The Federal Home Loan Mortgage Corporation , known as Freddie Mac , is a public government sponsored enterprise , headquartered 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 a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases.... The name, "Freddie Mac", is an acronym of the company's full name that had been adopted officially for ease of identification . On September 7, 2008, Federal Housing Finance Agency director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA . The action has been described as "one of the most sweeping government interventions in private financial markets in decades".
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| NYSE symbol: | FRE |
| Founded: | 1970 |
| Headquarters: | Tysons Corner, Virginia |
| Legal structure: | Public company |
| Annual revenue: | $44,002,000,000 |
| Net income: | $-50,119,000,000 |
| Employees: | 5,000 |
| Industries: | Finance |