America relies on Freddie Mac to support the housing market and the nations renters, homebuyers and homeowners across the entire country and in all economic cycles. Since being chartered by Congress in 1970, we have fulfilled our mission to keep mortgage money flowing, support the stability of the housing market, and promote housing affordability. And we continue to lead the housing industry forward, building a better housing finance system for today and for tomorrow.
Freddie Mac operates in the U.S. secondary mortgage market. That means we dont lend directly to borrowers but buy loans that meet our standards from approved lenders. With the money that lenders receive in return, they can make loans to other qualified borrowers. In securitizing pools of mortgages and selling the securities to investors, we shift a significant portion of the credit risk associated with the loans we own to private investors away from taxpayers.
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