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Freddie Mac

Like Fannie Mae, Freddie Mac is a government-sponsored company. It was founded in 1970 to help expand the secondary market for mortgages in the U.S. According to its website, the mission of the mortgage lending company is to provide liquidity, stability, and affordability to the U.S. housing market in all economic conditions. Over its 50-year history, the company has provided more than $11.6 trillion to help over 69.6 million homeowners and 11.4 million renters in all 50 states. During the Great Recession in 2008, Freddie Mac (along with Fannie Mae) was placed under conservatorship by the Federal Housing Finance Agency (FHFA) as a means to bail out the company during the country’s housing crisis.
Andrew Harrer—Bloomberg via Getty Images
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