FMCC 8-K
Federal Home Loan Mortgage Corp (FMCC)
8-K
2026-07-30
For: 2026-07-30
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July 30, 2026
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 30, 2026
(Exact name of registrant as specified in its charter)
Freddie Mac
| Federally chartered corporation | ||||||||||||||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||||||||
Registrant’s telephone number, including area code: (703 ) 903-2003
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 class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| None | N/A | N/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 30, 2026, Freddie Mac (formally known as the Federal Home Loan Mortgage Corporation) announced its results of operations for the quarter ended June 30, 2026. A copy of the related press release is being furnished as Exhibit 99.1 to this report and is incorporated herein by reference. In addition, copies of the Earnings Presentation and Financial Supplement are being furnished as Exhibits 99.2 and 99.3, respectively, to this report and are incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description of Exhibit | |||||||
| 99.1 | ||||||||
| 99.2 | ||||||||
| 99.3 | ||||||||
| 104 | Cover 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 30, 2026
__________________________________________________________________________________________________________
Freddie Mac Form 8-K
| Exhibit 99.1 | ||||||||
Freddie Mac Reports Net Income of $3.8 Billion for Second Quarter 2026
Making Home Possible for 439,000 Households in Second Quarter 2026
•Financed 306,000 mortgages, with 54% of eligible loans affordable to low- to moderate-income families.
•First-time homebuyers represented 52% of new single-family home purchase loans.
•Financed 133,000 rental units, with 91% of eligible units affordable to low- to moderate-income families.
Second Quarter 2026 Financial Results
| During Second Quarter 2026 | As of June 30, 2026 | |||||||||||||||||||
Market Liquidity Provided - $128 Billion | Homes and Rental Units Financed - 439,000 | Net Worth - $78 Billion | Total Mortgage Portfolio - $3.7 Trillion | |||||||||||||||||
| Consolidated | •Net income of $3.8 billion, up 61% year-over-year, primarily driven by a credit reserve release in the current period compared to a credit reserve build in the second quarter of 2025. •Net revenues of $6.0 billion, an increase of 1% year-over-year, primarily driven by higher net interest income, partially offset by lower non-interest income (loss). •Benefit for credit losses of $0.9 billion, primarily driven by a credit reserve release in Single-Family. •New business activity of $110 billion, up from $94 billion in the second quarter of 2025, primarily driven by an increase in refinance activity. •Mortgage portfolio of $3.2 trillion, up 1% year-over-year. •Serious delinquency rate of 0.60%, up from 0.59% at December 31, 2025 and up from 0.55% at June 30, 2025. •New business activity of $18 billion, up from $12 billion in the second quarter of 2025. •Mortgage portfolio of $505 billion, up 8% year-over-year. •Delinquency rate of 0.51%, up from 0.44% at December 31, 2025 and up from 0.47% at June 30, 2025. | "Freddie Mac delivered strong second quarter financial results, reflecting the strength of the business, and disciplined execution against our priorities. Net income was $3.8 billion, driven by strong revenues, a credit benefit, and continued cost discipline. Freddie Mac’s net worth increased to $78 billion at quarter-end. As we advance our mission to make home possible, Freddie Mac remains focused on prudently managing risk, supporting the housing market, and serving families through all parts of the economic cycle." William J. Pulte, Director, U.S. Federal Housing and Chair of the Board of Directors, Freddie Mac "Freddie Mac is working to increase access to housing and help more families achieve the dream of homeownership. In the second quarter, together with lenders of all sizes, we helped nearly 439,000 households buy, refinance or rent a home, including 97,000 first-time homebuyers. Nearly 91% of the rental units and 54% of the single-family homes we supported were affordable to families earning 120% or less of area median income." Kenny Smith, CEO of Freddie Mac | ||||||||||||
Net Revenues $6.0 Billion Net Income $3.8 Billion Comprehensive Income $3.8 Billion | ||||||||||||||
Single-Family | ||||||||||||||
Net Revenues $5.1 Billion Net Income $3.3 Billion Comprehensive Income $3.3 Billion | ||||||||||||||
Multifamily | ||||||||||||||
Net Revenues $0.9 Billion Net Income $0.6 Billion Comprehensive Income $0.6 Billion | ||||||||||||||
Freddie Mac Second Quarter 2026 Financial Results
July 30, 2026
Page 2
McLean, VA — Freddie Mac (OTCQB: FMCC) today reported net income of $3.8 billion for the second quarter of 2026, up 61% from the second quarter of 2025, primarily driven by a credit reserve release in the current period compared to a credit reserve build in the second quarter of 2025.
Net revenues were $6.0 billion for the second quarter of 2026, up 1% year-over-year, primarily driven by higher net interest income, partially offset by lower non-interest income (loss). Net interest income for the second quarter of 2026 was $6.0 billion, up 13% year-over-year, primarily driven by an increase in the balance of fully guaranteed securitizations in the Multifamily mortgage portfolio due to the change in Multifamily business strategy and continued mortgage portfolio growth in Single-Family. Non-interest loss for the second quarter of 2026 was $19 million, down from non-interest income of $0.6 billion in the second quarter of 2025, primarily driven by net investment losses in the second quarter of 2026, compared to net investment gains in the second quarter of 2025, as well as lower guarantee income.
The benefit for credit losses was $0.9 billion for the second quarter of 2026, primarily due to a credit reserve release in Single-Family driven by updates to the company's process for generating future house price scenarios. The 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.
Non-interest expense was $2.1 billion for the second quarter of 2026, down 3% year-over-year, primarily driven by a decrease in salaries and employee benefits.
Summary of Consolidated Statements of Income and Comprehensive Income
(Dollars in millions) | 2Q 2026 | 1Q 2026 | Change | 2Q 2025 | Change | |||||||||||||||||||||||||||
| Net interest income | $6,010 | $5,619 | $391 | $5,299 | $711 | |||||||||||||||||||||||||||
| Non-interest income (loss) | (19) | 514 | (533) | 617 | (636) | |||||||||||||||||||||||||||
| Net revenues | 5,991 | 6,133 | (142) | 5,916 | 75 | |||||||||||||||||||||||||||
| (Provision) benefit for credit losses | 880 | 320 | 560 | (783) | 1,663 | |||||||||||||||||||||||||||
| Non-interest expense | (2,097) | (2,022) | (75) | (2,158) | 61 | |||||||||||||||||||||||||||
| Income before income tax expense | 4,774 | 4,431 | 343 | 2,975 | 1,799 | |||||||||||||||||||||||||||
| Income tax expense | (936) | (873) | (63) | (588) | (348) | |||||||||||||||||||||||||||
| Net income | 3,838 | 3,558 | 280 | 2,387 | 1,451 | |||||||||||||||||||||||||||
| Other comprehensive income (loss), net of taxes and reclassification adjustments | 9 | (20) | 29 | 21 | (12) | |||||||||||||||||||||||||||
| Comprehensive income | $3,847 | $3,538 | $309 | $2,408 | $1,439 | |||||||||||||||||||||||||||
| Conservatorship metrics (in millions) | ||||||||||||||||||||||||||||||||
| Net worth | $77,769 | $73,922 | $3,847 | $64,811 | $12,958 | |||||||||||||||||||||||||||
| Senior preferred stock liquidation preference | 146,570 | 143,032 | 3,538 | 135,051 | 11,519 | |||||||||||||||||||||||||||
| Remaining Treasury funding commitment | 140,162 | 140,162 | — | 140,162 | — | |||||||||||||||||||||||||||
| Cumulative dividend payments to Treasury | 119,680 | 119,680 | — | 119,680 | — | |||||||||||||||||||||||||||
| Cumulative draws from Treasury | 71,648 | 71,648 | — | 71,648 | — | |||||||||||||||||||||||||||
Freddie Mac Second Quarter 2026 Financial Results
July 30, 2026
Page 3
| Single-Family Segment | ||
| Financial Results | ||
Net Revenues
(In billions)
Net Income
(In billions)
Comprehensive Income
(In billions)
(Dollars in millions) | 2Q 2026 | 1Q 2026 | Change | 2Q 2025 | Change | |||||||||||||||||||||||||||
| Net interest income | $5,449 | $5,120 | $329 | $4,898 | $551 | |||||||||||||||||||||||||||
| Non-interest income (loss) | (349) | 55 | (404) | 237 | (586) | |||||||||||||||||||||||||||
| Net revenues | 5,100 | 5,175 | (75) | 5,135 | (35) | |||||||||||||||||||||||||||
| (Provision) benefit for credit losses | 846 | 311 | 535 | (622) | 1,468 | |||||||||||||||||||||||||||
| Non-interest expense | (1,870) | (1,780) | (90) | (1,905) | 35 | |||||||||||||||||||||||||||
| Income before income tax expense | 4,076 | 3,706 | 370 | 2,608 | 1,468 | |||||||||||||||||||||||||||
| Income tax expense | (799) | (730) | (69) | (516) | (283) | |||||||||||||||||||||||||||
| Net income | 3,277 | 2,976 | 301 | 2,092 | 1,185 | |||||||||||||||||||||||||||
| Other comprehensive income (loss), net of taxes and reclassification adjustments | 3 | (13) | 16 | 9 | (6) | |||||||||||||||||||||||||||
| Comprehensive income | $3,280 | $2,963 | $317 | $2,101 | $1,179 | |||||||||||||||||||||||||||
Second Quarter 2026
Net income of $3.3 billion, up 57% year-over-year.
•Net revenues were $5.1 billion, down 1% year-over year.
◦Net interest income was $5.4 billion, up 11% year-over-year, primarily driven by continued mortgage portfolio growth and lower expense related to debt in hedge accounting relationships.
◦Non-interest loss was $0.3 billion, compared to non-interest income of $0.2 billion in the second quarter of 2025, primarily driven by impacts from interest-rate risk management activities.
•The benefit for credit losses was $0.8 billion for the second quarter of 2026, primarily due to a credit reserve release driven by updates to the company's process for generating future house price scenarios. The 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.
•Non-interest expense was $1.9 billion for the second quarter of 2026, down 2% year-over-year, primarily driven by a decrease in salaries and employee benefits.
Freddie Mac Second Quarter 2026 Financial Results
July 30, 2026
Page 4
| Single-Family Segment | ||
| Business Results | ||
New Business Activity
(UPB in billions)
Mortgage Portfolio
(UPB in billions)
Serious Delinquency Rate
| 2Q 2026 | 1Q 2026 | Change | 2Q 2025 | Change | ||||||||||||||||||||||||||||
| New Business Statistics: | ||||||||||||||||||||||||||||||||
| Single-Family homes funded (in thousands) | 306 | 281 | 25 | 264 | 42 | |||||||||||||||||||||||||||
| Purchase borrowers (in thousands) | 200 | 165 | 35 | 206 | (6) | |||||||||||||||||||||||||||
| Refinance borrowers (in thousands) | 106 | 116 | (10) | 58 | 48 | |||||||||||||||||||||||||||
Affordable to low- to moderate-income families (%)(1)(2) | 54 | 53 | 1 | 53 | 1 | |||||||||||||||||||||||||||
First-time homebuyers (%)(3) | 52 | 52 | — | 53 | (1) | |||||||||||||||||||||||||||
| Average estimated guarantee fee rate (bps) | 54 | 54 | — | 54 | — | |||||||||||||||||||||||||||
| Weighted average original loan-to-value (LTV) (%) | 76 | 75 | 1 | 77 | (1) | |||||||||||||||||||||||||||
| Weighted average original credit score | 761 | 758 | 3 | 759 | 2 | |||||||||||||||||||||||||||
| Portfolio Statistics: | ||||||||||||||||||||||||||||||||
| Average estimated guarantee fee rate (bps) | 50 | 50 | — | 49 | 1 | |||||||||||||||||||||||||||
| Weighted average current LTV (%) | 53 | 53 | — | 53 | — | |||||||||||||||||||||||||||
| Weighted average current credit score | 755 | 753 | 2 | 754 | 1 | |||||||||||||||||||||||||||
| Loan count (in millions) | 13.9 | 13.9 | — | 13.9 | — | |||||||||||||||||||||||||||
| Credit-Related Statistics: | ||||||||||||||||||||||||||||||||
| Loan workout activity (in thousands) | 22 | 24 | (2) | 24 | (2) | |||||||||||||||||||||||||||
Allowance for credit losses to total loans outstanding (%)(4) | 0.19 | 0.22 | (0.03) | 0.23 | (0.04) | |||||||||||||||||||||||||||
| Credit enhancement coverage (%) | 61 | 62 | (1) | 62 | (1) | |||||||||||||||||||||||||||
(1) Eligible loans acquired affordable to families earning at or below 120% of area median income (AMI).
(2) First quarter 2026 data revised to reflect results based on updated AMI data provided by FHFA in the second quarter of 2026.
(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 $110 billion, up from $94 billion in the second quarter of 2025, primarily driven by an increase in refinance activity. Financed 306,000 mortgages and enabled 97,000 first-time homebuyers to purchase a home.
Freddie Mac Second Quarter 2026 Financial Results
July 30, 2026
Page 5
| Multifamily Segment | ||
| Financial Results | ||
Net Revenues
(In billions)
Net Income
(In billions)
Comprehensive Income
(In billions)
(Dollars in millions) | 2Q 2026 | 1Q 2026 | Change | 2Q 2025 | Change | |||||||||||||||||||||||||||
| Net interest income | $561 | $499 | $62 | $401 | $160 | |||||||||||||||||||||||||||
| Non-interest income (loss) | 330 | 459 | (129) | 380 | (50) | |||||||||||||||||||||||||||
| Net revenues | 891 | 958 | (67) | 781 | 110 | |||||||||||||||||||||||||||
| (Provision) benefit for credit losses | 34 | 9 | 25 | (161) | 195 | |||||||||||||||||||||||||||
| Non-interest expense | (227) | (242) | 15 | (253) | 26 | |||||||||||||||||||||||||||
| Income before income tax expense | 698 | 725 | (27) | 367 | 331 | |||||||||||||||||||||||||||
| Income tax expense | (137) | (143) | 6 | (72) | (65) | |||||||||||||||||||||||||||
| Net income | 561 | 582 | (21) | 295 | 266 | |||||||||||||||||||||||||||
| Other comprehensive income (loss), net of taxes and reclassification adjustments | 6 | (7) | 13 | 12 | (6) | |||||||||||||||||||||||||||
| Comprehensive income | $567 | $575 | ($8) | $307 | $260 | |||||||||||||||||||||||||||
Second Quarter 2026
Net income of $0.6 billion, up 90% year-over-year.
•Net revenues were $0.9 billion, up 14% year-over-year.
◦Net interest income was $0.6 billion, up 40% year-over-year, primarily driven by an increase in the balance of fully guaranteed securitizations in the Multifamily mortgage portfolio due to the change in Multifamily business strategy.
◦Non-interest income was $0.3 billion, down 13% year-over-year, primarily driven by lower guarantee income and a lower volume of loan sale activities, as the company shifted the Multifamily business model to primarily issue fully guaranteed securitizations.
•The benefit for credit losses was $34 million for the second quarter of 2026. The 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 2026 Financial Results
July 30, 2026
Page 6
| Multifamily Segment | ||
| Business Results | ||
New Business Activity
(UPB in billions)
Mortgage Portfolio
(UPB in billions)
Delinquency Rate
| 2Q 2026 | 1Q 2026 | Change | 2Q 2025 | Change | ||||||||||||||||||||||||||||
| New Business Statistics: | ||||||||||||||||||||||||||||||||
Number of rental units financed (in thousands)(1) | 133 | 99 | 34 | 99 | 34 | |||||||||||||||||||||||||||
Affordable to low-income families (%)(2)(4) | 72 | 74 | (2) | 74 | (2) | |||||||||||||||||||||||||||
Affordable to low- to moderate-income families (%)(3)(4) | 91 | 93 | (2) | 95 | (4) | |||||||||||||||||||||||||||
| Weighted average original LTV (%) | 63 | 65 | (2) | 62 | 1 | |||||||||||||||||||||||||||
Weighted average original debt service coverage ratio(5) | 1.30 | 1.30 | — | 1.34 | (0.04) | |||||||||||||||||||||||||||
| Securitization Statistics: | ||||||||||||||||||||||||||||||||
| Securitization issuance (UPB in billions) | $23 | $24 | ($1) | $14 | $9 | |||||||||||||||||||||||||||
| Senior subordinate | 1 | 1 | — | 9 | (8) | |||||||||||||||||||||||||||
| Fully guaranteed | 22 | 23 | (1) | 5 | 17 | |||||||||||||||||||||||||||
| Portfolio Statistics: | ||||||||||||||||||||||||||||||||
| Average guarantee fee rate charged (bps) at period end | 59 | 58 | 1 | 53 | 6 | |||||||||||||||||||||||||||
| Credit-Related Statistics: | ||||||||||||||||||||||||||||||||
Allowance for credit losses to total loans outstanding (%)(6) | 0.36 | 0.42 | (0.06) | 0.52 | (0.16) | |||||||||||||||||||||||||||
| Credit enhancement coverage (%) | 92 | 91 | 1 | 92 | — | |||||||||||||||||||||||||||
(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 2026 data revised to reflect results based on updated AMI data provided by FHFA in the second quarter of 2026.
(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
•New business activity increased in the second quarter of 2026, primarily driven by a larger new business pipeline entering 2026, coupled with the execution of Multifamily's competitive strategies.
•Provided financing for 133,000 multifamily rental units in the second quarter of 2026. 72% of the eligible multifamily rental units financed in the second quarter of 2026 were affordable to low-income families.
•Securitization issuance UPB increased year-over-year driven by a larger average securitization pipeline. The larger percentage of fully guaranteed securitizations was due to the Multifamily business strategy change.
Freddie Mac Second Quarter 2026 Financial Results
July 30, 2026
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, 2026.
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 2026. 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 $146.6 billion on June 30, 2026 based on the increase in the Net Worth Amount during the first quarter of 2026, and will increase to $150.4 billion on September 30, 2026 based on the increase in the Net Worth Amount during the second quarter of 2026.
Additional Information
For more information, including information related to Freddie Mac’s financial results, conservatorship, and related matters, see the company’s Annual Report on Form 10-K for 2025, Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 and Second Quarter 2026 Earnings Presentation and Second Quarter 2026 Financial Supplement. These documents are available on the Investor Relations page of the company’s website at www.FreddieMac.com.
Additional information about these matters and other 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 30, 2026 to share the company’s results and other information about the company (which may include forward-looking information). The conference call will be concurrently webcast. To access the audio webcast, use the following link: https://edge.media-server.com/mmc/p/rxcgi9vs. 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) 903-3861 | Investor Contact: Mahesh Lal (571) 382-4732 | ||||
* * * *
This press release contains forward-looking statements using terms such as will, expect, forecast, and others that do not refer solely to past periods. These 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, and the effects of economic and market conditions and trends including 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 credit risk transfer (CRT) transactions, the impact of banking crises or failures, and the effects of wars, terrorist incidents, public policy and political developments, cybersecurity incidents, natural disasters or catastrophic events and actions taken in response thereto. Forward-looking statements involve known and unknown risks and uncertainties beyond the company’s control. Management’s expectations necessarily involve assumptions, judgments, and estimates. Various factors could cause actual results to differ materially from those expectations, including changes in economic and market conditions, liquidity, mortgage spreads, credit outlook, actions by the U.S. government (including FHFA, Treasury, the executive branch, and Congress) and state and local governments, changes in the fiscal and monetary policies of the Federal Reserve, the impact of any downgrade in the company's credit ratings or those of the U.S. government, and the impacts of legislation or regulations and new or amended accounting guidance. These
Freddie Mac Second Quarter 2026 Financial Results
July 30, 2026
Page 8
assumptions, judgments, estimates, and factors are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2025 and our subsequent SEC filings, 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 has no obligation to update forward-looking statements to reflect subsequent events or circumstances.
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 2026 Financial Results
July 30, 2026
Page 9
FREDDIE MAC
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)
(In millions, except share-related amounts) | 2Q 2026 | 1Q 2026 | 2Q 2025 | |||||||||||||||||
| Net interest income | ||||||||||||||||||||
| Interest income | $34,275 | $33,650 | $32,048 | |||||||||||||||||
| Interest expense | (28,265) | (28,031) | (26,749) | |||||||||||||||||
| Net interest income | 6,010 | 5,619 | 5,299 | |||||||||||||||||
| Non-interest income (loss) | ||||||||||||||||||||
| Guarantee income | 288 | 320 | 398 | |||||||||||||||||
| Investment gains (losses), net | (426) | 42 | 119 | |||||||||||||||||
| Other income | 119 | 152 | 100 | |||||||||||||||||
| Non-interest income (loss) | (19) | 514 | 617 | |||||||||||||||||
| Net revenues | 5,991 | 6,133 | 5,916 | |||||||||||||||||
| (Provision) benefit for credit losses | 880 | 320 | (783) | |||||||||||||||||
| Non-interest expense | ||||||||||||||||||||
| Salaries and employee benefits | (395) | (376) | (453) | |||||||||||||||||
| Professional services, technology, and occupancy | (281) | (250) | (295) | |||||||||||||||||
| Credit enhancement expense | (507) | (441) | (511) | |||||||||||||||||
| Legislative and regulatory assessments | (840) | (832) | (825) | |||||||||||||||||
| Other expense | (74) | (123) | (74) | |||||||||||||||||
| Non-interest expense | (2,097) | (2,022) | (2,158) | |||||||||||||||||
| Income before income tax expense | 4,774 | 4,431 | 2,975 | |||||||||||||||||
| Income tax expense | (936) | (873) | (588) | |||||||||||||||||
| Net income | 3,838 | 3,558 | 2,387 | |||||||||||||||||
| Other comprehensive income (loss), net of taxes and reclassification adjustments | 9 | (20) | 21 | |||||||||||||||||
| Comprehensive income | $3,847 | $3,538 | $2,408 | |||||||||||||||||
| Net income | $3,838 | $3,558 | $2,387 | |||||||||||||||||
| Amounts attributable to senior preferred stock | (3,847) | (3,538) | (2,408) | |||||||||||||||||
| Net income (loss) attributable to common stockholders | ($9) | $20 | ($21) | |||||||||||||||||
| Net income (loss) per common share | $0.00 | $0.01 | ($0.01) | |||||||||||||||||
| Weighted average common shares (in millions) | 3,234 | 3,234 | 3,234 | |||||||||||||||||
Freddie Mac Second Quarter 2026 Financial Results
July 30, 2026
Page 10
FREDDIE MAC
Condensed Consolidated Balance Sheets (Unaudited)
| June 30, | December 31, | |||||||||||||
(In millions, except share-related amounts) | 2026 | 2025 | ||||||||||||
| Assets | ||||||||||||||
Cash and cash equivalents (includes $1,254 and $1,234 of restricted cash and cash equivalents) | $4,321 | $5,327 | ||||||||||||
| Securities purchased under agreements to resell | 52,406 | 71,919 | ||||||||||||
| Investment securities, at fair value | 84,342 | 85,412 | ||||||||||||
Mortgage loans held-for-sale (includes $2 and $0 at fair value) | 1,361 | 1,014 | ||||||||||||
Mortgage loans held-for-investment (net of allowance for credit losses of $6,771 and $7,968 and includes $6,747 and $7,005 at fair value) | 3,332,294 | 3,290,066 | ||||||||||||
| Accrued interest receivable | 12,473 | 12,254 | ||||||||||||
| Deferred tax assets, net | 4,490 | 5,040 | ||||||||||||
Other assets (includes $6,351 and $6,421 at fair value) | 26,628 | 26,566 | ||||||||||||
| Total assets | $3,518,315 | $3,497,598 | ||||||||||||
| Liabilities and equity | ||||||||||||||
| Liabilities | ||||||||||||||
| Accrued interest payable | $10,955 | $10,597 | ||||||||||||
Debt issued by consolidated trusts (includes $5,991 and $5,841 at fair value) | 3,236,663 | 3,198,008 | ||||||||||||
| Short-term debt | 17,984 | 37,718 | ||||||||||||
Long-term debt (includes $176 and $195 at fair value) | 163,745 | 169,296 | ||||||||||||
Other liabilities (includes $873 and $781 at fair value) | 11,199 | 11,595 | ||||||||||||
| Total liabilities | 3,440,546 | 3,427,214 | ||||||||||||
| Commitments and contingencies | ||||||||||||||
| Equity | ||||||||||||||
Senior preferred stock (liquidation preference of $146,570 and $140,248) | 72,648 | 72,648 | ||||||||||||
| Preferred stock, at redemption value | 14,109 | 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 | (5,143) | (12,539) | ||||||||||||
| AOCI, net of taxes | 40 | 51 | ||||||||||||
Treasury stock, at cost, 75,804,333 shares | (3,885) | (3,885) | ||||||||||||
| Total equity | 77,769 | 70,384 | ||||||||||||
| Total liabilities and equity | $3,518,315 | $3,497,598 | ||||||||||||
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) | 2026 | 2025 | ||||||||||||
| Assets | ||||||||||||||
Cash and cash equivalents (includes $1,132 and $1,136 of restricted cash and cash equivalents) | $1,132 | $1,136 | ||||||||||||
| Securities purchased under agreements to resell | 17,181 | 19,107 | ||||||||||||
| Investment securities, at fair value | 936 | 34 | ||||||||||||
| Mortgage loans held-for-investment, net | 3,253,768 | 3,198,847 | ||||||||||||
| Accrued interest receivable | 11,216 | 10,825 | ||||||||||||
| Other assets | 8,403 | 8,573 | ||||||||||||
| Total assets of consolidated VIEs | $3,292,636 | $3,238,522 | ||||||||||||
| Liabilities | ||||||||||||||
| Accrued interest payable | $9,601 | $9,312 | ||||||||||||
| Debt issued by consolidated trusts | 3,236,663 | 3,198,008 | ||||||||||||
| Other liabilities | 1 | — | ||||||||||||
| Total liabilities of consolidated VIEs | $3,246,265 | $3,207,320 | ||||||||||||
Second Quarter 2026 Earnings Presentation July 30, 2026 Exhibit 99.2
2 2Q 2026 Key Highlights Net Revenues $6.0B Up 1% from $5.9B in 2Q25 Financial Performance 2Q26 Mission Performance 52% First-time homebuyers (Single-Family) $128B Liquidity provided to the mortgage market 439K Households helped to buy, refinance, or rent a home 91% Affordable to low-to-moderate income families (Multifamily) 54% Affordable to low-to-moderate income families (Single-Family) Net Income $3.8B Up 61% from $2.4B in 2Q25 Net Worth $78B Up from $70B as of 4Q25
$3.7T ($3.6T in 2Q25) Mortgage Portfolio 3 2Q 2026 Financial Summary $ Millions 2Q26 1Q26 Var ($) Var (%) 2Q25 Var ($) Var (%) Net revenues $5,991 $6,133 ($142) (2) % $5,916 $75 1 % (Provision) benefit for credit losses 880 320 560 175 (783) 1,663 NM Non-interest expense (2,097) (2,022) (75) (4) (2,158) 61 3 Income before income tax expense 4,774 4,431 343 8 2,975 1,799 60 Income tax expense (936) (873) (63) (7) (588) (348) (59) Net income $3,838 $3,558 $280 8 % $2,387 $1,451 61 % Total assets ($B) $3,518 $3,505 $13 — % $3,436 $82 2 % Net worth ($B) 77.8 73.9 3.9 5 64.8 13.0 20 $6.0B ($5.3B in 2Q25) Net Interest Income 0.69% (0.62% in 2Q25) Net Interest Yield Key Metrics 0.20% (0.24% in 2Q25) Allowance for Credit Losses / Total Loans Outstanding $117B ($109B in 2Q25) Required CET1 Capital
Mortgage Portfolio (UPB in $B) $3,127 $3,141 $3,156 $3,158 $3,172 49 50 50 50 50 Mortgage portfolio Average estimated guarantee fee rate (bps) 2Q25 3Q25 4Q25 1Q26 2Q26 Single-Family Highlights 4 $ Millions 2Q26 1Q26 Var ($) Var (%) 2Q25 Var ($) Var (%) Net revenues $5,100 $5,175 ($75) (1) % $5,135 ($35) (1) % (Provision) benefit for credit losses 846 311 535 172 (622) 1,468 NM Non-interest expense (1,870) (1,780) (90) (5) (1,905) 35 2 Income tax expense (799) (730) (69) (9) (516) (283) (55) Net income $3,277 $2,976 $301 10 % $2,092 $1,185 57 % • Net revenues decreased 1% year-over-year • The benefit for credit losses was $0.8 billion, primarily due to a credit reserve release driven by updates to the company's process for generating future house price scenarios • Net income of $3.3 billion, up 57% year-over-year • Refinance activity of $36 billion accounted for 33% of 2Q26 new business activity New Business Activity (UPB in $B) $94 $99 $118 $103 $110 $76 $81 $77 $60 $74 $18 $18 $41 $43 $36 54 54 54 54 54 Home purchase Refinance Average estimated guarantee fee rate (bps) 2Q25 3Q25 4Q25 1Q26 2Q26
Weighted Average Original LTV Ratio 77% 77% 76% 75% 76% 2Q25 3Q25 4Q25 1Q26 2Q26 5 Weighted Average Original Credit Score 759 756 758 758 761 2Q25 3Q25 4Q25 1Q26 2Q26 Weighted Average Original DTI Ratio 38% 38% 37% 37% 37% 2Q25 3Q25 4Q25 1Q26 2Q26 Credit Characteristics of Single-Family New Business Activity
$ Millions 2Q26 1Q26 Var ($) Var (%) 2Q25 Var ($) Var (%) Net revenues $891 $958 ($67) (7) % $781 $110 14 % (Provision) benefit for credit losses 34 9 25 278 (161) 195 NM Non-interest expense (227) (242) 15 6 (253) 26 10 Income tax expense (137) (143) 6 4 (72) (65) (90) Net income $561 $582 ($21) (4) % $295 $266 90 % Mortgage Portfolio (UPB in $B) $466 $480 $496 $498 $505 53 54 56 58 59 Mortgage portfolio Average guarantee fee rate charged (bps) 2Q25 3Q25 4Q25 1Q26 2Q26 Multifamily Highlights 6 • Net revenues up 14% year-over-year mainly driven by higher guarantee net interest income, partially offset by lower non- interest income, consistent with the business strategy shift toward fully guaranteed securitizations • Net income up 90% year-over-year • New business activity up year-over-year due to a larger new business pipeline entering 2026, coupled with execution of Multifamily's competitive strategies New Business Activity (UPB in $B) $12 $25 $29 $13 $18 2Q25 3Q25 4Q25 1Q26 2Q26
Progress Towards Regulatory Capital Requirements ($B) $40 $57 $50 $60 $32 $44 ($41) CET1 minimum capital requirement Applicable buffer Additional Tier 1 & 2 Available capital (deficit) Growth in Net Worth ($B) $37 $48 $60 $70 $78 $90 $96 $107 $114 $117 Net worth Required CET1 capital December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 June 30, 2026 7 Net Worth and Regulatory Capital $161B 2Q26 $117B Total CET1 Capital Requirement • Net worth of $78 billion at June 30, 2026, up 20% year-over-year • $161 billion of total capital required at June 30, 2026, including $60 billion of buffers 4Q22 $122B $90B Total CET1 Capital Requirement $ Billions 4Q22 2Q26 Net worth $37 $78 Less: Senior preferred stock $73 $73 Less: Regulatory capital position adjustments and deductions $5 $5 Adjusted total regulatory capital (deficit) ($41) $—
8 Forward-Looking Statements and Additional Information Forward-looking statements This presentation contains forward-looking statements using terms such as will, expect, forecast, and others that do not refer solely to past periods. These may include statements pertaining to our conservatorship, our current expectations and objectives for our Single-Family and Multifamily segments, our efforts to assist the housing market, liquidity and capital management, and the effects of economic and market conditions and trends on our business, results of operations, and financial condition, including changes in house prices and house price forecasts, our 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 credit risk transfer (CRT) transactions, the impact of banking crises or failures, and the effects of wars, terrorist incidents, public policy and political developments, cybersecurity incidents, natural disasters or catastrophic events and actions taken in response thereto. Forward-looking statements involve known and unknown risks and uncertainties beyond our control. Our expectations necessarily involve assumptions, judgments, and estimates. Various factors could cause actual results to differ materially from these expectations, including changes in economic and market conditions, liquidity, mortgage spreads, credit outlook, actions by the U.S. government (including FHFA, Treasury, the executive branch, 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. We discuss these assumptions, judgments, estimates and factors in our Annual Report on Form 10-K for the year ended December 31, 2025 and our subsequent SEC filings available on the Investor Relations page of the company’s website at www.freddiemac.com and the SEC’s website at www.sec.gov. We have no obligation to update forward-looking statements to reflect subsequent events or circumstances. 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, 2026, Annual Report on Form 10-K for 2025, and Second Quarter 2026 Press Release and Second Quarter 2026 Financial Supplement. These documents are available on the Investor Relations page of the company’s website at www.FreddieMac.com. Additional information about these matters and 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.
Exhibit 99.3 SECOND QUARTER 2026 FINANCIAL SUPPLEMENT July 30, 2026
Table of Contents CONSOLIDATED RESULTS Selected Financial Data Condensed Consolidated Income Statements Condensed Consolidated Balance Sheets Average Balances and Yields Credit-Related Information Regulatory Capital BUSINESS SEGMENT RESULTS Single-Family Multifamily Page 3 5 4 We define some of the terms and other information in this presentation in Freddie Mac’s Form 10-K for the year ended December 31, 2025 (the “2025 Form 10-K”). You should review this presentation together with the 2025 Form 10-K and our subsequent SEC filings at http://www. freddiemac.com/investors. In some cases we present information from third-party sources such as mortgage loan sellers and servicers; while we generally believe in its accuracy, we do not independently verify all of it. Percentage sums may vary from 100% due to rounding. Unless otherwise indicated, data is as of June 30, 2026 or for the second quarter of 2026. Unless otherwise indicated, data for prior years is as of December 31 or for the full year indicated. 6 7 8 9 12
FREDDIE MAC ($ in millions) 1Q 2026 2Q 2025 SELECTED INCOME STATEMENT DATA Net interest income $6,010 $5,619 $5,547 $5,455 $5,299 7 13 Non-interest income (loss) (19) 514 217 284 617 NM NM Net revenues 5,991 6,133 5,764 5,739 5,916 (2) 1 (Provision) benefit for credit losses 880 320 (52) (175) (783) 175 NM Non-interest expense (2,097) (2,022) (2,258) (2,116) (2,158) (4) 3 Income before income tax expense 4,774 4,431 3,454 3,448 2,975 8 60 Income tax expense (936) (873) (677) (675) (588) (7) (59) Net income $3,838 $3,558 $2,777 $2,773 $2,387 8 61 Comprehensive income $3,847 $3,538 $2,784 $2,789 $2,408 9 60 SELECTED BALANCE SHEET DATA (period-end) Cash and cash equivalents $4,321 $4,469 $5,327 $4,624 $4,267 (3) 1 Securities purchased under agreements to resell 52,406 74,804 71,919 86,334 95,451 (30) (45) Investment securities, at fair value 84,342 75,939 85,412 83,855 82,850 11 2 Mortgage loans held-for-sale 1,361 1,225 1,014 1,807 6,300 11 (78) Mortgage loans held-for investment (net of allowance for credit losses) 3,332,294 3,302,306 3,290,066 3,248,704 3,206,974 1 4 Total assets 3,518,315 3,505,318 3,497,598 3,468,187 3,436,280 — 2 Debt issued by consolidated trusts 3,236,663 3,214,995 3,198,008 3,175,464 3,155,397 1 3 Short-term debt 17,984 24,408 37,718 38,255 21,218 (26) (15) Long-term debt 163,745 169,850 169,296 165,354 172,659 (4) (5) Total liabilities 3,440,546 3,431,396 3,427,214 3,400,587 3,371,469 — 2 Equity 77,769 73,922 70,384 67,600 64,811 5 20 CONSERVATORSHIP METRICS Net worth $77,769 $73,922 $70,384 $67,600 $64,811 5 20 Senior preferred stock liquidation preference 146,570 143,032 140,248 137,459 135,051 2 9 Remaining Treasury funding commitment 140,162 140,162 140,162 140,162 140,162 — — Cumulative dividend payments to Treasury 119,680 119,680 119,680 119,680 119,680 — — Cumulative draws from Treasury 71,648 71,648 71,648 71,648 71,648 — — 2Q 2025 2Q 2026 Change (%) SELECTED FINANCIAL DATA 1Q 20262Q 2026 3Q 20254Q 2025 3
FREDDIE MAC ($ in millions, except per share data) 1Q 2026 2Q 2025 Interest income $34,275 $33,650 $33,432 $32,975 $32,048 2 7 Interest expense (28,265) (28,031) (27,885) (27,520) (26,749) (1) (6) Net interest income 6,010 5,619 5,547 5,455 5,299 7 13 Non-interest income Guarantee income 288 320 377 377 398 (10) (28) Investments gains (losses), net (426) 42 (283) (237) 119 NM NM Other income 119 152 123 144 100 (22) 19 Non-interest income (loss) (19) 514 217 284 617 NM NM Net revenues 5,991 6,133 5,764 5,739 5,916 (2) 1 (Provision) benefit for credit losses 880 320 (52) (175) (783) 175 NM Non-interest expense Salaries and employee benefits (395) (376) (412) (423) (453) (5) 13 Professional services, technology, and occupancy (281) (250) (334) (293) (295) (12) 5 Credit enhancement expense (507) (441) (542) (489) (511) (15) 1 Legislative and regulatory assessments (840) (832) (842) (839) (825) (1) (2) Other expense (74) (123) (128) (72) (74) 40 — Non-interest expense (2,097) (2,022) (2,258) (2,116) (2,158) (4) 3 Income before income tax expense 4,774 4,431 3,454 3,448 2,975 8 60 Income tax expense (936) (873) (677) (675) (588) (7) (59) Net income 3,838 3,558 2,777 2,773 2,387 8 61 Other comprehensive income (loss), net of taxes and reclassification adjustments 9 (20) 7 16 21 NM (57) Comprehensive income $3,847 $3,538 $2,784 $2,789 $2,408 9 60 Net income $3,838 $3,558 $2,777 $2,773 $2,387 8 61 Amounts attributable to senior preferred stock (3,847) (3,538) (2,784) (2,789) (2,408) (9) (60) Net income (loss) attributable to common stockholders ($9) $20 ($7) ($16) ($21) NM 57 Net income (loss) per common share $0.00 $0.01 $0.00 $0.00 ($0.01) NM NM Weighted average common shares (in millions) 3,234 3,234 3,234 3,234 3,234 — — 2Q 2025 2Q 2026 Change (%) CONDENSED CONSOLIDATED INCOME STATEMENTS 1Q 20262Q 2026 3Q 20254Q 2025 4
FREDDIE MAC ($ in millions) 03/31/2026 06/30/2025 Assets Cash and cash equivalents $4,321 $4,469 $5,327 $4,624 $4,267 (3) 1 Securities purchased under agreements to resell 52,406 74,804 71,919 86,334 95,451 (30) (45) Investment securities, at fair value 84,342 75,939 85,412 83,855 82,850 11 2 Mortgage loans held-for-sale 1,361 1,225 1,014 1,807 6,300 11 (78) Mortgage loans held-for investment (net of allowance for credit losses) 3,332,294 3,302,306 3,290,066 3,248,704 3,206,974 1 4 Accrued interest receivable 12,473 12,207 12,254 11,813 11,583 2 8 Deferred tax assets, net 4,490 4,740 5,040 4,727 5,005 (5) (10) Other assets 26,628 29,628 26,566 26,323 23,850 (10) 12 Total assets $3,518,315 $3,505,318 $3,497,598 $3,468,187 $3,436,280 — 2 Liabilities and equity Liabilities Accrued interest payable $10,955 $10,556 $10,597 $10,185 $10,226 4 7 Debt issued by consolidated trusts 3,236,663 3,214,995 3,198,008 3,175,464 3,155,397 1 3 Short-term debt 17,984 24,408 37,718 38,255 21,218 (26) (15) Long-term debt 163,745 169,850 169,296 165,354 172,659 (4) (5) Other liabilities 11,199 11,587 11,595 11,329 11,969 (3) (6) Total liabilities 3,440,546 3,431,396 3,427,214 3,400,587 3,371,469 — 2 Equity Senior preferred stock 72,648 72,648 72,648 72,648 72,648 — — Preferred stock, at redemption value 14,109 14,109 14,109 14,109 14,109 — — Common stock — — — — — — — Retained earnings (accumulated deficit) (5,143) (8,981) (12,539) (15,316) (18,089) 43 72 AOCI, net of taxes 40 31 51 44 28 29 43 Treasury stock, at cost (3,885) (3,885) (3,885) (3,885) (3,885) — — Total equity 77,769 73,922 70,384 67,600 64,811 5 20 Total liabilities and equity $3,518,315 $3,505,318 $3,497,598 $3,468,187 $3,436,280 — 2 6/30/2025 6/30/2026 Change (%) CONDENSED CONSOLIDATED BALANCE SHEETS 3/31/20266/30/2026 9/30/202512/31/2025 5
FREDDIE MAC AVERAGE BALANCES AND YIELDS ($ in millions, except yields) AVERAGE BALANCES Interest-earning assets: Cash and cash equivalents $9,937 $8,363 $8,929 $8,639 $9,370 $56 $52 $60 $70 $73 Securities purchased under agreements to resell 73,295 84,924 97,243 101,119 106,309 684 798 1,011 1,136 1,186 Investment securities 78,068 76,752 87,343 83,769 74,793 876 833 940 932 845 Mortgage loans held by consolidated trusts 3,239,526 3,216,438 3,184,074 3,155,173 3,139,834 31,715 30,966 30,399 29,892 29,126 Mortgage loans held by Freddie Mac 82,851 86,808 85,703 78,910 68,211 904 966 976 910 775 Other assets 3,364 3,100 3,332 3,134 2,946 40 35 46 35 43 Total interest-earning assets 3,487,041 3,476,385 3,466,624 3,430,744 3,401,463 $34,275 $33,650 $33,432 $32,975 $32,048 Interest-bearing liabilities: Debt issued by consolidated trusts 3,207,386 3,189,597 3,171,240 3,147,760 3,137,146 (26,384) (26,001) (25,557) (25,072) (24,492) Short-term debt 19,585 30,089 37,410 28,185 16,347 (179) (275) (378) (302) (177) Long-term debt 166,120 169,973 170,077 174,687 172,110 (1,646) (1,702) (1,871) (2,066) (2,025) Securities sold under agreements to repurchase 6,170 5,949 7,897 7,308 5,202 (56) (53) (79) (80) (55) Total interest-bearing liabilities 3,399,261 3,395,608 3,386,624 3,357,940 3,330,805 ($28,265) ($28,031) ($27,885) ($27,520) ($26,749) Net interest income $6,010 $5,619 $5,547 $5,455 $5,299 YIELDS Interest-earning assets: Cash and cash equivalents 2.22 % 2.51 % 2.62 % 3.16 % 3.10 % Securities purchased under agreements to resell 3.73 % 3.76 % 4.16 % 4.49 % 4.46 % Investment securities 4.49 % 4.34 % 4.31 % 4.45 % 4.52 % Mortgage loans held by consolidated trusts 3.92 % 3.85 % 3.82 % 3.79 % 3.71 % Mortgage loans held by Freddie Mac 4.37 % 4.45 % 4.55 % 4.62 % 4.54 % Other assets 4.67 % 4.48 % 5.41 % 4.36 % 5.79 % Total interest-earning assets 3.93 % 3.87 % 3.85 % 3.85 % 3.77 % Interest-bearing liabilities: Debt issued by consolidated trusts (3.29)% (3.26)% (3.22)% (3.19)% (3.12)% Short-term debt (3.61)% (3.66)% (3.95)% (4.19)% (4.27)% Long-term debt (3.96)% (4.00)% (4.40)% (4.73)% (4.70)% Securities sold under agreements to repurchase (3.60)% (3.57)% (3.99)% (4.37)% (4.28)% Total interest-bearing liabilities (3.33)% (3.30)% (3.29)% (3.28)% (3.22)% Net interest yield 0.69 % 0.65 % 0.64 % 0.64 % 0.62 % 1Q 20262Q 2026 AVERAGE BALANCES 3Q 20254Q 2025 2Q 2025 2Q 20253Q 2025 INTEREST INCOME (EXPENSE) 4Q 20251Q 20262Q 2026 6
FREDDIE MAC ($ in millions, except ratio data) 1Q 2026 2Q 2025 ALLOWANCE FOR CREDIT LOSSES Single-Family allowance for credit losses: Beginning balance $7,228 $7,549 $7,664 $7,516 $6,851 (4) 6 Provision (benefit) for credit losses (846) (311) (210) 118 622 (172) NM Charge-offs (181) (178) (73) (118) (96) (2) (89) Recoveries collected 65 60 61 38 23 8 183 Net charge-offs (116) (118) (12) (80) (73) 2 (59) Other 112 108 107 110 116 4 (3) Ending balance $6,378 $7,228 $7,549 $7,664 $7,516 (12) (15) Multifamily allowance for credit losses: Beginning balance $885 $956 $703 $757 $600 (7) 48 Provision (benefit) for credit losses (34) (9) 262 57 161 (278) NM Charge-offs (1) (64) (10) (111) (4) 98 75 Recoveries collected — 1 1 — — NM — Net charge-offs (1) (63) (9) (111) (4) 98 75 Other — 1 — — — NM — Ending balance $850 $885 $956 $703 $757 (4) 12 Total allowance for credit losses: Beginning balance $8,113 $8,505 $8,367 $8,273 $7,451 (5) 9 Provision (benefit) for credit losses (880) (320) 52 175 783 (175) NM Charge-offs (182) (242) (83) (229) (100) 25 (82) Recoveries collected 65 61 62 38 23 7 183 Net charge-offs (117) (181) (21) (191) (77) 35 (52) Other 112 109 107 110 116 3 (3) Ending balance $7,228 $8,113 $8,505 $8,367 $8,273 (11) (13) COMPONENTS OF ALLOWANCE FOR CREDIT LOSSES Mortgage loans held-for-investment $6,771 $7,643 $7,968 $7,890 $7,729 (11) (12) Other 457 470 537 477 544 (3) (16) Ending balance $7,228 $8,113 $8,505 $8,367 $8,273 (11) (13) ALLOWANCE FOR CREDIT LOSSES TO TOTAL LOANS OUTSTANDING Single-Family 0.19 % 0.22 % 0.23 % 0.24 % 0.23 % Multifamily 0.36 % 0.42 % 0.46 % 0.43 % 0.52 % Total 0.20 % 0.23 % 0.24 % 0.24 % 0.24 % NET CHARGE-OFFS TO AVERAGE LOANS OUTSTANDING Single-Family — % — % — % — % — % Multifamily — % 0.04 % 0.01 % 0.10 % — % Total — % 0.01 % — % 0.01 % — % 2Q 2025 2Q 2026 Change (%) CREDIT-RELATED INFORMATION 1Q 20262Q 2026 3Q 20254Q 2025 7
FREDDIE MAC ($ in billions, except ratio data) 1Q 2026 2Q 2025 AVAILABLE CAPITAL (DEFICIT) Risk-based capital metrics Standardized Total capital (statutory) $12 $9 $6 $3 $— 33 NM CET1 capital (14) (18) (22) (24) (27) 22 48 Tier 1 capital — (4) (7) (10) (13) 100 100 Adjusted total capital — (4) (7) (10) (13) 100 100 Risk-weighted assets 1,261 1,259 1,231 1,172 1,114 — 13 Total capital (statutory) ratio 1.0 % 0.7 % 0.5 % 0.3 % — % 43 NM CET capital ratio (1.1)% (1.4)% (1.8)% (2.0)% (2.4)% 21 54 Tier 1 capital ratio — % (0.3)% (0.6)% (0.8)% (1.2)% 100 100 Adjusted total capital ratio — % (0.3)% (0.6)% (0.8)% (1.2)% 100 100 Leverage-based capital metrics Core capital (statutory) $5 $1 ($2) ($5) ($8) 400 163 Tier 1 capital — (4) (7) (10) (13) 100 100 Adjusted total assets 3,905 3,903 3,905 3,885 3,864 — 1 Core capital (statutory) ratio 0.1 % — % (0.1)% (0.1)% (0.2)% — 150 Tier 1 capital ratio — % (0.1)% (0.2)% (0.3)% (0.3)% 100 100 2Q 2025 2Q 2026 Change (%) REGULATORY CAPITAL 1Q 20262Q 2026 3Q 20254Q 2025 8
FREDDIE MAC SELECTED SINGLE-FAMILY INCOME STATEMENT DATA ($ in millions) 1Q 2026 2Q 2025 Net interest income $5,449 $5,120 $5,080 $5,047 $4,898 6 11 Non-interest income (loss) (349) 55 (178) (143) 237 NM NM Net revenues 5,100 5,175 4,902 4,904 5,135 (1) (1) (Provision) benefit for credit losses 846 311 210 (118) (622) 172 NM Non-interest expense (1,870) (1,780) (2,005) (1,868) (1,905) (5) 2 Income before income tax expense 4,076 3,706 3,107 2,918 2,608 10 56 Income tax expense (799) (730) (609) (571) (516) (9) (55) Net income 3,277 2,976 2,498 2,347 2,092 10 57 Other comprehensive income (loss), net of taxes and reclassification adjustments 3 (13) (1) 6 9 NM (67) Comprehensive income $3,280 $2,963 $2,497 $2,353 $2,101 11 56 SELECTED SINGLE-FAMILY HIGHLIGHTS Mortgage portfolio, at period end Average estimated guarantee fee rate (bps) 50 50 50 50 49 SINGLE-FAMILY MORTGAGE PORTFOLIO CREDIT ENHANCEMENT COVERAGE OUTSTANDING (UPB in $ billions) Primary mortgage insurance $685 $680 $681 $675 $666 1 3 STACR 1,152 1,180 1,165 1,183 1,189 (2) (3) ACIS 516 552 594 690 732 (6) (29) Other 37 38 38 39 39 (3) (5) Credit enhancement coverage (%) 61 % 62 % 61 % 62 % 62 % SINGLE-FAMILY LOAN STATISTICS Delinquency rates One-month past due 1.10 % 0.98 % 1.09 % 1.03 % 1.04 % Two months past due 0.28 % 0.27 % 0.31 % 0.28 % 0.26 % Serious delinquency rate 0.60 % 0.60 % 0.59 % 0.57 % 0.55 % Single-Family loan workouts (UPB $ in millions) Payment deferral plans $1,802 $2,319 $1,993 $2,029 $2,238 (22) (19) Loan modifications 2,754 2,375 2,532 2,598 2,762 16 — Forbearance plans and other 1,288 1,744 1,665 1,180 1,356 (26) (5) Total loan workouts $5,844 $6,438 $6,190 $5,807 $6,356 (9) (8) Number of loan workouts (in thousands) 22 24 23 22 24 (8) (8) 2Q 2025 2Q 2026 Change (%) SEGMENT RESULTS - SINGLE-FAMILY SELECTED FINANCIAL DATA 1Q 20262Q 2026 3Q 20254Q 2025 9
FREDDIE MAC ($ in billions) SELECTED SINGLE-FAMILY NEW BUSINESS ACTIVITY DATA 1Q 2026 2Q 2025 New Business Activity by Purpose Purchase $74 $60 $77 $81 $76 23 (2) Refinance 36 43 41 18 18 (15) 100 Total new business activity $110 $103 $118 $99 $94 7 18 New Business Activity Credit Characteristics Weighted average original LTV ratio 76 % 75 % 76 % 77 % 77 % Original LTV ratio >90% 21 % 19 % 20 % 24 % 23 % Weighted average original credit score 761 758 758 756 759 DTI ratio > 45% 24 % 24 % 25 % 28 % 28 % Fixed-rate 96 % 97 % 96 % 97 % 97 % Primary residence 94 % 94 % 95 % 94 % 93 % NEW BUSINESS ACTIVITY LOAN PURPOSE (%) Purchase 67 % 58 % 65 % 82 % 81 % Cash-out refinance 10 % 10 % 9 % 9 % 8 % Other refinance 23 % 32 % 26 % 9 % 11 % 2Q 2025 2Q 2026 Change (%) SEGMENT RESULTS - SINGLE-FAMILY NEW BUSINESS ACTIVITY 1Q 20262Q 2026 3Q 20254Q 2025 10
FREDDIE MAC As of June 30, 2026 SELECTED SINGLE-FAMILY MORTGAGE PORTFOLIO CREDIT CHARACTERISTICS Total UPB ($ in billions) $170.9 $340.2 $259.8 $189.6 $346.3 $1,865.4 $3,172.3 Share of Single-Family mortgage portfolio 5 % 11 % 8 % 6 % 11 % 59 % 100 % Share of loans with credit enhancement 35 % 52 % 72 % 76 % 69 % 60 % 61 % Serious delinquency rate (by loan count) 0.01 % 0.17 % 0.78 % 1.25 % 1.04 % 0.55 % 0.60 % Weighted average original LTV ratio 76 % 77 % 78 % 79 % 76 % 72 % 74 % Weighted average current LTV ratio 75 % 74 % 73 % 70 % 62 % 41 % 53 % Weighted average current credit score 758 755 749 741 742 759 755 Single-Family Mortgage Portfolio Credit Characteristics 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2Q 2025 Weighted average current LTV ratio 53 % 53 % 53 % 53 % 53 % Weighted average current credit score 755 753 754 754 754 SEGMENT RESULTS - SINGLE-FAMILY MORTGAGE PORTFOLIO CREDIT CHARACTERISTICS 2026 2025 BY ORIGINATION YEAR 2024 2023 2022 Prior Years Total 11
FREDDIE MAC SELECTED MULTIFAMILY INCOME STATEMENT DATA ($ in millions) 1Q 2026 2Q 2025 Net interest income $561 $499 $467 $408 $401 12 40 Non-interest income (loss) 330 459 395 427 380 (28) (13) Net revenues 891 958 862 835 781 (7) 14 (Provision) benefit for credit losses 34 9 (262) (57) (161) 278 NM Non-interest expense (227) (242) (253) (248) (253) 6 10 Income before income tax expense 698 725 347 530 367 (4) 90 Income tax expense (137) (143) (68) (104) (72) 4 (90) Net income 561 582 279 426 295 (4) 90 Other comprehensive income (loss), net of taxes and reclassification adjustments 6 (7) 8 10 12 NM (50) Comprehensive income $567 $575 $287 $436 $307 (1) 85 MULTIFAMILY NEW BUSINESS CHARACTERISTICS New business activity ($ in billions) $18 $13 $29 $25 $12 43 58 Weighted average original LTV ratio (%) 63 % 65 % 65 % 64 % 62 % Weighted average original debt service coverage ratio 1.30 1.30 1.28 1.29 1.34 Acquisitions of units by area median income <60% 35 % 38 % 35 % 34 % 39 % >60% to <80% 37 % 36 % 33 % 33 % 35 % >80% to <120% 19 % 19 % 24 % 25 % 21 % >120% 9 % 7 % 8 % 8 % 5 % SELECTED MULTIFAMILY MORTGAGE PORTOLIO DATA ($ in billions) Multifamily mortgage portfolio (UPB) $505 $498 $496 $480 $466 1 8 Average guarantee fee rate charged (bps) at period end 59 58 56 54 53 2 11 MULTIFAMILY MORTGAGE PORTFOLIO CREDIT ENHANCEMENT COVERAGE OUTSTANDING (UPB in $ billions) Subordination $312 $321 $330 $340 $348 (3) (11) MSCR/MCIP 143 122 102 83 73 17 96 Other 9 8 9 10 10 5 (11) Credit enhancement coverage (%) 92 % 91 % 89 % 90 % 92 % MULTIFAMILY LOAN STATISTICS Delinquency rate (%) 0.51 % 0.43 % 0.44 % 0.51 % 0.47 % 2Q 2025 2Q 2026 Change (%) SEGMENT RESULTS - MULTIFAMILY SELECTED FINANCIAL DATA 1Q 20262Q 2026 3Q 20254Q 2025 12