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?’
- ‘Losses came in derivatives, which are the complex financial instruments that Freddie Mac uses to hedge against swings in interest rates.’
- ‘Even though this forced Freddie Mac to take accounting charges this quarter, it is good for the industry, he said.’
- ‘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.’
1970s: loosely from the initial letters of Federal Home Loan Mortgage Corporation, on the model of Fannie Mae.
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