Freddie Mac 2015 Annual Report Download - page 11

Introduction About Freddie Mac | Forward-Looking Statements
Freddie Mac 2015 Form 10-K 9
• The success of our efforts to mitigate our losses on our Legacy single-family book and our
investments in non-agency mortgage-related securities;
• The success of our strategy to transfer mortgage credit risk through STACR debt note, ACIS, K
Certificate and other credit risk transfer transactions;
• Our ability to maintain the security of our operating systems and infrastructure (e.g., against
cyberattacks);
• Changes in economic and market conditions, including changes in employment rates, interest rates,
spreads, and home prices;
• Changes in the U.S. residential mortgage market, including changes in the supply and type of loan
products (e.g., refinance versus purchase, and fixed-rate versus ARM);
• Our ability to effectively execute our business strategies, implement new initiatives, and improve
efficiency;
• The adequacy of our risk management framework;
• Our ability to manage mortgage credit risks, including the effect of changes in underwriting and
servicing practices;
• Our ability to limit or manage our exposure to interest-rate volatility and spread volatility, including the
availability of derivative financial instruments needed for interest-rate risk management purposes;
• Changes or errors in the methodologies, models, assumptions, and estimates we use to prepare our
financial statements, make business decisions, and manage risks;
• Changes in investor demand for our debt or mortgage-related securities (e.g., single-family PCs and
multifamily K Certificates);
• Changes in the practices of loan originators, investors and other participants in the secondary
mortgage market; and
• Other factors and assumptions described in this Form 10-K, including in the “MD&A” section.
Forward-looking statements are made only as of the date of this Form 10-K, and we undertake no
obligation to update any forward-looking statements we make to reflect events or circumstances occurring
after the date of this Form 10-K.