Mortgage Loans Held for Portfolio (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Mortgage Loans Held for Portfolio [Table Text Block]

The following table presents information on the Bank’s mortgage loans held for portfolio (dollars in millions):

	March 31, 2020			December 31, 2019
Fixed rate, long-term single-family mortgage loans	$	8,335		$	8,192
Fixed rate, medium-term1 single-family mortgage loans	1,079			1,016
Total unpaid principal balance	9,414			9,208
Premiums	128			125
Discounts	(4		)	(4		)
Basis adjustments from mortgage loan purchase commitments	9			6
Total mortgage loans held for portfolio2	9,547			9,335
Allowance for credit losses	(1		)	(1		)
Total mortgage loans held for portfolio, net	$	9,546		$	9,334

1 Medium-term is defined as a term of 15 years or less.

2 Excludes accrued interest receivable of $49 million and $48 million as of March 31, 2020 and December 31, 2019.

The following table presents the Bank’s mortgage loans held for portfolio by collateral or guarantee type (dollars in millions):

	March 31, 2020		December 31, 2019
Conventional mortgage loans	$	8,917	$	8,712
Government-insured mortgage loans	497		496
Total unpaid principal balance	$	9,414	$	9,208

Financing Receivable Credit Quality Indicators [Table Text Block]

The following tables present the payment status for MPF and MPP conventional mortgage loans (dollars in millions):

	March 31, 2020
	Origination Year
	Prior to 2016		2016 to 2020		Total
Past due 30 - 59 days	$	35	$	16	$	51
Past due 60 - 89 days	12		2		14
Past due 90 - 179 days	6		3		9
Past due 180 days or more	8		1		9
Total past due mortgage loans	61		22		83
Total current mortgage loans	2,726		6,231		8,957
Total amortized cost of mortgage loans1	$	2,787	$	6,253	$	9,040

	December 31, 2019
Past due 30 - 59 days	$	57
Past due 60 - 89 days	14
Past due 90 - 179 days	10
Past due 180 days or more	10
Total past due mortgage loans	91
Total current mortgage loans	8,783
Total recorded investment of mortgage loans1	$	8,874

1

Amortized cost represents the unpaid principal balance adjusted for unamortized premiums, discounts, basis adjustments, and direct write-downs. Recorded investment at December 31, 2019 includes accrued interest receivable whereas the amortized cost at March 31, 2020 excludes accrued interest receivable.

Financing Receivable, Past Due [Table Text Block]

The following tables present other delinquency statistics for MPF and MPP mortgage loans (dollars in millions):

	March 31, 2020
Amortized Cost	Conventional			Government-Insured			Total
In process of foreclosure1	$	5		$	1		$	6
Serious delinquency rate2	—		%	2		%	—		%
Past due 90 days or more and still accruing interest3	$	—		$	8		$	8
Non-accrual mortgage loans4	$	29		$	—		$	29

	December 31, 2019
Recorded Investment	Conventional			Government- Insured			Total
In process of foreclosure1	$	5		$	1		$	6
Serious delinquency rate2	—		%	1		%	—		%
Past due 90 days or more and still accruing interest3	$	—		$	7		$	7
Non-accrual mortgage loans4	$	31		$	—		$	31

1 Includes loans where the decision of foreclosure or similar alternative such as pursuit of deed-in-lieu has been reported.

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

3 Represents government-insured mortgage loans that are 90 days or more past due.

4 Represents conventional mortgage loans that are 90 days or more past due or TDRs. As of March 31, 2020, none of these conventional mortgage loans on non-accrual status had an associated allowance for expected credit losses.