In this manner, what does it mean when a house is owned by Freddie Mac?
Freddie Mac is a government-owned corporation that buys mortgages and packages them into mortgage-backed securities. Its official title is the Federal Home Loan Mortgage Corporation or FHLMC. Banks use the funds received from Freddie to make new loans to homebuyers. Freddie uses the proceeds to buy more bank mortgages.
Subsequently, question is, how do I know if Freddie Mac owns my mortgage? Find Out Who Owns My Mortgage
- Fannie Mae. 1-800-2FANNIE (8am to 8pm EST) KnowYourOptions.com/loanlookup ›
- Freddie Mac. 1-800-FREDDIE (8am to 8pm EST) FreddieMac.com/mymortgage ›
- Contact Your Mortgage Company. If your mortgage is not owned by Fannie Mae or Freddie Mac, contact your mortgage company to inquire further.
In this way, why do banks sell mortgages to Freddie Mac?
In a nut shell, selling mortgages to companies like Freddie Mac helps provide more liquidity into the market, allowing lenders like yours to make more home loans.
How do I know who owns my mortgage?
You can look up who owns your mortgage online, call, or send a written request to your servicer asking who owns your mortgage. The servicer has an obligation to provide you, to the best of its knowledge, the name, address, and telephone number of who owns your loan.