[Congressional Record Volume 141, Number 135 (Friday, August 11, 1995)]
[Senate]
[Page S12420]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                     FREDDIE MAC'S 25TH ANNIVERSARY

 Mr. D'AMATO. Mr. President, I rise to offer my congratulations 
to the Federal Home Loan Mortgage Corporation as it celebrates its 25th 
anniversary. The Federal Home Loan Mortgage Corporation, known as 
Freddie Mac, has served as a vital source of mortgage capital for 2\1/
2\ decades.
   Since its Congressional charter in 1970, Freddie Mac has purchased 
over $1.2 trillion in mortgage loans. After purchase, mortgage loans 
are packaged into securities and sold to investors. Freddie Mac has 
developed an efficient and liquid secondary mortgage market that has 
ensured a continuous and reliable flow of funds to the primary mortgage 
market.
  Freddie Mac steadfastly continues to fulfill its important mission to 
make a reality of the American dream of decent, safe and affordable 
housing. Since its creation, Freddie Mac has assisted 16 million hard 
working American families by financing one out of every six homes in 
the United States. This is a tremendous accomplishment which deserves 
our commendation.
  Freddie Mac is working to enhance the existing mortgage finance 
delivery system through efforts to ensure fair lending, revitalize 
neighborhoods and expand affordable housing opportunities. These 
efforts should enable Freddie Mac to continue to serve Americans for 
generations to come.
  It is with pleasure that I recognize the success story of the Federal 
Home Loan Mortgage Corporation. I applaud Freddie Mac for a job well 
done and wish them a happy anniversary.


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