Freddie Mac 2008 Annual Report Download - page 130

Table 50 provides information about our total mortgage portfolio at December 31, 2008, 2007 and 2006.
Table 50 — Total Mortgage Portfolio and Segment Portfolio Composition
(1)
2008 2007 2006
December 31,
(in millions)
Total mortgage portfolio:
Mortgage-related investments portfolio:
Single-family mortgage loans . . . . . .......................................... $ 38,755 $ 24,589 $ 20,640
Multifamily mortgage loans................................................. 72,721 57,569 45,207
Total mortgage loans . . . ................................................. 111,476 82,158 65,847
Guaranteed PCs and Structured Securities in the mortgage-related investments portfolio ........ 424,524 356,970 354,262
Non-Freddie Mac mortgage-related securities, agency . . . . ........................... 70,852 47,836 45,385
Non-Freddie Mac mortgage-related securities, non-agency . ........................... 197,910 233,849 238,465
Total non-Freddie Mac mortgage-related securities . . . . ........................... 268,762 281,685 283,850
Total Mortgage-related investments portfolio
(2)
..................................... 804,762 720,813 703,959
Guaranteed PCs and Structured Securities held by third parties:
Single-family PCs and Structured Securities. . .................................... 1,381,531 1,363,613 1,105,437
Single-family Structured Transactions .......................................... 7,586 9,351 8,424
Multifamily PCs and Structured Securities . . . .................................... 12,768 7,999 8,033
Multifamily Structured Transactions . .......................................... 829 900 867
Total guaranteed PCs and Structured Securities held by third parties ...................... 1,402,714 1,381,863 1,122,761
Total mortgage portfolio ..................................................... $2,207,476 $2,102,676 $1,826,720
Guaranteed PCs and Structured Securities:
In our mortgage-related investments portfolio . . .................................... $ 424,524 $ 356,970 $ 354,262
Held by third parties ....................................................... 1,402,714 1,381,863 1,122,761
Total Guaranteed PCs and Structured Securities .................................... $1,827,238 $1,738,833 $1,477,023
Segment portfolios:
Investments — Mortgage-related investments portfolio:
Single-family mortgage loans . . . . . .......................................... $ 38,755 $ 24,589 $ 20,640
Guaranteed PCs and Structured Securities in the mortgage-related investments portfolio ........ 424,524 356,970 354,262
Non-Freddie Mac mortgage-related securities in the mortgage-related investments portfolio . . . . . 268,762 281,685 283,850
Total Investments — Mortgage-related investments portfolio
(3)
........................... 732,041 663,244 658,752
Single-family Guarantee — Credit guarantee portfolio:
Single-family PCs and Structured Securities in our mortgage-related investments portfolio . . . . . . 405,375 343,071 336,869
Single-family PCs and Structured Securities held by third parties ....................... 1,381,531 1,363,613 1,105,437
Single-family Structured Transactions in our mortgage-related investments portfolio .......... 17,088 11,240 17,011
Single-family Structured Transactions held by third parties. ........................... 7,586 9,351 8,424
Total Single-family Guarantee — Credit guarantee portfolio............................. 1,811,580 1,727,275 1,467,741
Multifamily — Guarantee and loan portfolios:
Multifamily PCs and other Structured Securities ................................... 14,829 10,658 8,415
Multifamily Structured Transactions . .......................................... 829 900 867
Total multifamily guarantee portfolio ......................................... 15,658 11,558 9,282
Multifamily loan portfolio . ................................................. 72,721 57,569 45,207
Total Multifamily — Guarantee and loan portfolios .................................. 88,379 69,127 54,489
Less: Guaranteed PCs and Structured Securities in the mortgage-related investments portfolio
(4)
. . . . (424,524) (356,970) (354,262)
Total mortgage portfolio ..................................................... $2,207,476 $2,102,676 $1,826,720
(1) Based on unpaid principal balance and excludes mortgage loans and mortgage-related securities traded, but not yet settled. For PCs and Structured
Securities, the balance reflects reported security balances and not the unpaid principal of the underlying mortgage loans. Mortgage loans held in our
mortgage-related investments portfolio reflect the unpaid principal balance of the loan.
(2) See “CONSOLIDATED BALANCE SHEETS ANALYSIS — Mortgage-Related Investments Portfolio” for reconciliations of the mortgage-related
investments portfolio amounts shown in this table to the amounts shown on our consolidated balance sheets.
(3) Includes certain assets related to Single-family Guarantee activities and Multifamily activities.
(4) The amount of our PCs and Structured Securities in the mortgage-related investments portfolio is included in both our segments’ mortgage-related and
guarantee portfolios and thus deducted in order to reconcile to our total mortgage portfolio.
In 2008 and 2007, our total mortgage portfolio grew at a rate of 5% and 15%, respectively. Our new business purchases
consist of mortgage loans and non-Freddie Mac mortgage-related securities that are purchased for our mortgage-related
investments portfolio or serve as collateral for our issued PCs and Structured Securities. We generate a significant portion of
our mortgage purchase volume through several key mortgage lenders. Table 51 summarizes purchases into our total mortgage
portfolio.
127 Freddie Mac