secwatch.observer — SEC 8-K summary
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Issuer:     FEDERAL HOME LOAN MORTGAGE CORP (FMCC)
CIK:        0001026214
Form:       8-K
Filed at:   2022-11-08T23:59:59+00:00
Accession:  0001026214-22-000151
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Freddie Mac Q3 net income $1.3B, down 55% YoY; credit reserve build of $1.8B
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- Net income of $1.3B, down 55% YoY from $2.9B; net revenues $5.2B, down 1%.
- Provision for credit losses of $1.8B vs benefit of $0.2B in Q3 2021, driven by deteriorating housing market.
- Single-Family net income $0.8B (down 58% YoY); Multifamily net income $0.5B (down 47% YoY).
- New business activity $121B, down 60% YoY as refinance volume plunged; serious delinquency rate fell to 0.67% from 1.46%.
- Helped 542,000 households (392,000 single-family homes + 150,000 rental units); 56% of eligible loans affordable to low/moderate income.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1026214/000102621422000151/0001026214-22-000151-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1026214/000102621422000151/fmcc-20221108.htm
  HTML page:      https://secwatch.observer/filing/0001026214-22-000151

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