Freddie Mac 2015 Annual Report Download - page 237

Financial Statements Notes to the Consolidated Financial Statements | Note 4
Freddie Mac 2015 Form 10-K 235
MORTGAGE LOAN PERFORMANCE
The following table presents the recorded investment of our single-family and multifamily loans, held-for-
investment, by payment status.
December 31, 2015
(in millions) Current
One
Month
Past Due
Two
Months
Past Due
Three
Months or
More Past
Due,
or in
Foreclosure(1) Total Non-accrual
Single-family:
20 and 30-year or more, amortizing
fixed-rate $ 1,280,247 $ 16,178 $ 5,037 $ 12,606 $ 1,314,068 $ 12,603
15-year amortizing fixed-rate 284,137 935 183 355 285,610 355
Adjustable-rate 64,326 359 88 255 65,028 255
Alt-A, interest-only, and option
ARM 43,543 1,962 714 2,404 48,623 2,403
Total single-family 1,672,253 19,434 6,022 15,620 1,713,329 15,616
Total multifamily 31,203 — — — 31,203 170
Total single-family and multifamily $ 1,703,456 $ 19,434 $ 6,022 $ 15,620 $ 1,744,532 $ 15,786
December 31, 2014
(in millions) Current
One
Month
Past Due
Two
Months
Past Due
Three
Months or
More Past
Due,
or in
Foreclosure(1) Total Non-accrual
Single-family:
20 and 30-year or more, amortizing
fixed-rate $ 1,207,826 $ 17,516 $ 5,817 $ 23,436 $ 1,254,595 $ 23,433
15-year amortizing fixed-rate 280,629 1,010 216 682 282,537 682
Adjustable-rate 66,737 406 118 612 67,873 612
Alt-A, interest-only, and option
ARM 53,251 2,368 948 7,048 63,615 7,045
Total single-family 1,608,443 21,300 7,099 31,778 1,668,620 31,772
Total multifamily 41,335 7 11 — 41,353 385
Total single-family and multifamily $ 1,649,778 $ 21,307 $ 7,110 $ 31,778 $ 1,709,973 $ 32,157
(1) Includes $7.0 billion and $17.9 billion of loans that were in the process of foreclosure as of December 31, 2015 and 2014,
respectively.
We have the option under our PC master trust agreement to remove loans that underlie our PCs under
certain circumstances to resolve an existing or impending delinquency or default. Our practice generally
has been to remove loans from PC trusts when the loans have been delinquent for 120 days or more.
When we remove loans from PC trusts, we record an extinguishment of the corresponding portion of the
debt securities of the consolidated trusts and we reclassify the loans from mortgage loans held-for-
investment by consolidated trusts to mortgage loans held-for-investment by Freddie Mac. We removed
$8.4 billion and $11.2 billion in UPB of loans from PC trusts (or purchased delinquent loans associated
with other mortgage-related guarantees) during the years ended December 31, 2015 and 2014,
respectively.