Business, Legal & Accounting Glossary
Government-chartered corporation which buys qualified mortgage loans from the financial institutions that originate them, securitizes the loans, and distributes the securities through the dealer community. The securities are not backed by the U.S. Government. The market value of these securities prior to maturity is not guaranteed and will fluctuate.
The Federal Home Loan Mortgage Corporation (FHLMC) is a public company (NYSE:FRE) chartered by congress in 1970 to stabilize mortgage markets and expand access to home financing.
Along with Fannie Mae, the Federal Home Loan Mortgage Corporation is one of the principal creators of the secondary mortgage market. Like Fannie Mae, the Federal Home Loan Mortgage Corporation buys residential mortgages from originating lenders and securitizes pools of these mortgages for sale to investors. The securities issued by the Federal Home Loan Mortgage Corporation are not guaranteed by any government entity, but the Federal Home Loan Mortgage Corporation is subject to government oversight. The Federal Home Loan Mortgage Corporation does business under the name Freddie Mac. The Federal Home Loan Mortgage Corporation is headquartered in MacLean, Virginia.
You need to try and make sure that you are good with the FHLMC or they can make things very hard on you.
He worked for the FHLMC and he was really glad to be able to work with us because we were his family and loved him.
The FHLMC has been a tremendous fan to the flame of Real Estate Lending as it takes much of the risk off of individual institutions and spreads it amongst countless investors giving them an opportunity to make money as well as providing capital to banks to spur more lending.
FHLMC
jumbo mortgage
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This glossary post was last updated: 1st November, 2021 | 0 Views.