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Simple English definitions for legal terms

Federal Home Loan Bank Board

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A quick definition of Federal Home Loan Bank Board:

The Federal Home Loan Bank Board, also known as the Federal Housing Finance Board, is an organization that oversees the Federal Home Loan Banks. These banks provide funding for home mortgages and other housing-related projects. The board ensures that these banks operate in a safe and sound manner and comply with regulations.

The Federal Home Loan Mortgage Corporation, also known as Freddie Mac, is a company that buys mortgages from banks and other lenders. This helps to provide more money for banks to lend to homebuyers. Freddie Mac buys both conventional and federally insured mortgages.

A more thorough explanation:

Definition: The Federal Home Loan Bank Board is an organization that oversees the Federal Home Loan Banks and the savings and loan associations that are members of the Federal Home Loan Bank System. It was replaced by the Federal Housing Finance Board in 1989.

Definition: The Federal Home Loan Mortgage Corporation, also known as Freddie Mac, is a corporation that buys mortgages from banks and other lenders. These mortgages can be either conventional or federally insured. Freddie Mac then packages these mortgages into securities and sells them to investors.

Example: A bank lends money to a person to buy a house. The bank then sells the mortgage to Freddie Mac. Freddie Mac bundles the mortgage with other mortgages and sells them to investors. The investors receive payments from the homeowners, and Freddie Mac takes a fee for managing the mortgages.

This example illustrates how Freddie Mac works as an intermediary between banks and investors, making it easier for banks to lend money and for investors to invest in mortgages.

Federal Home Loan Bank | Federal Housing Administration

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

TheAdoptedOne

9:35

yeah i thought you were tweaking for a second

jackfrost11770

9:35

i'm so sorry everyone what the actual fuck this website hates me

WorthlessAttractiveZombie

9:35

Jack's just tweaking on LSD no biggie

jackfrost11770

9:36

to be fair this accurately represents my mental state

KnowledgeableRitzyWasp

9:37

election day psychosis coming in hot (fordham)

jackfrost11770

9:38

usc pls pull through .....

jackfrost11770

9:38

i literally just need one A so i can relax before my ED decision

WorthlessAttractiveZombie

9:38

oh that's right USC might release

soapy

9:43

USC still has not looked at my app

WorthlessAttractiveZombie

9:43

when did you submit soapy?

soapy

9:44

10/16

WorthlessAttractiveZombie

9:44

to be fair it took them almost 2 months for me to go under review

soapy

9:44

Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7

WorthlessAttractiveZombie

9:45

I have not had a date change either for Mich but I've seen people get in without one so who knows

TheAdoptedOne

9:46

I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw

soapy

9:46

But do people get in without addresses going long?

WorthlessAttractiveZombie

9:46

it's tough to tell because a lot of people type out their addresses long to begin with

soapy

9:46

Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that

TheAdoptedOne

9:54

Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)

ClassyPleasantHeron

10:01

The "date changes" at Michigan really don't mean anything. We had to do them in undergrad admissions whenever a Georgia applicant picked the country instead of the state, because we'd have to remove the TOEFL requirement and reassign the application from the international application readers.

soapy

10:06

Classy, does that mean they may look at your application, and that look doesn't necessarily trigger any date change?

1a2b3c4d26z

10:06

Man

1a2b3c4d26z

10:07

Walkin to the bus

1a2b3c4d26z

10:07

What a good day to get into law school

ClassyPleasantHeron

10:11

@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.

soapy

10:12

Ahh, got it. Thank you for the insight!

ClassyPleasantHeron

10:14

You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.

soapy

10:15

I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.

jackfrost11770

10:22

i think it just indicates a change in status like under review or stages of review

jackfrost11770

10:23

my stanford address went long as soon as it was marked complete lmao

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