Refer to p. 6 of the 2020 Annual Report (p. 10 of the PDF). Freddie Mac achieves its mission by guaranteeing the performance of mortgage-backed securities (MBS). In 2018, about $7 trillion of outstanding single-family U.S. residential mortgages were packaged into MBS. Based on data from Freddie Mac's "single-family credit guarantee portfolio" in 2018, what fraction of the $7 trillion in MBS-packaged U.S. residential mortgages did Freddie Mac guarantee? Note: Keep in mind that the "single-family credit guarantee portfolio" consists of both the single-family loans Freddie Mac originated after 2008, to which it refers as "Core," and the segregated portfolio of single-family loans originated in or prior to 2008, and relief refinance loans used for non-standard loans. A ($1,550 billion $346 billion) / $7,000 billion = 0.27 or 27% B $2,133 billion / $7,000 billion = 0.30 or 30% C ($1,550 billion $346 billion) / $2,133 billion = 0.89 or 89% D $2,133 billion / $2,133 billion = 1.00 or 100%