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Fair Credit Reporting Act
A consumer protection law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one's credit record .

Federal Home Loan Mortgage Corporation (FHLMC) also called "Freddie Mac"
A quasi-governmental agency that purchases conventional mortgage from insured depository institutions and HUD-approved mortgage bankers .

Federal Home Loan Bank Board (FHLBB )
The former name for the regulatory and supervisory agency for federally chartered savings institutions. Agency is now called the Office of Thrift Supervision.

Federal Housing Administration (FHA )
A division of the Department of Housing and Urban Development. Its main activity is the insuring of residential mortgage loans made by private lenders. FHA also sets standards for underwriting mortgages.

Federal National Mortgage Association (FNMA ) also called Fannie Mae .
A tax-paying corporation created by Congress that purchases and sells conventional residential mortgages as well as those insured by FHA or guaranteed by VA.
This institution, which provides funds for one in seven mortgages, makes mortgage money more available and more affordable.