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 *
  Kain Gary D
 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)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP-Investements & Cap Mkts
 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 128,361
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) 03/04/2009 Common Stock 810 $ 60.75 D  
Common Stock-Options   (2) 03/02/2010 Common Stock 1,440 $ 41.38 D  
Common Stock-Options   (3) 02/29/2012 Common Stock 10,440 $ 64.35 D  
Common Stock-Options   (4) 03/05/2013 Common Stock 9,020 $ 53.39 D  
Common Stock-Options   (5) 03/31/2014 Common Stock 6,890 $ 59.51 D  
Common Stock-Options   (6) 04/10/2015 Common Stock 6,190 $ 62.79 D  
Common Stock-Options   (7) 03/13/2016 Common Stock 9,580 $ 63.21 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Kain Gary D
8200 JONES BRANCH DRIVE
MCLEAN, VA 22102		       SVP-Investements & Cap Mkts  

Signatures

/s/ Claudia Jaques as attorney-in-fact for Gary D. Kain 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 over five years. 25% vested after 24 months on March 5, 2001 and 25% vested on each of March 5, 2002, March 5, 2003 and March 5, 2004.
(2) The option vested over five years. 25% vested after 24 months on March 3, 2002 and 25% vested on each of March 3, 2003, March 3, 2004 and March 3, 2005.
(3) The option vested in three years. 25% of the option vested on each of March 1, 2003 and March 1, 2004 and 50% vested on March 1, 2005.
(4) The option vested in three years. 25% of the option vested on each of March 6, 2004 and March 6, 2005 and 50% vested on March 6, 2006.
(5) The option vested in three years. 25% of the option vested on each of April 1, 2005 and April 1, 2006 and 50% vested on April 1, 2007.
(6) The option vested in three years. 25% of the option vested on each of April 11, 2006 and April 11, 2007 and 50% vested on April 11, 2008.
(7) The option is exercisable in three annual installments. 25% of the option vested on each of March 14, 2007 and March 14, 2008 and 50% of the option becomes exercisable on March 14, 2009.

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