what is Freddie Mac

**Freddie Mac's Role and Recent Innovations**

1. **Enhancements to Loan Processing and Income Assessment**: Freddie Mac has introduced several innovations to streamline its operations and better serve lenders and borrowers. The introduction of LPA ChoiceSM, an enhancement to its automated underwriting system, indicates a commitment to efficiency. Additionally, incorporating tax transcript data into its income assessment tool demonstrates a dedication to accuracy and accessibility.
2. **Support for Affordable Housing**: Freddie Mac's efforts to expand financing options, such as the expansion of its CHOICEHome program to include modern single-section factory-built homes, reflect its commitment to increasing the availability of affordable housing. This move is in line with its broader mission to support the housing market and promote housing affordability.
3. **Regulatory Compliance and Market Stabilization**: Freddie Mac's charter was initially to support the secondary market for mortgages and mortgage-backed securities, a role it continues to fulfill. Its ability to approve mergers and acquisitions, as seen in the approval of Rocket Companies' acquisition of Mr. Cooper Group, underscores its role in maintaining liquidity and stability in the mortgage market.

These points highlight Freddie Mac's ongoing efforts to innovate, expand access to housing finance, and support market stability, all while operating within its congressional charter.