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) — Q1 2022 Earnings Presentation
14 slides from Freddie Mac's earnings presentation, Apr 28, 2022
Slide 1: First Quarter 2022 Financial Results Supplement
© Freddie Mac First Quarter 2022 Financial Results Supplement April 28, 2022 Exhibit 99.2
Slide 2: Financial Highlights
© Freddie Mac 2 Financial Highlights $5.3 $5.9 $5.2 $5.6 $5.8 $2.8 $3.7 $2.9 $2.7 $3.8 Net revenues Net income 1Q21 2Q21 3Q21 4Q21 1Q22 Net revenues and net income $ Billions ▪ Net income of $3.8 billion for the first quarter of 2022, an increase of 37% year-over-year, driven by higher net revenues
Slide 3: Mortgage Portfolio Balances
© Freddie Mac 3 $2,852 $2,962 $3,086 $3,207 $3,299 $2,458 $2,564 $2,682 $2,792 $2,884 $394 $398 $404 $415 $415 Single-Family mortgage portfolio Multifamily mortgage portfolio 03/31/21 06/30/21 09/30/21 12/31/21 03/31/22 Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 16% YoY increa
Slide 4: Conservatorship Matters
© Freddie Mac 4 $31.7 $100.7 $140.2 Net worth Senior preferred stock liquidation preference Remaining Treasury funding commitment As of March 31, 2022 Conservatorship Matters Pursuant to the Purchase Agreement, Freddie Mac will not be required to pay a dividend to Treasury until it has built suffici
Slide 5: Key Economic Indicators
© Freddie Mac 5 645,000 422,000 543,000 637,000 562,000 6.0% 5.9% 4.7% 3.9% 3.6% Average monthly net new jobs (non-farm) National unemployment rate (as of the last month in each quarter) 1Q21 2Q21 3Q21 4Q21 1Q22 National home prices increased by an average of 18.5% over the past year Quarterly endin
Slide 6: Single-Family Financial Highlights and Key Metrics
© Freddie Mac 6 $2,458 $2,564 $2,682 $2,792 $2,884 1Q21 2Q21 3Q21 4Q21 1Q22 0.73% 0.73% 0.76% 0.81% 0.73% 0.27% 0.21% 0.20% 0.20% 0.20% 2.34% 1.86% 1.46% 1.12% 0.92% One month past due Two months past due Seriously delinquent 1Q21 2Q21 3Q21 4Q21 1Q22 $362 $288 $299 $271 $207 $89 $98 $132 $111 $93 $2
Slide 7: Single-Family Loan Purchase Credit Characteristics
© Freddie Mac 7 69% 71% 72% 71% 72% 1Q21 2Q21 3Q21 4Q21 1Q22 25% 34% 44% 41% 45% 20% 23% 26% 31% 33% 55% 43% 30% 28% 22% Home purchase Cash-out refinance Other refinance 1Q21 2Q21 3Q21 4Q21 1Q22 759 754 750 748 746 1Q21 2Q21 3Q21 4Q21 1Q22 10% 11% 12% 13% 15% 1Q21 2Q21 3Q21 4Q21 1Q22 New business ac
Slide 8: Single-Family Credit Risk Transfer
© Freddie Mac 8 UPB covered by new CRT issuance $ Billions $245 $174 $167 $242 $208 1Q21 2Q21 3Q21 4Q21 1Q22 Mortgage portfolio with credit enhancement UPB in $ Billions $1,230 $1,255 $1,345 $1,491 $1,594 50% 49% 50% 53% 55% UPB Percentage 03/31/21 06/30/21 09/30/21 12/31/21 03/31/22 Single-Family C
Slide 9: Multifamily Financial Highlights and Key Metrics
© Freddie Mac 9 $14 $13 $18 $25 $15 1Q21 2Q21 3Q21 4Q21 1Q22 0.17% 0.08% 0.25% 0.25% 1.48% 1.26% 0.08% 0.00% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) ACLI investment bulletin (60+ day) 1Q21 2Q21 3Q21 4Q21 1Q22 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) 43% 43% 36% 25% 40% 34% 34% 32% 32% 32% 20% 20% 26% 34% 23% 3% 3% 6% 9% 5% ≤60% >60% to ≤80% >80% to ≤120% >120% 1Q21 2Q21 3Q21 4Q21 1Q22 1.38 1.38 1.35 1.33 1.33 69% 68% 67% 67% 67% Weighted average OD
Slide 11: Multifamily Credit Risk Transfer
© Freddie Mac 11 $362 $373 $380 $389 $389 92% 94% 94% 94% 94% UPB Percentage 03/31/21 06/30/21 09/30/21 12/31/21 03/31/22 Mortgage portfolio with credit enhancement UPB in $ Billions $26 $17 $18 $23 $14 1Q21 2Q21 3Q21 4Q21 1Q22 Multifamily Credit Risk Transfer UPB covered by new CRT Issuance $ Billi
Slide 12: Housing Market Support
© Freddie Mac 12 38 27 21 16 9 50 55 45 39 23 6 6 7 7 17 Forbearance plans Payment deferral plans Other 1Q21 2Q21 3Q21 4Q21 1Q22 Number of families Freddie Mac helped to own or rent a home4 In Thousands Housing Market Support 1,365 1,160 1,188 1,178 835 940 708 612 598 412 291 315 415 357 279 134 13
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