Freddie Mac
Freddie Mac, short for the Federal Home Loan Mortgage Corporation, is a publicly-traded, government-sponsored enterprise, headquartered in Tysons Corner, Virginia. It was chartered by Congress in 1970 to support the U.S. housing finance system and ensure a reliable and affordable supply of mortgage funds across the country. Rather than lending directly to borrowers, Freddie Mac operates in the U.S. secondary mortgage market, buying loans that meet its standards from approved lenders. The organization exists to make homeownership and housing more affordable, lowering barriers to accessing sustainable housing and advancing equity in housing.
In October 2021, Freddie Mac announced a $3 billion bond program to support affordable homeownership and serve historically underserved markets.
Freddie Mac failed its low-income refinance goal that was imposed by the Federal Housing Finance Agency (FHFA), in which 21% of its refinances had to be low-income. Freddie Mac only hit the 19.7% mark. Freddie Mac has missed its low and very low-income goals five times each since 2010. The new goal for 2022 has been increased to 26% by new FHFA Director Sandra Thompson.
Regarding home purchasing, home prices that have increased at historic rates led Freddie Mac to increase the limits of its loans to a record level for 2022. Its baseline conforming loan limit will be $647,200 in 2022 – nearly a $100,000 increase from last year. Higher-cost areas will have a new loan limit of $970,800, or 150% of the baseline loan limit. This represents the largest percentage increase and dollar increase in the history of the measurement going back to 1980.
Latest Posts
Freddie Mac: Majority of adults are likely to age in place, survey finds
May 24, 2022New research from Freddie Mac suggests that not only do more seniors want to age in place, but they’re now better equipped to do so.
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Test 11
Apr 12, 2022 -
Freddie Mac opens 2022 with two large CRT offerings
Feb 03, 2022 -
Mortgage rates hold steady at 3.55%
Feb 03, 2022 -
Rising interest rates trigger an exuberant MSR market
Feb 03, 2022 -
CoreLogic: home price appreciation will cool in 2022
Feb 01, 2022 -
Freddie Mac’s Resolve default management platform reimagines traditional loss mitigation
Feb 01, 2022 12:02 am -
Watchdog: FHFA wanted to pay exec $250K “bonus”
Jan 31, 2022 -
GSEs’ cash window loses some luster
Jan 27, 2022 -
Mortgage rates fall slowly after a month-long rise
Jan 27, 2022 -
Opinion: Don’t shrink the GSEs’ market footprint 
Jan 25, 2022 -
Private-label RMBS deals continue their hot streak
Jan 24, 2022