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
A clause that may be inserted in a listing agreement stating no commission will be paid to the broker until the property title has actually been transferred. Normally, willing and able ...
Time period in which one may carry out a lien on property. ...
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Arches, either roofed or open, mounted on a series of pillars to form a passageway or walkway. ...
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Legal proceeding whereby a person's property is attached and used to pay an obligation. The employer may withhold part of the employee's salary to the court until the debt has been paid. ...
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Named after Sir Robert Torrens, a British administrator in Australia. The torrens system is a state-sponsored system of land title registration, not applicable in states, such as California. ...
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