Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 211

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 211
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 During the years ended December 31, 2024, 2023, and 2022, no transactions outside of normal business activities have occurred between us and the U.S. government (or any of its related parties), except for the following:n    The transactions with Treasury discussed above in Purchase Agreement and Warrant; n    The transactions entered into whereby we and Fannie Mae, in conjunction with Treasury, provided assistance to state and local HFAs. Treasury will reimburse Freddie Mac for initial guarantee losses on these transactions;n    The allocation or transfer of 4.2 bps of each dollar of new business purchases to certain housing funds as required under the GSE Act. During the years ended December 31, 2024, 2023, and 2022, we recognized $0.2 billion, $0.1 billion, and $0.3 billion, respectively, of expense related to the affordable housing funds. These amounts are included in legislative and regulatory assessments on our consolidated statements of income; andn    The legislated guarantee fees on single-family loans that are remitted to Treasury as required by law. During the years ended December 31, 2024, 2023, and 2022, we recognized $2.9 billion, $2.9 billion, and $2.8 billion, respectively, of expense related to the legislated guarantee fees. These amounts are included in legislative and regulatory assessments on our consolidated statements of income.In addition, we are deemed a related party with Fannie Mae as both we and Fannie Mae have the same relationships with FHFA and Treasury. All transactions between us and Fannie Mae have occurred in the normal course of business in conservatorship other than our relationship with CSS discussed below.In October 2013, FHFA announced the formation of CSS. CSS is a limited liability company equally-owned by Freddie Mac and Fannie Mae, and CSS is also deemed a related party. In connection with the formation of CSS, we and Fannie Mae signed governance and operating agreements for CSS, including an updated customer services agreement with Fannie Mae and CSS. We have also entered into an agreement with Fannie Mae regarding the commingling of certain of our mortgage securities and related indemnification obligations. During the year ended December 31, 2024, we contributed $68 million of capital to CSS, and we have contributed $938 million since the fourth quarter of 2014.