Freddie Mac 2015 Annual Report Download - page 239
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Financial Statements Notes to the Consolidated Financial Statements | Note 4
Freddie Mac 2015 Form 10-K 237
LOAN LOSS RESERVES
The loan loss reserves represent estimates of probable incurred credit losses. We recognize probable
incurred losses by recording a charge to the provision for credit losses in our consolidated statements of
comprehensive income. The loan loss reserves include:
• Our allowance for loan losses, which pertains to all single-family and multifamily loans classified as
held-for-investment on our consolidated balance sheets; and
• Our reserve for guarantee losses, which pertains to single-family and multifamily loans underlying our
K Certificates, other securitization products, and other mortgage-related guarantees.
A significant portion of the unsecuritized single-family loans on our consolidated balance sheets are
seriously delinquent and/or TDR loans that we previously removed from our PC pools. These seriously
delinquent and TDR loans typically have a higher associated allowance for loan loss than loans that
remain in consolidated trusts.