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 *
  May Michael C
 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-Multifamily Sourcing
 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 71,621
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 2,770 $ 60.75 D  
Common Stock-Options   (2) 03/02/2010 Common Stock 8,250 $ 41.38 D  
Common Stock-Options   (3) 03/01/2011 Common Stock 5,240 $ 67.85 D  
Common Stock-Options   (4) 02/29/2012 Common Stock 6,900 $ 64.35 D  
Common Stock-Options   (5) 11/25/2013 Common Stock 6,560 $ 54.3 D  
Common Stock-Options   (6) 08/08/2014 Common Stock 11,870 $ 64.36 D  
Common Stock-Options   (7) 04/10/2015 Common Stock 11,630 $ 62.79 D  
Common Stock-Options   (8) 06/04/2016 Common Stock 10,460 $ 60.45 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
May Michael C
8200 JONES BRANCH DRIVE
MCLEAN, VA 22102		       SVP-Multifamily Sourcing  

Signatures

/s/ Claudia Jaques as attorney-in-fact for Michael C. May 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 over five years. 25% vested after 24 months on March 2, 2003 and 25% vested on each of March 2, 2004, March 2, 2005 and March 2, 2006.
(4) The option vested over five years. 25% vested after 24 months on March 1, 2004 and 25% vested on each of March 1, 2005, March 1, 2006 and March 1, 2007.
(5) The option vested in four equal installments on each of March 6, 2005, March 6, 2006, March 6, 2007and March 6, 2008.
(6) The option vested in four annual installments. The first installment vested on August 9, 2005 and the last three installments vested on each of April 1, 2006, April 1, 2007 and April 1, 2008.
(7) The option is exercisable in four equal annual installments. The first three installments became exercisable on each of April 11, 2006, April 11, 2007 and April 11, 2008 and the final installment becomes exercisable on April 11, 2009.
(8) The option is exercisable in four equal annual installments. The first two installments became exercisable on each of June 5, 2007 and June 5, 2008 and the next two installments become exercisable on each of June 5, 2009 and June 5, 2010.

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