Company: FMCCN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001026214-25-000116
Chunk: 0

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 5
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Table 5 - (Provision) Benefit for Credit Losses ChangeChange(Dollars in millions)3Q 20253Q 2024$%YTD 2025YTD 2024$%Single-Family($118)$99 ($217)NM($968)($336)($632)(188)%Multifamily(57)92 (149)NM(270)(48)(222)(463)(Provision) benefit for credit losses($175)$191 ($366)NM($1,238)($384)($854)(222)%

Key Drivers:

n    3Q 2025 vs. 3Q 2024 - The provision for credit losses for 3Q 2025 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions. The benefit for credit losses for 3Q 2024 was driven by a credit reserve release in Single-Family as a result of lower mortgage interest rates and a credit reserve release in Multifamily due to enhancements in the credit loss estimation process.

n    YTD 2025 vs. YTD 2024 - The provision for credit losses for YTD 2025 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions, changes in estimated market values of single-family properties based on our internal house price index, and changes in forecasted house price growth rates. The provision for credit losses for YTD 2024 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions.

Freddie Mac 3Q 2025 Form 10-Q8

Management's Discussion and AnalysisConsolidated Results of Operations

Non-Interest Expense 

The table below presents the components of non-interest expense.