Kiritsis & Associates


What is the Federal Home Loan Mortgage Corporation (FHLMC)? Kiritsis Law Group 212 922 0005

May 13, 2021

By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

FHLMC is often referred to as Freddie Mac, and it is structured as a public government sponsored enterprise. Charging guarantee fees on loans that it has bought and securitized into the MBS bond market (mortgage backed security), is the main way FHLMC makes money. Fredie Mac was created in 1970 with the objective of expanding the U.S. secondary market. In a controversial move, the U.S. Government in 2008 put Fredie Mac under the conservatorship of the FHFA (Federal Housing Finance Agency). Reports indicate that Fredie Mac was still paying the Treasury Department out of its profits, as late as 2018. Lawsuits against Fredie Mac over its conduct during the pre-2007 subprime lousing bubble have been largely unfruitful. In the aftermath of the 2008 financial crisis, there have been several proposed legislation measures, aimed to regulate Fredie Mac. Time will tell on their implementation and degree of success.


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