Company: FMCCN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001026214-25-000060
Chunk: 24

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 15
Chunk 24
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 2025 and December 31, 2024, respectively. 

The table below presents the UPB and delinquency rates for both credit-enhanced and non-credit-enhanced loans underlying our Multifamily mortgage portfolio.

Table 23 - Credit-Enhanced and Non-Credit-Enhanced Loans Underlying Our Multifamily Mortgage PortfolioMarch 31, 2025December 31, 2024(Dollars in millions)UPBDelinquency RateUPBDelinquency RateCredit-enhanced:Subordination$350,519 0.53 %$352,566 0.45 %MSCR/MCIP73,781 0.24 62,870 0.25 Other9,780 0.67 9,737 0.82 Total credit-enhanced434,080 0.49 425,173 0.43 Non-credit-enhanced32,420 0.17 41,462 0.15 Total$466,500 0.46 $466,635 0.40 

The Multifamily delinquency rate increased to 0.46% at March 31, 2025, primarily driven by an increase in delinquent floating rate loans including small balance loans that are in their floating rate period. As of March 31, 2025, 98% of the delinquent loans in the Multifamily mortgage portfolio have credit enhancement coverage.

Freddie Mac 1Q 2025 Form 10-Q27

Management's Discussion and AnalysisRisk Management

The table below contains details on the loans underlying our Multifamily mortgage portfolio that are not credit-enhanced.

Table 24 - Credit Quality of Our Multifamily Mortgage Portfolio Without Credit EnhancementMarch 31, 2025December 31, 2024(Dollars in millions)UPBDelinquency RateUPBDelinquency RateMortgage loans held-for-sale$10,418 — %$11,856 — %Mortgage loans held-for-investment:  Held by Freddie Mac8,958 0.60 14,589 0.33   Held by consolidated trusts9,659 — 12,125 0.11 Other mortgage-related guarantees3,385 — 2,892 — Total$32,420 0.17 $41,462 0.15 

Credit Enhancement