Freddie Mac

noun

Federal Home Loan Mortgage Corporation.
a publicly traded security that represents participation in a pool of mortgages guaranteed by the Federal Home Loan Mortgage Corporation.

1970–75; from the initials FHLMC, on the model of Fannie Mae

As with AIG, the government essentially bailed out the financial system by bailing out Fannie Mae and Freddie Mac.

Fannie Mae and Freddie Mac, which buy almost every mortgage originated in the U.S., are still functioning.

Fannie Mae in September paid a $10.2 billion dividend and Freddie Mac paid a $4.4 billion dividend.

Freddie Mac, for its part, has returned $29.6 billion of the $71 billion it took from Treasury.

Fannie Mae and Freddie Mac, the government-owned mortgage agencies, have been minting money and turning it over to Treasury.

April 25, 2024firkin

[fur-kin ]

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