| Business Summary | | Freddie
Mac
(Federal
Home
Loan
Mortgage
Corporation)
is
a
stockholder-owned
corporation
that
was
established
by
Congress
in
1970
to
support
home
ownership
and
rental
housing.
Freddie
Mac
purchases
single-family
and
multifamily
residential
mortgages
and
mortgage-related
securities,
which
it
finances
primarily
by
issuing
mortgage
passthrough
securities
and
debt
instruments
in
the
capital
markets.
Freddie
Mac
guarantees
these
securities
and
mortgage
lenders
sell
their
loans
to
Freddie
Mac
and
use
the
proceeds
to
fund
new
mortgages,
which
in
turn
increases
the
money
supply
to
homebuyers.
The
Company
does
not
make
loans
directly
to
homebuyers,
but
puts
private
investor
capital
to
work
for
homebuyers
in
general. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FRE
securitizes
mortgages
it
has
purchased
and
resells
them
to
investors
in
the
form
of
guaranteed
mortgage
passthrough
securities.
FRE
is
also
engaged
in
the
purchase
and
retention
of
mortgages
and
guaranteed
mortgage
securities.
For
the
six
months
ended
6/30/01,
revenues
rose
23%
to
$17.49
billion.
Net
income
applicable
to
Common
before
acct.
change
and
extraordinary
item
rose
47%
to
$1.68
billion.
Results
reflect
higher
mortgage
securities
balances
and
a
higher
net
interest
margin. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Leland Brendsel | Chairman
and CEO | David Glenn | Vice
Chairman, Pres, COO | Vaughn Clarke, 47 | CFO,
Exec. VP | Maud Mater | Exec.
VP, Gen. Counsel, Sec., Director | John Fisk | Exec.
VP, Single-Family Securitization Group |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|