FEDERAL HOME LOAN MORTGAGE CORPORATION Definition

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FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) is a private corporation chartered by the U.S. Government that issues pass-through securities, known as participation certificates, based on conventional mortgages. FHLMC pass-throughs are traded in a very liquid market and are used as collateral for other activities such as repurchase agreements. FHLMC guarantees the timely payment of interest and ultimate payment of principal. FHLMC is commonly called "Freddie Mac".

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HEALTHY, from a corporate perspective, usually means that the subject entity is financially secure, positioned well within the market and functioning well.

BOUNCED CHECK is a check written for an amount exceeding the checking account balance that is subsequently rejected for payment due to insufficient funds.

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