Freddie Mac 2015 Annual Report Download - page 309

Financial Statements Notes to the Consolidated Financial Statements | Note 14
Freddie Mac 2015 Form 10-K 307
The total compensation that we receive for the delivery of a HARP loan reflects the pricing that we are
willing to offer because HARP is a part of a broader government program intended to provide assistance
to homeowners and prevent foreclosures. When HARP ends in December 2016, the beneficial pricing
afforded to HARP loans will no longer be reflected in the pricing structure of our management and
guarantee fees. If these benefits were not reflected in the pricing for these loans, the fair value of our
loans would have decreased by $12.9 billion and $19.1 billion as of December 31, 2015 and 2014,
respectively. The total fair value of the loans in our portfolio that reflect the pricing afforded to HARP loans
as of December 31, 2015 and 2014 is $82.8 billion and $119.8 billion, respectively.
ASSETS AND LIABILITIES ON OUR CONSOLIDATED BALANCE SHEETS
MEASURED AT FAIR VALUE ON A RECURRING BASIS
The following tables present our assets and liabilities measured on our consolidated balance sheets at
fair value on a recurring basis subsequent to initial recognition, including instruments where we have
elected the fair value option, as of December 31, 2015 and 2014.