| Real Estate Terms -> What is Freddie Mac (FHLMC) |
Freddie Mac (FHLMC)
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What is Freddie Mac (FHLMC)? |
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Federal Home Loan Mortgage Corporation (FHLMC) commonly referred to as Freddie Mac is an agency that purchases conventional mortgage loans from lenders. FHLMC and FNMA together make up what is know as the Secondary Market. Although it does not originate any loans, by purchasing home loans originated by lenders, it frees up more money to be used by those lenders to originate more home loans. These loans must conform to FHLMC standards which is why they are called Conforming Loans. FHLMC programs can often be combined with other programs to create very effective financing packages. |
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