Federal Home Loan Mortgage Corp (FMCC) 10K Annual Reports & 10Q SEC Filings

•Financed 955,000 mortgages, with 56% of eligible loans being affordable to low- to moderate-income families, and enabled 375,000 first-time homebuyers to purchase a home.

•Financed 447,000 rental units, with 92% of eligible units being affordable to low- to moderate-income families.

Fourth Quarter 2023 Financial Results

Market Liquidity Provided -

$89 Billion

Homes and Rental Units Financed -

391,000

Net Worth -

$47.7 Billion

Total Mortgage

Portfolio -

$3.5 Trillion

Consolidated

•Net income of $2.9 billion, an increase of 65% year-over-year, primarily driven by higher net revenues and a credit reserve release in Single-Family in the fourth quarter of 2023 compared to a credit reserve build in Single-Family in the fourth quarter of 2022.

•Net revenues of $5.4 billion, an increase of 11% year-over-year, driven by higher net interest income and non-interest income.

•Benefit for credit losses of $0.5 billion, primarily driven by a credit reserve release in Single-Family due to improvements in house prices.

•New business activity of $73 billion, down 3% year-over-year, as both home purchase and refinance activity were affected by higher mortgage interest rates. Full-year 2023 activity of $300 billion, down 45% year-over-year.

•Mortgage portfolio of $3.0 trillion, up 2% year-over-year, as portfolio growth moderated in 2023 due to the slowdown in new business activity.

•Serious delinquency rate of 0.55%, down from 0.66% at December 31, 2022.

•Completed approximately 19,000 loan workouts.

•61% of mortgage portfolio covered by credit enhancements.

•New business activity of $16 billion, down 45% year-over-year, as higher mortgage interest rates have reduced demand for multifamily financing. Full-year 2023 activity of $48 billion, down 34% year-over-year.

•Mortgage portfolio of $441 billion, up 3% year-over-year, as portfolio growth moderated in 2023 due to the slowdown in new business activity.

•Delinquency rate of 0.28%, up from 0.12% at December 31, 2022.

•94% of mortgage portfolio covered by credit enhancements.

“In 2023, Freddie Mac delivered on its mission, achieved solid financial results, and meaningfully increased its net worth. The company helped more than 1.4 million families buy, refinance, or rent a home, and worked with lenders to reach more borrowers in underserved areas. Freddie Mac also set a new milestone, financing a higher proportion of loans for first-time homebuyers than in any year since we started tracking that statistic three decades ago.”

Michael J. DeVito

Chief Executive Officer

Net Revenues

$5.4 Billion

Net Income

$2.9 Billion

Comprehensive

Income

$3.1 Billion

Single-Family

Net Revenues

$4.8 Billion

Net Income

$2.7 Billion

Comprehensive

Income

$2.7 Billion

Multifamily

Net Revenues

$0.6 Billion

Net Income

$0.3 Billion

Comprehensive

Income

$0.4 Billion

The following information was filed by Federal Home Loan Mortgage Corp (FMCC) on Wednesday, February 14, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Federal Home Loan Mortgage Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2024 10-K Annual Report includes:

Voting Procedures
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Executive Team
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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Federal Home Loan Mortgage Corp provided additional information to their SEC Filing as exhibits

Exhibit 4.30: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.36: Material Contract

Exhibit 10.37: Material Contract

Exhibit 24.1: Power Of Attorney

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: FMCC
CIK: 1026214
Form Type: 10-K Annual Report
Accession Number: 0001026214-24-000025
Submitted to the SEC: Wed Feb 14 2024 7:54:29 AM EST
Accepted by the SEC: Wed Feb 14 2024
Period: Sunday, December 31, 2023
Industry: Federal And Federally Sponsored Credit Agencies

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Federal Home Loan Mortgage Corp (FMCC) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, December 31, 2023

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