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FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC) In 1970 under the Emergency Home Finance Act, the Federal Home Loan Mortgage Corporation (FHLMC) or "Freddie Mac" was created as a wholly-owned subsidiary of the Federal Home Loan Bank System. Freddie Mac was established as a secondary mortgage market for savings and loan associations who are members of the FHLBS. The creation of FHLMC was of added importance since S & L's make such a high percentage of the total conventional residential mortgages and many these lenders would like to roll over their mortgages.

OFFICE PARK A parcel of land designed and developed to provide for a number of separate or attached office buildings. Normally located in suburban areas such as next to a beltway surrounding a metropolitan area, office parks are intended to provide the users with the facilities necessary to carry on normal business. Such facilities include ample parking, a well-designed road system, landscaping, restaurants and hotel facilities, and an adequate supply of labor.

OFFICE PARK A parcel of land designed and developed to provide for a number of separate or attached office buildings.

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) An independent agency functioning within the executive branch of the U. S. Government. FDIC was established following the run on banks that occurred prior to the Great Depression and its purpose was to insure the deposits of all banks who hold FDIC membership. As a result of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, FDIC currently insures both bank and thrift deposits.

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