Offering Circular Supplement $601,064,890 Freddie Mac · Offering Circular Supplement (To Offering...
Transcript of Offering Circular Supplement $601,064,890 Freddie Mac · Offering Circular Supplement (To Offering...
Offering Circular Supplement(To Offering CircularDated June 1, 2010)
$601,064,890
Freddie MacMulticlass Certificates, Series 4318
Offered Classes: REMIC Classes shown below and MACR Classes shown on Appendix A
Offering Terms: The underwriter named below is offering the Classes in negotiated transactions at varying prices; it isexpected that we will purchase certain of the Group 3, 4 and 11 Classes
Closing Date: March 28, 2014
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
Group 1KA . . . . . . . . . . . . . . . $ 2,000,000 SC/PT 3.0% FIX 3137B9 C 7 8 January 15, 2044KD . . . . . . . . . . . . . . . 8,626,228 SC/PT 3.0 FIX 3137B9CA1 January 15, 2044KF . . . . . . . . . . . . . . . 7,084,152 SC/PT (2) FLT/DLY 3137B9CB9 January 15, 2044KS . . . . . . . . . . . . . . . 7,084,152 SC/NTL(PT) (2) INV/IO/DLY 3137B9CD5 January 15, 2044
Group 2VA . . . . . . . . . . . . . . . 11,489,000 SC/SEQ 2.5 FIX 3137B9 E 2 7 August 15, 2038VB . . . . . . . . . . . . . . . 7,490,633 SC/SEQ 2.5 FIX 3137B9 E 3 5 August 15, 2038
Group 3
CB . . . . . . . . . . . . . . . 47,563,819 PT 1.75 FIX 3137B9BG9 March 15, 2022CI . . . . . . . . . . . . . . . 26,754,648 NTL(PT) 4.0 FIX/IO 3137B9BH7 March 15, 2022
Group 4DB . . . . . . . . . . . . . . . 63,121,456 PT 1.75 FIX 3137B9 B J 3 August 15, 2022DI . . . . . . . . . . . . . . . 18,936,436 NTL(PT) 2.5 FIX/IO 3137B9BK0 August 15, 2022
Group 5KV . . . . . . . . . . . . . . . 10,927,000 SC/AD/SEQ 4.0 FIX 3137B9CE3 February 15, 2027KZ . . . . . . . . . . . . . . . 16,263,235 SC/SEQ 4.0 FIX/Z 3137B9CG8 December 15, 2040VK . . . . . . . . . . . . . . . 7,345,000 SC/SEQ 4.0 FIX 3137B9 E 4 3 February 15, 2033
Group 6GB . . . . . . . . . . . . . . . 123,604,526 PT 1.75 FIX 3137B9BM6 January 15, 2023GI . . . . . . . . . . . . . . . 37,081,357 NTL(PT) 2.5 FIX/IO 3137B9BT1 January 15, 2023
Group 7MJ . . . . . . . . . . . . . . . 39,727,000 NTL(SEQ) (2) INV/IO/S/DLY 3137B9D51 September 15, 2039MK . . . . . . . . . . . . . . . 39,727,000 NTL(SEQ) (2) FLT/IO/S/DLY 3137B9D69 September 15, 2039MO . . . . . . . . . . . . . . . 39,727,000 SEQ 0.0 PO 3137B9D77 September 15, 2039
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
MV . . . . . . . . . . . . $ 5,179,535 AD/SEQ 3.0% FIX 3137B9 D 8 5 August 15, 2028MZ . . . . . . . . . . . . 9,619,136 SEQ 3.0 FIX/Z 3137B9DA0 March 15, 2044
Group 8FK . . . . . . . . . . . . 48,577,845 PT (2) FLT/W/DLY 3137B9 B L 8 August 15, 2038SK . . . . . . . . . . . . 48,577,845 NTL(PT) (2) INV/W/IO/DLY 3137B9DZ5 August 15, 2038
Group 9AA . . . . . . . . . . . . 4,000,000 SC/PT/SUP/RTL 4.0 FIX 3137B9 B 6 1 January 15, 2043NI . . . . . . . . . . . . 9,382,125 SC/NTL(PT/SUP) 2.5 FIX/IO 3137B9 D J 1 January 15, 2043NO . . . . . . . . . . . . 11,782,125 SC/PT/SUP 0.0 PO 3137B9 D P 7 January 15, 2043
Group 10GF . . . . . . . . . . . . 36,368,204 PT (2) FLT/W/DLY 3137B9BR5 July 15, 2041GS . . . . . . . . . . . . 36,368,204 NTL(PT) (2) INV/W/IO/DLY 3137B9BW4 July 15, 2041
Group 11JK . . . . . . . . . . . . 83,686,130 NTL(SEQ) (2) FLT/IO/S/DLY 3137B9 C 3 7 November 15, 2032JM . . . . . . . . . . . . 83,686,130 NTL(SEQ) (2) INV/IO/S/DLY 3137B9 C 4 5 November 15, 2032JO . . . . . . . . . . . . 83,686,130 SEQ 0.0 PO 3137B9 C 5 2 November 15, 2032JY . . . . . . . . . . . . 10,287,682 SEQ 3.0 FIX 3137B9 C 6 0 March 15, 2034
Group 12KB . . . . . . . . . . . . 10,251,000 SEQ 2.5 FIX 3137B9 C 8 6 April 15, 2032KC . . . . . . . . . . . . 1,964,359 SEQ 3.5 FIX 3137B9 C 9 4 March 15, 2034KI . . . . . . . . . . . . 2,928,857 NTL(SEQ) 3.5 FIX/IO 3137B9CC7 April 15, 2032
Group 13LK . . . . . . . . . . . . 30,000,000 SC/SEQ 3.5 FIX 3137B9 C S 2 June 15, 2038LM . . . . . . . . . . . . 4,106,825 SC/SEQ 3.5 FIX 3137B9 C T 0 June 15, 2038
ResidualR . . . . . . . . . . . . 0 NPR 0.0 NPR 3137B9DW2 March 15, 2044RS . . . . . . . . . . . . 0 NPR 0.0 NPR 3137B9DY8 March 15, 2044
(1) See Appendix II to the Offering Circular.(2) See Terms Sheet — Interest.
The Certificates may not be suitable investments for you. You should not purchase Certificates unless you havecarefully considered and are able to bear the associated prepayment, interest rate, yield and market risks of investing inthem. Certain Risk Considerations on page S-2 highlights some of these risks.
You should purchase Certificates only if you have read and understood this Supplement, the attached Offering Circularand the documents identified under Available Information.
We guarantee principal and interest payments on the Certificates. These payments are not guaranteed by, and are notdebts or obligations of, the United States or any federal agency or instrumentality other than Freddie Mac. TheCertificates are not tax-exempt. Because of applicable securities law exemptions, we have not registered theCertificates with any federal or state securities commission. No securities commission has reviewed this Supplement.
Citigroup
February 25, 2014
CERTAIN RISK CONSIDERATIONSAlthough we guarantee the payments on the Certificates, and so bear the associated credit risk, as an investor you will
bear the other risks of owning mortgage securities. This section highlights some of these risks. You should also read RiskFactors and Prepayment, Yield and Suitability Considerations in the Offering Circular for further discussions of theserisks.
The Certificates May Not be Suitable Investments for You. The Certificates are complex securities. You shouldnot purchase Certificates unless you are able to understand and bear the associated prepayment, interest rate, yield andmarket risks.
In particular, the Interest Only, Principal Only, Inverse Floating Rate, Weighted Average Coupon, Accrual, Retail andResidual Classes have special risks and are not suitable for all investors.
Prepayments Can Reduce Your Yield. The yield on your Certificates could be lower than you expect if:
• You buy your Certificates at a premium over their principal amount and principal payments are faster thanyou expect.
• You buy your Certificates at a discount to their principal amount and principal payments are slower than youexpect. This is especially true for a Principal Only Class.
If you buy an Interest Only Class or any other Class at a significant premium and prepayments are fast, you may not evenrecover your investment.
Rapid prepayments on the related Mortgages, especially those with relatively high interest rates, could reduce theyields on the Weighted Average Coupon Classes.
LIBOR Levels Can Reduce Your Yield if You Own a Floating Rate or Inverse Floating Rate Class. The yield onyour Certificates could be lower than you expect if:
• You buy a Floating Rate Class and LIBOR levels are lower than you expect.
• You buy an Inverse Floating Rate Class and LIBOR levels are higher than you expect.
If you buy an Inverse Floating Rate Class, you may not even recover your investment if LIBOR levels are high orprepayments are fast. If you buy an Interest Only Floating Rate Class, you may not even recover your investment if LIBORlevels are low or prepayments are fast.
The Weighted Average Interest Rates of the Related Assets Can Reduce Your Yield if You Own a WeightedAverage Coupon Class. The yield on a Weighted Average Coupon Class could be lower than you expect if the weightedaverage interest rate of the related Assets is lower than you expect.
The Retail Class Has Special Payment Rules. If you invest in the Retail Class, you will receive principal paymentsin $1,000 increments called “Retail Class Units,” subject to the priorities and limitations described in Appendix IV to theOffering Circular. The weighted average lives and yields of individual Retail Class Units will vary among differentinvestors.
The Group 1, 9 and 13 Assets are Backed By Super-Conforming Mortgages. Super-Conforming Mortgages maytend to prepay differently than standard conforming Mortgages because of a number of factors, including their largerrelative principal balance (and larger resulting savings in the case of refinancing in a low interest rate environment), thepresence of Freddie Mac and Fannie Mae in the secondary market for such Mortgages (which may tend to reduce theprevailing interest rates offered by lenders for extending such Mortgages and to increase funds available for suchMortgages) and the possible geographic concentration of such Mortgages. See Prepayment and Yield Analysis — General.
The Group 8 and Group 10 Assets are Backed in Part by Initial Interest Mortgages. Principal payment andprepayment rates on Initial Interest Mortgages are likely to differ from principal payment and prepayment rates onotherwise similar continuously amortizing Mortgages. However, the interest only periods relating to some of the InitialInterest Mortgages backing these Assets have expired. See Prepayment and Yield Analysis — General.
Some of the Group 8 Assets are Backed by Prepayment Penalty Mortgages. Prepayment Penalty Mortgagesrequire a borrower to pay a prepayment premium under certain circumstances if the borrower prepays the Mortgage duringa specified period from origination. A prepayment premium may or may not discourage a borrower from prepaying theMortgage during the applicable period. However, the premium payment time periods relating to the Prepayment PenaltyMortgages have expired.
The Certificates are Subject to Market Risks. You will bear all of the market risks of your investment. The marketvalue of your Certificates will vary over time, primarily in response to changes in prevailing interest rates. If you sell yourCertificates when their market value is low, you may experience significant losses. The underwriter named on the frontcover (the “Underwriter”) intends to make a market for the purchase and sale of the Certificates after they are issued, buthas no obligation to do so. A secondary market may not develop. Even if one does develop, it may not be liquid enough toallow you to sell your Certificates easily or at your desired price.
Our Multiclass Certificates Offering Circular dated June 1, 2010 (the “Offering Circular”), attached to thisSupplement, defines many of the terms we use in this Supplement.
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TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to theremainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, “R” refersto the R Class of this Series.
Payment Dates
We make payments of principal and interest on the Certificates on each monthly Payment Datebeginning in May 2014 for the Weighted Average Coupon Classes and April 2014 for the otherClasses.
Form of Classes
Regular (non-Retail) and MACR Classes: Book-entry on Fed System
Retail Class: Book-entry on DTC System; issued and paid in $1,000 Retail Class Units
Residual Classes: Certificated
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover andAppendix A.
The following Classes are Principal Only Classes and do not bear interest:Group Class
7 MO9 NO
11 JO
The following Floating Rate and Inverse Floating Rate Classes bear interest as shown in thefollowing table. The initial Class Coupons apply only to the first Accrual Period. We determineLIBOR using the ICE Method, as described under Payments — Interest — Floating Rate, InverseFloating Rate and Weighted Average Coupon Classes.
ClassInitial Class
Coupon Class Coupon FormulaClass Coupon Subject to
Minimum Rate Maximum Rate
Group 1KF* . . . . . . . . . . . . . . . . . . 1.17% LIBOR + 1.0% 1.0% 5.5%KS* . . . . . . . . . . . . . . . . . . 4.33 4.5% � LIBOR 0 4.5Group 7MJ* . . . . . . . . . . . . . . . . . . 3.0 132.0% � (LIBOR × 16.0) 0 3.0MK* . . . . . . . . . . . . . . . . . . 0 (LIBOR × 16.0) � 129.0% 0 3.0Group 11JK* . . . . . . . . . . . . . . . . . . . 0 (LIBOR × 16.0) � 129.0% 0 3.0JM* . . . . . . . . . . . . . . . . . . 3.0 132.0% � (LIBOR × 16.0) 0 3.0
* Delay Class.
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The Weighted Average Coupon Classes bear interest as shown in the following table. The initialClass Coupons apply only to the first Accrual Period. The Class Coupon for a Weighted AverageCoupon Class will vary from month to month, as the related Mortgages reduce at different rates, as theweighted average interest rate of the related Assets varies and as the level of LIBOR varies. As used inthe table, “Group 8 WAC” means the weighted average interest rate of the Group 8 Assets for therelated Payment Date, “Group 10 WAC” means the weighted average interest rate of the Group 10Assets for the related Payment Date and “LIBOR” means one-month LIBOR. We determine LIBORusing the ICE Method, as described under Payments — Interest — Floating Rate, Inverse FloatingRate and Weighted Average Coupon Classes.
ClassInitial Class
Coupon Class Coupon FormulaMinimum
Class Coupon
Group 8FK* . . . . . . . . 0.51% The lesser of (a) Group 8 WAC and (b) LIBOR + 0.35% 0.35%SK* . . . . . . . . 1.92598691 Group 8 WAC – (LIBOR + 0.35%) 0Group 10GF* . . . . . . . . 0.51 The lesser of (a) Group 10 WAC and (b) LIBOR + 0.35% 0.35GS* . . . . . . . . 1.96549841 Group 10 WAC – (LIBOR + 0.35%) 0
* Delay Class.
See Appendix V to the Offering Circular and Payments — Interest.
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Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1KS $ 7,084,152 KF (SC/PT)
Group 3CI $26,754,648 CB (PT)
Group 4DI $18,936,436 DB (PT)
Group 6GI $37,081,357 GB (PT)
Group 7MJ $39,727,000 MO (SEQ)MK 39,727,000 MO (SEQ)
Group 8SK $48,577,845 FK (PT)
Group 9NI $ 9,382,125 NO (SC/PT/SUP)
Group 10GS $36,368,204 GF (PT)
Group 11JK $83,686,130 JO (SEQ)JM 83,686,130 JO (SEQ)
Group 12KI $ 2,928,857 KB (SEQ)
Group 13BI* $ 2,346,757 LM (SC/SEQ)IL* 19,489,614 LK and LM, as a whole (SC/PT)LI* 17,142,857 LK (SC/SEQ)
* MACR Class.
See Payments — Interest — Notional Classes.
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
SC/Pass-Through ⎧⎨⎩• The Group 1 Asset Principal Amount to KA, KD and KF, pro rata, until retired
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Group 2
SC/SequentialPay ⎧⎨⎩• The Group 2 Asset Principal Amount to VA and VB, in that order, until retired
Group 3
Pass-Through ⎧⎨⎩• The Group 3 Asset Principal Amount to CB, until retired
Group 4
Pass-Through ⎧⎨⎩• The Group 4 Asset Principal Amount to DB, until retired
Group 5
SC/SequentialPay
⎧⎨⎩• The KZ Accrual Amount and the Group 5 Asset Principal Amount to KV, VK and KZ,
in that order, until retired
Group 6
Pass-Through ⎧⎨⎩• The Group 6 Asset Principal Amount to GB, until retired
Group 7
AccretionDirectedand Accrual ⎧⎨⎩• The MZ Accrual Amount to MV, until retired, and then to MZ
SequentialPay ⎧⎨⎩• The Group 7 Asset Principal Amount to MO, MV and MZ, in that order, until retired
Group 8
Pass-Through ⎧⎨⎩• The Group 8 Asset Principal Amount to FK, until retired
Group 9
SC/Pass-Through/Support ⎧⎨⎩• The Group 9 Asset Principal Amount to AA and NO, pro rata, until retired
Group 10
Pass-Through ⎧⎨⎩• The Group 10 Asset Principal Amount to GF, until retired
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Group 11
SequentialPay ⎧⎨⎩• The Group 11 Asset Principal Amount to JO and JY, in that order, until retired
Group 12
SequentialPay ⎧⎨⎩• The Group 12 Asset Principal Amount to KB and KC, in that order, until retired
Group 13
SC/SequentialPay ⎧⎨⎩• The Group 13 Asset Principal Amount to LK and LM, in that order, until retired
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principalpayments, we allocate such payments from the applicable REMIC Certificates to those MACRCertificates, as described under MACR Certificates in the Offering Circular.
Retail Class
AA is a Retail Class. If you own the Retail Class, you will receive principal payments in $1,000Retail Class Units, as described in Appendix IV to the Offering Circular.
See Prepayment and Yield Analysis — Prepayment and Weighted Average Life Considerations —Retail Class.
REMIC Status
We will form an Upper-Tier REMIC Pool and a Lower-Tier REMIC Pool for this Series. We willelect to treat each REMIC Pool as a REMIC under the Code. R and RS will be “Residual Classes”and the other Classes shown on the front cover will be “Regular Classes.” The Residual Classes willbe subject to transfer restrictions. See Certain Federal Income Tax Consequences in this Supplementand the Offering Circular.
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Weighted Average Lives (in years)(1)
Group 1PSA Prepayment Assumption
0% 100% 200% 300% 400%
KA, KD, KF, KS and Group 1 Assets . . . . . . . . . . . . . 21.8 12.3 2.7 2.5 1.9
Group 2PSA Prepayment Assumption
0% 50% 110% 250% 400%
VA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.0 6.0 6.0 4.8 3.6VB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.5 14.4 11.9 6.9 4.7Group 2 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.4 9.3 8.3 5.6 4.0
Group 3PSA Prepayment Assumption
0% 100% 289% 450% 600%
CB, CI and Group 3 Assets . . . . . . . . . . . . . . . . . . . . . 3.0 2.7 2.1 1.8 1.5
Group 4PSA Prepayment Assumption
0% 100% 289% 450% 600%
DB, DI and Group 4 Assets . . . . . . . . . . . . . . . . . . . . . 4.0 3.4 2.6 2.1 1.7
Group 5PSA Prepayment Assumption
0% 100% 188% 300% 400%
KV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.0 7.0 6.8 5.6 4.6KZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.3 20.6 16.7 12.6 10.0VK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.0 15.2 11.5 8.2 6.4Group 5 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.3 20.1 15.4 11.0 8.5
Group 6PSA Prepayment Assumption
0% 100% 289% 450% 600%
GB, GC, GD, GE, GH, GI, GJ, GK andGroup 6 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 3.6 2.7 2.2 1.8
Group 7PSA Prepayment Assumption
0% 50% 120% 250% 400%
MA, MJ, MK and MO . . . . . . . . . . . . . . . . . . . . . . . . 15.6 8.6 5.4 3.2 2.2MV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.7 7.7 7.6 6.0 4.5MY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.8 22.8 18.4 12.0 8.1MZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.8 22.8 18.7 12.9 8.9Group 7 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.9 12.4 9.0 5.6 3.8
(1) We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to differ from those shown, perhaps significantly.
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Group 8CPR Prepayment Assumption
0% 10% 15% 25% 30%
FK, SK and Group 8 Assets . . . . . . . . . . . . . . . . . . . . . . 11.9 6.2 4.8 3.1 2.6
Group 9PSA Prepayment Assumption
0% 100% 190% 300% 400%
AA(2), NA, NB, NC, ND, NE, NG, NH, NI, NJ, NK,NL, NM, NO, NP, NQ, NT, NU, NV, NW andGroup 9 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.1 19.7 10.7 2.6 1.2
Group 10CPR Prepayment Assumption
0% 10% 15% 25% 30%
GF, GS and Group 10 Assets . . . . . . . . . . . . . . . . . . . . . 12.0 6.3 4.8 3.1 2.6
Group 11PSA Prepayment Assumption
0% 100% 158% 300% 400%
JA, JK, JM and JO . . . . . . . . . . . . . . . . . . . . . . . . . . 10.9 6.1 4.9 3.2 2.5JY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.3 16.6 15.4 11.8 9.7Group 11 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.8 7.3 6.1 4.2 3.3
Group 12PSA Prepayment Assumption
0% 100% 200% 300% 400%
KB and KI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.6 5.4 3.6 2.7 2.1KC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.0 15.0 12.6 10.3 8.3Group 12 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.0 6.9 5.1 3.9 3.1
Group 13PSA Prepayment Assumption
0% 100% 200% 300% 400%
BA, BC, BD, BE, BG, BH, BI, BJ, BK and LM . . . . . 18.5 11.2 7.4 5.4 4.2IL, KW, LN, LP, LQ, LT, LU, LV, LW, LY and
Group 13 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . 10.9 5.5 3.5 2.5 1.9LA, LB, LC, LD, LE, LG, LH, LI, LJ and LK . . . . . . . 9.8 4.7 2.9 2.1 1.6
(2) The weighted average lives for the Retail Class apply to that Class as a whole. The weighted average lives of Retail ClassUnits will vary among different investors.
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The Assets
The Group 1, 2, 5, 9 and 13 Assets (the “Multiclass Assets”) consist of:
Group Class
Percentage ofClass in
This SeriesBalance inThis Series
Class Factorfor Month ofClosing Date
ClassCoupon
Principal/Interest Type Final Payment Date
1 ⎧⎨⎩4276-KG(1) 100% $10,175,928 0.97667040 4.0% PAC II/FIX November 15, 20434299-KJ(1) 100 7,534,452 0.99543561 4.0 PAC II/FIX January 15, 2044
2 4293-VA(2) 100 18,979,633 0.99245101 2.5 SC/SEQ/FIX August 15, 2038
5 ⎧⎨⎩3760-NC(3) 100 15,345,000 1.00000000 4.0 PAC/FIX(4) November 15, 20403770-EN(3) 70.5776724622 19,190,235 1.00000000 4.0 PAC I/FIX(4) December 15, 2040
9 ⎧⎨⎩4159-NQ(1) 80.5258033106 3,906,081 0.94463881 2.5 SCH/FIX(5) January 15, 20434159-NU(1)(3) 100 11,876,044 1.00000000 2.5 SUP/FIX(5) January 15, 2043
13 4057-BA(1) 49.1135336066 34,106,825 0.45769915 3.5 SEQ/FIX June 15, 2038
(1) Backed by Super-Conforming Mortgages. See General Information — The Mortgages.(2) Backed by 4257-DV (a SEQ/FIX Class).(3) MACR Class.(4) This Class now behaves as a Sequential Pay Class.(5) 4159-NQ and 4159-NU together behave as a Support Class.
The Group 3, 4, 6, 7, 11 and 12 Assets (the “PC Assets”) consist of Freddie Mac PCs with thefollowing characteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
3 $ 47,563,819 10 4.0%4 63,121,456 10 2.56 123,604,526 10 2.57* 54,525,671 30 3.0
11 93,973,812 20 3.012 12,215,359 20 3.5
* Backed by High LTV Mortgages. See General Information — The Mortgages.
The Group 8 and 10 Assets (the “ARM Assets”) consist of $48,577,845.84 and $36,368,204.78,respectively, of 30-year Freddie Mac ARM PCs and ARM Giant PCs having the Pool Numbers andrelated Mortgage characteristics shown in Appendix B.
The ARM Assets are backed by 30-year, adjustable rate mortgages (“ARMs”). The ARMs hadfixed interest rates for their first three, five, seven or ten years, after which their interest rates andmonthly payment amounts adjust semi-annually or annually based on One-Year LIBOR, Six-MonthLIBOR or the One-Year Treasury Index, in each case as determined under the terms of the ARMs(“One-Year LIBOR,” “Six-Month LIBOR” or “One-Year Treasury,” respectively), plus aspecified percentage, or margin. Generally, interest rates could increase or decrease up to 2.0%, 5.0%or 6.0% on their initial adjustment date and can increase or decrease up to 1.0% or 2.0% on eachadjustment date thereafter, subject in each case to a lifetime ceiling, generally of approximately 5% or6% above their initial fixed rate. Approximately 45.17% of the Group 8 ARM Assets andapproximately 25.35% of the Group 10 ARM Assets are backed by Initial Interest Mortgages thatrequire payments of accrued interest (but do not require payments of principal) for up to three, five orten years following origination; however, the interest only periods have expired for approximately93.62% of such Initial Interest Mortgages backing the Group 8 ARM Assets, and for approximately17.07% of such Initial Interest Mortgages backing the Group 10 ARM Assets. Approximately 2.54%of the Group 8 ARM Assets are backed by Prepayment Penalty Mortgages; however, the premiumpayment time periods related to the Prepayment Penalty Mortgages have expired. Approximately
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0.93% of the Group 8 ARM Assets and approximately 4.23% of the Group 10 ARM Assets are backedby Reduced Servicing Fee Mortgages. See General Information — The Mortgages.
The Assets of this Series also include a $999.99 Retail Rounding Account, which we will use forprincipal payments on the Retail Class as described in Appendix IV to the Offering Circular.
We have agreed to sell the Group 3, 4 and 11 Assets to the Underwriter for inclusion in thisSeries.
See General Information — Structure of Transaction and Exhibits I through VII.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
Mortgage Characteristics (as of March 1, 2014)
Multiclass Assets — Mortgage Characteristics
Group Series
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
1 ⎧⎨⎩4276 347 10 4.626% 4.0%4299 356 3 4.519 4.0
2 4293/4257 340 14 3.082 2.5
5 ⎧⎨⎩3760 311 41 4.531 4.03770 312 41 4.479 4.0
9 4159 342 15 3.420 2.513 4057 332 23 3.958 3.5
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Group 3, 4 and 6 Assets — Mortgage Characteristics
GroupPool
Number Principal Balance
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
3
⎧⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎨⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎩
B13014 $ 486.23 1 120 4.625% 4.0%B13142 13,035.60 1 119 4.663 4.0B13654 34,061.02 1 119 4.250 4.0B13655 5,229.00 1 119 5.000 4.0B13658 6,548.75 1 119 4.375 4.0B13736 9,872.94 1 119 4.637 4.0B14039 4,634.59 2 118 4.250 4.0B14041 11,464.62 2 118 4.508 4.0B14387 4,337.21 8 112 4.541 4.0B14538 5,503.61 9 110 5.250 4.0B14730 89,887.70 2 118 4.250 4.0B14731 18,318.84 2 118 4.375 4.0B14860 24,873.10 2 118 4.621 4.0B15179 1,138.71 2 118 4.250 4.0B15181 20,958.62 3 117 4.556 4.0B17176 6,638.89 8 112 4.880 4.0B17493 10,908.71 8 111 4.876 4.0B17635 4,400.67 8 110 4.375 4.0B17636 11,893.93 10 110 4.607 4.0B18639 4,158.71 9 110 4.952 4.0E04242 4,112,568.80 78 36 4.480 4.0E04243 5,332,429.92 70 45 4.485 4.0E04415 2,192,732.32 80 33 4.414 4.0E04416 3,802,687.18 72 43 4.443 4.0E04417 4,672,557.57 63 51 4.504 4.0E04464 2,059,194.21 82 32 4.454 4.0E04465 4,130,730.31 73 41 4.465 4.0E04466 4,491,578.32 64 51 4.456 4.0E04467 1,558,105.40 84 32 4.453 4.0E04468 924,020.90 75 41 4.577 4.0E04469 1,011,464.39 64 51 4.579 4.0E04470 1,425,006.52 83 35 4.464 4.0E04471 1,509,194.02 76 38 4.495 4.0E04472 1,266,793.82 64 51 4.538 4.0G11542 3,614.60 1 119 4.476 4.0G11548 4,433.69 1 119 4.446 4.0G11554 508.25 1 119 4.560 4.0G11607 5,420.85 2 118 4.457 4.0G11624 34,717.20 5 115 4.572 4.0G11670 373,594.51 9 111 4.884 4.0G11787 33,838.68 12 107 4.863 4.0G14001 672,503.43 66 48 4.308 4.0G14058 71,147.32 1 119 4.512 4.0J02530 22,033.11 16 102 4.913 4.0J02531 11,740.11 17 102 5.125 4.0J09451 105,300.35 52 60 4.371 4.0J09619 82,595.47 58 59 4.343 4.0J09968 686,550.99 58 57 4.472 4.0J10337 3,473,152.61 56 56 4.423 4.0J10398 139,922.80 56 56 4.372 4.0J10637 820,256.39 61 55 4.446 4.0J11655 797,634.66 65 50 4.294 4.0J11995 62,905.18 56 47 4.250 4.0J12403 811,803.14 69 45 4.375 4.0J14544 572,730.67 76 37 4.282 4.0
$ 47,563,819.14 69* 46* 4.465*
4 G15001 $ 63,121,456.00 92 23 3.174 2.5
6
⎧⎪⎪⎨⎪⎪⎩
E04061 $ 34,344,095.50 97 20 3.008 2.5E04187 27,061,144.40 93 21 3.176 2.5G15004 61,028,343.66 97 18 2.938 2.5J20657 1,170,942.65 100 18 3.302 2.5
$123,604,526.21 96* 19* 3.013*
* Weighted average of weighted averages by principal balance.
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Group 7, 11 and 12 Assets — Assumed Mortgage Characteristics
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
7 $54,525,671 333 11 3.850% 3.0%11 93,973,812 224 15 3.453 3.012 12,215,359 211 26 3.902 3.5
ARM Assets — Mortgage Characteristics
Appendix B lists certain characteristics of the Mortgages underlying the ARM Assets.
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
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AVAILABLE INFORMATION
We incorporate by reference in this Supplement the Incorporated Documents listed underAdditional Information in the Offering Circular. For purposes of this Supplement, the “IncorporatedDocuments” also include, if you are investing in a Group 1, 2, 5, 9 or 13 Class, our Offering CircularSupplements for the related Multiclass Assets (each, a “Multiclass Asset Offering Circular”), thefront covers, Terms Sheets and, if applicable, MACR tables from which are in Exhibits I through VII.
When we incorporate documents by reference, that means we are disclosing information to you byreferring to those documents rather than by providing you with separate copies. The IncorporatedDocuments are considered part of this Supplement. You should purchase Certificates only if you haveread and understood this Supplement, the Offering Circular and the Incorporated Documents.Information that we incorporate by reference will automatically update information in this Supplement.We will also publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. You shouldrely only on the most current information provided or incorporated by reference in this Supplement andany applicable Supplemental Statement.
You may read and copy any document we file with the SEC at the SEC’s public reference room at100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for furtherinformation on the public reference room. The SEC also maintains a website at http://www.sec.govthat contains reports, proxy and information statements, and other information regarding companiesthat file electronically with the SEC.
You can obtain, without charge, copies of the Incorporated Documents, any documents wesubsequently file with the SEC, the Trust Agreement and current information concerning the Assetsand Certificates, as well as the disclosure documents and current information for any other securitieswe issue, from our Investor Inquiry Department or our internet website as described on page 7 of theOffering Circular. You can also obtain the documents listed above from the Underwriter at:
Citigroup Global Markets Inc.Prospectus Department
540 Crosspoint ParkwayBuilding 2
Attn: Compliance Fulfillment UnitGetzville, New York 14068
(800) 831-9146
GENERAL INFORMATION
The Trust Agreement
We will form a trust fund to hold the Assets and to issue the Certificates, each pursuant to theMulticlass Certificates Master Trust Agreement dated June 1, 2010 and a Terms Supplement dated theClosing Date (together, the “Trust Agreement”). We will act as Trustee and Administrator under theTrust Agreement.
You should refer to the Trust Agreement for a complete description of your rights and obligationsand those of Freddie Mac. You will acquire your Certificates subject to the terms and conditions of theTrust Agreement, including the Terms Supplement.
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Form of Certificates
The non-Retail Regular and MACR Classes are issued, held and transferable on the Fed System.The Retail Class is issued, held and transferable on the DTC System in $1,000 Retail Class Units. TheResidual Classes are issued and held in certificated form and are transferable at the office of theRegistrar.
Only a Fed Participant can be a Holder of a non-Retail Regular or MACR Class. DTC or itsnominee is the Holder of the Retail Class. As an investor in Certificates, you are not necessarily theHolder.
See Description of Certificates — Form, Holders and Payment Procedures in the OfferingCircular.
Denominations of Certificates
See Description of Certificates — Form, Holders and Payment Procedures in the OfferingCircular for the minimum denominations of the Classes.
Structure of Transaction
General
This Series is a Double-Tier Series, structured as follows:REMIC Pool Classes Issued from REMIC Pool REMIC Pool Assets
Upper-Tier All Regular Classes and R All Lower-Tier regular interestsand Retail Rounding Account
Lower-Tier RS The Assets
See Description of Certificates — REMIC Pool Structures in the Offering Circular.
The PC Assets
The PC Assets are Gold PCs and/or Gold Giant PCs.
The Multiclass Assets
The Multiclass Assets consist of previously issued Freddie Mac REMIC and MACR Certificates,which represent interests in their underlying PCs.
The ARM Assets
The ARM Assets are ARM PCs and ARM Giant PCs, which are backed by ARM PCs. EachARM PC bears interest at an annual rate equal to the weighted average of the interest rates of therelated ARMs, less the rates of servicing fees and Freddie Mac’s management and guarantee fees. EachARM bears interest at an annual rate which is based on the level of One-Year LIBOR, Six-MonthLIBOR or One-Year Treasury, as applicable, plus a margin. The interest rate applicable to a givenpayment on an ARM PC is the rate in effect for the second month preceding the month in which thatpayment is made. In general, all principal payments (including prepayments) and scheduled interestpayments (less servicing fees and Freddie Mac’s management and guarantee fees) on the underlyingMortgages are passed through on the related ARM PC, in each case monthly.
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For additional information about the Multiclass Assets, see the Multiclass Asset OfferingCirculars and other related information on our internet website. We have attached the front covers,Terms Sheets and, if applicable, MACR tables from the Multiclass Asset Offering Circulars asExhibits to this Supplement.
There may have been material changes since we prepared the Multiclass Asset Offering Circulars,including changes in prepayment rates, prevailing interest rates and other economic factors. Thesechanges may limit the usefulness of, and be inconsistent with the assumptions used in preparing, theMulticlass Asset Offering Circulars.
The Mortgages
The Mortgages underlying the Assets (the “Mortgages”) are first lien residential mortgages andmortgage participations.
The weighted average remaining terms to maturity, weighted average loan ages and weightedaverage interest rates of the Mortgages underlying the Multiclass Assets and the Group 3, 4 and 6Assets, as of March 1, 2014, are shown under Terms Sheet — Mortgage Characteristics. For purposesof this Supplement, we have made certain assumptions regarding the Mortgages underlying the Group7, 11 and 12 Assets, as shown under Terms Sheet — Mortgage Characteristics. The weighted averageremaining terms to maturity, weighted average loan ages, weighted average remaining terms toamortization (if applicable), weighted average current interest rates and other weighted averagecharacteristics of the Mortgages underlying the ARM Assets, as of March 1, 2014, are shown inAppendix B. However, the actual characteristics of most of the Mortgages differ from those shown orassumed, perhaps significantly. This is the case even if the weighted average characteristics of theMortgages are the same as those of mortgages having the characteristics shown or assumed.
The Group 1, 9 and 13 Assets are backed by Super-Conforming Mortgages. A “Super-Conforming Mortgage” is a Mortgage secured by a property located in a designated high-cost areawith an original principal balance exceeding the base conforming loan limit ($417,000 for a one-familyresidence, or up to 125% of the median house price for certain geographic areas, not to exceed$729,750 for a one-family residence).
The Group 7 Assets are backed by High LTV Mortgages. A “High LTV Mortgage” is aMortgage that has a loan-to-value ratio at origination of greater than 105% and equal to or lower than125% and may be a fixed-rate Relief Refinance Mortgage originated under our Home AffordableRefinance Program. We pool High LTV Mortgages separately from our other Mortgages.
Approximately 45.17% of the Group 8 ARM Assets and approximately 25.35% of the Group 10ARM Assets are backed by Initial Interest Mortgages; however, the interest only periods have expiredfor approximately 93.62% of the Initial Interest Mortgages backing the Group 8 ARM Assets and forapproximately 17.07% of the Initial Interest Mortgages backing the Group 10 ARM Assets. An“Initial Interest Mortgage” permits monthly payments of only accrued interest on the principalbalance of the Mortgage for a specified extended initial period, followed by monthly payments ofprincipal and interest (subject to periodic adjustments) for the remaining term of the Initial InterestMortgage. Full or partial prepayments may be made at any time under Initial Interest Mortgages. In thecase of a partial prepayment during the initial interest only period, the borrower’s monthly payment isreduced to reflect the reduced principal balance of the Initial Interest Mortgage.
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Approximately 2.54% of the Group 8 Assets are backed by Prepayment Penalty Mortgages. A“Prepayment Penalty Mortgage” requires prepayment premiums to be paid under certaincircumstances when prepayments are made within a specified time period. The requirement to payprepayment premiums may last up to, but no longer than, three years. The premium payment timeperiods have expired for the Prepayment Penalty Mortgages and, therefore, no premiums are payable.
Approximately 0.93% of the Group 8 ARM Assets and approximately 4.23% of the Group 10ARM Assets are backed by Reduced Servicing Fee Mortgages. On account of arrangements betweenthe sellers of these Mortgages and us, “Reduced Servicing Fee Mortgages” have minimum servicingfee levels that are below 0.25% per annum of the principal balances of such Mortgages, which is theprevailing minimum servicing fee level for Mortgages we acquire.
We will furnish some of the Assets from our own portfolio. Assets from our portfolio, or fromother sources, may emphasize specific Mortgage characteristics, such as loan purpose, source oforigination, geographic distribution or loan size, or specific borrower characteristics, such as creditscore or equity in the property. You can obtain information about the underlying Mortgagecharacteristics for the Assets from our internet website.
PAYMENTS
Payment Dates; Record Dates
We make payments of principal and interest on the Certificates on each Payment Date, beginningin the month (or second month, in the case of the Weighted Average Coupon Classes) following theClosing Date. A “Payment Date” is the 15th of each month or, if the 15th is not a Business Day, thenext Business Day.
On each Payment Date, any payment on a Certificate is made to the Holder of record as of the endof the preceding calendar month (or second preceding calendar month in the case of the WeightedAverage Coupon Classes).
On each Payment Date, DTC remits payments on the Retail Class to those DTC participants thatheld Retail Class Units of record as of the end of the preceding month.
Method of Payment
You will receive payments on your Certificates in the manner described under Description ofCertificates — Form, Holders and Payment Procedures in the Offering Circular.
Categories of Classes
For purposes of principal and interest payments, we have categorized the Classes as shown under“Principal Type” and “Interest Type” on the front cover and Appendix A. Appendix II to the OfferingCircular explains the abbreviations used for categories of Classes.
Interest
We pay 30 days’ interest on each Payment Date to the Holders of each Class on which interest hasaccrued, except that the Accrual Classes receive payments as described below. We calculate eachinterest payment on the outstanding balance of the Class immediately before the Payment Date and onthe basis of a 360-day year of twelve 30-day months.
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Accrual Period
The “Accrual Period” for each Payment Date is:
• For Weighted Average Coupon Classes — the second preceding calendar month.
• For Fixed Rate and Delay Classes other than Weighted Average Coupon Classes — thepreceding calendar month.
Fixed Rate Classes
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover andAppendix A.
Principal Only Classes
The Principal Only Classes are shown under Terms Sheet — Interest. They do not bear interest.
Notional Classes
The Notional Classes do not receive principal payments. For calculating interest payments, theNotional Classes have notional principal amounts that will reduce as shown under Terms Sheet —Notional Classes.
Floating Rate, Inverse Floating Rate and Weighted Average Coupon Classes
The Floating Rate, Inverse Floating Rate and Weighted Average Coupon Classes bear interest asshown under Terms Sheet — Interest. Their Class Coupons are based on one-month LIBOR.
We calculate the Class Coupons for the Floating Rate, Inverse Floating Rate and WeightedAverage Coupon Classes as described in Appendix V to the Offering Circular.
Notwithstanding anything to the contrary set forth in the Offering Circular, we determine LIBORusing the ICE Method described below. Accordingly, any discussion in the Offering Circular relatingto the “BBA Method” does not apply to the Floating Rate, Inverse Floating Rate and WeightedAverage Coupon Classes, and you should instead rely on the information in the following twoparagraphs.
We determine LIBOR using the rate, expressed as a percentage per annum, for one-month U.S.dollar deposits set by ICE Benchmark Administration Limited (“ICE”) as of 11:00 a.m. (London time)on the related Adjustment Date (the “ICE Method”). Rates determined by ICE are currently displayedon Bloomberg L.P.’s page “BBAM.” That page, or any other page that may replace BBAM on thatservice or any other service authorized by ICE to display the rates it determines for deposits in U.S.dollars, is a “Designated Page.” Rates determined by ICE are currently rounded to five decimalplaces.
If LIBOR determined under the ICE Method does not appear on the Designated Page as of 11:00a.m. (London time) on an Adjustment Date, or if the Designated Page is not then available, LIBOR forthat date will be the most recently published LIBOR determined under the ICE Method. In the eventthat any other entity assumes the administration of LIBOR from ICE, LIBOR shall be determined, inour sole discretion, either (i) on the basis of the succeeding administrator’s LIBOR determinationmethod, or (ii) by our designation of an alternative index that has performed, or that we expect toperform, in a manner substantially similar to the ICE Method. We will select an alternative index only
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if tax counsel advises us that the alternative index will not cause any affected REMIC Pools to losetheir classification as REMICs. We can provide no assurance that any alternative LIBORdetermination method or index will yield the same or similar economic results over the lives of theaffected Classes.
Accrual Classes
KZ and MZ are Accrual Classes. The Accrual Classes do not receive interest payments; rather,interest accrued on an Accrual Class during each Accrual Period is added to its principal amount on therelated Payment Date. We pay principal on each Accrual Class, including accrued interest that hasbeen added to its principal amount, as described under Terms Sheet — Principal.
Principal
We pay principal on each Payment Date to the Holders of the Classes on which principal is thendue. Holders receive principal payments on a pro rata basis among the Certificates of their Class,subject to special allocation procedures for investors in the Retail Class.
Amount of Payments
The principal payments on the Certificates on each Payment Date equal:
• The amount of interest accrued on each Accrual Class during the related Accrual Periodand not payable as interest on that Payment Date (the “KZ Accrual Amount” and the“MZ Accrual Amount”).
• The amount of principal required to be paid in the same month on the Assets of eachGroup (the “Group 1 Asset Principal Amount,” the “Group 2 Asset PrincipalAmount” and so forth).
Allocation of Payments
On each Payment Date, we pay the Accrual Amounts and the Asset Principal Amounts for thatPayment Date as described under Terms Sheet — Principal. Principal allocable to the Classes receivingpayments from a particular Asset Group will be allocated only to those Classes and will not beavailable for Classes receiving payments from the other Asset Groups.
Retail Class
Appendix IV to the Offering Circular describes how we make principal payments on the RetailClass.
Class Factors
General
We make Class Factors available on or about the fifth business day of each month after theClosing Date. See Description of Certificates — Payments — Class Factors in the Offering Circular.
Use of Factors
You can calculate principal and interest payments by using the Class Factors.
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For example, the reduction (or for an Accrual Class, the increase) in the balance of a Certificate inFebruary (or March, in the case of the Weighted Average Coupon Classes) will equal its originalbalance times the difference between its January and February Class Factors. (The Class Factor for theRetail Class applies to that Class as a whole, not to individual Retail Class Units, and disregards anyrounding of principal payments.) The amount of interest to be paid on (or for an Accrual Class, addedto the principal balance of) a Certificate in February (or March, in the case of the Weighted AverageCoupon Classes) will equal 30 days’ interest at its Class Coupon, accrued during the related AccrualPeriod, on the balance of that Certificate determined by its January Class Factor. (The interest payableon each outstanding Retail Class Unit in February will be based on its $1,000 balance, without regardto the January Class Factor.)
Guarantees
We guarantee to each Holder of a Certificate the timely payment of interest at its Class Couponand the payment of its principal amount as described in this Supplement. See Description ofCertificates — Payments — Guarantees in the Offering Circular.
1% Clean-up Call
We have a 1% Clean-up Call Right. If we exercise this right, all of the Classes then outstandingwill be paid in full and will retire. The Group 2 Assets will not, and the other Multiclass Assets may,become subject to the similar 1% Clean-up Call Rights in their Series. See Description ofCertificates — Payments — 1% Clean-up Call in the Offering Circular.
Residual Proceeds
Upon surrender of their Certificates to the Registrar, the Holders of each Residual Class willreceive the proceeds of any remaining assets of the related REMIC Pool after all required principal andinterest payments on the Classes have been made. Any remaining assets are likely to be insignificant.For R, they will include the Retail Rounding Account. See Description of Certificates — Payments —Residual Classes in the Offering Circular.
PREPAYMENT AND YIELD ANALYSIS
General
Mortgage Prepayments
The rates of principal payments on the Assets and the Certificates will depend on the rates ofprincipal payments, including prepayments, on the underlying Mortgages. The Mortgages, includingthe Prepayment Penalty Mortgages, are subject to prepayment at any time without penalty. Mortgageprepayment rates fluctuate continuously and, in some market conditions, substantially. SeePrepayment, Yield and Suitability Considerations — Prepayments in the Offering Circular for adiscussion of Mortgage prepayment considerations and risks.
Super-Conforming Mortgages may tend to prepay differently than standard conformingMortgages because of a number of factors, including their larger relative principal balance (and largerresulting savings in the case of refinancing in a low interest rate environment), the presence of FreddieMac and Fannie Mae in the secondary market for such Mortgages (which may tend to reduce the
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prevailing interest rates offered by lenders for extending such Mortgages and to increase fundsavailable for such Mortgages) and the possible geographic concentration of such Mortgages.
High LTV Mortgages may have different prepayment and default characteristics than othermortgages. High loan-to-value ratios are frequently associated with a lower likelihood of voluntaryprepayment and a greater risk of default. However, at this time, we do not have sufficient informationto determine whether or how the prepayment and default characteristics of High LTV Mortgages willcompare with those of other mortgages over an extended period of time.
Initial Interest Mortgages permit borrowers to pay only accrued interest for extended periodswithout requiring scheduled principal payments. When scheduled principal payments on theseMortgages commence, the required monthly payment may increase substantially because scheduledprincipal payments are calculated to pay off such a Mortgage over its then remaining term at the thencurrent interest rate. In addition, unless the borrower makes unscheduled principal payments during theinterest only period, equity accretion for the borrower during that period will result solely from marketprice appreciation on the related property. These factors will affect the prepayment behavior of theseMortgages.
The weighted average life of an Initial Interest Mortgage will differ from the weighted averagelife of an otherwise similar ARM having the same principal amount, interest rate and maturity and, as aresult, its yield may be more or less than the yield of the otherwise similar ARM, depending on itspurchase price. Assets backed by Initial Interest Mortgages may therefore have different yields thanAssets backed by otherwise similar ARMs. Moreover, prepayments of Initial Interest Mortgagesduring the interest only period may affect yields on the related Assets more than similar prepaymentswould affect the yields on Assets backed by otherwise similar ARMs.
Reduced Servicing Fee Mortgages may experience different prepayment rates than Mortgages towhich our prevailing minimum servicing fee level applies and which have similar interest rates or areincluded in PCs with similar pass-through rates.
Yield
As an investor in the Certificates, your yield will depend on:
• Your purchase price.
• The rate of principal payments on the underlying Mortgages.
• The actual characteristics of the underlying Mortgages.
• If you own a Floating Rate, Inverse Floating Rate or Weighted Average Coupon Class, thelevel of LIBOR.
• The delay between each Accrual Period and the related Payment Date.
• If you own a Weighted Average Coupon Class, the differing rates at which its relatedunderlying Assets reduce and the effects of periodic interest rate adjustments (andassociated interest rate adjustment caps and lifetime caps) on the levels of Mortgagepayments.
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• If you own a Group 1, 2, 5, 9 or 13 Class, the payment characteristics of the relatedMulticlass Assets in their own Series, as described in the Terms Sheets of the relatedMulticlass Asset Offering Circulars.
• If you own Retail Class Units, when they retire as a result of the special Retail Classprincipal payment rules described in Appendix IV to the Offering Circular.
See Prepayment, Yield and Suitability Considerations — Yields in the Offering Circular for adiscussion of yield considerations and risks.
Suitability
The Certificates may not be suitable investments for you. See Prepayment, Yield and SuitabilityConsiderations — Suitability in the Offering Circular for a discussion of suitability considerations andrisks.
Modeling Assumptions
To prepare the tables in this Supplement, we have made several assumptions. Unless otherwisenoted, each table employs the following assumptions (the “Modeling Assumptions”), among others:
• As of March 1, 2014, each Mortgage underlying the Multiclass Assets or the Group 3, 4 or6 Assets has a remaining term to maturity equal to the weighted average remaining term tomaturity, a loan age equal to the weighted average loan age, and an interest rate equal tothe weighted average interest rate, of all the Mortgages underlying the same PC.
• The Mortgages underlying the Group 7, 11 and 12 Assets have the characteristics shownunder Terms Sheet — Mortgage Characteristics.
• As of March 1, 2014, each Mortgage underlying the ARM Assets has the samecharacteristics as the weighted average characteristics of all the Mortgages underlying thesame ARM PC or ARM Giant PC, as applicable, shown in Appendix B.
• As of the Closing Date, the Assets have the balances shown under Terms Sheet — TheAssets or, in the case of (i) the Group 3, 4 and 6 Assets, shown under Terms Sheet —Mortgage Characteristics or (ii) the Group 8 and 10 Assets, shown in Appendix B.
• One-Year LIBOR is 0.552% per annum at all times, Six-Month LIBOR is 0.332% perannum at all times and One-Year Treasury is 0.125% per annum at all times.
• The Multiclass Assets receive payments as described in the Multiclass Asset OfferingCirculars.
• The Classes and Assets always receive payments on the 15th of the month, whether or nota Business Day.
• We do not exercise our 1% Clean-up Call Right.
• We do not round Retail Class principal payments to multiples of $1,000.
• Each Class is outstanding from the Closing Date to retirement and no exchanges occur.
The Modeling Assumptions, like any other stated assumptions, are likely to differ from actualexperience in many cases. For example, the Mortgages have characteristics more diverse than thoseassumed, many Payment Dates will occur on a Business Day after the dates assumed and we may
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exercise our 1% Clean-up Call Right. Moreover, Mortgage prepayment rates will differ from thepercentages of PSA and CPR shown in the tables. These differences will affect the actual paymentbehavior, weighted average lives and yields of the Classes, perhaps significantly.
See Prepayment, Yield and Suitability Considerations — Tabular Information in Supplements inthe Offering Circular for descriptions of weighted average life and yield calculations and the PSA andCPR prepayment models.
Prepayment and Weighted Average Life Considerations
Accretion Directed Classes
Payments of principal on the Accretion Directed Classes should be stable in varying degreesunder relatively slow prepayment scenarios because the related Accrual Amounts will be dedicated tomaking principal payments on those Classes until they retire. The weighted average life of anAccretion Directed Class cannot exceed its weighted average life as shown in the following table underany prepayment scenario, even a scenario where there are no prepayments. Based on the ModelingAssumptions, each Accretion Directed Class would retire on, but not before, its Final Payment Date ifthe underlying Mortgages were to prepay at any constant rate at or below the rate shown for that Classuntil it retires.
The principal payment stability of the Accretion Directed Classes is supported primarily by theirreceipt of the related Accrual Amounts. They are protected against early retirement by the Classesshown in the table below. When the applicable Classes retire, however, any Accretion Directed Class,if outstanding, will become sensitive to Mortgage prepayments and may retire before its Final PaymentDate.
Accretion Directed Classes
Class
Maximum WeightedAverage Life
(in years) Final Payment DatePrepayment Rate
at or below Protected By
Group 5KV . . . . . . . 7.0 February 15, 2027 137% PSA The Classes in either of Series 3760 or 3770
that must retire before the Group 5 Assetsbegin to reduce
Group 7MV . . . . . . . 7.7 August 15, 2028 95% PSA MA and MO
The underlying Mortgages have characteristics that differ from the Modeling Assumptions. As aresult, even if the Mortgages prepay at a rate at or somewhat below the rate shown for an AccretionDirected Class, that Class could retire before its Final Payment Date and its weighted average lifecould shorten.
Sequential Pay Classes
The Sequential Pay Classes receive principal payments from their related Assets in a prescribedsequence.
Pass-Through Classes
Each Pass-Through Class receives all or a specified portion of the principal payments made on itsrelated Assets. The sensitivity of each Pass-Through Class to prepayments on the underlyingMortgages is the same as that of its related Assets.
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The Multiclass Assets
The Group 1 Assets consist of PAC Classes that were structured to receive principal payments inaccordance with schedules. Based on the Modeling Assumptions for this Series, the Group 1 Assets, asa whole, currently have an Effective Range of 228% PSA through 276% PSA. We cannot predictwhether or for how long the Group 1 Assets might receive scheduled payments.
The Group 2 and 13 Assets consist of Sequential Pay Classes and the Group 5 Assets consist ofPAC Classes that now behave as Sequential Pay Classes. These Classes receive principal paymentsfrom their related Assets in a prescribed sequence with other Classes in their Series.
The Group 9 Assets consist of a Scheduled Class that was structured to receive principalpayments in accordance with a schedule and a Support Class. The Group 9 Assets, as a whole, mayreceive no principal payments for extended periods of time and may receive principal payments thatvary widely from month to month. We have classified the Group 9 Classes as Support and Notional(Support) Classes because their underlying Assets consist of Classes that together behave as a SupportClass.
See Prepayment and Yield Analysis in the Multiclass Asset Offering Circulars.
MACR Classes
The payment characteristics of the MACR Classes reflect the payment characteristics of theirrelated REMIC Classes.
Retail Class
Principal payments on the Retail Class will depend on the prepayment rate on the underlyingMortgages. As a result, it is uncertain when principal payments on the Retail Class will begin, how fastthey will occur and when the Retail Class will retire. Under some prepayment scenarios, your RetailClass Units could retire on the first Payment Date. On the other hand, they could retire as late as theFinal Payment Date for the Retail Class.
The amount of principal available for payment on the Retail Class on any given Payment Datewill be limited. As a result, if you request a Retail Class principal payment, your request may not behonored until long after you submit it. The likelihood that your request will be honored at anyparticular time will depend in part on the number of Retail Class Units owned by Deceased Ownerswho have a prior right of payment and on the number of Retail Class Units owned by other LivingOwners who have submitted requests. On the other hand, the amount of principal available forpayment on the Retail Class on any given Payment Date could exceed the amount necessary to honorall requests. In that case, you may receive principal payments you did not request.
When prevailing interest rates are higher than the Class Coupon of the Retail Class, a greaternumber of investors in that Class are likely to request Retail Class principal payments. At the sametime, however, Mortgage prepayment rates are likely to decline, reducing the funds available for RetailClass principal payments. By contrast, Mortgage prepayment rates are likely to accelerate whenprevailing interest rates decline, while investors may be less likely to request Retail Class principalpayments. If your Retail Class Units are selected for payment under such conditions, you may not beable to reinvest your payments in comparable securities at as high a yield.
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The following table shows the amounts that would be available for principal payments on theRetail Class during the twelve-month periods indicated at various percentages of PSA. We haveprepared this table using the Modeling Assumptions. Because you will receive principal payments onyour Retail Class in multiples of $1,000 and subject to special payment rules, you may not receive aprincipal payment on any particular date.
Amounts Available for Principal Payments
AA Class(Amounts in Thousands)
Twelve ConsecutiveMonths Through
PSA Prepayment Assumption100% 190% 300% 400%
March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0 $ 225 $ 928 $1,612March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 334 1,136 1,763March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 260 789 625March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 204 502 0March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 148 283 0March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 99 119 0March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 110 49 0March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 156 39 0March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 184 32 0March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 198 26 0March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 203 21 0March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 201 16 0March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152 194 13 0March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274 183 11 0March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274 171 8 0March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270 157 7 0March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321 143 5 0March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 314 130 4 0March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 301 116 3 0March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 286 103 3 0March 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 271 91 2 0March 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 255 80 2 0March 15, 2037 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 239 70 1 0March 15, 2038 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223 60 1 0March 15, 2039 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 208 52 1 0March 15, 2040 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 193 44 1 0March 15, 2041 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179 37 0 0March 15, 2042 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165 31 0 0March 15, 2043 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 14 0 0March 15, 2044 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0Total* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000 $4,000 $4,000 $4,000
* Totals may not equal sums of columns due to rounding.
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The amounts available for principal payments on the Retail Class during any twelve-month periodare likely to differ in many cases from the amounts shown in the table.
The weighted average lives of the Retail Class shown in the declining balances table below applyto that Class as a whole; the weighted average lives of your Retail Class Units will vary, and may varysignificantly, from the weighted average life of the Retail Class. We cannot predict the weightedaverage life of the Retail Class as a whole, much less the weighted average life of any particular RetailClass Unit.
Declining Balances Table
The following table shows:
• Percentages of original balances (as of the Closing Date) that would be outstanding aftereach of the Payment Dates shown at various percentages of PSA and CPR.
• Corresponding weighted average lives.
We have prepared this table using the Modeling Assumptions. However, for 0% PSA we haveassumed that each Mortgage underlying the Group 7, 11 or 12 Assets has (a) an interest rate2.5% higher than that of the related PCs and (b) a remaining term to maturity of 240 or 360 months, asapplicable, and a loan age of 0 months. We have calculated weighted average lives for each NotionalClass assuming that a reduction in its notional principal amount is a reduction in principal balance.
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Percentages of Original Balances Outstanding(1) and Weighted Average Lives
Group 1
KA, KD, KF, KS and Group 1 AssetsPSA Prepayment Assumption
Date 0% 100% 200% 300% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 85 85 85March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 63 63 49March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 40 40 0March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 22 10 0March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 9 4 0March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 0 0 0March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 0 0 0March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 0 0 0March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 0 0 0March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 0 0 0March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 98 0 0 0March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 64 0 0 0March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 24 0 0 0March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0March 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98 0 0 0 0March 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 0 0 0 0March 15, 2037 and after . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.8 12.3 2.7 2.5 1.9
Group 2
VA VB Group 2 AssetsPSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption
Date 0% 50% 110% 250% 400% 0% 50% 110% 250% 400% 0% 50% 110% 250% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 92 92 92 92 100 100 100 100 100 95 95 95 95 95March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 85 85 85 85 100 100 100 100 100 91 91 91 91 91March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 76 76 76 76 100 100 100 100 100 86 86 86 86 86March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 68 68 68 68 100 100 100 100 100 81 81 81 81 81March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 60 60 60 0 100 100 100 100 0 76 76 76 76 0March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 51 51 51 0 100 100 100 100 0 70 70 70 70 0March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 42 42 0 0 100 100 100 37 0 65 65 65 14 0March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 33 33 0 0 100 100 100 0 0 60 60 60 0 0March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 24 24 0 0 100 100 100 0 0 54 54 54 0 0March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 14 14 0 0 100 100 100 0 0 48 48 48 0 0March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 4 0 0 100 100 100 0 0 42 42 42 0 0March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 91 91 36 0 0 36 36 14 0 0March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 75 75 0 0 0 30 30 0 0 0March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 59 59 0 0 0 23 23 0 0 0March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 43 43 0 0 0 17 17 0 0 0March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 25 25 0 0 0 10 10 0 0 0March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 8 0 0 0 0 3 0 0 0 0March 15, 2032 and after . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.0 6.0 6.0 4.8 3.6 14.5 14.4 11.9 6.9 4.7 9.4 9.3 8.3 5.6 4.0
(1) Rounded to nearest whole percentage.
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Group 3
CB, CI and Group 3 AssetsPSA Prepayment Assumption
Date 0% 100% 289% 450% 600%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 78 69 61 53March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 59 46 36 27March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 42 28 20 13March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 26 15 9 6March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 11 6 3 2March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 1 1 0March 15, 2021 and after . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.0 2.7 2.1 1.8 1.5
Group 4
DB, DI and Group 4 AssetsPSA Prepayment Assumption
Date 0% 100% 289% 450% 600%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 83 74 66 58March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 68 53 41 32March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 53 36 25 17March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 40 24 15 9March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38 28 15 8 4March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 17 8 4 2March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 6 3 1 0March 15, 2022 and after . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.0 3.4 2.6 2.1 1.7
Group 5
KV KZ VKPSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption
Date 0% 100% 188% 300% 400% 0% 100% 188% 300% 400% 0% 100% 188% 300% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 94 94 94 94 104 104 104 104 104 100 100 100 100 100March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 88 88 88 88 108 108 108 108 108 100 100 100 100 100March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . 81 81 81 81 81 113 113 113 113 113 100 100 100 100 100March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 74 74 74 74 117 117 117 117 117 100 100 100 100 100March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 67 67 67 67 122 122 122 122 122 100 100 100 100 100March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 60 60 60 0 127 127 127 127 127 100 100 100 100 95March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 52 52 48 0 132 132 132 132 125 100 100 100 100 0March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 44 44 0 0 138 138 138 138 92 100 100 100 69 0March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 36 36 0 0 143 143 143 133 67 100 100 100 0 0March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 27 27 0 0 149 149 149 105 49 100 100 100 0 0March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 18 0 0 0 155 155 155 82 36 100 100 89 0 0March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 8 0 0 0 161 161 161 64 26 100 100 8 0 0March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 168 168 139 50 19 98 98 0 0 0March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 175 175 116 38 13 83 83 0 0 0March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 182 182 96 30 9 67 67 0 0 0March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 189 189 79 22 7 51 22 0 0 0March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 197 172 64 17 5 34 0 0 0 0March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 205 147 52 13 3 16 0 0 0 0March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 212 123 41 9 2 0 0 0 0 0March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 212 101 32 7 1 0 0 0 0 0March 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 212 81 24 5 1 0 0 0 0 0March 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 212 62 17 3 1 0 0 0 0 0March 15, 2037 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 185 45 12 2 0 0 0 0 0 0March 15, 2038 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 125 28 7 1 0 0 0 0 0 0March 15, 2039 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 63 13 3 0 0 0 0 0 0 0March 15, 2040 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 5 1 0 0 0 0 0 0 0 0March 15, 2041 . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.0 7.0 6.8 5.6 4.6 24.3 20.6 16.7 12.6 10.0 16.0 15.2 11.5 8.2 6.4
S-28
Group 5 AssetsPSA Prepayment Assumption
Date 0% 100% 188% 300% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 80March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 99 59March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 79 43March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 63 32March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 49 23March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 92 39 17March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 78 30 12March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 65 23 9March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 55 18 6March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 45 14 4March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 94 37 11 3March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 81 30 8 2March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 69 24 6 2March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 58 19 4 1March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 48 15 3 1March 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 38 11 2 0March 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 29 8 1 0March 15, 2037 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 21 6 1 0March 15, 2038 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 13 3 1 0March 15, 2039 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 6 1 0 0March 15, 2040 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 0 0 0 0March 15, 2041 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.3 20.1 15.4 11.0 8.5
Group 6
GB, GC, GD, GE, GH, GI, GJ, GK and Group 6 AssetsPSA Prepayment Assumption
Date 0% 100% 289% 450% 600%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 84 76 68 61March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 69 54 43 34March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 55 38 27 19March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 42 26 16 10March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 30 16 9 5March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 19 9 4 2March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 9 4 2 1March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1 0 0 0March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.2 3.6 2.7 2.2 1.8
S-29
Group 7
MA, MJ, MK and MO MV MYPSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption
Date 0% 50% 120% 250% 400% 0% 50% 120% 250% 400% 0% 50% 120% 250% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98 95 92 85 78 94 94 94 94 94 100 100 100 100 100March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 88 80 66 50 89 89 89 89 89 100 100 100 100 100March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 82 69 48 28 83 83 83 83 83 100 100 100 100 100March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 75 59 34 11 76 76 76 76 76 100 100 100 100 100March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90 69 50 21 0 70 70 70 70 57 100 100 100 100 96March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 63 41 11 0 63 63 63 63 0 100 100 100 100 71March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 57 33 3 0 57 57 57 57 0 100 100 100 100 52March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82 51 26 0 0 50 50 50 16 0 100 100 100 88 38March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79 46 20 0 0 43 43 43 0 0 100 100 100 72 28March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 40 14 0 0 35 35 35 0 0 100 100 100 59 21March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 35 8 0 0 27 27 27 0 0 100 100 100 48 15March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 30 3 0 0 20 20 20 0 0 100 100 100 39 11March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 25 0 0 0 12 12 0 0 0 100 100 95 32 8March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 20 0 0 0 3 3 0 0 0 100 100 84 26 6March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 15 0 0 0 0 0 0 0 0 100 100 74 21 4March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 10 0 0 0 0 0 0 0 0 100 100 64 16 3March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 6 0 0 0 0 0 0 0 0 100 100 55 13 2March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 1 0 0 0 0 0 0 0 0 100 100 47 10 1March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 0 0 0 0 0 0 0 0 0 100 91 40 8 1March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 0 0 0 0 0 0 0 0 0 100 80 34 6 1March 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 0 0 0 0 0 0 0 0 0 100 69 28 5 0March 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 0 0 0 0 0 0 0 0 0 100 58 22 3 0March 15, 2037 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 0 0 0 0 0 0 0 0 0 100 47 17 2 0March 15, 2038 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 0 0 0 0 0 0 0 0 0 100 37 13 2 0March 15, 2039 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 0 0 0 0 0 0 0 0 0 100 27 9 1 0March 15, 2040 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 90 17 5 1 0March 15, 2041 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 69 7 2 0 0March 15, 2042 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 47 0 0 0 0March 15, 2043 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 24 0 0 0 0March 15, 2044 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.6 8.6 5.4 3.2 2.2 7.7 7.7 7.6 6.0 4.5 27.8 22.8 18.4 12.0 8.1
MZ Group 7 AssetsPSA Prepayment Assumption PSA Prepayment Assumption
Date 0% 50% 120% 250% 400% 0% 50% 120% 250% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103 103 103 103 103 99 96 94 89 84March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 106 106 106 106 97 91 86 75 64March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 109 109 109 109 96 87 78 62 47March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113 113 113 113 113 94 82 70 52 35March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116 116 116 116 116 92 77 63 43 26March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 120 120 120 109 91 73 57 35 19March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123 123 123 123 80 89 69 52 29 14March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 127 127 127 59 87 65 46 24 10March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131 131 131 111 43 85 60 41 20 8March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 135 135 91 32 83 56 37 16 6March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 139 139 74 23 80 53 33 13 4March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143 143 143 61 17 78 49 29 11 3March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148 148 147 49 12 75 45 26 9 2March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152 152 129 40 9 72 41 23 7 2March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 154 113 32 6 69 38 20 6 1March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 154 99 25 4 66 35 17 4 1March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 154 85 20 3 63 31 15 4 1March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 154 73 16 2 60 28 13 3 0March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 140 62 12 2 56 25 11 2 0March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 123 52 9 1 52 22 9 2 0March 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 106 43 7 1 48 19 8 1 0March 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 89 34 5 0 44 16 6 1 0March 15, 2037 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 73 27 4 0 40 13 5 1 0March 15, 2038 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 57 20 3 0 35 10 4 0 0March 15, 2039 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154 41 14 2 0 30 7 2 0 0March 15, 2040 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138 26 8 1 0 24 5 1 0 0March 15, 2041 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 11 3 0 0 19 2 1 0 0March 15, 2042 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 0 0 0 0 13 0 0 0 0March 15, 2043 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 0 0 0 0 7 0 0 0 0March 15, 2044 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.8 22.8 18.7 12.9 8.9 18.9 12.4 9.0 5.6 3.8
S-30
Group 8
FK, SK and Group 8 AssetsCPR Prepayment Assumption
Date 0% 10% 15% 25% 30%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100April 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 87 82 72 68April 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93 75 67 52 46April 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90 65 55 38 31April 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 56 45 27 21April 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82 48 36 19 14April 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 41 29 14 9April 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 35 24 10 6April 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 30 19 7 4April 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 25 15 5 3April 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 21 12 3 2April 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 18 9 2 1April 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 15 7 2 1April 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 12 6 1 0April 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 10 4 1 0April 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 7 3 0 0April 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 6 2 0 0April 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 4 2 0 0April 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 3 1 0 0April 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 2 1 0 0April 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 1 0 0 0April 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 0 0 0 0April 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0 0 0 0April 15, 2037 and after . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.9 6.2 4.8 3.1 2.6
Group 9
AA(2), NA, NB, NC, ND, NE, NG, NH, NI, NJ, NK, NL, NM, NO, NP, NQ,NT, NU, NV, NW and Group 9 Assets
PSA Prepayment Assumption
Date 0% 100% 190% 300% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 94 77 60March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 86 48 16March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 80 29 0March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 74 16 0March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 71 9 0March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 68 6 0March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 65 5 0March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 62 4 0March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 57 3 0March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 52 2 0March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 47 2 0March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 42 2 0March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 96 37 1 0March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 89 32 1 0March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 83 28 1 0March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 76 24 1 0March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 68 21 0 0March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 60 17 0 0March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 52 15 0 0March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 45 12 0 0March 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 38 10 0 0March 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 32 8 0 0March 15, 2037 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 26 6 0 0March 15, 2038 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 21 4 0 0March 15, 2039 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 15 3 0 0March 15, 2040 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 11 2 0 0March 15, 2041 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 6 1 0 0March 15, 2042 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 2 0 0 0March 15, 2043 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.1 19.7 10.7 2.6 1.2
(2) The figures for the Retail Class apply to that Class as a whole. The prepayment behavior and weighted average lives of Retail Class Units will varyamong different investors.
S-31
Group 10
GF, GS and Group 10 AssetsCPR Prepayment Assumption
Date 0% 10% 15% 25% 30%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100April 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 87 83 73 68April 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94 76 68 53 46April 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 66 56 38 31April 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 57 46 28 21April 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 49 37 20 14April 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79 42 30 14 9April 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75 36 24 10 6April 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 30 19 7 4April 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 26 15 5 3April 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62 21 12 3 2April 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57 18 10 2 1April 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 15 7 2 1April 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 12 6 1 0April 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 10 4 1 0April 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 8 3 0 0April 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 6 2 0 0April 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 4 2 0 0April 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 3 1 0 0April 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 2 1 0 0April 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 1 0 0 0April 15, 2035 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 0 0 0 0April 15, 2036 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 0 0 0 0April 15, 2037 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 0 0 0 0April 15, 2038 and after . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.0 6.3 4.8 3.1 2.6
Group 11
JA, JK, JM and JO JY Group 11 AssetsPSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption
Date 0% 100% 158% 300% 400% 0% 100% 158% 300% 400% 0% 100% 158% 300% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . 97 91 88 82 77 100 100 100 100 100 97 92 90 84 80March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . 93 81 75 62 53 100 100 100 100 100 94 83 78 66 58March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . 90 71 63 46 35 100 100 100 100 100 91 74 67 52 42March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . 86 62 53 33 22 100 100 100 100 100 88 67 58 40 30March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . 82 54 43 23 12 100 100 100 100 100 84 59 50 31 22March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . 78 47 35 15 5 100 100 100 100 100 80 52 42 24 16March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . 74 39 28 8 0 100 100 100 100 100 77 46 36 19 11March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . 69 33 22 4 0 100 100 100 100 72 72 40 30 14 8March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . 64 27 16 0 0 100 100 100 97 50 68 35 25 11 6March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . 59 21 11 0 0 100 100 100 73 35 63 30 21 8 4March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . 53 16 7 0 0 100 100 100 54 24 58 25 17 6 3March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . 48 11 3 0 0 100 100 100 39 16 53 21 13 4 2March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . 41 7 0 0 0 100 100 96 28 11 48 17 11 3 1March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . 35 3 0 0 0 100 100 73 19 7 42 13 8 2 1March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . 28 0 0 0 0 100 92 53 12 4 36 10 6 1 0March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . 21 0 0 0 0 100 64 35 8 2 30 7 4 1 0March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . 13 0 0 0 0 100 38 20 4 1 23 4 2 0 0March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . 5 0 0 0 0 100 15 8 1 0 16 2 1 0 0March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 73 0 0 0 0 8 0 0 0 0March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.9 6.1 4.9 3.2 2.5 19.3 16.6 15.4 11.8 9.7 11.8 7.3 6.1 4.2 3.3
S-32
Group 12
KB and KI KC Group 12 AssetsPSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption
Date 0% 100% 200% 300% 400% 0% 100% 200% 300% 400% 0% 100% 200% 300% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . 97 88 82 75 68 100 100 100 100 100 97 90 85 79 73March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . 93 78 66 55 44 100 100 100 100 100 94 81 71 62 53March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . 90 67 52 38 27 100 100 100 100 100 91 73 60 48 39March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . 86 58 40 26 14 100 100 100 100 100 88 65 50 38 28March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . 82 49 30 15 5 100 100 100 100 100 85 57 41 29 20March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . 78 41 21 7 0 100 100 100 100 88 81 51 34 22 14March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . 73 34 14 1 0 100 100 100 100 62 77 44 28 17 10March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . 68 27 8 0 0 100 100 100 80 44 73 38 23 13 7March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . 63 20 3 0 0 100 100 100 60 30 69 33 18 10 5March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . 58 14 0 0 0 100 100 90 44 21 65 28 14 7 3March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . 52 8 0 0 0 100 100 70 32 14 60 23 11 5 2March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . 46 3 0 0 0 100 100 53 23 9 55 19 9 4 1March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . 39 0 0 0 0 100 92 39 16 6 49 15 6 3 1March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . 32 0 0 0 0 100 69 27 10 4 43 11 4 2 1March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . 25 0 0 0 0 100 48 18 6 2 37 8 3 1 0March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . 17 0 0 0 0 100 28 10 3 1 31 4 2 1 0March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . 9 0 0 0 0 100 10 3 1 0 24 2 1 0 0March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 100 0 0 0 0 16 0 0 0 0March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 52 0 0 0 0 8 0 0 0 0March 15, 2034 . . . . . . . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.6 5.4 3.6 2.7 2.1 19.0 15.0 12.6 10.3 8.3 12.0 6.9 5.1 3.9 3.1
Group 13
BA, BC, BD, BE, BG, BH, BI, BJ,BK and LM
IL, KW, LN, LP, LQ, LT, LU, LV,LW, LY and Group 13 Assets
LA, LB, LC, LD, LE, LG, LH, LI,LJ and LK
PSA Prepayment Assumption PSA Prepayment Assumption PSA Prepayment Assumption
Date 0% 100% 200% 300% 400% 0% 100% 200% 300% 400% 0% 100% 200% 300% 400%
Closing Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 15, 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 96 89 82 76 69 96 88 80 72 64March 15, 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 93 79 66 54 43 92 76 61 48 35March 15, 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 100 89 69 52 36 23 87 65 45 28 13March 15, 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 100 69 85 60 39 22 8 83 54 31 11 0March 15, 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 85 0 81 51 28 10 0 78 44 18 0 0March 15, 2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 100 4 0 77 43 18 0 0 73 35 7 0 0March 15, 2021 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 78 0 0 72 35 9 0 0 68 26 0 0 0March 15, 2022 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 13 0 0 67 27 2 0 0 63 17 0 0 0March 15, 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 0 0 0 63 20 0 0 0 58 9 0 0 0March 15, 2024 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 100 0 0 0 58 14 0 0 0 52 2 0 0 0March 15, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 59 0 0 0 52 7 0 0 0 46 0 0 0 0March 15, 2026 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 8 0 0 0 47 1 0 0 0 40 0 0 0 0March 15, 2027 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0 41 0 0 0 0 33 0 0 0 0March 15, 2028 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0 36 0 0 0 0 27 0 0 0 0March 15, 2029 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0 30 0 0 0 0 20 0 0 0 0March 15, 2030 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0 23 0 0 0 0 13 0 0 0 0March 15, 2031 . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 0 0 0 0 17 0 0 0 0 5 0 0 0 0March 15, 2032 . . . . . . . . . . . . . . . . . . . . . . . . . . . 82 0 0 0 0 10 0 0 0 0 0 0 0 0 0March 15, 2033 . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 0 0 0 0 3 0 0 0 0 0 0 0 0 0March 15, 2034 and after . . . . . . . . . . . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Weighted AverageLife (Years) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.5 11.2 7.4 5.4 4.2 10.9 5.5 3.5 2.5 1.9 9.8 4.7 2.9 2.1 1.6
S-33
Yield Tables
The following tables show pre-tax yields to maturity (corporate bond equivalent) of specifiedClasses at various percentages of PSA or CPR and levels of LIBOR, if applicable. We have preparedthese tables using the Modeling Assumptions and the assumed prices in the table captions, plusaccrued interest, if any. Actual sales will not necessarily occur at the assumed prices.
Pre-Tax Yields
Group 1
KS Class(Assumed Price: 10.125%)
LIBOR 100% PSA 200% PSA
228% PSAthrough
276% PSA 300% PSA 400% PSA
0.15450% . . . . . . . . . . . . . . 45.8% 7.3% 7.3% 4.3% (19.2)%1.15450 . . . . . . . . . . . . . . . 34.2 (6.9) (6.9) (10.5) (36.6)2.82725 . . . . . . . . . . . . . . . 13.5 (34.4) (34.4) (39.2) (71.2)4.50000 and Higher . . . . . . . * * * * *
Group 3
CI Class(Assumed Price: 9.0%)
100% PSA 227% PSA 289% PSA 450% PSA 600% PSA
8.4% 0.0% (4.3)% (15.8)% (27.2)%
Group 4
DI Class(Assumed Price: 8.0%)
100% PSA 139% PSA 289% PSA 450% PSA 600% PSA
2.4% 0.0% (9.6)% (20.5)% (31.4)%
Group 6
GI Class(Assumed Price: 7.75%)
100% PSA 189% PSA 289% PSA 450% PSA 600% PSA
5.4% 0.0% (6.3)% (17.0)% (27.5)%
Group 7
MJ Class(Assumed Price: 15.325%)
LIBOR 50% PSA 120% PSA 250% PSA 400% PSA
8.06250% and Lower . . . . . . . . . . . . . . 10.3% 1.5% (18.3)% (42.5)%8.15625 . . . . . . . . . . . . . . . . . . . . . . . . (2.9) (13.6) (36.9) (63.9)8.25000 and Higher . . . . . . . . . . . . . . . * * * *
* Less than (99.9)%.
S-34
MK Class(Assumed Price: 1.25%)
LIBOR 50% PSA 120% PSA 250% PSA 400% PSA
8.06250% and Lower . . . . . . . . . . . . . . * * * *8.15625 . . . . . . . . . . . . . . . . . . . . . . . . 135.2% 128.4% 115.0% 97.7%8.25000 and Higher . . . . . . . . . . . . . . . 332.1 323.7 307.4 287.7
MO Class(Assumed Price: 83.75%)
50% PSA 120% PSA 250% PSA 400% PSA
2.2% 3.4% 5.9% 8.6%
Group 8
SK Class(Assumed Price: 7.5%)
LIBOR 10% CPR 15% CPR 25% CPR 30% CPR
0.15450% . . . . . . . . . . . . . . . . . . . . . . . 9.2% 3.5% (8.4)% (14.7)%1.15450 . . . . . . . . . . . . . . . . . . . . . . . . . (6.1) (11.4) (22.7) (28.5)4.15450 . . . . . . . . . . . . . . . . . . . . . . . . . * * * *8.82725 . . . . . . . . . . . . . . . . . . . . . . . . . * * * *13.50000 . . . . . . . . . . . . . . . . . . . . . . . . * * * *
Group 9
NI Class(Assumed Price: 31.75%)
100% PSA 170% PSA 190% PSA 300% PSA 400% PSA
4.7% 0.0% (2.1)% (26.0)% *
NO Class(Assumed Price: 46.0%)
100% PSA 190% PSA 300% PSA 400% PSA
4.1% 9.3% 45.6% 88.1%
Group 10
GS Class(Assumed Price: 7.75%)
LIBOR 10% CPR 15% CPR 25% CPR 30% CPR
0.15450% . . . . . . . . . . . . . . . . . . . . . . . 8.7% 3.0% (8.9)% (15.2)%1.15450 . . . . . . . . . . . . . . . . . . . . . . . . . (6.3) (11.7) (22.9) (28.8)4.15450 . . . . . . . . . . . . . . . . . . . . . . . . . * * * *8.57725 . . . . . . . . . . . . . . . . . . . . . . . . . * * * *13.00000 . . . . . . . . . . . . . . . . . . . . . . . . * * * *
* Less than (99.9)%.
S-35
Group 11
JK Class(Assumed Price: 2.25%)
LIBOR 100% PSA 158% PSA 300% PSA 400% PSA
8.06250% and Lower . . . . . . . . . . . . . * * * *8.15625 . . . . . . . . . . . . . . . . . . . . . . . 59.7% 54.9% 42.3% 32.5%8.25000 and Higher . . . . . . . . . . . . . . 147.2 141.8 128.1 117.8
JM Class(Assumed Price: 15.0%)
LIBOR 100% PSA 158% PSA 300% PSA 400% PSA
8.06250% and Lower . . . . . . . . . . . . . 4.7% (0.6)% (15.6)% (27.5)%8.15625 . . . . . . . . . . . . . . . . . . . . . . . (9.5) (15.4) (32.5) (45.8)8.25000 and Higher . . . . . . . . . . . . . . * * * *
* Less than (99.9)%.
JO Class(Assumed Price: 85.5%)
100% PSA 158% PSA 300% PSA 400% PSA
2.7% 3.3% 5.2% 6.5%
Group 12
KI Class(Assumed Price: 14.625%)
100% PSA 160% PSA 200% PSA 300% PSA 400% PSA
6.7% 0.0% (5.0)% (18.7)% (33.9)%
Group 13
BI Class(Assumed Price: 16.375%)
100% PSA 200% PSA 300% PSA 352% PSA 400% PSA
19.2% 13.6% 5.3% 0.1% (5.2)%
IL Class(Assumed Price: 16.425%)
100% PSA 127% PSA 200% PSA 300% PSA 400% PSA
3.8% 0.0% (11.1)% (27.9)% (45.6)%
LI Class(Assumed Price: 15.0%)
100% PSA 114% PSA 200% PSA 300% PSA 400% PSA
2.4% 0.0% (16.3)% (37.0)% (58.2)%
S-36
FINAL PAYMENT DATES
The Final Payment Date for each Class is the latest date by which it will be paid in full and willretire. We calculate Final Payment Dates using highly conservative assumptions. The actual retirementof each Class may occur earlier than its Final Payment Date.
CERTAIN FEDERAL INCOME TAX CONSEQUENCES
General
Any discussion of tax matters herein and in the Offering Circular was not intended or written tobe used, and cannot be used, by any person for the purpose of avoiding tax penalties that may beimposed on such person. Such discussion was written to support the promotion and marketing of theCertificates. Investors should consult their own independent tax advisors regarding the Certificates andeach investor’s particular circumstances.
Subject to the assumptions described under Certain Federal Income Tax Consequences — REMICElection in the Offering Circular, each REMIC Pool will qualify as a REMIC for federal income taxpurposes.
Regular Classes
The Regular Classes are “regular interests” in the Upper-Tier REMIC Pool. See GeneralInformation — Structure of Transaction. They are treated as debt instruments for federal income taxpurposes and may be issued with original issue discount (“OID”) or at a premium. Based in part on(a) the level of LIBOR as of the date of this Supplement and (b) information provided by theUnderwriter regarding the initial prices at which it would have expected to sell or will sell substantialportions of the Regular Classes, we expect to report income to the Internal Revenue Service and toHolders of the Regular Classes assuming they are issued as follows:
• OID: AA, CI, DI, GI, GS, JK, JM, JO, JY, KA, KC, KD, KI, KS, KZ, MJ, MK, MO,MZ, NI, NO, SK, VA and VB.
• De Minimis OID: FK, GF, KF and MV.
• Premium: CB, DB, GB, KB, KV, LK, LM and VK.
OID generally results in recognition of taxable income in advance of the receipt of cashattributable to that income. The Pricing Speeds used for OID and premium calculations are:
• Groups 1, 12 and 13 — 200% PSA
• Group 2 — 110% PSA
• Groups 3, 4 and 6 — 289% PSA
• Group 5 — 188% PSA
• Group 7 — 120% PSA
• Groups 8 and 10 — 15% CPR
• Group 9 — 190% PSA
• Group 11 — 158% PSA
S-37
See Certain Federal Income Tax Consequences — Taxation of Regular Classes — Original IssueDiscount and — Premium in the Offering Circular. Mortgage prepayment rates will differ, perhapssignificantly, from the Pricing Speeds shown above.
As set forth above, we intend to report income with respect to CI, DI, GI, JK, JM, KI, MK and NIassuming those Classes are issued with OID. You should be aware, however, that the yields to maturityof CI, DI, GI, JK, JM, KI, MK and NI, based on their Pricing Speeds (and with respect to JK, JM andMK, the level of LIBOR as of the date of this Supplement), are negative. See Certain Federal IncomeTax Consequences — Taxation of Regular Classes — Negative Yield in the Offering Circular.
The Group 7 Assets are backed by High LTV Mortgages and no separate REMIC election hasbeen made for these Assets. Special tax considerations may apply to a real estate investment trust(“REIT”) that holds Regular Classes backed by High LTV Mortgages. Because the Assets backed byHigh LTV Mortgages are not in a separate REMIC Pool, these special tax considerations may apply toa REIT that holds any of the Regular Classes. Accordingly, we may be obligated to provide additionalinformation, pursuant to regulations under Code Section 6049, on such Regular Classes. See CertainFederal Income Tax Consequences — Status of REMIC Certificates in the Offering Circular.
Residual Classes
Each Residual Class is the “residual interest” in its related REMIC Pool. See GeneralInformation — Structure of Transaction. Special tax considerations apply to the Residual Classes. Thetaxation of the Residual Classes can produce a significantly less favorable after-tax return than if(a) the Residual Classes were taxable as debt instruments or (b) no portion of the taxable income on theResidual Classes were treated as “excess inclusions.” In certain periods, taxable income and theresulting tax liability on a Residual Class may exceed any payments on that Class. See Certain FederalIncome Tax Consequences — Taxation of Residual Classes in the Offering Circular.
A substantial tax may be imposed on certain transferors of a Residual Class and certain beneficialowners of a Residual Class that are “pass-through entities.” See Certain Federal Income TaxConsequences — Transfers of Interests in a Residual Class — Disqualified Organizations in theOffering Circular. You should not purchase a Residual Class before consulting your tax advisor.
We intend to report accruals of OID and market discount and to amortize premium with respect tothe Multiclass Assets using the applicable Pricing Speeds shown above, regardless of the PricingSpeeds used in their Series.
Certain Transfers of Residual Classes
The REMIC Regulations disregard:
1. A transfer of a “noneconomic residual interest” unless no significant purpose of the transfer isto impede the assessment or collection of tax.
2. Except in certain cases, a transfer of a residual interest to a foreign investor or a transfer of aresidual interest from a foreign investor to a U.S. investor. Accordingly, the Trust Agreementprohibits the transfer of an interest in a Residual Class to or from a foreign investor withoutour written consent.
S-38
See Certain Federal Income Tax Consequences — Transfers of Interests in a Residual Class —Additional Transfer Restrictions in the Offering Circular. In the case of a transfer that is disregarded,the transferor would continue to be treated as the owner of the residual interest and thus wouldcontinue to be subject to tax on its allocable portion of the net income of the REMIC.
MACR Classes
The arrangement under which the MACR Classes are created (the “MACR Pool”) will beclassified as a grantor trust under subpart E, part I of subchapter J of the Code. The interests in theRegular Classes that have been exchanged for the MACR Classes, including any exchanges effectiveon the Closing Date, will be the assets of the MACR Pool and the MACR Classes will representbeneficial ownership of these assets.
We intend to report income with respect to IL and LI assuming those Classes are issued with OID.See Certain Federal Income Tax Consequences — Taxation of MACR Classes — Tax Accounting forMACR Classes in the Offering Circular. You should be aware, however, that the yields to maturity ofIL and LI, based on their Pricing Speed, are negative. See Certain Federal Income TaxConsequences — Taxation of Regular Classes — Negative Yield in the Offering Circular.
The Group 7 Assets are backed by High LTV Mortgages and no separate REMIC election hasbeen made for these Assets. Special tax considerations may apply to a REIT that holds MACR Classeswhere the related REMIC Pool is backed by High LTV Mortgages. Because the Assets backed by HighLTV Mortgages are not in a separate REMIC Pool, these special tax considerations may apply to aREIT that holds any of the MACR Classes. See Certain Federal Income Tax Consequences —Taxation of MACR Classes — Tax Status in the Offering Circular.
For a discussion of certain federal income tax consequences applicable to the MACR Classes, seeCertain Federal Income Tax Consequences — Taxation of MACR Classes, — Exchanges of MACRClasses and Regular Classes and — Taxation of Certain Foreign Investors in the Offering Circular.
Foreign Account Tax Compliance Act
Investors should be aware that under legislation enacted in 2010 and related administrativeguidance (commonly known as “FATCA”), certain payments in respect of Regular and MACRClasses after June 30, 2014 and payments of the gross proceeds from the sale or other disposition ofsuch Classes after December 31, 2016 received by a non-U.S. entity may be subject to withholding ofU.S. federal income tax at a rate of 30 percent if such non-U.S. entity fails to take the required steps toprovide certain information regarding its “United States accounts” or its direct or indirect “substantialU.S. owners.” The required steps and the information to be provided will depend on whether the non-U.S. entity is considered a “foreign financial institution” for this purpose, and if an intergovernmentalagreement exists between the United States and an applicable foreign country that may modify theapplicable requirements.
FATCA applies to debt instruments that are treated, for U.S. federal income tax purposes, asissued after June 30, 2014. For example, MACR Classes that are treated as stripped bonds or couponsunder Code Section 1286 may be considered newly issued when purchased by an investor. Investorsshould consult their tax advisors regarding the potential application and impact of the FATCAwithholding rules based on their particular circumstances, including the applicability of anyintergovernmental agreement modifying these rules and the grandfathering rules for debt instruments.
S-39
ERISA CONSIDERATIONS
Fiduciaries of employee benefit plans should review ERISA Considerations in the OfferingCircular.
ACCOUNTING CONSIDERATIONS
You should consult your accountant for advice on the appropriate accounting treatment for yourCertificates. See Accounting Considerations in the Offering Circular.
LEGAL INVESTMENT CONSIDERATIONS
You should consult your legal advisor to determine whether the Certificates are a legal investmentfor you and whether you can use the Certificates as collateral for borrowings. See Legal InvestmentConsiderations in the Offering Circular.
PLAN OF DISTRIBUTION
Under an agreement with the Underwriter, we have agreed to sell all of the REMIC Certificates tothe Underwriter in exchange for the Assets. It is expected that we will buy certain of the Group 3, 4and 11 Classes from the Underwriter. From time to time we may purchase other Certificates in thesecondary market for our portfolio and we may sell any Certificates that we hold.
The Underwriter is offering the Certificates to the public in negotiated transactions at varyingprices to be determined at the time of sale, plus accrued interest on each interest-bearing Class from thefirst day of its initial Accrual Period. The Underwriter is offering the Certificates subject to theirissuance by us and subject to the Underwriter’s right to reject any order. The Underwriter may makesales to or through securities dealers. The dealers may receive compensation in the form of discounts,concessions or commissions from the Underwriter and commissions from any purchasers for whichthey act as agents.
The sales commission charged to a retail investor is likely to be a higher percentage of the salesprice than the commission charged to an institutional investor in any Class.
Our agreement with the Underwriter provides that we will indemnify it against certain liabilities.
LEGAL MATTERS
Our General Counsel or one of our Deputy General Counsels will render an opinion on thelegality of the Certificates. Cleary Gottlieb Steen & Hamilton LLP is representing the Underwriter onlegal matters concerning the Certificates.
S-40
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B-1
Offering Circular Supplement(To Offering CircularDated June 1, 2010)
$378,026,507
Freddie MacMulticlass Certificates, Series 4276
Offered Classes: REMIC Classes shown below and MACR Classes shown on Appendix AOffering Terms: The underwriter named below is offering the Classes in negotiated transactions at varying
pricesClosing Date: November 29, 2013
REMICClasses Original Balance Principal Type(1)
ClassCoupon
InterestType(1) CUSIP Number Final Payment Date
Group 1FA . . . . . . . . . . . . . . . . . . $ 99,136,408 PT (2) FLT 3137B5YE7 September 15, 2037SA . . . . . . . . . . . . . . . . . . 99,136,408 NTL(PT) (2) INV/IO 3137B5ZD8 September 15, 2037Group 2HA . . . . . . . . . . . . . . . . . . 100,102,000 SEQ 3.0% FIX 3137B5YT4 May 15, 2039VH . . . . . . . . . . . . . . . . . . 10,933,000 AD/SEQ 3.0 FIX 3137B5 Z P 1 April 15, 2025ZG . . . . . . . . . . . . . . . . . . 5,106,000 SEQ 3.0 FIX/Z 3137B5ZQ9 March 15, 2032ZH . . . . . . . . . . . . . . . . . . 21,930,099 SEQ 3.0 FIX/Z 3137B5 Z R 7 November 15, 2043Group 3AI . . . . . . . . . . . . . . . . . . 28,657,713 SC/NTL(PT) 3.0 FIX/IO 3137B5YD9 September 15, 2031Group 4GY . . . . . . . . . . . . . . . . . . 4,644,000 PAC I 4.0 FIX 3137B5YR8 November 15, 2043GZ . . . . . . . . . . . . . . . . . . 20,000,000 SUP 4.0 FIX/Z 3137B5 Y S 6 November 15, 2043KG . . . . . . . . . . . . . . . . . . 10,419,000 PAC II 4.0 FIX 3137B5YV9 November 15, 2043KZ . . . . . . . . . . . . . . . . . . 2,000 PAC II 4.0 FIX/Z 3137B5YW7 November 15, 2043MA . . . . . . . . . . . . . . . . . . 103,242,000 PAC I 4.0 FIX 3137B5YX5 January 15, 2043MT . . . . . . . . . . . . . . . . . . 2,512,000 PAC I 4.0 FIX 3137B5 Z 9 7 May 15, 2043ResidualR . . . . . . . . . . . . . . . . . . 0 NPR 0.0 NPR 3137B5 Z B 2 November 15, 2043RA . . . . . . . . . . . . . . . . . . 0 NPR 0.0 NPR 3137B5 Z C 0 November 15, 2043
(1) See Appendix II to the Offering Circular.(2) See Terms Sheet — Interest.
The Certificates may not be suitable investments for you. You should not purchase Certificates unless you havecarefully considered and are able to bear the associated prepayment, interest rate, yield and market risks ofinvesting in them. Certain Risk Considerations on page S-2 highlights some of these risks.
You should purchase Certificates only if you have read and understood this Supplement, the attached OfferingCircular and the documents identified under Available Information.
We guarantee principal and interest payments on the Certificates. These payments are not guaranteed by, andare not debts or obligations of, the United States or any federal agency or instrumentality other than FreddieMac. The Certificates are not tax-exempt. Because of applicable securities law exemptions, we have notregistered the Certificates with any federal or state securities commission. No securities commission hasreviewed this Supplement.
BofA Merrill Lynch
November 8, 2013
Exhibit I — Series 4276 Front Cover and Terms Sheet
I-1
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to theremainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, “R” refersto the R Class of this Series.
Payment Dates
We make payments of principal and interest on the Certificates on each monthly Payment Datebeginning in December 2013.
Form of Classes
Regular and MACR Classes: Book-entry on Fed System
Residual Classes: Certificated
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover andAppendix A.
The Floating Rate and Inverse Floating Rate Classes bear interest as shown in the following table.The initial Class Coupons apply only to the first Accrual Period. We determine LIBOR using the BBAMethod.
ClassInitial Class
Coupon Class Coupon FormulaClass Coupon Subject to
Minimum Rate Maximum Rate
FA . . . . . . . . . . . . . . . . . . . . . . . . . . 0.6685% LIBOR + 0.5% 0.5% 6.0%SA . . . . . . . . . . . . . . . . . . . . . . . . . . 5.3315 5.5% � LIBOR 0 5.5
See Appendix V to the Offering Circular and Payments — Interest.
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1SA $99,136,408 FA (PT)
Group 3AI $28,657,713 Group 3 Assets
Group 4GI* $52,877,000 MA and MT, as a whole (PAC I)MI* 51,621,000 MA (PAC I)TI* 1,256,000 MT (PAC I)
* MACR Class.
See Payments — Interest — Notional Classes.
I-2
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
Pass-Through ⎧⎨⎩• The Group 1 Asset Principal Amount to FA, until retired
Group 2
AccretionDirectedand Accrual ⎧⎨⎩• The ZG Accrual Amount to VH, until retired, and then to ZG
SequentialPay andAccrual ⎧⎨⎩• The ZH Accrual Amount to VH and ZG, in that order, until retired, and then to ZH
SequentialPay ⎧⎨⎩• The Group 2 Asset Principal Amount to HA, VH, ZG and ZH, in that order, until retired
Group 4
Type II PACand Accrual ⎧⎨⎩• The KZ Accrual Amount to KG, until retired, and then to KZ
• The GZ Accrual Amount and the Group 4 Asset Principal Amount in the following orderof priority:
Type I PAC ⎧⎨⎩1. To MA, MT and GY, in that order, until reduced to their Aggregate Targeted
Balance
Type II PAC ⎧⎨⎩ 2. To KG and KZ, in that order, until reduced to their Aggregate Targeted Balance
Support ⎧⎨⎩ 3. To GZ, until retired
Type II PAC ⎧⎨⎩ 4. To KG and KZ, in that order, until retired
Type I PAC ⎧⎨⎩ 5. To MA, MT and GY, in that order, until retired
I-3
The “Aggregate Targeted Balances” are in Appendix B. They were calculated using thefollowing Structuring Ranges.
Structuring Range
Type I PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120% PSA - 275% PSAType II PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158% PSA - 275% PSA
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principalpayments, we allocate such payments from the applicable REMIC Certificates to those MACRCertificates, as described under MACR Certificates in the Offering Circular.
REMIC Status
We will form two Single-Tier REMIC Pools for this Series. We will elect to treat each REMICPool as a REMIC under the Code. R and RA will be “Residual Classes” and the other Classes shownon the front cover will be “Regular Classes.” The Residual Classes will be subject to transferrestrictions. See Certain Federal Income Tax Consequences in this Supplement and the OfferingCircular.
Weighted Average Lives (in years)*
Group 1PSA Prepayment Assumption
0% 100% 300% 450% 600%
FA, SA and Group 1 Assets . . . . . . . . . . . . . . . . . . . . 15.6 9.6 4.6 3.1 2.2
Group 2PSA Prepayment Assumption
0% 100% 150% 300% 400%
HA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.6 6.2 4.8 2.8 2.2HY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.8 20.0 16.8 10.5 8.2VH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.0 6.0 6.0 4.9 4.2ZG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.0 13.9 11.7 7.3 5.8ZH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.8 20.6 17.9 11.8 9.3ZL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.8 20.0 16.9 11.1 8.7Group 2 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.9 10.0 8.1 4.9 3.9
Group 3PSA Prepayment Assumption
0% 100% 200% 300% 400%
AI and Group 3 Assets . . . . . . . . . . . . . . . . . . . . . . . . 9.2 5.8 4.1 3.2 2.6
* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to differ from those shown, perhaps significantly.
I-4
Group 4PSA Prepayment Assumption
0% 120% 225% 275% 500% 800%
GA, GB, GC, GD, GE, GH, GI, GJ,GL and GM . . . . . . . . . . . . . . . . . . . . . . . . 13.6 5.8 5.8 5.8 3.7 2.5
GY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.1 20.4 20.4 20.4 12.3 7.4GZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.2 19.4 8.7 2.2 0.8 0.5KG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.4 9.8 2.8 2.8 1.5 1.0KZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.5 14.1 10.3 10.3 1.9 1.2MA, MB, MC, MD, ME, MG, MH, MI,
ML and MN . . . . . . . . . . . . . . . . . . . . . . . 13.3 5.6 5.6 5.6 3.5 2.4MT, TB, TC, TD, TE, TH, TI, TJ,
TL and TM . . . . . . . . . . . . . . . . . . . . . . . . 22.2 15.9 15.9 15.9 9.2 5.6MY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.8 18.8 18.8 18.8 11.2 6.8Group 4 Assets . . . . . . . . . . . . . . . . . . . . . . . 19.6 9.6 6.5 5.6 3.4 2.2
The Assets
The Group 1, 2 and 4 Assets (the “PC Assets”) consist of Freddie Mac PCs with the followingcharacteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
1(1) $ 99,136,408 30 6.0%2(2) 138,071,099 30 3.04(3) 140,819,000 30 4.0
(1) Backed by Initial Interest Mortgages that require payments of accrued interest (but do not require payments of principal) forup to 10 years following origination. See General Information — The Mortgages.
(2) Backed by High LTV Mortgages. See General Information — The Mortgages.(3) Backed by Super-Conforming Mortgages. See General Information — The Mortgages.
The Group 3 Assets (the “Multiclass Assets”) consist of:
Class
Percentage ofClass in
This SeriesBalance inThis Series
Class Factorfor Month ofClosing Date
ClassCoupon
Principal/Interest Type Final Payment Date
4213-CI 100% $16,226,170 0.97357028 3.0% NTL(SEQ)/FIX/IO September 15, 20314259-EI 100 12,431,543 0.99452348 3.0 NTL(SEQ)/FIX/IO October 15, 2030
See General Information — Structure of Transaction and Exhibits I and II.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
I-5
Mortgage Characteristics (as of November 1, 2013)
Group 1 Assets — Mortgage Characteristics
PoolNumber
PrincipalBalance
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AverageRemaining TermTo Amortization
(in months)(1)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
H00787 $ 9,228,679.80 281 79 42 6.378% 6.0%H00803 13,018,153.50 281 79 42 6.375 6.0H00925 7,303,235.48 283 77 44 6.513 6.0H00964 5,792,734.17 283 77 44 6.438 6.0H00989 13,721,701.71 283 77 44 6.250 6.0H00990 13,480,482.06 283 77 44 6.375 6.0H01030 8,958,313.97 283 77 44 6.375 6.0H01271 6,576,067.80 285 75 46 6.702 6.0H09053 21,057,040.12 283 77 44 6.335 6.0
$99,136,408.61 283(2) 77(2) 44(2) 6.385(2)
(1) Remaining term to amortization represents the number of months from November 1, 2013 through and including the firstmonth in which a scheduled principal payment will be required in accordance with the terms of the Mortgage.
(2) Weighted average of weighted averages by principal balance.
Group 2 and 4 Assets — Assumed Mortgage Characteristics
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
2 $138,071,099 342 9 3.730% 3.0%
4⎧⎪⎨⎪⎩
$ 48,817,253 340 16 4.590 4.092,001,747 358 2 4.690 4.0
$140,819,000 352* 7* 4.655*
* Weighted average by principal balance.
Multiclass Assets — Mortgage Characteristics
Series
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
4213 232 7 3.605% 3.0%4259 232 7 3.651 3.0
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
I-6
Offering Circular Supplement(To Offering CircularDated June 1, 2010)
$323,127,777
Freddie MacMulticlass Certificates, Series 4299
Offered Classes: REMIC Classes shown below and MACR Classes shown on Appendix A
Offering Terms: The underwriter named below is offering the Classes in negotiated transactions at varyingprices
Closing Date: January 30, 2014
REMICClasses
OriginalBalance Principal Type(1)
ClassCoupon
InterestType(1)
CUSIPNumber Final Payment Date
Group 1JA . . . . . . . . . . . . . . . . $ 90,079,000 PAC I 4.0% FIX 3137B74L0 July 15, 2043JY . . . . . . . . . . . . . . . . 3,782,000 PAC I 4.0 FIX 3137B75D7 January 15, 2044KJ . . . . . . . . . . . . . . . . 7,569,000 PAC II 4.0 FIX 3137B75E5 January 15, 2044KZ . . . . . . . . . . . . . . . . 2,000 PAC II 4.0 FIX/Z 3137B75F2 January 15, 2044ZJ . . . . . . . . . . . . . . . . 20,000,000 SUP 4.0 FIX/Z 3137B75N5 January 15, 2044Group 2IO . . . . . . . . . . . . . . . . 117,403,000 NTL(SEQ) 3.0 FIX/IO 3137B74K2 December 15, 2037PO . . . . . . . . . . . . . . . . 117,403,000 SEQ 0.0 PO 3137B75H8 December 15, 2037ZA . . . . . . . . . . . . . . . . 24,597,000 SEQ 3.0 FIX/Z 3137B75M7 January 15, 2044Group 3PV . . . . . . . . . . . . . . . . 11,370,000 SC/AD/SEQ/PAC 3.5 FIX 3137B7 5 J 4 April 15, 2025PZ . . . . . . . . . . . . . . . . 23,615,777 SC/SEQ/PAC 3.5 FIX/Z 3137B75K1 March 15, 2042Group 4GT . . . . . . . . . . . . . . . . 10,000,000 SC/SEQ 4.0 FIX 3137B74F3 March 15, 2038GV . . . . . . . . . . . . . . . . 5,287,000 SC/AD/SEQ 4.0 FIX 3137B74G1 March 15, 2025GZ . . . . . . . . . . . . . . . . 9,423,000 SC/SEQ 4.0 FIX/Z 3137B7 4 J 5 October 15, 2041ResidualR . . . . . . . . . . . . . . . . 0 NPR 0.0 NPR 3137B75L9 January 15, 2044RS . . . . . . . . . . . . . . . . 0 NPR 0.0 NPR 3137B7B57 January 15, 2044
(1) See Appendix II to the Offering Circular.
The Certificates may not be suitable investments for you. You should not purchase Certificates unless you havecarefully considered and are able to bear the associated prepayment, interest rate, yield and market risks ofinvesting in them. Certain Risk Considerations on page S-2 highlights some of these risks.
You should purchase Certificates only if you have read and understood this Supplement, the attached OfferingCircular and the documents identified under Available Information.
We guarantee principal and interest payments on the Certificates. These payments are not guaranteed by, andare not debts or obligations of, the United States or any federal agency or instrumentality other than FreddieMac. The Certificates are not tax-exempt. Because of applicable securities law exemptions, we have notregistered the Certificates with any federal or state securities commission. No securities commission hasreviewed this Supplement.
BofA Merrill Lynch
January 14, 2014
Exhibit II — Series 4299 Front Cover and Terms Sheet
II-1
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to theremainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, “R” refersto the R Class of this Series.
Payment Dates
We make payments of principal and interest on the Certificates on each monthly Payment Datebeginning in February 2014.
Form of Classes
Regular and MACR Classes: Book-entry on Fed System
Residual Classes: Certificated
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover andAppendix A.
The following Classes are Principal Only Classes and do not bear interest.Group Class
1 JO*2 PO
* MACR Class.
See Payments — Interest.
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1JI* $ 56,299,375 JA (PAC I)
Group 2IO $117,403,000 PO (SEQ)
* MACR Class.
See Payments — Interest — Notional Classes.
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
II-2
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
Type II PACand Accrual ⎧⎨⎩• The KZ Accrual Amount to KJ, until retired, and then to KZ
• The ZJ Accrual Amount and the Group 1 Asset Principal Amount in the following orderof priority:
Type I PAC ⎧⎨⎩ 1. To JA and JY, in that order, until reduced to their Aggregate Targeted Balance
Type II PAC ⎧⎨⎩ 2. To KJ and KZ, in that order, until reduced to their Aggregate Targeted Balance
Support ⎧⎨⎩ 3. To ZJ, until retired
Type II PAC ⎧⎨⎩ 4. To KJ and KZ, in that order, until retired
Type I PAC ⎧⎨⎩ 5. To JA and JY, in that order, until retired
Group 2
SequentialPay ⎧⎨⎩
• The ZA Accrual Amount and the Group 2 Asset Principal Amount to PO and ZA, in thatorder, until retired
Group 3
SC/SequentialPay/PAC
⎧⎨⎩• The PZ Accrual Amount and the Group 3 Asset Principal Amount to PV and PZ, in that
order, until retired
Group 4
SC/SequentialPay andAccrual
⎧⎨⎩• The GZ Accrual Amount to GV and GT, in that order, until retired, and then to GZ
SC/SequentialPay ⎧⎨⎩• The Group 4 Asset Principal Amount GT, GV and GZ, in that order, until retired
The “Aggregate Targeted Balances” are in Appendix B. They were calculated using thefollowing Structuring Ranges.
Structuring Range
Type I PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130% PSA - 310% PSAType II PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164% PSA - 310% PSA
See Payments — Principal and Prepayment and Yield Analysis.
II-3
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principalpayments, we allocate such payments from the applicable REMIC Certificates to those MACRCertificates, as described under MACR Certificates in the Offering Circular.
REMIC Status
We will form an Upper-Tier REMIC Pool and a Lower-Tier REMIC Pool for this Series. We willelect to treat each REMIC Pool as a REMIC under the Code. R and RS will be “Residual Classes”and the other Classes shown on the front cover will be “Regular Classes.” The Residual Classes willbe subject to transfer restrictions. See Certain Federal Income Tax Consequences in this Supplementand the Offering Circular.
Weighted Average Lives (in years)*
Group 1PSA Prepayment Assumption
0% 130% 250% 310% 500% 700%
JA, JB, JC, JD, JE, JG, JH, JI, JK, JL, JM, JN,JO, JP, JQ, JT and JU . . . . . . . . . . . . . . . . . 13.0 5.6 5.6 5.6 4.0 3.1
JY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.4 19.3 19.3 19.3 12.8 9.1KJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.6 9.1 3.0 3.0 2.0 1.6KZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.7 13.4 10.4 10.4 2.5 1.9ZJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.8 18.6 8.1 2.5 1.3 1.0Group 1 Assets . . . . . . . . . . . . . . . . . . . . . . . 19.6 9.5 6.3 5.4 3.7 2.8
Group 2PSA Prepayment Assumption
0% 100% 200% 300% 400%
AB, AC, AD, IO and PO . . . . . . . . . . . . . . . . . . . . . . 14.2 6.2 4.0 2.9 2.2ZA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.1 19.9 14.8 11.2 8.8Group 2 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.9 9.7 6.4 4.6 3.6
Group 3PSA Prepayment Assumption
0% 100% 140% 250% 400%
PB and Group 3 Assets . . . . . . . . . . . . . . . . . . . . . . . 21.1 17.1 17.1 16.0 10.8PV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.0 6.0 6.0 6.0 5.4PZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.1 17.1 17.1 16.0 11.2
Group 4PSA Prepayment Assumption
0% 100% 200% 300% 400%
GT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.8 13.0 11.1 9.5 7.2GV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.0 6.0 6.0 6.0 5.6GY and Group 4 Assets . . . . . . . . . . . . . . . . . . . . . . . 22.3 15.4 14.3 12.5 9.6GZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.5 16.7 16.3 14.5 11.5
* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to differ from those shown, perhaps significantly.
II-4
The Assets
The Group 1 and 2 Assets (the “PC Assets”) consist of Freddie Mac PCs with the followingcharacteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
1* $121,432,000 30 4.0%2 142,000,000 30 3.0
* Backed by Super-Conforming Mortgages. See General Information — The Mortgages.
The Group 3 and 4 Assets (the “Multiclass Assets”) consist of:
Group Class
Percentage ofClass in
This SeriesBalance inThis Series
Class Factorfor Month ofClosing Date
ClassCoupon
Principal/Interest Type Final Payment Date
3 4010-PB 100% $34,985,777 1.00000000 3.5% PAC I/FIX March 15, 20424 3943-DB* 100 24,710,000 1.00000000 4.0 PAC I/FIX October 15, 2041
* MACR Class.
See General Information — Structure of Transaction and Exhibits I and II.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
Mortgage Characteristics (as of January 1, 2014)
PC Assets — Assumed Mortgage Characteristics
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
1 $121,432,000 358 1 4.52% 4.0%2 142,000,000 340 16 3.42 3.0
Multiclass Assets — Mortgage Characteristics
Group Series
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
3 4010 319 34 4.476% 4.0%4 3943 317 39 4.635 4.0
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
II-5
Offering Circular Supplement(To Offering CircularDated June 1, 2010)
$701,748,139
Freddie MacMulticlass Certificates, Series 4293
Offered Classes: REMIC Classes shown below and MACR Classes shown on Appendix A
Offering Terms: The underwriter named below is offering the Classes in negotiated transactions at varying prices; it isexpected that we will purchase certain of the Group 1 Classes
Closing Date: January 30, 2014
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
Group 1LA . . . . $73,366,933 SEQ 3.0% FIX 3137B7H77 October 15, 2040LF . . . . 71,877,173 PT (2) FLT 3137B7H85 January 15, 2044LS . . . . 71,877,173 NTL(PT) (2) INV/IO 3137B7HA0 January 15, 2044LY . . . . 22,469,299 SEQ 3.0 FIX 3137B7HB8 January 15, 2044
Group 2KF . . . . 42,045,493 PT (2) FLT/W/DLY 3137B7GN3 June 15, 2040KS . . . . 42,045,493 NTL(PT) (2) INV/W/IO/DLY 3137B7GY9 June 15, 2040
Group 3IK . . . . 787,330 SC/NTL(PT) 4.5 FIX/IO 3137B7GF0 July 15, 2032KA . . . . 2,754,770 SC/SUP 4.0 FIX 3137B7GH6 August 15, 2043KM . . . . 59,257,000 SC/PAC 4.0 FIX 3137B7GU7 August 15, 2043KN . . . . 2,496,000 SC/PAC 4.0 FIX 3137B7GV5 August 15, 2043KZ . . . . 1,000 SC/SUP 4.0 FIX/Z 3137B7H69 August 15, 2043
Group 4BA . . . . 14,082,123 PT (2) W/DLY 3137B7FP9 October 15, 2047
Group 5EJ . . . . 38,069,000 NTL(SEQ) (2) INV/IO/S/DLY 3137B7G94 December 15, 2038EK . . . . 38,069,000 NTL(SEQ) (2) FLT/IO/S/DLY 3137B7GA1 December 15, 2038EO . . . . 38,069,000 SEQ 0.0 PO 3137B7GB9 December 15, 2038EZ . . . . 7,762,291 SEQ 2.5 FIX/Z 3137B7GE3 January 15, 2044VC . . . . 2,334,000 AD/SEQ 2.5 FIX 3137B7 J S 9 August 15, 2024VD . . . . 5,428,291 SEQ 2.5 FIX 3137B7 J T 7 April 15, 2039
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
Group 6AA . . . . . . . . $ 10,000,000 SC/SUP/RTL 3.5% FIX 3137B7 F 6 1 December 15, 2041IM . . . . . . . . 1,983,760 SC/NTL(PT) 5.0 FIX/IO 3137B7GG8 June 15, 2038KT . . . . . . . . 113,000 SC/PAC 3.0 FIX 3137B7GZ6 December 15, 2041MH . . . . . . . . 125,423,000 SC/PAC 3.0 FIX 3137B7HJ1 December 15, 2041MO . . . . . . . . 2,792,009 SC/SUP 0.0 PO 3137B7HQ5 December 15, 2041MU . . . . . . . . 6,752,053 SC/SUP 3.5 FIX 3137B7HU6 December 15, 2041MZ . . . . . . . . 1,000 SC/SUP 3.0 FIX/Z 3137B7HX0 December 15, 2041YI . . . . . . . . 2,359,379 SC/NTL(PT) 4.0 FIX/IO 3137B7JW0 July 15, 2023
Group 7NZ . . . . . . . . 1,000 SC/SUP 3.5 FIX/Z 3137B7 J J 9 January 15, 2024ON . . . . . . . . 7,102,372 SC/PT 0.0 PO 3137B7JK6 January 15, 2024YA . . . . . . . . 79,287,000 SC/PAC 3.5 FIX 3137B7JU4 January 15, 2024YU . . . . . . . . 13,042,834 SC/TAC 3.5 FIX 3137B7JX8 January 15, 2024
Group 8UY . . . . . . . . 9,056,384 TAC 3.5 FIX 3137B7 J P 5 June 15, 2043YB . . . . . . . . 67,052,000 PAC 3.5 FIX 3137B7JV2 June 15, 2043ZK . . . . . . . . 5,000,000 SEQ 3.5 FIX/Z 3137B7JY6 June 15, 2043ZN . . . . . . . . 1,000 SUP 3.5 FIX/Z 3137B7 J Z 3 June 15, 2043
Group 9VA . . . . . . . . 19,124,000 SC/SEQ 2.5 FIX 3137B7JQ3 August 15, 2038VB . . . . . . . . 15,057,114 SC/SEQ 2.5 FIX 3137B7 J R 1 August 15, 2038
ResidualR . . . . . . . . 0 NPR 0.0 NPR 3137B7 J L 4 October 15, 2047RS . . . . . . . . 0 NPR 0.0 NPR 3137B7JN0 October 15, 2047
(1) See Appendix II to the Offering Circular.(2) See Terms Sheet — Interest.
The Certificates may not be suitable investments for you. You should not purchase Certificates unless you havecarefully considered and are able to bear the associated prepayment, interest rate, yield and market risks of investing inthem. Certain Risk Considerations on page S-2 highlights some of these risks.
You should purchase Certificates only if you have read and understood this Supplement, the attached Offering Circularand the documents identified under Available Information.
We guarantee principal and interest payments on the Certificates. These payments are not guaranteed by, and are notdebts or obligations of, the United States or any federal agency or instrumentality other than Freddie Mac. TheCertificates are not tax-exempt. Because of applicable securities law exemptions, we have not registered theCertificates with any federal or state securities commission. No securities commission has reviewed this Supplement.
Citigroup
December 17, 2013
Exhibit III — Series 4293 Front Cover and Terms Sheet
III-1
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to theremainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, “R” refersto the R Class of this Series.
Payment Dates
We make payments of principal and interest on the Certificates on each monthly Payment Datebeginning in March 2014 for KF and KS and February 2014 for the other Classes.
Form of Classes
Regular (non-Retail) and MACR Classes: Book-entry on Fed System
Retail Class: Book-entry on DTC System; issued and paid in $1,000 Retail Class Units
Residual Classes: Certificated
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover andAppendix A.
The following Classes are Principal Only Classes and do not bear interest:Group Class
5 EO6 MO7 ON
The following Floating Rate and Inverse Floating Rate Classes bear interest as shown in thefollowing table. The initial Class Coupons apply only to the first Accrual Period. We determineLIBOR using the BBA Method.
ClassInitial Class
Coupon Class Coupon FormulaClass Coupon Subject to
Minimum Rate Maximum Rate
Group 1LF . . . . . . . . . . . . . . . . . . . . . 0.7163% LIBOR + 0.55% 0.55% 6.5%LS . . . . . . . . . . . . . . . . . . . . . 5.7837 5.95% � LIBOR 0 5.95Group 5EJ* . . . . . . . . . . . . . . . . . . . . 2.5 132.0% � (LIBOR × 16.0) 0 2.5EK* . . . . . . . . . . . . . . . . . . . . 0.0 (LIBOR × 16.0) � 129.5% 0 2.5
* Delay Class.
The Weighted Average Coupon Classes bear interest as shown in the following table. The initialClass Coupons apply only to the first Accrual Period. The Class Coupons for KF and KS will varyfrom month to month, as the related Mortgages reduce at different rates, as the weighted averageinterest rate of the Group 2 Assets varies and as the level of LIBOR varies. The Class Coupon for BAwill vary from month to month, as the Group 4 Assets reduce at different rates. As used in the table,“WAC” means the weighted average interest rate of the Group 2 Assets for the related Payment Dateand “LIBOR” means one-month LIBOR. We determine LIBOR using the BBA Method.
III-2
ClassInitial Class
Coupon Class Coupon FormulaClass Coupon Subject to
Minimum Rate Maximum Rate
Group 2KF* . . . . . . 0.52% The lesser of (a) WAC and (b) LIBOR + 0.35% 0.35% N/AKS* . . . . . . 1.97342698 WAC � (LIBOR + 0.35%) 0 N/AGroup 4BA* . . . . . . 5.33119614 12 times (i) the aggregate amount of interest
required to be paid on the Group 4 Assets onthe related Payment Date, divided by (ii) theoutstanding principal balance of BAimmediately before that Payment Date
4.5 6.5%
* Delay Class.
See Appendix V to the Offering Circular and Payments — Interest.
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1LS $71,877,173 LF (PT)
Group 2KS $42,045,493 KF (PT)
Group 3IK $ 787,330 2682-LCKI(1) 26,336,444 KM (SC/PAC)
Group 5EJ $38,069,000 EO (SEQ)EK 38,069,000 EO (SEQ)
Group 6
IM⎧⎪⎨⎪⎩
$ 44,613 2594-YC and 3637-LJ, as a whole1,939,147 2510-AJ, 2690-PG, 3552-PC and 3628-A, as a whole
$ 1,983,760
MI(1) $41,807,666 MH (SC/PAC)
YI
⎧⎪⎨⎪⎪⎩
$ 118,587 3538-DE1,451,622 3575-A and 3575-EA, as a whole
789,170 3571-BA and 3584-AB, as a whole$ 2,359,379
Group 7AI(1) $45,306,857 YA (SC/PAC)NI(2) 83,622,285 YA (SC/PAC) and YB (PAC), as a whole
Group 8CI(1) $38,315,428 YB (PAC)
(1) MACR Class.(2) MACR Class formed from Classes in Groups 7 and 8.
See Payments — Interest — Notional Classes.
III-3
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
Pass-Through ⎧⎨⎩• 42.8571425164% of the Group 1 Asset Principal Amount to LF, until retired
SequentialPay ⎧⎨⎩
• 57.1428574836% of the Group 1 Asset Principal Amount to LA and LY, in that order,until retired
Group 2
Pass-Through ⎧⎨⎩• The Group 2 Asset Principal Amount to KF, until retired
Group 3
SC/Supportand Accrual ⎧⎨⎩• The KZ Accrual Amount to KA, until retired, and then to KZ
• The Group 3 Asset Principal Amount in the following order of priority:
SC/PAC ⎧⎨⎩ 1. To KM and KN, in that order, until reduced to their Aggregate Targeted Balance
SC/Support ⎧⎨⎩ 2. To KA and KZ, in that order, until retired
SC/PAC ⎧⎨⎩ 3. To KM and KN, in that order, until retired
Group 4
Pass-Through ⎧⎨⎩• The Group 4 Asset Principal Amount to BA, until retired
Group 5
SequentialPay andAccrual ⎧⎨⎩• The EZ Accrual Amount to VC and VD, in that order, until retired, and then to EZ
SequentialPay ⎧⎨⎩• The Group 5 Asset Principal Amount to EO, VC, VD and EZ, in that order, until retired
III-4
Group 6
SC/Supportand Accrual ⎧⎨⎩• The MZ Accrual Amount to AA, MO and MU, pro rata, until retired, and then to MZ
• The Group 6 Asset Principal Amount in the following order of priority:
SC/PAC ⎧⎨⎩ 1. To MH and KT, in that order, until reduced to their Aggregate Targeted Balance
SC/Support⎧⎪⎨⎪⎩
2. To AA, MO and MU, pro rata, until retired
3. To MZ, until retired
SC/PAC ⎧⎨⎩ 4. To MH and KT, in that order, until retired
Group 7
SC/TACand Accrual ⎧⎨⎩• The NZ Accrual Amount to YU, until reduced to its Targeted Balance, and then to NZ
• 92.8571427135% of the Group 7 Asset Principal Amount in the following order ofpriority:
SC/PAC ⎧⎨⎩ 1. To YA, until reduced to its Targeted Balance
SC/TAC ⎧⎨⎩ 2. To YU, until reduced to its Targeted Balance
SC/Support ⎧⎨⎩ 3. To NZ, until retired
SC/TAC ⎧⎨⎩ 4. To YU, until retired
SC/PAC ⎧⎨⎩ 5. To YA, until retired
SC/Pass-Through ⎧⎨⎩• 7.1428572865% of the Group 7 Asset Principal Amount to ON, until retired
Group 8
TAC andAccrual ⎧⎨⎩• The ZN Accrual Amount to UY, until reduced to its Targeted Balance, and then to ZN
• The ZK Accrual Amount and the Group 8 Asset Principal Amount in the following orderof priority:
PAC ⎧⎨⎩ 1. To YB, until reduced to its Targeted Balance
TAC ⎧⎨⎩ 2. To UY, until reduced to its Targeted Balance
Support ⎧⎨⎩ 3. To ZN, until retired
TAC ⎧⎨⎩ 4. To UY, until retired
III-5
PAC ⎧⎨⎩ 5. To YB, until retired
SequentialPay ⎧⎨⎩ 6. To ZK, until retired
Group 9
SC/SequentialPay ⎧⎨⎩• The Group 9 Asset Principal Amount to VA and VB, in that order, until retired
The “Aggregate Targeted Balances” and “Targeted Balances” are in Appendix B. They werecalculated using the following Structuring Ranges and Rates.
Structuring Range or Rate
Group 3PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140% PSA - 300% PSA
Group 6PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145% PSA - 275% PSA
Group 7PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184% PSA - 257% PSATAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800% PSA
Group 8PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184% PSA - 257% PSATAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800% PSA
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principalpayments, we allocate such payments from the applicable REMIC Certificates to those MACRCertificates, as described under MACR Certificates in the Offering Circular.
Retail Class
AA is a Retail Class. If you own the Retail Class, you will receive principal payments in $1,000Retail Class Units, as described in Appendix IV to the Offering Circular.
See Prepayment and Yield Analysis — Prepayment and Weighted Average Life Considerations —Retail Class.
REMIC Status
We will form an Upper-Tier REMIC Pool and a Lower-Tier REMIC Pool for this Series. We willelect to treat each REMIC Pool as a REMIC under the Code. R and RS will be “Residual Classes”and the other Classes shown on the front cover will be “Regular Classes.” The Residual Classes willbe subject to transfer restrictions. See Certain Federal Income Tax Consequences in this Supplementand the Offering Circular.
III-6
Weighted Average Lives (in years)(1)
Group 1PSA Prepayment Assumption
0% 100% 110% 250% 400%
LA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.3 6.4 6.0 3.0 1.9LF, LP, LS and Group 1 Assets . . . . . . . . . . . . . . . . . 19.9 9.7 9.2 5.3 3.4LY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.4 20.4 19.8 12.5 8.2
Group 2CPR Prepayment Assumption
0% 10% 15% 25% 30%
KF, KS and Group 2 Assets . . . . . . . . . . . . . . . . . . . . 12.4 6.3 4.8 3.1 2.6
Group 3PSA Prepayment Assumption
0% 140% 200% 300% 400%
IK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.0 2.3 1.8 1.2 0.9KA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.5 3.9 2.5 1.1 0.6KB, KC, KD, KE, KG, KH, KI, KJ, KL, KM, KP, KQ,
KU, KV, KW and KY . . . . . . . . . . . . . . . . . . . . . . 11.3 4.6 4.6 4.6 3.6KN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.9 17.3 17.3 17.3 13.6KZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.8 6.7 5.7 4.8 1.3Group 3 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.1 5.0 5.0 4.9 3.9
Group 4PSA Prepayment Assumption
0% 100% 250% 400% 500%
BA and Group 4 Assets . . . . . . . . . . . . . . . . . . . . . . . 15.5 9.3 5.2 3.4 2.7
Group 5PSA Prepayment Assumption
0% 100% 107% 250% 400%
EA, EJ, EK and EO . . . . . . . . . . . . . . . . . . . . . . . . . . 15.0 5.9 5.6 3.1 2.1EV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.3 11.6 11.3 7.3 5.1EY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.6 19.5 19.0 11.8 7.9EZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.7 21.2 20.8 13.9 9.6VC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.5 5.5 5.5 4.9 3.8VD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.5 14.3 13.9 8.3 5.6Group 5 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.6 9.8 9.5 5.6 3.8
(1) We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to differ from those shown, perhaps significantly.
III-7
Group 6PSA Prepayment Assumption
0% 145% 200% 275% 400%
AA(2), MO and MU . . . . . . . . . . . . . . . . . . . . . . . . . 23.7 14.6 7.6 1.1 0.3IM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.9 1.5 1.3 1.0 0.8KT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.0 16.0 16.0 16.0 11.5MA, MB, MC, MD, ME, MG, MH, MI, MJ, MK, ML,
MN, MP, MQ, MT, MW and MY . . . . . . . . . . . . . . 8.0 3.5 3.5 3.5 2.6MZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.5 22.3 19.7 11.8 0.7YI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.3 0.7 0.6 0.5 0.3Group 6 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.2 5.0 4.1 3.2 2.3
Group 7PSA Prepayment Assumption
0% 184% 220% 257% 500%
AB, AC, AD, AE, AG, AH, AI, AJ, AK, AL, AM, AN,AP, AQ, AT, AV and YA . . . . . . . . . . . . . . . . . . . 2.9 1.4 1.4 1.4 0.9
NA(3), NB(3), NC(3), ND(3), NE(3), NG(3), NH(3),NI(3), NJ(3), NK(3), NL(3), NM(3), NP(3), NQ(3),NT(3), NV(3) and NW(3) . . . . . . . . . . . . . . . . . . . 7.9 2.9 2.9 2.9 1.7
NU(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.8 7.2 4.0 1.5 0.3NZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.5 3.7 3.4 3.0 0.4ON and Group 7 Assets . . . . . . . . . . . . . . . . . . . . . . . 3.4 1.7 1.5 1.4 0.8YU . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.1 3.4 2.1 1.1 0.2
Group 8PSA Prepayment Assumption
0% 184% 220% 257% 500%
CB, CD, CE, CG, CH, CI, CJ, CK, CL, CM, CN, CP,CQ, CT, CV, CW and YB . . . . . . . . . . . . . . . . . . . 13.8 4.6 4.6 4.6 2.7
UY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.8 12.6 6.8 2.0 0.4ZK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.2 19.8 18.1 16.5 9.6ZN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.8 15.3 13.7 10.8 0.9Group 8 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.0 7.0 6.1 5.4 3.0
Group 9PSA Prepayment Assumption
0% 100% 104% 250% 400%
VA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.5 8.6 8.5 5.7 4.1VB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.2 14.0 13.8 8.0 5.4Group 9 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.6 11.0 10.8 6.7 4.7
(2) The weighted average lives for the Retail Class apply to that Class as a whole. The weighted average lives of Retail ClassUnits will vary among different investors.
(3) MACR Class formed from Classes in Groups 7 and 8.
III-8
The Assets
The Group 1, 4, 5 and 8 Assets (the “PC Assets”) consist of Freddie Mac PCs with the followingcharacteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
1(1) $167,713,405 30 4.5%4(2) 14,082,123 20, 30 and 40 (3)5 53,593,582 30 2.5%8 81,109,384 30 3.5%
(1) Backed by High LTV Mortgages. See General Information — The Mortgages.(2) Backed by approximately 1.16% 30-year FHA/VA Mortgages, approximately 38.59% Initial Interest Mortgages,
approximately 9.91% 40-year Mortgages, approximately 2.18% Relocation Mortgages, approximately 7.87% CooperativeShare Mortgages, approximately 4.07% Prepayment Penalty Mortgages, approximately 11.75% 30-year Newly OriginatedAssumable Mortgages, approximately 22.56% Super-Conforming Mortgages and approximately 1.90% 30-year AssumableMini-PCs. See General Information — The Mortgages.
(3) The interest rates on the Group 4 Assets range from 4.5% to 6.5%.
The Group 2 Assets (the “ARM Assets”) consist of $42,045,493.53 of 30-year Freddie MacARM PCs and ARM Giant PCs having the Pool Numbers and related Mortgage characteristics shownin Appendix C.
The ARM Assets are backed by 30-year, adjustable rate mortgages (“ARMs”). The ARMs hadfixed interest rates for their first three or five years, after which their interest rates and monthlypayment amounts adjust semi-annually or annually based on One-Year LIBOR, Six-Month LIBOR orthe One-Year Treasury Index, in each case as determined under the terms of the ARMs (“One-YearLIBOR,” “Six-Month LIBOR” or “One-Year Treasury,” respectively), plus a specified percentage,or margin. Generally, interest rates could increase or decrease up to 2.0% or 5.0% on their initialadjustment date and can increase or decrease up to 1.0% or 2.0% on each adjustment date thereafter,subject in each case to a lifetime ceiling, generally of approximately 5% or 6% above their initial fixedrate. Approximately 43.62% of the ARM Assets are backed by Initial Interest Mortgages that requirepayments of accrued interest (but do not require payments of principal) for up to three or ten yearsfollowing origination; however, the interest only periods have expired for approximately 91.07% ofsuch Initial Interest Mortgages. Approximately 1.95% of the ARM Assets are backed by ReducedServicing Fee Mortgages. See General Information — The Mortgages.
III-9
The Group 3, 6, 7 and 9 Assets (the “Multiclass Assets”) consist of:
Group Class
Percentage ofClass in
This SeriesBalance inThis Series
Class Factorfor Month ofClosing Date
ClassCoupon
Principal/Interest Type Final Payment Date
3 ⎧⎨⎩2682-LC 8.8738030458% $ 7,085,972 0.35269385 4.50% PAC/FIX(1) July 15, 20324239-AP 35.9080514659 57,422,798 0.94609313 4.00 PAC/FIX August 15, 2043
6
⎧⎪⎪⎪⎪⎪⎪⎪⎨⎪⎪⎪⎪⎪⎪⎪⎩
2510-AJ 11.074744582 1,189,157 0.12202742 5.00 SEQ/FIX(2) October 15, 20172594-YC(3) 8.4507042254 277,197 0.03079974 3.50 PAC/FIX(1) April 15, 20232690-PG 24.5362645991 2,636,673 0.26366732 5.00 PAC/FIX(1) April 15, 20323538-DE 2 948,696 0.13552811 3.50 SEQ/FIX July 15, 20233552-PC(4) 2.0780712672 169,864 0.84932150 5.00 SC/PAC/FIX(1) May 15, 20363571-BA 29.6214651532 1,896,382 0.04202073 4.50 SEQ/FIX April 15, 20233575-A 69.6864111498 1,889,069 0.03778139 4.00 SEQ/FIX November 15, 20223575-EA 46.875 3,917,421 0.05223229 4.00 SEQ/FIX May 15, 20233584-AB 3.2283436836 208,071 0.07566219 4.50 SEQ/FIX December 15, 20223628-A 7.5 852,174 0.05681160 5.00 SEQ/FIX June 15, 20383637-LJ(3) 2.4333333333 168,932 0.23141409 3.50 PT/FIX February 15, 20253647-BD 1.2119690012 263,701 0.21793547 3.00 GMC/SEQ/FIX December 15, 20193772-HC(3) 71.9707557927 42,407,791 0.28353394 3.00 PT/FIX October 15, 20184024-PC(3) 35.4299501665 88,255,934 0.67759395 3.00 PAC/FIX(1) December 15, 2041
7 3710-GL 100 99,433,206 0.22096268 3.25 PAC/FIX(1) January 15, 20249 4257-DV 100 34,181,114 0.99373697 2.50 SEQ/FIX August 15, 2038
(1) This Class now behaves as a Sequential Pay Class.(2) This Class now behaves as a Pass-Through Class.(3) MACR Class.(4) Backed by 3150-FA (a PAC/FLT Class), 3150-PO (a PAC/PO Class) and 3150-SA (a NTL(PAC)/INV/IO Class).
The Assets of this Series also include a $999.99 Retail Rounding Account, which we will use forprincipal payments on the Retail Class as described in Appendix IV to the Offering Circular.
We have agreed to sell the Group 1 Assets to the Underwriter for inclusion in this Series.
See General Information — Structure of Transaction.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
Mortgage Characteristics (as of January 1, 2014)
Group 1 and 5 Assets — Assumed Mortgage Characteristics
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
1 $167,713,405 327 28 4.915% 4.5%5 53,593,582 345 10 3.110 2.5
ARM Assets — Mortgage Characteristics
Appendix C lists certain characteristics of the Mortgages underlying the ARM Assets.
III-10
Multiclass Assets — Mortgage Characteristics
Group Series
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
3 ⎧⎨⎩2682 223 125 4.987% 4.5%4239 319 35 4.908 4.5
6
⎧⎪⎪⎪⎪⎪⎪⎪⎪⎨⎪⎪⎪⎪⎪⎪⎪⎪⎩
2510 40 135 5.641 5.02594 89 143 6.923 6.52690 223 125 5.322 5.03538 116 56 4.393 4.0
3552/3150 257 94 6.442 6.03571 118 54 4.874 4.5
3575 (A) 117 54 4.463 4.03575 (EA) 115 57 4.422 4.0
3584 120 52 4.871 4.53628 250 100 5.605 5.03637 63 111 5.447 5.03647 164 178 7.032 6.53772 50 125 4.562 4.04024 311 42 4.927 4.5
7 3710 130 43 4.407 4.09 4257 343 12 3.082 2.5
III-11
Group 4 and 8 Assets — Mortgage Characteristics
GroupPool
Number Principal Balance
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AverageRemaining Termto Amortization(in months)(1)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
4
⎧⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎨⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎩
B70797 $ 163,550.02 295 62 N/A 5.500% 5.000%H01724 213,186.00 283 77 44 6.804 6.000H02151 646,164.23 284 76 45 5.320 4.500H02169 484,536.39 286 74 47 5.375 4.500H02791 130,761.71 293 67 54 6.875 6.500H05071 367,384.46 280 80 41 5.375 4.500H09069 63,463.43 282 78 43 6.997 6.500H09084 150,350.64 280 80 41 6.107 5.500H09227 1,496,718.64 283 77 44 5.779 5.000H10194 31,942.97 284 76 105 6.595 6.000H11235 68,886.14 271 89 92 6.715 6.000H11257 111,951.80 280 80 101 5.927 5.000H15023 111,122.66 278 82 99 7.000 6.000H19015 608,966.40 279 81 100 6.083 5.500H19016 948,426.11 283 77 104 7.554 6.500K30027 240,004.22 393 87 N/A 5.676 5.000K30065 477,761.93 381 80 N/A 5.831 5.000K30078 465,867.62 401 79 N/A 5.788 5.000K30226 212,167.11 402 78 N/A 5.375 5.000L10306 632,319.23 316 44 N/A 6.000 5.500N30717 698.24 176 159 N/A 7.589 6.500N31198 50,151.85 119 112 N/A 5.617 5.000N31271 120,492.18 250 97 N/A 5.611 4.500N31328 35,015.95 255 89 N/A 6.431 6.000N31347 23,470.05 243 87 N/A 6.125 5.500N31403 39,756.38 277 79 N/A 5.875 5.000N31465 37,994.07 280 74 N/A 5.847 5.000N70077 1,108,678.39 204 123 N/A 5.967 5.500P20269 58,426.68 151 174 N/A 6.875 6.000P28000 126,226.26 239 113 N/A 6.208 5.500P50534 369,327.95 141 88 N/A 6.986 6.000P51371 19,744.66 252 107 N/A 5.946 5.500T30018 171,355.02 150 210 N/A 6.320 5.820T30150 630,890.70 279 78 N/A 5.990 5.490T30184 73,783.36 268 78 N/A 5.690 5.190T30377 271,823.65 282 75 N/A 6.150 5.650T30413 369,899.84 286 73 N/A 5.990 5.490T30426 137,153.24 278 76 N/A 6.150 5.650T60074 1,485,956.24 324 36 N/A 5.370 5.000T60099 1,057,975.98 318 42 N/A 5.875 5.500U30702 158,486.92 285 75 N/A 5.690 5.190U30807 109,284.18 287 72 N/A 6.100 5.600
$14,082,123.50 289(2) 75(2) 64(3) 5.972(2) 5.331(4)
8
⎧⎪⎨⎪⎪⎩
Q08442 $14,520,177.83 337 20 N/A 4.137 3.50Q09042 35,236,844.00 339 19 N/A 4.025 3.50Q17016 5,360,770.58 349 10 N/A 4.021 3.50Q18879 25,991,592.41 349 7 N/A 4.068 3.50
$81,109,384.82 343(2) 15(2) 4.059(2)
(1) Remaining term to amortization represents the number of months from January 2014 through and including the first month in which ascheduled principal payment will be required in accordance with the terms of the Mortgage.
(2) Weighted average of weighted averages by principal balance.(3) Weighted average of weighted averages by principal balance of the Initial Interest Mortgages.(4) Weighted average by principal balance.
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
III-12
Offering Circular Supplement(To Offering Circular
Dated June 1, 2010)
$1,065,773,735
Freddie MacMulticlass Certificates, Series 3760
Offered Classes: REMIC Classes shown below and MACR Classes shown on Appendix A
Offering Terms: The underwriter named below is offering the Classes in negotiated transactions at varying prices; wehave agreed to purchase all of BC and BI
Closing Date: November 29, 2010
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
Group 1DA . . . $219,553,000 SEQ 2.0% FIX 3137A2Q 87 June 15, 2028DI . . . 109,776,500 NTL(SEQ) 4.0 FIX/IO 3137A2QE4 June 15, 2028DQ . . . 55,447,000 SEQ 0.0 PO 3137A2QK0 November 15, 2030DV . . . 55,447,000 NTL(SEQ) (2) INV/IO/S/DLY 3137A2QL8 November 15, 2030DW . . . 55,447,000 NTL(SEQ) (2) FLT/IO/S/DLY 3137A2QM6 November 15, 2030
Group 2NB . . . 12,092,000 PAC 4.0 FIX 3137A2QP9 March 15, 2039ND . . . 100,240,000 PAC 2.0 FIX 3137A2QR5 October 15, 2037NI . . . 50,120,000 NTL(PAC) 4.0 FIX/IO 3137A2QV6 October 15, 2037NO . . . 15,345,000 PAC 0.0 PO 3137A2 R 2 9 November 15, 2040NV . . . 15,345,000 NTL(PAC) (2) INV/IO/S/DLY 3137A2 R 3 7 November 15, 2040NW . . . 15,345,000 NTL(PAC) (2) FLT/IO/S/DLY 3137A2 R 4 5 November 15, 2040UB . . . 372,568 SUP 4.0 FIX 3137A2 R 8 6 November 15, 2040UF . . . 25,156,667 SUP (2) FLT/DLY 3137A2 R 9 4 November 15, 2040UT . . . 2,387,659 SUP (2) INV/S/DLY 3137A2RA1 November 15, 2040UW . . . 4,244,727 SUP (2) INV/S/DLY 3137A2RB9 November 15, 2040UX . . . 4,000,000 SUP (2) INV/S/DLY 3137A2RC7 November 15, 2040UY . . . 1,945,946 SUP (2) INV/S/DLY 3137A2RD5 November 15, 2040
Group 3CB . . . 7,720,701 SEQ 3.5 FIX 3137A2Q 38 November 15, 2025CD . . . 110,000,000 SEQ 3.0 FIX 3137A2Q 46 May 15, 2025CG . . . 25,000,000 SEQ 3.5 FIX 3137A2Q 61 February 15, 2025CI . . . 15,714,285 NTL(SEQ) 3.5 FIX/IO 3137A2Q 79 May 15, 2025
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
Group 4BA . . . $ 75,000,000 GMC/SEQ 1.5% FIX 3137A2PV7 September 15, 2022BC . . . 1,452,600 SEQ 1.5 FIX 3137A2PW5 November 15, 2040BI . . . 60,069,900 NTL(PT) 7.0 FIX/IO 3137A2PX3 November 15, 2040BX(3) . . 75,000,000 SEQ 1.5 FIX 3137A2PY1 September 15, 2040
Group 5GB . . . 23,976,000 PAC 4.0 FIX 3137A2RM5 March 15, 2039GC . . . 30,641,000 PAC 4.0 FIX 3137A2RN3 November 15, 2040GI . . . 75,000,000 NTL(PAC) 4.0 FIX/IO 3137A2R P8 October 15, 2037NG . . . 200,000,000 PAC 2.5 FIX 3137A2XG1 October 15, 2037SW . . . 9,244,444 SUP (2) INV/S/DLY 3137A2 S 2 8 November 15, 2040TS . . . 2,244,382 SUP (2) INV/S/DLY 3137A2 S 3 6 November 15, 2040TY . . . 907,840 SUP (2) INV/S/DLY 3137A2 S 4 4 November 15, 2040WB . . . 706,000 SUP 4.0 FIX 3137A2 S 6 9 November 15, 2040WF . . . 50,193,334 SUP (2) FLT/DLY 3137A2 S 7 7 November 15, 2040WT . . . 5,200,000 SUP (2) INV/S/DLY 3137A2 S 9 3 November 15, 2040YS . . . 5,700,000 SUP (2) INV/S/DLY 3137A2SA0 November 15, 2040YT . . . 1,800,000 SUP (2) INV/S/DLY 3137A2S B8 November 15, 2040
Group 6KI . . . 42,973,066 NTL(PT) 3.5 FIX/IO 3137A2RX1 November 15, 2020KL . . . 75,202,867 PT 1.5 FIX 3137A2RZ6 November 15, 2020
ResidualR . . . 0 NPR 0.0 NPR 3137A2 R 5 2 November 15, 2040RA . . . 0 NPR 0.0 NPR 3137A2 R 6 0 September 15, 2022RS . . . 0 NPR 0.0 NPR 3137A2 R 7 8 November 15, 2040
(1) See Appendix II to the Offering Circular.(2) See Terms Sheet — Interest.(3) This Class backs the Guaranteed Maturity Class and will not be offered initially. See General Information — Structure of Transaction.
The Certificates may not be suitable investments for you. You should not purchase Certificates unless you have carefullyconsidered and are able to bear the associated prepayment, interest rate, yield and market risks of investing in them.Certain Risk Considerations on page S-2 highlights some of these risks.
You should purchase Certificates only if you have read and understood this Supplement, the attached Offering Circularand the documents identified under Available Information.
We guarantee principal and interest payments on the Certificates. These payments are not guaranteed by, and are not debtsor obligations of, the United States or any federal agency or instrumentality other than Freddie Mac. The Certificates arenot tax-exempt. Because of applicable securities law exemptions, we have not registered the Certificates with any federalor state securities commission. No securities commission has reviewed this Supplement.
Citi
October 22, 2010
Exhibit IV — Series 3760 Front Cover, Terms Sheet and MACR Table
IV-1
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to theremainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, “R” refers tothe R Class of this Series.
Payment Dates
We make payments of principal and interest on the Certificates on each monthly Payment Datebeginning in December 2010.
Form of Classes
Regular and MACR Classes: Book-entry on Fed System
Residual Classes: Certificated
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and Appendix A.
The following Classes are Principal Only Classes and do not bear interest:
Group Class
1 DQ2 NO
The Floating Rate and Inverse Floating Rate Classes bear interest as shown in the following table.The initial Class Coupons apply only to the first Accrual Period. We determine LIBOR using the BBAMethod.
ClassInitial Class
Coupon Class Coupon Formula Minimum Rate Maximum RateClass Coupon Subject to
Group 1DV(1) . . . . . . . . . . . . . . 4.0% 148.0% � (LIBOR � 16.0) 0% 4.0%DW(1) . . . . . . . . . . . . . 0.0 (LIBOR � 16.0) � 144.0% 0 4.0Group 2NV(1) . . . . . . . . . . . . . . 4.0 148.0% � (LIBOR � 16.0) 0 4.0NW(1) . . . . . . . . . . . . . 0.0 (LIBOR � 16.0) � 144.0% 0 4.0UF(1) . . . . . . . . . . . . . . 1.35625 LIBOR + 1.1% 1.1 6.0UT(1) . . . . . . . . . . . . . . 5.0 27.22222222% � (LIBOR � 5.55555556) 0 5.0UW(1) . . . . . . . . . . . . . 11.69921875 12.5% � (LIBOR � 3.125) 0 12.5UX(1) . . . . . . . . . . . . . . 11.13006757 11.89189189% � (LIBOR � 2.97297297) 0 11.89189189UY(1) . . . . . . . . . . . . . . 5.5 29.94444444% � (LIBOR � 6.11111111) 0 5.5Group 5SW(1). . . . . . . . . . . . . . 11.708 12.5% � (LIBOR � 3.125) 0 12.5TS(1) . . . . . . . . . . . . . . 10.52404494 11.23595506% � (LIBOR � 2.80898876) 0 11.23595506TY(1) . . . . . . . . . . . . . . 6.25 34.02777778% � (LIBOR � 6.94444444) 0 6.25WF(1). . . . . . . . . . . . . . 1.35344 LIBOR + 1.1% 1.1 6.0WS(1)(2). . . . . . . . . . . . 9.29312 9.8% � (LIBOR � 2.0) 0 9.8WT(1) . . . . . . . . . . . . . 5.0 27.22222222% � (LIBOR � 5.55555556) 0 5.0YS(1) . . . . . . . . . . . . . . 9.85936842 10.52631579% � (LIBOR � 2.63157895) 0 10.52631579YT(1) . . . . . . . . . . . . . . 7.5 40.83333333% � (LIBOR � 8.33333333) 0 7.5
(1) Delay Class.(2) MACR Class.
See Appendix V to the Offering Circular and Payments — Interest.
IV-2
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1DI $109,776,500 DA (SEQ)DV 55,447,000 DQ (SEQ)DW 55,447,000 DQ (SEQ)
Group 2NI $ 50,120,000 ND (PAC)NV 15,345,000 NO (PAC)NW 15,345,000 NO (PAC)
Group 3CI $ 15,714,285 CD (SEQ)
Group 4BI $ 60,069,900 Group 4 Assets
Group 5GI $ 75,000,000 NG (PAC)
Group 6KI $ 42,973,066 KL (PT)
See Payments — Interest — Notional Classes.
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
• The Group 1 Asset Principal Amount to DA and DQ, in that order, until retiredSequentialPay
Group 2
• The Group 2 Asset Principal Amount in the following order of priority:
1. To ND, NB and NO, in that order, until reduced to their Aggregate Targeted BalancePAC
2. To UF, UT, UW, UX and UY, pro rata, until retired
3. To UB, until retiredSupport
4. To ND, NB and NO, in that order, until retiredPAC
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1DI $109,776,500 DA (SEQ)DV 55,447,000 DQ (SEQ)DW 55,447,000 DQ (SEQ)
Group 2NI $ 50,120,000 ND (PAC)NV 15,345,000 NO (PAC)NW 15,345,000 NO (PAC)
Group 3CI $ 15,714,285 CD (SEQ)
Group 4BI $ 60,069,900 Group 4 Assets
Group 5GI $ 75,000,000 NG (PAC)
Group 6KI $ 42,973,066 KL (PT)
See Payments — Interest — Notional Classes.
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
• The Group 1 Asset Principal Amount to DA and DQ, in that order, until retired�����
SequentialPay
Group 2
• The Group 2 Asset Principal Amount in the following order of priority:
1. To ND, NB and NO, in that order, until reduced to their Aggregate Targeted Balance�����PAC
2. To UF, UT, UW, UX and UY, pro rata, until retired
3. To UB, until retired
���������������
Support
4. To ND, NB and NO, in that order, until retired�����PAC
IV-3
Group 3
• The Group 3 Asset Principal Amount in the following order of priority:
1. Concurrently, until CG is retired:
a. 80.962962963% to CD
b. 19.037037037% to CG
2. To CD and CB, in that order, until retired
SequentialPay
Group 4
• The Group 4 Asset Principal Amount to BX and BC, in that order, until retiredSequentialPay
•• On each Payment Date, principal payments allocated to BX, as described above, will bedistributed to BA, while outstanding
GMC/SequentialPay
Group 5
• The Group 5 Asset Principal Amount in the following order of priority:
1. To NG, GB and GC, in that order, until reduced to their Aggregate Targeted BalancePAC
2. To SW, TS, TY, WF, WT, YS and YT, pro rata, until retired
3. To WB, until retiredSupport
4. To NG, GB and GC, in that order, until retiredPAC
Group 6
• The Group 6 Asset Principal Amount to KL, until retiredPass-Through
The “Aggregate Targeted Balances” are in Appendix B. They were calculated using the followingStructuring Ranges.
Structuring Range
Group 2PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120% PSA - 250% PSA
Group 5PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120% PSA - 250% PSA
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principal payments,we allocate such payments from the applicable REMIC Certificates to those MACR Certificates, asdescribed under MACR Certificates in the Offering Circular.
REMIC Status
We will form an Upper-Tier REMIC Pool, a Lower-Tier REMIC Pool and a Guaranteed MaturityREMIC Pool for this Series. We will elect to treat each REMIC Pool as a REMIC under the Code. R, RAand RS will be “Residual Classes” and the other Classes shown on the front cover will be “Regular
Group 3
• The Group 3 Asset Principal Amount in the following order of priority:
1. Concurrently, until CG is retired:
a. 80.962962963% to CD
b. 19.037037037% to CG
2. To CD and CB, in that order, until retired
���������������������������������
SequentialPay
Group 4
• The Group 4 Asset Principal Amount to BX and BC, in that order, until retired�����
SequentialPay
•• On each Payment Date, principal payments allocated to BX, as described above, will bedistributed to BA, while outstanding
�����������
GMC/SequentialPay
Group 5
• The Group 5 Asset Principal Amount in the following order of priority:
1. To NG, GB and GC, in that order, until reduced to their Aggregate Targeted Balance�����PAC
2. To SW, TS, TY, WF, WT, YS and YT, pro rata, until retired
3. To WB, until retired
���������������
Support
4. To NG, GB and GC, in that order, until retired�����PAC
Group 6
• The Group 6 Asset Principal Amount to KL, until retired�����
Pass-Through
The “Aggregate Targeted Balances” are in Appendix B. They were calculated using the followingStructuring Ranges.
Structuring Range
Group 2PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120% PSA - 250% PSA
Group 5PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120% PSA - 250% PSA
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principal payments,we allocate such payments from the applicable REMIC Certificates to those MACR Certificates, asdescribed under MACR Certificates in the Offering Circular.
REMIC Status
We will form an Upper-Tier REMIC Pool, a Lower-Tier REMIC Pool and a Guaranteed MaturityREMIC Pool for this Series. We will elect to treat each REMIC Pool as a REMIC under the Code. R, RAand RS will be “Residual Classes” and the other Classes shown on the front cover will be “Regular
IV-4
Classes.” The Residual Classes will be subject to transfer restrictions. See Certain Federal Income TaxConsequences in this Supplement and the Offering Circular.
Weighted Average Lives (in years)*
Group 1
0% 100% 325% 500% 700%PSA Prepayment Assumption
DA, DC, DE, DG, DH, DI, DJ, DK, DL and DM . . 10.4 6.1 3.3 2.5 2.0DB, DQ, DV and DW . . . . . . . . . . . . . . . . . . . . . . . . 18.8 16.4 10.4 7.5 5.6Group 1 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.1 8.2 4.7 3.5 2.7
Group 2
0% 120% 200% 250% 400% 600%PSA Prepayment Assumption
NA, ND, NE, NH, NI, NJ, NK, NL,NM and NP . . . . . . . . . . . . . . . . . . . . . . . 14.7 5.0 5.0 5.0 3.7 2.8
NB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.3 12.0 12.0 12.0 8.0 5.5NC, NO, NV and NW . . . . . . . . . . . . . . . . . 25.9 17.9 17.9 17.9 12.3 8.3UB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.0 29.7 28.8 7.6 2.7 1.9UF, UT, UW, UX and UY . . . . . . . . . . . . . . 28.3 18.8 7.4 3.0 1.6 1.2Group 2 Assets. . . . . . . . . . . . . . . . . . . . . . . 19.6 9.9 7.3 6.2 4.4 3.1
Group 3
0% 100% 358% 600% 800%PSA Prepayment Assumption
CA, CD, CE and CI . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 6.0 3.5 2.6 2.1CB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.7 14.2 11.4 8.3 6.5CG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.1 5.8 3.3 2.4 2.0Group 3 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.6 6.4 3.9 2.8 2.3
Group 4
0% 100% 250% 428% 650% 900%PSA Prepayment Assumption
BA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.2 5.8 3.9 2.6 1.7 1.1BC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.9 13.6 13.1 11.4 8.5 5.9BI and Group 4 Assets . . . . . . . . . . . . . . . . . 21.3 6.0 4.1 2.8 1.8 1.2BX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.1 5.9 3.9 2.6 1.7 1.1
Group 5
0% 120% 200% 250% 400% 600%PSA Prepayment Assumption
GB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.3 12.0 12.0 12.0 8.0 5.5GC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.9 17.9 17.9 17.9 12.3 8.3GI and NG . . . . . . . . . . . . . . . . . . . . . . . . . . 14.7 5.0 5.0 5.0 3.7 2.8SW, TS, TY, WA, WF, WS, WT,
YS and YT . . . . . . . . . . . . . . . . . . . . . . . . 28.3 18.8 7.4 3.0 1.6 1.2WB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.0 29.7 28.9 7.6 2.7 1.9Group 5 Assets. . . . . . . . . . . . . . . . . . . . . . . 19.6 9.9 7.3 6.2 4.4 3.1
* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actual weightedaverage lives are likely to differ from those shown, perhaps significantly.
IV-5
Group 6
0% 100% 300% 477% 750% 1,000%PSA Prepayment Assumption
KA, KB, KC, KD, KE, KG, KH, KI, KJ,KL and Group 6 Assets . . . . . . . . . . . . . . 5.5 4.6 3.6 2.9 2.3 1.9
The Assets
The “Assets” consist of Freddie Mac PCs with the following characteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
1 $275,000,000 20 4.0%2 165,784,567 30 4.03 142,720,701 15 3.54 76,452,600 30 7.05 330,613,000 30 4.06 75,202,867 10 3.5
We have agreed to sell the Group 4 Assets to the Underwriter for inclusion in this Series.
See General Information — Structure of Transaction.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
Assumed Mortgage Characteristics (as of November 1, 2010)
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
1 $275,000,000 239 1 4.482% 4.0%2 165,784,567 358 2 4.610 4.03 142,720,701 178 2 4.050 3.54 76,452,600 165 176 7.560 7.05 330,613,000 358 2 4.610 4.06 75,202,867 119 1 3.910 3.5
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
IV-6
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IV-9
Offering Circular Supplement(To Offering Circular
Dated June 1, 2010)
$1,627,766,882
Freddie MacMulticlass Certificates, Series 3770
Offered Classes: REMIC Classes shown below and MACR Classes shown on Appendix AOffering Terms: The underwriter named below is offering the Classes in negotiated transactions at varying pricesClosing Date: December 30, 2010
REMIC ClassesOriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
Group 1CZ . . . . . . . . . . . . $ 10,000,346 SC/SUP 4.5% FIX/Z 3137A4KH9 May 15, 2040MA . . . . . . . . . . . . 18,777,000 SC/PAC 4.5 FIX 3137A4MC8 May 15, 2040VA . . . . . . . . . . . . 1,253,000 SC/AD/SUP 4.5 FIX 3137A4NP8 August 15, 2013VB . . . . . . . . . . . . 15,526,000 SC/SUP 4.5 FIX 3137A4NQ6 December 15, 2032
Group 2A . . . . . . . . . . . . 15,000,000 SEQ 3.5 FIX 3137A4 J V 0 June 15, 2029B . . . . . . . . . . . . 4,322,712 SEQ 3.5 FIX 3137A4 J Z 1 December 15, 2030D . . . . . . . . . . . . 15,000,000 SEQ 3.5 FIX 3137A4 K J 5 June 15, 2029
Group 3AV . . . . . . . . . . . . 2,230,000 AD/PAC I 4.0 FIX 3137A4 J Y 4 June 15, 2014BV . . . . . . . . . . . . 10,000,000 PAC I 4.0 FIX 3137A4 K4 8 December 15, 2025CH . . . . . . . . . . . . 47,163,788 PAC II 4.75 FIX 3137A4KB2 December 15, 2040EM . . . . . . . . . . . . 18,180,000 PAC I 4.0 FIX 3137A4LD7 April 15, 2039EZ . . . . . . . . . . . . 14,960,235 PAC I 4.0 FIX/Z 3137A4LG0 December 15, 2040JA . . . . . . . . . . . . 160,000,000 PAC I 2.6 FIX 3137A4M20 February 15, 2034JB . . . . . . . . . . . . 67,913,000 PAC I 4.0 FIX 3137A4M38 September 15, 2038JI . . . . . . . . . . . . 56,000,000 NTL(PAC I) 4.0 FIX/IO 3137A4M46 February 15, 2034JZ . . . . . . . . . . . . 13,030,173 PAC I 4.0 FIX/Z 3137A4M53 December 15, 2040PO . . . . . . . . . . . . 21,747,883 SUP 0.0 PO 3137A4MK0 December 15, 2040UA . . . . . . . . . . . . 104,725,000 PAC I 4.0 FIX 3137A4NA1 September 15, 2031UP . . . . . . . . . . . . 37,987,000 PAC I 4.0 FIX 3137A4NN3 May 15, 2035YL . . . . . . . . . . . . 33,238,000 PAC I 4.0 FIX 3137A4 P J 0 January 15, 2038Z . . . . . . . . . . . . 68,824,921 SUP 4.75 FIX/Z 3137A4 P L 5 December 15, 2040
Group 4FP . . . . . . . . . . . . 216,250,922 PAC (2) FLT 3137A4LH8 November 15, 2040PA . . . . . . . . . . . . 150,000,000 PAC 3.5 FIX 3137A4MH7 November 15, 2040PB . . . . . . . . . . . . 138,334,563 PAC 3.5 FIX 3137A4MJ3 November 15, 2040PY . . . . . . . . . . . . 4,318,515 PAC 5.0 FIX 3137A4ML8 December 15, 2040SP . . . . . . . . . . . . 216,250,922 NTL(PAC) (2) INV/IO 3137A4MS3 November 15, 2040ZB . . . . . . . . . . . . 111,096,000 SUP 5.0 FIX/Z 3137A4PM3 December 15, 2040
Group 5TA . . . . . . . . . . . . 26,500,000 SEQ 3.5 FIX 3137A4MT1 June 15, 2025
REMIC ClassesOriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
TB . . . . . . . . . . . . $ 3,368,000 SEQ 3.5% FIX 3137A4MU8 December 15, 2025TG . . . . . . . . . . . . 25,000,000 SEQ 3.0 FIX 3137A4MY0 June 15, 2025TY . . . . . . . . . . . . 12,500,000 SEQ 4.5 FIX 3137A4 N9 4 June 15, 2025
Group 6MJ . . . . . . . . . . . . 4,337,306 SUP 3.5 FIX 3137A4MD6 December 15, 2025MK . . . . . . . . . . . . 10,000,000 SCH 3.5 FIX 3137A4ME4 December 15, 2025
Group 7DB . . . . . . . . . . . . 14,305,032 SEQ 4.0 FIX 3137A4KL0 December 15, 2030DG . . . . . . . . . . . . 40,000,000 SEQ 3.0 FIX 3137A4KP1 September 15, 2027DI . . . . . . . . . . . . 10,000,000 NTL(SEQ) 4.0 FIX/IO 3137A4KR7 September 15, 2027WA . . . . . . . . . . . . 22,780,000 SEQ 4.0 FIX 3137A4 P 5 0 November 15, 2028WB . . . . . . . . . . . . 5,000,000 SEQ 4.0 FIX 3137A4 P 6 8 December 15, 2030
Group 8CP . . . . . . . . . . . . 94,626,297 PT (2) ARB 3137A4KF3 December 15, 2025IC . . . . . . . . . . . . 94,626,297 NTL(PT) 2.0 FIX/IO 3137A4 LT 2 December 15, 2012
Group 9KA . . . . . . . . . . . . 15,000,000 SEQ (2) ARB 3137A4M61 October 15, 2024KB . . . . . . . . . . . . 2,045,454 SEQ 4.0 FIX 3137A4M79 December 15, 2025KI . . . . . . . . . . . . 15,000,000 NTL(SEQ) 2.0 FIX/IO 3137A4M87 December 15, 2012
Group 10KV . . . . . . . . . . . . 4,875,000 SC/SEQ 5.0 FIX 3137A4M95 December 15, 2018LV . . . . . . . . . . . . 10,000,000 SC/SEQ 5.0 FIX 3137A4MB0 April 15, 2029QZ . . . . . . . . . . . . 10,000,000 SC/SEQ 5.0 FIX/Z 3137A4MP9 January 15, 2036
Group 11GA . . . . . . . . . . . . 27,250,000 SC/SEQ 4.5 FIX 3137A4 L J 4 October 15, 2040GI . . . . . . . . . . . . 2,678,738 SC/NTL(PT) 5.5 FIX/IO 3137A4LM7 April 15, 2031GZ . . . . . . . . . . . . 300,735 SC/SEQ 4.5 FIX/Z 3137A4LR6 October 15, 2040
ResidualR . . . . . . . . . . . . 0 NPR 0.0 NPR 3137A4MQ7 December 15, 2040RS . . . . . . . . . . . . 0 NPR 0.0 NPR 3137A4MR5 December 15, 2040
(1) See Appendix II to the Offering Circular.(2) See Terms Sheet — Interest.
The Certificates may not be suitable investments for you. You should not purchase Certificates unless you have carefullyconsidered and are able to bear the associated prepayment, interest rate, yield and market risks of investing in them.Certain Risk Considerations on page S-2 highlights some of these risks.
You should purchase Certificates only if you have read and understood this Supplement, the attached Offering Circularand the documents identified under Available Information.
We guarantee principal and interest payments on the Certificates. These payments are not guaranteed by, and are not debtsor obligations of, the United States or any federal agency or instrumentality other than Freddie Mac. The Certificates arenot tax-exempt. Because of applicable securities law exemptions, we have not registered the Certificates with any federalor state securities commission. No securities commission has reviewed this Supplement.
MORGAN STANLEY
November 16, 2010
Exhibit V — Series 3770 Front Cover, Terms Sheet and MACR Table
V-1
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to theremainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, “R” refers tothe R Class of this Series.
Payment Dates
We make payments of principal and interest on the Certificates on each monthly Payment Datebeginning in January 2011.
Form of Classes
Regular and MACR Classes: Book-entry on Fed System
Residual Classes: Certificated
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and Appendix A.
PO is a Principal Only Class and does not bear interest.
The Floating Rate and Inverse Floating Rate Classes bear interest as shown in the following table.The initial Class Coupons apply only to the first Accrual Period. We determine LIBOR using the BBAMethod.
ClassInitial Class
Coupon Class Coupon Formula Minimum Rate Maximum RateClass Coupon Subject to
FP . . . . . . . . . . . . . . . . . . . . . . . . . . 0.76063% LIBOR + 0.5% 0.5% 7.0%SP . . . . . . . . . . . . . . . . . . . . . . . . . . 6.23937 6.5% � LIBOR 0 6.5
The Ascending Rate Classes bear interest at the following Class Coupons:Group Class First 24 Accrual Periods Thereafter
8 CP 2.0% 4.0%9 KA 2.0 4.0
See Appendix V to the Offering Circular and Payments — Interest.
V-2
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1IL(1) $ 626,500 VA (SC/AD/SUP)IV(1) 8,389,500 VA and VB, as a whole (SC/SUP)VI(1) 7,763,000 VB (SC/SUP)
Group 3CI(1) $ 26,529,630 CH (PAC II)EI(1) 87,975,000 UA, UP and YL, as a whole (PAC I)ID(1) 20,773,750 YL (PAC I)IT(1) 23,741,875 UP (PAC I)JI 56,000,000 JA (PAC I)UI(1) 65,453,125 UA (PAC I)YI(1) 71,356,000 UA and UP, as a whole (PAC I)
Group 4SP $216,250,922 FP (PAC)
Group 7DI $ 10,000,000 DG (SEQ)
Group 8IC $ 94,626,297(2) CP (PT)
Group 9KI $ 15,000,000(2) KA (SEQ)
Group 10IK(1) $ 2,437,500 KV (SC/SEQ)LI(1) 5,000,000 LV (SC/SEQ)QI(1) 7,437,500 KV and LV, as a whole (SC/SEQ)
Group 11GI $ 2,678,738 Group 11 Assets (2602-UD)IG(1) 6,055,555 GA (SC/SEQ)
(1) MACR Class.(2) The Notional Principal Amount will be $0 after the Payment Date in December 2012.
See Payments — Interest — Notional Classes.
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
• The CZ Accrual Amount to VA and VB, in that order, until retired, and then to CZSC/ Supportand Accrual
• The Group 1 Asset Principal Amount in the following order of priority:
1. Beginning in October 2019, to MA, until reduced to its Targeted BalanceSC/PAC
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1IL(1) $ 626,500 VA (SC/AD/SUP)IV(1) 8,389,500 VA and VB, as a whole (SC/SUP)VI(1) 7,763,000 VB (SC/SUP)
Group 3CI(1) $ 26,529,630 CH (PAC II)EI(1) 87,975,000 UA, UP and YL, as a whole (PAC I)ID(1) 20,773,750 YL (PAC I)IT(1) 23,741,875 UP (PAC I)JI 56,000,000 JA (PAC I)UI(1) 65,453,125 UA (PAC I)YI(1) 71,356,000 UA and UP, as a whole (PAC I)
Group 4SP $216,250,922 FP (PAC)
Group 7DI $ 10,000,000 DG (SEQ)
Group 8IC $ 94,626,297(2) CP (PT)
Group 9KI $ 15,000,000(2) KA (SEQ)
Group 10IK(1) $ 2,437,500 KV (SC/SEQ)LI(1) 5,000,000 LV (SC/SEQ)QI(1) 7,437,500 KV and LV, as a whole (SC/SEQ)
Group 11GI $ 2,678,738 Group 11 Assets (2602-UD)IG(1) 6,055,555 GA (SC/SEQ)
(1) MACR Class.(2) The Notional Principal Amount will be $0 after the Payment Date in December 2012.
See Payments — Interest — Notional Classes.
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
• The CZ Accrual Amount to VA and VB, in that order, until retired, and then to CZ�����
SC/ Supportand Accrual
• The Group 1 Asset Principal Amount in the following order of priority:
1. Beginning in October 2019, to MA, until reduced to its Targeted Balance�����SC/PAC
V-3
2. To VA and VB, in that order, until retired
3. To CZ, until retiredSC/Support
4. To MA, until retiredSC/PAC
Group 2
• The Group 2 Asset Principal Amount in the following order of priority:
1. To A and D, pro rata, until retired
2. To B, until retired
SequentialPay
Group 3
• The EZ Accrual Amount to AV and BV, in that order, until retired, and then to EZType I PACand Accrual
• The JZ Accrual Amount to JA and JB, in that order, until retired, and then to JZType I PACand Accrual
• The Z Accrual Amount to CH, until reduced to its Targeted Balance, and then to ZType II PACand Accrual
• The Group 3 Asset Principal Amount in the following order of priority:
1. To the Type I PAC Classes, until reduced to their Aggregate Targeted Balance, allocatedconcurrently:
a. 52.1224844602% to JA, JB and JZ, in that order, while outstanding
b. 47.8775155398% to UA, UP, YL, EM, AV, BVand EZ, in that order, while outstanding
Type I PAC
2. Concurrently:
a. 84.2105262776% as follows:
i. To CH, until reduced to its Targeted BalanceType II PAC
ii. To Z, until retiredSupport
iii. To CH, until retiredType II PAC
b. 15.7894737224% to PO, until retiredSupport
3. To the Type I PAC Classes, as described in step 1. above, but without regard to theirAggregate Targeted Balance, until retired
Type I PAC
Group 4
• The ZB Accrual Amount and Group 4 Asset Principal Amount in the following order ofpriority:
1. To the PAC Classes, until reduced to their Aggregate Targeted Balance, allocated asfollows:
a. To FP, PA and PB, pro rata, while outstanding
b. To PY, while outstanding
PAC
2. To VA and VB, in that order, until retired
3. To CZ, until retired
���������������
SC/Support
4. To MA, until retired�����SC/PAC
Group 2
• The Group 2 Asset Principal Amount in the following order of priority:
1. To A and D, pro rata, until retired
2. To B, until retired
�������������������������
SequentialPay
Group 3
• The EZ Accrual Amount to AV and BV, in that order, until retired, and then to EZ�����
Type I PACand Accrual
• The JZ Accrual Amount to JA and JB, in that order, until retired, and then to JZ�����
Type I PACand Accrual
• The Z Accrual Amount to CH, until reduced to its Targeted Balance, and then to Z�����
Type II PACand Accrual
• The Group 3 Asset Principal Amount in the following order of priority:
1. To the Type I PAC Classes, until reduced to their Aggregate Targeted Balance, allocatedconcurrently:
a. 52.1224844602% to JA, JB and JZ, in that order, while outstanding
b. 47.8775155398% to UA, UP, YL, EM, AV, BVand EZ, in that order, while outstanding
�������������������������������
Type I PAC
2. Concurrently:
a. 84.2105262776% as follows:
i. To CH, until reduced to its Targeted Balance�����Type II PAC
ii. To Z, until retired�����Support
iii. To CH, until retired�����Type II PAC
b. 15.7894737224% to PO, until retired�����Support
3. To the Type I PAC Classes, as described in step 1. above, but without regard to theirAggregate Targeted Balance, until retired
�����������
Type I PAC
Group 4
• The ZB Accrual Amount and Group 4 Asset Principal Amount in the following order ofpriority:
1. To the PAC Classes, until reduced to their Aggregate Targeted Balance, allocated asfollows:
a. To FP, PA and PB, pro rata, while outstanding
b. To PY, while outstanding
�������������������������������
PAC
V-4
2. To ZB, until retiredSupport
3. To the PAC Classes, as described in step 1. above, but without regard to their AggregateTargeted Balance, until retired
PAC
Group 5
• The Group 5 Asset Principal Amount in the following order of priority:
1. To TA, TG and TY, pro rata, until retired
2. To TB, until retired
SequentialPay
Group 6
• The Group 6 Asset Principal Amount in the following order of priority:
1. Up to $1,000 per Payment Date to MJ, while outstandingSupport
2. Up to $90,250 per Payment Date to MK, while outstandingScheduled
3. To MJ, until retiredSupport
4. To MK, until retiredScheduled
Group 7
• 66.1570455379% of the Group 7 Asset Principal Amount to DG and DB, in that order, untilretired
• 33.8429544621% of the Group 7 Asset Principal Amount to WA and WB, in that order, untilretired
SequentialPay
Group 8
• The Group 8 Asset Principal Amount to CP, until retiredPass-Through
Group 9
• The Group 9 Asset Principal Amount to KA and KB, in that order, until retiredSequentialPay
Group 10
• The QZ Accrual Amount and the Group 10 Asset Principal Amount to KV, LVand QZ, in thatorder, until retired
SC/SequentialPay
Group 11
• The GZ Accrual Amount and the Group 11 Asset Principal Amount to GA and GZ, in thatorder, until retired
SC/SequentialPay
2. To ZB, until retired�����Support
3. To the PAC Classes, as described in step 1. above, but without regard to their AggregateTargeted Balance, until retired
�����������
PAC
Group 5
• The Group 5 Asset Principal Amount in the following order of priority:
1. To TA, TG and TY, pro rata, until retired
2. To TB, until retired
�������������������������
SequentialPay
Group 6
• The Group 6 Asset Principal Amount in the following order of priority:
1. Up to $1,000 per Payment Date to MJ, while outstanding�����Support
2. Up to $90,250 per Payment Date to MK, while outstanding�����Scheduled
3. To MJ, until retired�����Support
4. To MK, until retired�����Scheduled
Group 7
• 66.1570455379% of the Group 7 Asset Principal Amount to DG and DB, in that order, untilretired
• 33.8429544621% of the Group 7 Asset Principal Amount to WA and WB, in that order, untilretired
���������������������������
SequentialPay
Group 8
• The Group 8 Asset Principal Amount to CP, until retired�����
Pass-Through
Group 9
• The Group 9 Asset Principal Amount to KA and KB, in that order, until retired�����
SequentialPay
Group 10
• The QZ Accrual Amount and the Group 10 Asset Principal Amount to KV, LVand QZ, in thatorder, until retired
�����������
SC/SequentialPay
Group 11
• The GZ Accrual Amount and the Group 11 Asset Principal Amount to GA and GZ, in thatorder, until retired
�����������
SC/SequentialPay
V-5
The “Aggregate Targeted Balances” and “Targeted Balances” are in Appendix B. They werecalculated using the following Structuring Ranges.
Structuring Range
Group 1PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141% PSA - 350% PSA
Group 3Type I PAC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120% PSA - 250% PSAType II PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165% PSA - 250% PSA
Group 4PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 279% PSA - 449% PSA
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principal payments,we allocate such payments from the applicable REMIC Certificates to those MACR Certificates, asdescribed under MACR Certificates in the Offering Circular.
REMIC Status
We will form an Upper-Tier REMIC Pool and a Lower-Tier REMIC Pool for this Series. We willelect to treat each REMIC Pool as a REMIC under the Code. R and RS will be “Residual Classes” andthe other Classes shown on the front cover will be “Regular Classes.” The Residual Classes will besubject to transfer restrictions. See Certain Federal Income Tax Consequences in this Supplement and theOffering Circular.
Weighted Average Lives (in years)*
Group 1
0% 141% 250% 350% 500%PSA Prepayment Assumption
CV, DV, EV, GV, HV, IL and VA . . . . . . . . . . . . . . . 1.3 1.3 1.3 1.3 1.3CZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.2 13.7 11.6 7.9 5.6IV, VJ, VK, VL, VM, VN and VT . . . . . . . . . . . . . . 12.7 8.5 6.5 5.6 4.2MA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.8 11.5 11.5 11.5 8.2VB, VC, VD, VE, VG, VH and VI . . . . . . . . . . . . . 13.7 9.1 6.9 6.0 4.5Group 1 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.2 12.0 10.4 8.9 6.3
Group 2
0% 100% 233% 350% 500%PSA Prepayment Assumption
A and D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.9 6.7 4.5 3.5 2.7B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.2 17.5 14.1 11.2 8.6Group 2 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.9 8.1 5.7 4.4 3.5
* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actual weightedaverage lives are likely to differ from those shown, perhaps significantly.
V-6
Group 3
0% 120% 200% 250% 400%PSA Prepayment Assumption
AV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.8 1.8 1.8 1.8 1.8BV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.7 9.5 9.5 9.5 8.0CA, CB, CD, CE, CG, CH and CI . . . . . . . . . . . . . . 6.0 5.9 3.2 3.2 2.0DA, DC, DE, DH, DJ, DM, DN, DP, DT, DU,
ID and YL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.6 9.3 9.3 9.3 6.2EA, EB, EC, ED, EG, EH, EI, EJ, EK and EL . . . . 14.8 5.0 5.0 5.0 3.7EM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.4 12.0 12.0 12.0 8.0EN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.9 17.7 17.7 17.7 12.1EZ. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.9 17.9 17.9 17.9 12.8IT, TC, TD, TE, TH, TJ, TK, TL, TM, TN,
TP and UP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.6 6.8 6.8 6.8 4.7JA and JI. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.3 4.0 4.0 4.0 3.1JB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.6 10.7 10.7 10.7 7.3JZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.7 18.7 18.7 18.7 13.4PO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.4 18.8 7.6 3.0 1.6UA, UB, UC, UD, UE, UG, UH, UI, UJ, UK,
UM and UN . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.6 3.0 3.0 3.0 2.5YA, YB, YC, YD, YE, YG, YH, YI, YJ and YK . . . 13.0 4.0 4.0 4.0 3.1Z . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.4 19.2 10.5 2.8 1.3Group 3 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.6 9.8 7.2 6.2 4.3
Group 4
0% 100% 279% 350% 449% 700%PSA Prepayment Assumption
FP, PA, PB and SP . . . . . . . . . . . . . . . . . . . . 13.1 5.9 3.7 3.7 3.7 2.4PY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.6 17.5 17.5 17.5 17.5 10.9ZB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.2 19.2 11.5 6.4 1.4 0.6Group 4 Assets. . . . . . . . . . . . . . . . . . . . . . . 20.2 10.3 5.2 4.2 3.4 2.2
Group 5
0% 100% 276% 450% 600%PSA Prepayment Assumption
TA, TG and TY . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 6.0 4.1 3.1 2.5TB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.7 14.1 12.6 10.3 8.4Group 5 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.6 6.4 4.5 3.4 2.8
Group 6
0% 100% 294% 450% 600%PSA Prepayment Assumption
MJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.2 10.2 3.1 1.9 1.5MK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.6 4.8 5.0 4.2 3.5Group 6 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.6 6.5 4.4 3.5 2.9
Group 7
0% 100% 242% 350% 500%PSA Prepayment Assumption
BW . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.6 15.7 11.6 9.2 7.0DB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.4 15.4 11.2 8.9 6.8DG and DI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.8 5.5 3.5 2.8 2.2WA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.6 6.2 4.0 3.1 2.5WB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.9 16.6 12.6 10.1 7.7Group 7 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.1 8.1 5.5 4.4 3.4
V-7
Group 8
0% 100% 367% 600% 800%PSA Prepayment Assumption
CP and Group 8 Assets. . . . . . . . . . . . . . . . . . . . . . . . 8.7 6.5 4.0 2.9 2.4IC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9 1.8 1.7 1.7 1.6
Group 9
0% 100% 329% 500% 700%PSA Prepayment Assumption
KA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.9 5.6 3.4 2.7 2.2KB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.4 13.6 10.4 8.1 6.2KI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9 1.8 1.7 1.7 1.6Group 9 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.7 6.6 4.3 3.3 2.7
Group 10
0% 100% 335% 500% 700%PSA Prepayment Assumption
AK, BK, CK, DK, GK, IK and KV . . . . . . . . . . . . . 4.2 4.2 4.0 3.2 2.4AL, BL, CL, DL, GL, LI and LV . . . . . . . . . . . . . . . 13.5 11.0 7.0 4.8 3.4MV, NV, QI, QV, TV, WV and YV. . . . . . . . . . . . . . 10.5 8.8 6.0 4.3 3.0QZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.3 15.1 11.3 8.0 5.6Group 10 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.2 14.1 9.5 6.5 4.4
Group 11
0% 100% 350% 550% 700%PSA Prepayment Assumption
GA, GB, GC and IG . . . . . . . . . . . . . . . . . . . . . . . . . 11.5 6.5 4.8 3.8 2.9GI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.5 2.6 0.9 0.6 0.4GZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.5 19.7 19.6 17.7 13.8Group 11 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.9 6.8 5.1 4.0 3.0
The Assets
The Group 1, 10 and 11 Assets (the “Multiclass Assets”) consist of:
Group Class
Percentage ofClass in
This SeriesBalance inThis Series
Class Factorfor Month ofClosing Date
ClassCoupon
Principal/Interest Type Final Payment Date
1 3677-PB 31.2980830118% $45,556,346 1.00000000 4.5% PAC/FIX May 15, 2040
10
2762-LY 4.1078007089 1,750,000 1.00000000 5.0 PAC/FIX March 15, 20342836-YE* 4.7783787916 2,500,000 1.00000000 5.0 PAC/FIX August 15, 20342857-MG 73.9449886963 19,625,000 1.00000000 5.0 PAC/FIX September 15, 20343098-PG 2.9207985744 1,000,000 1.00000000 5.0 PAC/FIX January 15, 2036
11
2602-UD 33.5544553304 14,733,063 0.81281381 5.5 PAC/FIX April 15, 20313715-MA* 5.4589324512 4,734,301 0.94686023 4.5 PAC/FIX February 15, 20393715-PC 15.1402295356 1,992,000 1.00000000 4.5 PAC/FIX August 15, 20403738-QB 100 6,091,371 1.00000000 4.5 PAC/FIX October 15, 2040
* MACR Class.
Group 8
0% 100% 367% 600% 800%PSA Prepayment Assumption
CP and Group 8 Assets. . . . . . . . . . . . . . . . . . . . . . . . 8.7 6.5 4.0 2.9 2.4IC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9 1.8 1.7 1.7 1.6
Group 9
0% 100% 329% 500% 700%PSA Prepayment Assumption
KA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.9 5.6 3.4 2.7 2.2KB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.4 13.6 10.4 8.1 6.2KI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9 1.8 1.7 1.7 1.6Group 9 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.7 6.6 4.3 3.3 2.7
Group 10
0% 100% 335% 500% 700%PSA Prepayment Assumption
AK, BK, CK, DK, GK, IK and KV . . . . . . . . . . . . . 4.2 4.2 4.0 3.2 2.4AL, BL, CL, DL, GL, LI and LV . . . . . . . . . . . . . . . 13.5 11.0 7.0 4.8 3.4MV, NV, QI, QV, TV, WV and YV. . . . . . . . . . . . . . 10.5 8.8 6.0 4.3 3.0QZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.3 15.1 11.3 8.0 5.6Group 10 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.2 14.1 9.5 6.5 4.4
Group 11
0% 100% 350% 550% 700%PSA Prepayment Assumption
GA, GB, GC and IG . . . . . . . . . . . . . . . . . . . . . . . . . 11.5 6.5 4.8 3.8 2.9GI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.5 2.6 0.9 0.6 0.4GZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.5 19.7 19.6 17.7 13.8Group 11 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.9 6.8 5.1 4.0 3.0
The Assets
The Group 1, 10 and 11 Assets (the “Multiclass Assets”) consist of:
Group Class
Percentage ofClass in
This SeriesBalance inThis Series
Class Factorfor Month ofClosing Date
ClassCoupon
Principal/Interest Type Final Payment Date
1 3677-PB 31.2980830118% $45,556,346 1.00000000 4.5% PAC/FIX May 15, 2040
10
2762-LY 4.1078007089 1,750,000 1.00000000 5.0 PAC/FIX March 15, 20342836-YE* 4.7783787916 2,500,000 1.00000000 5.0 PAC/FIX August 15, 20342857-MG 73.9449886963 19,625,000 1.00000000 5.0 PAC/FIX September 15, 20343098-PG 2.9207985744 1,000,000 1.00000000 5.0 PAC/FIX January 15, 2036
�������������������
11
2602-UD 33.5544553304 14,733,063 0.81281381 5.5 PAC/FIX April 15, 20313715-MA* 5.4589324512 4,734,301 0.94686023 4.5 PAC/FIX February 15, 20393715-PC 15.1402295356 1,992,000 1.00000000 4.5 PAC/FIX August 15, 20403738-QB 100 6,091,371 1.00000000 4.5 PAC/FIX October 15, 2040
�������������������
* MACR Class.
V-8
The Group 2, 3, 4, 5, 6, 7, 8 and 9 Assets (the “PC Assets”) consist of Freddie Mac PCs with thefollowing characteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
2 $ 34,322,712 20 3.5%3 600,000,000 30 4.04 620,000,000 30 5.05 67,368,000 15 3.56 14,337,306 15 3.57 82,085,032 20 4.08 94,626,297 15 4.09 17,045,454 15 4.0
See General Information — Structure of Transaction and Exhibits I through VIII.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
Mortgage Characteristics (as of December 1, 2010)
Multiclass Assets — Mortgage Characteristics
Group Series
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
1 3677 352 6 5.311% 5.0%
10
2762 260 88 5.443 5.02836 271 79 5.465 5.02857 269 79 5.431 5.03098 290 62 5.600 5.0
112602 253 93 5.933 5.53715 278 73 5.956 5.53738 322 33 6.014 5.5
PC Assets — Assumed Mortgage Characteristics
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
2 $ 34,322,712 239 1 4.000% 3.5%3 600,000,000 356 3 4.550 4.04 620,000,000 340 13 5.410 5.05 67,368,000 177 2 4.000 3.56 14,337,306 179 1 3.870 3.57 82,085,032 237 2 4.400 4.08 94,626,297 179 1 4.343 4.09 17,045,454 180 0 4.310 4.0
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
The Group 2, 3, 4, 5, 6, 7, 8 and 9 Assets (the “PC Assets”) consist of Freddie Mac PCs with thefollowing characteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
2 $ 34,322,712 20 3.5%3 600,000,000 30 4.04 620,000,000 30 5.05 67,368,000 15 3.56 14,337,306 15 3.57 82,085,032 20 4.08 94,626,297 15 4.09 17,045,454 15 4.0
See General Information — Structure of Transaction and Exhibits I through VIII.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
Mortgage Characteristics (as of December 1, 2010)
Multiclass Assets — Mortgage Characteristics
Group Series
Weighted AverageRemaining Term
to Maturity(in months)
Weighted AverageLoan Age
(in months)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
1 3677 352 6 5.311% 5.0%
10
2762 260 88 5.443 5.02836 271 79 5.465 5.02857 269 79 5.431 5.03098 290 62 5.600 5.0
�������������������
112602 253 93 5.933 5.53715 278 73 5.956 5.53738 322 33 6.014 5.5
�������������
PC Assets — Assumed Mortgage Characteristics
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
2 $ 34,322,712 239 1 4.000% 3.5%3 600,000,000 356 3 4.550 4.04 620,000,000 340 13 5.410 5.05 67,368,000 177 2 4.000 3.56 14,337,306 179 1 3.870 3.57 82,085,032 237 2 4.400 4.08 94,626,297 179 1 4.343 4.09 17,045,454 180 0 4.310 4.0
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
V-9
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Exc
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are
cons
tant
prop
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nsof
the
orig
inal
bala
nces
ofth
eR
EM
ICC
lass
esor
MA
CR
Cla
sses
,as
appl
icab
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Inac
cord
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with
the
exch
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prop
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ns,y
oum
ayex
chan
geR
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rM
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The
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tapp
licab
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the
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edby
“N/A
.”Se
eA
ppen
dix
III
toth
eO
ffer
ing
Cir
cula
rfo
ra
desc
ript
ion
of“r
atio
-str
ippi
ng”
MA
CR
Cla
sses
ofth
isty
pe.
(2)
See
App
endi
xII
toth
eO
ffer
ing
Cir
cula
r.
V-12
Offering Circular Supplement(To Offering CircularDated June 1, 2010)
$421,162,653
Freddie MacMulticlass Certificates, Series 4159
Offered Classes: REMIC Classes shown below and MACR Classes shown on Appendix AOffering Terms: The underwriter named below is offering the Classes in negotiated transactions at varying
pricesClosing Date: January 31, 2013
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber Final Payment Date
Group 1NA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 49,087,000 PAC 2.0% FIX 3137AX X Y 4 July 15, 2042NF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,938,022 SUP (2) FLT/DLY 3137AX X Z 1 January 15, 2043NI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,817,400 NTL(PAC) 2.5 FIX/IO 3137AX Y 2 3 July 15, 2042NQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,135,000 SCH 2.5 FIX 3137AX Y 3 1 January 15, 2043NS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,938,022 SUP (2) INV/DLY 3137AX Y 4 9 January 15, 2043NY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,714,000 PAC 2.5 FIX 3137AX Y 6 4 January 15, 2043Group 2AF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,580,947 SC/PT (2) FLT 3137AXWN9 December 15, 2036Group 3FQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,310,853 PT (2) FLT 3137AXWR0 January 15, 2043SQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,310,853 NTL(PT) (2) INV/IO 3137AX Y B 3 January 15, 2043Group 4JA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49,049,915 SC/PT 1.25 FIX 3137AXWV1 December 15, 2031JI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,565,633 SC/NTL(PT) 4.0 FIX/IO 3137AX X 3 2 December 15, 2022Group 5FD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,457,424 PT (2) FLT 3137AX W P 4 January 15, 2043SD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,457,424 NTL(PT) (2) INV/W/IO 3137AX Y A 5 January 15, 2043Group 6JC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,130,000 PAC II 2.5 FIX 3137AXWW9 January 15, 2043KA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,279,000 PAC I 2.5 FIX 3137AX X C 2 September 15, 2041KB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,740,000 PAC I 2.5 FIX 3137AX X D 0 September 15, 2042KD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,475,000 PAC I 2.5 FIX 3137AX X F 5 January 15, 2043KF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,971,367 PT (2) FLT 3137AX X G 3 January 15, 2043KS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,971,367 NTL(PT) (2) INV/IO 3137AX X R 9 January 15, 2043UA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,380,000 SUP 2.5 FIX 3137AX Y C 1 August 15, 2041UB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,290,000 SUP 2.5 FIX 3137AX Y D 9 January 15, 2042UC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,090,000 SUP 2.5 FIX 3137AX Y E 7 June 15, 2042UD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,270,000 SUP 2.5 FIX 3137AX Y F 4 November 15, 2042UE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,260,104 SUP 2.5 FIX 3137AX Y G 2 January 15, 2043Group 7PO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,350,042 SC/PT/SUP 0.0 PO 3137AX Y 7 2 November 15, 2042UP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,400,167 SC/PT/SUP 2.5 FIX 3137AX Y J 6 November 15, 2042Group 8LJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,000,000 NTL(SEQ) (2) INV/IO/S/DLY 3137AX X T 5 February 15, 2040LK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,000,000 NTL(SEQ) (2) FLT/IO/S/DLY 3137AX X U 2 February 15, 2040LO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,000,000 SEQ 0.0 PO 3137AX X V 0 February 15, 2040LV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,157,895 SEQ 3.5 FIX 3137AXXW8 November 15, 2032LZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,157,895 SEQ 3.5 FIX/Z 3137AX X X 6 January 15, 2043ResidualR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 NPR 0.0 NPR 3137AX Y 8 0 January 15, 2043RS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 NPR 0.0 NPR 3137AX Y 9 8 January 15, 2043
(1) See Appendix II to the Offering Circular.(2) See Terms Sheet — Interest.
The Certificates may not be suitable investments for you. You should not purchase Certificates unless you havecarefully considered and are able to bear the associated prepayment, interest rate, yield and market risks ofinvesting in them. Certain Risk Considerations on page S-2 highlights some of these risks.You should purchase Certificates only if you have read and understood this Supplement, the attached OfferingCircular and the documents identified under Available Information.We guarantee principal and interest payments on the Certificates. These payments are not guaranteed by, andare not debts or obligations of, the United States or any federal agency or instrumentality other than FreddieMac. The Certificates are not tax-exempt. Because of applicable securities law exemptions, we have notregistered the Certificates with any federal or state securities commission. No securities commission hasreviewed this Supplement.
CitigroupJanuary 7, 2013
Exhibit VI — Series 4159 Front Cover, Terms Sheet and MACR Table
VI-1
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to theremainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, “R” refersto the R Class of this Series.
Payment Dates
We make payments of principal and interest on the Certificates on each monthly Payment Datebeginning in February 2013.
Form of Classes
Regular and MACR Classes: Book-entry on Fed System
Residual Classes: Certificated
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover andAppendix A.
The following Classes are Principal Only Classes and do not bear interest:Group Class
7 PO8 LO
The following Floating Rate and Inverse Floating Rate Classes bear interest as shown in thefollowing table. The initial Class Coupons apply only to the first Accrual Period. We determineLIBOR using the BBA Method.
ClassInitial Class
Coupon Class Coupon FormulaClass Coupon Subject to
Minimum Rate Maximum Rate
Group 1NF(1) . . . . . . . . . . . . . . . . . . . . . 1.14175% LIBOR + 0.9% 0.9% 5.0%NS(1) . . . . . . . . . . . . . . . . . . . . . 3.85825 4.1% � LIBOR 0 4.1Group 2AF . . . . . . . . . . . . . . . . . . . . . . . 1.3857 LIBOR + 1.18% 1.18 7.5Group 3FQ . . . . . . . . . . . . . . . . . . . . . . . 0.7057 LIBOR + 0.5% 0.5 6.0SQ . . . . . . . . . . . . . . . . . . . . . . . 5.2943 5.5% � LIBOR 0 5.5Group 5FD . . . . . . . . . . . . . . . . . . . . . . . 0.5557 LIBOR + 0.35% 0.35 6.5Group 6KF . . . . . . . . . . . . . . . . . . . . . . . 0.56 LIBOR + 0.35% 0.35 6.5KS . . . . . . . . . . . . . . . . . . . . . . . 5.94 6.15% � LIBOR 0 6.15Group 7FP(1)(2) . . . . . . . . . . . . . . . . . . . 1.15 LIBOR + 0.9% 0.9 5.0FS(1)(2) . . . . . . . . . . . . . . . . . . . 3.85 4.1% � LIBOR 0 4.1Group 8LJ(1) . . . . . . . . . . . . . . . . . . . . . . 3.5 103.5% � (LIBOR × 16.0) 0 3.5LK(1) . . . . . . . . . . . . . . . . . . . . . 0.0 (LIBOR × 16.0) � 100.0% 0 3.5
(1) Delay Class.(2) MACR Class.
VI-2
The Weighted Average Coupon Class bears interest as shown in the following table. The initialClass Coupon applies only to the first Accrual Period. The Class Coupon for the Weighted AverageCoupon Class will vary from month to month, as the weighted average interest rate of theGroup 5 Assets varies, as FD reduces and as the level of LIBOR varies.
ClassInitial Class
Coupon Class Coupon FormulaMinimum Class
Coupon
SD . . . . . . . 6.25594961% 12 times (a) the aggregate interest required to be paid onthe Group 5 Assets on the related Payment Date less theinterest paid to FD, divided by (b) the notional principalbalance of SD immediately before that Payment Date
0%
See Appendix V to the Offering Circular and Payments — Interest.
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1NI $ 9,817,400 NA (PAC)
Group 3SQ $ 18,310,853 FQ (PT)
Group 4JI $ 5,565,633 3573-KA and 3653-DL
Group 5SD $ 30,457,424 FD (PT)
Group 6IL* $ 21,976,714 KA (PAC I)IU* 1,602,857 KB (PAC I)KI* 23,579,571 KA and KB, as a whole (PAC I)KS 25,971,367 KF (PT)
Group 8LJ $102,000,000 LO (SEQ)LK 102,000,000 LO (SEQ)
* MACR Class.
See Payments — Interest — Notional Classes.
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
VI-3
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
• The Group 1 Asset Principal Amount in the following order of priority:
PAC ⎧⎨⎩ 1. To NA and NY, in that order, until reduced to their Aggregate Targeted Balance
Scheduled ⎧⎨⎩ 2. To NQ, until reduced to its Targeted Balance
Support ⎧⎨⎩ 3. To NF and NS, pro rata, until retired
Scheduled ⎧⎨⎩ 4. To NQ, until retired
PAC ⎧⎨⎩ 5. To NA and NY, in that order, until retired
Group 2
SC/Pass-Through ⎧⎨⎩• The Group 2 Asset Principal Amount to AF, until retired
Group 3
Pass-Through ⎧⎨⎩• The Group 3 Asset Principal Amount to FQ, until retired
Group 4
SC/Pass-Through ⎧⎨⎩• The Group 4 Asset Principal Amount to JA, until retired
Group 5
Pass-Through ⎧⎨⎩• The Group 5 Asset Principal Amount to FD, until retired
Group 6
Pass-Through ⎧⎨⎩• 24.9999992781% of the Group 6 Asset Principal Amount to KF, until retired
VI-4
• 75.0000007219% of the Group 6 Asset Principal Amount in the following order ofpriority:
Type I PAC ⎧⎨⎩1. To KA, KB and KD, in that order, until reduced to their Aggregate Targeted
Balance
Type II PAC ⎧⎨⎩ 2. To JC, until reduced to its Targeted Balance
Support ⎧⎨⎩ 3. To UA, UB, UC, UD and UE, in that order, until retired
Type II PAC ⎧⎨⎩ 4. To JC, until retired
Type I PAC ⎧⎨⎩ 5. To KA, KB and KD, in that order, until retired
Group 7
SC/Pass-Through/Support
⎧⎨⎩• The Group 7 Asset Principal Amount to PO and UP, pro rata, until retired
Group 8
SequentialPay andAccrual ⎧⎨⎩• The Accrual Amount to LV, until retired, and then to LZ
SequentialPay ⎧⎨⎩• The Group 8 Asset Principal Amount to LO, LV and LZ, in that order, until retired
The “Aggregate Targeted Balances” and “Targeted Balances” are in Appendix B. They werecalculated using the following Structuring Ranges.
Structuring Range
Group 1PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135% PSA - 300% PSAScheduled* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176% PSA - 300% PSA
Group 6Type I PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125% PSA - 300% PSAType II PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152% PSA - 301% PSA
* The initial Effective Range for this Class does not encompass the entire Structuring Range for this Class.
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principalpayments, we allocate such payments from the applicable REMIC Certificates to those MACRCertificates, as described under MACR Certificates in the Offering Circular.
VI-5
REMIC Status
We will form an Upper-Tier REMIC Pool and a Lower-Tier REMIC Pool for this Series. We willelect to treat each REMIC Pool as a REMIC under the Code. R and RS will be “Residual Classes”and the other Classes shown on the front cover will be “Regular Classes.” The Residual Classes willbe subject to transfer restrictions. See Certain Federal Income Tax Consequences in this Supplementand the Offering Circular.
Weighted Average Lives (in years)*
Group 1PSA Prepayment Assumption
0% 135% 220% 300% 500%
NA and NI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.1 5.7 5.7 5.7 3.9NF, NS and NU . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.6 19.9 10.3 2.7 1.2NQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.4 11.0 2.5 2.5 1.8NY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.5 20.0 20.0 20.0 13.0Group 1 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.6 8.9 6.6 5.3 3.5
Group 2PSA Prepayment Assumption
0% 100% 164% 300% 400%
AF and Group 2 Assets . . . . . . . . . . . . . . . . . . . . . . . 14.2 8.9 6.9 4.4 3.3
Group 3PSA Prepayment Assumption
0% 100% 164% 300% 400% 600%
FQ, SQ and Group 3 Assets . . . . . . . . . . . . . . 19.2 7.3 5.9 4.0 3.1 2.0
Group 4PSA Prepayment Assumption
0% 100% 379% 600% 800%
JA and Group 4 Assets . . . . . . . . . . . . . . . . . . . . . . . . 8.7 5.9 2.9 2.1 1.7JI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9 1.8 0.8 0.5 0.4
Group 5PSA Prepayment Assumption
0% 100% 164% 300% 400%
FD, SD and Group 5 Assets . . . . . . . . . . . . . . . . . . . . 20.2 7.1 5.8 3.9 3.1
* We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to differ from those shown, perhaps significantly.
VI-6
Group 6PSA Prepayment Assumption
0% 125% 200% 300% 400% 600%
IL, JD, JE, JG, JH, JK, JL and KA . . . . . . . . . 15.1 5.3 5.3 5.3 4.4 3.3IU, JM, JN, JP, JQ, JT, JU and KB . . . . . . . . . 24.9 14.9 14.9 14.9 11.7 7.9JC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.1 10.4 3.2 3.2 2.5 1.8KC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.1 16.7 16.7 16.7 13.2 9.0KD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.6 21.1 21.1 21.1 17.0 11.6KF, KS and Group 6 Assets . . . . . . . . . . . . . . 19.3 9.5 7.2 5.4 4.3 3.1KG, KH, KI, KJ, KL, KM, KN and KP . . . . . . 15.7 6.0 6.0 6.0 4.9 3.6UA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.6 15.7 5.0 1.6 1.2 0.8UB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.7 20.5 13.0 2.9 2.1 1.4UC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.2 22.7 16.0 3.6 2.3 1.6UD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.6 25.4 20.0 4.4 2.6 1.8UE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.9 28.1 25.5 5.8 2.9 1.9UK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.0 22.5 15.9 3.6 2.2 1.5
Group 7PSA Prepayment Assumption
0% 100% 399% 600% 800%
FP, FS, PO, UP and Group 7 Assets . . . . . . . . . . . . . . 27.7 22.6 1.7 1.1 0.9
Group 8PSA Prepayment Assumption
0% 100% 198% 300% 400%
LA, LJ, LK and LO . . . . . . . . . . . . . . . . . . . . . . . . . . 17.0 7.6 4.9 3.6 2.9LV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.1 10.9 9.2 7.5 6.2LZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.6 22.9 17.9 13.9 11.1Group 8 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.3 10.5 7.2 5.3 4.2
The Assets
The Group 1, 3, 5, 6 and 8 Assets (the “PC Assets”) consist of Freddie Mac PCs with thefollowing characteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
1(1) $ 67,812,044 30 2.5%3(2) 18,310,853 20 and 30 6.05(2)(3)(4) 30,457,424 20 and 30 Various6 103,885,471 30 3.58(5) 126,315,790 30 3.5
(1) Backed by Super-Conforming Mortgages. See General Information – The Mortgages.(2) Approximately 2.12% of the Group 3 Assets and approximately 0.13% of the Group 5 Assets are backed by Relocation
Mortgages. See General Information — The Mortgages.(3) Approximately 9.51% of the Group 5 Assets are backed by Prepayment Penalty Mortgages. See General Information —
The Mortgages.(4) Approximately 2.66% of the Group 5 Assets are backed by Initial Interest Mortgages that require payments of accrued
interest (but do not require payments of principal) for up to 10 years following origination. See General Information — TheMortgages.
(5) Backed by High LTV Mortgages. See General Information — The Mortgages.
VI-7
The Group 2, 4 and 7 Assets (the “Multiclass Assets”) consist of:
Group Class
Percentage ofClass in
This SeriesBalance inThis Series
Class Factorfor Month ofClosing Date
ClassCoupon
Principal/Interest Type Final Payment Date
2 ⎧⎨⎩3252-LF 100% $13,580,947 0.13580947 (1) PT/FLT/INV/T December 15, 20363252-SI 100 13,580,947 0.13580947 (1) NTL(PT)/FLT/IO/T December 15, 2036
4 ⎧⎨⎩
3573-KA 12.8398791541 2,841,565 0.19102962 4.0% SEQ/FIX December 15, 20223601-AX 100 1,592,428 0.03184856 1.25 SEQ/FIX April 15, 20243653-DL(2) 12.6295925081 5,253,902 0.22248158 4.0 SC/PT/FIX July 15, 20224146-DL(3) 60.0121543604 39,362,020 0.99650685 1.25 SEQ/FIX December 15, 2031
7 4135-AU(3)(4) 67.1637583093 11,750,209 0.99503258 2.0 SUP/FIX November 15, 2042
(1) See Exhibit I.(2) Backed by 3577-AD and 3577-AE (SEQ/FIX Classes).(3) MACR Class.(4) Approximately 47.86% of the mortgages underlying the Group 7 Assets are High LTV Mortgages. See General Information — The
Mortgages.
See General Information — Structure of Transaction and Exhibits I through VI.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
VI-8
Mortgage Characteristics (as of January 1, 2013)
PC Assets — Assumed Mortgage Characteristics
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Remaining Termto Amortization(in months)(1)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
1 $ 67,812,044 357 3 N/A 3.300% 2.5%
3
⎧⎪⎨⎪⎩
$ 3,555,64614,366,381
129235
106111
N/AN/A
6.4416.457
6.06.0
388,826(2) 170 177 N/A 6.527 6.0
$ 18,310,853 213(3) 111(3) 6.455(3)
5
⎧⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎨⎪⎪⎪⎪⎪⎪⎪⎪⎪⎪⎩
$ 2,834,5107,463,513
14,249,194948,998184,27355,9461,709
76,4471,327
219,522665,727
9,08064
2,174,211(4)723,404(4)40,083(2)
103243196242141152795515
1231097915
247253183
129110146110198195274299344111128149224104103172
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
6.8987.0137.5168.1248.5808.9659.730
10.27913.2547.4517.9368.5359.0006.9777.3087.160
6.56.57.07.58.08.59.09.5
12.07.07.58.08.56.56.56.5
809,416(5) 277 83 38 7.143 6.5
$ 30,457,424 204(3) 129(3) 7.326(3)
6 $103,885,471 352 2 N/A 4.090 3.58 $126,315,790 350 3 N/A 4.105 3.5
(1) Remaining term to amortization represents the number of months from January 1, 2013 through and including the firstmonth in which a scheduled principal payment will be required in accordance with the terms of the Mortgage.
(2) Relocation Mortgages.(3) Weighted average by principal balance.(4) Prepayment Penalty Mortgages.(5) Initial Interest Mortgages.
Multiclass Assets — Mortgage Characteristics
Group Series
Weighted AverageRemaining Termto Maturity (in
months)
Weighted AverageLoan Age (in
months)
Weighted AveragePer Annum
Interest Rate
Per AnnumInterest Rate
of Related PCs
2 3252 275 78 6.566% 6.0%
4⎧⎪⎨⎪⎩
3573 132 41 4.840 4.53601 13 166 6.596 6.0
3653/3577 132 41 4.451 4.04146 238 2 3.445 3.0
7 4135 351 2 4.053 3.5
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
VI-9
App
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VI-10
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the
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ade
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ptio
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sses
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App
endi
xII
toth
eO
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cula
r.(3
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VI-11
Offering Circular Supplement(To Offering Circular
Dated June 1, 2010)
$3,953,649,527
Freddie MacMulticlass Certificates, Series 4057
Offered Classes: REMIC Classes shown below and MACR Classes shown on Appendix A
Offering Terms: The underwriter named below is offering the Classes in negotiated transactions at varying prices
Closing Date: June 29, 2012
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
Group 1AB . . . . . $250,000,000 SEQ 1.5% FIX 3137ARGR1 January 15, 2039AC . . . . . 100,000,000 SEQ 2.4 FIX 3137AR G S 9 January 15, 2039AV . . . . . 43,486,000 SEQ 4.0 FIX 3137ARGU4 May 15, 2031VA . . . . . 64,755,000 AD/SEQ 4.0 FIX 3137ARKZ8 May 15, 2025WF . . . . . 13,325,715 SEQ (2) FLT 3137AR L J 3 January 15, 2039WS . . . . . 13,325,715 NTL(SEQ) (2) INV/IO 3137ARLM6 January 15, 2039YF . . . . . 298,009,142 SEQ (2) FLT 3137AR L S 3 January 15, 2039YS . . . . . 298,009,142 NTL(SEQ) (2) INV/IO 3137ARLX2 January 15, 2039ZA . . . . . 96,324,143 SEQ 4.0 FIX/Z 3137AR L Z 7 June 15, 2042Group 2AI . . . . . 20,748,107 NTL(SEQ) 4.0 FIX/IO 3137ARGT7 June 15, 2042BV . . . . . 30,410,000 SEQ 3.5 FIX 3137ARGZ3 April 15, 2031CA . . . . . 350,000,000 SEQ 2.25 FIX 3137AR H 4 1 April 15, 2039FW . . . . . 11,674,285 SEQ (2) FLT 3137ARHQ2 April 15, 2039FY . . . . . 230,990,858 SEQ (2) FLT 3137ARHR0 April 15, 2039SW . . . . . 11,674,285 NTL(SEQ) (2) INV/IO 3137AR K P 0 April 15, 2039SY . . . . . 230,990,858 NTL(SEQ) (2) INV/IO 3137ARKQ8 April 15, 2039VB . . . . . 49,485,000 AD/SEQ 3.5 FIX 3137AR L 2 0 June 15, 2025ZB . . . . . 86,089,857 SEQ 3.5 FIX/Z 3137ARM29 June 15, 2042Group 3CD . . . . . 10,000,000 SEQ 2.0 FIX 3137AR H 5 8 April 15, 2039CF . . . . . 35,226,666 SEQ (2) FLT 3137AR H 6 6 April 15, 2039CI . . . . . 11,215,000 NTL(SEQ) 4.0 FIX/IO 3137AR H 7 4 April 15, 2039CS . . . . . 35,226,666 NTL(SEQ) (2) INV/IO 3137AR H 8 2 April 15, 2039CT . . . . . 56,463,334 SEQ 2.0 FIX 3137AR H 9 0 April 15, 2039CV . . . . . 5,207,000 SEQ 3.5 FIX 3137ARHA7 April 15, 2031IC . . . . . 3,552,508 NTL(SEQ) 4.0 FIX/IO 3137AR J 3 1 June 15, 2042VC . . . . . 8,473,000 AD/SEQ 3.5 FIX 3137AR L 3 8 June 15, 2025ZC . . . . . 14,740,070 SEQ 3.5 FIX/Z 3137ARM37 June 15, 2042Group 4BF . . . . . 58,880,333 SEQ (2) FLT 3137ARGX8 September 15, 2039BS . . . . . 58,880,333 NTL(SEQ) (2) INV/IO 3137ARGY6 September 15, 2039DA . . . . . 117,760,667 SEQ 2.0 FIX 3137ARHB5 September 15, 2039LF . . . . . 88,571,428 PT (2) FLT 3137AR J N 7 June 15, 2042LS . . . . . 88,571,428 NTL(PT) (2) INV/IO 3137AR J P 2 June 15, 2042LV . . . . . 8,206,000 SEQ 3.5 FIX 3137AR J Q 0 April 15, 2031VL . . . . . 13,353,000 AD/SEQ 3.5 FIX 3137ARLA2 June 15, 2025ZL . . . . . 23,228,572 SEQ 3.5 FIX/Z 3137ARM52 June 15, 2042Group 5IQ . . . . . 44,123,605 NTL(PT) 3.0 FIX/IO 3137AR J 5 6 June 15, 2027QG . . . . . 102,790,000 SEQ 1.75 FIX 3137ARKA3 March 15, 2027QL . . . . . 3,106,652 SEQ 1.75 FIX 3137ARKC9 June 15, 2027Group 6GL . . . . . 6,830,139 SEQ 1.75 FIX 3137ARHT6 June 15, 2027GQ . . . . . 225,979,000 SEQ 1.75 FIX 3137ARHU3 March 15, 2027QI . . . . . 97,003,807 NTL(PT) 3.0 FIX/IO 3137ARKB1 June 15, 2027Group 7GA . . . . . 50,000,000 SEQ 1.75 FIX 3137AR H S 8 February 15, 2027
REMICClasses
OriginalBalance
PrincipalType(1)
ClassCoupon
InterestType(1)
CUSIPNumber
Final PaymentDate
GY . . . . . $ 2,061,000 SEQ 1.75% FIX 3137ARHV1 June 15, 2027IL . . . . . 89,817,120 NTL(PT) 3.0 FIX/IO 3137AR J 4 9 June 15, 2027QB . . . . . 158,157,000 SEQ 1.75 FIX 3137AR K 9 6 February 15, 2027YQ . . . . . 5,343,090 SEQ 1.75 FIX 3137ARLW4 June 15, 2027Group 8FJ . . . . . 16,485,728 PAC (2) FLT 3137ARHM1 June 15, 2042FK . . . . . 65,753,379 PT (2) FLT 3137ARHN9 June 15, 2042KA . . . . . 219,024,273 PAC 1.5 FIX 3137AR J 8 0 August 15, 2041KF . . . . . 125,156,727 PAC (2) FLT 3137AR J D 9 August 15, 2041KS . . . . . 125,156,727 NTL(PAC) (2) INV/IO 3137AR J K 3 August 15, 2041NA . . . . . 6,236,364 PAC 1.5 FIX 3137AR J T 4 December 15, 2041NF . . . . . 3,563,636 PAC (2) FLT 3137AR J Y 3 December 15, 2041NS . . . . . 3,563,636 NTL(PAC) (2) INV/IO 3137AR K 5 4 December 15, 2041NY . . . . . 14,200,272 PAC 3.5 FIX 3137AR K 7 0 June 15, 2042SJ . . . . . 16,485,728 NTL(PAC) (2) INV/IO 3137ARKL9 June 15, 2042SK . . . . . 65,753,379 NTL(PT) (2) INV/IO 3137ARKM7 June 15, 2042ZK . . . . . 85,000,000 SUP 3.65 FIX/Z 3137ARM45 June 15, 2042Group 9EA . . . . . 127,239,000 PAC I 2.0 FIX 3137ARHD1 December 15, 2041EF . . . . . 31,809,750 PAC I (2) FLT 3137ARHE9 December 15, 2041EL . . . . . 6,862,250 PAC I 3.0 FIX 3137AR H F6 June 15, 2042EM . . . . . 11,100,000 PAC II 3.0 FIX 3137ARHG4 June 15, 2042ES . . . . . 31,809,750 NTL(PAC I) (2) INV/IO 3137ARHH2 December 15, 2041FE . . . . . 164,886,985 PT (2) FLT 3137ARHL3 June 15, 2042HJ . . . . . 40,477,000 SUP 3.0 FIX 3137ARHY5 May 15, 2042HK . . . . . 2,361,315 SUP 3.0 FIX 3137ARHZ2 June 15, 2042SE . . . . . 164,886,985 NTL(PT) (2) INV/IO 3137ARKK1 June 15, 2042Group 10BA . . . . . 151,726,000 SEQ 3.5 FIX 3137ARGW0 June 15, 2038BZ . . . . . 17,713,000 SEQ 3.5 FIX/Z 3137AR H 3 3 June 15, 2042Group 11UA . . . . . 6,000,000 SEQ 2.0 FIX 3137ARKR6 May 15, 2027UB . . . . . 7,000,000 SEQ 1.5 FIX 3137AR K S4 May 15, 2027UC . . . . . 113,203,000 SEQ 1.75 FIX 3137ARKT2 May 15, 2027UI . . . . . 52,667,916 NTL(SEQ) 3.0 FIX/IO 3137ARKV7 May 15, 2027UY . . . . . 1,181,319 SEQ 3.0 FIX 3137ARKY1 June 15, 2027Group 12WI . . . . . 30,990,000 NTL(SEQ) 3.5 FIX/IO 3137ARLK0 December 15, 2026WM. . . . . 61,980,000 SEQ 1.75 FIX 3137AR L L 8 December 15, 2026WY. . . . . 3,262,578 SEQ 3.5 FIX 3137ARLN4 June 15, 2027Group 13YA . . . . . 42,500,000 PAC 2.75 FIX 3137AR L P 9 June 15, 2027YI . . . . . 4,375,000 NTL(PT) 3.0 FIX/IO 3137ARLU8 June 15, 2027YL . . . . . 10,000,000 SUP 2.75 FIX 3137AR LV 6 June 15, 2027ResidualR . . . . . 0 NPR 0.0 NPR 3137ARKE5 June 15, 2042RA . . . . . 0 NPR 0.0 NPR 3137AR K F2 June 15, 2042RS . . . . . 0 NPR 0.0 NPR 3137ARKG0 June 15, 2042RT . . . . . 0 NPR 0.0 NPR 3137ARKH8 June 15, 2042
(1) See Appendix II to the Offering Circular.(2) See Terms Sheet — Interest.
The Certificates may not be suitable investments for you. You should not purchase Certificates unless you have carefullyconsidered and are able to bear the associated prepayment, interest rate, yield and market risks of investing in them.Certain Risk Considerations on page S-2 highlights some of these risks.
You should purchase Certificates only if you have read and understood this Supplement, the attached Offering Circularand the documents identified under Available Information.
We guarantee principal and interest payments on the Certificates. These payments are not guaranteed by, and are not debtsor obligations of, the United States or any federal agency or instrumentality other than Freddie Mac. The Certificates arenot tax-exempt. Because of applicable securities law exemptions, we have not registered the Certificates with any federalor state securities commission. No securities commission has reviewed this Supplement.
Deutsche Bank SecuritiesMay 3, 2012
Exhibit VII — Series 4057 Front Cover and Terms Sheet
VII-1
TERMS SHEET
This Terms Sheet contains selected information about this Series. You should refer to theremainder of this Supplement for further information.
In this Supplement, we refer to Classes only by their letter designations. For example, “R” refers tothe R Class of this Series.
Payment Dates
We make payments of principal and interest on the Certificates on each monthly Payment Datebeginning in July 2012.
Form of Classes
Regular and MACR Classes: Book-entry on Fed System
Residual Classes: Certificated
Interest
The Fixed Rate Classes bear interest at the Class Coupons shown on the front cover and Appendix A.
VII-2
The Floating Rate and Inverse Floating Rate Classes bear interest as shown in the following table.The initial Class Coupons apply only to the first Accrual Period. We determine LIBOR using the BBAMethod.
ClassInitial Class
Coupon Class Coupon Formula Minimum Rate Maximum RateClass Coupon Subject to
Group 1FA(1) . . . . . . . . . . . . . . . . . . . . . . . . 0.69275% LIBOR + 0.45% 0.45% 6.5%SA(1) . . . . . . . . . . . . . . . . . . . . . . . . 5.80725 6.05% � LIBOR 0 6.05UF(1) . . . . . . . . . . . . . . . . . . . . . . . . 0.63975 LIBOR + 0.4% 0.4 7.0US(1) . . . . . . . . . . . . . . . . . . . . . . . . 6.36025 6.6% � LIBOR 0 6.6WF. . . . . . . . . . . . . . . . . . . . . . . . . . 0.63975 LIBOR + 0.4% 0.4 7.0WS. . . . . . . . . . . . . . . . . . . . . . . . . . 6.36025 6.6% � LIBOR 0 6.6YF . . . . . . . . . . . . . . . . . . . . . . . . . . 0.69275 LIBOR + 0.45% 0.45 6.5YS . . . . . . . . . . . . . . . . . . . . . . . . . . 5.80725 6.05% � LIBOR 0 6.05Group 2FW. . . . . . . . . . . . . . . . . . . . . . . . . . 0.63975 LIBOR + 0.4% 0.4 7.0FY . . . . . . . . . . . . . . . . . . . . . . . . . . 0.69275 LIBOR + 0.45% 0.45 6.5SW. . . . . . . . . . . . . . . . . . . . . . . . . . 6.36025 6.6% � LIBOR 0 6.6SY . . . . . . . . . . . . . . . . . . . . . . . . . . 5.80725 6.05% � LIBOR 0 6.05Group 3CF . . . . . . . . . . . . . . . . . . . . . . . . . . 0.68975 LIBOR + 0.45% 0.45 6.5CS . . . . . . . . . . . . . . . . . . . . . . . . . . 5.81025 6.05% � LIBOR 0 6.05Group 4BF . . . . . . . . . . . . . . . . . . . . . . . . . . 0.68975 LIBOR + 0.45% 0.45 6.5BS . . . . . . . . . . . . . . . . . . . . . . . . . . 5.81025 6.05% � LIBOR 0 6.05LF . . . . . . . . . . . . . . . . . . . . . . . . . . 0.68975 LIBOR + 0.45% 0.45 7.0LS . . . . . . . . . . . . . . . . . . . . . . . . . . 6.31025 6.55% � LIBOR 0 6.55Group 8FJ. . . . . . . . . . . . . . . . . . . . . . . . . . . 0.59 LIBOR + 0.35% 0.35 7.0FK . . . . . . . . . . . . . . . . . . . . . . . . . . 0.74 LIBOR + 0.5% 0.5 6.5FN(2) . . . . . . . . . . . . . . . . . . . . . . . . 0.59 LIBOR + 0.35% 0.35 7.0KF . . . . . . . . . . . . . . . . . . . . . . . . . . 0.59 LIBOR + 0.35% 0.35 7.0KS . . . . . . . . . . . . . . . . . . . . . . . . . . 6.41 6.65% � LIBOR 0 6.65NF . . . . . . . . . . . . . . . . . . . . . . . . . . 0.59 LIBOR + 0.35% 0.35 7.0NS . . . . . . . . . . . . . . . . . . . . . . . . . . 6.41 6.65% � LIBOR 0 6.65SJ. . . . . . . . . . . . . . . . . . . . . . . . . . . 6.41 6.65% � LIBOR 0 6.65SK . . . . . . . . . . . . . . . . . . . . . . . . . . 5.76 6.0% � LIBOR 0 6.0SN(2) . . . . . . . . . . . . . . . . . . . . . . . . 6.41 6.65% � LIBOR 0 6.65Group 9EF . . . . . . . . . . . . . . . . . . . . . . . . . . 0.59 LIBOR + 0.35% 0.35 7.0ES . . . . . . . . . . . . . . . . . . . . . . . . . . 6.41 6.65% � LIBOR 0 6.65FE . . . . . . . . . . . . . . . . . . . . . . . . . . 0.69 LIBOR + 0.45% 0.45 6.5SE . . . . . . . . . . . . . . . . . . . . . . . . . . 5.81 6.05% � LIBOR 0 6.05
(1) MACR Class formed from Classes in Groups 1 and 2.(2) MACR Class.
See Appendix V to the Offering Circular and Payments — Interest.
VII-3
Notional Classes
ClassOriginal NotionalPrincipal Amount Reduces Proportionately With
Group 1IV(1) $ 16,307,250 AV (SEQ)SA(2) 529,000,000 YF and FY, as a whole (SEQ)US(2) 25,000,000 WF and FW, as a whole (SEQ)VI(1) 40,471,875 VA (AD/SEQ)WS 13,325,715 WF (SEQ)YS 298,009,142 YF (SEQ)
Group 2AI $ 20,748,107 BV, VB and ZB, as a whole (SEQ)IB(3) 24,300,615 BV, CV, VB, VC, ZB and ZC, as a whole (SEQ)SW 11,674,285 FW (SEQ)SY 230,990,858 FY (SEQ)
Group 3CI $ 11,215,000 CD, CF and CT (SEQ)CS 35,226,666 CF (SEQ)IC 3,552,508 CV, VC and ZC, as a whole (SEQ)
Group 4BS $ 58,880,333 BF (SEQ)LS 88,571,428 LF (PT)
Group 5IQ $ 44,123,605 Group 5 Assets
Group 6QI $ 97,003,807 Group 6 Assets
Group 7IL $ 89,817,120 Group 7 Assets
Group 8KS $125,156,727 KF (PAC)NS 3,563,636 NF (PAC)SJ 16,485,728 FJ (PAC)SK 65,753,379 FK (PT)SN(1) 128,720,363 KF and NF, as a whole (PAC)
Group 9ES $ 31,809,750 EF (PAC I)SE 164,886,985 FE (PT)
Group 11UI $ 52,667,916 UA, UB and UC (SEQ)
Group 12WI $ 30,990,000 WM (SEQ)
Group 13IY(1) $ 19,318,181 YA (PAC)YI 4,375,000 Group 13 Assets
(1) MACR Class.(2) MACR Class formed from Classes in Groups 1 and 2.(3) MACR Class formed from Classes in Groups 2 and 3.
See Payments — Interest — Notional Classes.
MACR Classes
This Series includes MACR Classes. Appendix A shows the characteristics of the MACR Classesand the Combinations of REMIC and MACR Classes.
See Appendix III to the Offering Circular for a description of MACR Certificates and exchangeprocedures and fees.
VII-4
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
• The ZA Accrual Amount to VA and AV, in that order, until retired, and then to ZASequentialPay andAccrual
• The Group 1 Asset Principal Amount in the following order of priority:
1. To AB, AC, WF and YF, pro rata, until retired
2. To VA, AV and ZA, in that order, until retired
SequentialPay
Group 2
• The ZB Accrual Amount to VB and BV, in that order, until retired, and then to ZBSequentialPay andAccrual
• The Group 2 Asset Principal Amount in the following order of priority:
1. To CA, FW and FY, pro rata, until retired
2. To VB, BV and ZB, in that order, until retired
SequentialPay
Group 3
• The ZC Accrual Amount to VC and CV, in that order, until retired, and then to ZCSequentialPay andAccrual
• The Group 3 Asset Principal Amount in the following order of priority:
1. To CD, CF and CT, pro rata, until retired
2. To VC, CV and ZC, in that order, until retired
SequentialPay
Group 4
• The ZL Accrual Amount to VL and LV, in that order, until retired, and then to ZLSequentialPay andAccrual
• 71.4285716129% of the Group 4 Asset Principal Amount in the following order of priority:
1. To BF and DA, pro rata, until retired
2. To VL, LV and ZL, in that order, until retired
SequentialPay
• 28.5714283871% of the Group 4 Asset Principal Amount to LF, until retiredPass-Through
Group 5
• The Group 5 Asset Principal Amount to QG and QL, in that order, until retiredSequentialPay
Group 6
• The Group 6 Asset Principal Amount to GQ and GL, in that order, until retiredSequentialPay
Principal
REMIC Classes
On each Payment Date, we pay:
Group 1
• The ZA Accrual Amount to VA and AV, in that order, until retired, and then to ZA�����
SequentialPay andAccrual
• The Group 1 Asset Principal Amount in the following order of priority:
1. To AB, AC, WF and YF, pro rata, until retired
2. To VA, AV and ZA, in that order, until retired
�����������������������
SequentialPay
Group 2
• The ZB Accrual Amount to VB and BV, in that order, until retired, and then to ZB�����
SequentialPay andAccrual
• The Group 2 Asset Principal Amount in the following order of priority:
1. To CA, FW and FY, pro rata, until retired
2. To VB, BV and ZB, in that order, until retired
�����������������������
SequentialPay
Group 3
• The ZC Accrual Amount to VC and CV, in that order, until retired, and then to ZC�����
SequentialPay andAccrual
• The Group 3 Asset Principal Amount in the following order of priority:
1. To CD, CF and CT, pro rata, until retired
2. To VC, CV and ZC, in that order, until retired
�����������������������
SequentialPay
Group 4
• The ZL Accrual Amount to VL and LV, in that order, until retired, and then to ZL�����
SequentialPay andAccrual
• 71.4285716129% of the Group 4 Asset Principal Amount in the following order of priority:
1. To BF and DA, pro rata, until retired
2. To VL, LV and ZL, in that order, until retired
�����������������������
SequentialPay
• 28.5714283871% of the Group 4 Asset Principal Amount to LF, until retired�����
Pass-Through
Group 5
• The Group 5 Asset Principal Amount to QG and QL, in that order, until retired�����
SequentialPay
Group 6
• The Group 6 Asset Principal Amount to GQ and GL, in that order, until retired�����
SequentialPay
VII-5
Group 7
• 24.1513902161% of the Group 7 Asset Principal Amount to GA and GY, in that order, untilretired
• 75.8486097839% of the Group 7 Asset Principal Amount to QB and YQ, in that order, untilretired
SequentialPay
Group 8
• The ZK Accrual Amount and 87.7192984094% of the Group 8 Asset Principal Amount inthe following order of priority:
1. To the PAC Classes, until reduced to their Aggregate Targeted Balance, allocatedconcurrently:
a. 95.7142858628% in the following order of priority:
i. To KA and KF, pro rata, while outstanding
ii. To NA and NF, pro rata, while outstanding
iii. To NY, while outstanding
b. 4.2857141372% to FJ, while outstanding
PAC
2. To ZK, until retiredSupport
3. To the PAC Classes, as described in step 1 above, but without regard to their AggregateTargeted Balance, until retired
PAC
• 12.2807015906% of the Group 8 Asset Principal Amount to FK, until retiredPass-Through
Group 9
• 57.1428573285% of the Group 9 Asset Principal Amount in the following order of priority:
1. To the Type I PAC Classes, until reduced to their Aggregate Targeted Balance, allocatedas follows:
a. To EA and EF, pro rata, while outstanding
b. To EL, while outstanding
Type I PAC
2. To EM, until reduced to its Targeted BalanceType II PAC
3. To HJ and HK, in that order, until retiredSupport
4. To EM, until retiredType II PAC
5. To the Type I PAC Classes, as described in step 1 above, but without regard to theirAggregate Targeted Balance, until retired
Type I PAC
• 42.8571426715% of the Group 9 Asset Principal Amount to FE, until retiredPass-Through
Group 7
• 24.1513902161% of the Group 7 Asset Principal Amount to GA and GY, in that order, untilretired
• 75.8486097839% of the Group 7 Asset Principal Amount to QB and YQ, in that order, untilretired
�����������������������������
SequentialPay
Group 8
• The ZK Accrual Amount and 87.7192984094% of the Group 8 Asset Principal Amount inthe following order of priority:
1. To the PAC Classes, until reduced to their Aggregate Targeted Balance, allocatedconcurrently:
a. 95.7142858628% in the following order of priority:
i. To KA and KF, pro rata, while outstanding
ii. To NA and NF, pro rata, while outstanding
iii. To NY, while outstanding
b. 4.2857141372% to FJ, while outstanding
���������������������������������������������������������������
PAC
2. To ZK, until retired�����Support
3. To the PAC Classes, as described in step 1 above, but without regard to their AggregateTargeted Balance, until retired
�����������
PAC
• 12.2807015906% of the Group 8 Asset Principal Amount to FK, until retired�����
Pass-Through
Group 9
• 57.1428573285% of the Group 9 Asset Principal Amount in the following order of priority:
1. To the Type I PAC Classes, until reduced to their Aggregate Targeted Balance, allocatedas follows:
a. To EA and EF, pro rata, while outstanding
b. To EL, while outstanding
�������������������������������
Type I PAC
2. To EM, until reduced to its Targeted Balance�����Type II PAC
3. To HJ and HK, in that order, until retired�����Support
4. To EM, until retired�����Type II PAC
5. To the Type I PAC Classes, as described in step 1 above, but without regard to theirAggregate Targeted Balance, until retired
�����������
Type I PAC
• 42.8571426715% of the Group 9 Asset Principal Amount to FE, until retired�����
Pass-Through
VII-6
Group 10
• The BZ Accrual Amount and the Group 10 Asset Principal Amount to BA and BZ, in thatorder, until retired
SequentialPay
Group 11
• The Group 11 Asset Principal Amount in the following order of priority:
1. To UA, UB and UC, pro rata, until retired
2. To UY, until retired
SequentialPay
Group 12
• The Group 12 Asset Principal Amount to WM and WY, in that order, until retiredSequentialPay
Group 13
• The Group 13 Asset Principal Amount in the following order of priority:
1. To YA, until reduced to its Targeted BalancePAC
2. To YL, until retiredSupport
3. To YA, until retiredPAC
The “Aggregate Targeted Balances” and “Targeted Balances” are in Appendix B. They werecalculated using the following Structuring Ranges.
Structuring Range
Group 8PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125% PSA - 250% PSA
Group 9Type I PAC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA - 312% PSAType II PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177% PSA - 312% PSA
Group 13PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100% PSA - 250% PSA
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principal payments,we allocate such payments from the applicable REMIC Certificates to those MACR Certificates, asdescribed under MACR Certificates in the Offering Circular.
REMIC Status
We will form two Upper-Tier REMIC Pools and two Lower-Tier REMIC Pools for this Series. Wewill elect to treat each REMIC Pool as a REMIC under the Code. R, RA, RS and RT will be “ResidualClasses” and the other Classes shown on the front cover will be “Regular Classes.” The ResidualClasses will be subject to transfer restrictions. See Certain Federal Income Tax Consequences in thisSupplement and the Offering Circular.
Group 10
• The BZ Accrual Amount and the Group 10 Asset Principal Amount to BA and BZ, in thatorder, until retired
�����������
SequentialPay
Group 11
• The Group 11 Asset Principal Amount in the following order of priority:
1. To UA, UB and UC, pro rata, until retired
2. To UY, until retired
�������������������������
SequentialPay
Group 12
• The Group 12 Asset Principal Amount to WM and WY, in that order, until retired�����
SequentialPay
Group 13
• The Group 13 Asset Principal Amount in the following order of priority:
1. To YA, until reduced to its Targeted Balance�����PAC
2. To YL, until retired�����Support
3. To YA, until retired�����PAC
The “Aggregate Targeted Balances” and “Targeted Balances” are in Appendix B. They werecalculated using the following Structuring Ranges.
Structuring Range
Group 8PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125% PSA - 250% PSA
Group 9Type I PAC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150% PSA - 312% PSAType II PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 177% PSA - 312% PSA
Group 13PAC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100% PSA - 250% PSA
See Payments — Principal and Prepayment and Yield Analysis.
MACR Classes
On each Payment Date when any outstanding MACR Certificates are entitled to principal payments,we allocate such payments from the applicable REMIC Certificates to those MACR Certificates, asdescribed under MACR Certificates in the Offering Circular.
REMIC Status
We will form two Upper-Tier REMIC Pools and two Lower-Tier REMIC Pools for this Series. Wewill elect to treat each REMIC Pool as a REMIC under the Code. R, RA, RS and RT will be “ResidualClasses” and the other Classes shown on the front cover will be “Regular Classes.” The ResidualClasses will be subject to transfer restrictions. See Certain Federal Income Tax Consequences in thisSupplement and the Offering Circular.
VII-7
Weighted Average Lives (in years)(1)
Group 1
0% 100% 150% 300% 400%PSA Prepayment Assumption
AB, AC, WF, WS, YF and YS . . . . . . . . . . . . . . . . . 16.9 7.3 5.6 3.5 2.8AV, IV, KV, NV, UV and YV . . . . . . . . . . . . . . . . . . 16.0 15.6 13.5 8.7 7.0AY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.3 22.0 18.7 11.8 9.2FA(2) and SA(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.0 7.4 5.7 3.5 2.9UF(2) and US(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.0 7.4 5.7 3.5 2.9VA, VE, VG, VH, VI, VJ, VK, VM, VN, VP, VU,
VW and VY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.0 7.0 7.0 5.8 5.0ZA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.3 22.4 19.7 13.4 10.7Group 1 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.6 10.7 8.7 5.4 4.3
Group 2
0% 100% 150% 300% 400%PSA Prepayment Assumption
AI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.5 22.4 19.1 12.1 9.5BV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.0 15.8 13.9 8.9 7.1BY(3) and IB(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.5 22.4 19.1 12.1 9.5CA, FW, FY, SW and SY . . . . . . . . . . . . . . . . . . . . . 17.1 7.5 5.8 3.6 2.9DV(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.0 15.8 13.9 8.9 7.1VB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.0 7.0 7.0 5.9 5.1ZB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.5 22.6 19.9 13.5 10.7Group 2 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.6 10.7 8.7 5.4 4.3
Group 3
0% 100% 150% 300% 400%PSA Prepayment Assumption
CD, CF, CI, CS and CT . . . . . . . . . . . . . . . . . . . . . . 17.1 7.5 5.8 3.6 2.9CV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.0 15.8 13.9 8.9 7.1IC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.5 22.4 19.1 12.1 9.5VC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.0 7.0 7.0 5.9 5.1ZC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.5 22.7 19.9 13.5 10.8Group 3 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.6 10.7 8.7 5.4 4.3
Group 4
0% 100% 201% 350% 500%PSA Prepayment Assumption
BF, BS and DA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.7 7.5 4.8 3.2 2.5LF, LS, LW and Group 4 Assets . . . . . . . . . . . . . . . . 19.9 10.4 7.1 4.7 3.6LV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.0 15.8 11.9 8.1 6.1LY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.6 21.8 16.2 10.8 7.8VL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.0 7.0 6.9 5.6 4.5ZL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.6 22.0 17.2 12.1 8.9
Group 5
0% 100% 200% 300% 400% 600%PSA Prepayment Assumption
IQ and Group 5 Assets. . . . . . . . . . . . . . . . . 8.5 6.3 5.1 4.3 3.7 2.8QA(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 6.1 4.9 4.0 3.4 2.6QG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 6.1 4.9 4.0 3.4 2.6QL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.8 14.4 13.9 13.0 11.8 9.3QY(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.8 14.3 13.8 13.0 11.7 9.2
(1) We calculate weighted average lives based on the assumptions described in Prepayment and Yield Analysis. The actualweighted average lives are likely to differ from those shown, perhaps significantly.
(2) MACR Class formed from Classes in Groups 1 and 2.(3) MACR Class formed from Classes in Groups 2 and 3.(4) MACR Class formed from Classes in Groups 5, 6 and 7.
VII-8
Group 6
0% 100% 200% 300% 400% 600%PSA Prepayment Assumption
GL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.8 14.4 13.9 13.0 11.8 9.3GQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 6.1 4.9 4.0 3.4 2.6QI and Group 6 Assets. . . . . . . . . . . . . . . . . 8.5 6.3 5.1 4.3 3.7 2.8
Group 7
0% 100% 200% 300% 400% 600%PSA Prepayment Assumption
GA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 6.0 4.8 4.0 3.4 2.6GY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.8 14.2 13.6 12.7 11.4 8.9IL and Group 7 Assets . . . . . . . . . . . . . . . . . 8.5 6.4 5.2 4.3 3.7 2.9QB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.3 6.1 4.9 4.0 3.4 2.7YQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.8 14.3 13.8 12.9 11.7 9.2
Group 8
0% 125% 200% 250% 500%PSA Prepayment Assumption
FJ and SJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.0 6.6 6.6 6.6 3.8FK, KW, SK and Group 8 Assets . . . . . . . . . . . . . . . 19.6 9.3 6.9 5.9 3.3FN, NB, NC, ND, NE, NG, NJ, NK, NM and SN . . 13.6 6.0 6.0 6.0 3.4KA, KB, KC, KD, KE, KF, KG, KJ, KM,
KP and KS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.4 5.7 5.7 5.7 3.3KL, NA, NF and NS . . . . . . . . . . . . . . . . . . . . . . . . . 22.4 16.8 16.8 16.8 9.0NY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.5 21.6 21.6 21.6 12.3ZK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.8 18.2 8.2 2.4 0.9
Group 9
0% 150% 215% 312% 500% 700%PSA Prepayment Assumption
EA, EF, ES and EW. . . . . . . . . . . . . . . . . . . 16.8 5.0 5.0 5.0 3.4 2.5EL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.3 18.5 18.5 18.5 12.1 8.4EM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.9 9.4 2.5 2.5 1.4 1.0FE, SE, WE and Group 9 Assets . . . . . . . . . 19.9 8.2 6.4 4.7 3.1 2.2HB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.7 18.1 10.6 2.0 0.8 0.5HE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.3 16.3 8.9 2.1 0.9 0.6HJ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.6 17.6 9.7 1.8 0.8 0.5HK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.9 27.7 25.6 4.9 1.5 1.0
Group 10
0% 100% 200% 350% 500%PSA Prepayment Assumption
BA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.0 7.9 5.3 3.6 2.8BZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.1 22.9 17.7 12.2 9.0Group 10 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.3 10.6 7.2 4.8 3.6
Group 11
0% 100% 250% 423% 650% 900%PSA Prepayment Assumption
UA, UB, UC and UI . . . . . . . . . . . . . . . . . . 8.5 6.0 4.4 3.2 2.4 1.8UY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.0 14.3 14.0 12.8 10.1 7.4Group 11 Assets. . . . . . . . . . . . . . . . . . . . . . 8.5 6.1 4.5 3.3 2.4 1.9
VII-9
Group 12
0% 100% 300% 454% 750% 1,000%PSA Prepayment Assumption
WI and WM. . . . . . . . . . . . . . . . . . . . . . . . 8.3 5.9 3.8 2.9 2.1 1.7WY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.8 14.0 12.2 10.1 6.8 5.1Group 12 Assets. . . . . . . . . . . . . . . . . . . . . 8.6 6.3 4.2 3.3 2.3 1.9
Group 13
0% 100% 200% 250% 500%PSA Prepayment Assumption
IY, YA, YB, YD and YG . . . . . . . . . . . . . . . . . . . . . 7.3 5.1 5.1 5.1 3.5YI and Group 3 Assets . . . . . . . . . . . . . . . . . . . . . . . 8.5 6.2 5.0 4.6 3.1YL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.9 11.1 4.8 2.4 1.1
The Assets
The “Assets” consist of Freddie Mac PCs with the following characteristics:
Group Principal BalanceOriginal Term
(in years) Interest Rate
1(1) $865,900,000 30 4.0%2(1) 758,650,000 30 4.03(1) 130,110,070 30 4.04(1) 310,000,000 30 4.55(1) 105,896,652 15 3.06 232,809,139 15 3.07 215,561,090 15 3.08 535,420,379 30 4.09 384,736,300 30 4.510(2) 169,439,000 30 3.511 127,384,319 15 3.012 65,242,578 15 3.513 52,500,000 15 3.0
(1) Backed by High LTV Mortgages. See General Information — The Mortgages.(2) Backed by Super-Conforming Mortgages. See General Information — The Mortgages.
See General Information — Structure of Transaction.
We will publish a Supplemental Statement applicable to this Series shortly after the Closing Date.The Supplemental Statement will contain a schedule of the Assets and other information. See AvailableInformation.
VII-10
Assumed Mortgage Characteristics (as of June 1, 2012)
Group Principal Balance
Remaining Termto Maturity(in months)
Loan Age(in months)
Per AnnumInterest Rate
Per AnnumInterest Rate
of Related PCs
1 $865,900,000 356 2 4.50% 4.0%2 758,650,000 356 2 4.50 4.03 130,110,070 356 2 4.50 4.04 310,000,000 334 3 4.83 4.55 105,896,652 177 2 3.55 3.06 232,809,139 177 2 3.55 3.07 215,561,090 177 1 3.55 3.08 535,420,379 349 8 4.51 4.09 384,736,300 346 12 4.90 4.510 169,439,000 357 2 4.02 3.511 127,384,319 173 6 3.40 3.012 65,242,578 176 4 4.11 3.513 52,500,000 175 4 3.55 3.0
The actual characteristics of the Mortgages differ from those shown, in some cases significantly.
See General Information — The Mortgages.
VII-11
If you intend to purchase Certificates, you shouldrely only on the information in this Supplementand the Offering Circular, including theinformation in the Incorporated Documents. Wehave not authorized anyone to provide you withdifferent information.
This Supplement, the Offering Circular and theIncorporated Documents may not be correctafter their dates.
We are not offering the Certificates in anyjurisdiction that prohibits their offer.
TABLE OF CONTENTSDescription Page
Offering Circular SupplementCertain Risk Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-2Terms Sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-3Available Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-14General Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-14
The Trust Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-14Form of Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-15Denominations of Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-15Structure of Transaction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-15The Mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-16
Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-17Payment Dates; Record Dates . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-17Method of Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-17Categories of Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-17Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-17Principal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-19Class Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-19Guarantees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-201% Clean-up Call . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-20Residual Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-20
Prepayment and Yield Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-20General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-20Prepayment and Weighted Average Life Considerations . . . . . . . . . S-23Declining Balances Table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-26Yield Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-34
Final Payment Dates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-37Certain Federal Income Tax Consequences . . . . . . . . . . . . . . . . . . . . . . S-37
General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-37Regular Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-37Residual Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-38MACR Classes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-39Foreign Account Tax Compliance Act . . . . . . . . . . . . . . . . . . . . . . S-39
ERISA Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-40Accounting Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-40Legal Investment Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-40Plan of Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-40Legal Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-40Appendix A — Available Combinations — Series 4318 . . . . . . . . . . . . . A-1Appendix B — ARM Assets — Mortgage Characteristics (as of
March 1, 2014) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B-1Exhibit I — Series 4276 Front Cover and Terms Sheet . . . . . . . . . . . . . . I-1Exhibit II — Series 4299 Front Cover and Terms Sheet . . . . . . . . . . . . . II-1Exhibit III — Series 4293 Front Cover and Terms Sheet . . . . . . . . . . . . . III-1Exhibit IV — Series 3760 Front Cover, Terms Sheet and
MACR Table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IV-1Exhibit V — Series 3770 Front Cover, Terms Sheet and
MACR Table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . V-1Exhibit VI — Series 4159 Front Cover, Terms Sheet and
MACR Table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . VI-1Exhibit VII — Series 4057 Front Cover and Terms Sheet . . . . . . . . . . . . VII-1
Offering CircularFreddie Mac . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Additional Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13Application of Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Description of Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20MACR Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33Prepayment, Yield and Suitability Considerations . . . . . . . . . . . . . . . . . . 33The Trust Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40Certain Federal Income Tax Consequences . . . . . . . . . . . . . . . . . . . . . . 44ERISA Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60Accounting Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61Legal Investment Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61Plan of Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61Increase in Size . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62Appendix I — Index of Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I-1Appendix II — Standard Definitions and Abbreviations for Classes . . . . . II-1Appendix III — MACR Certificate Exchanges . . . . . . . . . . . . . . . . . . . . III-1Appendix IV — Retail Class Principal Payments . . . . . . . . . . . . . . . . . . IV-1Appendix V — Interest Rate Indices . . . . . . . . . . . . . . . . . . . . . . . . . . . V-1
$601,064,890
Freddie Mac
Multiclass Certificates,Series 4318
Citigroup
February 25, 2014