Freddie Mac Federal Home Loan Mortgage (OTCBB: FMCC) was established by Congress in 1970 and is headquartered in McLean, Virginia. It has 6,871 full-time employees and is the second largest US government sponsored enterprise (GSE, Government Sponsored Enterprise) , The commercial scale is second only to Fannie Mae , aiming to open up the second mortgage market in the United States and increase home loan ownership and housing loan rental income.
Freddie Mac (FMCC):
Together, Freddie Mac and Fannie Mae are the well-known two houses in the United States, and they are also the initiators of the 2008 subprime mortgage crisis. After the crisis, the US government rescued them and survived.
In order to respond to market conditions and participate more actively in the housing loan market, Freddie Mac plans to issue additional financing of US$5.5 billion since November 2007. On July 11, 2008, it also issued a statement saying that the financial situation is good. Freddie Mac stated that as of June 30, 2008, the company’s capital was 15% higher than the minimum limit set by the Federal Office of Housing Enterprise Oversight (OFHOE).
The US government announced on September 7, 2008 that it would take over the troubled US mortgage financing agency Freddie Mac from now on. On June 16, 2010, the US Federal Housing Finance Agency issued a statement requesting the two major US mortgage giants Fannie Mae and Freddie Mac to delist from the New York Stock Exchange and other national stock exchanges under its supervision.
With the subprime mortgage crisis continuing, the housing loan market downturn, and foreclosure housing prices increasing sharply, the US government announced on September 7, 2008 that it would take over Freddie Mac and Fannie Mae, which were on the verge of bankruptcy, at a possible cost of up to US$200 billion. .
The original direct supervision of Fannie Mae in the US government is the Office of Federal Housing Enterprise Oversight (OFHEO, Office of Federal Housing Enterprise Oversight), which is now the newly established Federal Housing Finance Agency (Federal Housing Finance Agency).