Federal Home Loan Mortgage Corporation
| Noun | 1. | Federal Home Loan Mortgage Corporation - a corporation authorized by Congress to provide a secondary market for residential mortgages |
| 单词 | federal home loan mortgage corporation | |||
| 释义 | Federal Home Loan Mortgage Corporation
Federal Home Loan Mortgage CorporationFederal Home Loan Mortgage Corporation,commonly known asFreddie 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. ..... Click the link for more information. (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. Federal Home Loan Mortgage CorporationFederal Home Loan Mortgage Corporation (FHLMC)Freddie MacFederal Home Loan Mortgage CorporationFederal Home Loan Mortgage CorporationA 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. Federal Home Loan Mortgage Corporation
Synonyms for Federal Home Loan Mortgage Corporation
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