fmcc-20250731
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 31, 2025
Federal Home Loan Mortgage Corporation
(Exact name of registrant as specified in its charter)
Freddie Mac
Federally chartered
corporation		 001-34139 52-0904874
(State or other jurisdiction of
incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)

8200 Jones Branch Drive
McLean,Virginia22102-3110
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (703) 903-2000
Not applicable
 
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
NoneN/AN/A
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02. Results of Operations and Financial Condition.
On July 31, 2025, Freddie Mac (formally known as the Federal Home Loan Mortgage Corporation) announced its results of operations for the quarter ended June 30, 2025. A copy of the related press release for the quarter ended June 30, 2025 is being filed as Exhibit 99.1 to this report and is incorporated herein by reference. In addition, a copy of the Second Quarter 2025 Financial Results Supplement is being furnished as Exhibit 99.2 to this report and is incorporated herein by reference.
Exhibit 99.1 submitted herewith shall be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934.
Exhibit 99.2 submitted herewith shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of Section 18, nor shall it be deemed to be incorporated by reference into any disclosure document relating to Freddie Mac, except to the extent, if any, expressly set forth by specific reference in such document.  
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The exhibits listed in the Exhibit Index below are being filed or furnished as part of this Current Report on Form 8-K:
 
Exhibit Number  Description of Exhibit
    
99.1  
99.2  
104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

























__________________________________________________________________________________________________________
Freddie Mac Form 8-K


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
FEDERAL HOME LOAN MORTGAGE CORPORATION
By:/s/James Whitlinger
 James Whitlinger
 Executive Vice President and Chief Financial Officer
Date: July 31, 2025























__________________________________________________________________________________________________________
Freddie Mac Form 8-K

cc_ptx17691xheader-release.jpg
Exhibit 99.1
Freddie Mac Reports Net Income of $2.4 Billion for Second Quarter 2025
Making Home Possible for 363,000 Households in Second Quarter 2025
•Financed 264,000 mortgages, with 53% of eligible loans affordable to low- to moderate-income families.
•First-time homebuyers represented 53% of new single-family home purchase loans.
•Financed 99,000 rental units, with 95% of eligible units affordable to low- to moderate-income families.
Second Quarter 2025 Financial Results
During Second Quarter 2025As of June 30, 2025
Market Liquidity Provided -
$106 Billion
Homes and Rental Units Financed -
363,000

Net Worth -
$65 Billion

Total Mortgage
 Portfolio -
$3.6 Trillion

Consolidated
•Net income of $2.4 billion, down 14% year-over-year, primarily driven by an increase in the provision for credit losses.
•Net revenues of $5.9 billion, a decrease of 1% year-over-year, primarily driven by lower non-interest income, partially offset by higher net interest income.
•Provision for credit losses of $0.8 billion, primarily driven by a credit reserve build in Single-Family.
•New business activity of $94 billion, up from $85 billion in the second quarter of 2024.
•Mortgage portfolio of $3.1 trillion, up 2% year-over-year.
•Serious delinquency rate of 0.55%, down from 0.59% at December 31, 2024 and up from 0.50% at June 30, 2024.
•Completed approximately 24,000 loan workouts.

•New business activity of $12 billion, up from $11 billion in the second quarter of 2024.
•Mortgage portfolio of $466 billion, up 4% year-over-year.
•Delinquency rate of 0.47%, up from 0.40% at December 31, 2024 and up from 0.38% at June 30, 2024.

"U.S. Federal Housing is transforming Freddie Mac, making it more efficient and effective, and improving productivity over time. We grew the business in the second quarter, with our mortgage portfolio ending at $3.6 trillion. Earnings for the quarter reflected that growth, as well as the reserve we added to manage our portfolio safely and soundly. The quarter’s $2.4 billion of earnings further enhanced our safety, taking Freddie Mac’s net worth to nearly $65 billion. Overall, the company served more than 360,000 homebuyers and renters in the quarter, with 53% of the homes and 95% of rental units affordable to low- and middle-class families."

William J. Pulte,
Director, U.S. Federal Housing
and Chair of the Board of
Directors, Freddie Mac
Net Revenues
$5.9 Billion
Net Income
$2.4 Billion
Comprehensive
Income
$2.4 Billion
Single-Family
Net Revenues
$5.1 Billion
Net Income
$2.1 Billion
Comprehensive
Income
$2.1 Billion
Multifamily
Net Revenues
$0.8 Billion
Net Income
$0.3 Billion
Comprehensive
Income
$0.3 Billion

Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 2


McLean, VA — Freddie Mac (OTCQB: FMCC) today reported net income of $2.4 billion for the second quarter of 2025, down 14% from the second quarter of 2024, primarily driven by an increase in the provision for credit losses.
Net revenues were $5.9 billion for the second quarter of 2025, down 1% year-over-year, primarily driven by lower non-interest income, partially offset by higher net interest income. Net interest income for the second quarter of 2025 was $5.3 billion, up 8% year-over-year, primarily driven by continued mortgage portfolio growth and lower funding costs, partially offset by lower yields on short-term investments. Non-interest income for the second quarter of 2025 was $0.6 billion, down 42% year-over-year, primarily driven by Multifamily.
Provision for credit losses was $0.8 billion for the second quarter of 2025, primarily driven by a credit reserve build in Single-Family attributable to lower estimated market values of single-family properties based on the company's internal house price index and lower forecasted house price growth rates. The provision for credit losses of $0.4 billion for the second quarter of 2024 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions.
Summary of Consolidated Statements of Income and Comprehensive Income
(Dollars in millions)
2Q 20251Q 2025Change2Q 2024Change
Net interest income$5,299$5,102$197$4,928$371
Non-interest income617750(133)1,060(443)
Net revenues5,9165,852645,988 (72)
(Provision) benefit for credit losses(783)(280)(503)(394)(389)
Non-interest expense(2,158)(2,088)(70)(2,134)(24)
Income before income tax expense2,9753,484(509)3,460 (485)
Income tax expense(588)(690)102(695)107
Net income2,3872,794(407)2,765(378)
Other comprehensive income (loss), net of taxes and reclassification adjustments2134(13)(5)26
Comprehensive income$2,408$2,828($420)$2,760($352)
Conservatorship metrics (in millions)
Net worth$64,811$62,403$2,408$53,223$11,588
Senior preferred stock liquidation preference135,051132,2232,828123,11111,940
Remaining Treasury funding commitment140,162140,162—140,162—
Cumulative dividend payments to Treasury119,680119,680—119,680—
Cumulative draws from Treasury71,64871,648—71,648—



Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 3


Single-Family Segment
Financial Results
Net Revenues
(In billions)
chart-fb87a216b109492fa7b.jpg
Net Income
(In billions)
chart-c424b38626ab4750a6d.jpg
Comprehensive Income
(In billions)
chart-1d2015047bcd4d04b72.jpg

(Dollars in millions)2Q 20251Q 2025Change2Q 2024Change
Net interest income$4,898$4,753$145$4,635$263
Non-interest income23716572459(222)
Net revenues5,1354,9182175,09441
(Provision) benefit for credit losses(622)(228)(394)(315)(307)
Non-interest expense(1,905)(1,871)(34)(1,921)16
Income before income tax expense2,6082,819(211)2,858(250)
Income tax expense(516)(558)42(574)58
Net income2,0922,261(169)2,284(192)
Other comprehensive income (loss), net of taxes and reclassification adjustments981(5)14 
Comprehensive income$2,101$2,269($168)$2,279($178)
Second Quarter 2025
Net income of $2.1 billion, down 8% year-over-year.
•Net revenues were $5.1 billion, up 1% year-over year. Net interest income was $4.9 billion, up 6% year-over-year, primarily driven by continued mortgage portfolio growth and lower funding costs, partially offset by lower yields on short-term investments.
•Provision for credit losses was $0.6 billion for the second quarter of 2025, primarily driven by a credit reserve build attributable to lower estimated market values of single-family properties based on the company's internal house price index and lower forecasted house price growth rates. The provision for credit losses of $0.3 billion for the second quarter of 2024 was primarily driven by a credit reserve build attributable to new acquisitions.


Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 4


Single-Family Segment
Business Results
New Business Activity
(UPB in billions)
chart-75b198aa5d4a4b3eb3b.jpg



Mortgage Portfolio
(UPB in billions)
chart-a09d53fb38ab48fcb9f.jpg




Serious Delinquency Rate
chart-d7d256cbdb334579877.jpg
2Q 20251Q 2025Change2Q 2024Change
New Business Statistics:
Single-Family homes funded (in thousands)264 224 402577
Purchase borrowers (in thousands)206 171 35212(6)
Refinance borrowers (in thousands)58 53 54513
Affordable to low- to moderate-income families (%)(1)(2)
53 53 — 53 — 
First-time homebuyers (%)(3)
53 52 1 53 — 
Average estimated guarantee fee rate (bps)54 54 —54—
Weighted average original loan-to-value (LTV) (%)77 77 — 78 (1)
Weighted average original credit score759 756 37545
Portfolio Statistics:
Average estimated guarantee fee rate (bps) 4949—49—
Weighted average current LTV (%)53 52 1 52 1 
Weighted average current credit score754754—755(1)
Loan count (in millions)13.913.9—13.80.1
Credit-Related Statistics:
Loan workout activity (in thousands)2425(1)186
Allowance for credit losses to total loans outstanding (%)(4)
0.23 0.21 0.02 0.21 0.02 
Credit enhancement coverage (%)62 62 — 62 — 
(1) Eligible loans acquired affordable to families earning at or below 120% of area median income (AMI).
(2) First quarter 2025 data revised to reflect results based on updated AMI data provided by FHFA in the second quarter of 2025.
(3) Calculated as a percentage of purchase borrowers with loans secured by primary residences.
(4) Calculated as the allowance for credit losses on mortgage loans held-for-investment divided by the amortized cost basis of mortgage loans held-for-investment for which the fair value option has not been elected.
Business Highlights
•New business activity of $94 billion, up from $85 billion in the second quarter of 2024, primarily driven by an increase in refinance activity. Financed 264,000 mortgages and enabled 100,000 first-time homebuyers to purchase a home.

Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 5



Multifamily Segment
Financial Results

Net Revenues
(In billions)
chart-e7e9b3635f3042a3aac.jpg





Net Income
(In billions)chart-b056c7d20d904bf18b9.jpg



Comprehensive Income
(In billions)
chart-f549114edc304782ac5.jpg

(Dollars in millions)2Q 20251Q 2025Change2Q 2024Change
Net interest income$401$349$52$293$108
Non-interest income380585(205)601(221)
Net revenues781934(153)894 (113)
(Provision) benefit for credit losses(161)(52)(109)(79)(82)
Non-interest expense(253)(217)(36)(213)(40)
Income before income tax expense367665(298)602 (235)
Income tax expense(72)(132)60(121)49
Net income295533(238)481 (186)
Other comprehensive income (loss), net of taxes and reclassification adjustments1226(14)— 12
Comprehensive income$307$559($252)$481($174)
Second Quarter 2025
Net income of $0.3 billion, down 39% year-over-year.
•Net revenues were $0.8 billion for the second quarter of 2025, down 13% year-over-year.
◦Net interest income was $0.4 billion, up 37% year-over-year, primarily driven by the change in the company's Multifamily business strategy that resulted in an increase in the volume of fully guaranteed securitizations.
◦Non-interest income was $0.4 billion, down 37% year-over-year, primarily driven by lower revenues from held-for-sale loan purchase and securitization activities and impacts from interest-rate risk management activities.
•Provision for credit losses was $0.2 billion for the second quarter of 2025, primarily driven by a credit reserve build attributable to new loan purchase commitment and acquisition activity, coupled with deterioration in the credit performance of certain delinquent loans.





Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 6


Multifamily Segment
Business Results
New Business Activity
(UPB in billions)
chart-8b7617c71f7e42b1afc.jpg
Mortgage Portfolio        
(UPB in billions)
chart-5752880fe4e04c08979.jpg
Delinquency Rate
chart-bad48c11860d4e10ad6.jpg


2Q 20251Q 2025Change2Q 2024Change
New Business Statistics:
Number of rental units financed (in thousands)(1)
998910927
Affordable to low-income families (%)(2)(4)
74 75 (1)65 9 
Affordable to low- to moderate-income families (%)(3)(4)
95 94 1 93 2 
Weighted average original LTV (%)62 62 — 611 
Weighted average original debt service coverage ratio(5)
1.341.300.041.280.06
Securitization Statistics:
Securitization issuance (UPB in billions)$14$16($2)$11$3
Senior subordinate97 272
Fully guaranteed59 (4)41
Portfolio Statistics:
Average guarantee fee rate charged (bps) at period end53521485
Credit-Related Statistics:
Allowance for credit losses to total loans outstanding (%)(6)
0.52 0.49 0.03 0.61 (0.09)
Credit enhancement coverage (%)92 93 (1)95 (3)
(1) Includes rental units financed by supplemental loans.
(2) Eligible units acquired affordable to families earning at or below 80% of AMI.
(3) Eligible units acquired affordable to families earning at or below 120% of AMI.
(4) First quarter 2025 data revised to reflect results based on updated AMI data provided by FHFA in the second quarter of 2025.
(5) Assumes monthly payments that reflect amortization of principal.
(6) Calculated as the allowance for credit losses on mortgage loans held-for-investment divided by the amortized cost basis of mortgage loans held-for-investment for which the fair value option has not been elected.
Business Highlights
•The company provided financing for 99,000 multifamily rental units in the second quarter of 2025. 74% of the eligible multifamily rental units financed in the second quarter of 2025 were affordable to low-income families.
•The Multifamily delinquency rate increased to 0.47% at June 30, 2025, from 0.38% at June 30, 2024, primarily driven by an increase in delinquent floating rate loans and small balance loans.


Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 7


About Freddie Mac’s Conservatorship
Since September 2008, Freddie Mac has been operating under conservatorship with FHFA as Conservator. The support provided by Treasury pursuant to the Purchase Agreement enables the company to maintain access to the debt markets and have adequate liquidity to conduct its normal business operations. The amount of funding available to Freddie Mac under the Purchase Agreement was $140.2 billion at June 30, 2025.
Pursuant to the Purchase Agreement, Freddie Mac will not be required to pay a dividend to Treasury on the senior preferred stock until it has built sufficient capital to meet the capital requirements and buffers set forth in the Enterprise Regulatory Capital Framework. As a result, the company was not required to pay a dividend to Treasury on the senior preferred stock in June 2025. As the company builds capital during this period, the quarterly increases in its Net Worth Amount have been, or will be, added to the aggregate liquidation preference of the senior preferred stock. The liquidation preference of the senior preferred stock increased to $135.1 billion on June 30, 2025 based on the increase in the Net Worth Amount during the first quarter of 2025, and will increase to $137.5 billion on September 30, 2025 based on the increase in the Net Worth Amount during the second quarter of 2025.
Additional Information
For more information, including information related to Freddie Mac’s financial results, conservatorship, and related matters, see the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 and the company’s Second Quarter 2025 Financial Results Supplement. These documents are available on the Investor Relations page of the company’s website at www.FreddieMac.com.
Additional information about Freddie Mac and its business is also set forth in the company’s other filings with the SEC, which are available on the Investor Relations page of the company’s website at www.FreddieMac.com and the SEC’s website at www.sec.gov. Freddie Mac encourages all investors and interested members of the public to review these materials for a more complete understanding of the company’s financial results and related disclosures.
Webcast Announcement
Management will host a conference call at 9 a.m. Eastern Time on July 31, 2025 to share the company’s results with the media. The conference call will be concurrently webcast. To access the audio webcast, use the following link: https://edge.media-server.com/mmc/p/ode2tsd4. The replay will be available on the company’s website at www.FreddieMac.com for approximately 30 days. All materials related to the call will be available on the Investor Relations page of the company’s website at www.FreddieMac.com.
Media Contact: Frederick Solomon (703) 903-3861Investor Contact: Mahesh Lal (571) 382-4732  
*    *    *    *
This press release contains forward-looking statements, which may include statements pertaining to the conservatorship, the company’s current expectations and objectives for its Single-Family and Multifamily segments, its efforts to assist the housing market, liquidity and capital management, economic and market conditions and trends including, but not limited to, changes in house prices and house price forecasts, its market coverage, the effect of legislative and regulatory developments and new accounting guidance, the credit quality of loans the company owns or guarantees, the costs and benefits of the company’s CRT transactions, the impact of banking crises or failures, the effects of natural disasters or catastrophic events and actions taken in response thereto on its business, results of operations, and financial condition. 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 a number of assumptions, judgments, and estimates, and various factors, including changes in economic and market conditions, liquidity, mortgage spreads, credit outlook, actions by the U.S. government (including FHFA, Treasury, and Congress) and state and local governments, changes in the fiscal and monetary policies of the Federal Reserve, the impact of any downgrade in our credit ratings or those of the U.S. government, and the impacts of legislation or regulations and new or amended accounting guidance, that could cause actual results to differ materially from these expectations. These assumptions, judgments, estimates, and factors are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, and Current Reports on Form 8-K, which are available on the Investor Relations page of the

Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 8


company’s website at www.FreddieMac.com and the SEC’s website at www.sec.gov. The company undertakes no obligation to update forward-looking statements it makes to reflect events or circumstances occurring after the date of this press release.
Freddie Mac's mission is to make home possible for families across the nation. Freddie Mac promotes liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, Freddie Mac has helped tens of millions of families buy, rent or keep their home.


Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 9


FREDDIE MAC
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)
(In millions, except share-related amounts)
2Q 20251Q 20252Q 2024
Net interest income
Interest income$32,048$31,365$29,064
Interest expense(26,749)(26,263)(24,136)
Net interest income5,299 5,102 4,928 
Non-interest income
Guarantee income398 440 383 
Investment gains, net119 192 549 
Other income100 118 128 
Non-interest income617 750 1,060 
Net revenues5,916 5,852 5,988 
(Provision) benefit for credit losses(783)(280)(394)
Non-interest expense
Salaries and employee benefits(453)(423)(420)
Professional services, technology, and occupancy(295)(253)(269)
Credit enhancement expense(511)(540)(588)
Legislative and regulatory assessments(825)(817)(802)
Other expense(74)(55)(55)
Non-interest expense(2,158)(2,088)(2,134)
Income before income tax expense2,975 3,484 3,460 
Income tax expense(588)(690)(695)
Net income2,387 2,794 2,765 
Other comprehensive income (loss), net of taxes and reclassification adjustments21 34 (5)
Comprehensive income$2,408$2,828$2,760
Net income$2,387$2,794$2,765
Amounts attributable to senior preferred stock(2,408)(2,828)(2,760)
Net income (loss) attributable to common stockholders($21)($34)$5
Net income (loss) per common share($0.01)($0.01)$0.00
Weighted average common shares (in millions)3,234 3,234 3,234 


Freddie Mac Second Quarter 2025 Financial Results
July 31, 2025
Page 10


FREDDIE MAC
Condensed Consolidated Balance Sheets (Unaudited)
June 30,December 31,
(In millions, except share-related amounts)
20252024
Assets
Cash and cash equivalents (includes $1,137 and $1,165 of restricted cash and cash equivalents)
$4,267$5,534
Securities purchased under agreements to resell95,451 100,118 
Investment securities, at fair value82,850 55,771 
Mortgage loans held-for-sale (includes $3,867 and $11,394 at fair value)
6,300 15,560 
Mortgage loans held-for-investment (net of allowance for credit losses of $7,729 and $6,774 and includes $4,424 and $2,413 at fair value)
3,206,974 3,172,329 
Accrued interest receivable11,583 11,029 
Deferred tax assets, net5,005 5,018 
Other assets (includes $6,166 and $5,870 at fair value)
23,850 21,333 
Total assets$3,436,280$3,386,692
Liabilities and equity
Liabilities
Accrued interest payable$10,226$9,822
Debt (includes $2,693 and $2,339 at fair value)
3,349,274 3,304,949 
Other liabilities (includes $967 and $978 at fair value)
11,969 12,346 
Total liabilities3,371,469 3,327,117 
Commitments and contingencies
Equity
Senior preferred stock (liquidation preference of $135,051 and $129,038)
72,648 72,648 
Preferred stock, at redemption value14,109 14,109 
Common stock, $0.00 par value, 4,000,000,000 shares authorized, 725,863,886 shares issued and 650,059,553 shares outstanding
— — 
Retained earnings(18,089)(23,270)
AOCI, net of taxes, related to:
Available-for-sale securities 113 66 
Other(85)(93)
Total AOCI, net of taxes28 (27)
Treasury stock, at cost, 75,804,333 shares
(3,885)(3,885)
Total equity64,811 59,575 
Total liabilities and equity$3,436,280$3,386,692
The table below presents the carrying value and classification of the assets and liabilities related to consolidated variable interest entities (VIEs) on the company's condensed consolidated balance sheets.
June 30,December 31,
(In millions)20252024
Assets
Cash and cash equivalents (includes $1,037 and $1,055 of restricted cash and cash equivalents)
$1,037$1,056 
Securities purchased under agreements to resell14,20412,764 
Investment securities, at fair value281
Mortgage loans held-for-investment, net3,145,9133,114,937
Accrued interest receivable10,3169,900 
Other assets7,106 5,881 
Total assets of consolidated VIEs$3,178,604$3,144,539
Liabilities
Accrued interest payable$8,877$8,469
Debt3,155,3973,122,941
Total liabilities of consolidated VIEs$3,164,274$3,131,410

© Freddie Mac Second Quarter 2025 Financial Results Supplement July 31, 2025 Exhibit 99.2

 
© Freddie Mac 2 Financial Highlights $6.0 $5.8 $6.3 $5.9 $5.9 $2.8 $3.1 $3.2 $2.8 $2.4 Net revenues Net income 2Q24 3Q24 4Q24 1Q25 2Q25 Net revenues and net income $ Billions ▪ Net income of $2.4 billion for the second quarter of 2025, down 14% from the second quarter of 2024, primarily driven by an increase in the provision for credit losses. ▪ Net revenues of $5.9 billion for the second quarter of 2025, a decrease of 1% year-over-year, primarily driven by lower non-interest income, partially offset by higher net interest income.

 
© Freddie Mac 3 $3,506 $3,534 $3,571 $3,582 $3,593 $3,058 $3,082 $3,104 $3,115 $3,127 $447 $452 $467 $467 $466 Single-Family mortgage portfolio Multifamily mortgage portfolio 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 Mortgage Portfolio Balances Mortgage portfolio1 UPB in $ Billions 2% YoY increase 4% YoY increase 2% YoY increase ▪ Total mortgage portfolio increased 2% year-over-year to $3.6 trillion, driven by a 2% increase in the Single- Family mortgage portfolio and a 4% increase in the Multifamily mortgage portfolio.

 
© Freddie Mac 4 $64.8 $135.1 $140.2 Net worth Senior preferred stock liquidation preference Remaining Treasury funding commitment As of June 30, 2025 Conservatorship Matters Pursuant to the Purchase 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). Draws and dividend payments $ Billions Net worth, liquidation preference, and Treasury funding commitment $ Billions $71.6 $119.7 Cumulative draws from Treasury Cumulative dividend payments to Treasury As of June 30, 2025 2

 
© Freddie Mac 5 National home prices3 increased by an average of 2% over the past year 6.86% 6.08% 6.85% 6.65% 6.77% 5.34% 5.16% 4.53% 4.33% 4.32% 30-year mortgage rate, based on Primary Mortgage Market Survey (PMMS) SOFR 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 Key Economic Indicators Quarterly ending interest rates SOFR interest rates are 30-day average rates.

 
© Freddie Mac 6 $3,058 $3,082 $3,104 $3,115 $3,127 2Q24 3Q24 4Q24 1Q25 2Q25 1.12% 1.05% 1.10% 0.96% 1.04% 0.25% 0.27% 0.31% 0.26% 0.26% 0.50% 0.54% 0.59% 0.59% 0.55% One month past due Two months past due Seriously delinquent 2Q24 3Q24 4Q24 1Q25 2Q25 $85 $98 $100 $78 $94 $74 $84 $74 $62 $76 $11 $14 $26 $16 $18 54 57 55 54 54 Home purchase Refinance 2Q24 3Q24 4Q24 1Q25 2Q25 Single-Family Financial Highlights and Key Metrics $5.1 $5.1 $5.2 $4.9 $5.1 $2.3 $2.6 $2.6 $2.3 $2.1 Net revenues Net income 2Q24 3Q24 4Q24 1Q25 2Q25 Net revenues and net income $ Billions 2% YoY increase Mortgage portfolio UPB in $ Billions Average estimated guarantee fee rate on new acquisitions (bps)4 Delinquency rates New business activity UPB in $ Billions

 
© Freddie Mac 7 78% 77% 77% 77% 77% 2Q24 3Q24 4Q24 1Q25 2Q25 87% 86% 74% 79% 81% 8% 8% 9% 11% 8% 5% 6% 17% 10% 11% Home purchase Cash-out refinance Other refinance 2Q24 3Q24 4Q24 1Q25 2Q25 754 755 756 756 759 2Q24 3Q24 4Q24 1Q25 2Q25 31% 29% 28% 30% 28% 2Q24 3Q24 4Q24 1Q25 2Q25 New business activity with debt-to-income ratio > 45% Weighted average original loan-to-value ratio (OLTV) Weighted average original credit score Single-Family Loan Purchase Credit Characteristics Loan purpose

 
© Freddie Mac 8 UPB covered by new CRT issuance $ Billions $43 $44 $36 $63 $41 2Q24 3Q24 4Q24 1Q25 2Q25 Mortgage portfolio with credit enhancement UPB in $ Billions Single-Family Credit Risk Transfer $1,900 $1,897 $1,914 $1,927 $1,929 62% 62% 62% 62% 62% UPB Percentage 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25

 
© Freddie Mac 9 $11 $15 $30 $10 $12 2Q24 3Q24 4Q24 1Q25 2Q25 0.38% 0.47%0.50% 1.05%1.26% 2.36% Freddie Mac (60+ day) FDIC insured institutions (90+ day) MF CMBS market (60+ day) 2Q24 3Q24 4Q24 1Q25 2Q25 Multifamily delinquency rates $447 $452 $467 $467 $466 2Q24 3Q24 4Q24 1Q25 2Q25 Multifamily Financial Highlights and Key Metrics $0.9 $0.8 $1.1 $0.9 $0.8 $0.5 $0.5 $0.7 $0.5 $0.3 Net revenues Net income 2Q24 3Q24 4Q24 1Q25 2Q25 (89 %) New business activity UPB in $ Billions 4% YoY increase The delinquency rate for FDIC insured institutions is as of March 31, 2025 (latest available information). Mortgage portfolio UPB in $ Billions Net revenues and net income $ Billions

 
© Freddie Mac 10 Acquisitions of units by area median income (AMI) (% of eligible units acquired) 32% 39% 28% 43% 39% 33% 29% 37% 32% 35% 28% 26% 28% 19% 21% 7% 6% 7% 6% 5% ≤60% >60% to ≤80% >80% to ≤120% >120% 2Q24 3Q24 4Q24 1Q25 2Q25 Weighted average ODSCR assumes monthly payments that reflect amortization of principal. 1.28 1.28 1.30 1.30 1.34 61% 63% 64% 62% 62% Weighted average ODSCR Weighted average OLTV ratio 2Q24 3Q24 4Q24 1Q25 2Q25 Multifamily New Business Characteristics (89 %) Weighted average original debt service coverage ratio (ODSCR) and weighted average OLTV ratio First quarter 2025 data revised to reflect results based on updated AMI data provided by FHFA in the second quarter of 2025.

 
© Freddie Mac 11 $423 $421 $425 $434 $431 95% 93% 91% 93% 92% UPB Percentage 06/30/24 09/30/24 12/31/24 03/31/25 06/30/25 Mortgage portfolio with credit enhancement UPB in $ Billions $14 $7 $18 $18 $9 2Q24 3Q24 4Q24 1Q25 2Q25 Multifamily Credit Risk Transfer UPB covered by new CRT issuance $ Billions

 
© Freddie Mac 12 18 18 20 25 24 4 5 6 7 5 8 6 8 11 8 6 7 6 7 11 Forbearance plans and other Payment deferral plans Loan modifications 2Q24 3Q24 4Q24 1Q25 2Q25 Number of families Freddie Mac helped to own or rent a home5 In Thousands Housing Market Support 349 415 539 313 363 45 49 82 53 58 212 235 212 171 206 92 131 245 89 99 Single-Family refinance borrowers Single-Family home purchase borrowers Multifamily rental units 2Q24 3Q24 4Q24 1Q25 2Q25 Other includes repayment plans and foreclosure alternatives. 7 Number of Single-Family loan workouts6 In Thousands 7 7

 
© Freddie Mac 13 Endnotes 1 Based on unpaid principal balances (UPB) of mortgage loans held-for-investment, mortgage loans held-for-sale, and mortgage loans underlying our mortgage-related guarantees. 2 Includes the initial $1 billion liquidation preference of the senior preferred stock issued to Treasury in September 2008, the $71.6 billion of draws from Treasury, and the $62.4 billion in increases to our Net Worth Amount pursuant to the Purchase Agreement. 3 Based on the Freddie Mac House Price Index. The Freddie Mac House Price Index for the U.S. is a value-weighted average of the state indexes where the value weights are based on Freddie Mac’s single-family credit guarantee portfolio. Other indices of home prices may have different results, as they are determined using different pools of mortgage loans and calculated under different conventions. The Freddie Mac House Price Index for the U.S. is a seasonally-adjusted monthly series. Percent changes were rounded to nearest whole percentage point. 4 Represents the estimated average rate of guarantee fees for new acquisitions during the period assuming amortization of upfront fees using the estimated life of the related loans rather than the original contractual maturity date of the related loans. Net of the legislated 10 basis point fee remitted to Treasury pursuant to the Temporary Payroll Tax Cut Continuation Act of 2011 as extended by the Infrastructure Investment and Jobs Act. 5 Based on the company’s purchases of loans and issuances of mortgage-related securities. For the periods presented, a single-family borrower may be counted more than once if the company purchased more than one loan (purchase or refinance mortgage) relating to the same borrower. For Multifamily, rental units include units financed by supplemental loans. 6 Consists of both home retention actions and foreclosure alternatives. 7 Categories are not mutually exclusive, and a borrower in one category may also be included in another category in the same or another period. For example, a borrower helped through a home retention action in one period may subsequently lose his or her home through a foreclosure alternative in a later period.

 
© Freddie Mac 14 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 agency or instrumentality other than Freddie Mac. No offer or solicitation of securities This presentation includes information related to, or referenced in the offering documentation for, certain Freddie Mac securities, including offering circulars and related supplements and agreements. Freddie Mac securities may not be eligible for offer or sale in certain jurisdictions or to certain persons. This information is provided for your general information only, is current only as of its specified date and does not constitute an offer to sell or a solicitation of an offer to buy securities. The information does not constitute a sufficient basis for making a decision with respect to the purchase or sale of any security. All information regarding or relating to Freddie Mac securities is qualified in its entirety by the relevant offering circular and any related supplements. Investors should review the relevant offering circular and any related supplements before making a decision with respect to the purchase or sale of any security. In addition, before purchasing any security, please consult your legal and financial advisors for information about and analysis of the security, its risks and its suitability as an investment in your particular circumstances. Forward-looking statements Freddie Mac's presentations may contain forward-looking statements, which may include statements pertaining to the conservatorship, the company’s current expectations and objectives for its Single-Family and Multifamily segments, its efforts to assist the housing market, liquidity and capital management, economic and market conditions and trends including, but not limited to, changes in house prices and house price forecasts, its market coverage, the effect of legislative and regulatory developments and new accounting guidance, the credit quality of loans the company owns or guarantees, the costs and benefits of the company’s CRT transactions, the impact of banking crises or failures, the effects of natural disasters or catastrophic events and actions taken in response thereto on its business, results of operations, and financial condition. 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 a number of assumptions, judgments, and estimates, and various factors, including changes in economic and market conditions, liquidity, mortgage spreads, credit outlook, actions by the U.S. government (including FHFA, Treasury, and Congress) and state and local governments, changes in the fiscal and monetary policies of the Federal Reserve, the impact of any downgrade in our credit ratings or those of the U.S. government, and the impacts of legislation or regulations and new or amended accounting guidance, that could cause actual results to differ materially from these expectations. These assumptions, judgments, estimates and factors are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025, and Current Reports on Form 8-K, which are available on the Investor Relations page of the company’s website at www.freddiemac.com and the SEC’s website at www.sec.gov. The company undertakes no obligation to update forward- looking statements it makes to reflect events or circumstances occurring after the date of this presentation.