Freddie Mac · OTC:FMCC
Freddie Mac — Investor Presentation (June 2026)
14 slides from Freddie Mac's investor presentation, Jun 30, 2026
Slide 1: Multifamily Credit Insurance Pool (MCIP) Program Overview
Multifamily Credit Insurance Pool® (MCIP®) Program Overview Investor Presentation as of June 30, 2026
Slide 2: Multifamily Credit Insurance Pool (MCIP) Program
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Multifamily Credit Insurance Pool® (MCIP®) Program MCIP policies offer (re)insurers an innovative way to add U.S. multifamily market exposure while benefiting from our indu
Slide 3: MCIP CRT Historical Issuance
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix MCIP CRT Historical Issuance MCIP MCIP MCIP MCIP MCIP MCIP MCIP MCIP MCIP MCIP MCIP Category 2026-R14 2026-R13 2025-R12 2025-R11 2025-R10 2024-R9 2024-R8 2023-R7 2023-R6 20
Slide 4: MCIP Reference Obligations
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix MCIP Reference Obligations MCIP policies transfer the credit risk on a pool of loans primarily backing fully guaranteed Freddie Mac Multifamily Participation Certificates (
Slide 5: Strategic Growth of Fully Guaranteed Securitizations Increased the Need for MCIP
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Strategic Growth of Fully Guaranteed Securitizations Increased the Need for MCIP Senior/Sub vs. Fully Guaranteed Issuance Volume1 CRT Issuance Volume ($ Million)2,3 ($ Bill
Slide 6: Underwriting and Credit
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Underwriting and Credit Our credit policy and consistent underwriting practices are among the main drivers of the strong performance of Freddie Mac Multifamily offerings Cr
Slide 7: Sample MCIP Structure (Companion Deal with MSCR)
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Sample MCIP Structure (Companion Deal with MSCR) Hypothetical allocations of Principal Payments Reference Pool: Comprises primarily loans • Backing Freddie Mac Multi PCs &
Slide 8: Sample Deal Subordination and Waterfall Trigger
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Sample Deal Subordination and Waterfall Trigger Trigger Not in Effect Trigger in Effect Last Loss Pro Rata Regular Principal 100% Regular Principal A-H Tranche Waterfall Tr
Slide 9: (Re)insurer Participation
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix (Re)insurer Participation Direct Cut Freddie Mac enters into/executes primary through insurance policy with cell company Clause Approved counterparty (re)insurers participa
Slide 10: Historical Freddie Mac Multifamily Loan Performance
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Historical Freddie Mac Multifamily Loan Performance1 Realized Loss Comparison by Funding Year (1994 – 2025) $60 3.00% $50 2.50% $40 2.00% $30 1.50% $20 1.00% $10 0.50% $- 0
Slide 11: Additional Resources
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Additional Resources Stay Up to Date with Our Investor Resources Connect with Us Securitization Overview - https://mf.freddiemac.com/docs/mf_securitization_investor-present
Slide 12: Appendix A: Allocation of Loss in MCIP Structures
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Appendix A: Allocation of Loss in MCIP Structures Disposition Loss Modification Loss (+) UPB as of the date of default Modification Loss = Investor Impact Borrower Impact E
Slide 13: Appendix B: Servicing Standard
MCIP Program Overview Performance Additional Resources Appendix MCIP Program Overview Performance Additional Resources Appendix Appendix B: Servicing Standard The Freddie Mac Multifamily Servicing Standard ensures best-in-class service throughout the life of the loan Key Rating Drivers Rating Agency
Slide 14: Forward-looking statements disclaimer
This product overview may contain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the company’s control. Management’s expectations for the company’s future necessarily involve several assumptions, judgments and estima