Federal Home Loan Mortgage 8K Results of Operations and Financial Condition | FMCC 25 Apr 12

Exhibit 99.1


		Monthly Volume Summary: March 2012 (unaudited & subject to change) (dollars in millions)


TABLE 1 - TOTAL MORTGAGE PORTFOLIO ^{1, 2}																					March 2012 Highlights:

	Purchases and Issuances		Sales ³			Liquidations			Net Increase/ (Decrease)			Ending Balance			Annualized Growth Rate			Annualized Liquidation Rate			> The total mortgage portfolio decreased at an annualized rate of 2.9% in March. > Single-family refinance-loan purchase and guarantee volume was $34.9 billion in March, representing 83% of total mortgage portfolio purchases and issuances. > Total number of loan modifications were 4,308 in March 2012 and 13,677 for the three months ended March 31, 2012. > The aggregate unpaid principal balance (UPB) of our mortgage-related investments portfolio decreased by approximately $9.5 billion in March. > Freddie Mac mortgage-related securities and other guarantee commitments increased at an annualized rate of 0.2% in March. > Our single-family seriously delinquent rate decreased from 3.57% in February to 3.51% in March. Our multifamily delinquency rate increased from 0.21% in February to 0.23% in March. > The measure of our exposure to changes in portfolio market value (PMVS-L) averaged $233 million in March. Duration gap averaged 0 months. > On September 6, 2008, the Director of the Federal Housing Finance Agency (FHFA) appointed FHFA as Conservator of Freddie Mac.


Mar 2011	$	26,911		($2,253	)		($33,003	)		($8,345	)	$	2,143,472			(4.7	%)		18.4	%
Apr		23,836		(1,351	)		(28,124	)		(5,639	)		2,137,833			(3.2	%)		15.7	%
May		23,163		(2,635	)		(26,721	)		(6,193	)		2,131,640			(3.5	%)		15.0	%
Jun		26,406		(3,280	)		(26,107	)		(2,981	)		2,128,659			(1.7	%)		14.7	%
Jul		20,727		(54	)		(28,602	)		(7,929	)		2,120,730			(4.5	%)		16.1	%
Aug		27,727		(1,781	)		(29,803	)		(3,857	)		2,116,873			(2.2	%)		16.9	%
Sep		32,285		(1,766	)		(33,223	)		(2,704	)		2,114,169			(1.5	%)		18.8	%
Oct		33,436		(2,185	)		(40,480	)		(9,229	)		2,104,940			(5.2	%)		23.0	%
Nov		38,072		(3,273	)		(46,832	)		(12,033	)		2,092,907			(6.9	%)		26.7	%
Dec		30,713		(1,230	)		(46,996	)		(17,513	)		2,075,394			(10.0	%)		26.9	%


Full-Year 2011		361,047		(20,981	)		(429,531	)		(89,465	)		2,075,394			(4.1	%)		19.8	%

Jan 2012		34,381		—			(42,709	)		(8,328	)		2,067,066			(4.8	%)		24.7	%
Feb		37,633		(3,517	)		(39,771	)		(5,655	)		2,061,411			(3.3	%)		23.1	%
Mar		41,999		(1,603	)		(45,306	)		(4,910	)		2,056,501			(2.9	%)		26.4	%


YTD 2012	$	114,013		($5,120	)		($127,786	)		($18,893	)	$	2,056,501			(3.6	%)		24.6	%




TABLE 2 - MORTGAGE-RELATED INVESTMENTS PORTFOLIO ¹																											TABLE 3 - MORTGAGE-RELATED INVESTMENTS PORTFOLIO COMPONENTS ¹

																		Mortgage			Mortgage			Net Purchase				PCs, REMICs and Other		Non-Freddie Mac Mortgage-
									Ending			Annualized			Annualized			Purchase			Sale			(Sale)				Structured		Related Securities				Mortgage		Ending

	Purchases ⁴		Sales			Liquidations			Balance			Growth Rate			Liquidation Rate			Agreements ⁵			Agreements ⁶			Agreements ⁷				Securities		Agency		Non-Agency		Loans		Balance

Mar 2011	$	14,984		($7,515	)		($11,611	)	$	692,038			(7.1	%)		20.0	%	$	15,397			($15,875	)		($478	)	Mar 2011	$	258,480	$	38,547	$	154,676	$	240,335	$	692,038
Apr		12,277		(7,121	)		(10,448	)		686,746			(9.2	%)		18.1	%		24,208			(24,576	)		(368	)	Apr		255,059		37,657		153,297		240,733		686,746
May		17,916		(4,739	)		(10,290	)		689,633			5.0	%		18.0	%		28,185			(28,071	)		114		May		260,663		36,602		151,993		240,375		689,633
Jun		10,653		(5,028	)		(10,225	)		685,033			(8.0	%)		17.8	%		27,439			(24,686	)		2,753		Jun		258,768		36,041		150,274		239,950		685,033
Jul		12,797		(5,295	)		(9,498	)		683,037			(3.5	%)		16.6	%		36,292			(36,360	)		(68	)	Jul		256,078		35,564		149,125		242,270		683,037
Aug		11,860		(4,423	)		(9,904	)		680,570			(4.3	%)		17.4	%		40,654			(33,942	)		6,712		Aug		256,494		35,258		147,739		241,079		680,570
Sep		18,867		(9,800	)		(10,504	)		679,133			(2.5	%)		18.5	%		38,384			(31,289	)		7,095		Sep		254,055		35,582		146,553		242,943		679,133
Oct		12,772		(12,389	)		(10,416	)		669,100			(17.7	%)		18.4	%		29,987			(26,113	)		3,874		Oct		243,930		33,643		145,021		246,506		669,100
Nov		16,798		(11,552	)		(11,071	)		663,275			(10.4	%)		19.9	%		29,310			(21,393	)		7,917		Nov		236,607		33,660		143,938		249,070		663,275
Dec		11,467		(9,571	)		(11,858	)		653,313			(18.0	%)		21.5	%		13,697			(5,502	)		8,195		Dec		223,667		33,042		142,634		253,970		653,313


Full-Year 2011		177,391		(90,748	)		(130,204	)		653,313			(6.3	%)		18.7	%		315,861			(277,802	)		38,059		Full-Year 2011		223,667		33,042		142,634		253,970		653,313


Jan 2012		8,921		(9,257	)		(10,480	)		642,497			(19.9	%)		19.2	%		8,982			(10,191	)		(1,209	)	Jan 2012		212,346		32,352		141,409		256,390		642,497
Feb		592		(5,507	)		(9,763	)		627,819			(27.4	%)		18.2	%		7,951			(11,695	)		(3,744	)	Feb		206,100		31,048		139,780		250,891		627,819
Mar		3,510		(2,362	)		(10,669	)		618,298			(18.2	%)		20.4	%		9,958			(21,009	)		(11,051	)	Mar		201,746		30,249		138,318		247,985		618,298


YTD 2012	$	13,023		($17,126	)		($30,912	)	$	618,298			(21.4	%)		18.9	%	$	26,891			($42,895	)		($16,004	)	YTD 2012	$	201,746	$	30,249	$	138,318	$	247,985	$	618,298

Please see Endnotes on page 3.

Page 1 of 3


TABLE 4 - FREDDIE MAC MORTGAGE-RELATED SECURITIES AND OTHER GUARANTEE COMMITMENTS ^{1, 8}																			TABLE 5 - OTHER DEBT ACTIVITIES ¹¹

																				Original Maturity< 1 Year		Original Maturity > 1 Year

	Issuances			Liquidations ⁹			Net Increase/ (Decrease)			Ending Balance ¹⁰			Annualized Growth Rate			Annualized Liquidation Rate				Ending Balance		Issuances		Maturities and Redemptions			Repurchases			Foreign Exchange Translation			Ending Balance		Total Debt Outstanding

Mar 2011	$	23,893			($31,448	)		($7,555	)	$	1,709,914			(5.3	%)		22.0	%	Mar 2011	$	196,736	$	29,526		($28,751	)		($90	)	$	57		$	532,324	$	729,060
Apr		22,689			(26,457	)		(3,768	)		1,706,146			(2.6	%)		18.6	%	Apr		190,663		16,875		(38,964	)		(350	)		97			509,982		700,645
May		20,700			(24,176	)		(3,476	)		1,702,670			(2.4	%)		17.0	%	May		190,696		14,737		(16,491	)		—			(68	)		508,160		698,856
Jun		22,834			(23,110	)		(276	)		1,702,394			(0.2	%)		16.3	%	Jun		189,160		28,116		(29,305	)		(930	)		18			506,059		695,219
Jul		17,850			(26,473	)		(8,623	)		1,693,771			(6.1	%)		18.7	%	Jul		181,416		25,750		(18,940	)		—			(19	)		512,850		694,266
Aug		26,044			(27,018	)		(974	)		1,692,797			(0.7	%)		19.1	%	Aug		187,718		23,433		(26,846	)		(4,174	)		3			505,266		692,984
Sep		26,536			(30,242	)		(3,706	)		1,689,091			(2.6	%)		21.4	%	Sep		180,810		37,190		(33,218	)		—			(130	)		509,108		689,918
Oct		28,707			(38,028	)		(9,321	)		1,679,770			(6.6	%)		27.0	%	Oct		167,251		24,137		(19,365	)		—			71			513,951		681,202
Nov		30,498			(44,029	)		(13,531	)		1,666,239			(9.7	%)		31.5	%	Nov		160,544		23,515		(16,448	)		(4,080	)		(65	)		516,873		677,417
Dec		22,687			(43,178	)		(20,491	)		1,645,748			(14.8	%)		31.1	%	Dec		161,443		27,045		(30,684	)		(300	)		(63	)		512,871		674,314

Full-Year 2011		317,261			(403,101	)		(85,840	)		1,645,748			(5.0	%)		23.3	%	Full-Year 2011		161,443		297,774		(303,069	)		(12,772	)		(40	)		512,871		674,314

Jan 2012		31,233			(40,066	)		(8,833	)		1,636,915			(6.4	%)		29.2	%	Jan 2012		155,579		29,650		(28,084	)		(1,147	)		(1	)		513,289		668,868
Feb		40,098			(37,321	)		2,777			1,639,692			2.0	%		27.4	%	Feb		137,864		25,988		(20,520	)		—			25			518,782		656,646
Mar		42,470			(42,213	)		257			1,639,949			0.2	%		30.9	%	Mar		134,865		14,064		(37,836	)		(550	)		(5	)		494,455		629,320

YTD 2012	$	113,801			($119,600	)		($5,799	)	$	1,639,949			(1.4	%)		29.1	%	YTD 2012	$	134,865	$	69,702		($86,440	)		($1,697	)	$	19		$	494,455	$	629,320



TABLE 6 - DELINQUENCIES - TOTAL ¹²													TABLE 7 - OTHER INVESTMENTS ¹⁴						TABLE 8 - INTEREST-RATE RISK SENSITIVITY DISCLOSURES ¹⁵

	Single-Family ¹³									Multifamily										Portfolio Market Value- Level (PMVS-L) (50bp) (dollars in millions)				Portfolio Market Value- Yield Curve (PMVS-YC) (25bp) (dollars in millions)						Duration Gap (Rounded to Nearest Month)

	Non-Credit Enhanced			Credit Enhanced			Total			Total						Ending Balance				Monthly Average		Quarterly Average		Monthly Average			Quarterly Average			Monthly Average			Quarterly Average

Mar 2011		2.85	%		7.87	%		3.63	%		0.36	%	Mar 2011			$	87,212		Mar 2011	$	401	$	448	$	15		$	21			0			0
Apr		2.82	%		7.76	%		3.57	%		0.40	%	Apr				64,304		Apr		386		—		27			—			0			—
May		2.78	%		7.70	%		3.53	%		0.38	%	May				62,234		May		397		—		28			—			0			—
Jun		2.75	%		7.67	%		3.50	%		0.31	%	Jun				56,684		Jun		469		419		22			25			0			0
Jul		2.77	%		7.70	%		3.51	%		0.35	%	Jul				57,301		Jul		429		—		27			—			0			—
Aug		2.75	%		7.66	%		3.49	%		0.35	%	Aug				55,685		Aug		335		—		19			—			0			—
Sep		2.77	%		7.70	%		3.51	%		0.33	%	Sep				49,638		Sep		152		304		17			21			0			0
Oct		2.80	%		7.77	%		3.54	%		0.31	%	Oct				54,158		Oct		259		—		12			—			0			—
Nov		2.82	%		7.82	%		3.57	%		0.28	%	Nov				56,633		Nov		233		—		30			—			0			—
Dec		2.84	%		8.03	%		3.58	%		0.22	%	Dec				67,785		Dec		302		266		12			18			0			0

													Full-Year 2011				67,785		Full-Year 2011		359		—		21			—			0			—

Jan 2012		2.84	%		8.23	%		3.59	%		0.21	%	Jan 2012				73,990		Jan 2012		236		—		22			—			0			—
Feb		2.84	%		8.20	%		3.57	%		0.21	%	Feb				77,489		Feb		201		—		8			—			0			—
Mar		2.80	%		8.02	%		3.51	%		0.23	%	Mar				59,738		Mar		233		223		17			16			0			0

													YTD 2012			$	59,738		YTD 2012	$	223		—	$	16			—			0			—

Please see Endnotes on page 3.

Page 2 of 3

ENDNOTES

(1)

The activity and balances set forth in these tables represent unpaid principal balances, and exclude interest-only loans, mortgage loans and mortgage-related securities traded, but not yet settled. For Freddie Mac mortgage-related securities, the balance reflects security balances based on the monthly PC factor report. Freddie Mac mortgage-related securities include PCs, REMICs and Other Structured Securities and Other Guarantee Transactions. Effective January 1, 2010, we adopted amendments to the accounting standards for transfers of financial assets and consolidation of VIEs, which resulted in significant changes to our financial statements. However, the information in this monthly volume summary is presented without giving effect to those changes.

(2)

Total mortgage portfolio (Table 1) is defined as Freddie Mac mortgage-related securities and other guarantee commitments (Table 4) plus the sum of mortgage loans (Table 3) and non-Freddie Mac mortgage-related securities (agency and non-agency) (Table 3).

(3)

Includes sales of non-Freddie Mac mortgage-related securities and multifamily mortgage loans from our mortgage-related investments portfolio.

(4)

Includes purchases of Freddie Mac mortgage-related securities into the mortgage-related investments portfolio that totaled $1,029 million (based on unpaid principal balance) during March 2012. Purchases include net additions for seriously delinquent and modified mortgage loans and balloon/reset mortgages purchased out of PC pools.

(5)

Mortgage purchase agreements reflect trades entered into during the month and include: (a) monthly commitments to purchase mortgage-related securities for our mortgage-related investments portfolio, and (b) the amount of monthly mortgage loan purchase agreements entered into during the month. Our purchase commitments may settle during the same month in which we have entered into the related commitment.

(6)

Mortgage sale agreements reflect trades entered into during the month and include: (a) monthly commitments to sell mortgage-related securities from our mortgage-related investments portfolio, and (b) the amount of monthly mortgage loan sale agreements entered into during the month. Our sales commitments may settle during the same month in which we have entered into the related commitment.

(7)

As of March 31, 2012, we had net unsettled purchase (sale) agreements of approximately ($404) million. The ending balance of our mortgage-related investments portfolio as of March 31, 2012 after giving effect to these unsettled agreements and assuming we did not enter into any other purchase (sale) agreements after March 31, 2012 would have been $617.9 billion.

(8)

Includes other guarantee commitments, which consist of tax-exempt multifamily housing revenue bonds, HFA bonds, and credit-related commitments with respect to single-family mortgage loans. Excludes any resecuritization activity. Notional balances of interest-only strips are excluded because this table is based on unpaid principal balance.

(9)

Represents principal repayments relating to loans underlying Freddie Mac mortgage-related securities and other guarantee commitments. Also includes our purchases of seriously delinquent and modified mortgage loans and balloon/reset mortgage loans out of PC pools.

(10)

The ending balance of Freddie Mac mortgage-related securities and other guarantee commitments (Table 4) differs from the balance of Freddie Mac mortgage-related securities in our annual report on Form 10-K dated March 9, 2012 because Table 4 includes other guarantee commitments described in Endnote 8.

(11)

Represents the combined balance and activity of our other debt, including securities sold under agreements to repurchase and federal funds purchased, based on the par values of these liabilities.

(12)

Single-family serious delinquency rate information is based on the number of loans that are three monthly payments or more past due or in the process of foreclosure as of period end while multifamily delinquencies are based on the UPB of mortgage loans that are two monthly payments or more past due or in the process of foreclosure as of period end. Mortgage loans whose contractual terms have been modified under an agreement with the borrower are not counted as delinquent if the borrower is current under the modified terms. Delinquency rates presented in Table 6 include mortgage loans underlying Other Guarantee Transactions, but exclude financial guarantees that are backed by either HFA bonds or Ginnie Mae Certificates. Since we include loans in the HAMP trial period as seriously delinquent in our statistical reporting, this results in a temporary rise in our seriously delinquent rate until the modifications become effective and are removed from seriously delinquent status. The volume of effective modifications impacts our reported seriously delinquent rate.

(13)

On a monthly basis, Freddie Mac publishes pool-level delinquency disclosures on its single-family PC and Giant PC securities on the company’s Web site, www.FreddieMac.com/mbs. These monthly disclosures include for each PC and Giant PC the loan count and associated aggregate UPB for mortgage loans that fall into one of four delinquency groups: 30-59 days delinquent, 60-89 days delinquent, 90-119 days delinquent, and 120 days or more delinquent. Additionally, the monthly disclosures include information about certain seriously delinquent loans purchased by Freddie Mac from each PC and Giant PC. Generally, we purchase these delinquent loans, and thereby extinguish the related PC debt, at the scheduled PC debt payment date, unless the loans proceed to foreclosure transfer, complete a foreclosure alternative or are paid in full by the borrower before such date. As of March 31, 2012, there were approximately $2.4 billion in UPB of loans that were four monthly payments past due, and that met our criteria to allow for the purchase of delinquent mortgage loans out of PC pools.

(14)

Other Investments exclude amounts related to consolidated variable-interest entities. The balance includes cash and cash equivalents, federal funds sold and securities purchased under agreements to resell, and non-mortgage-related securities. Investments in non-mortgage-related securities are presented at fair value.

(15)

Our primary interest-rate risk measures are PMVS and duration gap. These measures include the impact of our purchases and sales of derivative instruments, which we use to limit our exposure to changes in interest rates. Our PMVS measures are estimates of the amount of average potential pre-tax loss in the market value of our net assets due to parallel (PMVS-L) and non-parallel (PMVS-YC) movements in London Interbank Offered Rates (LIBOR). While we believe that our PMVS and duration gap metrics are useful risk management tools, they should be understood as estimates rather than precise measurements. Methodologies employed to calculate interest-rate risk sensitivity disclosures are periodically changed on a prospective basis to reflect improvements in the underlying estimation processes.




		A glossary of selected Monthly Volume Summary terms is available on the Investor Relations page of our website, www.FreddieMac.com/investors.
		The Monthly Volume Summary includes volume and statistical data pertaining to our portfolios. Inquiries should be addressed to our Investor Relations Department, which can be reached by calling(571) 382-4732 or writing to:
		1551 Park Run Drive, MS D5F
		McLean, VA22102-3110
		or sending an email to shareholder@freddiemac.com.

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Federal Home Loan Mortgage (FMCC) 8-KResults of Operations and Financial Condition