Federal Home Loan Mortgage Corporation


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Related to Federal Home Loan Mortgage Corporation: Freddie Mac

Federal Home Loan Mortgage Corporation (FHLMC)

Freddie Mac

Federal Home Loan Mortgage Corporation (FHLMC). A publicly-traded company chartered by the U.S. Congress to guarantee mortgages granted to low- or middle-income households. In order to do this, it buys mortgages and repackages them, selling them as mortgage-backed securities. It also maintains its own portfolio of mortgage-backed securities. It was established in 1970 to provide competition for Fannie Mae, which provides the same services and also had an implicit guarantee of federal backing. With the collapse of the housing bubble, Freddie Mac was placed in federal receivership in 2008 as a result of overexposure to this market. See also: Community Reinvestment Act, Credit Crunch.

Federal Home Loan Mortgage Corporation

Federal Home Loan Mortgage Corporation

A stockholder-owned corporation chartered by Congress in 1970 to assist home mortgage lenders with a steady flow of money.Called Freddie Mac (www.freddiemac.com) for short,it buys home mortgages from loan originators such as local financial institutions and then sells mortgage backed securities and debt securities. In order to realize one of its goals, to stabilize the mortgage industry, Freddie Mac has transformed the industry by standardizing mortgage documents, introducing automated underwriting, creating the market for conventional mortgage backed securities, and leading the fight against unfair and predatory lending practices. Its primary competitor is Fannie Mae; both are regulated by the Office of Federal Housing Enterprise Oversight in HUD.

References in periodicals archive ?
government, or by the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC), which are government-sponsored agencies.
0 million to continue the authority's single-family homebuyer program through the purchase of Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae) guaranteed mortgage-backed certificates and Federal Home Loan Mortgage Corporation PCs (Freddie Mac).
Martin engineered the legislation that created the framework and aided in the implementation of the Federal Home Loan Mortgage Corporation ("Freddie Mac").
Soon, the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC), both government-sponsored agencies, also developed mortgage-backed securities.
It was reported this week by the Federal Home Loan Mortgage Corporation that thirty year, fixed-rate mortgages were the lowest since March 3, 1994.
has been approved by the Federal Home Loan Mortgage Corporation (Freddie Mac) as a rating agency for rating private mortgage insurance companies.
28 /PRNewswire/ -- Fitch Investors Service has been approved by the Federal Home Loan Mortgage Corporation (Freddie Mac) as a rating agency for mortgage insurance companies.
Class A certificates of Group 1 has additional enhancement provided by a Federal Home Loan Mortgage Corporation guarantee.
Fannie Mae and the Federal Home Loan Mortgage Corporation (Freddie Mac) are central figures in the mortgage industry in that they buy home loans from lenders and package them into securities for sale in the secondary mortgage markets.

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