Freddie Mac · OTC:FMCC
Freddie Mac — Q2 2025 Earnings Presentation
14 slides from Freddie Mac's earnings presentation, Jul 31, 2025
Slide 1: Second Quarter 2025 Financial Results Supplement
Second Quarter 2025 Financial Results Supplement July 31, 2025 © Freddie Mac
Slide 2: Financial Highlights
Financial Highlights Net revenues and net income $ Billions $6.3 $6.0 $5.8 $5.9 $5.9 $3.1 $3.2 $2.8 $2.8 $2.4 2Q24 3Q24 4Q24 1Q25 2Q25 Net revenues Net income ▪ Net income of $2.4 billion for the second quarter of 2025, down 14% from the second quarter of 2024, primarily driven by an increase in the
Slide 3: Mortgage Portfolio Balances
Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 2% YoY increase $3,506 $3,534 $3,571 $3,582 $3,593 $447 $452 $467 $467 $466 4% YoY increase 2% YoY $3,058 $3,082 $3,104 $3,115 $3,127 increase 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 Single-Family mortgage portfolio Multifamily m
Slide 4: Conservatorship Matters
Conservatorship Matters Net worth, liquidation preference, and Draws and dividend payments Treasury funding commitment $ Billions $ Billions $140.2 $119.7 $135.1 $71.6 $64.8 As of June 30, 2025 As of June 30, 2025 Net worth Cumulative draws from Treasury 2 Senior preferred stock liquidation preferen
Slide 5: Key Economic Indicators
Key Economic Indicators National home prices3 increased by an average of 2% Quarterly ending interest rates over the past year 6.86% 6.85% 6.77% 6.65% 6.08% 5.34% 5.16% 4.53% 4.33% 4.32% 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 30-year mortgage rate, based on Primary Mortgage Market Survey (PMMS
Slide 6: Single-Family Financial Highlights and Key Metrics
Single-Family Financial Highlights and Key Metrics Net revenues and net income New business activity $ Billions UPB in $ Billions Average estimated guarantee fee rate on new acquisitions (bps)4 54 57 55 54 54 $5.1 $5.1 $5.2 $5.1 $4.9 $98 $100 $94 $85 $78 $2.6 $2.6 $14 $26 $18 $2.3 $2.3 $2.1 $11 $16
Slide 7: Single-Family Loan Purchase Credit Characteristics
Single-Family Loan Purchase Credit Characteristics Weighted average original loan-to-value ratio Weighted average original credit score (OLTV) 759 754 755 756 756 78% 77% 77% 77% 77% 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 New business activity with debt-to-income Loan purpose ratio > 45%
Slide 8: Single-Family Credit Risk Transfer
Single-Family Credit Risk Transfer UPB covered by new CRT issuance Mortgage portfolio with credit enhancement $ Billions UPB in $ Billions 62% 62% 62% 62% 62% $1,900 $1,897 $1,914 $1,927 $1,929 $63 $43 $44 $41 $36 2Q24 3Q24 4Q24 1Q25 2Q25 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 UPB Percentage ©
Slide 9: Multifamily Financial Highlights and Key Metrics
Multifamily Financial Highlights and Key Metrics Net revenues and net income New business activity $ Billions UPB in $ Billions $1.1 $30 $0.9 $0.9 $0.8 $0.8 $0.7 $0.5 $0.5 $0.5 $15 $11 $12 $0.3 $10 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q24 4Q24 1Q25 2Q25 Net revenues Net income Mortgage portfolio Multifami
Slide 10: Multifamily New Business Characteristics
Multifamily New Business Characteristics Weighted average original debt service coverage Acquisitions of units by area median income ratio (ODSCR) and weighted average OLTV ratio (AMI) (% of eligible units acquired) 7% 6% 7% 6% 5% 19% 21% 28% 26% 28% 63% 64% 62% 62% 61% 32% 35% 1.28 1.28 1.30 1.30 1
Slide 11: Multifamily Credit Risk Transfer
Multifamily Credit Risk Transfer UPB covered by new CRT issuance Mortgage portfolio with credit enhancement $ Billions UPB in $ Billions 95% 93% 93% 91% 92% $423 $425 $434 $431 $421 $18 $18 $14 $9 $7 2Q24 3Q24 4Q24 1Q25 2Q25 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 UPB Percentage © Freddie Mac 1
Slide 12: Housing Market Support
Housing Market Support Number of families Freddie Mac helped Number of Single-Family loan workouts6 to own or rent a home5 In Thousands In Thousands 539 415 245 349 363 25 24 131 313 92 99 20 7 18 18 89 11 6 6 7 212 11 235 206 212 171 8 8 8 6 82 5 6 7 5 45 49 53 58 4 2Q24 3Q24 4Q24 1Q25 2Q25 2Q24 3Q
Slide 13: Endnotes
Endnotes 1 Based on unpaid principal balances (UPB) of mortgage loans held-for-investment, mortgage loans held-for-sale, and mortgage loans underlying our mortgage-related guarantees. 2 Includes the initial $1 billion liquidation preference of the senior preferred stock issued to Treasury in Septemb
Slide 14: Safe Harbor Statements
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 agency or instrument