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 2022 Earnings Presentation
14 slides from Freddie Mac's earnings presentation, Feb 22, 2023
Slide 1: Fourth Quarter 2022 Financial Results Supplement
© Freddie Mac Fourth Quarter 2022 Financial Results Supplement February 22, 2023 Exhibit 99.2
Slide 2: Financial Highlights
© Freddie Mac 2 Financial Highlights $5.6 $5.8 $5.4 $5.2 $4.8 $2.7 $3.8 $2.5 $1.3 $1.8 Net revenues Net income 4Q21 1Q22 2Q22 3Q22 4Q22 Net revenues and net income $ Billions ▪ Net income of $1.8 billion for the fourth quarter of 2022, a decrease of 36% year-over-year, primarily driven by lower net
Slide 3: Mortgage Portfolio Balances
© Freddie Mac 3 $3,207 $3,299 $3,343 $3,387 $3,415 $2,792 $2,884 $2,928 $2,971 $2,986 $415 $415 $415 $416 $429 Single-Family mortgage portfolio Multifamily mortgage portfolio 12/31/21 03/31/22 06/30/22 09/30/22 12/31/22 Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 6% YoY increas
Slide 4: Conservatorship Matters
© Freddie Mac 4 $37.0 $107.9 $140.2 Net worth Senior preferred stock liquidation preference Remaining Treasury funding commitment As of December 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 suff
Slide 5: Key Economic Indicators
© Freddie Mac 5 National home prices increased by an average of 4.1% over the past year 3.11% 4.67% 5.70% 6.70% 6.42% 0.05% 0.16% 1.09% 2.47% 4.06% 30-year mortgage rate, based on Primary Mortgage Market Survey (PMMS) SOFR 12/31/21 03/31/22 06/30/22 09/30/22 12/31/22 Key Economic Indicators Quarterl
Slide 6: Single-Family Financial Highlights and Key Metrics
© Freddie Mac 6 $2,792 $2,884 $2,928 $2,971 $2,986 4Q21 1Q22 2Q22 3Q22 4Q22 0.81% 0.73% 0.81% 0.79% 0.94% 0.20% 0.20% 0.19% 0.20% 0.24% 1.12% 0.92% 0.76% 0.67% 0.66% One month past due Two months past due Seriously delinquent 4Q21 1Q22 2Q22 3Q22 4Q22 $271 $207 $138 $121 $75 $111 $93 $86 $98 $63 $160
Slide 7: Single-Family Loan Purchase Credit Characteristics
© Freddie Mac 7 71% 72% 75% 78% 78% 4Q21 1Q22 2Q22 3Q22 4Q22 41% 45% 62% 80% 84% 31% 33% 28% 16% 12%28% 22% 10% 4% 4% Home purchase Cash-out refinance Other refinance 4Q21 1Q22 2Q22 3Q22 4Q22 748 746 744 747 747 4Q21 1Q22 2Q22 3Q22 4Q22 13% 15% 17% 19% 22% 4Q21 1Q22 2Q22 3Q22 4Q22 New business activ
Slide 8: Single-Family Credit Risk Transfer
© Freddie Mac 8 UPB covered by new CRT issuance $ Billions $242 $208 $151 $136 $58 4Q21 1Q22 2Q22 3Q22 4Q22 Mortgage portfolio with credit enhancement UPB in $ Billions $1,491 $1,594 $1,726 $1,803 $1,83253% 55% 59% 61% 61% UPB Percentage 12/31/21 03/31/22 06/30/22 09/30/22 12/31/22 Single-Family Cre
Slide 9: Multifamily Financial Highlights and Key Metrics
© Freddie Mac 9 $25 $15 $15 $14 $29 4Q21 1Q22 2Q22 3Q22 4Q22 0.08% 0.12% 0.25% 0.15% 1.41% 0.92% 0.00% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) ACLI investment bulletin (60+ day) 4Q21 1Q22 2Q22 3Q22 4Q22 Multifamily delinquency rates $415 $415 $415 $416 $429
Slide 10: Multifamily New Business Characteristics
© Freddie Mac 10 Acquisitions of units by area median income (AMI) (% of eligible units acquired) 25% 53% 53% 44% 34% 32% 28% 27% 31% 33% 34% 16% 17% 21% 28% 9% 3% 3% 4% 5% ≤60% >60% to ≤80% >80% to ≤120% >120% 4Q21 1Q22 2Q22 3Q22 4Q22 1.33 1.33 1.33 1.31 1.25 67% 67% 63% 59% 58% Weighted average OD
Slide 11: Multifamily Credit Risk Transfer
© Freddie Mac 11 $389 $389 $397 $394 $398 94% 94% 96% 95% 93% UPB Percentage 12/31/21 03/31/22 06/30/22 09/30/22 12/31/22 Mortgage portfolio with credit enhancement UPB in $ Billions $23 $14 $21 $11 $16 4Q21 1Q22 2Q22 3Q22 4Q22 Multifamily Credit Risk Transfer UPB covered by new CRT issuance $ Billi
Slide 12: Housing Market Support
© Freddie Mac 12 62 49 37 28 22 17 10 8 6 6 39 23 16 12 10 6 16 13 10 6 Forbearance and other Payment deferral plans Loan modifications 4Q21 1Q22 2Q22 3Q22 4Q22 Number of families Freddie Mac helped to own or rent a home4 In Thousands Housing Market Support 1,178 834 616 542 504 598 412 205 95 52 35
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