Freddie Mac, officially known as the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise established in 1970 to expand the secondary mortgage market in the United States. It purchases mortgages from lenders, pools them, and sells them as mortgage-backed securities to investors, providing liquidity and stability to the housing finance system. Freddie Mac plays a key role in making homeownership more accessible and affordable by ensuring a steady flow of mortgage funding.