Freddie Mac is one of the two quasi-governmental mortgage investment companies regulated by the Federal Housing Financing Agency. Freddie Mac buys mortgage loans from banks who have made the mortgage loans to consumers. Freddie Mac sets criteria for the loans that they will buy and banks try to meet these criteria in order to sell the loans. When banks get money from Freddie Mac, they have more money to loan to home buyers.
By Ilyce Glink| 2017-09-06T14:14:43-05:00 March 17th, 1997|
If you've been renting a home for a long time you may be hesitant to take the next step to buy a home. Many renters keep renting out of fears such as neighborhood instability, financial woes and mortgage loan application rejection. What can the real estate industry including mortgage lenders and Freddie Mac and Fannie Mae do to help renters overcome their fears?