Business and Personal Finance Dictionary

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• FEDERAL HOME LOAN MORTGAGE CORPORATION - FHLMC (FREDDIE MAC)
  
  A quasi-governmental agency that purchases conventional mortgages in the secondary mortgage market from insured depository institutions and HUD-approved mortgage bankers. It sells participation sales certificates secured by pools of conventional mortgage loans, their principal, and interest guaranteed by the federal government through the FHLMC. It also sells Government National Mortgage Association bonds to raise funds to finance the purchase of mortgages. Popularly know as Freddie Mac.
  
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