Federal Home Loan Mortgage Corporation


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Related to Federal Home Loan Mortgage Corporation: Freddie Mac

Federal Home Loan Mortgage Corporation,

commonly known as

Freddie Mac,

government-sponsored enterprise that uses private capital to buy home mortgages as a means to help lower housing costs. A sister institution to the Federal National Mortgage AssociationFederal National Mortgage Association
(FMNA), commonly known as Fannie Mae,
government-sponsored enterprise that is the largest purchaser and guarantor of home mortgages in the country. Headquartered in Washington, D.C.
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 (Fannie Mae), as well as a sometime competitor, Freddie Mac aims to foster liquidity, stability, and affordability in the U.S. mortgage market to give Americans the opportunity to afford housing. Chartered by Congress in 1970, it purchases mortgages from a variety of lenders and issues numerous publicly offered securities backed by those mortgages; it also retains some securities in its portfolio. One of the country's biggest buyers of home mortgages, by the early years of the 21st cent. Freddie Mac had provided help to over 46 million families, or approximately one in every six American homes. However, disclosures in 2003 that Freddie Mac had misstated its earnings for 2000–2002 damaged its credibility. In 2008 housing-market and mortgage-default problems that began in 2007 led to significant losses at Freddie Mac and concerns about its undercapitalization and possible bankruptcy. It and Fannie Mae, which was in less severe financial straits, were placed under the conservatorship of Federal Housing Finance Agency in Sept., 2008, in an attempt avoid a collapse of confidence in the U.S. mortgage-financing system. Freddie Mac has its headquarters in McLean, Va.
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References in periodicals archive ?
The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) have been the principal engines pushing the criminally risky and thoroughly corrupt subprime mortgage market.
CFS Bank participated in the New York City Housing Partnership New Homes Program, which subsidized the purchase of homes for certain first-time buyers through financing from conventional loan products offered by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. CFS Bank also offered "credit rehabilitation" loans that used flexible underwriting criteria to assist persons who might not otherwise qualify for conventional mortgage loans.
Brendsel, chairman of the Federal Home Loan Mortgage Corporation (Freddie Mac).
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) MBS.
The PNC Financial Services Group Inc (NYSE: PNC) has said that its affiliate, PNC Bank, National Association, has reached an agreement with the Federal Home Loan Mortgage Corporation (Freddie Mac), to resolve all indemnification and repurchase obligations related to loans sold to Freddie Mac between 2000 and 2008.
Real estate investment trust, Two Harbors Investment Corp's (NYSE:TWO) (NYSE MKT:TWO.WS) wholly-owned subsidiary, acquired a company, that has Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation, (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae) approvals, to hold and manage mortgage servicing rights (MSRs), it reported on Thursday.
Prior to her recent appointment, she was managing director of the Northeast Region for Freddie Mac with the Federal Home Loan Mortgage Corporation. Levine holds a Bachelor of Arts degree from New York University.
The secondary market for mortgage loans has been one of the fastest-growing markets in the past two decades and many of these mortgages are securitized by the Federal National Mortgage Association (FNMA), the Government National Mortgage Association (GNMA) and the Federal Home Loan Mortgage Corporation (FHLMC).
31, 2017, 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) MBS.
Bank of America (NYSE: BAC) has said that it has entered into an agreement with the Federal Home Loan Mortgage Corporation (Freddie Mac) to resolve all remaining representations and warranties claims for residential mortgage loans sold to Freddie Mac until the end of 2009.

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