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) — Q1 2021 Earnings Presentation
15 slides from Freddie Mac's earnings presentation, Apr 29, 2021
Slide 1: First Quarter 2021 Financial Results Supplement
First Quarter 2021 Financial Results Supplement April 29, 2021 Exhibit 99.2
Slide 2: Financial Highlights
2© Freddie Mac Financial Highlights $2.4 $4.1 $5.1 $5.0 $5.3 $0.2 $1.8 $2.5 $2.9 $2.8 $0.6 $1.9 $2.4 $2.5 $2.4 Net revenues Net income Comprehensive income 1Q20 2Q20 3Q20 4Q20 1Q21 Net Revenues, Net Income, and Comprehensive Income $ Billions ▪ Net income of $2.8 billion and comprehensive income of
Slide 3: Total Portfolio Balances
3© Freddie Mac $334 $349 $345 $345 $339 $211 $194 $198 $182 $174 $123 $155 $147 $163 $165 Mortgage-related investments portfolio Other investments portfolio 03/31/20 06/30/20 09/30/20 12/31/20 03/31/21 $2,362 $2,415 $2,545 $2,714 $2,852 $2,020 $2,061 $2,179 $2,326 $2,458 $342 $354 $366 $388 $394 Sin
Slide 4: Percentage of Loans in Forbearance
4© Freddie Mac Multifamily7Single-Family6 Percentage of Loans in Forbearance 0.06% 1.82% 1.88% Forbearance Period Repayment Period Total 0.32% 0.13% 0.12% 0.41% 1.21% 2.19% Current One Month Two Months Three Months to Six Months Greater Than Six Months Total Percentage of loans in the single-family
Slide 5: Conservatorship Matters
5© Freddie Mac Conservatorship Matters Due to changes to the terms of the senior preferred stock pursuant to the January 2021 Letter Agreement, Freddie Mac will not be required to pay a dividend to Treasury until it has built sufficient capital to meet the capital requirements and buffers set forth
Slide 6: Key Economic Indicators
6© Freddie Mac (360,000) (4,333,000) 1,342,000 213,000 539,000 4.4% 11.1% 7.8% 6.7% 6.0% Average monthly net new jobs (non-farm) National unemployment rate (as of the last month in each quarter) 1Q20 2Q20 3Q20 4Q20 1Q21 Key Economic Indicators National home prices increased by an average of 12.9% ov
Slide 7: Single-Family Financial Highlights and Key Metrics
7© Freddie Mac $138 $232 $337 $383 $362 $55 $60 $101 $109 $89 $83 $172 $236 $274 $273 49 48 46 47 50 Home purchase UPB Refinance UPB 1Q20 2Q20 3Q20 4Q20 1Q21 1.26% 1.47% 1.08% 1.01% 0.73% 0.30% 1.66% 0.50% 0.38% 0.27% 0.60% 2.48% 3.04% 2.64% 2.34% One month past due Two months past due Seriously del
Slide 8: Single-Family Loan Purchase Credit Characteristics
8© Freddie Mac 40% 26% 30% 28% 25% 21% 18% 16% 18% 20% 39% 56% 54% 54% 55% Home purchase Cash-out refinance Other refinance 1Q20 2Q20 3Q20 4Q20 1Q21 752 758 761 761 759 1Q20 2Q20 3Q20 4Q20 1Q21 14% 10% 10% 10% 10% 1Q20 2Q20 3Q20 4Q20 1Q21 New business activity with debt-to-income ratio > 45% Weighte
Slide 9: Single-Family Credit Risk Transfer
9© Freddie Mac CRT issuance protected UPB $ Billions $141 $1 $167 $167 $245 1Q20 2Q20 3Q20 4Q20 1Q21 Mortgage portfolio with credit enhancement UPB in $ Billions $1,172 $1,103 $1,133 $1,178 $1,258 58% 54% 52% 51% 51% UPB Percentage 03/31/20 06/30/20 09/30/20 12/31/20 03/31/21 Single-Family Credit Ri
Slide 10: Multifamily Financial Highlights and Key Metrics
10© Freddie Mac Multifamily acquisitions of units by area median income (AMI) (% of eligible units acquired) 32% 34% 39% 33% 43% 40% 37% 31% 38% 34% 24% 24% 26% 25% 20% 4% 5% 4% 4% 3% ≤60% >60% to ≤80% >80% to ≤120% >120% 1Q20 2Q20 3Q20 4Q20 1Q21 69% 69% 66% 70% 69% 1Q20 2Q20 3Q20 4Q20 1Q21 1.42 1.3
Slide 11: Multifamily Key Metrics, continued
11© Freddie Mac Securitization and guarantee activities10,11 $ Billions $13 $13 $23 $28 $23 $12 $12 $21 $26 $21 $1 $1 $2 $2 $2 Guaranteed securities and other mortgage-related guarantees Unguaranteed subordinated securities issued by our securitizations 1Q20 2Q20 3Q20 4Q20 1Q21 $10 $20 $18 $35 $14 1
Slide 12: Multifamily Mortgage Portfolio Metrics
12© Freddie Mac 0.08% 0.17% 0.26% 1.05% 1.48% 0.10% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) ACLI investment bulletin (60+ day) 1Q20 2Q20 3Q20 4Q20 1Q21 $342 $354 $366 $388 $394 1Q20 2Q20 3Q20 4Q20 1Q21 Multifamily market and Freddie Mac delinquency rates7 M
Slide 13: Housing Market Support
13© Freddie Mac 1 81 94 52 38 1 94 74 50 8 7 6 7 6 Forbearance agreements Payment deferrals Other 1Q20 2Q20 3Q20 4Q20 1Q21 Number of families Freddie Mac helped to own or rent a home12 In Thousands Housing Market Support 637 1,028 1,338 1,598 1,365 309 609 813 936 940 217 218 340 356 291 111 201 185
Slide 14: Endnotes
14© Freddie Mac Endnotes 1 Based on unpaid principal balances (UPB) of securitized mortgage loans, unsecuritized mortgage loans, and other, which primarily consists of mortgage-related guarantees. 2 The company’s Purchase Agreement with Treasury limits the amount of mortgage assets the company can o
Slide 15: Safe Harbor Statements
15© Freddie Mac 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 agen