Freddie Mac has installed its second Cray supercomputer, backing up one that it bought last year.

The Federal Home Loan Mortgage Corp. was the first financial services firm to buy a supercomputer.

It has used the computer to analyze and price mortgage securities and manage its portfolio of securities and loans.

Calculations that used to take several days require less than an hour on a supercomputer, said Jim Thompson at Freddie Mac.

Freddie Mac will also use the second computer to test new financial models.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.