIC Pool.

WALA Ì Most recently disclosed, calendar-adjusted, weighted average of the number of

months since note origination of the mortgages contained in each PC Pool included in the REMIC

Pool, as of the settlement date of the REMIC Pool.

II-1

If you intend to purchase the OÅered CertiÑcates,you should rely only on the information in thisSupplement, the OÅering Circular Supplement

$1,400,000,000and the OÅering Circular, including the informa-tion in the disclosure documents that we haveincorporated by reference. We have not authorizedanyone to provide you with diÅerent information. Freddie MacThis Supplement, the OÅering Circular Supple-ment, the OÅering Circular and the incorporateddocuments may not be correct after their dates. Reference REMICSM

We are not oÅering the OÅered CertiÑcates in any Series R009jurisdiction that prohibits their oÅer.

TABLE OF CONTENTS

Description Page

OÅering Circular Supplement

Certain Risk Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-2Terms Sheet ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-3Available InformationÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-6General Information ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-6

The Agreement ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-6Form of CertiÑcates ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-6Structure of Transaction ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-7The Mortgages ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-7

Payments ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-7Payment Dates; Record DatesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-7Method of Payment ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-8Categories of Classes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-8InterestÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-8PrincipalÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-9Class Factors ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-9GuaranteesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-91% Clean-up Call ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-10Residual ProceedsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-10 Lead UnderwritersPrepayment and Yield Analysis ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-10GeneralÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-10Prepayment and Weighted Average Life Considerations ÏÏÏÏÏÏÏÏÏ S-11Declining Balances TableÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-12Yield Tables ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-14 CitigroupFinal Payment Dates ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15

Certain Federal Income Tax ConsequencesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15GeneralÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15 Credit SuisseRegular ClassesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15Residual Classes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-15Taxation of the Call Class ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-17 Goldman, Sachs & Co.MACR Classes ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-17

Legal Investment Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-18ERISA ConsiderationsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-18Plan of Distribution ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-18Legal Matters ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ S-18Appendix A Ì Available CombinationsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ A-1Schedule I Ì PC Schedule ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ I-1 Co-UnderwritersSchedule II Ì Glossary of Terms Used in the PC Schedule ÏÏÏÏÏÏÏÏÏ II-1

OÅering CircularFreddie Mac ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3 Barclays CapitalAdditional InformationÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 3Summary ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 4Risk FactorsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 7 Bear, Stearns & Co. Inc.Description of CertiÑcates ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 9MACR CertiÑcatesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 20 Merrill Lynch & Co.Prepayment, Yield and Suitability Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 21The Agreement ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 27Certain Federal Income Tax ConsequencesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 30ERISA ConsiderationsÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 45Legal Investment Considerations ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 45Plan of Distribution ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 46Increase in SizeÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 46Appendix I Ì Index of Terms ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ I-1 October 10, 2006Appendix II Ì Standard DeÑnitions and Abbreviations for ClassesÏÏÏÏ II-1Appendix III Ì MACR CertiÑcate Exchanges ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ III-1Appendix IV Ì Retail Class Principal Payments ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ IV-1Appendix V Ì Interest Rate Indices ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ V-1Appendix VI Ì Guaranteed Maturity and Call Classes; Redemption

and Exchange Procedures ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ VI-1