Adding to Rob's answer. They are both foreclosures. Sometimes Freddie Mac manages their own loans and you actually make the offer and purchase directly from them. All banks have different paperwork and addendums they required completed when your offer gets accepted. Some want your offer sent to their local agent, others want it completed directly into the computer by your agent. In the end, the only advantage to going with a Fannie or Freddy home is that they frequently offer free home warranties and are more likely to come down to appraised value than private banks. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".