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The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia. [ 3 ] [ 4 ] The FHLMC was created in 1970 to expand the secondary market for mortgages in the US.
The business was founded in 1929 as Golden West Savings and Loan Association, a small savings and loan in Oakland, California. [2] Golden West Financial's subsidiary, World Savings, was established in Madera, California, in 1912. [2]
IndyMac Bank was founded as Countrywide Mortgage Investment in 1985 by David S. Loeb and Angelo Mozilo [6] [7] as a means of collateralizing Countrywide Financial loans too big to be sold to Freddie Mac and Fannie Mae. In 1997, Countrywide spun off IndyMac as an independent company run by Mike Perry, who remained its CEO until the downfall of ...
The acting chief financial officer of mortgage giant Freddie Mac has committed suicide, according to news reports. David Kellerman, 41, a 16-year-veteran of the company, was found dead this ...
Fannie Mae and Freddie Mac: Basics Fannie Mae was created in 1938 as the Federal National Mortgage Association (FNMA), a financial organization that was owned by the government.
Fannie Mae and Freddie Mac have a limit on the maximum sized loan they will guarantee. This is known as the "conforming loan limit". The conforming loan limit for Fannie Mae, along with Freddie Mac, is set by Office of Federal Housing Enterprise Oversight (OFHEO), the regulator of both GSEs.
As of 2023, Fannie Mae and Freddie Mac support around 70 percent of the mortgage market, according to the National Association of Realtors. That means the majority of conventional loans, those ...
Earl Warren – Assistant Attorney City of Oakland, District Attorney of Alameda County, Attorney General of California, Governor of California and U.S. Supreme Court Chief Justice [128] Charles Stetson Wheeler – attorney, Regent of the University of California [129] Lionel J. Wilson – politician, first African-American mayor of Oakland [130]