Freddie Mac
Government Sponsored Enterprise and Company
Freddie says TBW-related loss may grow, files claim...million in loan payments and other funds hung up after the bankruptcy of lender Taylor, Bean & Whitaker. Freddie Mac <FRE.N> <FRE.P> said it filed a proof of claim for the money that "should remain" on deposit with Colonial Bank, the... In this article: Freddie Mac, Colonial Bank, Federal Housing Administration, Bankruptcy, FDIC, U.S., Tax, Taylor, Bean & Whitaker, and BB&T Corp |
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AP Online | 1 hour ago
Freddie Mac: Taylor, Bean loss may be significant
NEW YORK (AP) - Mortgage finance company Freddie Mac said Monday it could lose $500 million or more as a result of the bankruptcy protection filing of Taylor, Bean & Whitaker Mortgage Corp. In a regulatory filing with the Securities and...
In this article: Colonial Bank, Taylor, Bean & Whitaker, Federal Housing Administration, Tax, and Securities and Exchange Commission
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The Seattle Times | 2 hours ago
Freddie Mac says TBW losses 'could be significant'
...November 23, 2009 at 2:45 PM Freddie Mac: Taylor, Bean loss may be significant Mortgage finance company Freddie Mac said Monday it could lose $500 million or more as a result of the bankruptcy protection filing of Taylor, Bean &...
In this article: Bankruptcy, Federal Housing Administration, Colonial Bank, Tax, and Securities and Exchange Commission
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Reuters | 9 hours ago
Freddie Mac, FHLB, Fannie Mae 2009 note calendar
Nov 23 (Reuters) - The following are scheduled sales announcement dates for potential Freddie Mac <FRE.N> <FRE.P> reference, Fannie Mae <FNM.N> benchmark notes and Federal Home Loan Bank (FHLB) global note offerings in 2009 and 2010.
In this article: FHLB, Fannie Mae, and Reuters
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Fannie Mae, Freddie Mac bill sale calendar
Nov 23 (Reuters) - The following is a list of scheduled U.S. agency bill sales from Fannie Mae and Freddie Mac for 2009. *Freddie Mac 1-month and 12-month auctions are optional and will be sold at least once a month. **=Bills have been...
In this article: Fannie Mae, U.S., and Reuters
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Freddie Mac sells bills; rates fall, demand weaker
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Freddie Mac to sell $3 bln of bills on Monday
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Freddie Mac, FHLB, Fannie Mae 2009 note calendar
In this article: Fannie Mae, FHLB, and Reuters
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Description from Wikipedia:
The Federal Home Loan Mortgage Corporation (FHLMC) (NYSE: FRE), known as Freddie Mac, is a government sponsored enterprise (GSE) of the United States federal government. Freddie Mac has its headquarters in the Tyson's Corner CDP in unincorporated Fairfax County, Virginia.
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with other GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as mortgage-backed securities to investors on the open market. This secondary mortgage market increases the supply of money available for mortgages lending and increases the money available for new home purchases. The name, "Freddie Mac", was a acronym of the company's full name that had been adopted officially for ease of identification (see "GSEs" below for other examples).
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".
Home loan interest rates may go down as a result, and owners of Freddie Mac debt and the Asian central banks who had increased their holdings in these bonds may be protected. Shares of Freddie Mac stock, however, plummeted to about one U.S. dollar on September 8, 2008 . The yield on U.S Treasury securities rose in anticipation of increased U.S. federal debt.
- Name:
- Federal Home Loan Mortgage Corporation (Freddie Mac)
- Type:
- Public (NYSE: FRE)
- Location:
- Tysons Corner CDP, Virginia
- Founded:
- 1970
- Stock Symbol:
- FRE
- Industry:
- Credit services
- Key People:
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- <small>CEO
- Charles E. Haldeman
- Products:
- Financial services
- Revenue:
- US$ 43.104 billion (2007)
- Operating Income:
- US$ −5.977 billion (2007)
- Net Income:
- US$ −3.094 billion (2007)
- Assets:
- US$ 794.368 billion (2007)
- Equity:
- US$ 26.724 billion (2007)
- No. of Employees:
- 5,281 (2008)
- Motto:
- We Make Home Possible
- Market Cap:
- US$ 270 million (2008)
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