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Freddie Mac
(redirected from FHLMC)

   Also found in: Dictionary/thesaurus, Financial, Acronyms, Wikipedia 0.01 sec.
Freddie Mac: see Federal Home Loan Mortgage Corporation Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, privately owned, government-sponsored organization that uses private capital to buy home mortgages as a means to help lower housing costs.
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For almost one-half of a century, housing bond markets created from local municipalities, GNMA, FNMA and FHLMC (joined by the FHLB) have provided possibly the greatest infrastructure for the stability of our economy longer than any business in history by catering to the notion that home ownership is one of the most important goals that people strive for.
Although the bonds were sold to retail and institutional investors, about 75 percent of the bonds were purchased by Fannie Mae and FHLMC.
According to the court documents filed by the Division of Housing and Community Renewal (DHCR), the sponsor stopped paying the maintenance, the co-op defaulted on its mortgage payments to FHLMC and in 1991 the Federal agency foreclosed on the property.
 
 
 
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