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Freddie Mac

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This article is part of the Real Economy Project. Take action at BanksterUSA.org.

Freddie Mac, also known as the Federal Home Loan Mortgage Corporation (FHLMC), is "a stockholder-owned corporation chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage pass through securities and debt instruments in the capital markets. By doing so, we ultimately help homeowners and renters get lower housing costs and better access to home financing." Also see Mission.

  • Federal Home Loan Mortgage Corporation Act, Sec. 301. [12 U.S.C. note to 1451.]

Contact

Freddie Mac
HEADQUARTERS I
8200 Jones Branch Drive
McLean, VA 22102-3110
(703) 903-2000


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External resources

External articles

  • 21 November 2003: "Freddie Mac Inflated Earnings by About $1B" by Marcy Gordon, AP: "Mortgage giant Freddie Mac admitted Friday inflating 2001 earnings by nearly $1 billion, the first acknowledgment in its months-long accounting crisis that it overstated profits."
  • 22 November 2003: "Freddie Mac Understated Its Earnings by $5 Billion" by Jonathan D. Glater, New York Times: "...over more than three years, ending an 11-month review of the company's accounting that led to resignations by prominent executives and concerns by regulators and lawmakers. ... The size of the restatement ... is at the high end of the range it announced in June."
  • David D. Kirkpatrick and Charles Duhigg, "Loan Titans Paid McCain Adviser Nearly $2 Million," New York Times, September 21, 2008.