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March 21, 2024
Christian Lown
Executive Vice President and Chief Financial Officer
Federal Home Loan Mortgage Corporation
8200 Jones Branch Drive
McLean, VA 22102-3110
Re:Federal Home Loan Mortgage Corporation
Form 10-K for Fiscal Year Ended December 31, 2023
File No. 001-34139
Dear Christian Lown:
            We have conducted a limited review of your annual report and have the following
comment.
            Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe the
comment applies to your facts and circumstances, please tell us why in your response.
            After reviewing your response to this letter, we may have additional comments.
Form 10-K for Fiscal Year Ended December 31, 2023
Note 4. Mortgage Loans, page 155
1.We note your disclosure on page 165 that you elected to suspend TDR accounting for
eligible modifications under Section 4013 of the CARES Act during the period beginning
on March 1, 2020 and ending on January 1, 2022. Please provide us with the following:

•An analysis explaining, in detail, your accounting treatment and policies regarding
non-accrual loans and interest income recognition for eligible modifications under
Section 4013 of the CARES Act. Cite any authoritative accounting literature or
guidance considered and applied. In your response, explain how the interest rate was
determined for purposes of any interest income recognition for these loans and
discuss any differences in how the interest rate was calculated if it varied depending
on the types or length of the modification.

•Quantification of the amount of the eligible modifications and the associated interest
income recognized, and any interest income deferred, for loans not accounted for as
TDRs due to your election under Section 4013 of the CARES Act for each period

 FirstName LastNameChristian Lown
 Comapany NameFederal Home Loan Mortgage Corporation
 March 21, 2024 Page 2
 FirstName LastName
Christian Lown
Federal Home Loan Mortgage Corporation
March 21, 2024
Page 2
presented. To the extent there are different types of modifications, or material
differences in the terms of the modifications, please provide this information
separately for each material type of modification.
•An analysis explaining, in detail, your accounting treatment and policies for these
loans subsequent to the expiration of the relief provided by Section 4013 of the
CARES Act. As part of your response, please consider providing an illustrative
example of a loan that went through an eligible modification under Section 4013 of
the CARES Act, outlining the typical process for determining the interest rate for
recognizing interest income on the loan both during and after the expiration of the
relief.
            In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
            Please contact John Spitz at 202-551-3484 or Ben Phippen at 202-551-3697 with any
questions.
Sincerely,
Division of Corporation Finance
Office of Finance