Definitions for "Federal Home Loan Mortgage Corporation"
Keywords:  freddy, fhlmc, mac, quasi, securitizes
FHLMC or Freddie Mac. The Federal Home Loan Mortgage Corporation is the government-chartered...
Also known as Freddie Mac, the FHLMC is a quasi-governmental corporation that provides funds to lenders for conventional loans.
FHLMC or Freddie Mac. Created by Congress in 1970 to develop the private secondary mortgage market. It was originally designed to buy mortgages from S&Ls. The S&Ls had not found FNMA particularly helpful because they primarily made conventional loans, and FNMA was authorized to purchase conventional loans until 1970. FHLMC currently buys government-underwritten and conventional loans from all types of lenders. Operationally, FHLMC and FNMA are quite similar.
Keywords:  fha, administration, housing
Federal Housing Administration (FHA)