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Federal Home Loan Mortgage Corporation| Stockholder-owned corporation, chartered by the US Congress in 1970 to provide a continuous flow of funds to mortgage lenders to support the purchase and rental of homes by low- and middle-income families. Freddie Mac does not issue mortgages itself but purchases mortgages from lenders and packages them into securities that are subsequently sold to investors. |
| A crisis in the US system of housing finance, which erupted in 2007, led to emergency intervention by the US federal government in July 2008 to shore up the corporation's finances following a share price collapse, to prevent it defaulting. |
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