Company: FMCCN
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001026214-25-000086
Chunk: 1

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 6
Chunk 1
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Table 6 - Components of Non-Interest Expense ChangeChange(Dollars in millions)2Q 20252Q 2024$%YTD 2025YTD 2024$%Salaries and employee benefits($453)($420)($33)(8)%($876)($841)($35)(4)%Professional services, technology, and occupancy(295)(269)(26)(10)(548)(540)(8)(1)Credit enhancement expense(511)(588)77 13 (1,051)(1,185)134 11 Legislative and regulatory assessments:Legislated guarantee fees expense(746)(728)(18)(2)(1,490)(1,452)(38)(3)Affordable housing funds allocation(44)(40)(4)(10)(81)(70)(11)(16)Regulatory assessment(35)(34)(1)(3)(71)(67)(4)(6)Total legislative and regulatory assessments(825)(802)(23)(3)(1,642)(1,589)(53)(3)Other expense(74)(55)(19)(35)(129)(101)(28)(28)Non-interest expense($2,158)($2,134)($24)(1)%($4,246)($4,256)$10 — %

Key Drivers: 

n    Credit enhancement expense

l    2Q 2025 vs. 2Q 2024 and YTD 2025 vs. YTD 2024 - Decreased primarily due to a lower volume of outstanding CRT transactions and lower losses on STACR Trust note repurchases.

Freddie Mac 2Q 2025 Form 10-Q9