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What is Freddie Mac and Fannie Mae? Who are they and what do they do?

April 26, 2017Fannie Mae Freddie Mac

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What is Freddie Mac and Fannie Mae? Who are they and what do they do?

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Freddie Mac is short for the Federal Home Loan Mortgage Corporation (FHLMC). Freddie Mac is a federal agency which purchases first mortgages, both conventional and federally insured, from members of the Federal Reserve System and Federal Loan Bank System. Fannie Mae is short for the Federal National Mortgage Association (FNMA). Fannie Mae is a private corporation that deals in the purchase of first mortgages, at discounts.