Freddie Mac 2011 Annual Report Download - page 130

The table below presents the UPB for Freddie Mac issued mortgage-related securities by the underlying mortgage
product type.
Table 35 — Freddie Mac Mortgage-Related Securities
(1)
Issued by
Consolidated
Trusts
Issued by
Non-Consolidated
Trusts Total
Issued by
Consolidated
Trusts
Issued by
Non-Consolidated
Trusts Total Total
December 31, 2011 December 31, 2010 December 31, 2009
(in millions)
Single-family:
30-year or more amortizing fixed-rate . . . $1,123,105 $ — $1,123,105 $1,213,448 $ — $1,213,448 $1,318,053
20-year amortizing fixed-rate . . . ..... 68,584 — 68,584 65,210 — 65,210 57,705
15-year amortizing fixed-rate . . . ..... 252,563 — 252,563 248,702 — 248,702 241,721
Adjustable-rate
(2)
................ 69,402 — 69,402 61,269 — 61,269 68,428
Interest-only
(3)
.................. 59,007 — 59,007 79,835 — 79,835 131,529
FHA/VA and other governmental . ..... 3,267 — 3,267 3,369 — 3,369 1,343
Total single-family .............. 1,575,928 — 1,575,928 1,671,833 — 1,671,833 1,818,779
Multifamily . .................... — 4,496 4,496 — 4,603 4,603 5,085
Total single-family and multifamily . . . 1,575,928 4,496 1,580,424 1,671,833 4,603 1,676,436 1,823,864
Other Guarantee Transactions:
HFA bonds:
(4)
Single-family . . ............... — 6,118 6,118 — 6,168 6,168 3,113
Multifamily . . . ............... — 966 966 — 1,173 1,173 391
Total HFA bonds ............... — 7,084 7,084 — 7,341 7,341 3,504
Other:
Single-family
(5)
................ 12,877 3,838 16,715 15,806 4,243 20,049 23,841
Multifamily . . . ............... — 19,682 19,682 — 8,235 8,235 2,655
Total Other Guarantee Transactions . . . 12,877 23,520 36,397 15,806 12,478 28,284 26,496
REMICs and Other Structured Securities
backed by Ginnie Mae Certificates
(6)
. . . — 779 779 — 857 857 949
Total Freddie Mac Mortgage-Related
Securities . .................... $1,588,805 $35,879 $1,624,684 $1,687,639 $25,279 $1,712,918 $1,854,813
Less: Repurchased Freddie Mac Mortgage-
Related Securities
(7)
.............. (136,329) (170,638)
Total UPB of debt securities of consolidated
trusts held by third parties .......... $1,452,476 $1,517,001
(1) 2011 and 2010 amounts are based on UPB of the securities and excludes mortgage-related debt traded, but not yet settled. 2009 amounts are based
on UPB of the mortgage loans underlying our mortgage-related financial guarantees.
(2) Includes $1.2 billion, $1.3 billion, and $1.4 billion in UPB of option ARM mortgage loans as of December 31, 2011, 2010, and 2009, respectively.
See endnote (5) for additional information on option ARM loans that back our Other Guarantee Transactions.
(3) 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.
(4) Consists of bonds we acquired and resecuritized under the NIBP.
(5) Backed by non-agency mortgage-related securities that include prime, FHA/VA, and subprime mortgage loans and also include $7.3 billion,
$8.4 billion, and $9.6 billion in UPB of securities backed by option ARM mortgage loans at December 31, 2011, 2010, and 2009, respectively.
(6) Backed by FHA/VA loans.
(7) 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. Our holdings
of non-consolidated Freddie Mac mortgage-related securities are presented in “Table 23 — Characteristics of Mortgage-Related Securities on Our
Consolidated Balance Sheets.”
Excluding Other Guarantee Transactions, the percentage of amortizing fixed-rate single-family loans underlying our
consolidated trust debt securities, based on UPB, was approximately 92% at both December 31, 2011 and 2010. The
majority of newly issued Freddie Mac single-family mortgage-related securities during 2011 were backed by refinance
mortgages. During 2011, the UPB of Freddie Mac mortgage-related securities issued by consolidated trusts declined
approximately 5.9%, as the volume of our new issuances has been less than the volume of liquidations of these securities.
The UPB of multifamily Other Guarantee Transactions, excluding HFA-related securities, increased to $19.7 billion as of
December 31, 2011 from $8.2 billion as of December 31, 2010, due to increased multifamily loan securitization activity.
125 Freddie Mac