Freddie Mac 2014 Annual Report Download - page 170

165 Freddie Mac
Table 3.1 — Variable Interests in VIEs for which We are not the Primary Beneficiary
December 31, 2014
Mortgage-Related
Security Trusts Unsecuritized
Multifamily
Loans (3)
Freddie Mac
Securities(1) Non-Freddie Mac Securities(2) Other(2)
(in millions)
Assets and Liabilities Recorded on our Consolidated Balance
Sheets
Assets:
Restricted cash and cash equivalents $ — $ — $ — $ 3
Investments in securities:
Available-for-sale, at fair value 39,099 65,253 — —
Trading, at fair value 17,469 6,282 — —
Mortgage loans:
Held-for-investment, unsecuritized — — 40,753 —
Held-for-sale — — 12,368 —
Accrued interest receivable 236 165 221 7
Other assets 914 2 369 495
Liabilities:
Derivative liabilities, net — — — (30)
Other liabilities (1,005) — (10) (560)
Maximum Exposure to Loss $ 87,529 $ 69,206 $ 53,711 $ 10,419
Total Assets of Non-Consolidated VIEs(4) $ 103,253 $ 390,515 $ 95,874 $ 22,855
December 31, 2013
Mortgage-Related
Security Trusts Unsecuritized
Multifamily
Loans(3)
Freddie Mac
Securities(1) Non-Freddie Mac Securities(2) Other(2)
(in millions)
Assets and Liabilities Recorded on our Consolidated Balance
Sheets
Assets:
Restricted cash and cash equivalents $ 6 $ — $ 8 $ 58
Investments in securities:
Available-for-sale, at fair value 40,659 84,765 — —
Trading, at fair value 9,349 7,414 — —
Mortgage loans:
Held-for-investment, unsecuritized — — 50,306 —
Held-for-sale — — 8,727 —
Accrued interest receivable 232 226 261 7
Other assets 833 14 407 477
Liabilities:
Derivative liabilities, net (3) — — (35)
Other liabilities (875) (2) (12) (558)
Maximum Exposure to Loss $ 72,072 $ 92,559 $ 59,710 $ 10,415
Total Assets of Non-Consolidated VIEs(4) $ 84,731 $ 506,699 $ 105,120 $ 23,707
(1) Freddie Mac securities include our variable interests in single-family multiclass REMICs and Other Structured Securities, multifamily PCs, multifamily
Other Structured Securities, and Other Guarantee Transactions that we do not consolidate. Our maximum exposure to loss includes guaranteed UPB of
assets held by the non-consolidated VIEs related to multifamily PCs, multifamily Other Structured Securities, and Other Guarantee Transactions. Our
maximum exposure to loss on Freddie Mac securities excludes investments in single-family multiclass REMICs and Other Structured Securities,
because we already consolidate the collateral of these trusts on our consolidated balance sheets.
(2) Our maximum exposure to loss for non-Freddie Mac security trusts and certain other VIEs is computed as the carrying amount if the security is
classified as trading or the amortized cost if the security is classified as available-for-sale for our investments recorded on our consolidated balance
sheets.
(3) Our maximum exposure to loss includes accrued interest receivable associated with these loans.
(4) Except for unsecuritized multifamily loans, this represents the UPB of assets held by non-consolidated VIEs using the most current information
available. For unsecuritized multifamily loans, this represents the fair value of the property serving as collateral for the loan.
Table of Contents