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Freddie Mac: Difference between revisions
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{{Short description|American government-sponsored enterprise}} | {{Short description|American government-sponsored enterprise}} | ||
{{Organization | |||
|OrganizationName=Freddie Mac | |||
|OrganizationType=Government Corporations | |||
|Mission=Freddie Mac supports America's homebuyers, homeowners, and renters by providing liquidity, stability, and affordability to the housing market. It facilitates homeownership and rental housing by purchasing mortgages and mortgage-related securities, thereby ensuring funds are available for mortgage lending. | |||
|OrganizationExecutive=Chief Executive Officer | |||
|Employees=7000 | |||
|Budget= | |||
|Website=https://www.freddiemac.com/ | |||
|Services=Mortgage-backed securities; Single-family loans; Multifamily loans; Credit risk transfer; Housing finance solutions | |||
|ParentOrganization= | |||
|CreationLegislation=Emergency Home Finance Act of 1970 | |||
|Regulations= | |||
|HeadquartersLocation=38.928204, -77.213581 | |||
|HeadquartersAddress=8200 Jones Branch Dr, McLean, VA 22102 | |||
}} | |||
The '''Federal Home Loan Mortgage Corporation''' ('''FHLMC'''), commonly known as '''Freddie Mac''', is an American [[publicly traded]], [[government-sponsored enterprise]] (GSE), headquartered in [[Tysons, Virginia|Tysons]], [[Virginia]].<ref name="TysonsMap">"[http://factfinder.census.gov/servlet/MapItDrawServlet?geo_id=16000US5179952&_bucket_id=50&tree_id=420&context=saff&_lang=en&_sse=on Tysons Corner CDP, Virginia] {{webarchive |url=https://web.archive.org/web/20111110181002/http://factfinder.census.gov/servlet/MapItDrawServlet?geo_id=16000US5179952&_bucket_id=50&tree_id=420&context=saff&_lang=en&_sse=on |date=2011-11-10}}". [[United States Census Bureau]]. Retrieved on May 7, 2009.</ref><ref>"[http://www.freddiemac.com/corporate/about/contactus.htm Contact Us] {{webarchive |url=https://web.archive.org/web/20090514133503/http://www.freddiemac.com/corporate/about/contactus.htm |date=2009-05-14}}". Freddie Mac. Retrieved on May 12, 2009.</ref> The FHLMC was created in 1970 to expand the [[secondary market]] for [[Mortgage loan|mortgages]] in the US. Along with its sister organization, the Federal National Mortgage Association ([[Fannie Mae]]), Freddie Mac buys mortgages, pools them, and sells them as a [[mortgage-backed security]] (MBS) to private investors on the open market. This [[secondary mortgage market]] increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name "Freddie Mac" is a variant of the FHLMC [[Acronym and initialism|initialism]] of the company's full name that was adopted officially for ease of identification. | The '''Federal Home Loan Mortgage Corporation''' ('''FHLMC'''), commonly known as '''Freddie Mac''', is an American [[publicly traded]], [[government-sponsored enterprise]] (GSE), headquartered in [[Tysons, Virginia|Tysons]], [[Virginia]].<ref name="TysonsMap">"[http://factfinder.census.gov/servlet/MapItDrawServlet?geo_id=16000US5179952&_bucket_id=50&tree_id=420&context=saff&_lang=en&_sse=on Tysons Corner CDP, Virginia] {{webarchive |url=https://web.archive.org/web/20111110181002/http://factfinder.census.gov/servlet/MapItDrawServlet?geo_id=16000US5179952&_bucket_id=50&tree_id=420&context=saff&_lang=en&_sse=on |date=2011-11-10}}". [[United States Census Bureau]]. Retrieved on May 7, 2009.</ref><ref>"[http://www.freddiemac.com/corporate/about/contactus.htm Contact Us] {{webarchive |url=https://web.archive.org/web/20090514133503/http://www.freddiemac.com/corporate/about/contactus.htm |date=2009-05-14}}". Freddie Mac. Retrieved on May 12, 2009.</ref> The FHLMC was created in 1970 to expand the [[secondary market]] for [[Mortgage loan|mortgages]] in the US. Along with its sister organization, the Federal National Mortgage Association ([[Fannie Mae]]), Freddie Mac buys mortgages, pools them, and sells them as a [[mortgage-backed security]] (MBS) to private investors on the open market. This [[secondary mortgage market]] increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name "Freddie Mac" is a variant of the FHLMC [[Acronym and initialism|initialism]] of the company's full name that was adopted officially for ease of identification. | ||