Company: FMCCN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001026214-25-000060
Chunk: 64

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 15
Chunk 64
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 respectively. Excludes mortgage loan purchase commitments accounted for as derivative instruments. See Note 8 for additional information on commitments accounted for as derivative instruments.(2)Net of $0.8 billion and $0.4 billion of unsettled securities sold under agreements to repurchase as of March 31, 2025 and December 31, 2024.(3)Consists of unfunded portion of revolving lines of credit, liquidity guarantees, and other commitments.

Freddie Mac 1Q 2025 Form 10-Q60

Financial Statements                         Notes to the Condensed Consolidated Financial Statements | Note 5

NOTE 5

Allowance for Credit Losses

The table below summarizes changes in our allowance for credit losses.Table 5.1 - Details of the Allowance for Credit Losses1Q 20251Q 2024 (In millions) Single-FamilyMultifamilyTotalSingle-FamilyMultifamilyTotalBeginning balance$6,691 $548 $7,239 $6,402 $447 $6,849 Provision (benefit) for credit losses228 52 280 120 61 181 Charge-offs(191)(1)(192)(123)— (123)Recoveries collected27 1 28 26 — 26 Other(1)96 — 96 83 — 83 Ending balance$6,851 $600 $7,451 $6,508 $508 $7,016 Components of the ending balance of the allowance for credit losses:Mortgage loans held-for-investment$6,543 $431 $6,974 $6,189 $381 $6,570 Other(2)308 169 477 319 127 446 Total ending balance$6,851 $600 $7,451 $6,508 $508 $7,016 (1)Primarily includes capitalization of past due interest related to non-accrual loans that received payment deferral plans and loan modifications.(2)Includes allowance for credit losses related to advances of pre-foreclosure costs and off-balance sheet credit exposures.

n    1Q 2025 vs. 1Q 2024 - The provision for credit losses for 1Q 2025 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions. The provision