Freddie Mac 2010 Annual Report Download - page 108

Table 34 presents the UPB for Freddie Mac issued mortgage-related securities by the underlying mortgage product type.
Balances as of December 31, 2010 are based on the UPB of the securities. Balances as of December 31, 2009 and 2008 are
based on the UPB of the mortgage loans underlying our mortgage-related financial guarantees, including those underlying
our securities (regardless of whether such securities are held by us or third parties) which were issued by trusts that were not
consolidated on our balance sheets prior to January 1, 2010.
Table 34 — Freddie Mac Mortgage-Related Securities
(1)
Issued by
Consolidated
Trusts
Issued by
Non-Consolidated
Trusts Total Total Total
December 31, 2010
(2)
December 31, 2009
(2)
December 31, 2008
(2)
(in millions)
Single-family:
30-year or more amortizing fixed-rate . .......... $1,213,448 $ — $1,213,448 $1,318,053 $1,213,361
20-year amortizing fixed-rate . . .............. 65,210 — 65,210 57,705 63,587
15-year amortizing fixed-rate . . .............. 248,702 — 248,702 241,721 243,704
Adjustable-rate
(3)
......................... 61,269 — 61,269 68,428 93,705
Interest-only
(4)
.......................... 79,835 — 79,835 131,529 160,588
FHA/VA and USDA Rural Development ......... 3,369 — 3,369 1,343 1,428
Total single-family ...................... 1,671,833 — 1,671,833 1,818,779 1,776,373
Multifamily .............................. — 4,603 4,603 5,085 5,677
Total single-family and multifamily ........... 1,671,833 4,603 1,676,436 1,823,864 1,782,050
Other Guarantee Transactions:
HFA bonds:
(5)
Single-family. . . ....................... — 6,168 6,168 3,113 —
Multifamily . . . . ....................... — 1,173 1,173 391 —
Total HFA bonds ....................... — 7,341 7,341 3,504 —
All Other Guarantee Transactions:
Single-family
(6)
........................ 15,806 4,243 20,049 23,841 23,585
Multifamily . . . . ....................... — 8,235 8,235 2,655 829
Total Other Guarantee Transactions. .......... 15,806 12,478 28,284 26,496 24,414
REMICs and Other Structured Securities backed by
Ginnie Mae Certificates
(7)
................... — 857 857 949 1,089
Total Freddie Mac Mortgage-Related Securities . . .... $1,687,639 $25,279 $1,712,918 $1,854,813 $1,807,553
Less: Repurchased Freddie Mac Mortgage-Related
Securities
(8)
............................ (170,638)
Total UPB of debt securities of consolidated trusts held
by third parties . . . ....................... $1,517,001
(1) Based on UPB of the securities and excludes mortgage-related debt traded, but not yet settled.
(2) Excludes other guarantee commitments for mortgage assets held by third parties that require us to purchase loans from lenders when these loans meet
certain delinquency criteria. Prior year amounts have been revised to conform to the current presentation.
(3) Includes $1.3 billion, $1.4 billion, and $1.6 billion in UPB of option ARM mortgage loans as of December 31, 2010, 2009, and 2008, respectively. See
endnote (6) for additional information on option ARM loans that back our Other Guarantee Transactions.
(4) Represents loans where the borrower pays interest only for a period of time before the borrower begins making principal payments. Includes both fixed-
and variable-rate interest-only loans.
(5) Consists of bonds we acquired and resecuritized under the NIBP.
(6) Backed by non-agency mortgage-related securities that include prime, FHA/VA and subprime mortgage loans and also include $8.4 billion, $9.6 billion,
and $10.8 billion in UPB of securities backed by option ARM mortgage loans at December 31, 2010, 2009, and December 31, 2008, respectively.
(7) Backed by FHA/VA loans.
(8) Represents the UPB of repurchased Freddie Mac mortgage-related securities that are consolidated on our balance sheets and includes certain remittance
amounts associated with our security trust administration that are payable to third-party mortgage-related security holders as of December 31, 2010. Our
holdings of non-consolidated Freddie Mac mortgage-related securities are presented in “Table 23 — Characteristics of Mortgage-Related Securitieson
Our Consolidated Balance Sheets.”
105 Freddie Mac