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Federal Home Loan Mortgage Corporation

(Encyclopedia)Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, government-sponsored enterprise that uses private capital to buy home mortgages as a means to help lower housing costs. A sister ...

Home Owners' Loan Corporation

(Encyclopedia)Home Owners' Loan Corporation (HOLC), former U.S. government agency established in 1933 to help stabilize real estate that had depreciated during the depression and to refinance the urban mortgage deb...

Federal National Mortgage Association

(Encyclopedia)Federal National Mortgage Association (FMNA), commonly known as Fannie Mae, government-sponsored enterprise that is the largest purchaser and guarantor of home mortgages in the country. Headquartered ...

Federal Deposit Insurance Corporation

(Encyclopedia)Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $250...

Freddie Mac

(Encyclopedia)Freddie Mac: see Federal Home Loan Mortgage Corporation. ...

mortgage

(Encyclopedia)mortgage, in law, device for protecting a creditor by giving him an interest in property of his debtor. In common law a mortgage was a conditional sale; i.e., the mortgagor (debtor) sold realty (real ...

savings and loan association

(Encyclopedia)savings and loan association (S&L), type of financial institution that was originally created to accept savings from private investors and to provide home mortgage services for the public. The fir...

Reconstruction Finance Corporation

(Encyclopedia)Reconstruction Finance Corporation (RFC), former U.S. government agency, created in 1932 by the administration of Herbert Hoover. Its purpose was to facilitate economic activity by lending money in th...

Resolution Trust Corporation

(Encyclopedia)Resolution Trust Corporation (RTC), in U.S. history, government-owned company formed in 1989 to liquidate the assets of insolvent savings and loan associations (S&Ls). Essentially a huge property-...

SLM Corporation

(Encyclopedia)SLM Corporation, foremost provider of funding for higher education to American students; commonly known as Sallie Mae. The company, which also offers information and resources to assist students and o...