If you are searching for the meaning of Freddie Mac in real estate and also a definition of Freddie Mac, then this blog post is helpful for you
Definition
Chartered by Congress in 1970, Freddie Mac is a publicly held corporation that purchases
mortgages in the secondary mortgage market. Freddie Mac came into being as the Federal
Home Loan Mortgage Corporation (FHLMC) with the mission to create a continuous flow
of funds to mortgage lenders. By supplying lenders with the money to make mortgages and
packaging the mortgages into marketable securities which are sold to investors, Freddie Mac also
helps to sustain a stable mortgage credit system which in turn, reduces the mortgage rates paid by
homebuyers. Over the years, Freddie Mac has been responsible for opening the door to
homeownership for one out of six homebuyers in America who would not have qualified
otherwise.
0 comments:
Post a Comment