MCLEAN, Va., Dec. 16, 2011 /PRNewswire/ -- Freddie Mac (FMCC.OB) announced today that the company reached an agreement with the Securities Exchange Commission (SEC) related to its investigation into the company's exposure to subprime and Alt-A mortgages.
Under the agreement, the SEC will not initiate an enforcement action against Freddie Mac or require the company to pay a monetary penalty.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.
SOURCE Freddie Mac
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