TeachMeFinance.com - explain Freddie Mac
Mac --Federal Home Loan Mortgage Corporation (FHLM); a federally-chartered
corporation that purchases residential mortgages, securitizes them,
and sells them to investors; this provides lenders With funds for
Freddie Mac -- popular name for the Federal Home Loan Mortgage Corporation.
Federal Home Loan Mortgage Corporation (FHLMC) -- a private corporation chartered by Congress in 1970 to make funds from the capital markets available for home financing. It does this by operating a secondary market for home mortgage loans, buying such mortgages from original lenders and selling securities in the capital markets backed by those mortgages. It is popularly known as Freddie Mac.
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