Freddie Mac · OTC:FMCC
Freddie Mac — Federal Home Loan Mortgage Corp (Fmcc, Fmccg, Fmcci, Fmccj, Fmccl, Fmccn, Fmcco, Fmccs, Fmcct, Fmcki, Fmckl, Fmckn, Frejn, Frejo) — Q3 2022 Earnings Presentation
14 slides from Freddie Mac's earnings presentation, Nov 8, 2022
Slide 1: Third Quarter 2022 Financial Results Supplement
© Freddie Mac Third Quarter 2022 Financial Results Supplement November 8, 2022 Exhibit 99.2
Slide 2: Financial Highlights
© Freddie Mac 2 Financial Highlights $5.2 $5.6 $5.8 $5.4 $5.2 $2.9 $2.7 $3.8 $2.5 $1.3 Net revenues Net income 3Q21 4Q21 1Q22 2Q22 3Q22 Net revenues and net income $ Billions ▪ Net income of $1.3 billion for the third quarter of 2022, a decrease of 55% year-over-year, primarily driven by a credit re
Slide 3: Mortgage Portfolio Balances
© Freddie Mac 3 $3,086 $3,207 $3,299 $3,343 $3,387 $2,682 $2,792 $2,884 $2,928 $2,971 $404 $415 $415 $415 $416 Single-Family mortgage portfolio Multifamily mortgage portfolio 09/30/21 12/31/21 03/31/22 06/30/22 09/30/22 Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 10% YoY increa
Slide 4: Conservatorship Matters
© Freddie Mac 4 $35.2 $106.7 $140.2 Net worth Senior preferred stock liquidation preference Remaining Treasury funding commitment As of September 30, 2022 Conservatorship Matters Pursuant to the Purchase Agreement, Freddie Mac will not be required to pay a dividend to Treasury until it has built suf
Slide 5: Key Economic Indicators
© Freddie Mac 5 543,000 637,000 539,000 349,000 372,000 4.7% 3.9% 3.6% 3.6% 3.5% Average monthly net new jobs (non-farm) National unemployment rate (as of the last month in each quarter) 3Q21 4Q21 1Q22 2Q22 3Q22 National home prices increased by an average of 8.9% over the past year Quarterly ending
Slide 6: Single-Family Financial Highlights and Key Metrics
© Freddie Mac 6 $2,682 $2,792 $2,884 $2,928 $2,971 3Q21 4Q21 1Q22 2Q22 3Q22 0.76% 0.81% 0.73% 0.81% 0.79% 0.20% 0.20% 0.20% 0.19% 0.20% 1.46% 1.12% 0.92% 0.76% 0.67% One month past due Two months past due Seriously delinquent 3Q21 4Q21 1Q22 2Q22 3Q22 $299 $271 $207 $138 $121 $132 $111 $93 $86 $98 $1
Slide 7: Single-Family Loan Purchase Credit Characteristics
© Freddie Mac 7 72% 71% 72% 75% 78% 3Q21 4Q21 1Q22 2Q22 3Q22 44% 41% 45% 62% 80% 26% 31% 33% 28% 16%30% 28% 22% 10% 4% Home purchase Cash-out refinance Other refinance 3Q21 4Q21 1Q22 2Q22 3Q22 750 748 746 744 747 3Q21 4Q21 1Q22 2Q22 3Q22 12% 13% 15% 17% 19% 3Q21 4Q21 1Q22 2Q22 3Q22 New business acti
Slide 8: Single-Family Credit Risk Transfer
© Freddie Mac 8 UPB covered by new CRT issuance $ Billions $167 $242 $208 $151 $136 3Q21 4Q21 1Q22 2Q22 3Q22 Mortgage portfolio with credit enhancement UPB in $ Billions $1,345 $1,491 $1,594 $1,726 $1,803 50% 53% 55% 59% 61% UPB Percentage 09/30/21 12/31/21 03/31/22 06/30/22 09/30/22 Single-Family C
Slide 9: Multifamily Financial Highlights and Key Metrics
© Freddie Mac 9 $18 $25 $15 $15 $14 3Q21 4Q21 1Q22 2Q22 3Q22 0.12% 0.13% 0.30% 0.18% 1.30% 0.99% 0.00% 0.00% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) ACLI investment bulletin (60+ day) 3Q21 4Q21 1Q22 2Q22 3Q22 Multifamily market and Freddie Mac delinquency r
Slide 10: Multifamily New Business Characteristics
© Freddie Mac 10 Acquisitions of units by area median income (AMI) (% of eligible units acquired) 36% 25% 53% 53% 44% 32% 32% 28% 27% 31% 26% 34% 16% 17% 21% 6% 9% 3% 3% 4% ≤60% >60% to ≤80% >80% to ≤120% >120% 3Q21 4Q21 1Q22 2Q22 3Q22 1.35 1.33 1.33 1.33 1.31 67% 67% 67% 63% 59% Weighted average OD
Slide 11: Multifamily Credit Risk Transfer
© Freddie Mac 11 $380 $389 $389 $397 $394 94% 94% 94% 96% 95% UPB Percentage 09/30/21 12/31/21 03/31/22 06/30/22 09/30/22 Mortgage portfolio with credit enhancement UPB in $ Billions $18 $23 $14 $21 $11 3Q21 4Q21 1Q22 2Q22 3Q22 Multifamily Credit Risk Transfer UPB covered by new CRT issuance $ Billi
Slide 12: Housing Market Support
© Freddie Mac 12 73 62 49 37 28 22 17 10 8 6 45 39 23 16 12 6 6 16 13 10 Forbearance and other Payment deferral plans Loan modifications 3Q21 4Q21 1Q22 2Q22 3Q22 Number of families Freddie Mac helped to own or rent a home4 In Thousands Housing Market Support 1,188 1,178 834 616 542 612 598 412 205 9
Slide 13: Endnotes
© Freddie Mac 13 Endnotes 1 Based on unpaid principal balances (UPB) of securitized mortgage loans, unsecuritized mortgage loans, and other, which primarily consists of other mortgage-related guarantees. 2 Includes the initial $1 billion liquidation preference of the senior preferred stock issued to
Slide 14: Safe Harbor Statements
© Freddie Mac 14 Safe Harbor Statements Freddie Mac obligations Freddie Mac’s securities are obligations of Freddie Mac only. The securities, including any interest or return of discount on the securities, are not guaranteed by and are not debts or obligations of the United States or any federal age