Fhlmc (Noun)
Meaning
A corporation authorized by Congress to provide a secondary market for residential mortgages.
Classification
Nouns denoting groupings of people or objects.
Examples
- Federal National Mortgage Association works closely with its sister organization FHLMC to guarantee mortgage-backed securities.
- FHLMC provides many opportunities for individuals to become homeowners through affordable housing programs.
- The creation of FHLMC was authorized by Congress in the early 1970s.
- The Federal Home Loan Mortgage Corporation, commonly known as FHLMC, plays a critical role in the mortgage industry.
- Government-sponsored enterprise FHLMC helps keep mortgage rates lower for qualified borrowers through its buying and packaging process.