secwatch.observer — SEC 8-K summary
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Issuer:     FEDERAL HOME LOAN MORTGAGE CORP (FMCC)
CIK:        0001026214
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001026214-23-000045
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Freddie Mac Q1 net income $2.0B down 47% YoY; credit reserve build vs prior year benefit
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- Net income $2.0B, down 47% YoY from $3.8B; provision for credit losses $0.4B vs benefit of $0.8B in prior year.
- Net revenues $4.8B, down 17% YoY; net interest income up 10% to $4.5B, non-interest income fell 81% to $0.3B.
- Single-Family net income $1.7B (-51%); new business activity $59B, down 72% YoY as higher rates cut purchase and refinance.
- Multifamily net income $0.3B (-18%); financed 60,000 rental units, 89% affordable to low/moderate-income families.
- Mortgage portfolio $3.4T, up 4% YoY; serious delinquency rate 0.62%, down from 0.92% prior year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1026214/000102621423000045/0001026214-23-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1026214/000102621423000045/fmcc-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001026214-23-000045

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