Freddie Mac Reports Net Income of $3.7 Billion and

Comprehensive Income of $3.6 Billion for Second Quarter 2021

Providing Stability to the Housing Market While Serving Freddie Mac's Affordable Housing Mission

• Continued to provide mortgage-relief options for borrowers affected by the COVID-19 pandemic, including 

forbearance programs for both single-family and multifamily borrowers.

• Extended moratoriums on foreclosures and evictions through July 31, 2021.

Second Quarter 2021 Financial Results

Market Liquidity 

Provided -

$306 Billion

Homes and Rental Units 

Financed -

1.2 Million

Net Worth -

$22.4 Billion

Total Mortgage

 Portfolio -

$3.0 Trillion

Consolidated • Net income increased $1.9 billion year-over-year, driven by 

higher net revenues and a credit reserve release

• Net revenues increased $1.7 billion year-over-year, driven by 

mortgage portfolio growth, higher average guarantee fee 

rates, and higher deferred fee income recognition 

• Benefit for credit losses of $0.7 billion, driven by a credit 

reserve release due to realized house price appreciation and 

improving economic conditions

• New business activity of $288 billion, up 24% year-overyear, reflecting strong home purchase and refinance activity

• Mortgage portfolio of $2,564 billion, up 24% year-over-year, 

driven by strong new business activity

• Serious delinquency rate of 1.86%, down from 2.34% at 

March 31, 2021 and 2.48% at June 30, 2020, driven by a 

decline in loans in forbearance

• Completed approximately 88,000 loan workouts

• 49% of mortgage portfolio covered by credit enhancements

• New business activity of $13 billion, down 35% year-overyear, driven by increased competition and a reduced loan 

purchase cap. Year-to-date activity of $27 billion, down 10%

year-over-year

• Mortgage portfolio of $398 billion, up 12% year-over-year, 

driven by ongoing loan purchase and securitization activity

• Delinquency rate, which does not include loans in 

forbearance, of 0.15%, down from 0.17% at March 31, 2021, 

and up from 0.10% at June 30, 2020 

• 94% of mortgage portfolio covered by credit enhancements

“In the second quarter, 

we provided critical 

support for the housing 

market, delivered a 

strong financial 

performance, and 

continued to manage our 

risks well. I’m very proud 

that during the quarter, 

we continued to advance 

our mission by providing 

liquidity, stability, and 

affordability to the market 

and by helping families 

keep their homes during 

the pandemic.”

Michael J. DeVito

Chief Executive Officer

Net Revenues 

$5.9 Billion

Net Income

$3.7 Billion

Comprehensive 

Income 

$3.6 Billion

Single-Family

Net Revenues 

$4.7 Billion

Net Income 

$2.9 Billion

Comprehensive 

Income

$2.8 Billion

Multifamily

Net Revenues 

$1.2 Billion

Net Income 

$0.8 Billion

Comprehensive 

Income

$0.8 Billion
McLean, VA — Freddie Mac (OTCQB: FMCC) today reported net income of $3.7 billion for the second quarter of 

2021, an increase of 107% year-over-year, primarily driven by higher net revenues and a credit reserve release, 

primarily in the Single-Family segment. The company also reported comprehensive income of $3.6 billion for the 

second quarter of 2021, an increase of 86% year-over-year.

Net revenues increased 41% year-over-year to $5.9 billion, primarily driven by higher net interest income. Net 

interest income increased 66% year-over-year to $4.8 billion, primarily driven by continued growth in the SingleFamily mortgage portfolio, higher average guarantee fee rates on the Single-Family mortgage portfolio, and higher 

deferred fee income recognition.

Credit-related income was $0.2 billion for the second quarter of 2021, compared to credit-related expense of 

$0.7 billion for the second quarter of 2020, driven by a reserve release due to realized house price appreciation 

and improving economic conditions. Credit-related expense in the second quarter of 2020 was primarily driven by 

the negative economic effects of the COVID-19 pandemic.

Summary of Condensed Consolidated Statements of Comprehensive Income (Loss)

(Dollars in millions) 2Q 2021 1Q 2021 Change 2Q 2020 Change

Net interest income $4,767 $3,639 $1,128 $2,876 $1,891

Guarantee income 356 248 108 469 (113)

Investment gains (losses), net 636 1,208 (572) 670 (34)

Other income (loss) 107 178 (71) 134 (27)

Net revenues 5,866 5,273 593 4,149 1,717

Benefit (provision) for credit losses 740 196 544 (705) 1,445

Credit enhancement expense (369) (335) (34) (233) (136)

Benefit for (decrease in) credit enhancement 

recoveries (193) (257) 64 221 (414)

Real estate owned (REO) operations expense (7) (8) 1 (14) 7

Credit-related income (expense) 171 (404) 575 (731) 902

Administrative expense (651) (639) (12) (601) (50)

Temporary Payroll Tax Cut Continuation Act of 

2011 expense (570) (534) (36) (442) (128)

Other expense (179) (215) 36 (140) (39)

Operating expense (1,400) (1,388) (12) (1,183) (217)

Income (loss) before income tax (expense) 

benefit 4,637 3,481 1,156 2,235 2,402

Income tax (expense) benefit (958) (714) (244) (458) (500)

Net income (loss) 3,679 2,767 912 1,777 1,902

Total other comprehensive income (loss), net of 

taxes and reclassification adjustments (68) (389) 321 161 (229)

Comprehensive income (loss) $3,611 $2,378 $1,233 $1,938 $1,673

Conservatorship metrics (in billions)

Net worth $22.4 $18.8 $3.6 $11.4 $11.0

Senior preferred stock liquidation preference 91.4 89.1 2.4 82.2 9.2

Remaining Treasury funding commitment 140.2 140.2 — 140.2 —

Cumulative dividend payments to Treasury 119.7 119.7 — 119.7 —

Cumulative draws from Treasury 71.6 71.6 — 71.6 —

Totals may not add due to rounding.

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 2 
Single-Family Segment

Financial Results

Net Revenues

(In millions)

$2,667

$3,419 $3,409

$3,849

$4,715

2Q20 3Q20 4Q20 1Q21 2Q21

Net Income

(In millions)

$772

$1,282

$1,747 $1,738

$2,855

2Q20 3Q20 4Q20 1Q21 2Q21

Comprehensive Income

(In millions)

$875

$1,272 $1,373 $1,410

$2,781

2Q20 3Q20 4Q20 1Q21 2Q21

 

(Dollars in millions) 2Q 2021 1Q 2021 Change 2Q 2020 Change

Net interest income $4,460 $3,308 $1,152 $2,590 $1,870

Non-interest income 255 541 (286) 77 178

Net revenues 4,715 3,849 866 2,667 2,048

Credit-related income (expense) 128 (432) 560 (647) 775

Operating expense (1,245) (1,231) (14) (1,050) (195)

Income (loss) before income tax (expense) benefit 3,598 2,186 1,412 970 2,628

Income tax (expense) benefit (743) (448) (295) (198) (545)

Net income (loss) 2,855 1,738 1,117 772 2,083

Total other comprehensive income (loss), net of taxes 

and reclassification adjustments (74) (328) 254 103 (177) 

Comprehensive income (loss) $2,781 $1,410 $1,371 $875 $1,906

Key Drivers

Net income and comprehensive income increased year-over-year, mainly driven by:

• Higher net interest income primarily due to continued mortgage portfolio growth, higher average guarantee fee 

rates, and higher deferred fee income recognition.

• Credit-related income in the second quarter of 2021 compared to credit-related expense in the second quarter 

of 2020, primarily driven by a benefit for credit losses as a result of a credit reserve release due to realized 

house price appreciation and improving economic conditions. This was partially offset by a decrease in credit 

enhancement recoveries. Credit-related expense in the second quarter of 2020 was primarily driven by the 

negative economic effects of the COVID-19 pandemic.

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 3 
Single-Family Segment

Business Results

New Business Activity

(UPB in billions)

$232

$337

$383 $362

$288

$60

$101 $109 $89 $98

$172

$236 $274 $273 $190

Home purchase Refinance

2Q20 3Q20 4Q20 1Q21 2Q21

Mortgage Portfolio

(UPB in billions)

$2,061

$2,179

$2,326

$2,458

$2,564

2Q20 3Q20 4Q20 1Q21 2Q21

Serious Delinquency Rate

2.48%

3.04%

2.64%

2.34%

1.86%

2Q20 3Q20 4Q20 1Q21 2Q21

2Q 2021 1Q 2021 Change 2Q 2020 Change

New Business Statistics:

Average guarantee fee rate charged (bps) 49 50 (1) 48 1

Weighted average original loan-to-value (LTV) (%) 71 69 2 72 (1) 

Weighted average original credit score 754 759 (5) 758 (4)

First-time homebuyers (% of home purchase loans) 47 46 1 48 (1) 

Single-Family homes funded (in thousands) 1,023 1,231 (208) 827 196

Purchase borrowers (in thousands) 315 291 24 218 97

Refinance borrowers (in thousands) 708 940 (232) 609 99

UPB covered by new CRT issuance (in billions) $174 $245 $(71) $1 $173

Portfolio Statistics:

Average guarantee fee rate charged (bps) 46 45 1 42 4

Weighted average current LTV (%) 56 58 (2) 59 (3) 

Weighted average current credit score 756 754 2 751 5

Loan count (in millions) 12.5 12.3 0.2 11.4 1.1

Credit-Related Statistics:

Loan workout activity (in thousands) 88 94 (6) 89 (1)

Loans in forbearance, based on loan count (%) 1.67 2.19 (0.52) 3.75 (2.08) 

Current (%) 0.26 0.32 (0.06) N/A N/A

Past due (%) 1.41 1.87 (0.46) 3.75 (2.34) 

Credit enhancement coverage (%) 49 50 (1) 52 (3) 

Business Highlights

• The company provided funding for approximately 1.0 million single-family homes, more than 708,000 of which 

were refinance loans. First-time homebuyers represented 47% of new single-family purchase loans.

• Single-Family loan workout activity decreased to 88,000, from 89,000 in the second quarter of 2020.

• 1.67% of loans in the Single-Family mortgage portfolio, based on loan count, were in forbearance as of June 

30, 2021.

• Credit enhancement coverage of the Single-Family mortgage portfolio decreased to 49%, from 52% in the 

second quarter of 2020, primarily due to a higher proportion of recently acquired loans with lower LTV ratios 

and the high volume of new business activity which has not been included in credit risk transfer (CRT) 

transactions, but may be included in future periods.

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 4 
Multifamily Segment

Financial Results

Net Revenues

(In millions)

$1,482

$1,647 $1,613

$1,424

$1,151

2Q20 3Q20 4Q20 1Q21 2Q21

Net Income

(In millions)

$1,005

$1,181 $1,166 $1,029

$824

2Q20 3Q20 4Q20 1Q21 2Q21

Comprehensive Income

(In millions)

$1,063 $1,177 $1,149

$968 $830

2Q20 3Q20 4Q20 1Q21 2Q21

 

(Dollars in millions) 2Q 2021 1Q 2021 Change 2Q 2020 Change

Net interest income $307 $331 $(24) $286 $21

Guarantee income 346 159 187 414 (68)

Investment gains (losses), net 499 908 (409) 731 (232)

Other income (loss) (1) 26 (27) 51 (52)

Net revenues 1,151 1,424 (273) 1,482 (331)

Credit-related income (expense) 43 28 15 (84) 127

Operating expense (155) (157) 2 (133) (22)

Income (loss) before income tax (expense) benefit 1,039 1,295 (256) 1,265 (226)

Income tax (expense) benefit (215) (266) 51 (260) 45

Net income (loss) 824 1,029 (205) 1,005 (181)

Total other comprehensive income (loss), net of taxes 

and reclassification adjustments 6 (61) 67 58 (52)

Comprehensive income (loss) $830 $968 $(138) $1,063 $(233)

Key Drivers

• Net income and comprehensive income decreased year-over-year, mainly driven by lower net investment 

gains primarily due to less K Certificate spread tightening, lower net impacts from index lock activity, and a 

smaller volume of fixed-rate held-for-sale loan commitments, partially offset by higher floating-rate loan 

securitization volume.

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 5 
Multifamily Segment

Business Results

New Business Activity

(UPB in billions)

$20

$18

$35

$14 $13

2Q20 3Q20 4Q20 1Q21 2Q21

Mortgage Portfolio 

(UPB in billions)

$354 $366 $388 $394 $398

2Q20 3Q20 4Q20 1Q21 2Q21

Delinquency Rate

0.10% 0.13% 0.16% 0.17% 0.15%

2Q20 3Q20 4Q20 1Q21 2Q21

2Q 2021 1Q 2021 Change 2Q 2020 Change

New Business Statistics:

Weighted average original LTV (%) 68 69 (1) 69 (1) 

Weighted average original debt service coverage ratio 1.38 1.38 — 1.36 0.02

Number of rental units financed (in thousands) 137 134 3 201 (64)

Affordable ≤ 80% of AMI (% of eligible units acquired) 77 77 — 71 6 

Affordable ≤ 120% of AMI (% of eligible units acquired) 97 97 — 95 2 

Guarantee Activity Statistics:

Average guarantee fee rate charged (bps) 54 49 5 58 (4)

Guaranteed UPB (in billions) $18 $21 $(3) $12 $6

Portfolio Statistics:

Average guarantee fee rate charged (bps) 41 41 — 37 4

Loan count (in thousands) 30 30 — 28 2

Unit count (in thousands) 4,627 4,613 14 4,371 256

Credit-Related Statistics:

Loans in forbearance, based on UPB (%) 1.28 1.88 (0.60) 2.41 (1.13) 

Loans in forbearance period (%) 0.02 0.06 (0.04) 2.41 (2.39) 

Loans in repayment period (%) 1.26 1.82 (0.56) — 1.26 

Credit enhancement coverage (%) 94 92 2 89 5 

Business Highlights

• The company provided financing for more than 137,000 multifamily rental units. 77% of the eligible multifamily 

rental units financed were affordable to families earning at or below 80% of area median income (AMI).

• As of June 30, 2021, 1.28% of the loans in the Multifamily mortgage portfolio, based on UPB, were in a 

forbearance program, and approximately 99% of these loans were in the repayment period. Approximately 

82% of the total loans in a Multifamily forbearance program were included in securitizations with credit 

enhancement provided by subordination.

• Credit enhancement coverage of the Multifamily mortgage portfolio increased to 94% from 89% in the second 

quarter of 2020.

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 6 
 About Freddie Mac’s Conservatorship 

Since September 2008, Freddie Mac has been operating under conservatorship with FHFA as Conservator. The 

support provided by Treasury pursuant to the Purchase Agreement enables the company to maintain access to 

the debt markets and have adequate liquidity to conduct its normal business operations. The amount of funding 

available to Freddie Mac under the Purchase Agreement was $140.2 billion at June 30, 2021. 

Due to changes to the terms of the senior preferred stock pursuant to the January 2021 Letter Agreement, the 

company will not be required to pay a dividend to Treasury until it has built sufficient capital to meet the capital 

requirements and buffers set forth in the Enterprise Regulatory Capital Framework (ERCF). As a result, the 

company was not required to pay a dividend to Treasury on the senior preferred stock in June 2021. As the 

company builds capital during this period, the quarterly increases in its Net Worth Amount have been, or will be, 

added to the aggregate liquidation preference of the senior preferred stock. The liquidation preference of the 

senior preferred stock increased to $91.4 billion on June 30, 2021 based on the $2.4 billion increase in the Net 

Worth Amount during the first quarter of 2021, and will increase to $95.0 billion on September 30, 2021 based on 

the $3.6 billion increase in the Net Worth Amount during the second quarter of 2021.

On June 23, 2021, the U.S. Supreme Court decided in Collins v. Yellen that the “for cause” removal provision for 

the director of FHFA in the Housing and Economic Recovery Act was unconstitutional. As a result, the President 

has the power to remove the FHFA Director at will. In this decision, the U.S. Supreme Court also noted that “the 

Recovery Act authorizes the agency to act in what it determines is ‘in the best interests of the regulated entity or 

the Agency,’" further providing that “when the FHFA acts as a conservator, it may aim to rehabilitate the regulated 

entity in a way that, while not in the best interests of the regulated entity, is beneficial to the Agency and, by 

extension, the public it serves.” 

For additional information on the company's conservatorship, Purchase Agreement, January 2021 Letter 

Agreement, senior preferred stock, ERCF, regulation and supervision, and the Collins case, see the company's 

Quarterly Report on Form 10-Q for the quarter ended June 30, 2021.

Additional Information

For more information, including information related to Freddie Mac’s financial results, conservatorship, and related 

matters, see the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 and the 

company’s Second Quarter 2021 Financial Results Supplement. These documents are available on the Investor 

Relations page of the company’s website at www.FreddieMac.com.

Additional information about Freddie Mac and its business is also set forth in the company’s other filings with the 

SEC, which are available on the Investor Relations page of the company’s website at www.FreddieMac.com and 

the SEC’s website at www.sec.gov. Freddie Mac encourages all investors and interested members of the public to 

review these materials for a more complete understanding of the company’s financial results and related 

disclosures.

Webcast Announcement

Management will host a conference call at 9 a.m. Eastern Time on July 29, 2021 to share the company’s results 

with the media. The conference call will be concurrently webcast. To access the audio webcast, use the following 

link: https://edge.media-server.com/mmc/p/zz8gh5fd. The replay will be available on the company’s website at 

www.FreddieMac.com for approximately 30 days. All materials related to the call will be available on the Investor 

Relations page of the company’s website at www.FreddieMac.com.

Media Contact: Frederick Solomon (703) 903-3861 Investor Contact: Laurie Garthune (571) 382-4732 

* * * *

This press release contains forward-looking statements, which may include statements pertaining to the 

conservatorship, the company’s current expectations and objectives for its Single-Family and Multifamily 

segments, its efforts to assist the housing market, liquidity and capital management, economic and market 

conditions and trends, the effects of the COVID-19 pandemic and actions taken in response thereto on its 

business, financial condition, and liquidity, its market share, the effect of legislative and regulatory developments 

and new accounting guidance, credit quality of loans the company owns or guarantees, the costs and benefits of 

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 7 
the company’s CRT transactions, and results of operations and financial condition. Forward-looking statements 

involve known and unknown risks and uncertainties, some of which are beyond the company’s control. 

Management’s expectations for the company’s future necessarily involve a number of assumptions, judgments, 

and estimates, and various factors, including changes in market conditions, liquidity, mortgage spreads, credit 

outlook, uncertainty about the duration, severity, and effects of the COVID-19 pandemic and actions taken in 

response thereto, actions by the U.S. government (including FHFA, Treasury, and Congress) and state and local 

governments, and the impacts of legislation or regulations and new or amended accounting guidance, could cause 

actual results to differ materially from these expectations. These assumptions, judgments, estimates, and factors 

are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly 

Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, and Current Reports on Form 8-

K, which are available on the Investor Relations page of the company’s website at www.FreddieMac.com and the 

SEC’s website at www.sec.gov. The company undertakes no obligation to update forward-looking statements it 

makes to reflect events or circumstances occurring after the date of this press release.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. 

Since its creation by Congress in 1970, the company has made housing more accessible and affordable for 

homebuyers and renters in communities nationwide. The company is building a better housing finance system for 

homebuyers, renters, lenders, and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie 

Mac’s blog FreddieMac.com/blog.

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 8 
FREDDIE MAC

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)

(In millions, except share-related amounts) 2Q 2021 1Q 2021 2Q 2020

Net interest income

Interest income $15,230 $13,902 $15,716

Interest expense (10,463) (10,263) (12,840) 

Net interest income 4,767 3,639 2,876 

Non-interest income (loss)

Guarantee income 356 248 469 

Investment gains (losses), net 636 1,208 670 

Other income (loss) 107 178 134 

Non-interest income (loss) 1,099 1,634 1,273 

Net revenues 5,866 5,273 4,149 

Benefit (provision) for credit losses 740 196 (705) 

Non-interest expense

Salaries and employee benefits (346) (344) (327) 

Professional services (97) (87) (88) 

Other administrative expense (208) (208) (186) 

Total administrative expense (651) (639) (601) 

Credit enhancement expense (369) (335) (233) 

Benefit for (decrease in) credit enhancement recoveries (193) (257) 221 

REO operations expense (7) (8) (14) 

Temporary Payroll Tax Cut Continuation Act of 2011 expense (570) (534) (442) 

Other expense (179) (215) (140) 

Non-interest expense (1,969) (1,988) (1,209) 

Income (loss) before income tax (expense) benefit 4,637 3,481 2,235 

Income tax (expense) benefit (958) (714) (458) 

Net income (loss) 3,679 2,767 1,777 

Other comprehensive income (loss), net of taxes and reclassification 

adjustments

Changes in unrealized gains (losses) related to available-for-sale securities (73) (395) 154 

Changes in unrealized gains (losses) related to cash flow hedge relationships 8 10 11 

Changes in defined benefit plans (3) (4) (4) 

Total other comprehensive income (loss), net of taxes and reclassification 

adjustments (68) (389) 161 

Comprehensive income (loss) $3,611 $2,378 $1,938

Net income (loss) $3,679 $2,767 $1,777

Future increase in senior preferred stock liquidation preference (3,611) (2,378) (1,938)

Net income (loss) attributable to common stockholders $68 $389 $(161)

Net income (loss) per common share — basic and diluted $0.02 $0.12 $(0.05)

Weighted average common shares outstanding (in millions) — basic and diluted 3,234 3,234 3,234 

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 9 
FREDDIE MAC 

Condensed Consolidated Balance Sheets (Unaudited)

June 30, December 31,

(In millions, except share-related amounts) 2021 2020

Assets

Cash and cash equivalents (includes $3,954 and $17,379 of restricted cash and cash 

equivalents) $11,171 $23,889

Securities purchased under agreements to resell 113,697 105,003 

Investment securities, at fair value 59,558 59,825 

Mortgage loans held-for-sale (includes $6,811 and $14,199 at fair value) 17,508 33,652 

Mortgage loans held-for-investment (net of allowance for credit losses of $4,648 and $5,732) 2,590,715 2,350,236 

Accrued interest receivable (net of allowance of $168 and $140) 7,637 7,754 

Derivative assets, net 756 1,205 

Deferred tax assets, net 6,494 6,557 

Other assets (includes $6,080 and $5,775 at fair value) 34,606 39,294 

Total assets $2,842,142 $2,627,415

Liabilities and equity

Liabilities

Accrued interest payable $6,122 $6,210

Debt (includes $2,073 and $2,592 at fair value) 2,802,755 2,592,546 

Derivative liabilities, net 507 954 

Other liabilities 10,356 11,292 

Total liabilities 2,819,740 2,611,002 

Commitments and contingencies

Equity

Senior preferred stock (liquidation preference of $91,439 and $86,539) 72,648 72,648 

Preferred stock, at redemption value 14,109 14,109 

Common stock, $0.00 par value, 4,000,000,000 shares authorized, 725,863,886 shares 

issued and 650,059,553 shares and 650,059,292 shares outstanding — — 

Additional paid-in capital — — 

Retained earnings (accumulated deficit) (60,656) (67,102) 

AOCI, net of taxes, related to:

Available-for-sale securities 342 810 

Cash flow hedge relationships (188) (206) 

Defined benefit plans 32 39 

Total AOCI, net of taxes 186 643 

Treasury stock, at cost, 75,804,333 shares and 75,804,594 shares (3,885) (3,885) 

Total equity 22,402 16,413 

Total liabilities and equity $2,842,142 $2,627,415

The table below presents the carrying value and classification of the assets and liabilities of consolidated variable interest entities (VIEs) on the 

company's condensed consolidated balance sheets.

June 30, December 31,

(In millions) 2021 2020

Condensed Consolidated Balance Sheet Line Item

Assets:

Mortgage loans held-for-investment $2,543,467 $2,273,347

All other assets 67,620 83,982 

Total assets of consolidated VIEs $2,611,087 $2,357,329

Liabilities:

Debt $2,575,653 $2,308,176

All other liabilities 5,631 5,610 

Total liabilities of consolidated VIEs $2,581,284 $2,313,786

Freddie Mac Second Quarter 2021 Financial Results 

July 29, 2021 

Page 10