Company: FMCCN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001026214-25-000116
Chunk: 138

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 138
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 62 232,812 Single-Family mortgage portfolio - non-credit-enhanced1,200,772 38                              N/ATotal$3,141,321 100%$232,812 

Freddie Mac 3Q 2025 Form 10-Q23

Management's Discussion and AnalysisRisk Management

December 31, 2024(Dollars in millions)UPB(1)% of PortfolioMaximum Coverage(2)(3)Primary mortgage insurance(4)$658,104 21%$174,445 STACR 1,196,740 3928,471 ACIS754,489 2416,474 Other38,951 1 10,643 Less: UPB with multiple credit enhancements and other reconciling items(5)(733,818)(23)— Single-Family mortgage portfolio - credit-enhanced1,914,466 62 230,033 Single-Family mortgage portfolio - non-credit-enhanced1,189,708 38                              N/ATotal$3,104,174 100%$230,033 

(1)    Represents the current UPB of the mortgage assets, reference pool, or securitization trust, as applicable.

(2)    For STACR transactions, represents the outstanding balance held by third parties. For ACIS transactions, represents the remaining aggregate limit of insurance purchased from third parties. 

(3)    The credit risk positions to which the maximum coverage applies may vary on a transaction-by-transaction basis.

(4)    Amounts exclude certain loans for which we do not control servicing, as the coverage information for these loans is not readily available to us.

(5)    Other reconciling items primarily include timing differences in reporting cycles between the UPB of certain CRT transactions and the UPB of the underlying loans. 

Credit Enhancement Coverage Characteristics

The table below provides the serious delinquency rates for the credit-enhanced and non-credit-enhanced loans in our Single-Family mortgage portfolio. The credit-enhanced categories are not mutually exclusive as a single loan may be covered by both primary mortgage insurance and other credit enhancements.

Table 18 - Serious Delinquency Rates for Credit-Enhanced and Non-Credit-Enhanced Loans in Our Single-Family Mortgage PortfolioSeptember 30, 2025December 31, 2024(% of portfolio based on UPB)(1