Freddie Mac Monthly Volume Summary: June 2005

MCLEAN, Va., July 25 /PRNewswire-FirstCall/ -- The following is being issued by Freddie Mac :

June 2005 Highlights: * Total mortgage portfolio grew at an annualized rate of 9.9% year-to- date and 8.8% in June. * Retained portfolio increased at an annualized rate of 3.7% year-to- date and decreased at an annualized rate of 5.6% in June. * Retained portfolio purchases decreased to $23.0 billion in June, from $28.3 billion in May. * Retained portfolio mortgage purchase agreements, net were $15.9 billion in June, up from $15.8 billion in May. * Total PCs and Structured Securities Issued increased at an annualized rate of 6.9% year-to-date and 3.9% in June. * Structured securitizations were $13.1 billion in June, down from $15.8 billion in May. * Single-family non-credit enhanced delinquency rate was 21 basis points in May, down from 22 basis points in the prior month. * Portfolio market value sensitivity (PMVS-L) averaged 1% in June, unchanged from May; our duration gap averaged 0 months in June, unchanged from May.

A glossary of selected Monthly Volume Summary terms is available on the Investor Relations page of our website, http://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, Mail stop D40, McLean, VA 22102-3110; or sending an email to shareholder@freddiemac.com. TABLE 1 - TOTAL MORTGAGE PORTFOLIO (1, 2) Non-Freddie Mac Mortgage- Related Security New Business Sales and Net Increase/ Purchases(3) Other Activity Liquidations (Decrease) Full Year 2004 $494,588 ($2,752) ($401,029) $90,807 Jan 2005 $35,888 ($59) ($25,981) $9,848 Feb 36,600 (1,742) (25,940) 8,918 Mar 39,077 (223) (32,789) 6,065 Apr 48,541 (24) (30,199) 18,318 May 50,025 (55) (30,403) 19,567 Jun 47,954 (1,212) (35,235) 11,507 YTD 2005 $258,085 ($3,315) ($180,547) $74,223 Annualized Annualized Ending Balance Growth Rate Liquidation Rate Full Year 2004 $1,505,206 6.4% 28.4% Jan 2005 $1,515,054 7.9% 20.7% Feb 1,523,972 7.1% 20.5% Mar 1,530,037 4.8% 25.8% Apr 1,548,355 14.4% 23.7% May 1,567,922 15.2% 23.6% Jun 1,579,429 8.8% 27.0% YTD 2005 $1,579,429 9.9% 24.0% TABLE 2 - RETAINED PORTFOLIO (1) Sales, net Retained of Other Net Increase/ Purchases Activity(4) Liquidations (Decrease) Full Year 2004 $225,715 ($36,515) ($181,730) $7,470 Jan 2005 $14,488 ($7,042) ($13,457) ($6,011) Feb 22,441 (2,730) (12,454) 7,257 Mar 20,755 (4,095) (14,122) 2,538 Apr 24,516 (4,077) (15,096) 5,343 May 28,316 (7,538) (14,704) 6,074 Jun 22,996 (10,030) (16,100) (3,134) YTD 2005 $133,512 ($35,512) ($85,933) $12,067 Mortgage Annualized Purchase Ending Annualized Liquidation Agreements, Balance Growth Rate Rate net(5) Full Year 2004 $652,936 1.2% 28.2% N/A Jan 2005 $646,925 (11.0%) 24.7% $11,988 Feb 654,182 13.5% 23.1% 13,291 Mar 656,720 4.7% 25.9% 31,998 Apr 662,063 9.8% 27.6% 20,260 May 668,137 11.0% 26.7% 15,768 Jun 665,003 (5.6%) 28.9% 15,922 YTD 2005 $665,003 3.7% 26.3% $109,227 TABLE 3 - TOTAL PCs and Structured Securities Issued (1, 6, 7) Net Increase/ Ending Annualized Issuances Liquidations(8) (Decrease) Balance Growth Rate Full Year 2004 $365,108 ($318,208) $46,900 $1,208,968 4.0% Jan 2005 $26,135 ($17,850) $8,285 $1,217,253 8.2% Feb 25,081 (19,069) 6,012 1,223,265 5.9% Mar 25,912 (25,470) 442 1,223,707 0.4% Apr 32,043 (21,059) 10,984 1,234,691 10.8% May 33,654 (21,693) 11,961 1,246,652 11.6% Jun 29,917 (25,910) 4,007 1,250,659 3.9% YTD 2005 $172,742 ($131,051) $41,691 $1,250,659(9) 6.9% TABLE 4 - RETAINED PORTFOLIO COMPONENTS (1) Non-Freddie Mac Mortgage- Retained Related Securities Portfolio Freddie Mac Mortgage Ending PCs Agency Non-Agency Loans Balance Full Year 2004 $356,698 $59,715 $175,163 $61,360 $652,936 Jan 2005 $349,124 $58,525 $177,493 $61,783 $646,925 Feb 353,475 57,644 181,664 61,399 654,182 Mar 350,390 56,381 188,213 61,736 656,720 Apr 348,399 55,338 197,229 61,097 662,063 May 346,867 54,126 206,265 60,879 668,137 Jun 336,233 54,464 213,320 60,986 665,003 YTD 2005 $336,233 $54,464 $213,320 $60,986 $665,003 TABLE 5 - Multi-Class Structured Securitization Activity (10) Structured Securitizations Activity Full Year 2004 $215,430 Jan 2005 $16,171 Feb 22,993 Mar 16,816 Apr 14,643 May 15,829 Jun 13,056 YTD 2005 $99,508 TABLE 6 - OUTSTANDING PCs (1, 11) PC Purchases PC Sales PC Into Retained From Retained Issuances Portfolio Portfolio Liquidations(12) Full Year 2004 $365,108 ($96,235) $38,601 ($224,137) Jan 2005 $26,135 ($4,735) $7,390 ($12,931) Feb 25,081 (10,921) 1,401 (13,900) Mar 25,912 (7,590) 4,281 (19,076) Apr 32,043 (8,018) 4,324 (15,374) May 33,654 (11,945) 7,766 (15,982) Jun 29,917 (4,959) 9,141 (19,458) YTD 2005 $172,742 ($48,168) $34,303 ($96,721) Net Annualized Annualized Increase/ Ending Growth Rate on Liquidation (Decrease) Balance Total PCs, net Rate Full Year 2004 $83,337 $852,270 10.8% 29.1% Jan 2005 $15,859 $868,129 22.3% 18.2% Feb 1,661 869,790 2.3% 19.2% Mar 3,527 873,317 4.9% 26.3% Apr 12,975 886,292 17.8% 21.1% May 13,493 899,785 18.3% 21.6% Jun 14,641 914,426 19.5% 26.0% YTD 2005 $62,156 $914,426 14.6% 22.7% TABLE 7 - DELINQUENCIES (13) Single-Family (90 days or more delinquent) Multifamily (60 days or Non Credit Credit more Enhanced Enhanced All Loans delinquent) Dec 2004 0.24% 2.75% 0.73% 0.06% Jan 2005 0.24% 2.71% 0.72% 0.09% Feb 0.24% 2.70% 0.72% 0.09% Mar 0.22% 2.56% 0.67% 0.05% Apr 0.22% 2.42% 0.63% 0.05% May 0.21% 2.38% 0.62% 0.05% TABLE 8 - INTEREST-RATE RISK SENSITIVITY DISCLOSURES (14, 15) Portfolio Market Portfolio Market Value Level Value Yield Curve Duration Gap (PMVS-L) (50bp)(16) (PMVS-YC)(25 bp)(16) (in months)(17) Monthly Quarterly Monthly Quarterly Monthly Quarterly Average Average Average Average Average Average Full Year 2004 2% -- 0% -- 0 -- Jan 2005 2% -- 0% -- 0 -- Feb 1% -- 0% -- 0 -- Mar 1% 1% 0% 0% 0 0 Apr 1% -- 0% -- 0 -- May 1% -- 0% -- 0 -- Jun 1% 1% 0% 0% 0 0 YTD 2005 1% -- 0% -- 0 -- ENDNOTES (1) Ending balances and activity are based on unpaid principal balances and exclude mortgage loans and mortgage-related securities traded, but not yet settled. (2) Total mortgage portfolio (Table 1) is defined as Total PCs issued (Table 3) plus the sum of mortgage loans (within Table 4) and non- Freddie Mac mortgage-related securities (Agency and Non-Agency) (within Table 4). (3) Total mortgage portfolio New Business Purchases (Table 1) is defined as Retained Portfolio Purchases (Table 2) plus PC Issuances (Table 3) less PC Purchases Into Retained Portfolio (Table 6). (4) Includes a reduction in the Retained portfolio for mortgage-related securities that have been sold and credit-related impairments net of additions to the Retained portfolio for delinquent mortgage loans and balloon reset mortgage loans that have been purchased out of PC pools. (5) Mortgage Purchase Agreements, net includes: (a) monthly purchase commitments of mortgage-related securities for the Retained portfolio offset by monthly sales commitments of mortgage-related securities out of the Retained portfolio, (b) mortgage-related securities that we expect to purchase pursuant to options written by us and held by certain counterparties, and (c) the net amount of monthly mortgage loan purchases and sales. In some instances, commitments may settle during the same period in which we have entered into the related commitment. Substantially all of these commitments are settled by delivery of a mortgage-related security; the rest are net settled for cash. For all periods presented, we have purchased all of the mortgage-related securities associated with written options in accordance with their contractual terms. (6) Represents (a) PCs, (b) Structured Securities backed by non-Freddie Mac mortgage-related securities and (c) other credit guarantees (as described in Endnote 9 below). (7) Total PCs issued and Structured Securities exclude Structured Securities where we have resecuritized PCs and other previously issued Structured Securities. These excluded Structured Securities do not increase our credit-related exposure and consist of single- class Structured Securities backed by PCs, Real Estate Mortgage Investment Conduits (REMICs) and principal-only strips. The notional balance of interest-only strips is excluded because this table is based on unpaid principal balance. Also excluded are modifiable and combinable REMIC tranches and Interest and Principal classes, where the holder has the option to exchange the security tranches for other pre-defined security tranches. Additional information concerning "Credit Guarantee Activities - Guarantees Issued Through Resecuritization" can be found in our Information Statement dated June 14, 2005. (8) Represents liquidations of all PCs and Structured Securities backed by non-Freddie Mac mortgage-related securities and other credit guarantees of mortgage loans held by third parties. Includes prepayment activity and delinquent mortgage loans and balloon reset mortgage loans purchased out of PC pools. (9) Includes, as of June 30, 2005, (a) $6 billion that pertain to our guarantee of the payment of principal and interest on (1) multifamily mortgage loans that are originated and held by state and municipal housing finance agencies to support tax-exempt multifamily housing revenue bonds, (2) tax-exempt multifamily housing revenue bonds that support pass-through certificates issued by third parties, and (3) Freddie Mac pass-through certificates which are backed by tax-exempt multifamily housing revenue bonds and related taxable bonds and/or loans; and (b) $2 billion of single-family mortgage loans held by third parties for which we provide a credit guarantee. (10) Includes activity where we have resecuritized PCs and other previously issued Structured Securities related to multi-class Structured Securities, primarily REMICs as well as principal-only stripped securities and other Structured Securities backed by non- Freddie Mac mortgage-related securities. These amounts exclude resecuritizations of PCs into single-class securities. (11) Represents (a) PCs, (b) Structured Securities backed by non-Freddie Mac mortgage-related securities and (c) other credit guarantees (as described in Endnote 9 above) held by third parties. (12) Liquidations include prepayment activity and delinquent mortgage loans and balloon reset mortgage loans purchased out of PC pools and exclude liquidations on PCs and Structured Securities backed by non- Freddie Mac mortgage-related securities held in the Retained portfolio. (13) Includes delinquencies on mortgage loans where we have transferred primary or full default risk to various third parties, as well as Structured Securities backed by alternative collateral deals. Previously reported delinquency data is subject to change to reflect currently available information. For example, delinquency data reported for some Structured Securities may be omitted or subsequently revised by servicers of the underlying loans, which may require revision to previously reported numbers. For periods presented in this report, revisions to previously reported delinquency rates have not been significant nor have they significantly affected the overall trend of our Single-Family "Credit Enhanced" and "All Loans" delinquency rates. Delinquencies on mortgage loans underlying alternative collateral deals may be categorized as delinquent on a different schedule than other mortgage loans due to variances in industry practice. (14) Our PMVS and Duration Gap measures provide useful estimates of key interest-rate risk exposures. While we believe that PMVS and Duration Gap 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 underlying estimation processes. (15) We do not expect previously reported PMVS to change by more than 2 percentage points and previously reported duration gap to change by more than 1 month and will report any changes to previously reported amounts that exceed these levels. (16) Rounded to the nearest percent. (17) Rounded to the nearest month.