Company: FMCCN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001026214-25-000116
Chunk: 2

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 7
Chunk 2
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Management's Discussion and AnalysisConsolidated Balance Sheets Analysis 

CONSOLIDATED BALANCE SHEETS ANALYSIS

The table below compares our summarized condensed consolidated balance sheets.

Table 7 - Summarized Condensed Consolidated Balance SheetsChange(Dollars in millions)September 30, 2025December 31, 2024$%Assets:Cash and cash equivalents$4,624 $5,534 ($910)(16)%Securities purchased under agreements to resell86,334 100,118 (13,784)(14)Investment securities, at fair value83,855 55,771 28,084 50 Mortgage loans held-for-sale1,807 15,560 (13,753)(88)Mortgage loans held-for-investment3,248,704 3,172,329 76,375 2 Accrued interest receivable11,813 11,029 784 7 Deferred tax assets, net4,727 5,018 (291)(6)Other assets26,323 21,333 4,990 23 Total assets$3,468,187 $3,386,692 $81,495 2 %Liabilities and EquityLiabilities:Accrued interest payable$10,185 $9,822 $363 4 %Debt3,379,073 3,304,949 74,124 2 Other liabilities11,329 12,346 (1,017)(8)Total liabilities3,400,587 3,327,117 73,470 2 Total equity67,600 59,575 8,025 13 Total liabilities and equity$3,468,187 $3,386,692 $81,495 2 %

Key Drivers: 

As of September 30, 2025 compared to December 31, 2024: 

n    Securities purchased under agreements to resell decreased primarily due to a change in strategy to increase investments in U.S. Treasury securities.

n    Investment securities increased primarily due to the increase in purchases of U.S. Treasury securities.

n    Mortgage loans held-for-sale decreased primarily due to Multifamily designating a greater percentage of new mortgage loan purchases as held-for-investment to support increased issuances of fully guaranteed securitizations.

n    Mortgage loans held