Branch Banking and Trust Company, Bay Family Housing and Freddie Mac Bring Get the Facts! Homeownership Workshops to Virginia’s Northern Neck.

Northern Neck, VA, October 15, 2007 – Branch Banking and Trust Company (BB&T), Bay Family Housing (Division of Bay Aging), and Freddie Mac (NYSE:FRE) are pleased to announce that they are working together to offer informative workshops that demystify the homeownership process for families in the Virginia’s Northern Neck and Middle Peninsula.

Freddie Mac’s Get the Facts! and CreditSmart workshops are designed to break down barriers of misinformation that keep many individuals from considering homeownership. The workshops are currently being offered by Bay Family Housing in various towns in Virginia’s Northern Neck and Middle Peninsula.

Through the Get the Facts! workshops, participants are provided with straightforward information and advice about all aspects of homeownership, including costs associated with homebuying and credit history requirements. For example, a 20 percent down payment and perfect credit are no longer the industry standards for getting a mortgage.

CreditSmart®, Freddie Mac’s credit education curriculum, has been designed to help potential homebuyers obtain the knowledge and skills necessary to manage their finances and positively impact their credit.

Bay Family Housing, in collaboration with BB&T, will also implement Loan Prospector Outreach. Loan Prospector Outreach is a first-of-its-kind tool to help housing counselors assess the readiness of their clients to apply for a mortgage and help lenders get more qualified mortgage leads.

The housing counselor inputs the client’s data into Loan Prospector Outreach, reviews the client’s credit history, and considers the various financing and mortgage options. Loan Prospector Outreach conducts a client assessment in just minutes, returning either a “Ready to Apply” or “Continue Counseling” indication. When the client is ready to apply, Loan Prospector Outreach, with the client’s consent, provides the housing counselor with an automated way to transmit the client’s information to a participating lender. At that time, the lender is able to easily access the client’s data through LoanProspector.com in order to make a lending decision.

“We are excited to be able to offer these tools to homebuyers who will benefit from the assistance we can provide in conjunction with Freddie Mac and Bay Family Housing,” said Donna Davis, regional mortgage loan manager of BB&T.

“We are delighted to form this relationship with BB&T and Freddie Mac to bring accurate and timely information to prospective homebuyers,” said Pamela Struss, vice president of Single Family Homes of Bay Family Housing. “Homeownership is most people’s dream; however, there are so many misconceptions that cause people to not even investigate purchasing a home. We are able to offer non-biased and truthful information about the home buying process and be a support system even after they have purchased a home.”

“The strength of this educational campaign is the many public and private organizations working together in the community to address the barriers faced by homebuyers,” said Craig Nickerson, vice president of Freddie Mac. “Freddie Mac is pleased to be working with BB&T and Bay Family Housing to reach qualified people who may be facing obstacles to buying a home.”

Freddie Mac, one of the nation’s largest residential mortgage investors, created the Get the Facts! workshops in response to its research in 2003, which suggested that reliable, accurate information about homebuying might not be reaching minority communities. The research uncovered several common misconceptions about homebuying by African American and Latino consumers. For example, about half of African American and Latino consumers believe that they need almost perfect credit to get a loan. In addition, more than half of these consumers believe that they must have the same job for at least three years to get a loan.

For more information, contact Pam Struss, Bay Family Housing, 804.758.2386.

About Bay Family Housing

Bay Family Housing is a division of Bay Aging, a private, 501(c)(3) corporation founded in 1978. At its inception, Bay Aging’s primary purpose was to improve quality of life for the elderly and disabled of the Northern Neck and Middle Peninsula through a range of locally determined services to support independent community living. Later, Bay Aging expanded its housing activities to address and eliminate substandard housing for the elderly and for other low- to moderate-income persons through a 10-county weatherization program and the rehabilitation or substantial reconstruction of houses by improving or installing well and septic systems, weatherization, and emergency home repair and making them compliant with HUD Section 8 guidelines.

Bay Family Housing also seeks to address the difficulties low- to moderate-income persons have in achieving homeownership through its housing programs. The common obstacles for families in the communities served by Bay Aging are money for down payment and closing cost, and credit, debt and homebuyer education. Essential community personnel (teachers, firefighters, law enforcement and nurses) have similar challenges in the Northern Neck and Middle Peninsula area.

About Branch Banking and Trust Company

Branch Banking and Trust Company is a wholly owned subsidiary of Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT). The corporation and its subsidiaries offer full-service commercial and retail banking and additional financial services such as insurance, investments, retail brokerage, mortgage, corporate finance, consumer finance, payment services, international banking, leasing and trust. It operates more than 1,500 financial centers in the Carolinas, Virginia, Maryland, West Virginia, Tennessee, Kentucky, Georgia, Florida, Alabama, Indiana and Washington, D.C. With $127.6 billion in assets, BB&T Corporation is the nation’s 11th largest financial holding company. More information about the company is available at www.BBT.com.

About Freddie Mac

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.