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Mortgage rates rise in week

WASHINGTON, Nov. 14 (UPI) -- The Federal Home Loan Mortgage Corp. said long-term lending rates rose in the week ending Thursday on the strength of a positive employment report.

Mortgage rates climb in week

WASHINGTON, Nov. 7 (UPI) -- The Federal Home Loan Mortgage Corp. said long-term lending rates rose in the week ending Thursday.
Fannie Mae files suit against nine banks

Fannie Mae files suit against nine banks

NEW YORK, Oct. 31 (UPI) -- The Federal National Mortgage Association, known as Fannie Mae, sued nine banks Thursday for manipulating a key benchmark lending rate.
Senate Republicans block two Obama nominees

Senate Republicans block two Obama nominees

WASHINGTON, Oct. 31 (UPI) -- Senate Republicans Thursday killed efforts to end filibusters blocking debate on President Barack Obama's nominees for a cabinet post and a federal judgeship.

Mortgage rates drop in week

WASHINGTON, Oct. 31 (UPI) -- The Federal Home Loan Mortgage Corp. said long-term lending rates fell for the second consecutive week in the week ending Thursday.

Commentary: Costly greed

WASHINGTON, Oct. 28 (UPI) -- Wall Street greed coupled with dire online warnings of financial disasters to come paint a grim picture of the state of democratic capitalism.
ARNAUD DE BORCHGRAVE, UPI Editor at Large
JPMorgan Chase reaches $5.1 billion agreement with FHFA

JPMorgan Chase reaches $5.1 billion agreement with FHFA

NEW YORK, Oct. 26 (UPI) -- U.S. financial giant JPMorgan Chase said it agreed to pay $4 billion to resolve litigation issues with the Federal Housing Finance Agency.

Mortgage rates drop in week

WASHINGTON, Oct. 24 (UPI) -- The Federal Home Loan Mortgage Corp. said average U.S. 30-year fixed loan mortgage rates fell from 4.28 percent to 4.13 percent with 0.8 point in the past week.
Jury finds Bank of America guilty of loan fraud

Jury finds Bank of America guilty of loan fraud

NEW YORK, Oct. 23 (UPI) -- A Manhattan jury found Bank of America guilty of fraud by purchasing Countywide Financial, which, in 2007, rushed to sell loans to national mortgage brokers.
Home prices up slightly in August

Home prices up slightly in August

WASHINGTON, Oct. 23 (UPI) -- The U.S. Federal Housing Finance Agency's House Price Index rose 0.3 percent in August with prices now higher for 19 consecutive months, the agency said.

The almanac

UPI Almanac for Monday, Oct. 21, 2013.
By United Press International

Report: JPM, Justice Dept. reach $13B settlement

WASHINGTON, Oct. 19 (UPI) -- JPMorgan Chase & Co. has tentatively agreed to pay $13 billion to settle civil complaints in its mortgage securities business, U.S. officials said.

Interest rates rise on long-term home loans

WASHINGTON, Oct. 17 (UPI) -- Average U.S. mortgage rates rose in the week ending Thursday for long-term loans, the Federal Home Loan Mortgage Corp. said.
U.S. mortgage rates slide in week

U.S. mortgage rates slide in week

WASHINGTON, Oct. 3 (UPI) -- Average U.S. mortgage rates declined in the week ending Thursday, the Federal Home Loan Mortgage Corp. said.

JPMorgan Chase could face fine of $11 billion or more

WASHINGTON, Sept. 27 (UPI) -- A Department of Justice settlement with JPMorgan Chase could result in a fine of more than $11 billion, sources told The Wall Street Journal.
Page 3 of 16
Photos
Freddie Mac
David Kellermann, acting chief financial officer at Freddie Mac, was found dead of an apparent suicide on April 22, 2009 in Vienna, Virginia, in suburban Washington, DC. Kellermann, 41, was named to the position in September, 2008, when the federal government took control of the financially-troubled company and ousted its top executives. In recent weeks, Kellermann apparently received a controversial $800,000 bonus. (UPI Photo/HO)
Wiki

The Federal Home Loan Mortgage Corporation (FHLMC) (NYSE: FRE), known as Freddie Mac, 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 mortgage-backed securities to investors on the open market. This secondary mortgage market increases the supply of money available for mortgages lending and increases the money available for new home purchases. The name, "Freddie Mac", was a acronym of the company's full name that had been adopted officially for ease of identification (see "GSEs" below for other examples).

On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Freddie Mac."
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