Freddie Mac 2005 Annual Report Download - page 3

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Please find page 3 of the 2005 Freddie Mac annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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2005 was a year of continuing progress for Freddie Mac.
Overall, our business performed well. We were successful in improving
our position with customers, meeting extraordinary mission demands,
and strengthening our capital position and balance sheet. We grew
our mortgage portfolio and our share of the market. At the same time,
we kept our interest-rate and credit risks exceptionally low. These
were all major accomplishments, given rising interest rates and diverse
challenges that included increased competition, diminished housing
affordability, and widespread storm devastation along the Gulf Coast.
No less important, we provided more support for affordable housing
than ever before. And we made this key aspect of our broad mission
part of the everyday flow of our business.
When the Gulf hurricanes struck, Freddie Mac demonstrated the kind of leadership and
market influence that sets us apart as a government-sponsored enterprise, or GSE. By
moving quickly to provide relief to affected homeowners and mortgage servicers — and
taking the lead by investing in state and local mortgage revenue bonds — we helped
bring stability and hope to the affected region. Although we are a large, national company,
our actions in the Gulf region made a real difference, at the local level, for thousands of
struggling families and individuals.