Company: FMCCN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001026214-25-000116
Chunk: 12

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 11
Chunk 12
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50%.

l    A larger percentage of new business activity was designated as held-for-investment during the 2025 periods to support increased issuances of fully guaranteed securitizations.

l    Total securitization issuance UPB increased, driven by a larger average securitization pipeline. 

n    Our index lock agreements and outstanding commitments to purchase or guarantee multifamily assets were $25.1 billion and $25.8 billion as of September 30, 2025 and September 30, 2024, respectively.

Freddie Mac 3Q 2025 Form 10-Q17

Management's Discussion and AnalysisOur Business Segments | Multifamily

Multifamily Mortgage Portfolio and Guarantee Exposure 

       Mortgage Portfolio                                              (UPB in billions)                                                                                                                                                                                              Guarantee Exposure                                             (UPB in billions)                                                                                               

Key Drivers: 

n    September 30, 2025 vs. September 30, 2024 

l    Our mortgage portfolio increased 6% year-over-year, driven by our new business activity.

l    Our guarantee exposure increased 6% year-over-year, as our new mortgage-related security guarantees outpaced paydowns.

l    The average guarantee fee rate on our guarantee exposures increased year-over-year, primarily due to continued growth of fully guaranteed securitization issuances for which we charge higher guarantee fee rates.

n    In addition to our Multifamily mortgage portfolio, we have investments in LIHTC fund partnerships with carrying values totaling $4.7 billion as of September 30, 2025, and $4.3 billion as of December 31, 2024. 

Freddie Mac 3Q 2025 Form 10-Q18