Federal Home Loan Mortgage 10Q 2016 Q1 Quarterly report | FMCC Filing

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	8th grade Avg

New words: accretion, ActivityWe, advantage, amid, ANALYSISThe, Arizona, attached, BlackRock, budget, bulletin, chart, check, Citigroup, CLTV, coincided, context, correct, correction, curtain, damage, DERIVATIVESWe, duly, duty, earliest, electronically, error, essentially, excessive, Fairfax, filer, flexibility, immaterial, INCOMEThe, infrequent, Inside, inspect, inspection, INSURERSWe, Interactive, interagency, investigating, iron, jurisdiction, Layton, linked, Mackey, match, maximize, Multidistrict, Nevada, pace, Pagliara, pipeline, promote, proper, rally, reiterated, Restructuring, rollforward, rollover, SDQ, sequence, sharply, shell, slower, stop, thereunto, unconsolidated, undersigned, undistributed, urged, version, Vested, Washington, weaker, worldwide

Removed: AA, absent, absorb, absorbed, accept, accountable, accounted, acquiring, add, additive, adjusting, administrator, advance, advanced, Advisor, agent, aggregated, aggregation, agree, allocated, amortizing, analyzed, anniversary, annualized, appetite, arrive, aspect, assessed, assign, assigned, assigning, assumed, attempt, attracted, auction, audit, auditor, automated, await, back, backlog, balancing, balloon, BB, bear, bearing, Berkadia, bidder, borne, borrow, bps, broad, broker, Building, bulk, buy, calendar, caption, capture, carry, catastrophic, CBRE, CCO, cease, center, CERO, certainty, CFPB, CFTC, chaired, challenging, characteristic, clarity, closing, collaborate, collateralize, collateralizing, collect, commensurate, Commercial, commercially, commonly, community, comparable, competitive, complex, component, comprised, concession, conclude, confidence, confidentiality, conformance, conforming, consent, consideration, consumer, contact, contemporaneously, contingency, continually, Continuation, conveying, cover, creditor, customer, Cut, cyber, Dataset, dedicated, deeply, defaulting, defend, define, degradation, deliver, Deloitte, depending, deposit, derivate, derive, derived, detail, deteriorated, deterioration, determinable, develop, development, difficult, diligently, disaster, discounted, discover, Discovery, disposed, dispositive, disproportionately, disqualified, disqualify, disruption, distribution, diversification, documented, domestic, downgrade, Dunlop, earned, earning, efficient, efficiently, effort, elevated, eliminating, emerging, enabled, endnote, equally, erosion, establish, eviction, evidenced, evolve, evolving, exclude, exit, expand, expanded, expanding, experiencing, expiration, exposing, expressed, extended, extensive, fact, fail, failed, false, Fargo, fashion, Fenoglio, financed, financially, focused, foreseeable, forum, Fowler, fraudulent, fungible, general, Genworth, Ginnie, govern, governance, gradual, growing, HAMP, hardship, harm, hedging, HFA, history, Holliday, identify, identifying, imminent, implementation, importance, improving, inability, inadequate, incentive, inception, indemnify, INDEPENDENCE, independent, independently, inflation, influence, influenced, inform, inherently, initiate, initiating, innovation, innovative, insolvent, instruction, instrumentality, insufficient, interim, internally, intervened, intervention, intraday, introduction, inverse, inversely, issuing, Jersey, JP, JPMorgan, jumbo, landlord, landscape, launched, leadership, led, lender, lending, lesser, leveraged, leveraging, lien, likelihood, Likewise, limiting, liquidated, list, listing, LLP, local, located, location, long, lose, lost, lot, lowered, lump, Magnet, magnitude, main, maintenance, manufactured, marketed, meaningful, met, metropolitan, mezzanine, misleading, misrepresentation, moderate, modest, monitoring, mortgaged, movement, nationwide, nearest, negligent, negligently, neighborhood, network, nonparallel, nonperformance, Northern, noted, November, object, obligate, observability, observed, occupancy, occupied, Ohio, omitted, open, Optimizing, outpaced, overcollateralization, overdraw, overdrawn, overseeing, owner, ownership, parent, participated, partnering, passed, payer, payout, Payroll, penalty, people, percent, perform, periodically, physical, platform, pledge, pledging, political, poor, possession, posting, potentially, power, practicable, prejudice, premium, prepay, prepayable, prescribed, presence, presenting, pressure, pretax, problem, proceed, proceeded, processing, professional, profitable, project, prolonged, protect, proxy, published, pursue, pursuing, qualification, Radian, ranging, rapid, RCSA, reach, ready, realization, rebalancing, recognizing, recommendation, recourse, recovered, recovering, redesigned, reducing, redundant, referred, refine, reflecting, regional, regular, regulator, reimburse, remanded, remarketed, remedied, REMIC, remitted, remodified, rent, rental, repair, repaying, repeat, replace, reputational, requiring, resecuritizing, reset, residence, resilient, resolved, respond, responsibility, responsible, resume, retention, retirement, reversed, reviewing, revision, revoke, RMIC, root, rose, Rounded, run, scarce, scenario, sector, securitizing, segregate, select, selection, Senate, separately, serving, setting, settled, shock, SIGNFICANT, Similarly, simple, slope, solid, solution, sophistication, sound, sourced, specifically, stabilization, standardization, standardizing, standby, standing, stay, step, strategic, stratified, streamline, stronger, structured, struggling, subjective, substitute, substituted, succeed, successful, successfully, sum, supplied, supported, survive, suspend, Syron, taxpayer, TBA, TCLFP, technology, temporary, tenant, tendered, terminate, testing, thousand, threat, threshold, tight, timeline, Topic, Touche, track, transactional, trust, unallocated, unamortized, unauthorized, undergone, underlie, underperforming, understanding, undertaken, unencumbered, unexpected, unexpectedly, uniform, unit, unremediated, unscheduled, unsold, upward, utilized, utilizing, vacant, valid, variation, varied, viable, voluntary, Walker, warranted, weak, weekly, withdrawal, withdrawn, work, world, write, writing



	Three Months Ended March 31,					Year Ended December 31,
	2016			2015		2015		2014		2013		2012		2011
	(dollars in millions)
Net income (loss) before income tax (expense) benefit and cumulative effect of changes in accounting principles	$	(508	)	$	788	$	9,274	$	11,002	$	25,363	$	9,445	$	(5,666	)
Add:
Total interest expense	13,388			13,088		51,916		54,916		55,779		66,502		79,988
Interest factor in rental expenses	1			1		2		5		4		4		4
Earnings (loss), as adjusted	$	12,881		$	13,877	$	61,192	$	65,923	$	81,146	$	75,951	$	74,326
Fixed charges:
Total interest expense	$	13,388		$	13,088	$	51,916	$	54,916	$	55,779	$	66,502	$	79,988
Interest factor in rental expenses	1			1		2		5		4		4		4
Total fixed charges	$	13,389		$	13,089	$	51,918	$	54,921	$	55,783	$	66,506	$	79,992
Senior preferred stock and preferred stock dividends⁽¹⁾	1,740			851		5,510		19,610		47,591		7,229		6,498
Total fixed charges including preferred stock dividends	$	15,129		$	13,940	$	57,428	$	74,531	$	103,374	$	73,735	$	86,490
Ratio of earnings to fixed charges⁽²⁾	—			1.06		1.18		1.20		1.45		1.14		—
Ratio of earnings to combined fixed charges and preferred stock dividends⁽³⁾	—			—		1.07		—		—		1.03		—


(1)	Senior preferred stock and preferred stock dividends represent pre-tax earnings required to cover any senior preferred stock and preferred stock dividend requirements computed using our effective tax rate, whenever there is an income tax provision, for the relevant periods.


(2)	Ratio of earnings to fixed charges is computed by dividing earnings (loss), as adjusted by total fixed charges. For the ratio to equal 1.00, earnings (loss), as adjusted must increase by $508 million and $5.7 billion for the three months ended March 31,2016 and for the year ended December 31, 2011, respectively.

Federal Home Loan Mortgage (FMCC) 10-Q2016 Q1 Quarterly report

Content analysis