Q3 2025 Federal Home Loan Mortgage Corp Earnings Call Transcript
Key Points
- Federal Home Loan Mortgage Corp (FMCC) reported a net income of $2.8 billion for the third quarter, increasing the company's net worth to nearly $68 billion.
- The total mortgage portfolio increased to $3.62 trillion, facilitating over $124 billion in liquidity to the U.S. housing market, up from $106 billion in the previous quarter.
- The company helped 483,000 American families buy, refinance, or rent a home in the third quarter, a 33% increase from the previous quarter.
- 92% of eligible rental units and 54% of single-family homes financed were affordable to middle-class families, with 50% of homebuyers being first-time buyers.
- The multifamily segment reported a 7% increase in net revenues year-over-year, driven by higher net interest income and a change in business strategy leading to increased securitizations.
- Net income decreased by $332 million or 11% year-over-year, primarily due to a $175 million provision for credit losses.
- Non-interest income declined by $555 million or 66% year-over-year, primarily due to single-family investment losses driven by interest rate and spread changes.
- The single-family business segment reported a 9% decrease in net income year-over-year, with segment net revenues decreasing by 3%.
- Serious delinquencies in the single-family mortgage portfolio increased slightly to 57 basis points, up from 55 basis points in the previous quarter.
- The multifamily segment saw a 20% decrease in net income year-over-year, with a provision for credit losses of $57 million compared to a $92 million benefit in the prior year quarter.
Good morning, and thank you for joining us for a presentation of Freddie Mac's Third Quarter 2025 Financial Results. I'm Chris Spina, Vice President of Public Relations and Digital Communications. We are joined today by Executive Vice President and Chief Financial Officer, Jim Whitlinger.
Before we begin, we'd like to point out that during the call, Mr. Whitlinger may make forward-looking statements based on assumptions about the company's key business drivers and other factors. Changes in these factors could cause the company's actual results to materially vary from its expectations. A description of those factors can be found in the company's quarterly report on Form 10-Q filed today. You will find the 10-Q, earnings press release and related materials posted on the Investor Relations section of www.freddiemac.com.
This call is recorded, and a replay will soon be available on
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