Posted by Ed Garcia on October 28, 2000 at 22:13:25:
Indy Mac, is a lender. Fannie Mae and Freddie Mac, are acronymic nicknames for Federal National Mortgage Association. This is a quasi-public agency converted into a private corporation whose primary function is to buy and sell FHA and VA mortgages in the secondary market. Freddie Mac aka Federal Home Loan Mortgage Corporation: An affiliate of the Federal Home Loan Bank which creates a secondary money market in conventional residential loans and in FHA and VA loans by purchasing mortgages from members of the Federal Reserve System and the Federal Home Loan Bank System.