Company: FMCCN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001026214-25-000060
Chunk: 149

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 149
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5,724 $518,307 $446,702 (1)    Other assets primarily include our guarantee assets. Liabilities primarily include our guarantee obligations.(2)    Total assets and maximum exposure to loss are based on the UPB of Fannie Mae securities underlying commingled Freddie Mac resecuritization trusts. We exclude noncommingled resecuritization trusts from these amounts as we have already guaranteed the underlying collateral and therefore noncommingled resecuritizations do not involve any incremental assets or create any incremental exposure to credit risk. (3)    Maximum exposure to loss is based on our expected recovery receivables and excludes our obligations to make certain payments to the VIE to support payment of the interest due on the notes issued by the VIE, which we account for as derivative instruments. The notional value of these derivative instruments is equal to the total assets of the VIE.(4)    Includes total assets of $0.7 billion as of both March 31, 2025 and December 31, 2024 related to VIEs in which our interest would no longer absorb significant variability as the guaranteed securities have completely paid off.

Investments in Low Income Housing Tax CreditsWe invest in LIHTC partnerships to support and preserve the supply of affordable housing. These investments do not provide us with a controlling financial interest in the underlying partnerships and we therefore do not consolidate these entities. We have elected to account for these investments using the proportional amortization method when applicable. The carrying amount of our investments in LIHTC partnerships is presented in other assets on our condensed consolidated balance sheets and totaled $4.3 billion as of both March 31, 2025, and December 31, 2024.

Freddie Mac 1Q 2025 Form 10-Q49

Financial Statements                         Notes to the Condensed Consolidated Financial Statements | Note 3

NOTE 3

Mortgage Loans

The table below provides details of the loans on our condensed consolidated balance sheets.Table 3.1 - Mortgage Loans March 31, 2025 December 31, 2024(In millions)Single-FamilyMultifamily TotalSingle-FamilyMultifamily TotalHeld-for-sale UPB$2,544 $12,176 $14,720 $2,984 $13,265 $16,249 Cost basis and fair value adjustments, net(464)149 (