Company: FMCCN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001026214-25-000060
Chunk: 88

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 15
Chunk 88
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, and $3.3 trillion and $2.3 billion as of December 31, 2024, respectively. 

Freddie Mac 1Q 2025 Form 10-Q80

Financial Statements                      Notes to the Condensed Consolidated Financial Statements | Note 13

Fair Value OptionWe elected the fair value option for certain mortgage loans and loan commitments and certain debt issuances.

The table below presents the fair value and UPB related to items for which we have elected the fair value option.Table 13.6 - Difference Between Fair Value and UPB for Certain Financial Instruments with Fair Value Option Elected(1) March 31, 2025December 31, 2024(In millions)Fair ValueUPBDifferenceFair ValueUPBDifferenceMortgage loans held-for-sale$10,563 $10,377 $186 $11,394 $11,470 ($76)Mortgage loans held-for-investment2,625 2,870 (245)2,413 2,710 (297)Debt of Freddie Mac150 148 2 152 150 2 Debt of consolidated trusts2,655 2,739 (84)1,689 1,817 (128)Other assets (other liabilities)39 N/AN/A1 N/AN/A(1)    Excludes interest-only securities related to debt of consolidated trusts and debt of Freddie Mac with a fair value of $0.5 billion as of both March 31, 2025 and December 31, 2024. 

Changes in Fair Value Under the Fair Value Option ElectionThe table below presents the changes in fair value related to items for which we have elected the fair value option. These amounts are included in investment gains, net, on our condensed consolidated statements of income.Table 13.7 - Changes in Fair Value Under the Fair Value Option Election1Q 20251Q 2024(In millions)Gains (Losses) Gains (Losses)Mortgage loans held-for-sale$227 ($159)Mortgage loans held-for-investment48 (31)Debt of Freddie Mac11 1 Debt of consolidated trusts(47)9 Other assets/other liabilities100 143 Changes in fair value attributable to instrument-specific credit risk were not material for the periods presented for assets or liabilities for which we elected the fair value