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) — Q4 2024 Earnings Presentation
14 slides from Freddie Mac's earnings presentation, Feb 13, 2025
Slide 1: Fourth Quarter 2024 Financial Results Supplement
© Freddie Mac Fourth Quarter 2024 Financial Results Supplement February 13, 2025 Exhibit 99.2
Slide 2: Financial Highlights
© Freddie Mac 2 Financial Highlights $5.4 $5.8 $6.0 $5.8 $6.3 $2.9 $2.8 $2.8 $3.1 $3.2 Net revenues Net income 4Q23 1Q24 2Q24 3Q24 4Q24 Net revenues and net income $ Billions ▪ Net income of $3.2 billion for the fourth quarter of 2024, an increase of 11% year-over-year, primarily driven by higher ne
Slide 3: Mortgage Portfolio Balances
© Freddie Mac 3 $3,480 $3,486 $3,506 $3,534 $3,571 $3,039 $3,043 $3,058 $3,082 $3,104 $441 $443 $447 $452 $467 Single-Family mortgage portfolio Multifamily mortgage portfolio 12/31/23 03/31/24 06/30/24 09/30/24 12/31/24 Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 3% YoY increas
Slide 4: Conservatorship Matters
© Freddie Mac 4 $59.6 $129.0 $140.2 Net worth Senior preferred stock liquidation preference Remaining Treasury funding commitment As of December 31, 2024 Conservatorship Matters Pursuant to the Purchase Agreement, Freddie Mac will not be required to pay a dividend to Treasury until it has built suff
Slide 5: Key Economic Indicators
© Freddie Mac 5 National home prices3 increased by an average of 4.0% over the past year 6.61% 6.79% 6.86% 6.08% 6.85% 5.34% 5.32% 5.34% 5.16% 4.53% 30-year mortgage rate, based on Primary Mortgage Market Survey (PMMS) SOFR 12/31/23 03/31/24 06/30/24 09/30/24 12/31/24 Key Economic Indicators Quarter
Slide 6: Single-Family Financial Highlights and Key Metrics
© Freddie Mac 6 $3,039 $3,043 $3,058 $3,082 $3,104 4Q23 1Q24 2Q24 3Q24 4Q24 1.10% 0.96% 1.12% 1.05% 1.10% 0.27% 0.24% 0.25% 0.27% 0.31% 0.55% 0.52% 0.50% 0.54% 0.59% One month past due Two months past due Seriously delinquent 4Q23 1Q24 2Q24 3Q24 4Q24 $73 $62 $85 $98 $100 $65 $53 $74 $84 $74 $8 $9 $1
Slide 7: Single-Family Loan Purchase Credit Characteristics
© Freddie Mac 7 Loan purpose 77% 78% 78% 77% 77% 4Q23 1Q24 2Q24 3Q24 4Q24 89% 86% 87% 86% 74% 8% 8% 8% 8% 9% 6% 5% 6% 17% Home purchase Cash-out refinance Other refinance 4Q23 1Q24 2Q24 3Q24 4Q24 752 753 754 755 756 4Q23 1Q24 2Q24 3Q24 4Q24 31% 28% 31% 29% 28% 4Q23 1Q24 2Q24 3Q24 4Q24 New business a
Slide 8: Single-Family Credit Risk Transfer
© Freddie Mac 8 UPB covered by new CRT issuance $ Billions $36 $58 $43 $44 $36 4Q23 1Q24 2Q24 3Q24 4Q24 Mortgage portfolio with credit enhancement UPB in $ Billions Single-Family Credit Risk Transfer $1,860 $1,867 $1,900 $1,897 $1,914 61% 61% 62% 62% 62% UPB Percentage 12/31/23 03/31/24 06/30/24 09/
Slide 9: Multifamily Financial Highlights and Key Metrics
© Freddie Mac 9 0.28% 0.40% 0.32% 0.74% 0.57% 1.61% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) 4Q23 1Q24 2Q24 3Q24 4Q24 $16 $9 $11 $15 $30 4Q23 1Q24 2Q24 3Q24 4Q24 Multifamily delinquency rates $441 $443 $447 $452 $467 4Q23 1Q24 2Q24 3Q24 4Q24 Multifamily Fina
Slide 10: Multifamily New Business Characteristics
© Freddie Mac 10 Acquisitions of units by area median income (AMI) (% of eligible units acquired) 38% 35% 32% 39% 28% 29% 28% 33% 29% 37% 27% 28% 28% 26% 28% 6% 9% 7% 6% 7% ≤60% >60% to ≤80% >80% to ≤120% >120% 4Q23 1Q24 2Q24 3Q24 4Q24 1.27 1.29 1.28 1.28 1.30 59% 61% 61% 63% 64% Weighted average OD
Slide 11: Multifamily Credit Risk Transfer
© Freddie Mac 11 $415 $415 $423 $421 $425 94% 94% 95% 93% 91% UPB Percentage 12/31/23 03/31/24 06/30/24 09/30/24 12/31/24 Mortgage portfolio with credit enhancement UPB in $ Billions $11 $7 $14 $7 $18 4Q23 1Q24 2Q24 3Q24 4Q24 Multifamily Credit Risk Transfer UPB covered by new CRT issuance $ Billion
Slide 12: Housing Market Support
© Freddie Mac 12 19 21 18 18 20 6 5 4 5 6 8 10 8 6 8 5 6 6 7 6 Forbearance plans and other Payment deferral plans Loan modifications 4Q23 1Q24 2Q24 3Q24 4Q24 Number of families Freddie Mac helped to own or rent a home5 In Thousands Housing Market Support 391 279 349 415 539 37 33 45 49 82 199 161 21
Slide 13: Endnotes
© Freddie Mac 13 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 Tr
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