Freddie Mac
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| Freddie Mac | |
| Founded | 1970 |
|---|---|
| Headquarters | McLean, Virginia |
| Products | mortgage buyer |
| Web site | www.freddiemac.com |
Freddie Mac is the common name for the Federal Home Loan Mortgage Corporation (FHLMC), a publicly traded company that operates under a federal charter. It is the nation's second largest mortgage buyer, after its rival, Fannie Mae. Like Fannie Mae, Freddie Mac buys mortgages from lending institutions and then either holds them in investment portfolios or resells them as mortgage-backed securities to investors. The two companies play a vital role in providing financing for the housing markets.[1]
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References
- ↑ Companies: Freddie Mac. The New York Times. Retrieved on August 6, 2008.
