Freddie Mac 2012 Annual Report Download - page 133

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)
December 31, 2012 December 31, 2011
Issued by
Consolidated
Trusts
Issued by
Non-
Consolidated
Trusts Total
Issued by
Consolidated
Trusts
Issued by
Non-
Consolidated
Trusts Total
(in millions)
Single-family:
30-year or more amortizing fixed-rate ............... $1,039,439 $ — $1,039,439 $1,123,105 $ — $1,123,105
20-year amortizing fixed-rate ..................... 78,122 — 78,122 68,584 — 68,584
15-year amortizing fixed-rate ..................... 270,032 — 270,032 252,563 — 252,563
Adjustable-rate (2) .............................. 68,470 — 68,470 69,402 — 69,402
Interest-only (3) ................................ 41,275 — 41,275 59,007 — 59,007
FHA/VA and other governmental .................. 3,084 — 3,084 3,267 — 3,267
Total single-family ........................... 1,500,422 — 1,500,422 1,575,928 — 1,575,928
Multifamily ................................... — 4,224 4,224 — 4,496 4,496
Total single-family and multifamily ............... 1,500,422 4,224 1,504,646 1,575,928 4,496 1,580,424
Other Guarantee Transactions:
Non-HFA bonds:
Single-family(4) ............................. 10,455 3,415 13,870 12,877 3,838 16,715
Multifamily ................................ 448 36,732 37,180 — 19,682 19,682
Total Non-HFA bonds ........................ 10,903 40,147 51,050 12,877 23,520 36,397
HFA Bonds: (5)
Single-family ............................... — 4,827 4,827 — 6,118 6,118
Multifamily ................................ — 863 863 — 966 966
Total HFA bonds ............................ — 5,690 5,690 — 7,084 7,084
Total Other Guarantee Transactions .................. 10,903 45,837 56,740 12,877 30,604 43,481
REMICs and Other Structured Securities backed by Ginnie
Mae certificates (6) .............................. — 654 654 — 779 779
Total Freddie Mac Mortgage-Related Securities ......... $1,511,325 $50,715 $1,562,040 $1,588,805 $35,879 $1,624,684
Less: Repurchased Freddie Mac Mortgage-Related
Securities(7) .................................. (124,066) (136,329)
Total UPB of debt securities of consolidated trusts held by
third parties .................................. $1,387,259 $1,452,476
(1) Amounts are based on UPB of the securities and exclude mortgage-related securities traded, but not yet settled.
(2) Includes $1.0 billion and $1.2 billion in UPB of option ARM mortgage loans as of December 31, 2012 and 2011, respectively. See endnote (4) 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) Backed by non-agency mortgage-related securities that include prime, FHA/VA, and subprime mortgage loans and also include $6.3 billion and
$7.3 billion in UPB of securities backed by option ARM mortgage loans at December 31, 2012 and 2011, respectively.
(5) Consists of bonds we acquired and resecuritized under the NIBP.
(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 93% and 92% at December 31, 2012 and 2011,
respectively. Freddie Mac single-family mortgage-related securities that we issued during 2012 were backed by a significant
proportion of refinance mortgages. During 2012, the total UPB of debt securities of consolidated trusts held by third parties
declined approximately 4.5%, as the volume of our new issuances was less than the volume of liquidations of these
securities. The UPB of multifamily Other Guarantee Transactions, excluding HFA bonds, increased to $37.2 billion as of
December 31, 2012 from $19.7 billion as of December 31, 2011, due to multifamily loan securitization activity.
128 Freddie Mac