Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation	$ 5,327	$ 5,534
Securities purchased under agreements to resell	71,919	100,118
Investment securities, at fair value	85,412	55,771
Mortgage loans held-for-sale	1,014	15,560
Mortgage loans held-for-investment, net	3,290,066	3,172,329
Accrued interest receivable	12,254	11,029
Deferred tax assets, net	5,040	5,018
Other Assets	26,566	21,333
Total assets	3,497,598	3,386,692
Liabilities
Accrued interest payable	10,597	9,822
Debt issued by consolidated trusts	3,198,008	3,122,941
Short-term Debt	37,718	14,675
Long-term Debt Carrying Amount	169,296	167,333
Other Liabilities	11,595	12,346
Total liabilities	3,427,214	3,327,117
Equity
Senior Preferred Stock	72,648	72,648
Preferred stock, at redemption value	14,109	14,109
Common Stock, Value, Issued	0	0
Retained earnings	(12,539)	(23,270)
AOCI, net of taxes	51	(27)
Treasury Stock, Value	(3,885)	(3,885)
Total equity	70,384	59,575
Total liabilities and equity	3,497,598	3,386,692
Held by consolidated trusts
Assets
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation	1,136	1,056
Securities purchased under agreements to resell	19,107	12,764
Investment securities, at fair value	34	1
Mortgage loans held-for-investment, net	3,198,847	3,114,937
Accrued interest receivable	10,825	9,900
Other Assets	8,573	5,881
Total assets	3,238,522	3,144,539
Liabilities
Accrued interest payable	9,312	8,469
Debt issued by consolidated trusts	3,198,008	3,122,941
Total liabilities	$ 3,207,320	$ 3,131,410