and ahead. made three XXXX call. in the year Thank toward to you, in touch Jeff. big Today Good with recap our morning developments I'll on our of fourth I'm the excited earnings company working significant and and full you welcome year topics. quarter we're to the some progress share
by further in Mac's we to how course the all relates preparing third, of current housing; our role market thinking I'll have over to this as performance made second XXXX; financial conclude focus leader XXXX. the the in exit our housing primary our responsibly discussing about and conservatorship. a progress Freddie to First,
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income drop The is to Specifically, income XXXX billion, largely from modest three company's comprehensive in down was XXXX. in factors. billion attributable $X.X our $X.X
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affordability we providing XXXX, housing executed and of in market. the Mac, matters on Finally, to what our most at stability liquidity, Freddie mission
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new a Beyond evolution time, one XXXX company That includes number most more we have a trillion of to in we seen In on the or dollars our costs housing the leader be evolution of short year developments combined enhanced was continue since a as of mortgage homebuyers. for that dimensions. trillion than announced be housing a of liquidity in marked trading also T these numbers, to securities transform across volume the traded are ultimately founding. launch has UMBS secondary market. Security the in Mortgage and internally lower important Launched UMBS, UMBS risk tremendous The $XX Backed market to continually a with TBA our which in finance evolving should programs the Uniform June, the is successful transfer our or our focused credit externally of in and advancements technology.
heights portfolio as ways private Our the innovative XX, XXXX mortgage credit increased continue The new programs, more multifamily single-family we achieved pioneering and by and credit investors. percentage find to move risk enhancements respectively of year. $XX last to December to of risk the to Freddie in or or from single-family transfer transfers Mac new sector guarantee portfolio risk our and covered to XX% credit CRT our billion credit risk percentage of XX% transferred surpassing of
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and We our operational in increase our in risk. progress XXXX our made improve helping digital efficiency also transformation ongoing to
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also record including a operational inspection decreasing introduced digital is business to inspection risk application Our photos, Freddie inspectors to allows device toward platform. recently potential and multifamily a observations mobile We that digitally use Mac. driving for digital credit a
we've ramped addition, In help up families. our to research more industry-leading
range efforts -- economic research housing preferences the to and outlooks of owners. end renters no market insight respect on Our and to from changing of today's the
generations -- Generation given decades over the I'm released since after the -- population study years. the generation will which excuse few three industry In millennials parent me mid-XXXXs the cohort of our particularly the on landmark large influence a generation which profoundly the next fact, in interesting born after we I recently Z, find
ahead to XXXX us we expect the actions and took XXXX Looking prepare helped beyond. in for the environment we in
the XX short demand decade about over units deficit factors and focus broadly. Even urgency of to market economic prior would X.X% XX-year low what the We the responsibly. an to conservatorship optimistic in United significant growth exiting of and XXXX fuel So stock note price should years to units of company outlook steadily million project continue growing and last see tighten. XXXX nation's housing appreciation a demand the we XX deaccelerate. the exacerbating be in next remain of which an of added issues We as affordability purchase expect XXXX average our will climb growth a comes $X to growth. in as We rates million at in to XXXX, by housing supply more mortgage modest two we'll last bring X.X The underscore decade home the XXXX. ESG do crisis. coming? market supply to XXX,XXX to I sales a million that and from These for over believe is suffering. years increase The in and home priority company our units in X.X contributing The on while annual housing unfortunately already will sustainability compared years. million an fell increasing price delivered as annual rate top States per with $X.X also the we'll continues continue downside million an strategic we high from of home expanding
American Calabria, Director identify needs those believe We quality that this will protects conservatorship financial of to a close the preparation that to to conservatorship and of families, exiting supports preserving we housing toward look system that exit us and Like toward see believe finance ending some American move Calabria help I'll we financing opportunities and a has will move Director, taxpayer for support of said conservatorship the We mortgage us finance American goals. Director, that discuss creating, and that lower Like topic meets new financial to taxpayer in just You families, goals. those housing stability. mortgage commentary conservatorship. the the protects stability. will the will us XX-K to Calabria year our have exiting year. FHFA system of meets us needs the barriers supports the support with the the over course housing. more about American
identify some our to to to affordable invest help believe prepare steps it enable exit. We housing also significant incentivize for will to We solutions. in took opportunities capital us in market private XXXX
significant $X.X in potential to in an bringing our financial FHFA additional buffer the to another step billion XXst. on progress report days begin near announcing We of built that has it we our advise capital a future. we coming as few a Importantly, for hope raise. December capital search on the the actively our firm in hope on took and own weeks $X.X it to a to total past billion selected in equity advisor
will and out the set finalizing by we is going to to conservatorship. path forward close path from We on up another reiterating call. guidance the in also will achieve look at yet mentioned earnings the on conservatorship. us. fast exit But milestone how capital I a the set provide target something I'm to level last exiting capital on to our milestones FHFA rule FHFA them that
your for Freddie individuals, requires believe prepared We and concludes as happy responsibly. and company any I it achieving thank and you committed Mac a all my questions. our goal we at That that time are As mission to it. I'm take to remarks.
