Report to Congress: Examination of Financial Statements of the Federal Home Loan Mortgage Corporation for Years Ended December 31, 1971, and 1972U.S. General Accounting Office, 1973 - 20 pages |
Common terms and phrases
000 omitted accounts are federally ADVANCES PAYABLE Amortization amount automated information system backed bonds board of directors BONDS AND ADVANCES builders Commitment fees commitments to purchase COMPTROLLER Corporation obtains funds Corporation purchases Corporation sells participation Corporation-owned conventional Corporation's financial statements debt expense Discount on mortgages ENDED DECEMBER 31 Federal Home Loan Federal Housing Administration financial position fixed constant commitments FUNDS PROVIDED futures market gage GNMA GNMA-guaranteed bonds groups of mortgages guarantees Home Loan Bank HOME LOAN MORTGAGE income investors July 24 June 1973 Present lenders LOAN MORTGAGE CORPORATION LOAN-GRADING SYSTEM maximum fixed constant million mort MORTGAGE CORPORATION STATEMENT Mortgage loans purchased mortgage-backed bonds mortgages more marketable multifamily combination notes on pages par value participation sale certificates participations in groups participations in mortgages pledged PRINCIPAL BALANCE program it purchases purchases mortgages purchases participations Retained earnings secondary market single-family TEMPORARY CASH INVESTMENTS tion sale certificates tions in groups ventional mortgages Veterans Administration
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Page 8 - Our examination was made in accordance with generally accepted auditing standards and included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.
Page 1 - In our opinion, the financial statements referred to above present fairly the financial position of the various funds of Delaware River Port Authority at December 31, 1985 and the results of its operations and the changes in its financial position for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.
Page 3 - Corporation, which shall be a body corporate and shall be under the direction of a Board of Directors composed of the members of the Federal Home Loan Bank Board, who shall serve as such without additional compensation. The Chairman of the Federal Home Loan Bank Board shall be the Chairman of the Board of Directors.
Page 1 - US General Accounting Office. Examination of financial statements of the Federal Home Loan Mortgage Corporation for the years ended December 31, 1971 and 1972; report to the Congress by the Comptroller General of the United States. Washington, DC, 1973. 20 pp. "B-179312, Nov. 13, 1973" US General Accounting Office.
Page 12 - FEDERAL HOME LOAN BANK BOARD FEDERAL HOME LOAN MORTGAGE CORPORATION STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE 12 MONTHS ENDING SEPTEMBER 30...
Page 3 - ... cash flow from the mortgage loans it holds. The mortgage loans FHLMC purchases are those originated by savings and loan associations and commercial banks in their lending territory. These sellers continue to act as the servicer of the loan in all cases as an agent for FHLMC. Purchases may only be made from members of the Federal Home Loan Bank System and from other financial institutions whose deposits or accounts are insured by agencies of the US Government. The FHLMC is a buyer and seller of...
Page 3 - GNMA mortgage-backed securities Securities whose principal and interest are guaranteed by the Government National Mortgage Association. GNMA securities are collateralized by pools of mortgages that are insured by the Federal Housing Administration or guaranteed by the Veterans Administration. GNMA securities are pass-through in nature (principal and interest payments and all prepayments are passed directly...