Mortgage Loans Held for Portfolio (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Participating Mortgage Loans

The following table presents information as of March 31, 2020, and December 31, 2019, on mortgage loans, all of which are secured by one- to four-unit residential properties and single-unit second homes.



	March 31, 2020			December 31, 2019
Fixed rate medium-term mortgage loans	$	29		$	27
Fixed rate long-term mortgage loans	3,150			3,199
Subtotal	3,179			3,226
Unamortized premiums	66			91
Unamortized discounts	(3		)	(3		)
Mortgage loans held for portfolio⁽¹⁾	3,242			3,314
Less: Allowance for credit losses	(3		)	—
Total mortgage loans held for portfolio, net	$	3,239		$	3,314

Other Delinquency Statistics



March 31, 2020
	Origination Year
Payment Status	<2016		2016 to 2020		Amortized Cost⁽¹⁾
30 – 59 days delinquent	$	12	$	3	$	15
60 – 89 days delinquent	3		2		5
90 days or more delinquent	3		4		7
Total past due	18		9		27
Total current loans	2,981		234		3,215
Total MPF	$	2,999	$	243	$	3,242
In process of foreclosure, included above⁽²⁾					$	1
Nonaccrual loans⁽³⁾					$	7
Serious delinquencies as a percentage of total mortgage loans outstanding⁽⁴⁾					0.22		%



December 31, 2019
Payment Status	Recorded Investment⁽¹⁾
30 – 59 days delinquent	$	15
60 – 89 days delinquent	2
90 days or more delinquent	7
Total past due	24
Total current loans	3,310
Total MPF	$	3,334
In process of foreclosure, included above⁽²⁾	$	—
Nonaccrual loans	$	7
Serious delinquencies as a percentage of total mortgage loans outstanding⁽⁴⁾	0.22		%

(1)

With the adoption of new accounting guidance for the measurement of credit losses on financial instruments on January 1, 2020, payment status of mortgage loans is disclosed at amortized cost. The recorded investment at December 31, 2019, in a loan is the unpaid principal balance of the loan, adjusted for accrued interest, net deferred loan fees or costs, unamortized premiums or discounts, and direct write-downs. The recorded investment is not net of any valuation allowance. The amortized cost at March 31, 2020, in a loan is the unpaid principal balance of the loan, adjusted for net deferred loan fees or costs, unamortized premiums or discounts, and direct write-downs.


(2)	Includes loans for which the servicer has reported a decision to foreclose or to pursue a similar alternative, such as deed-in-lieu. Loans in process of foreclosure are included in past due or current loans depending on their delinquency status.


(3)	At March 31, 2020, $6 of these mortgage loans on nonaccrual status did not have an associated allowance for credit losses.

(4)

Represents loans that are 90 days or more past due or in the process of foreclosure as a percentage of the recorded investment of total mortgage loans outstanding.