Freddie Mac |
| Abbreviation for Federal Home Loan Mortgage Corporation (FHLMC). Like the Federal National Mortgage Association, or Fannie Mae, it is a government sponsored enterprise that buys mortgage loans from the lenders, securitises them, and distributes the securities through the dealer community. The securities are not backed by the US government and their market value prior to maturity will fluctuate. GSE status does enable it to borrow at favourable rates of interest. |
|
|