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Related to Freddie Mac: Fannie Mae
One of two federally chartered corporations that buy and pool US mortgages and issue securities based on those pools.
[Alteration of Fed(eral Home Loan) M(ortgage) C(ompany).]
Fred•die Mac(ˈfrɛd i ˈmæk)
1. a congressionally chartered corporation that ensures a continuous supply of mortgage funds by purchasing home mortgages from lending institutions.
2. a publicly traded security that represents participation in a pool of mortgages guaranteed by Freddie Mac.
[1970–75; from the initials FHLMC Federal Home Loan Mortgage Corporation, on the model of Fannie Mae]