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 2023 Earnings Presentation
14 slides from Freddie Mac's earnings presentation, Nov 1, 2023
Slide 1: Third Quarter 2023 Financial Results Supplement
© Freddie Mac Third Quarter 2023 Financial Results Supplement November 1, 2023 Exhibit 99.2
Slide 2: Financial Highlights
© Freddie Mac 2 Financial Highlights $5.2 $4.8 $4.8 $5.3 $5.7 $1.3 $1.8 $2.0 $2.9 $2.7 Net revenues Net income 3Q22 4Q22 1Q23 2Q23 3Q23 Net revenues and net income $ Billions ▪ Net income of $2.7 billion for the third quarter of 2023, an increase of 104% year-over-year, with the increase primarily d
Slide 3: Mortgage Portfolio Balances
© Freddie Mac 3 $3,387 $3,415 $3,415 $3,431 $3,456 $2,971 $2,986 $2,989 $3,004 $3,024 $416 $429 $426 $427 $432 Single-Family mortgage portfolio Multifamily mortgage portfolio 09/30/22 12/31/22 03/31/23 06/30/23 09/30/23 Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 2% YoY increas
Slide 4: Conservatorship Matters
© Freddie Mac 4 $44.7 $114.6 $140.2 Net worth Senior preferred stock liquidation preference Remaining Treasury funding commitment As of September 30, 2023 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 prices increased by an average of 5.2% over the past year 6.70% 6.42% 6.32% 6.71% 7.31% 2.47% 4.06% 4.63% 5.07% 5.32% 30-year mortgage rate, based on Primary Mortgage Market Survey (PMMS) SOFR 09/30/22 12/31/22 03/31/23 06/30/23 09/30/23 Key Economic Indicators Quarterl
Slide 6: Single-Family Financial Highlights and Key Metrics
© Freddie Mac 6 $2,971 $2,986 $2,989 $3,004 $3,024 3Q22 4Q22 1Q23 2Q23 3Q23 0.79% 0.94% 0.76% 0.88% 0.99% 0.20% 0.24% 0.20% 0.21% 0.24% 0.67% 0.66% 0.62% 0.56% 0.55% One month past due Two months past due Seriously delinquent 3Q22 4Q22 1Q23 2Q23 3Q23 $121 $75 $59 $83 $85 $98 $63 $51 $73 $76 $23 $12
Slide 7: Single-Family Loan Purchase Credit Characteristics
© Freddie Mac 7 78% 78% 79% 79% 78% 3Q22 4Q22 1Q23 2Q23 3Q23 80% 84% 86% 88% 89% 16% 12% 9% 8% 8%4% 4% 5% 4% Home purchase Cash-out refinance Other refinance 3Q22 4Q22 1Q23 2Q23 3Q23 747 747 749 751 753 3Q22 4Q22 1Q23 2Q23 3Q23 19% 22% 23% 26% 29% 3Q22 4Q22 1Q23 2Q23 3Q23 New business activity with
Slide 8: Single-Family Credit Risk Transfer
© Freddie Mac 8 UPB covered by new CRT issuance $ Billions $136 $58 $15 $56 $8 3Q22 4Q22 1Q23 2Q23 3Q23 Mortgage portfolio with credit enhancement UPB in $ Billions Single-Family Credit Risk Transfer $1,803 $1,832 $1,840 $1,864 $1,865 61% 61% 62% 62% 62% UPB Percentage 09/30/22 12/31/22 03/31/23 06/
Slide 9: Multifamily Financial Highlights and Key Metrics
© Freddie Mac 9 $14 $29 $6 $13 $13 3Q22 4Q22 1Q23 2Q23 3Q23 0.13% 0.24% 0.15% 0.21% 0.99% 0.55% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) 3Q22 4Q22 1Q23 2Q23 3Q23 Multifamily delinquency rates $416 $429 $426 $427 $432 3Q22 4Q22 1Q23 2Q23 3Q23 Multifamily Fina
Slide 10: Multifamily New Business Characteristics
© Freddie Mac 10 Acquisitions of units by area median income (AMI) (% of eligible units acquired) 44% 34% 44% 38% 36% 31% 33% 25% 29% 30% 21% 28% 22% 23% 24% 4% 5% 9% 10% 10% ≤60% >60% to ≤80% >80% to ≤120% >120% 3Q22 4Q22 1Q23 2Q23 3Q23 1.31 1.25 1.27 1.27 1.26 59% 58% 57% 58% 60% Weighted average
Slide 11: Multifamily Credit Risk Transfer
© Freddie Mac 11 $394 $398 $396 $402 $410 95% 93% 93% 94% 95% UPB Percentage 09/30/22 12/31/22 03/31/23 06/30/23 09/30/23 Mortgage portfolio with credit enhancement UPB in $ Billions $11 $16 $8 $16 $17 3Q22 4Q22 1Q23 2Q23 3Q23 Multifamily Credit Risk Transfer UPB covered by new CRT issuance $ Billio
Slide 12: Housing Market Support
© Freddie Mac 12 28 22 24 20 18 6 6 7 6 5 12 10 11 9 7 10 6 6 5 6 Forbearance and other Payment deferral plans Loan modifications 3Q22 4Q22 1Q23 2Q23 3Q23 Number of families Freddie Mac helped to own or rent a home4 In Thousands Housing Market Support 542 504 250 372 389 95 52 33 41 38 297 200 157 2
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