Monthly Volume Summary: February 2019

Monthly Volume Summary: February 2019

(unaudited & subject to change)

(dollars in millions)

TABLE 1 - TOTAL MORTGAGE PORTFOLIO

February 2019 Highlights: ►The total mortgage portfolio increased at an annualized rate of 3.0% in February. ►Single-family refinance-loan purchase and guarantee volume was $7.1 billion in February, representing 35% of total single-family mortgage portfolio purchases and issuances. ►The aggregate unpaid principal balance (UPB) of our mortgage-related investments portfolio increased by approximately $200 million in February. ►Freddie Mac mortgage-related securities and other mortgage-related guarantees increased at an annualized rateof 2.7% in February. ►Our single-family seriously delinquent rate decreased from 70 basis points in January to 69 basis points inFebruary. Our multifamily delinquency rate remained flat at 1 basis point in February. ►The measure of our exposure to changes in portfolio market value (PMVS-L) averaged $8 million in February. Duration gap averaged 0 months. ►Since September 2008, Freddie Mac has been operating in conservatorship, with the Federal Housing FinanceAgency (FHFA) acting as Conservator.

Purchases or Issuances SalesLiquidationsNet Increase/ (Decrease)Annualized GrowthAnnualized LiquidationEnding Balance2 Rate Rate

Freddie Mac
Annualized Growth	Annualized	Mortgage-Related	Mortgage	Ending
Purchases1	Sales	Liquidations	Ending Balance	Rate	Liquidation Rate	Securities2	Agency	Non-Agency2	Loans	Balance
Feb 2018	$16,909	($23,657)	($2,420)	$246,704	(43.0%)	11.3%	Feb 2018	$131,967	$5,119	$4,220	$105,398	$246,704
Mar	22,640	(25,129)	(3,232)	240,982	(27.8%)	15.7%	Mar	131,587	4,918	3,665	100,812	240,982
Apr	23,455	(21,358)	(2,778)	240,302	(3.4%)	13.8%	Apr	129,997	4,442	3,574	102,289	240,302
May	26,994	(22,350)	(2,832)	242,114	9.0%	14.1%	May	130,684	4,356	3,497	103,577	242,114
June	25,603	(27,983)	(3,343)	236,391	(28.4%)	16.6%	June	129,726	4,463	3,443	98,759	236,391
Jul	24,654	(13,821)	(3,087)	244,137	39.3%	15.7%	Jul	135,070	4,353	2,913	101,801	244,137
Aug	29,391	(36,095)	(2,969)	234,464	(47.5%)	14.6%	Aug	126,545	4,173	2,880	100,866	234,464
Sep	23,854	(27,607)	(2,907)	227,804	(34.1%)	14.9%	Sep	124,062	4,395	2,841	96,505	227,804
Oct	26,630	(22,565)	(3,533)	228,336	2.8%	18.6%	Oct	124,015	4,277	2,762	97,281	228,336
Nov	28,456	(31,860)	(2,971)	221,961	(33.5%)	15.6%	Nov	122,404	4,097	2,723	92,737	221,961
Dec	29,506	(31,078)	(2,309)	218,080	(21.0%)	12.5%	Dec	120,148	3,979	2,335	91,618	218,080
Full-Year 2018	$296,649	($296,843)	($35,181)	$218,080	(14.0%)	13.9%	Full-Year 2018	$120,148	$3,979	$2,335	$91,618	$218,080
Jan 2019	$17,282	($14,434)	($2,009)	$218,919	4.6%	11.1%	Jan 2019	$121,427	$3,748	$2,319	$91,425	$218,919
Feb	$19,072	($17,012)	($1,840)	$219,139	1.2%	10.1%	Feb	$120,955	$3,660	$2,288	$92,236	$219,139
YTD 2019	$36,354	($31,446)	($3,849)	$219,139	2.9%	10.6%	YTD 2019	$120,955	$3,660	$2,288	$92,236	$219,139

Numbers may not sum due to rounding. See Endnotes and Additional Information on Pages 2 and 3.

TABLE 4 - FREDDIE MAC MORTGAGE-RELATED SECURITIES AND OTHER MORTGAGE-RELATED GUARANTEES

Issuances

TABLE 6 - DELINQUENCIES - TOTAL

Feb 2018 Mar

Apr May June Jul Aug Sep Oct Nov Dec

Full-Year 2018

Jan 2019

Feb

YTD 2019

$381,919

$25,367

$22,984

$23,245

$46,229

31,279

28,834

32,283

36,068

28,816

36,305

33,739

31,482

40,115

33,896

Liquidations

($274,337)

($20,822)

($20,305)

($18,467)

($38,772)

(19,853)

(22,540)

(22,351)

(24,256)

(24,931)

(24,371)

(25,312)

(23,519)

(22,722)

(20,348)Net Increase/ (Decrease)

$107,582

$4,545

11,426

11,812

11,934

17,393

13,548

$2,679

$4,778

$7,457

6,294

9,932

3,885

8,427

7,963

Ending Balance

$1,981,390 2.8%

$2,084,006

$2,086,685 1.5%

$2,091,463 2.7%

$2,091,463

1,992,817 6.9%

1,999,111 3.8%

2,009,044 6.0%

2,020,855 7.1%

2,024,740 2.3%

2,036,674 7.1%

2,045,101 5.0%

2,053,064 4.7%

2,070,458 10.2%

2,084,006 7.9%

Annualized Growth	Annualized
Rate	Liquidation Rate	Issuances	Redemptions	Repurchases
12.6%	Feb 2018	$63,338	$8,355	($6,473)	($145)
12.0%	Mar	54,315	2,613	(9,120)	(200)
13.6%	Apr	45,089	4,508	(4,193)	(441)
13.4%	May	55,180	2,202	(4,734)	(1,026)
14.5%	June	56,952	6,489	(8,222)	-
14.8%	Jul	67,709	2,143	(9,076)	-
14.4%	Aug	68,806	4,075	(4,320)	-
14.9%	Sep	68,652	2,305	(4,516)	-
13.8%	Oct	62,460	1,077	(6,204)	-
13.3%	Nov	55,132	875	(2,492)	(650)
11.8%	Dec	51,246	2,090	(2,617)	(64)
13.9%	Full-Year 2018	$51,246	$39,690	($76,045)	($2,735)
11.7%	Jan 2019	56,676	3,658	(3,810)	(221)
10.6%	Feb	81,160	5,950	(6,849)	-
11.2%	YTD 2019	$81,160	$9,608	($10,659)	($221)
TABLE 7 - OTHER INVESTMENTS

Ending Balance

5.4%

2.1%Single-Family

Multifamily

Credit Enhanced Primary

Non-Credit EnhancedMortgage InsuranceOther

Total

TotalFeb 2018 Mar

1.17%

1.40%

0.50% 1.06%

1.07%

1.28%

0.44% 0.97%

Apr May June Jul Aug Sep Oct Nov Dec

1.04%

1.22%

0.42% 0.94%

0.98%

1.13%

0.39% 0.87%

0.96%

1.04%

0.33% 0.82%

0.92%

0.96%

0.32% 0.78%

0.86%

0.90%

0.31% 0.73%

0.88%

0.89%

0.30% 0.73%

0.85%

0.86%

0.30% 0.71%

0.86%

0.85%

0.29% 0.70%

0.83%

0.86%

0.31% 0.69%Jan 2019 Feb

0.84% 0.84%

0.86% 0.85%

0.32% 0.70%

0.32% 0.69%

Monthly Average
0.02%	Feb 2018	$63,495	Feb 2018	$3	--
0.02%	Mar	51,398	Mar	9	8
0.01%	Apr	43,481	Apr	6	--
0.01%	May	49,720	May	34	--
0.01%	June	55,254	June	29	23
0.01%	Jul	52,729	Jul	26	--
0.01%	Aug	63,186	Aug	18	--
0.01%	Sep	67,516	Sep	9	18
0.01%	Oct	57,325	Oct	7	--
0.01%	Nov	53,446	Nov	3	--
0.01%	Dec	48,388	Dec	23	11
Full-Year 2018	$48,388	Full-Year 2018	$15	--
0.01%	Jan 2019	$52,063	Jan 2019	29	--
0.01%	Feb	$75,873	Feb	8	--
Feb 2019	$75,873	YTD 2019	$19	--

Ending Balance

TABLE 5 - OTHER DEBT ACTIVITIES

Original Maturity<

1 Year

TABLE 8 - INTEREST-RATE RISK SENSITIVITY DISCLOSURES
Portfolio Market Value-
Level	Yield Curve
(PMVS-L) (50 bp)	(PMVS-YC) (25 bp)	Duration Gap
(dollars in millions)	(dollars in millions)	(Rounded to Nearest Month)
Quarterly	Quarterly

Portfolio Market Value-

ENDNOTES

• (1)Purchases of Freddie Mac mortgage-related securities into the mortgage-related investments portfolio totaled $4 billion (based on UPB) during February 2019.

  Original Maturity > 1 Year

  Maturities and	Ending	Total Debt
  Balance	Outstanding
  $233,953	$297,291
  227,246	281,561
  227,120	272,209
  223,561	278,741
  221,829	278,781
  214,896	282,605
  214,651	283,457
  212,439	281,092
  207,311	269,771
  205,045	260,176
  204,454	255,700
  $204,454	$255,700
  204,082	260,758
  203,183	284,343
  $203,183	$284,343

  Average	Monthly Average
  $7	--	0	--
  13	9	0	0
  9	--	0	--
  13	--	0	--
  14	12	0	0
  13	--	0	--
  14	--	0	--
  8	12	0	0
  13	--	0	--
  8	--	0	--
  9	10	0	0
  $11	--	0	--
  4	--	0	--
  9	--	0	--
  $7	--	0	--

  Monthly	Quarterly
  Average	Average	Average

• (2)In December 2018, we reclassified certain securities issued by third-party trusts but guaranteed by Freddie Mac from Non-Agency Securities to Freddie Mac Mortgage-Related Securities. Prior periods have been revised to conform to current period presentation.

The Monthly Volume Summary includes volume and statistical data pertaining to our portfolios. Inquiries should be addressed to our Investor Relations Department, which can be reached by calling [phone] or writing to:

1551 Park Run Drive, MS D5F,

McLean, VA 22102-3110or sending an email [e-mail].

Numbers may not sum due to rounding. See Additional Information on Page 3.

the

ADDITIONAL INFORMATION

General

The activity and balances set forth in Tables 1, 2, 3, 4 and 7 represent unpaid principal balances (UPB), and do not include market valuation adjustments, allowance for loan losses and security impairments, unamortized premiums and discounts, and the impact of consolidation of variable interest entities. In addition, all activity and balances in these tables are presented on a settlement date basis (i.e.,exclude amounts that are traded but not yet settled).

Table 1

Represents the sum of Freddie Mac mortgage-related securities and other mortgage-related guarantees (Table 4), mortgage loans (Table 3), non-Freddie Mac mortgage-related securities (agency and non-agency) (Table 3) and $54 million of unguaranteed Freddie Mac mortgage-related securities retained by us associated with credit risk transfer transactions.

Purchases or Issuances.Includes cash purchases of single-family and multifamily mortgage loans, issuances of Freddie Mac mortgage-related securities through our guarantor swap program, issuances of other mortgage-related guarantees, issuances of other securitization products and purchases of non-Freddie Mac mortgage-related securities.

Sales.Includes sales of non-Freddie Mac mortgage-related securities, sales of unguaranteed Freddie Mac mortgage-related securities and sales of mortgage loans.

Table 2

Represents mortgage loans and mortgage-related securities held by Freddie Mac. Mortgage-related securities balances reflect security balances and not the balance of underlying mortgage loan collateral.

Purchases.Includes cash purchases of single-family and multifamily mortgage loans, purchases of Freddie Mac and non-Freddie Mac mortgage-related securities from third parties, and additions for seriously delinquent, modified, and balloon/reset mortgage loans purchased out of PC pools.

Sales.Includes sales of Freddie Mac mortgage-related securities (including sales to third parties from the securitization of single-family and multifamily mortgage loans), sales of non-Freddie Mac mortgage-related securities, and sales of mortgage loans.

Liquidations.Represents the total amount of prepayments, curtailments, payoffs, foreclosures, or other repayments of principal on loans and securities.

Table 3

Presents the ending balances of the mortgage-related investments portfolio's four primary components.

Freddie Mac mortgage-related securities.Securities we issue or guarantee that are backed by mortgages.

Table 4

Issuances.Consists of: (a) guaranteed securities issued by Freddie Mac where the underlying collateral are mortgage loans or mortgage-backed securities; and (b) other mortgage-related guarantees, which are mortgage-related assets held by third parties for which we provide our guarantee without securitization of those assets. Other mortgage-related guarantees include tax-exempt multifamily housing revenue bonds, HFA bonds, and credit-related commitments with respect to single-family mortgage loans. Notional balances of interest-only strips are excluded because this table is based on UPB. Excludes any resecuritization activity involving Freddie Mac mortgage-related securities and guaranteed securities issued by Freddie Mac where the transfer of the underlying collateral would be accounted for as a secured borrowing.

Liquidations.Represents principal repayments relating to guaranteed Freddie Mac mortgage-related securities and other mortgage-related guarantees. Also includes our purchases of seriously delinquent, modified and balloon/reset mortgage loans out of PC pools.

Table 5

Primarily includes the balance and activity of our other debt, based on par values. Includes Reference Bills®securities, discount notes, medium-term notes, securities sold under agreements to repurchase and other secured borrowings, Reference Notes®securities, Structured Agency Credit Risk (STACR) debt notes, and subordinated debt. For more information about Freddie Mac's debt activity, please visitwww.freddiemac.com/debt.

Table 6

Reflects Freddie Mac's single-family and multifamily delinquency rates, which are considered mortgage credit performance metrics.

Single-Family Serious Delinquency Rateinformation is based on the number of mortgage loans that are three monthly payments or more past due or in the process of foreclosure.

Multifamily Delinquency Rateinformation is based on the UPB of mortgage loans that are two monthly payments or more past due or in the process of foreclosure, as reported by our servicers. Loans that have been modified (or are subject to forbearance agreements) are not counted as delinquent as long as the borrower is less than two monthly payments past due under the modified (or forbearance) terms.

Single-Family Credit Enhanced Other.Consists of Freddie Mac single-family mortgage loans covered by financial arrangements (other than primary mortgage insurance) that are designed to reduce our credit risk exposure, including loans in reference pools covered by STACR debt note transactions as well as other forms of credit protection. STACR debt note transactions transfer a portion of credit risk on certain groups of loans from Freddie Mac to private investors. The value of these transactions to us is dependent on various economic scenarios, and we will primarily benefit from these transactions if we experience significant mortgage loan defaults. The credit enhanced categories are not mutually exclusive as a single loan may be included in both the Primary Mortgage Insurance category and the Other category.

Mortgage loans that have been modified are not counted as seriously delinquent as long as the borrower is less than three monthly payments past due under the modified terms for single-family, and less than two monthly payments past due for multifamily.

Delinquency rates exclude financial guarantees that are backed by either HFA bonds or Ginnie Mae Certificates. For HAMP or non-HAMP modifications, we include loans in a trial period as seriously delinquent until the modification becomes effective.

Table 7

Reflects balances of cash and cash equivalents, federal funds sold and securities purchased under agreements to resell, and non-mortgage-related securities.

Table 8

PMVS and Duration Gapare our primary interest-rate risk measures. These measures include the impact of our purchases and sales of derivative instruments, which we use to limit our exposure to changes in interest rates.

Our PMVS measures are estimates of the amount of average potential pre-tax loss in the market value of our financial assets and liabilities due to parallel (PMVS-L) and non-parallel (PMVS-YC) changes in London Interbank Offered Rates (LIBOR). While we believe that our PMVS and duration gap metrics are useful risk management tools, they should be understood as estimates rather than precise measurements. Methodologies employed to calculate interest-rate risk sensitivity disclosures are periodically changed on a prospective basis to reflect improvements in the underlying estimation processes.

The PMVS and duration gap information presented above does not fully reflect the potential effect of negative index values across all of the company's floating rate assets and liabilities. However, we have implemented model adjustments to incorporate the effect of negative index values for the majority of the company's floating rate assets and liabilities. These adjustments had a minimal impact on our PMVS and duration gap results.

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