The Federal Home Loan Mortgage Corp. (FHLMC), or Freddie Mac, is a stockholder-owned, government-sponsored enterprise (GSE) chartered by Congress in 1970 to keep money flowing to mortgage lenders, which in turn supports homeownership and rental housing for middle-income Americans. Freddie Mac pur...
TheFederal National Mortgage Association(FNMA, or Fannie Mae) and theFederal Home Loan Mortgage Corporation(FHLMC, or Freddie Mac) are government-sponsored entities that drive the market for home loans. These quasi-governmental agencies have created standardized rules and guidelines to whichmortgagesfor ...
A bond is essentially a loan an investor makes to the bonds' issuer. That issuer can be the government in the form of municipal bonds, companies in the form of corporate bonds, or even international organizations.
As the housing market expanded during the late 1970s through the early 1990s, it became common for banks and savings and loans to make mortgages and sell them in packages to the Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC) and mortgage bankers. Th...
Federal Home Loan Mortgage Corp | FHLMC History & Characteristics from Chapter 23 / Lesson 9 692 Learn what the Federal Home Loan Mortgage Corp is and how it works. Understand the history of the FHLMC. Discover the characteristics and risks of FHLMC securities. Related...
among them the Vanguard Mortgage-Backed Securities ETF (VMBS), which holds mortgage-backed pass-through securities issued byGinnie Mae (GNMA), Fannie Mae (FNMA), and Freddie Mac (FHLMC) with maturities ranging from three to ten years. It is a relatively safe ABS fund with an expense ratio ...
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While MBS backed by GNMA carry negligible risk of default, there is some default risk for MBS issued by FHLMC and FNMA and an even higher risk of default for securities not backed by any of these agencies, although pooling mortgages helps mitigate some of that risk. Investors considering mortg...