Federal Home Loan Mortgage Corporation (FHLMC)
Definition of "Federal Home Loan Mortgage Corporation (FHLMC)"
Is a stockholder-owned corporation known as Freddie Mac. Freddie Mac purchases investment-quality mortgage from lenders and packages from lenders and packages them as securities which are re-sold to investors such as insurance companies and pension funds. These securities are guaranteed by Freddie Mac.. FHLMC has been instrumental in reducing mortgage financing costs thereby lowering housing costs as well as increasing the supply of residential mortgages. Freddie Mac has an 18-member board of directors. Thirteen board members are elected, and five are appointed by the President of the United States.
Popular Real Estate Terms
The largest financial intermediaries directly involved in the financing of real estate. Commercial banks act as lenders for a multitude of loans. While they occasionally provide financing ...
Two or more people have a legal duty that can be enforced against them by joint action, against all members, and against themselves as individuals. For example, a bank can require repayment ...
The profit or loss from selling an investment that is held one year or less. Short-term gains are ordinary income, while short-term losses are deducted from current income. Short-term gains ...
A capital asset. An expenditure to buy property and other capital assets that generate revenue. Securities of real estate companies. ...
Any of several types of legal joinders whereby one or more parties unites with or joins other parties in a legal action or proceeding even though the party may not be a direct part of the ...
Intent to deceive or never to carry out the provisions of an agreement. ...
Combination of insurance policies on property with each providing an additional increment of coverage exceeding the limits of the preceding policy. For example, policy A adds $70,000, then ...
Used to indicate what is included in a monthly payment on rental property. If the payment includes only principal and interest, property taxes, and hazard insurance would make the total ...
Having two families live in a residence designed for only one family. This violates single-family residence zoning. ...
Have a question or comment?
We're here to help.