Federal Home Loan Mortgage Corporation[FHLMC] Law and Legal Definition
The Federal Home Loan Mortgage Corporation (FHLMC) is a federal corporation created by Congress in 1970. The FHLMC is a government sponsored enterprise of the U.S. federal government. The objectives of the FHLMC are the following:
1. To expand secondary market for mortgages in the U.S.;
2.To increase the supply of available money for mortgage lending;
3.To increase the available money for new home purchases.
The FHLMC is as also known as Freddie Mac. The statutory objective of the FHLMC is to provide ongoing assistance to the secondary market for home mortgages, including mortgages securing housing for low and moderate income families. The FNMA is loosely regulated by the federal government. The FNMA is authorized to make and perform contracts, agreements, and commitments. The FNMA is also authorized to acquire, take, hold, and own and to deal with and dispose of any property. [Paley v. Federal Home Loan, Mortgage Corp., 1994 U.S. Dist. LEXIS 9243 (E.D. Pa. July 6, 1994)]
Legal Definition list
- Federal Home Loan Mortgage Corporation[FHLMC]
- Federal Home Loan Mortgage Corporation
- Federal Home Loan Banks [FHLB]
- Federal Home Loan Bank Board
- Federal Home Loan Bank Act of 1932
- Federal Housing Administration
- Federal Housing Finance Agency
- Federal Housing Finance Board
- Federal Implementation Plan [Pollution Prevention]
- Federal Income Tax
- Federal Indian Reservation
Related Legal Terms
- Accompanying the Federal Government Outside the United States
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Loan [HUD]
- Acquisition, Development and Construction (ADC) Loan
- Active Voters [Federal Elections]
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Adjustable Rate Mortgage
- Adjustable Rate Mortgage Caps
- Adjustable Rate Mortgage Loan
