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Loan and Mortgage Terms Glossary |
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Federal Home Loan Mortgage Corporation (FHLMC Or Freddie Mac):
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.
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