Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 393

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 393
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  2024 Form 10-K269

Glossary

Glossary

This Glossary includes acronyms and defined terms that are used throughout this report.

n    ACIS - Agency Credit Insurance Structure - Transactions in which we purchase insurance policies that provide credit enhancement for certain specified credit events on the mortgage loans in the related reference pools, or provide front-end credit risk transfer as loans come into the portfolio. Under each of these insurance policies, we pay monthly premiums that are determined based on the outstanding balance of the reference pool. When specific credit events occur, we generally receive compensation from the insurance policy up to an aggregate limit based on actual losses.

n    Administration - Executive branch of the U.S. government and its agencies, including but not limited to FHFA and Treasury.

n    Agency securities - Generally refers to mortgage-related securities issued or guaranteed by the GSEs or government agencies.

n    AMI - Area Median Income.

n    Annual Business Plan - Consolidated business plan and divisional business plans.

n    AOCI - Accumulated other comprehensive income (loss), net of taxes.

n    ARM - Adjustable-rate mortgage - A mortgage loan with an interest rate that adjusts periodically over the life of the loan based on changes in a benchmark index.

n    ASU - Accounting Standards Update. 

n    ASU 2022-02 - Accounting Standards Update 2022-02, Financial Instruments — Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The amendments in this Update eliminate the recognition and measurement guidance related to TDRs in ASC Subtopic 310-40. The amendments in this Update also require disclosure of current period gross write-offs by year of origination for financing receivables within the scope of ASC Subtopic 326-20.

n    ATA - Adjusted total assets.

n    AVM - Automated Valuation Model.

n    Back-end coverage type - Applies to transactions in which the credit risk transfer occurs after our purchase of the loan or guarantee of a security.

n    Bps - Basis points - One one-hundredth of 1%. This term is commonly used to quote the yields of debt instruments or movements in interest rates.

n    Capital Reserve Amount - See Net worth sweep dividend, Net Worth Amount, Capital Reserve Amount, and Capital Reserve End Date for additional information.

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