Mortgage Loans (Tables)

3 Months Ended

Mar. 31, 2013

Mortgage Loans on Real Estate [Line Items]

Loans in Mortgage Portfolio [Table Text Block]

The following table displays our mortgage loans as of March 31, 2013 and December 31, 2012.



	As of
	March 31, 2013												December 31, 2012
	Of Fannie Mae				Of Consolidated Trusts				Total				Of Fannie Mae				Of Consolidated Trusts				Total
	(Dollars in millions)
Single-family		$	297,066			$	2,498,297			$	2,795,363			$	309,277			$	2,480,999			$	2,790,276
Multifamily		54,239				133,497				187,736				61,464				126,953				188,417
Total unpaid principal balance of mortgage loans		351,305				2,631,794				2,983,099				370,741				2,607,952				2,978,693
Cost basis and fair value adjustments, net		(14,369		)		46,367				31,998				(14,805		)		44,313				29,508
Allowance for loan losses for loans held for investment		(49,553		)		(6,908		)		(56,461		)		(50,519		)		(8,276		)		(58,795		)
Total mortgage loans		$	287,383			$	2,671,253			$	2,958,636			$	305,417			$	2,643,989			$	2,949,406

Aging Analysis [Table Text Block]

The following tables display an aging analysis of the total recorded investment in our HFI mortgage loans, excluding loans for which we have elected the fair value option, by portfolio segment and class as of March 31, 2013 and December 31, 2012.



	As of March 31, 2013⁽¹⁾
	30 - 59 Days Delinquent			60 - 89 Days Delinquent			Seriously Delinquent⁽²⁾			Total Delinquent			Current		Total		Recorded Investment in Loans 90 Days or More Delinquent and Accruing Interest			Recorded Investment in Nonaccrual Loans
	(Dollars in millions)
Single-family:
Primary⁽³⁾		$	34,276		$	10,678		$	61,396		$	106,350	$	2,456,907	$	2,563,257		$	104	$	71,918
Government⁽⁴⁾		74			31			339			444		50,152		50,596			339		—
Alt-A		5,477			1,948			20,056			27,481		116,657		144,138			16		21,977
Other⁽⁵⁾		2,344			813			7,519			10,676		53,546		64,222			36		8,244
Total single-family		42,171			13,470			89,310			144,951		2,677,262		2,822,213			495		102,139
Multifamily⁽⁶⁾		140			NA			822			962		189,260		190,222			1		2,609
Total		$	42,311		$	13,470		$	90,132		$	145,913	$	2,866,522	$	3,012,435		$	496	$	104,748



	As of December 31, 2012⁽¹⁾
	30 - 59 Days Delinquent			60 - 89 Days Delinquent			Seriously Delinquent⁽²⁾			Total Delinquent			Current		Total		Recorded Investment in Loans 90 Days or More Delinquent and Accruing Interest⁽⁷⁾			Recorded Investment in Nonaccrual Loans
	(Dollars in millions)
Single-family:
Primary⁽³⁾		$	39,043		$	13,513		$	67,737		$	120,293	$	2,424,022	$	2,544,315		$	2,162	$	78,822
Government⁽⁴⁾		82			40			340			462		50,408		50,870			340		—
Alt-A		6,009			2,417			22,181			30,607		121,099		151,706			502		24,048
Other⁽⁵⁾		2,613			1,053			8,527			12,193		57,336		69,529			297		9,209
Total single-family		47,747			17,023			98,785			163,555		2,652,865		2,816,420			3,301		112,079
Multifamily⁽⁶⁾		178			NA			428			606		190,445		191,051			—		2,214
Total		$	47,925		$	17,023		$	99,213		$	164,161	$	2,843,310	$	3,007,471		$	3,301	$	114,293

__________


⁽¹⁾	Recorded investment consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments, and accrued interest receivable.


⁽²⁾	Single-family seriously delinquent loans are loans that are 90 days or more past due or in the foreclosure process. Multifamily seriously delinquent loans are loans that are 60 days or more past due.


⁽³⁾	Consists of mortgage loans that are not included in other loan classes.


⁽⁴⁾	Consists of mortgage loans guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies that are not Alt-A. Primarily consists of reverse mortgages which due to their nature are not aged and are included in the current column.


⁽⁵⁾	Includes loans with higher-risk loan characteristics, such as interest-only loans and negative-amortizing loans that are neither government nor Alt-A.


⁽⁶⁾	Multifamily loans 60-89 days delinquent are included in the seriously delinquent column.


⁽⁷⁾	Includes loans with a recorded investment of $2.8 billion, which were repurchased in January 2013 pursuant to our resolution agreement with Bank of America. These loans were returned to accrual status to reflect the change in our assessment of collectability resulting from this agreement.

Individually Impaired Loans [Table Text Block]

The following tables display the total recorded investment, unpaid principal balance, and related allowance as of March 31, 2013 and December 31, 2012 and interest income recognized and average recorded investment for the three months ended March 31, 2013 and 2012 for individually impaired loans.



	As of
	March 31, 2013										December 31, 2012
	Unpaid Principal Balance			Total Recorded Investment⁽¹⁾			Related Allowance for Loan Losses		Related Allowance for Accrued Interest Receivable		Unpaid Principal Balance			Total Recorded Investment⁽¹⁾			Related Allowance for Loan Losses		Related Allowance for Accrued Interest Receivable
	(Dollars in millions)
Individually impaired loans:
With related allowance recorded:
Single-family:
Primary⁽²⁾		$	133,620		$	126,973	$	28,492	$	580		$	132,754		$	126,106	$	28,610	$	628
Government⁽³⁾		220			213		37		4			214			208		38		4
Alt-A		38,525			35,685		11,121		251			38,387			35,620		11,154		267
Other⁽⁴⁾		16,690			15,920		4,631		79			16,873			16,114		4,743		86
Total single-family		189,055			178,791		44,281		914			188,228			178,048		44,545		985
Multifamily		2,716			2,740		505		16			2,449			2,471		489		13
Total individually impaired loans with related allowance recorded		191,771			181,531		44,786		930			190,677			180,519		45,034		998

With no related allowance recorded:⁽⁵⁾
Single-family:
Primary⁽²⁾		11,739			9,719		—		—			16,222			13,901		—		—
Government⁽³⁾		109			110		—		—			104			104		—		—
Alt-A		2,880			1,857		—		—			3,994			2,822		—		—
Other⁽⁴⁾		800			596		—		—			1,218			977		—		—
Total single-family		15,528			12,282		—		—			21,538			17,804		—		—
Multifamily		1,289			1,303		—		—			2,056			2,068		—		—
Total individually impaired loans with no related allowance recorded		16,817			13,585		—		—			23,594			19,872		—		—
Total individually impaired loans⁽⁶⁾		$	208,588		$	195,116	$	44,786	$	930		$	214,271		$	200,391	$	45,034	$	998



	For the Three Months Ended March 31,
	2013									2012
	Average Recorded Investment			Total Interest Income Recognized⁽⁷⁾			Interest Income Recognized on a Cash Basis			Average Recorded Investment			Total Interest Income Recognized⁽⁷⁾			Interest Income Recognized on a Cash Basis
	(Dollars in millions)
Individually impaired loans:
With related allowance recorded:
Single-family:
Primary⁽²⁾		$	125,968		$	1,102		$	173		$	109,970		$	973		$	173
Government⁽³⁾		208			3			—			260			3			—
Alt-A		35,534			277			39			31,509			253			39
Other⁽⁴⁾		15,984			109			14			15,255			110			18
Total single-family		177,694			1,491			226			156,994			1,339			230
Multifamily		2,607			31			—			2,673			31			—
Total individually impaired loans with related allowance recorded		180,301			1,522			226			159,667			1,370			230

With no related allowance recorded:⁽⁵⁾
Single-family:
Primary⁽²⁾		10,830			641			59			6,608			184			54
Government⁽³⁾		109			2			—			20			2			—
Alt-A		2,078			175			10			1,558			51			15
Other⁽⁴⁾		662			63			5			374			19			7
Total single-family		13,679			881			74			8,560			256			76
Multifamily		1,686			22			1			1,714			21			1
Total individually impaired loans with no related allowance recorded		15,365			903			75			10,274			277			77
Total individually impaired loans⁽⁶⁾		$	195,666		$	2,425		$	301		$	169,941		$	1,647		$	307

__________


⁽¹⁾	Recorded investment consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments, and accrued interest receivable.


⁽²⁾	Consists of mortgage loans that are not included in other loan classes.


⁽³⁾	Consists of mortgage loans guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies that are not Alt-A.


⁽⁴⁾	Includes loans with higher-risk characteristics, such as interest-only loans and negative-amortizing loans that are neither government nor Alt-A.


⁽⁵⁾	The discounted cash flows or collateral value equals or exceeds the carrying value of the loan and, as such, no valuation allowance is required.


⁽⁶⁾	Includes single-family loans restructured in a TDR with a recorded investment of $189.2 billion and $193.4 billion as of March 31, 2013 and December 31, 2012, respectively. Includes multifamily loans restructured in a TDR with a recorded investment of $1.1 billion as of March 31, 2013 and December 31, 2012.


⁽⁷⁾	Total single-family interest income recognized of $2.4 billion and $1.6 billion for the three months ended March 31, 2013 and 2012, respectively, consists of $1.4 billion and $1.2 billion of contractual interest and $941 million and $387 million of effective yield adjustments.

Troubled Debt Restructurings Activity [Table Text Block]

The following table displays the number of loans and recorded investment in loans restructured in a TDR for the three months ended March 31, 2013 and 2012.



	For the Three Months Ended March 31,
	2013					2012
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		38,251		$	5,644		26,884		$	4,587
Government⁽³⁾		90		11			110		14
Alt-A		7,110		1,223			4,645		967
Other⁽⁴⁾		2,057		452			1,660		409
Total single-family		47,508		7,330			33,299		5,977
Multifamily		8		33			13		68
Total troubled debt restructurings		47,516		$	7,363		33,312		$	6,045

__________

⁽¹⁾

Recorded investment consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments, and accrued interest receivable. Based on the nature of our modification programs, which do not include principal or past-due interest forgiveness, there is not a material difference between the recorded investment in our loans pre- and post- modification, therefore amounts represent recorded investment post-modification.


⁽²⁾	Consists of mortgage loans that are not included in other loan classes.


⁽³⁾	Consists of mortgage loans guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies that are not Alt-A.


⁽⁴⁾	Includes loans with higher-risk characteristics, such as interest-only loans and negative-amortizing loans that are neither government nor Alt-A.

The following table displays the number of loans and recorded investment in loans that had a payment default for the three months ended March 31, 2013 and 2012 and were modified in a TDR in the twelve months prior to the payment default. For purposes of this disclosure, we define loans that had a payment default as single-family and multifamily loans with completed TDRs that liquidated during the period, either through foreclosure, deed-in-lieu of foreclosure or a short sale, single-family loans with completed modifications that are two or more months delinquent during the period or multifamily loans with completed modifications that are one or more months delinquent during the period.



	For the Three Months Ended March 31,
	2013					2012
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		12,060		$	1,867		11,872		$	2,074
Government⁽³⁾		29		4			50		10
Alt-A		2,672		484			2,243		466
Other⁽⁴⁾		823		185			1,195		288
Total single-family		15,584		2,540			15,360		2,838
Multifamily		3		15			1		2
Total TDRs that subsequently defaulted		15,587		$	2,555		15,361		$	2,840

__________


⁽¹⁾	Recorded investment consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments, and accrued interest receivable. Represents our recorded investment in the loan at time of payment default.


⁽²⁾	Consists of mortgage loans that are not included in other loan classes.


⁽³⁾	Consists of mortgage loans guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies that are not Alt-A.


⁽⁴⁾	Includes loans with higher-risk characteristics, such as interest-only loans and negative-amortizing loans that are neither government nor Alt-A.

Single-Family [Member]

Mortgage Loans on Real Estate [Line Items]

Credit Quality Indicators [Table Text Block]

The following table displays the total recorded investment in our single-family HFI loans, excluding loans for which we have elected the fair value option, by class and credit quality indicator as of March 31, 2013 and December 31, 2012. The single-family credit quality indicator is updated quarterly.



	As of
	March 31, 2013⁽¹⁾⁽²⁾							December 31, 2012⁽¹⁾⁽²⁾
	Primary⁽³⁾		Alt-A		Other⁽⁴⁾			Primary⁽³⁾		Alt-A		Other⁽⁴⁾
	(Dollars in millions)
Estimated mark-to-market LTV ratio:⁽⁵⁾
Less than or equal to 80%	$	1,740,861	$	55,177		$	21,416	$	1,703,384	$	57,419		$	21,936
Greater than 80%and less than or equal to 90%	341,143		17,388			6,752		346,018		18,313			7,287
Greater than 90%and less than or equal to 100%	218,014		16,333			7,004		219,736		16,930			7,369
Greater than 100%and less than or equal to 110%	97,882		13,769			6,716		100,302		14,293			7,169
Greater than 110% and less than or equal to 120%	57,264		10,669			5,737		59,723		10,994			6,231
Greater than 120% and less than or equal to 125%	19,785		4,252			2,414		20,620		4,387			2,665
Greater than 125%	88,308		26,550			14,183		94,532		29,370			16,872
Total	$	2,563,257	$	144,138		$	64,222	$	2,544,315	$	151,706		$	69,529

__________


⁽¹⁾	Recorded investment consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments, and accrued interest receivable.


⁽²⁾	Excludes $50.6 billion and $50.9 billion as of March 31, 2013 and December 31, 2012, respectively, of mortgage loans guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies that are not Alt-A loans. The segment class is primarily reverse mortgages for which we do not calculate an estimated mark-to-market LTV.


⁽³⁾	Consists of mortgage loans that are not included in other loan classes.


⁽⁴⁾	Includes loans with higher-risk loan characteristics, such as interest-only loans and negative-amortizing loans that are neither government nor Alt-A.


⁽⁵⁾	The aggregate estimated mark-to-market LTV ratio is based on the unpaid principal balance of the loan as of the end of each reported period divided by the estimated current value of the property, which we calculate using an internal valuation model that estimates periodic changes in home value.

Multifamily [Member]

Mortgage Loans on Real Estate [Line Items]

Credit Quality Indicators [Table Text Block]

The following table displays the total recorded investment in our multifamily HFI loans, excluding loans for which we have elected the fair value option, by credit quality indicator as of March 31, 2013 and December 31, 2012. The multifamily credit quality indicator is updated quarterly.



	As of
	March 31,			December 31,
	2013⁽¹⁾			2012⁽¹⁾
	(Dollars in millions)
Credit risk profile by internally assigned grade:⁽²⁾
Green		$	160,438		$	154,235
Yellow⁽³⁾		16,435			21,304
Orange		11,886			14,199
Red		1,463			1,313
Total		$	190,222		$	191,051

__________


⁽¹⁾	Recorded investment consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments, and accrued interest receivable.


⁽²⁾	Green (loan with acceptable risk); yellow (loan with signs of potential weakness); orange (loan with a well defined weakness that may jeopardize the timely full repayment); and red (loan with a weakness that makes timely collection or liquidation in full more questionable based on existing conditions and values).


⁽³⁾	Includes approximately $4.4 billion and $5.1 billion of unpaid principal balance as of March 31, 2013 and December 31, 2012, respectively, classified as yellow due to no available financial information.