One of the mysteries of the English language finally explained.
The Federal Home Loan Mortgage Corporation, a US corporation that trades in mortgages.
- ‘Is Freddie Mac taking any steps to ease troubled borrowers’ issues and make sure new mortgage money is available?’
- ‘And that's a perk that Freddie Mac has lobbied heavily to maintain over the last 10 years.’
- ‘Listed in order of safety, Ginnie Mae, Freddie Macs, and Fannie Maes are federal government agency home mortgages, which are lower risk but not as low risk as U.S. Treasuries.’
- ‘Even though this forced Freddie Mac to take accounting charges this quarter, it is good for the industry, he said.’
- ‘Losses came in derivatives, which are the complex financial instruments that Freddie Mac uses to hedge against swings in interest rates.’
1970s: loosely from the initial letters of Federal Home Loan Mortgage Corporation, on the model of Fannie Mae.
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