Freddie Mac

a mortgage funder

Fred·die Mac

F0304150 (frĕd′ē)n. One of two federally chartered corporations that buy and pool US mortgages and issue securities based on those pools.

[Alteration of Fed(eral Home Loan) M(ortgage) C(ompany).]

Fred•die Mac

(ˈfrɛd i ˈmæk)

n. 1. a congressionally chartered corporation that ensures a continuous supply of mortgage funds by purchasing home mortgages from lending institutions. 2. a publicly traded security that represents participation in a pool of mortgages guaranteed by Freddie Mac. [1970–75; from the initials FHLMC Federal Home Loan Mortgage Corporation, on the model of Fannie Mae]

Thesaurus

Noun

Freddie Mac - a corporation authorized by Congress to provide a secondary market for residential mortgagesFederal Home Loan Mortgage Corporation, FHLMCcorp, corporation - a business firm whose articles of incorporation have been approved in some state

Freddie Mac

Freddie Mac (Federal Home Loan Mortgage Corporation)

A Congressionally chartered corporation that purchases residential mortgages in the secondary market from S&Ls, banks, and mortgage bankers and securities for sale in the capital markets.

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.

Freddie Mac

1. A stockholder-owned corporation chartered by Congress in 1970 to help supply funds to mortgage lenders such as commercial banks, mortgage bankers, savings institutions, and credit unions that in turn make funds available to homeowners and multifamily investors. Freddie Mac purchases mortgages from lenders and then packages the mortgages into guaranteed securities that are sold to investors. The firm's common stock trades as FRE on the New York Stock Exchange. Formerly called Federal Home Loan Mortgage Corporation.2. A security that is issued by this corporation and is secured by pools of conventional home mortgages. Holders of Freddie Macs receive a share of the interest and principal payments made by the homeowners.

Freddie Mac.

Freddie Mac is a shareholder-owned corporation that was chartered in 1970 to increase the supply of mortgage money that lenders are able to make available to homebuyers.

To do its job, Freddie Mac buys mortgages from banks and other lenders, packages them as securities, and sells the securities to investors. The money it raises by selling these bonds pays for purchasing the mortgages.

Lenders use the money they realize from selling mortgages to Freddie Mac to make additional loans. Lenders must be approved in order to participate in the program. Loans must meet Freddie Mac qualifications to be eligible for purchase.

To facilitate the lending process, Freddie Mac provides lenders with an automated underwriting tool to help them evaluate mortgage applications.

Freddie Mac guarantees the securities it issues, but the bonds aren't federal debts and aren't federally guaranteed.

Like its sister corporation Fannie Mae, Freddie Mac shares are traded on the New York Stock Exchange (NYSE).

Freddie Mac

See Federal Home Loan Mortgage Corporation.

Freddie Mac

One of two federal agencies that purchase home loans from lenders. The other is Fannie Mae.

See Secondary Mortgage Markets/Fannie Mae and Freddie Mac.

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Fred·die Mac

Fred•die Mac

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Freddie Mac:

Freddie Mac

Freddie Mac (Federal Home Loan Mortgage Corporation)

Freddie Mac

Freddie Mac

Freddie Mac.

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FREDDIE MAC

Freddie Mac

Synonyms for Freddie Mac

noun a corporation authorized by Congress to provide a secondary market for residential mortgages

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