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Federal Home Loan Mortgage Corporation (FHLMC)
a private corporation chartered by Congress in 1970 to make funds from the capital markets available for home financing. It does this by operating a secondary market for home mortgage loans, buying such mortgages from original lenders and selling securities in the capital markets backed by those mortgages. It is popularly known as Freddie Mac.
Source : U.S. Department of the Treasury
Language : English