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 2025 Earnings Presentation
14 slides from Freddie Mac's earnings presentation, Oct 30, 2025
Slide 1: Third Quarter 2025 Financial Results Supplement
© Freddie Mac Third Quarter 2025 Financial Results Supplement October 30, 2025 Exhibit 99.2
Slide 2: Financial Highlights
© Freddie Mac 2 Financial Highlights $5.8 $6.3 $5.9 $5.9 $5.7 $3.1 $3.2 $2.8 $2.4 $2.8 Net revenues Net income 3Q24 4Q24 1Q25 2Q25 3Q25 Net revenues and net income $ Billions ▪ Net income of $2.8 billion for the third quarter of 2025, down 11% from the third quarter of 2024, primarily driven by a cr
Slide 3: Mortgage Portfolio Balances
© Freddie Mac 3 $3,534 $3,571 $3,582 $3,593 $3,621 $3,082 $3,104 $3,115 $3,127 $3,141 $452 $467 $467 $466 $480 Single-Family mortgage portfolio Multifamily mortgage portfolio 09/30/24 12/31/24 03/31/25 06/30/25 09/30/25 Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 2% YoY increas
Slide 4: Conservatorship Matters
© Freddie Mac 4 $67.6 $137.5 $140.2 Net worth Senior preferred stock liquidation preference Remaining Treasury funding commitment As of September 30, 2025 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 National home prices3 increased by an average of 1% over the past year 6.08% 6.85% 6.65% 6.77% 6.30% 5.16% 4.53% 4.33% 4.32% 4.31% 30-year mortgage rate, based on Primary Mortgage Market Survey (PMMS) SOFR 09/30/24 12/31/24 03/31/25 06/30/25 09/30/25 Key Economic Indicators Quarterly
Slide 6: Single-Family Financial Highlights and Key Metrics
© Freddie Mac 6 $3,082 $3,104 $3,115 $3,127 $3,141 3Q24 4Q24 1Q25 2Q25 3Q25 1.05% 1.10% 0.96% 1.04% 1.03% 0.27% 0.31% 0.26% 0.26% 0.28% 0.54% 0.59% 0.59% 0.55% 0.57% One month past due Two months past due Seriously delinquent 3Q24 4Q24 1Q25 2Q25 3Q25 $98 $100 $78 $94 $99 $84 $74 $62 $76 $81 $14 $26
Slide 7: Single-Family Loan Purchase Credit Characteristics
© Freddie Mac 7 77% 77% 77% 77% 77% 3Q24 4Q24 1Q25 2Q25 3Q25 86% 74% 79% 81% 82% 8% 9% 11% 8% 9% 6% 17% 10% 11% 9% Home purchase Cash-out refinance Other refinance 3Q24 4Q24 1Q25 2Q25 3Q25 755 756 756 759 756 3Q24 4Q24 1Q25 2Q25 3Q25 29% 28% 30% 28% 28% 3Q24 4Q24 1Q25 2Q25 3Q25 New business activity
Slide 8: Single-Family Credit Risk Transfer
© Freddie Mac 8 UPB covered by new CRT issuance $ Billions $44 $36 $63 $41 $31 3Q24 4Q24 1Q25 2Q25 3Q25 Mortgage portfolio with credit enhancement UPB in $ Billions Single-Family Credit Risk Transfer $1,897 $1,914 $1,927 $1,929 $1,941 62% 62% 62% 62% 62% UPB Percentage 09/30/24 12/31/24 03/31/25 06/
Slide 9: Multifamily Financial Highlights and Key Metrics
© Freddie Mac 9 $15 $30 $10 $12 $25 3Q24 4Q24 1Q25 2Q25 3Q25 0.39% 0.51%0.74% 1.05%1.21% 3.47% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) 3Q24 4Q24 1Q25 2Q25 3Q25 Multifamily delinquency rates $452 $467 $467 $466 $480 3Q24 4Q24 1Q25 2Q25 3Q25 Multifamily Finan
Slide 10: Multifamily New Business Characteristics
© Freddie Mac 10 Acquisitions of units by area median income (AMI) (% of eligible units acquired) 39% 28% 43% 39% 34% 29% 37% 32% 35% 33% 26% 28% 19% 21% 25% 6% 7% 6% 5% 8% ≤60% >60% to ≤80% >80% to ≤120% >120% 3Q24 4Q24 1Q25 2Q25 3Q25 Weighted average ODSCR assumes monthly payments that reflect amo
Slide 11: Multifamily Credit Risk Transfer
© Freddie Mac 11 $421 $425 $434 $431 $432 93% 91% 93% 92% 90% UPB Percentage 09/30/24 12/31/24 03/31/25 06/30/25 09/30/25 Mortgage portfolio with credit enhancement UPB in $ Billions $7 $18 $18 $9 $12 3Q24 4Q24 1Q25 2Q25 3Q25 Multifamily Credit Risk Transfer UPB covered by new CRT issuance $ Billion
Slide 12: Housing Market Support
© Freddie Mac 12 18 20 25 24 22 5 6 7 5 5 6 8 11 8 8 7 6 7 11 9 Forbearance plans and other Payment deferral plans Loan modifications 3Q24 4Q24 1Q25 2Q25 3Q25 Number of families Freddie Mac helped to own or rent a home5 In Thousands Housing Market Support 415 539 313 363 483 49 82 53 58 62 235 212 1
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