MCLEAN, Va., Nov. 10 /PRNewswire-FirstCall/ -- The Boards of Directors of Home Ownership Funding Corporation and Home Ownership Funding Corporation II each declared today that each corporation expresses no position and remains neutral towards the tender offer commenced by Freddie Mac on November 10, 2005, for the outstanding shares of preferred stock of each corporation. The reason given for the neutrality position is the existence of a potential conflict of interest for the Board members, who are all Freddie Mac officers. The corporations were established in 1997 with the principal business objective of acquiring and holding Freddie Mac PCs so as to qualify as real estate investment trusts under the Internal Revenue Code and to generate net income for distribution to stockholders. Freddie Mac owns approximately 99.99% of the outstanding shares of common stock of each corporation. II DATASOURCE: Home Ownership Funding Corporation; Home Ownership Funding Corporation CONTACT: Michael Cosgrove, +1-703-903-2123, for Home Ownership Funding Corporation and Home Ownership Funding Corporation II

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