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) — Q2 2022 Earnings Presentation
14 slides from Freddie Mac's earnings presentation, Jul 28, 2022
Slide 1: Second Quarter 2022 Financial Results Supplement
© Freddie Mac Second Quarter 2022 Financial Results Supplement July 28, 2022 Exhibit 99.2
Slide 2: Financial Highlights
© Freddie Mac 2 Financial Highlights $5.9 $5.2 $5.6 $5.8 $5.4 $3.7 $2.9 $2.7 $3.8 $2.5 Net revenues Net income 2Q21 3Q21 4Q21 1Q22 2Q22 Net revenues and net income $ Billions ▪ Net income of $2.5 billion for the second quarter of 2022, a decrease of 33% year-over-year, primarily driven by a $0.3 bil
Slide 3: Mortgage Portfolio Balances
© Freddie Mac 3 $2,962 $3,086 $3,207 $3,299 $3,343 $2,564 $2,682 $2,792 $2,884 $2,928 $398 $404 $415 $415 $415 Single-Family mortgage portfolio Multifamily mortgage portfolio 06/30/21 09/30/21 12/31/21 03/31/22 06/30/22 Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 13% YoY increa
Slide 4: Conservatorship Matters
© Freddie Mac 4 $34.1 $104.4 $140.2 Net worth Senior preferred stock liquidation preference Remaining Treasury funding commitment As of June 30, 2022 Conservatorship Matters Pursuant to the Purchase Agreement, Freddie Mac will not be required to pay a dividend to Treasury until it has built sufficie
Slide 5: Key Economic Indicators
© Freddie Mac 5 422,000 543,000 637,000 539,000 375,000 5.9% 4.7% 3.9% 3.6% 3.6% Average monthly net new jobs (non-farm) National unemployment rate (as of the last month in each quarter) 2Q21 3Q21 4Q21 1Q22 2Q22 National home prices increased by an average of 17.0% over the past year Quarterly endin
Slide 6: Single-Family Financial Highlights and Key Metrics
© Freddie Mac 6 $2,564 $2,682 $2,792 $2,884 $2,928 2Q21 3Q21 4Q21 1Q22 2Q22 0.73% 0.76% 0.81% 0.73% 0.81% 0.21% 0.20% 0.20% 0.20% 0.19% 1.86% 1.46% 1.12% 0.92% 0.76% One month past due Two months past due Seriously delinquent 2Q21 3Q21 4Q21 1Q22 2Q22 $288 $299 $271 $207 $138 $98 $132 $111 $93 $86 $1
Slide 7: Single-Family Loan Purchase Credit Characteristics
© Freddie Mac 7 71% 72% 71% 72% 75% 2Q21 3Q21 4Q21 1Q22 2Q22 34% 44% 41% 45% 62% 23% 26% 31% 33% 28%43% 30% 28% 22% 10% Home purchase Cash-out refinance Other refinance 2Q21 3Q21 4Q21 1Q22 2Q22 754 750 748 746 744 2Q21 3Q21 4Q21 1Q22 2Q22 11% 12% 13% 15% 17% 2Q21 3Q21 4Q21 1Q22 2Q22 New business act
Slide 8: Single-Family Credit Risk Transfer
© Freddie Mac 8 UPB covered by new CRT issuance $ Billions $174 $167 $242 $208 $151 2Q21 3Q21 4Q21 1Q22 2Q22 Mortgage portfolio with credit enhancement UPB in $ Billions $1,255 $1,345 $1,491 $1,594 $1,72649% 50% 53% 55% 59% UPB Percentage 06/30/21 09/30/21 12/31/21 03/31/22 06/30/22 Single-Family Cr
Slide 9: Multifamily Financial Highlights and Key Metrics
© Freddie Mac 9 $13 $18 $25 $15 $15 2Q21 3Q21 4Q21 1Q22 2Q22 0.15% 0.07% 0.28% 0.22% 1.28% 1.12% 0.08% 0.00% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) ACLI investment bulletin (60+ day) 2Q21 3Q21 4Q21 1Q22 2Q22 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% 36% 25% 53% 53% 34% 32% 32% 28% 27% 20% 26% 34% 16% 17% 3% 6% 9% 3% 3% ≤60% >60% to ≤80% >80% to ≤120% >120% 2Q21 3Q21 4Q21 1Q22 2Q22 1.38 1.35 1.33 1.33 1.33 68% 67% 67% 67% 63% Weighted average OD
Slide 11: Multifamily Credit Risk Transfer
© Freddie Mac 11 $373 $380 $389 $389 $397 94% 94% 94% 94% 96% UPB Percentage 06/30/21 09/30/21 12/31/21 03/31/22 06/30/22 Mortgage portfolio with credit enhancement UPB in $ Billions $17 $18 $23 $14 $21 2Q21 3Q21 4Q21 1Q22 2Q22 Multifamily Credit Risk Transfer UPB covered by new CRT Issuance $ Billi
Slide 12: Housing Market Support
© Freddie Mac 12 88 73 62 49 37 27 21 16 9 7 55 45 39 23 16 5 6 6 16 13 1 1 1 1 1 Forbearance plans Payment deferral plans Loan modifications Other 2Q21 3Q21 4Q21 1Q22 2Q22 Number of families Freddie Mac helped to own or rent a home4 In Thousands Housing Market Support 1,160 1,188 1,178 835 617 708
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