Company: FMCCN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001026214-25-000116
Chunk: 121

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 121
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086)(2.85)Debt of Freddie Mac197,744 (6,909)(4.65)179,719 (7,486)(5.55)Total interest-bearing liabilities3,334,448 (80,532)(3.22)3,229,461 (72,572)(3.00)Impact of net non-interest-bearing funding69,385 — 0.07 55,628 — 0.05 Total funding of interest-earning assets3,403,833 (80,532)(3.15)3,285,089 (72,572)(2.95)Net interest income/yield$15,856 0.62 %$14,686 0.60 %

(1)Loan fees included in net interest income were $0.9 billion during both YTD 2025 and YTD 2024.

Freddie Mac 3Q 2025 Form 10-Q7

Management's Discussion and AnalysisConsolidated Results of Operations

Non-Interest Income

The table below presents the components of non-interest income.

Table 4 - Components of Non-Interest IncomeChangeChange(Dollars in millions)3Q 20253Q 2024$%YTD 2025YTD 2024$%Guarantee income$377 $487 ($110)(23)%$1,215 $1,366 ($151)(11)%Investment gains (losses), net(237)243 (480)NM74 1,197 (1,123)(94)Other income144 109 35 32 362 334 28 8 Non-interest income$284 $839 ($555)(66)%$1,651 $2,897 ($1,246)(43)%

Key Drivers:

n    Guarantee income 

l    3Q 2025 vs. 3Q 2024 - Decreased primarily due to less favorable fair value changes as a result of smaller declines in medium-term interest rates during 3Q 2025.

l    YTD 2025 vs. YTD 2024 - Decreased primarily due to less favorable fair value changes from prepayment rates during YTD 2025.

n    Investment gains (losses), net 

l    3Q 2025 vs. 3Q 2024 - Decreased primarily due to