Freddy Mac

/ ˈfrɛdɪ mæk /

noun

1. (in the US) an informal name for the Federal Home Loan Mortgage Corporation, a private company that buys and sells mortgage debt

Word History and Origins

Origin of Freddy Mac¹

C20: altered from the initials FHLMC; influenced by _{Fannie Mae}

Example Sentences

There are multiple programs through Fannie Mae and Freddy Mac, as well as tax deductions.

Read more on Seattle Times

During last year’s hurricane season, mortgage financiers such as Fannie Mae and Freddy Mac encouraged lenders to offer homeowners a forbearance — a temporary suspension or reduction in their mortgage payments — for up to 12 months.

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While mortgage rates may not remain at the historic lows seen recently, more people may qualify for home loans as issues like foreclosures or short sales age out of their credit reports and Freddy Mac and Fannie Mae ease mortgage eligibility.

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It will not help the majority of those in such danger – for example, the 50% of mortgages owned by Fannie Mae and Freddy Mac are ineligible.

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Pawlenty, for his part, suggests that Amtrak, the Federal Printing Office, Fannie Mae and Freddy Mac and the postal service are all unnecessary.

Read more on Salon