Freddie Mac 2009 Annual Report Download - page 2

TABLE OF CONTENTS
PART I
Item 1. Business ..................................................................... 1
Item 1A. Risk Factors .................................................................. 33
Item 1B. Unresolved Staff Comments....................................................... 52
Item 2. Properties .................................................................... 52
Item 3. Legal Proceedings .............................................................. 52
Item 4. Submission of Matters to a Vote of Security Holders .................................... 52
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities ............................................................. 53
Item 6. Selected Financial Data .......................................................... 57
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ......... 58
Executive Summary ....................................................... 58
Consolidated Results of Operations ............................................ 73
Consolidated Balance Sheets Analysis .......................................... 100
Consolidated Fair Value Balance Sheets Analysis ................................. 124
Liquidity and Capital Resources .............................................. 126
MHA Program and Other Efforts to Assist the U.S. Housing Market ................... 134
Risk Management ......................................................... 138
Our Portfolios ........................................................... 177
Off-Balance Sheet Arrangements.............................................. 183
Contractual Obligations .................................................... 184
Critical Accounting Policies and Estimates . . .................................... 186
Risk Management and Disclosure Commitments .................................. 196
Subsequent Event ......................................................... 196
Item 7A. Quantitative and Qualitative Disclosures About Market Risk ............................... 198
Item 8. Financial Statements and Supplementary Data ......................................... 205
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure ......... 320
Item 9A. Controls and Procedures ......................................................... 320
Item 9B. Other Information .............................................................. 322
PART III
Item 10. Directors, Executive Officers and Corporate Governance.................................. 323
Item 11. Executive Compensation ......................................................... 323
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder
Matters .................................................................... 323
Item 13. Certain Relationships and Related Transactions, and Director Independence ................... 323
Item 14. Principal Accounting Fees and Services .............................................. 323
PART IV
Item 15. Exhibits and Financial Statement Schedules ........................................... 324
SIGNATURES ........................................................................ 325
GLOSSARY .......................................................................... 326
EXHIBIT INDEX ...................................................................... E-1
iFreddie Mac