Company: FMCCN
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001026214-25-000086
Chunk: 120

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 120
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 the components of provision for credit losses.

Table 5 - (Provision) Benefit for Credit Losses ChangeChange(Dollars in millions)2Q 20252Q 2024$%YTD 2025YTD 2024$%Single-Family($622)($315)($307)(97)%($850)($435)($415)(95)%Multifamily(161)(79)(82)(104)(213)(140)(73)(52)(Provision) benefit for credit losses($783)($394)($389)(99)%($1,063)($575)($488)(85)%

Key Drivers: 

n    2Q 2025 vs. 2Q 2024 - The provision for credit losses for 2Q 2025 was primarily driven by a credit reserve build in Single-Family attributable to lower estimated market values of single-family properties based on our internal house price index and lower forecasted house price growth rates. The provision for credit losses for 2Q 2024 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions.

n    YTD 2025 vs. YTD 2024 - The provision for credit losses for YTD 2025 was primarily driven by a credit reserve build in Single-Family attributable to lower estimated market values of single-family properties based on our internal house price index and lower forecasted house price growth rates. The provision for credit losses for YTD 2024 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions and increasing mortgage rates.

Freddie Mac 2Q 2025 Form 10-Q8

Management's Discussion and AnalysisConsolidated Results of Operations

Non-Interest Expense 

The table below presents the components of non-interest expense.

Table 6 - Components of Non-Interest Expense ChangeChange(Dollars in millions)2Q 20252Q 2024$%YTD 2025YTD 2024$%Salaries and employee benefits($453)($420)($33)(8)%($876)($841)($35)(4)%Professional services, technology, and occupancy(295)(269)(26)(10)(548)(540)(8)(1)Credit enhancement expense(511)(588)77 13 (1,051)(1,185)134 11 Legislative and regulatory assessments:Legislated guarantee fees expense(746)(728)(18)(2)(1,490)(