Overview
Federal Home Loan Mortgage Corporation (Freddie Mac) is a congressionally chartered government-sponsored enterprise that operates in the U.S. secondary mortgage market. It buys residential mortgage loans from lenders and supports mortgage funding by securitizing loans and guaranteeing mortgage-related securities; it does not originate mortgages or lend directly to borrowers. Its core markets are single-family housing and multifamily rental housing in the United States.[1][2]
Freddie Mac’s public-purpose mission is to provide liquidity, stability, and affordability to the U.S. housing market. Chartered in 1970, it reported $23.3 billion in revenue for fiscal year 2025.[1][3][4] [1][3][4][2]
Products & services
Freddie Mac’s single-family mortgage products include long-term fixed-rate, shorter-term fixed-rate and adjustable-rate loans. In its year-to-date 2026 purchase mix, 90% of purchase amount was 20- or 30-year amortizing fixed-rate loans, 6% shorter-term fixed-rate loans and 4% adjustable-rate loans. Home Possible offers eligible borrowers down payments as low as 3% and flexible funding sources; HomeOne offers a 3%-down option for qualified first-time buyers and no-cash-out refinances. CHOICERenovation can finance eligible renovation costs with a purchase or refinance loan, while CHOICEHome supports eligible manufactured homes.[5][6][7][8][9]
For multifamily borrowers, Freddie Mac’s Optigo offerings include fixed- and floating-rate conventional loans, small-balance loans, forward commitments and supplemental loans, as well as financing for seniors housing, student housing and manufactured-housing communities. Fixed-rate borrowers can lock the Treasury-index component during quoting or underwriting; most index-lock periods are 60 days. Freddie Mac also provides loan-modification options that may change payment timing, interest rate or loan term, with modifications generally requiring a trial period of at least three months.[10][11][12][13] [5][12][13][6][7][8][9][10][11]
Geographic presence
Freddie Mac operates in the United States and its territories; it reports no revenue or non-financial-instrument long-lived assets outside those geographies. Its mortgage portfolio is also concentrated in U.S. regions; the percentages below are shares of unpaid principal balance (UPB), not revenue. In single-family, UPB is distributed across the West (29%), Northeast (23%), Southeast (18%), Southwest (15%) and North Central (15%).[14][15] In multifamily, the shares are Northeast (25%), West (23%), Southeast (21%), Southwest (20%) and North Central (11%).[16]
By state, single-family UPB includes California (16%), Texas (7%), Florida (7%), New York (4%) and Illinois (4%); all other states account for 62%.[15] Multifamily UPB includes California (13%), Texas (12%), Florida (9%), New York (8%) and Georgia (4%); all other states account for 54%.[16] As of January 31, 2026, Freddie Mac had 7,334 full-time and 21 part-time employees and was headquartered in McLean, Virginia; its principal offices are four owned buildings there totaling about 1.3 million square feet.[17][14] Its listed regional office locations include Chicago, Plano/Dallas, Irvine and Jersey City.[18] [14][15][15][15][15][15][16][16][16][16][16][15][15][15][15][15][15][16][16][16][16][16][16][17][14][18][18]
Business segments
Freddie Mac reports two business segments: **Single-Family** and **Multifamily** [19]. Single-Family purchases, securitizes and guarantees single-family loans, invests in single-family loans and mortgage-related securities, and manages related mortgage credit and market risk; its reported results also include unallocated Treasury-function results [20]. Multifamily purchases, securitizes and guarantees multifamily loans, invests in multifamily loans and mortgage-related securities, and manages related mortgage credit and market risk [20].
For the year ended December 31, 2025, Single-Family generated $19.859 billion of net revenues and $9.198 billion of net income, while Multifamily generated $3.412 billion and $1.533 billion, respectively [21]. Based on those reported figures, Single-Family contributed approximately 85.3% of total net revenues and 85.7% of net income; Multifamily contributed approximately 14.7% and 14.3%, respectively [21]. [19][20][21][21][21][21]
Company history
Congress chartered the Federal Home Loan Mortgage Corporation in 1970 under the Emergency Home Finance Act. In 1971, Freddie Mac issued its first mortgage-backed participation certificates and began its Primary Mortgage Market Survey.[22][23][24]
In 1989, amendments to its charter created Voting Common Stock.[25] On September 6, 2008, the Federal Housing Finance Agency placed Freddie Mac into conservatorship.[26] In 2019, Freddie Mac began issuing Uniform Mortgage-Backed Securities, marking a major change in the agency mortgage-securities market.[27] [22][23][24][25][26][27][23][24][25][27]
Sources
- FEDERAL HOME LOAN MORTGAGE CORP — Full financial report (2025 Y)
- www.freddiemac.com[2]
- FEDERAL HOME LOAN MORTGAGE CORP — Press release (2025 Y)[3][4]
- FEDERAL HOME LOAN MORTGAGE CORP — Full financial report (2026 Q 2)[5]
- sf.freddiemac.com[6]
- sf.freddiemac.com[7]
- sf.freddiemac.com[8]
- sf.freddiemac.com[9]
- mf.freddiemac.com[10]
- mf.freddiemac.com[11]
- www.freddiemac.com[18]
- FEDERAL HOME LOAN MORTGAGE CORP — Full financial report (2026 Q 1)[22]
- www.sec.gov[23]
- www.freddiemac.com[24]
- www.freddiemac.com[25]
- sf.freddiemac.com[27]
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