What does the Federal Home Loan Mortgage Corporation do?

What does the Federal Home Loan Mortgage Corporation do?

A private corporation founded by Congress, the Federal Home Loan Mortgage corporation’s mission is to promote stability and affordability in the housing market by purchasing mortgages from banks and other loan makers.

Do I qualify for Freddie Mac?

The program usually requires a credit score of 660 or higher. At least one borrower must have a traditional credit score to qualify (non-traditional credit reports and scores are not allowed for both borrowers).

What is Freddie Mac address?

8100 Jones Branch Drive, McLean, VA
If you are a shareholder and you have questions regarding Freddie Mac, please contact our Investor Relations group at (571) 382-4732, by email at [email protected], or by mail at 8100 Jones Branch Drive, McLean, VA 22102-3110.

Is Federal Home Loan Mortgage Corporation a government agency?

(FHLMC). Freddie Mac is a stockholder-owned, government-sponsored enterprise (GSE) chartered by Congress in 1970 in support of homeownership for middle-income Americans. The role of Freddie Mac is to buy a large number of loans from mortgage lenders, then combine them and sell them as mortgage-backed securities.

Why did Fannie Mae buy my mortgage?

By purchasing mortgages, Fannie Mae and Freddie Mac enable lenders to make more loans. With more lending money available, consumers keep buying homes, and the real estate market stays afloat. In addition, these companies take worldwide investor money and place it into the US housing market.

How do you tell if your mortgage is Fannie or Freddie?

Fannie Mae can be reached at 800-232-6643 or Fannie Mae’s website​. Freddie Mac can be reached at 800-373-3343 or Freddie Mac’s website.

Is Freddie Mac an FHA loan?

The HARP and HAMP programs are issued for Freddie Mac and Fannie Mae backed loans, not FHA (Federal Housing Administration) loans.

What does it mean when your loan is sold to Freddie Mac?

Your Loan Payments Are Unchanged Even though your mortgage was sold to Freddie Mac, there is no change to the way you make your mortgage payment. You must continue to send your payments to the company listed on your mortgage statement.