Freddie Mac Q3 2026 net income rises 17% to $3.24B
The quarter included 420,000 households helped and 91% of eligible Multifamily units affordable to low- to moderate-income families.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Federal Home Loan Mortgage Corporation (Freddie Mac, FMCC) reported third-quarter 2026 net income of $3.235 billion, up 17% year over year, and net revenues of $6.810 billion, up 19%. Net interest income was $5.877 billion, up 8%; non-interest income was $933 million, versus $284 million a year earlier, while non-interest expense fell 6% to $1.994 billion. Net income attributable to common stockholders was $29 million, or $0.01 per common share. The provision for credit losses was $800 million, compared with $175 million in the third quarter of 2025, primarily due to a Single-Family credit reserve build.
Single-Family net income was $2.714 billion, up 16%, and Multifamily net income was $521 million, up 22%. Freddie Mac financed 286,000 single-family mortgages and 134,000 rental units; 51% of purchase borrowers were first-time homebuyers, and 91% of eligible Multifamily units were affordable to low- to moderate-income families. As of September 30, 2026, net worth was $80.975 billion and the mortgage portfolio was $3.7 trillion. During the quarter, the company began accepting the use of VantageScore’s credit scoring model by all lenders.
2 points · 0 major0 major · 1 point
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNet income reached $3.235 billion, up 17% year over year.
- Moderate pointNet revenues rose 19% to $6.810 billion year over year.
Negative
- Moderate pointCredit-loss provision increased to $800 million from $175 million in the third quarter of 2025. 34% of market cap
Filing Explained
Freddie Mac remains in conservatorship; it will add the third-quarter net-worth increase to senior preferred stock’s liquidation preference, projected at
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Net income: $3.235 billion
Net income attributable to common stockholders: $29 million
Net revenues: $6.810 billion
+5 more
8 metrics
Net income
$3.235 billion
Third quarter 2026; up 17% year over year
Net income attributable to common stockholders
$29 million
Third quarter 2026
Net revenues
$6.810 billion
Third quarter 2026; up 19% year over year
Provision for credit losses
$800 million
Third quarter 2026; compared with $175 million in the third quarter of 2025
Net worth
$80.975 billion
As of September 30, 2026
Total mortgage portfolio
$3.7 trillion
As of September 30, 2026
Households helped
420,000 households
Third quarter 2026; helped to buy, refinance, or rent a home
Market liquidity provided
$114 billion
Third quarter 2026
Key Terms
Net interest yield, Provision for credit losses, Senior preferred stock liquidation preference, VantageScore 4.0, +1 more
5 terms
Net interest yield financial
"Net interest yield 0.67%"
Provision for credit losses financial
"The provision for credit losses was $0.8 billion"
Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.
Senior preferred stock liquidation preference financial
"liquidation preference of senior preferred stock increased"
VantageScore 4.0 technical
"VantageScore 4.0 (%)"
VantageScore 4.0 is a consumer credit score model that summarizes a person’s creditworthiness into a single number, using up-to-date credit file information and modern statistical methods. Think of it as a quick “risk score” like a one-number weather forecast for a borrower: lenders and investors use it to decide who gets loans, at what price, and to estimate default risk in consumer lending portfolios, so shifts in average scores can affect credit availability and financial returns.
conservatorship regulatory
"operating under conservatorship with FHFA as Conservator"
A conservatorship is a legal arrangement where a court or regulator appoints a neutral party to take over management of a person’s or company’s financial affairs and operations because they cannot do so themselves. For investors, it matters because the conservator can change who makes decisions, how assets are run or sold, and what returns or disclosures are possible—think of it as a temporary guardian stepping in to run a household or business to preserve value and stabilize outcomes for creditors and shareholders.
Earnings Snapshot
Net income: $3.235 billion
Third quarter 2026
Net income
$3.235 billion
Up 17% year over year
Net revenues
$6.810 billion
Up 19% year over year
Net interest income
$5.877 billion
Up 8% year over year
Provision for credit losses
$800 million
Compared with $175 million in the third quarter of 2025
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did FMCC earn in the third quarter of 2026?
Freddie Mac reported net income of $3.235 billion in the third quarter of 2026, up 17% year over year. Net income attributable to common stockholders was $29 million, or $0.01 per common share.
How many households did FMCC help in Q3 2026?
Freddie Mac helped 420,000 households buy, refinance, or rent a home in the third quarter. It financed 286,000 single-family mortgages and 134,000 rental units.
What credit scoring change did FMCC make in Q3 2026?
During the third quarter, Freddie Mac began accepting the use of VantageScore’s credit scoring model by all lenders.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): October 29, 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 October 29, 2026, Freddie Mac (formally known as the Federal Home Loan Mortgage Corporation) announced its results of operations for the quarter ended September 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 | Press Release, dated October 29, 2026, issued by Freddie Mac | |||||||
| 99.2 | Third Quarter 2026 Earnings Presentation, dated October 29, 2026 | |||||||
| 99.3 | Third Quarter 2026 Financial Supplement, dated October 29, 2026 | |||||||
| 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: October 29, 2026
__________________________________________________________________________________________________________
Freddie Mac Form 8-K
| Exhibit 99.1 | ||||||||
Freddie Mac Reports Net Income of $3.2 Billion for Third Quarter 2026
Making Home Possible for 420,000 Households in Third Quarter 2026
•Financed 286,000 mortgages, with 56% of eligible loans affordable to low- to moderate-income families.
•First-time homebuyers represented 51% of new single-family home purchase loans.
•Financed 134,000 rental units, with 91% of eligible units affordable to low- to moderate-income families.
Third Quarter 2026 Financial Results
| During Third Quarter 2026 | As of September 30, 2026 | |||||||||||||||||||
Market Liquidity Provided - $114 Billion | Homes and Rental Units Financed - 420,000 | Net Worth - $81 Billion | Total Mortgage Portfolio - $3.7 Trillion | |||||||||||||||||
| Consolidated | •Net income of $3.2 billion, up 17% year-over-year, primarily driven by higher net revenues and lower non-interest expense, partially offset by an increase in the provision for credit losses. •Net revenues of $6.8 billion, an increase of 19% year-over-year, primarily driven by higher net interest income and higher non-interest income. •Provision for credit losses of $0.8 billion, primarily driven by a credit reserve build in Single-Family. •New business activity of $98 billion, down from $99 billion in the third quarter of 2025. •Mortgage portfolio of $3.2 trillion, up 1% year-over-year. •Serious delinquency rate of 0.61%, up from 0.59% at December 31, 2025 and 0.57% at September 30, 2025. •New business activity of $16 billion, down from $25 billion in the third quarter of 2025. •Mortgage portfolio of $510 billion, up 6% year-over-year. •Delinquency rate of 0.58%, up from 0.44% at December 31, 2025 and 0.51% at September 30, 2025. | "Freddie Mac delivered another strong quarter, with solid earnings and a growing mortgage portfolio. With direction from U.S. Federal Housing in the third quarter, the company began accepting the use of VantageScore’s credit scoring model by all lenders and continued to support our mission of making housing more affordable across the country." William J. Pulte, Director, U.S. Federal Housing and Chair of the Board of Directors, Freddie Mac "Freddie Mac's team has made home possible for millions of families across the country. In the third quarter alone, we helped 420,000 families buy, refinance, or rent a home, including 106,000 first time homebuyers. We earned net income of $3.2 billion on net revenue of $6.8 billion in the third quarter. Through the first three quarters of 2026, net income has increased 34 percent compared with the same period a year ago." Kenny Smith, CEO of Freddie Mac | ||||||||||||
Net Revenues $6.8 Billion Net Income $3.2 Billion Comprehensive Income $3.2 Billion | ||||||||||||||
Single-Family | ||||||||||||||
Net Revenues $5.8 Billion Net Income $2.7 Billion Comprehensive Income $2.7 Billion | ||||||||||||||
Multifamily | ||||||||||||||
Net Revenues $1.0 Billion Net Income $0.5 Billion Comprehensive Income $0.5 Billion | ||||||||||||||
Freddie Mac Third Quarter 2026 Financial Results
October 29, 2026
Page 2
McLean, VA — Freddie Mac (OTCQB: FMCC) today reported net income of $3.2 billion for the third quarter of 2026, up 17% from the third quarter of 2025, primarily driven by higher net revenues and lower non-interest expense, partially offset by an increase in the provision for credit losses.
Net revenues were $6.8 billion for the third quarter of 2026, up 19% year-over-year, primarily driven by higher net interest income and higher non-interest income. Net interest income for the third quarter of 2026 was $5.9 billion, up 8% 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 income for the third quarter of 2026 was $0.9 billion, up from non-interest income of $0.3 billion in the third quarter of 2025, primarily driven by net investment gains in the third quarter of 2026 compared to net investment losses in the third quarter of 2025.
The provision for credit losses was $0.8 billion for the third quarter of 2026, primarily due to a credit reserve build in Single-Family driven by an increase in projected future mortgage interest rates, as well as new acquisitions. The provision for credit losses was $0.2 billion for the third quarter of 2025, primarily driven by a credit reserve build in Single-Family attributable to new acquisitions.
Non-interest expense was $2.0 billion for the third quarter of 2026, down 6% year-over-year, primarily driven by lower credit enhancement expense, as well as a decrease in salaries and employee benefits.
Summary of Consolidated Statements of Income and Comprehensive Income
(Dollars in millions) | 3Q 2026 | 2Q 2026 | Change | 3Q 2025 | Change | |||||||||||||||||||||||||||
| Net interest income | $5,877 | $6,010 | ($133) | $5,455 | $422 | |||||||||||||||||||||||||||
| Non-interest income (loss) | 933 | (19) | 952 | 284 | 649 | |||||||||||||||||||||||||||
| Net revenues | 6,810 | 5,991 | 819 | 5,739 | 1,071 | |||||||||||||||||||||||||||
| (Provision) benefit for credit losses | (800) | 880 | (1,680) | (175) | (625) | |||||||||||||||||||||||||||
| Non-interest expense | (1,994) | (2,097) | 103 | (2,116) | 122 | |||||||||||||||||||||||||||
| Income before income tax expense | 4,016 | 4,774 | (758) | 3,448 | 568 | |||||||||||||||||||||||||||
| Income tax expense | (781) | (936) | 155 | (675) | (106) | |||||||||||||||||||||||||||
| Net income | 3,235 | 3,838 | (603) | 2,773 | 462 | |||||||||||||||||||||||||||
| Other comprehensive income (loss), net of taxes and reclassification adjustments | (29) | 9 | (38) | 16 | (45) | |||||||||||||||||||||||||||
| Comprehensive income | $3,206 | $3,847 | ($641) | $2,789 | $417 | |||||||||||||||||||||||||||
| Conservatorship metrics (in millions) | ||||||||||||||||||||||||||||||||
| Net worth | $80,975 | $77,769 | $3,206 | $67,600 | $13,375 | |||||||||||||||||||||||||||
| Senior preferred stock liquidation preference | 150,417 | 146,570 | 3,847 | 137,459 | 12,958 | |||||||||||||||||||||||||||
| 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 Third Quarter 2026 Financial Results
October 29, 2026
Page 3
| Single-Family Segment | ||
| Financial Results | ||
Net Revenues
(In billions)
Net Income
(In billions)
Comprehensive Income
(In billions)
(Dollars in millions) | 3Q 2026 | 2Q 2026 | Change | 3Q 2025 | Change | |||||||||||||||||||||||||||
| Net interest income | $5,294 | $5,449 | ($155) | $5,047 | $247 | |||||||||||||||||||||||||||
| Non-interest income (loss) | 537 | (349) | 886 | (143) | 680 | |||||||||||||||||||||||||||
| Net revenues | 5,831 | 5,100 | 731 | 4,904 | 927 | |||||||||||||||||||||||||||
| (Provision) benefit for credit losses | (685) | 846 | (1,531) | (118) | (567) | |||||||||||||||||||||||||||
| Non-interest expense | (1,777) | (1,870) | 93 | (1,868) | 91 | |||||||||||||||||||||||||||
| Income before income tax expense | 3,369 | 4,076 | (707) | 2,918 | 451 | |||||||||||||||||||||||||||
| Income tax expense | (655) | (799) | 144 | (571) | (84) | |||||||||||||||||||||||||||
| Net income | 2,714 | 3,277 | (563) | 2,347 | 367 | |||||||||||||||||||||||||||
| Other comprehensive income (loss), net of taxes and reclassification adjustments | (9) | 3 | (12) | 6 | (15) | |||||||||||||||||||||||||||
| Comprehensive income | $2,705 | $3,280 | ($575) | $2,353 | $352 | |||||||||||||||||||||||||||
Third Quarter 2026
Net income of $2.7 billion, up 16% year-over-year.
•Net revenues were $5.8 billion, up 19% year-over-year.
◦Net interest income was $5.3 billion, up 5% year-over-year, primarily driven by continued mortgage portfolio growth.
◦Non-interest income was $0.5 billion, compared to non-interest loss of $0.1 billion in the third quarter of 2025, primarily driven by changes in interest rates in each respective period. In 3Q 2026, gains on derivatives used in interest-rate risk management activities were offset by losses on investment securities. In 3Q 2025, losses on derivatives used in interest-rate risk management activities were offset by gains on investment securities.
•The provision for credit losses was $0.7 billion for the third quarter of 2026, primarily due to a credit reserve build driven by an increase in projected future mortgage interest rates, as well as new acquisitions. The provision for credit losses was $0.1 billion for the third quarter of 2025, primarily driven by a credit reserve build attributable to new acquisitions.
•Non-interest expense was $1.8 billion for the third quarter of 2026, down 5% year-over-year, primarily driven by lower credit enhancement expense, as well as a decrease in salaries and employee benefits.
Freddie Mac Third Quarter 2026 Financial Results
October 29, 2026
Page 4
| Single-Family Segment | ||
| Business Results | ||
New Business Activity
(UPB in billions)
Mortgage Portfolio
(UPB in billions)
Serious Delinquency Rate
| 3Q 2026 | 2Q 2026 | Change | 3Q 2025 | Change | ||||||||||||||||||||||||||||
| New Business Statistics: | ||||||||||||||||||||||||||||||||
| Single-Family homes funded (in thousands) | 286 | 306 | (20) | 288 | (2) | |||||||||||||||||||||||||||
| Purchase borrowers (in thousands) | 222 | 200 | 22 | 226 | (4) | |||||||||||||||||||||||||||
| Refinance borrowers (in thousands) | 64 | 106 | (42) | 62 | 2 | |||||||||||||||||||||||||||
Affordable to low- to moderate-income families (%)(1) | 56 | 54 | 2 | 54 | 2 | |||||||||||||||||||||||||||
First-time homebuyers (%)(2) | 51 | 52 | (1) | 50 | 1 | |||||||||||||||||||||||||||
| Average estimated guarantee fee rate (bps) | 53 | 54 | (1) | 54 | (1) | |||||||||||||||||||||||||||
| Weighted average original loan-to-value (LTV) (%) | 77 | 76 | 1 | 77 | — | |||||||||||||||||||||||||||
| Weighted average original credit score | 759 | 761 | (2) | 756 | 3 | |||||||||||||||||||||||||||
| Credit score model used for pricing assessment: | ||||||||||||||||||||||||||||||||
| Classic FICO Score (%) | 94 | 100 | (6) | 100 | (6) | |||||||||||||||||||||||||||
| VantageScore 4.0 (%) | 6 | — | 6 | N/A | N/A | |||||||||||||||||||||||||||
| Portfolio Statistics: | ||||||||||||||||||||||||||||||||
| Average estimated guarantee fee rate (bps) | 50 | 50 | — | 50 | — | |||||||||||||||||||||||||||
| Weighted average current LTV (%) | 54 | 53 | 1 | 53 | 1 | |||||||||||||||||||||||||||
| Weighted average current credit score | 755 | 755 | — | 754 | 1 | |||||||||||||||||||||||||||
| Loan count (in millions) | 13.9 | 13.9 | — | 13.9 | — | |||||||||||||||||||||||||||
| Credit-Related Statistics: | ||||||||||||||||||||||||||||||||
| Loan workout activity (in thousands) | 21 | 22 | (1) | 22 | (1) | |||||||||||||||||||||||||||
Allowance for credit losses to total loans outstanding (%)(3) | 0.22 | 0.19 | 0.03 | 0.24 | (0.02) | |||||||||||||||||||||||||||
| Credit enhancement coverage (%) | 60 | 61 | (1) | 62 | (2) | |||||||||||||||||||||||||||
(1) Eligible loans acquired affordable to families earning at or below 120% of area median income (AMI).
(2) Calculated as a percentage of purchase borrowers with loans secured by primary residences.
(3) 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 $98 billion, down from $99 billion in the third quarter of 2025. Financed 286,000 mortgages and enabled 106,000 first-time homebuyers to purchase a home.
Freddie Mac Third Quarter 2026 Financial Results
October 29, 2026
Page 5
| Multifamily Segment | ||
| Financial Results | ||
Net Revenues
(In billions)
Net Income
(In billions)
Comprehensive Income
(In billions)
| (Dollars in millions) | 3Q 2026 | 2Q 2026 | Change | 3Q 2025 | Change | |||||||||||||||||||||||||||
| Net interest income | $583 | $561 | $22 | $408 | $175 | |||||||||||||||||||||||||||
| Non-interest income (loss) | 396 | 330 | 66 | 427 | (31) | |||||||||||||||||||||||||||
| Net revenues | 979 | 891 | 88 | 835 | 144 | |||||||||||||||||||||||||||
| (Provision) benefit for credit losses | (115) | 34 | (149) | (57) | (58) | |||||||||||||||||||||||||||
| Non-interest expense | (217) | (227) | 10 | (248) | 31 | |||||||||||||||||||||||||||
| Income before income tax expense | 647 | 698 | (51) | 530 | 117 | |||||||||||||||||||||||||||
| Income tax expense | (126) | (137) | 11 | (104) | (22) | |||||||||||||||||||||||||||
| Net income | 521 | 561 | (40) | 426 | 95 | |||||||||||||||||||||||||||
| Other comprehensive income (loss), net of taxes and reclassification adjustments | (20) | 6 | (26) | 10 | (30) | |||||||||||||||||||||||||||
| Comprehensive income | $501 | $567 | ($66) | $436 | $65 | |||||||||||||||||||||||||||
Third Quarter 2026
Net income of $0.5 billion, up 22% year-over-year.
•Net revenues were $1.0 billion, up 17% year-over-year. Net interest income was $0.6 billion, up 43% 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.
•The provision for credit losses was $0.1 billion for the third quarter of 2026, primarily driven by a credit reserve build attributable to overall credit performance deterioration in the mortgage portfolio, partially offset by a credit reserve release due to updates in our credit loss estimation process. The provision for credit losses was $0.1 billion for the third quarter of 2025, primarily driven by new loan purchase commitment and acquisition activities and deterioration in the credit performance of certain delinquent loans.
Freddie Mac Third Quarter 2026 Financial Results
October 29, 2026
Page 6
| Multifamily Segment | ||
| Business Results | ||
New Business Activity
(UPB in billions)
Mortgage Portfolio
(UPB in billions)
Delinquency Rate
| 3Q 2026 | 2Q 2026 | Change | 3Q 2025 | Change | ||||||||||||||||||||||||||||
| New Business Statistics: | ||||||||||||||||||||||||||||||||
Number of rental units financed (in thousands)(1) | 134 | 133 | 1 | 195 | (61) | |||||||||||||||||||||||||||
Affordable to low-income families (%)(2) | 71 | 72 | (1) | 67 | 4 | |||||||||||||||||||||||||||
Affordable to low- to moderate-income families (%)(3) | 91 | 91 | — | 92 | (1) | |||||||||||||||||||||||||||
| Weighted average original LTV (%) | 63 | 63 | — | 64 | (1) | |||||||||||||||||||||||||||
Weighted average original debt service coverage ratio(4) | 1.30 | 1.30 | — | 1.29 | 0.01 | |||||||||||||||||||||||||||
| Securitization Statistics: | ||||||||||||||||||||||||||||||||
| Securitization issuance (UPB in billions) | $17 | $23 | ($6) | $14 | $3 | |||||||||||||||||||||||||||
| Senior subordinate | 1 | 1 | — | 2 | (1) | |||||||||||||||||||||||||||
| Fully guaranteed | 16 | 22 | (6) | 12 | 4 | |||||||||||||||||||||||||||
| Portfolio Statistics: | ||||||||||||||||||||||||||||||||
| Average guarantee fee rate charged (bps) at period end | 60 | 59 | 1 | 54 | 6 | |||||||||||||||||||||||||||
| Credit-Related Statistics: | ||||||||||||||||||||||||||||||||
Allowance for credit losses to total loans outstanding (%)(5) | 0.30 | 0.36 | (0.06) | 0.43 | (0.13) | |||||||||||||||||||||||||||
| Credit enhancement coverage (%) | 89 | 92 | (3) | 90 | (1) | |||||||||||||||||||||||||||
(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) Assumes monthly payments that reflect amortization of principal.
(5) 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 $16 billion, down from $25 billion in the third quarter of 2025, primarily driven by the higher mortgage interest rate environment.
•Provided financing for 134,000 multifamily rental units in the third quarter of 2026. 71% of the eligible multifamily rental units financed in the third quarter of 2026 were affordable to low-income families.
Freddie Mac Third Quarter 2026 Financial Results
October 29, 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 September 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 September 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 $150.4 billion on September 30, 2026 based on the increase in the Net Worth Amount during the second quarter of 2026, and will increase to $153.6 billion on December 31, 2026 based on the increase in the Net Worth Amount during the third 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 September 30, 2026 and Third Quarter 2026 Earnings Presentation and Third 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 October 29, 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/yc3azxbc. 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 Third Quarter 2026 Financial Results
October 29, 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 Third Quarter 2026 Financial Results
October 29, 2026
Page 9
FREDDIE MAC
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)
(In millions, except share-related amounts) | 3Q 2026 | 2Q 2026 | 3Q 2025 | |||||||||||||||||
| Net interest income | ||||||||||||||||||||
| Interest income | $35,065 | $34,275 | $32,975 | |||||||||||||||||
| Interest expense | (29,188) | (28,265) | (27,520) | |||||||||||||||||
| Net interest income | 5,877 | 6,010 | 5,455 | |||||||||||||||||
| Non-interest income (loss) | ||||||||||||||||||||
| Guarantee income | 213 | 288 | 377 | |||||||||||||||||
| Investment gains (losses), net | 599 | (426) | (237) | |||||||||||||||||
| Other income | 121 | 119 | 144 | |||||||||||||||||
| Non-interest income (loss) | 933 | (19) | 284 | |||||||||||||||||
| Net revenues | 6,810 | 5,991 | 5,739 | |||||||||||||||||
| (Provision) benefit for credit losses | (800) | 880 | (175) | |||||||||||||||||
| Non-interest expense | ||||||||||||||||||||
| Salaries and employee benefits | (400) | (395) | (423) | |||||||||||||||||
| Professional services, technology, and occupancy | (286) | (281) | (293) | |||||||||||||||||
| Credit enhancement expense | (422) | (507) | (489) | |||||||||||||||||
| Legislative and regulatory assessments | (839) | (840) | (839) | |||||||||||||||||
| Other expense | (47) | (74) | (72) | |||||||||||||||||
| Non-interest expense | (1,994) | (2,097) | (2,116) | |||||||||||||||||
| Income before income tax expense | 4,016 | 4,774 | 3,448 | |||||||||||||||||
| Income tax expense | (781) | (936) | (675) | |||||||||||||||||
| Net income | 3,235 | 3,838 | 2,773 | |||||||||||||||||
| Other comprehensive income (loss), net of taxes and reclassification adjustments | (29) | 9 | 16 | |||||||||||||||||
| Comprehensive income | $3,206 | $3,847 | $2,789 | |||||||||||||||||
| Net income | $3,235 | $3,838 | $2,773 | |||||||||||||||||
| Amounts attributable to senior preferred stock | (3,206) | (3,847) | (2,789) | |||||||||||||||||
| Net income (loss) attributable to common stockholders | $29 | ($9) | ($16) | |||||||||||||||||
| Net income (loss) per common share | $0.01 | $0.00 | $0.00 | |||||||||||||||||
| Weighted average common shares (in millions) | 3,234 | 3,234 | 3,234 | |||||||||||||||||
Freddie Mac Third Quarter 2026 Financial Results
October 29, 2026
Page 10
FREDDIE MAC
Condensed Consolidated Balance Sheets (Unaudited)
| September 30, | December 31, | |||||||||||||
(In millions, except share-related amounts) | 2026 | 2025 | ||||||||||||
| Assets | ||||||||||||||
Cash and cash equivalents (includes $1,120 and $1,234 of restricted cash and cash equivalents) | $4,561 | $5,327 | ||||||||||||
| Securities purchased under agreements to resell | 48,402 | 71,919 | ||||||||||||
| Investment securities, at fair value | 78,167 | 85,412 | ||||||||||||
Mortgage loans held-for-sale (includes $— and $— at fair value) | 1,632 | 1,014 | ||||||||||||
Mortgage loans held-for-investment (net of allowance for credit losses of $7,382 and $7,968 and includes $6,298 and $7,005 at fair value) | 3,354,872 | 3,290,066 | ||||||||||||
| Accrued interest receivable | 12,725 | 12,254 | ||||||||||||
| Deferred tax assets, net | 4,031 | 5,040 | ||||||||||||
Other assets (includes $6,964 and $6,421 at fair value) | 27,815 | 26,566 | ||||||||||||
| Total assets | $3,532,205 | $3,497,598 | ||||||||||||
| Liabilities and equity | ||||||||||||||
| Liabilities | ||||||||||||||
| Accrued interest payable | $10,985 | $10,597 | ||||||||||||
Debt issued by consolidated trusts (includes $5,789 and $5,841 at fair value) | 3,261,342 | 3,198,008 | ||||||||||||
| Short-term debt | 9,525 | 37,718 | ||||||||||||
Long-term debt (includes $177 and $195 at fair value) | 156,998 | 169,296 | ||||||||||||
Other liabilities (includes $1,852 and $781 at fair value) | 12,380 | 11,595 | ||||||||||||
| Total liabilities | 3,451,230 | 3,427,214 | ||||||||||||
| Commitments and contingencies | ||||||||||||||
| Equity | ||||||||||||||
Senior preferred stock (liquidation preference of $150,417 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 | (1,908) | (12,539) | ||||||||||||
| AOCI, net of taxes | 11 | 51 | ||||||||||||
Treasury stock, at cost, 75,804,333 shares | (3,885) | (3,885) | ||||||||||||
| Total equity | 80,975 | 70,384 | ||||||||||||
| Total liabilities and equity | $3,532,205 | $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. | ||||||||||||||
| September 30, | December 31, | |||||||||||||
| (In millions) | 2026 | 2025 | ||||||||||||
| Assets | ||||||||||||||
Cash and cash equivalents (includes $1,018 and $1,136 of restricted cash and cash equivalents) | $1,018 | $1,136 | ||||||||||||
| Securities purchased under agreements to resell | 14,007 | 19,107 | ||||||||||||
| Investment securities, at fair value | 854 | 34 | ||||||||||||
| Mortgage loans held-for-investment, net | 3,281,419 | 3,198,847 | ||||||||||||
| Accrued interest receivable | 11,503 | 10,825 | ||||||||||||
| Other assets | 7,142 | 8,573 | ||||||||||||
| Total assets of consolidated VIEs | $3,315,943 | $3,238,522 | ||||||||||||
| Liabilities | ||||||||||||||
| Accrued interest payable | $9,881 | $9,312 | ||||||||||||
| Debt issued by consolidated trusts | 3,261,342 | 3,198,008 | ||||||||||||
| Total liabilities of consolidated VIEs | $3,271,223 | $3,207,320 | ||||||||||||
Third Quarter 2026 Earnings Presentation October 29, 2026 Exhibit 99.2
2 3Q 2026 Key Highlights Net Revenues $6.8B Up 19% from $5.7B in 3Q25 Financial Performance 3Q26 Mission Performance 51% First-time homebuyers (Single-Family) $114B Liquidity provided to the mortgage market 420K Households helped to buy, refinance, or rent a home 91% Affordable to low-to-moderate income families (Multifamily) 56% Affordable to low-to-moderate income families (Single-Family) Net Income $3.2B Up 17% from $2.8B in 3Q25 Net Worth $81B Up from $70B as of 4Q25
$3.7T ($3.6T in 3Q25) Mortgage Portfolio 3 3Q 2026 Financial Summary $ Millions 3Q26 2Q26 Var ($) Var (%) 3Q25 Var ($) Var (%) Net revenues $6,810 $5,991 $819 14 % $5,739 $1,071 19 % (Provision) benefit for credit losses (800) 880 (1,680) NM (175) (625) (357) Non-interest expense (1,994) (2,097) 103 5 (2,116) 122 6 Income before income tax expense 4,016 4,774 (758) (16) 3,448 568 16 Income tax expense (781) (936) 155 17 (675) (106) (16) Net income $3,235 $3,838 ($603) (16) % $2,773 $462 17 % Total assets ($B) $3,532 $3,518 $14 — % $3,468 $64 2 % Net worth ($B) 81.0 77.8 3.2 4 67.6 13.4 20 $5.9B ($5.5B in 3Q25) Net Interest Income 0.67% (0.64% in 3Q25) Net Interest Yield Key Metrics 0.22% (0.24% in 3Q25) Allowance for Credit Losses / Total Loans Outstanding $117B ($112B in 3Q25) Required CET1 Capital
Mortgage Portfolio (UPB in $B) $3,141 $3,156 $3,158 $3,172 $3,186 50 50 50 50 50 Mortgage portfolio Average estimated guarantee fee rate (bps) 3Q25 4Q25 1Q26 2Q26 3Q26 Single-Family Highlights 4 $ Millions 3Q26 2Q26 Var ($) Var (%) 3Q25 Var ($) Var (%) Net revenues $5,831 $5,100 $731 14 % $4,904 $927 19 % (Provision) benefit for credit losses (685) 846 (1,531) NM (118) (567) (481) Non-interest expense (1,777) (1,870) 93 5 (1,868) 91 5 Income tax expense (655) (799) 144 18 (571) (84) (15) Net income $2,714 $3,277 ($563) (17) % $2,347 $367 16 % • Net revenues increased 19% year-over-year • The provision for credit losses was $0.7 billion, primarily due to a credit reserve build driven by an increase in projected future mortgage interest rates, as well as new acquisitions • Net income of $2.7 billion, up 16% year-over-year • New business activity of $98 billion New Business Activity (UPB in $B) $99 $118 $103 $110 $98 $81 $77 $60 $74 $80 $18 $41 $43 $36 $18 54 54 54 54 53 Home purchase Refinance Average estimated guarantee fee rate (bps) 3Q25 4Q25 1Q26 2Q26 3Q26
Weighted Average Original LTV Ratio 77% 76% 75% 76% 77% 3Q25 4Q25 1Q26 2Q26 3Q26 5 Weighted Average Original Credit Score 756 758 758 761 759 3Q25 4Q25 1Q26 2Q26 3Q26 Weighted Average Original DTI Ratio 38% 37% 37% 37% 38% 3Q25 4Q25 1Q26 2Q26 3Q26 Credit Characteristics of Single-Family New Business Activity
$ Millions 3Q26 2Q26 Var ($) Var (%) 3Q25 Var ($) Var (%) Net revenues $979 $891 $88 10 % $835 $144 17 % (Provision) benefit for credit losses (115) 34 (149) NM (57) (58) (102) Non-interest expense (217) (227) 10 4 (248) 31 13 Income tax expense (126) (137) 11 8 (104) (22) (21) Net income $521 $561 ($40) (7) % $426 $95 22 % Mortgage Portfolio (UPB in $B) $480 $496 $498 $505 $510 54 56 58 59 60 Mortgage portfolio Average guarantee fee rate charged (bps) 3Q25 4Q25 1Q26 2Q26 3Q26 Multifamily Highlights 6 • Net revenues up 17% year-over-year mainly driven by higher guarantee net interest income • The provision for credit losses was $0.1 billion, primarily due to credit deterioration • Net income up 22% year-over-year • New business activity decreased year-over-year, primarily driven by the higher mortgage interest rate environment New Business Activity (UPB in $B) $25 $29 $13 $18 $16 3Q25 4Q25 1Q26 2Q26 3Q26
Progress Towards Regulatory Capital Requirements ($B) ($41) $4 $122 $162 $40 $57 $50 $60 $32 $45 Available capital (deficit) CET1 minimum capital requirement Applicable buffer Additional Tier 1 & 2 4Q22 3Q26 Growth in Net Worth ($B) $37 $48 $60 $70 $81 $90 $96 $107 $114 $117 Net worth Required CET1 capital December 31, 2022 December 31, 2023 December 31, 2024 December 31, 2025 September 30, 2026 7 Net Worth and Regulatory Capital $117B Total CET1 Capital Requirement • Net worth of $81 billion at September 30, 2026, up 20% year-over-year • $162 billion of total capital required at September 30, 2026, including $60 billion of buffers $90B Total CET1 Capital Requirement $ Billions 4Q22 3Q26 Net worth $37 $81 Less: Senior preferred stock $73 $73 Less: Regulatory capital position adjustments and deductions $5 $4 Adjusted total regulatory capital (deficit) ($41) $4
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 September 30, 2026, Annual Report on Form 10-K for 2025, and Third Quarter 2026 Press Release and Third 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 THIRD QUARTER 2026 FINANCIAL SUPPLEMENT October 29, 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 September 30, 2026 or for the third 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) 2Q 2026 3Q 2025 SELECTED INCOME STATEMENT DATA Net interest income $5,877 $6,010 $5,619 $5,547 $5,455 (2) 8 Non-interest income (loss) 933 (19) 514 217 284 NM 229 Net revenues 6,810 5,991 6,133 5,764 5,739 14 19 (Provision) benefit for credit losses (800) 880 320 (52) (175) NM (357) Non-interest expense (1,994) (2,097) (2,022) (2,258) (2,116) 5 6 Income before income tax expense 4,016 4,774 4,431 3,454 3,448 (16) 16 Income tax expense (781) (936) (873) (677) (675) 17 (16) Net income $3,235 $3,838 $3,558 $2,777 $2,773 (16) 17 Comprehensive income $3,206 $3,847 $3,538 $2,784 $2,789 (17) 15 SELECTED BALANCE SHEET DATA (period-end) Cash and cash equivalents $4,561 $4,321 $4,469 $5,327 $4,624 6 (1) Securities purchased under agreements to resell 48,402 52,406 74,804 71,919 86,334 (8) (44) Investment securities, at fair value 78,167 84,342 75,939 85,412 83,855 (7) (7) Mortgage loans held-for-sale 1,632 1,361 1,225 1,014 1,807 20 (10) Mortgage loans held-for investment (net of allowance for credit losses) 3,354,872 3,332,294 3,302,306 3,290,066 3,248,704 1 3 Total assets 3,532,205 3,518,315 3,505,318 3,497,598 3,468,187 — 2 Debt issued by consolidated trusts 3,261,342 3,236,663 3,214,995 3,198,008 3,175,464 1 3 Short-term debt 9,525 17,984 24,408 37,718 38,255 (47) (75) Long-term debt 156,998 163,745 169,850 169,296 165,354 (4) (5) Total liabilities 3,451,230 3,440,546 3,431,396 3,427,214 3,400,587 — 1 Equity 80,975 77,769 73,922 70,384 67,600 4 20 CONSERVATORSHIP METRICS Net worth $80,975 $77,769 $73,922 $70,384 $67,600 4 20 Senior preferred stock liquidation preference 150,417 146,570 143,032 140,248 137,459 3 9 Remaining Treasury funding commitment 140,162 140,162 140,162 140,162 140,162 — — Cumulative dividend payments to Treasury 119,680 119,680 119,680 119,680 119,680 — — Cumulative draws from Treasury 71,648 71,648 71,648 71,648 71,648 — — 3Q 2025 3Q 2026 Change (%) SELECTED FINANCIAL DATA 2Q 20263Q 2026 4Q 20251Q 2026 3
FREDDIE MAC ($ in millions, except per share-related data) 2Q 2026 3Q 2025 Interest income $35,065 $34,275 $33,650 $33,432 $32,975 2 6 Interest expense (29,188) (28,265) (28,031) (27,885) (27,520) (3) (6) Net interest income (loss) 5,877 6,010 5,619 5,547 5,455 (2) 8 Non-interest income Guarantee income 213 288 320 377 377 (26) (44) Investments gains (losses), net 599 (426) 42 (283) (237) NM NM Other income 121 119 152 123 144 2 (16) Non-interest income (loss) 933 (19) 514 217 284 NM 229 Net revenues 6,810 5,991 6,133 5,764 5,739 14 19 (Provision) benefit for credit losses (800) 880 320 (52) (175) NM (357) Non-interest expense Salaries and employee benefits (400) (395) (376) (412) (423) (1) 5 Professional services, technology, and occupancy (286) (281) (250) (334) (293) (2) 2 Credit enhancement expense (422) (507) (441) (542) (489) 17 14 Legislative and regulatory assessments (839) (840) (832) (842) (839) — — Other expense (47) (74) (123) (128) (72) 36 35 Non-interest expense (1,994) (2,097) (2,022) (2,258) (2,116) 5 6 Income before income tax expense 4,016 4,774 4,431 3,454 3,448 (16) 16 Income tax expense (781) (936) (873) (677) (675) 17 (16) Net income 3,235 3,838 3,558 2,777 2,773 (16) 17 Other comprehensive income (loss), net of taxes and reclassification adjustments (29) 9 (20) 7 16 NM NM Comprehensive income $3,206 $3,847 $3,538 $2,784 $2,789 (17) 15 Net income $3,235 $3,838 $3,558 $2,777 $2,773 (16) 17 Amounts attributable to senior preferred stock (3,206) (3,847) (3,538) (2,784) (2,789) 17 (15) Net income (loss) attributable to common stockholders $29 ($9) $20 ($7) ($16) NM NM Net income (loss) per common share $0.01 $0.00 $0.01 $0.00 $0.00 NM NM Weighted average common shares (in millions) 3,234 3,234 3,234 3,234 3,234 — — 3Q 2025 3Q 2026 Change (%) CONDENSED CONSOLIDATED INCOME STATEMENTS 2Q 20263Q 2026 4Q 20251Q 2026 4
FREDDIE MAC ($ in millions) 06/30/2026 09/30/2025 Assets Cash and cash equivalents $4,561 $4,321 $4,469 $5,327 $4,624 6 (1) Securities purchased under agreements to resell 48,402 52,406 74,804 71,919 86,334 (8) (44) Investment securities, at fair value 78,167 84,342 75,939 85,412 83,855 (7) (7) Mortgage loans held-for-sale 1,632 1,361 1,225 1,014 1,807 20 (10) Mortgage loans held-for investment (net of allowance for credit losses) 3,354,872 3,332,294 3,302,306 3,290,066 3,248,704 1 3 Accrued interest receivable 12,725 12,473 12,207 12,254 11,813 2 8 Deferred tax assets, net 4,031 4,490 4,740 5,040 4,727 (10) (15) Other assets 27,815 26,628 29,628 26,566 26,323 4 6 Total assets $3,532,205 $3,518,315 $3,505,318 $3,497,598 $3,468,187 — 2 Liabilities and equity Liabilities Accrued interest payable $10,985 $10,955 $10,556 $10,597 $10,185 — 8 Debt issued by consolidated trusts 3,261,342 3,236,663 3,214,995 3,198,008 3,175,464 1 3 Short-term debt 9,525 17,984 24,408 37,718 38,255 (47) (75) Long-term debt 156,998 163,745 169,850 169,296 165,354 (4) (5) Other liabilities 12,380 11,199 11,587 11,595 11,329 11 9 Total liabilities 3,451,230 3,440,546 3,431,396 3,427,214 3,400,587 — 1 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) (1,908) (5,143) (8,981) (12,539) (15,316) 63 88 AOCI, net of taxes 11 40 31 51 44 (73) (75) Treasury stock, at cost (3,885) (3,885) (3,885) (3,885) (3,885) — — Total equity 80,975 77,769 73,922 70,384 67,600 4 20 Total liabilities and equity $3,532,205 $3,518,315 $3,505,318 $3,497,598 $3,468,187 — 2 9/30/2025 9/30/2026 Change (%) CONDENSED CONSOLIDATED BALANCE SHEETS 6/30/20269/30/2026 12/31/20253/31/2026 5
FREDDIE MAC AVERAGE BALANCES AND YIELDS ($ in millions, except yields) AVERAGE BALANCES Interest-earning assets: Cash and cash equivalents $8,785 $9,937 $8,363 $8,929 $8,639 $61 $56 $52 $60 $70 Securities purchased under agreements to resell 60,985 73,295 84,924 97,243 101,119 582 684 798 1,011 1,136 Investment securities 84,673 78,068 76,752 87,343 83,769 974 876 833 940 932 Mortgage loans held by consolidated trusts 3,264,480 3,239,526 3,216,438 3,184,074 3,155,173 32,491 31,715 30,966 30,399 29,892 Mortgage loans held by Freddie Mac 83,250 82,851 86,808 85,703 78,910 923 904 966 976 910 Other assets 3,115 3,364 3,100 3,332 3,134 34 40 35 46 35 Total interest-earning assets 3,505,288 3,487,041 3,476,385 3,466,624 3,430,744 $35,065 $34,275 $33,650 $33,432 $32,975 Interest-bearing liabilities: Debt issued by consolidated trusts 3,232,823 3,207,386 3,189,597 3,171,240 3,147,760 (27,305) (26,384) (26,001) (25,557) (25,072) Short-term debt 12,030 19,585 30,089 37,410 28,185 (113) (179) (275) (378) (302) Long-term debt 165,856 166,120 169,973 170,077 174,687 (1,704) (1,646) (1,702) (1,871) (2,066) Securities sold under agreements to repurchase 7,269 6,170 5,949 7,897 7,308 (66) (56) (53) (79) (80) Total interest-bearing liabilities 3,417,978 3,399,261 3,395,608 3,386,624 3,357,940 ($29,188) ($28,265) ($28,031) ($27,885) ($27,520) Net interest income $5,877 $6,010 $5,619 $5,547 $5,455 YIELDS Interest-earning assets: Cash and cash equivalents 2.69 % 2.22 % 2.51 % 2.62 % 3.16 % Securities purchased under agreements to resell 3.81 % 3.73 % 3.76 % 4.16 % 4.49 % Investment securities 4.60 % 4.49 % 4.34 % 4.31 % 4.45 % Mortgage loans held by consolidated trusts 3.98 % 3.92 % 3.85 % 3.82 % 3.79 % Mortgage loans held by Freddie Mac 4.43 % 4.37 % 4.45 % 4.55 % 4.62 % Other assets 4.37 % 4.67 % 4.48 % 5.41 % 4.36 % Total interest-earning assets 4.00 % 3.93 % 3.87 % 3.85 % 3.85 % Interest-bearing liabilities: Debt issued by consolidated trusts (3.38)% (3.29)% (3.26)% (3.22)% (3.19)% Short-term debt (3.67)% (3.61)% (3.66)% (3.95)% (4.19)% Long-term debt (4.11)% (3.96)% (4.00)% (4.40)% (4.73)% Securities sold under agreements to repurchase (3.67)% (3.60)% (3.57)% (3.99)% (4.37)% Total interest-bearing liabilities (3.42)% (3.33)% (3.30)% (3.29)% (3.28)% Net interest yield 0.67 % 0.69 % 0.65 % 0.64 % 0.64 % 2Q 20263Q 2026 AVERAGE BALANCES 4Q 20251Q 2026 3Q 2025 3Q 20254Q 2025 INTEREST INCOME (EXPENSE) 1Q 20262Q 20263Q 2026 6
FREDDIE MAC ($ in millions, except ratio data) 2Q 2026 3Q 2025 ALLOWANCE FOR CREDIT LOSSES Single-Family allowance for credit losses: Beginning balance $6,378 $7,228 $7,549 $7,664 $7,516 (12) (15) Provision (benefit) for credit losses 685 (846) (311) (210) 118 NM 481 Charge-offs (210) (181) (178) (73) (118) (16) (78) Recoveries collected 78 65 60 61 38 20 105 Net charge-offs (132) (116) (118) (12) (80) (14) (65) Other 118 112 108 107 110 5 7 Ending balance $7,049 $6,378 $7,228 $7,549 $7,664 11 (8) Multifamily allowance for credit losses: Beginning balance $850 $885 $956 $703 $757 (4) 12 Provision (benefit) for credit losses 115 (34) (9) 262 57 NM 102 Charge-offs (11) (1) (64) (10) (111) (1,000) 90 Recoveries collected 1 — 1 1 — NM NM Net charge-offs (10) (1) (63) (9) (111) (900) 91 Other — — 1 — — — — Ending balance $955 $850 $885 $956 $703 12 36 Total allowance for credit losses: Beginning balance $7,228 $8,113 $8,505 $8,367 $8,273 (11) (13) Provision (benefit) for credit losses 800 (880) (320) 52 175 NM 357 Charge-offs (221) (182) (242) (83) (229) (21) 3 Recoveries collected 79 65 61 62 38 22 108 Net charge-offs (142) (117) (181) (21) (191) (21) 26 Other 118 112 109 107 110 5 7 Ending balance $8,004 $7,228 $8,113 $8,505 $8,367 11 (4) COMPONENTS OF ALLOWANCE FOR CREDIT LOSSES Mortgage loans held-for-investment $7,382 $6,771 $7,643 $7,968 $7,890 9 (6) Other 622 457 470 537 477 36 30 Ending balance $8,004 $7,228 $8,113 $8,505 $8,367 11 (4) ALLOWANCE FOR CREDIT LOSSES TO TOTAL LOANS OUTSTANDING Single-Family 0.22 % 0.19 % 0.22 % 0.23 % 0.24 % Multifamily 0.30 % 0.36 % 0.42 % 0.46 % 0.43 % Total 0.22 % 0.20 % 0.23 % 0.24 % 0.24 % NET CHARGE-OFFS TO AVERAGE LOANS OUTSTANDING Single-Family — % — % — % — % — % Multifamily 0.01 % — % 0.04 % 0.01 % 0.10 % Total — % — % 0.01 % — % 0.01 % 3Q 2025 CREDIT-RELATED INFORMATION 2Q 20263Q 2026 4Q 20251Q 2026 7
FREDDIE MAC ($ in billions, except ratio data) 2Q 2026 3Q 2025 AVAILABLE CAPITAL (DEFICIT) Risk-based capital metrics Standardized Total capital (statutory) $16 $12 $9 $6 $3 33 433 CET1 capital (10) (14) (18) (22) (24) 29 58 Tier 1 capital 4 — (4) (7) (10) NM 140 Adjusted total capital 4 — (4) (7) (10) NM 140 Risk-weighted assets 1,272 1,261 1,259 1,231 1,172 1 9 Total capital (statutory) ratio 1.3 % 1.0 % 0.7 % 0.5 % 0.3 % 30 333 CET capital ratio (0.8)% (1.1)% (1.4)% (1.8)% (2.0)% 27 60 Tier 1 capital ratio 0.3 % — % (0.3)% (0.6)% (0.8)% NM 138 Adjusted total capital ratio 0.3 % — % (0.3)% (0.6)% (0.8)% NM 138 Leverage-based capital metrics Core capital (statutory) $8 $5 $1 ($2) ($5) 60 260 Tier 1 capital 4 — (4) (7) (10) NM 140 Adjusted total assets 3,912 3,905 3,903 3,905 3,885 — 1 Core capital (statutory) ratio 0.2 % 0.1 % 0.0 % (0.1)% (0.1)% 100 300 Tier 1 capital ratio 0.1 % — % (0.1)% (0.2)% (0.3)% NM 133 3Q 2025 3Q 2026 Change (%) REGULATORY CAPITAL 2Q 20263Q 2026 4Q 20251Q 2026 8
FREDDIE MAC SELECTED SINGLE-FAMILY INCOME STATEMENT DATA ($ in millions) 2Q 2026 3Q 2025 Net interest income $5,294 $5,449 $5,120 $5,080 $5,047 (3) 5 Non-interest income (loss) 537 (349) 55 (178) (143) NM NM Net revenues 5,831 5,100 5,175 4,902 4,904 14 19 (Provision) benefit for credit losses (685) 846 311 210 (118) NM (481) Non-interest expense (1,777) (1,870) (1,780) (2,005) (1,868) 5 5 Income before income tax expense 3,369 4,076 3,706 3,107 2,918 (17) 15 Income tax expense (655) (799) (730) (609) (571) 18 (15) Net income 2,714 3,277 2,976 2,498 2,347 (17) 16 Other comprehensive income (loss), net of taxes and reclassification adjustments (9) 3 (13) (1) 6 NM NM Comprehensive income $2,705 $3,280 $2,963 $2,497 $2,353 (18) 15 SELECTED SINGLE-FAMILY HIGHLIGHTS Mortgage portfolio, at period end Average estimated guarantee fee rate (bps) 50 50 50 50 50 SINGLE-FAMILY MORTGAGE PORTFOLIO CREDIT ENHANCEMENT COVERAGE OUTSTANDING (UPB in $ millions) Primary mortgage insurance $692,021 $684,961 $679,825 $680,950 $675,345 1 2 STACR 1,112,210 1,151,805 1,180,408 1,165,412 1,182,571 (3) (6) ACIS 515,261 516,398 551,892 594,409 690,453 — (25) Other 36,009 36,791 37,637 38,373 38,662 (2) (7) Credit enhancement coverage (%) 60 % 61 % 62 % 61 % 62 % SINGLE-FAMILY LOAN STATISTICS Delinquency rates One-month past due 1.10 % 1.10 % 0.98 % 1.09 % 1.03 % Two months past due 0.30 % 0.28 % 0.27 % 0.31 % 0.28 % Serious delinquency rate 0.61 % 0.60 % 0.60 % 0.59 % 0.57 % Single-Family loan workouts (UPB $ in millions) Payment deferral plans $1,721 $1,802 $2,319 $1,993 $2,029 (4) (15) Loan modifications 2,800 2,754 2,375 2,532 2,598 2 8 Forbearance plans and other 1,151 1,288 1,744 1,665 1,180 (11) (2) Total loan workouts $5,672 $5,844 $6,438 $6,190 $5,807 (3) (2) Number of loan workouts (in thousands) 21 22 24 23 22 (5) (5) 3Q 2025 3Q 2026 Change (%) SEGMENT RESULTS - SINGLE-FAMILY SELECTED FINANCIAL DATA 2Q 20263Q 2026 4Q 20251Q 2026 9
FREDDIE MAC ($ in millions) SELECTED SINGLE-FAMILY NEW BUSINESS ACTIVITY DATA 2Q 2026 3Q 2025 New Business Activity by Purpose Purchase $80,207 $73,765 $59,964 $76,570 $81,539 9 (2) Refinance 18,265 36,355 42,549 41,418 17,889 (50) 2 Total new business activity $98,472 $110,120 $102,513 $117,988 $99,428 (11) (1) New Business Activity Credit Characteristics Weighted average original LTV ratio 77 % 76 % 75 % 76 % 77 % Original LTV ratio >90% 24 % 21 % 19 % 20 % 24 % Weighted average original credit score 759 761 758 758 756 DTI ratio > 45% 26 % 24 % 24 % 25 % 28 % Fixed-rate 96 % 96 % 97 % 96 % 97 % Primary residence 94 % 94 % 94 % 95 % 94 % NEW BUSINESS ACTIVITY LOAN PURPOSE (%) Purchase 81 % 67 % 58 % 65 % 82 % Cash-out refinance 9 % 10 % 10 % 9 % 9 % Other refinance 10 % 23 % 32 % 26 % 9 % Credit Score Model Used for Pricing Assessment (%) Classic FICO Score 94 % 100 % 100 % 100 % 100 % VantageScore 4.0 6 % — % N/A N/A N/A 3Q 2025 3Q 2026 Change (%) SEGMENT RESULTS - SINGLE-FAMILY NEW BUSINESS ACTIVITY 2Q 20263Q 2026 4Q 20251Q 2026 10
FREDDIE MAC As of September 30, 2026 SELECTED SINGLE-FAMILY MORTGAGE PORTFOLIO CREDIT CHARACTERISTICS Total UPB ($ in millions) $264,135 $331,214 $251,380 $182,879 $337,547 $1,818,998 $3,186,153 Share of Single-Family mortgage portfolio 8 % 10 % 8 % 6 % 11 % 57 % 100 % Share of loans with credit enhancement 37 % 58 % 72 % 76 % 69 % 60 % 60 % Serious delinquency rate (by loan count) 0.04 % 0.27 % 0.91 % 1.32 % 1.10 % 0.56 % 0.61 % Weighted average original LTV ratio 76 % 77 % 78 % 79 % 76 % 72 % 74 % Weighted average current LTV ratio 76 % 74 % 73 % 69 % 62 % 41 % 54 % Weighted average current credit score 755 757 748 741 742 759 755 Single-Family Mortgage Portfolio Credit Characteristics 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 Weighted average current LTV ratio 54 % 53 % 53 % 53 % 53 % Weighted average current credit score 755 755 753 754 754 SEGMENT RESULTS - SINGLE-FAMILY MORTGAGE PORTFOLIO CREDIT CHARACTERISTICS 2026 2025 BY ORIGINATION YEAR 2024 2023 2022 Prior Years Total 11
FREDDIE MAC SELECTED MULTIFAMILY INCOME STATEMENT DATA ($ in millions) 2Q 2026 3Q 2025 Net interest income $583 $561 $499 $467 $408 4 43 Non-interest income (loss) 396 330 459 395 427 20 (7) Net revenues 979 891 958 862 835 10 17 (Provision) benefit for credit losses (115) 34 9 (262) (57) NM (102) Non-interest expense (217) (227) (242) (253) (248) 4 13 Income before income tax expense 647 698 725 347 530 (7) 22 Income tax expense (126) (137) (143) (68) (104) 8 (21) Net income 521 561 582 279 426 (7) 22 Other comprehensive income (loss), net of taxes and reclassification adjustments (20) 6 (7) 8 10 NM NM Comprehensive income $501 $567 $575 $287 $436 (12) 15 MULTIFAMILY NEW BUSINESS CHARACTERISTICS New business activity ($ in millions) $16,347 $18,354 $12,847 $28,949 $25,600 (11) (36) Weighted average original LTV ratio (%) 63 % 63 % 65 % 65 % 64 % Weighted average original debt service coverage ratio 1.30 1.30 1.30 1.28 1.29 Acquisitions of units by area median income <60% 39 % 35 % 38 % 35 % 34 % >60% to <80% 32 % 37 % 36 % 33 % 33 % >80% to <120% 20 % 19 % 19 % 24 % 25 % >120% 9 % 9 % 7 % 8 % 8 % SELECTED MULTIFAMILY MORTGAGE PORTFOLIO DATA ($ in millions) Multifamily mortgage portfolio (UPB) $509,584 $504,970 $498,332 $495,835 $479,964 1 6 Average guarantee fee rate charged (bps) at period end 60 59 58 56 54 2 11 MULTIFAMILY MORTGAGE PORTFOLIO CREDIT ENHANCEMENT COVERAGE OUTSTANDING (UPB in $ millions) Subordination $302,562 $311,792 $321,367 $329,709 $339,700 (3) (11) MSCR/MCIP 141,256 142,723 122,011 102,444 82,620 (1) 71 Other 8,671 8,685 8,303 8,903 9,728 — (11) Credit enhancement coverage (%) 89 % 92 % 91 % 89 % 90 % MULTIFAMILY LOAN STATISTICS Delinquency rate (%) 0.58 % 0.51 % 0.43 % 0.44 % 0.51 % 3Q 2025 3Q 2026 Change (%) SEGMENT RESULTS - MULTIFAMILY SELECTED FINANCIAL DATA 2Q 20263Q 2026 4Q 20251Q 2026 12