Company: FMCCN
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001026214-25-000086
Chunk: 119

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 119
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191,526 (4,461)(4.66)180,504 (5,006)(5.54)Total interest-bearing liabilities3,322,702 (53,012)(3.19)3,222,730 (47,762)(2.96)Impact of net non-interest-bearing funding67,676 — 0.06 54,008 — 0.05 Total funding of interest-earning assets3,390,378 (53,012)(3.13)3,276,738 (47,762)(2.91)Net interest income/yield$10,401 0.61 %$9,687 0.59 %

(1)Loan fees included in net interest income were $0.6 billion during both YTD 2025 and YTD 2024.

Freddie Mac 2Q 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 Income ChangeChange(Dollars in millions)2Q 20252Q 2024$%YTD 2025YTD 2024$%Guarantee income$398 $383 $15 4 %$838 $879 ($41)(5)%Investment gains, net119 549 (430)(78)311 954 (643)(67)Other income100 128 (28)(22)218 225 (7)(3)Non-interest income$617 $1,060 ($443)(42)%$1,367 $2,058 ($691)(34)%

Key Drivers: 

n    Guarantee income 

l    YTD 2025 vs. YTD 2024 - Decreased primarily due to less favorable fair value changes from prepayment rates, partially offset by fair value gains attributable to declines in medium-term interest rates during YTD 2025.

n    Investment gains, net 

l    2Q 2025 vs. 2Q 2024 and YTD 2025 vs. YTD 2024 - Decreased primarily due to lower revenues from held-for-sale loan purchase and securitization activities, coupled with impacts from interest-rate risk management activities.

(Provision) Benefit for Credit Losses

The table below presents