Second Quarter 2021 Financial Results Supplement

July 29, 2021

© Freddie Mac

Financial Highlights

Net revenues, net income, and comprehensive income

$ Billions

$5.9

$5.1

$5.0

$5.3

$4.1

$3.7

$3.6

$2.5

$2.4

$2.9

$2.8

$2.5

$2.4

$1.8

$1.9

2Q20

3Q20

4Q20

1Q21

2Q21

Net revenues

Net income

Comprehensive income

  • Net income of $3.7 billion and comprehensive income of $3.6 billion for the second quarter of 2021, an increase of 107% and 86% year-over-year, respectively, driven by higher net revenues and a credit reserve release
  • Net revenues increased 41% year-over-year to $5.9 billion, primarily driven by mortgage portfolio growth, higher average guarantee fee rates, and higher deferred fee income recognition

© Freddie Mac

2

Total Portfolio Balances

Mortgage portfolio1

23% YoY

Portfolio balance highlights

$ Billions

increase

Total mortgage portfolio:

$2,962

$2,545

$2,714

$2,852

$2,415

$398

$394

Single-Family - grew $503 billion, or 24%, year-over-

$388

$366

$354

year

$2,458

$2,564

Multifamily - grew $44 billion, or 12%, year-over-year

$2,061

$2,179

$2,326

Total investments portfolio:

06/30/20

09/30/20

12/31/20

03/31/21

06/30/21

Mortgage-related investments portfolio - decreased

$81 billion, or 42%, year-over-year

Single-Family mortgage portfolio

Other investments portfolio - increased $16 billion, or

10%, year-over-year

Multifamily mortgage portfolio

Investments portfolio

Total debt outstanding5*

$ Billions

3.6

19% YoY

2.5

3.4

3.5

3.5

decrease

$349

$345

$345

$339

$284

$289

$287

$287

$263

$231

$155

$147

25%

8%

4%

5%

5%

$163

$165

$171

41%

43%

43%

39%

30%

$194

$198

$182

$174

$113

45%

51%

52%

52%

56%

06/30/20

09/30/20

12/31/20

03/31/21

06/30/21

06/30/20

09/30/20

12/31/20

03/31/21

06/30/21

Mortgage-related investments portfolio 2,3*

Other investments portfolio 4

Totals may not add due to rounding.

*See Endnotes 2, 3, and 5 regarding limitations on our mortgage-related investments portfolio and total

Non-callable debt

Callable debt

Discount Notes and other

Weighted average maturity in years

debt outstanding.

© Freddie Mac

3

Percentage of Loans in Forbearance

Single-Family6

Multifamily7

1.67%

1.26%

1.28%

0.98%

0.26%

0.26%

0.09%

0.08%

0.02%

Current

One

Two

Three

Greater

Total

Forbearance Period

Repayment Period

Total

Month

Months

Months

Than Six

to Six

Months

Months

Past Due

Percentage of loans in the single-family mortgage portfolio that were in forbearance by payment status as of June 30, 2021 (based on loan count).

Percentage of loans in the multifamily mortgage portfolio currently under a forbearance program as of June 30, 2021 (based on UPB).

© Freddie Mac

4

Conservatorship Matters

Net worth, liquidation preference8, and Treasury funding commitment

$ Billions

$140.2

$91.4

$22.4

As of June 30, 2021

Net worth

Senior preferred stock liquidation preference

Remaining Treasury funding commitment

Draws and dividend payments

$ Billions

$119.7

$71.6

As of June 30, 2021

Cumulative draws from Treasury

Cumulative dividend payments to Treasury

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 in the Enterprise Regulatory Capital Framework (ERCF).

© Freddie Mac

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original document
  • Permalink

Disclaimer

Freddie Mac - Federal Home Loan Mortgage Corporation published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 12:18:11 UTC.