GNU Webster's 1913
- n. acronym a corporation authorized by Congress to provide a secondary market for residential mortgages. It is called
Freddie Macin the jargon of the finance industry.
- n. a corporation authorized by Congress to provide a secondary market for residential mortgages
“The FNMA/FHLMC debacle, which lies at the root of the panic, is a classic example of how misjudgments by government entities with lots of cash and no ordinary economic constraints can collaterally damage the entire world.”
“And the most nefarious twist: even though FNMA and FHLMC are exempt from SEC filing requirements, they still voluntarily file their SEC 10-K and 10-Q forms!”
“The takeover of the Federal National Mortgage Association (FNMA), aka Fannie Mae, and the Federal Home Loan Mortgage Corporation (FHLMC), aka Freddie Mac, now collectively to be referred to as “Fannie Pac”, put a punctuation point on a trend that defies explanation.”
“The estimate of fair market value was only one element on the standard FNMA-FHLMC form that determined whether the loan package would be approved and purchased.”
“They gained the majority of both houses in 2007, and immediately began pushing FNMA (Fannie Mae) and FHLMC (Freddie Mac) to make all those sub-prime mortgages, of buy them, to poor folks who were never, ever able to afford them, and thus were and are responsible for the mess.”
“FNMA, FHLMC "Can I please BUY A VOWEL?" yahooBuzzArticleHeadline = 'It\'s Friday 9/5/08 Time for another Bank Failure (or two).”
“Suze, it was the government that started these problems when it created FNMA and FHLMC to begin with.”
“And if the government is the lender of last resort, as they are with the FDIC and FNMA/FHLMC, in another way, should they provide no guidance?”
“The underwriting standards controlled by the quasi-governmental FNMA and FHLMC were loosened to permit lending to people who had no business getting loans.”
“She typically gets these standards from the secondary market GNMA, FNMA, FHLMC, etc.”
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