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

See Freddie Mac.

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

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However, when Donald H Layton resigned from the board to take over as CEO of Federal Home Loan Mortgage Corporation (Freddie Mac) in May 2012 and Laurette T Koellner resigned to assume the role of AIG's executive chairman of International Lease Finance Corporation in June 2012, the board decided to ask Offit to rejoin in the best interests of the company and its shareholders.

AIG's board elects Morris W Offit as director

Freddie Mac is the nickname for the Federal Home Loan Mortgage Corporation that purchases residential mortgages, securitizes them, and sells them to investors to provide lenders with funds for new homebuyers.

Northfield goes above and beyond

3 -- FHLMC (Federal Home Loan Mortgage Corporation)

Legal Developments

For a number of years the management of Freddie Mac (the Federal Home Loan Mortgage Corporation) has used mark-to-market (MTM) information to assess corporate performance in its operations and decision making.

Mark-to-market: Freddie Mac's fourth financial statement

The bonds are special obligations of the authority secured solely by the revenues and assets pledged under the amended and restated master indenture that primarily consist of mortgage backed securities (MBS) guaranteed by the Government National Mortgage Association (GNMA or Ginnie Mae), mortgage pass-through certificates guaranteed by the Federal National Mortgage Association (FNMA or Fannie Mae) and MBS guaranteed by the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) and cash reserves.

Fitch Rates Indiana Housing & Community Development Auth Single Family Mtg Rev Bonds 2017C 'AAA'

First Michigan Bank, the subsidiary of Troy, Michigan-based First Michigan Bancorp Inc, has said that it has regained the approval of The Federal Home Loan Mortgage Corporation (Freddie Mac) to sell and service mortgages in the Port Huron community and throughout Michigan.

First Michigan Bank receives approval to sell and service mortgages

The Federal Home Loan Mortgage Corporation made a mortgage loan to a limited partnership which owned a building in Brooklyn.

Usury-avoidance provision in a mortgage is useless

Depository institutions generally had higher portfolio and market shares than the two for-profit government-sponsored enterprises that are active in the secondary market, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

Distribution of credit risk among providers of mortgages to lower-income and minority homebuyers

31, 2015, the single-family portfolio consisted of 84% Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac) mortgage-backed securities (MBS).

Fitch Affirms Florida HFC's Homeowner Mtge Rev Bonds at 'AA+'; Maintains Positive Outlook

Federal Home Loan Mortgage Corporation (Freddie Mac) has reported a net loss of USD23.9bn, or USD7.37 per diluted share, for the fourth quarter ended December 31, 2008, compared to a net loss of USD25.3bn, or USD19.44 per diluted share for the third quarter ended September 30, 2008.