Friday, April 25, 2014 8:21 AM EST

Freddie Mac

The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac (NYSE: FRE), is a government sponsored enterprise (GSE) of the United States federal government. Freddie Mac has its headquarters in the Tyson's Corner CDP in unincorporated Fairfax County, Virginia.

The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with other GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", was an acronym of the company's full name that had been adopted officially for ease of identification (see "GSEs" below for other examples). Read More

Articles About Freddie Mac

A Bank of America sign is shown on a building in downtown Los Angeles, California January 15, 2014.
Bank of America to Pay $9.3 Billion to Settle Mortgage Bond Claims

By Reuters

Bank of America (BAC.N) agreed to pay $9.3 billion to settle claims that it sold Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) faulty mortgage bonds, helping the bank to end one of the largest legal headaches it still faced from the financial crisis. (Mar 27)

MORE TOPICS: FANNIE MAE, BANK OF AMERICA, GOLDMAN SACHS, HSBC, MERRILL LYNCH, COURT

A Bank of America sign is shown on a building in downtown Los Angeles, California January 15, 2014.
Bank of America's Trading Practices Probed, Shows Filing

By Reuters

The U.S. Department of Justice and the Commodity Futures Trading Commission have both held investigations into whether Bank of America (BAC.N) engaged in improper trading by doing its own futures trades ahead of executing large orders for clients, according to a regulatory filing. (Jan 27)

MORE TOPICS: FANNIE MAE, BANK OF AMERICA, MERRILL LYNCH, NEW YORK, DEPARTMENT OF JUSTICE, FBI

JP Morgan to Pay Largest Ever Settlement in US History

By IBTimes UK

Bank will pay $13bn to settle claims over mortgage asset quality misrepresentation. (Nov 20)

MORE TOPICS: FANNIE MAE, BANK OF AMERICA, CALIFORNIA, COURT, MEXICO, NEW YORK

Bank of America Settle $1.4bn Mortgage Dispute with Freddie Mac

By IBTimes UK

Freddie Mac wants bank to take back $1.4bn faulty securities sold to it. (Nov 12)

MORE TOPICS: FANNIE MAE, BANK OF AMERICA, MORTGAGE, SETTLEMENT

JPMorgan Inks $5.1bn Settlement with US Housing Regulator Over Mortgage Loan Mis-Selling

By IBTimes UK

Deal is part of $13bn agreement reached with US Justice Department. (Oct 26)

MORE TOPICS: FANNIE MAE, NEW YORK, DEPARTMENT OF JUSTICE, MORTGAGE, SETTLEMENT, LONDON

Bank of America Faces $6bn Fine for Misleading Fannie Mae and Freddie Mac

By IBTimes UK

JPMorgan inked a $4bn settlement with the FHFA last week. (Oct 22)

MORE TOPICS: GENERAL ELECTRIC, FANNIE MAE, CITIGROUP, BANK OF AMERICA, DEUTSCHE BANK, CREDIT SUISSE

JPMorgan Faces US Regulators' Probe into Hiring Practices Across Asia

By IBTimes UK

Investigation finds spreadsheet linking bank's appointments to specific deals. (Aug 30)

MORE TOPICS: CHINA, FANNIE MAE, SEC, JPMORGAN CHASE, CALIFORNIA, RETAIL

London Whale: JPMorgan Facing $6bn in Fines over Mis-Selling Mortgage-Backed Securities

By IBTimes UK

Potential penalty comes after JPMorgan lost over $6.2bn from trading scandal. (Aug 28)

MORE TOPICS: CHINA, GENERAL ELECTRIC, FANNIE MAE, CITIGROUP, JPMORGAN CHASE, CALIFORNIA

A World Tour of the Global Economy

By The Daily Reckoning Australia

With election campaigning in full swing here in Australia and financial markets going nowhere, let's look elsewhere for some relief. We'll take a world tour.. (Aug 11)

MORE TOPICS: CHINA, FEDERAL RESERVE, UNEMPLOYMENT, FANNIE MAE, IMF, GERMANY

JPMorgan Facing Civil and Criminal Probes into Mortgage-Backed Bond Sales

By IBTimes UK

Court filing shows bank under 'parallel investigations' by civil and criminal divisions of US Attorney's Office. (Aug 08)

MORE TOPICS: BARACK OBAMA, FANNIE MAE, SEC, BANK OF AMERICA, JPMORGAN CHASE, CALIFORNIA, CITIGROUP, GOLDMAN SACHS