From Longman Dictionary of Contemporary EnglishFreddie MacFreddie Mac // a US financial institution which buys and sells loans and mortgages to banks and other financial institutions, but does not deal with ordinary borrowers. It was started in 1970 to provide competition for the Fannie Mae organization in the secondary mortgage market. Its full name is the Federal Home Loan Mortgage Corporation.From Longman Business DictionaryFreddie MacFred‧die Mac /ˌfredi ˈmæk/ noun trademarkFINANCEBANKINGORGANIZATIONS an informal name for the FEDERAL HOME LOAN MORTGAGE CORPORATIONFreddie Mac will finance mortgages for homebuyers in predominantly minority neighborhoods with low ownership rates, working with borrowers until they qualify for loans.
