[Congressional Record Volume 141, Number 128 (Thursday, August 3, 1995)]
[Senate]
[Page S11340]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                     FREDDIE MAC'S 25TH ANNIVERSARY

 Mr. BOND. Mr. President, I rise to acknowledge the 25th 
anniversary of the Federal Home Loan Mortgage Corporation [Freddie Mac] 
and recognize Freddie Mac for its outstanding contribution in making 
financial credit available for home ownership.
  In 1970, Congress created Freddie Mac to help ensure the nationwide 
availability of low-cost mortgage funds to home buyers everywhere. 
Freddie Mac has risen to this challenge by dedicating its resources and 
ingenuity to making the American dream of home ownership a reality. 
Since 1970, Freddie Mac has purchased some $1.2 trillion in mortgage 
loans, including $16 billion in Missouri, enabling some 16 million 
American families to own their own home. By purchasing mortgage loans 
from lenders, packaging loans into securities, and selling the 
securities to investors, Freddie Mac has been a primary participant in 
developing a secondary mortgage market that provides a continuous flow 
of funds to finance home ownership.
  I emphasize that Freddie Mac has made a real commitment and 
continuing contribution to the mortgage finance system. Part of this 
commitment is Freddie Mac's effort to encourage fair lending and 
eliminate barriers to home ownership. Freddie Mac also has made a 
commitment to revitalizing neighborhoods by emphasizing community 
development mortgage lending for owner-occupied or rental housing which 
is affordable to low-, moderate-, and middle-income families. The 
shared commitment of Freddie Mac and its nonprofit partners have 
produced programs that are helping to revitalize neighborhoods 
throughout America.
  The contribution of Freddie Mac to home ownership in America cannot 
be minimized. Congratulations to Freddie Mac on its 25th 
anniversary.


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