Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Engler Michelle
 2. Date of Event Requiring Statement (Month/Day/Year)
07/18/2008		 3. Issuer Name and Ticker or Trading Symbol
FEDERAL HOME LOAN MORTGAGE CORP [FRE]
(Last)
(First)
(Middle)
8200 JONES BRANCH DRIVE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

MCLEAN, VA 22102		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 22,199
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock - Options   (1) 05/31/2011 Common Stock 3,786 $ 66.02 D  
Common Stock - Options   (2) 03/30/2014 Common Stock 2,534 $ 59.19 D  
Common Stock - Options   (3) 11/03/2014 Common Stock 2,269 $ 66.1 D  
Common Stock - Options   (4) 07/14/2015 Common Stock 2,258 $ 66.43 D  
Common Stock - Options   (5) 09/07/2016 Common Stock 1,822 $ 63.11 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Engler Michelle
8200 JONES BRANCH DRIVE
MCLEAN, VA 22102		   X      

Signatures

/s/ Claudia Jaques as attorney-in-fact for Michelle Engler 07/18/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The option vested in five equal installments on each of May 2, 2002, March 31, 2004, November 4, 2004, July 15, 2005 and September 6, 2006.
(2) The option vested in five equal installments on each of November 4, 2004, July 15, 2005, September 8, 2006, June 8, 2007 and June 6, 2008.
(3) The option is exercisable in five equal installments. The first four installments became exercisable on each of July 15, 2005, September 8, 2006, June 8, 2007 and June 6, 2008 and the final installment becomes exercisable on the date of the 2009 annual stockholders' meeting.
(4) The option is exercisable in four equal installments. The first three installments became exercisable on each of September 8, 2006, June 8, 2007 and June 6, 2008 and the final installment becomes exercisable on the date of the 2009 annual stockholders' meeting.
(5) The option is exercisable in four equal installments. The first two installments became exercisable on each of June 8, 2007 and June 6, 2008 and the final two installments become exercisable on each of the dates of the 2009 and 2010 annual stockholders' meetings.

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