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Credit & Lending (MIC: 8.6 SIC: 6111 NAIC: 522292)
Freddie Mac is a stockholder‐owned government‐sponsored enterprise established by Congress in 1970 to to stabilize the nation's residential mortgage markets and expand opportunities for homeownership and affordable rental housing. Co. purchases mortgages that meet Co.'s underwriting and product standards, then bundle them into mortgage‐related securities that can be sold to investors. Co. can use the proceeds to purchase additional mortgages from primary market mortgage lenders. Co. also purchases mortgage loans and mortgage‐related securities for Co.'s investment portfolio, which Co. finances primarily by issuing a variety of debt instruments in the capital markets.
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## Abstract **Credit & Lending (MIC: 8.6 SIC: 111 NAIC: 22292)** Freddie Mac purchases conventional residential mortgages from mortgage lending institutions and finances most of its purchases with sales of guaranteed mortgage securities called Mortgage Participation Certificates for which Co. ulti