Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 79

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 79
---
curitized loans, securitizations, and other mortgage-related guarantees, in the form of collateral posting requirements, pool insurance, bond insurance, loss sharing agreements, and other similar arrangements. These credit enhancements, along with the proceeds received from the sale of the underlying mortgage collateral, are designed to enable us to recover all or a portion of our losses on our mortgage loans or the amounts paid under our financial guarantee contracts. Our historical losses paid under our guarantee contracts and related recoveries pursuant to these agreements have not been significant. 

FREDDIE MAC  |  2024 Form 10-K67

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 36 - Credit Quality of Our Multifamily Mortgage Portfolio Without Credit EnhancementDecember 31,20242023(Dollars in millions)UPBDelinquency RateUPBDelinquency RateMortgage loans held-for-sale$11,856 — %$8,823 — %Mortgage loans held-for-investment:  Held by Freddie Mac14,589 0.33 9,941 1.21   Held by consolidated trusts12,125 0.11 4,851 0.27 Other mortgage-related guarantees2,892 — 2,383 — Total$41,462 0.15 $25,998 0.51 

Credit Enhancement Recoveries 

Our expected recovery receivable from freestanding credit enhancements was $0.1 billion as of both December 31, 2024 and December 31, 2023. These amounts are included in other assets on our consolidated balance sheets. See Note 3 and Note 6 for additional information on accounting for credit enhancements.

Managing Our Portfolio, Including Loss Mitigation Activities

To help mitigate our potential losses, we generally require sellers to act as the primary servicer for loans they have sold to us, including property monitoring tasks beyond those typically performed by single-family servicers. We typically transfer the role of master servicer in our K Certificate transactions to third parties. Servicers for unsecuritized loans over $250,000 must generally provide us with an assessment of the mortgaged property's financial condition at least annually. We use this assessment and other information to evaluate the credit quality of our mortgage portfolio and to identify potential problem loans. In situations where a borrower or property is in distress,