Freddie Mac 2010 Annual Report Download - page 339

ESPP — Employee Stock Purchase Plan
Euribor — Euro Interbank Offered Rate
EVP — Executive Vice President
Exchange Act — Securities and Exchange Act of 1934, as amended
Executive Compensation Program — Executive Management Compensation Program, as amended and restated
Fannie Mae — Federal National Mortgage Association
FASB — Financial Accounting Standards Board
FDIC — Federal Deposit Insurance Corporation
Federal Reserve — Board of Governors of the Federal Reserve System
FHA — Federal Housing Administration
FHFA — Federal Housing Finance Agency — FHFA is an independent agency of the U.S. government established by the
Reform Act with responsibility for regulating Freddie Mac, Fannie Mae, and the FHLBs.
FHLB — Federal Home Loan Bank
FICO score — A credit scoring system developed by Fair, Isaac and Co. FICO scores are the most commonly used credit
scores today. FICO scores are ranked on a scale of approximately 300 to 850 points with a higher value indicating a lower
likelihood of credit default.
Fixed-rate mortgage — Refers to a mortgage originated at a specific rate of interest that remains constant over the life of
the loan.
Foreclosure alternative — A workout option pursued when a home retention action is not successful or not possible. A
foreclosure alternative is either a short sale or deed in lieu of foreclosure.
Foreclosure transfer — Refers to our completion of a transaction provided for by the foreclosure laws of the applicable
state, in which a delinquent borrower’s ownership interest in a mortgaged property is terminated and title to the property is
transferred to us or to a third party. State foreclosure laws commonly refer to such transactions as foreclosure sales, sheriff’s
sales, or trustee’s sales, among other terms. When we, as mortgage holder, acquire a property in this manner, we pay for it
by extinguishing some or all of the mortgage debt.
Freddie Mac mortgage-related securities — Securities we issue and guarantee, including PCs, REMICs and Other
Structured Securities, and Other Guarantee Transactions.
GAAP — Generally accepted accounting principles
Ginnie Mae — Government National Mortgage Association
GSE Act — The Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Reform Act.
GSEs — Government sponsored enterprises — Refers to certain legal entities created by the U.S. government, including
Freddie Mac, Fannie Mae, and the FHLBs.
Guarantee fee — The fee that we receive for guaranteeing the payment of principal and interest to mortgage security
investors.
Guidelines — Corporate Governance Guidelines, as revised
HAFA — Home Affordable Foreclosures Alternative program — In 2009, the Treasury Department introduced the HAFA
program to provide an option for HAMP-eligible homeowners who are unable to keep their homes. The HAFA program took
effect on April 5, 2010 and we implemented it effective August 1, 2010.
HAMP — Home Affordable Modification Program — Refers to the effort under the MHA Program whereby the
U.S. government, Freddie Mac and Fannie Mae commit funds to help eligible homeowners avoid foreclosure and keep their
homes through mortgage modifications.
HERA — The Housing and Economic Recovery Act of 2008
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