Mortgage Loans Held for Portfolio

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Mortgage Loans Held for Portofolio [Text Block]

Mortgage Loans Held for Portfolio

We invest in mortgage loans through the MPF program. These mortgage loans are either guaranteed or insured by federal agencies, as is the case with government mortgage loans, or are credit-enhanced, directly or indirectly, by the related entity that sold the loan (a participating financial institution), as is the case with conventional mortgage loans. All such investments are held for portfolio. The mortgage loans are typically originated and credit-enhanced by the related participating financial institution. The majority of these loans are serviced by the originating institution or an affiliate thereof. However, a portion of these loans are sold servicing-released by the participating financial institution and serviced by a third-party servicer.

Table 10.1 - Mortgage Loans Held for Portfolio (dollars in thousands)
	December 31, 2019			December 31, 2018
Real estate
Fixed-rate 15-year single-family mortgages	$	339,042		$	392,128
Fixed-rate 20- and 30-year single-family mortgages	4,093,416			3,839,078
Premiums	66,776			67,671
Discounts	(1,607		)	(1,800		)
Deferred derivative gains, net	4,124			2,825
Total mortgage loans held for portfolio	4,501,751			4,299,902
Less: allowance for credit losses	(500		)	(500		)
Total mortgage loans, net of allowance for credit losses	$	4,501,251		$	4,299,402

Table 10.2 - Mortgage Loans Held for Portfolio by Collateral/Guarantee Type (dollars in thousands)
	December 31, 2019		December 31, 2018
Conventional mortgage loans	$	4,140,255	$	3,902,555
Government mortgage loans	292,203		328,651
Total par value	$	4,432,458	$	4,231,206

See Note 11 — Allowance for Credit Losses for information related to our credit risk from our investments in mortgage loans and allowance for credit losses based on these investments.