Freddie Mac 2005 Annual Report Download - page 8

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Freddie Mac brings stability, liquidity and affordability to the
nation’s housing finance system during good times and tough times.
That’s our reason for being. And our continuing commitment.
Stability. When a trio of hurricanes battered the Gulf Coast in the fall of 2005, Freddie
Mac responded decisively — putting both our balance sheet and our expertise to work.
We helped jumpstart home rebuilding and community renewal by providing relief to
borrowers, originators and servicers. We also brought stability to the market, using our
retained portfolio, by committing to buy up to $1 billion of mortgage revenue bonds issued
by state and local housing authorities. With well over half of Freddie Mac’s purchases
already completed, housing officials are using these low-cost funds to provide affordable
housing for thousands of affected families. In these and other ways, we are fulfilling our
mission as a government-sponsored enterprise (GSE) to protect homeowners, the housing
sector and the economy from the shock of unexpected events. And our leadership has
been widely recognized by public officials and lenders alike.
Liquidity. Through Freddie Mac’s investment and securitization activities, we ensure a
ready supply of money for lenders. We excel at tapping global financial markets to support
housing in America — and at transferring interest-rate risk from households to these
markets, which are much better equipped to handle it. In 2005, we made home possible for
millions of families by providing the residential secondary mortgage market with more than
Commitment
CONTINUING