Federal Home Loan Mortgage Corporation
Summary
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac (Pink Sheets: FMCC), 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 a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases.
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Too much agreement means more entitlements
Since 2001, it has produced No Child Left Behind, a counterproductive federal intrusion in primary and secondary education; the McCain-Feingold speech rationing law (the Bipartisan Campaign Reform Act); an unfunded prescription drug entitlement; troublemaking by Fannie Mae and Freddie Mac; government-directed capitalism from the Export-Import Bank; crony capitalism from energy subsidies; unseemly agriculture and transportation bills; continuous bailouts of an unreformed Postal Service; housing subsidies; subsidies for state and local governments; and many other bipartisan deeds, including most appropriations bills.
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Mortgage rates hit new record lows
The average rate for a 15-year fixed-rate mortgage hit a record low of 3. 88 percent for the week ending April 12, according to Freddie Mac. The rate fell. 10 percent from the previous week and is. 01 percent below the previous 30-year mortgage rate of. . .
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Let's Help Reporters Understand What 'Mortgage Refinancing' Is, Shall We?
Dave Dayen today flags an exchange between Fox News White House Correspondent Ed Henry and HUD Secretary Shaun Donovan, in which the former drives the latter to distraction in a discussion over the White House's new plan to allow certain struggling homeowners refinance their homes in order to help them save some scratch.
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ProPublica and NPR on Freddie Mac's Conflicts
Why haven't Freddie Mac and Fannie Mae been much more aggressive about refinancing the mortgages they hold? That's a $50 billion question. ProPublica and NPR have a $3. 4 billion possible answer. Jesse Eisinger and Chris Arnold report that Freddie Mac has placed a huge bet that homeowners in its loans won't be able to refinance their mortgages.
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Gingrich: Rival Will 'Mislead, Distort And Deceive'
Newt Gingrich's campaign released a web video attacking Mitt Romney Friday, hitting the former Massachusetts governor for his efforts to "mislead, distort and deceive" on the campaign trail.
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Newt in Wonderland
When it comes to Newt Gingrich’s post-speaker activities on the Hill, it all depends on what your definition of “lobbying” is.
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WATCH: Jon Stewart LOSES IT Over Newt Gingrich Hypocrisy
Among all of the surreal events that have occurred so far in the 2012 election, we haven't seen Jon Stewart get quite as worked up as he did on Monday night's "Daily Show" over something Newt Gingrich said at last Thursday's debate in South Carolina.
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New Groups Altering 2012 Race
WASHINGTON -- Look no further than Iowa to understand the impact of a Supreme Court ruling that opened the floodgates to outside money in American politics – and to get a glimpse of what's in store for the race between President Barack Obama and the eventual Republican nominee.
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Audit Notes: Nocera on Frannie, The Fed's Politics, Confidence Game
Joe Nocera writes that the SEC's case against Fannie Mae and Freddie Mac executives is "extraordinarily weak," relying on the bogus, debunked data of the American Enterprise Institute: Taking its cues from the Wallison/Pinto school of inflated data, it claims that Fannie and Freddie failed to reveal to investors the true extent of their subprime portfolios.
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Paul's Blitz Unsettles Rivals
WASHINGTON — The images are stark, the music apocalyptic. If Newt Gingrich falters in the Republican presidential contest, Ron Paul's scathing television ads may be a big part of the reason.
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