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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ADDITIONAL PAID IN CAPITAL is the amounts paid for stock in excess of its par value; included are other amounts paid by stockholders and charged to equity accounts other than capital stock.

BANCASSURANCE is a general term describing the broader financial services activities of banks and building societies, in particular their 'insurance company' activities.

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