Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provides a summary of our assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2016 and December 31, 2015 (in millions):

	September 30, 2016						December 31, 2015
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Agency securities	$	—	$	46,328	$	—	$	—	$	51,331	$	—
Agency securities transferred to consolidated VIEs	—		890		—		—		1,029		—
Non-agency securities	—		102		—		—		113		—
Credit risk transfer securities	—		36		—		—		—		—
U.S. Treasury securities	45		—		—		25		—		—
Interest rate swaps	—		5		—		—		31		—
Swaptions	—		6		—		—		17		—
REIT equity securities	—		—		—		33		—		—
TBA securities	—		50		—		—		29		—
U.S. Treasury futures	—		—		—		4		—		—
Total	$	45	$	47,417	$	—	$	62	$	52,550	$	—
Liabilities:
Debt of consolidated VIEs	$	—	$	494	$	—	$	—	$	595	$	—
Obligation to return U.S. Treasury securities borrowed under reverse repurchase agreements	5,424		—		—		1,696		—		—
Interest rate swaps	—		942		—		—		920		—
TBA securities	—		4		—		—		15		—
U.S. Treasury futures	1		—		—		—		—		—
Total	$	5,425	$	1,440	$	—	$	1,696	$	1,530	$	—