Company: FMCCN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001026214-25-000116
Chunk: 29

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 15
Chunk 29
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 Multifamily Mortgage Portfolio September 30, 2025December 31, 2024(Dollars in millions)UPBDelinquency RateUPBDelinquency RateCredit-enhanced:Subordination$339,700 0.55 %$352,566 0.45 %MSCR/MCIP82,620 0.32 62,870 0.25 Other9,728 0.51 9,737 0.82 Total credit-enhanced432,048 0.51 425,173 0.43 Non-credit-enhanced47,916 0.51 41,462 0.15 Total$479,964 0.51 $466,635 0.40 

The Multifamily delinquency rate increased to 0.51% at September 30, 2025, primarily driven by an increase in delinquent floating rate loans and small balance loans. As of September 30, 2025, 90% of the delinquent loans in the Multifamily mortgage portfolio have some form of credit enhancement coverage.

The table below contains details on the loans underlying our Multifamily mortgage portfolio that are not credit-enhanced.

Table 24 - Credit Quality of Our Multifamily Mortgage Portfolio Without Credit Enhancement September 30, 2025December 31, 2024(Dollars in millions)UPBDelinquency RateUPBDelinquency RateMortgage loans held-for-sale$241 — %$11,856 — %Mortgage loans held-for-investment:  Held by Freddie Mac27,528 0.25 14,589 0.33   Held by consolidated trusts16,517 1.06 12,125 0.11 Other mortgage-related guarantees3,630 — 2,892 — Total$47,916 0.51 $41,462 0.15 

Credit Enhancement Recoveries 

Our expected recovery receivable from freestanding credit enhancements was $0.1 billion as of both September 30, 2025 and December 31, 2024.

Counterparty Credit Risk

Single-Family Sellers and Servicers

On October 1, 2025, Rocket Companies, Inc., the parent company of Rocket Mortgage LLC, announced that it had completed its acquisition of Mr. Cooper Group Inc. As a result of the