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Fair Value FV Measurement 2 - Level 3 Reconciliation (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) $ 38 $ (274) $ 283 $ (166)
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 3 (9) 135 0
Interest Income [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 70 79 125 145
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 0 0 0
Fair Value Gains (Losses), Net [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) (31) 33 161 120
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 3 (9) 135 0
Net Other-than-Temporary Impairments [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) (4) (388) (9) (439)
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 0 0 0
Other [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 3 2 6 8
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 0 0 0
Trading securities [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 2,752 2,756 2,286 4,238
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 47 41 287 45
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] (33) [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (88) [3] (105) [3] (143) [3] (263) [3]
Transfers out of Level 3 (162) [4] (416) [4] (206) [4] (2,006) [4]
Transfers Into Level 3 410 [4] 29 [4] 735 [4] 324 [4]
Ending Balance 2,959 2,305 2,959 2,305
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 45 [5] (7) [5] 281 [5] (15) [5]
Trading securities [Member] | Fannie Mae [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 61 89 68 1,737
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) (3) (3) (6) 2
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] (33) [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (6) [3] (4) [3] (10) [3] (108) [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] (1,581) [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 65 [4]
Ending Balance 52 82 52 82
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held (3) [5] (2) [5] (6) [5] (2) [5]
Trading securities [Member] | Freddie Mac [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 2 2 2 0
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 0 0 0 0
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements 0 [3] 0 [3] 0 [3] 0 [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 2 [4]
Ending Balance 2 2 2 2
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5] 0 [5] 0 [5] 0 [5]
Trading securities [Member] | Ginnie Mae [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 0   1 9
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 0   0 0
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1]   0 [1] 0 [1]
Purchases 0 [2]   0 [2] 0 [2]
Sales 0 [2]   0 [2] 0 [2]
Issues 0 [3]   0 [3] 0 [3]
Settlements 0 [3]   (1) [3] 0 [3]
Transfers out of Level 3 0 [4]   0 [4] (9) [4]
Transfers Into Level 3 2 [4]   2 [4] 0 [4]
Ending Balance 2 0 2 0
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5]   0 [5] 0 [5]
Trading securities [Member] | Alt-A private-label securities [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 464 569 104 345
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 32 56 127 69
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (39) [3] (50) [3] (55) [3] (67) [3]
Transfers out of Level 3 (162) [4] (416) [4] (206) [4] (416) [4]
Transfers Into Level 3 408 [4] 29 [4] 733 [4] 257 [4]
Ending Balance 703 188 703 188
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 31 [5] 7 [5] 121 [5] 13 [5]
Trading securities [Member] | Subprime private-label securities [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 1,446 1,305 1,319 1,280
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 80 (37) 239 22
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (38) [3] (42) [3] (70) [3] (76) [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Ending Balance 1,488 1,226 1,488 1,226
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 79 [5] (37) [5] 239 [5] 22 [5]
Trading securities [Member] | Mortgage revenue bonds [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 661 668 675 724
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) (56) 28 (69) (26)
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (2) [3] (7) [3] (3) [3] (9) [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Ending Balance 603 689 603 689
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held (56) [5] 28 [5] (69) [5] (26) [5]
Trading securities [Member] | Other [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 118 123 117 143
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) (6) (3) (4) (22)
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (3) [3] (2) [3] (4) [3] (3) [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Ending Balance 109 118 109 118
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held (6) [5] (3) [5] (4) [5] (22) [5]
Available-for-sale securities [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 24,451 27,853 25,034 29,492
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 70 (306) 125 (280)
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 283 [1] 435 [1] 1,193 [1] 733 [1]
Purchases 0 [2] 5 [2] 0 [2] 6 [2]
Sales 0 [2] (23) [2] (19) [2] (48) [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (1,502) [3] (1,189) [3] (2,606) [3] (2,236) [3]
Transfers out of Level 3 (773) [4] (922) [4] (1,979) [4] (2,802) [4]
Transfers Into Level 3 1,811 [4] 475 [4] 2,592 [4] 1,463 [4]
Ending Balance 24,340 26,328 24,340 26,328
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5] 0 [5] 0 [5] 0 [5]
Available-for-sale securities [Member] | Fannie Mae [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 12 37 29 946
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 0 0 0 0
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) (1) [1] 0 [1] (1) [1] (8) [1]
Purchases 0 [2] 5 [2] 0 [2] 6 [2]
Sales 0 [2] (5) [2] 0 [2] (6) [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (1) [3] (3) [3] (4) [3] (19) [3]
Transfers out of Level 3 0 [4] 0 [4] (14) [4] (895) [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 10 [4]
Ending Balance 10 34 10 34
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5] 0 [5] 0 [5] 0 [5]
Available-for-sale securities [Member] | Freddie Mac [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 9 11 10 12
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 0 0 0 0
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) (1) [1] 0 [1] (1) [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements 0 [3] 0 [3] (1) [3] (1) [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 1 [4] 0 [4] 1 [4] 0 [4]
Ending Balance 9 11 9 11
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5] 0 [5] 0 [5] 0 [5]
Available-for-sale securities [Member] | Alt-A private-label securities [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 6,112 7,136 6,564 7,256
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 11 (85) 20 (102)
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 249 [1] 127 [1] 467 [1] 293 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (401) [3] (275) [3] (669) [3] (537) [3]
Transfers out of Level 3 (773) [4] (922) [4] (1,965) [4] (1,907) [4]
Transfers Into Level 3 1,810 [4] 475 [4] 2,591 [4] 1,453 [4]
Ending Balance 7,008 6,456 7,008 6,456
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5] 0 [5] 0 [5] 0 [5]
Available-for-sale securities [Member] | Subprime private-label securities [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 7,868 7,595 7,447 7,586
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 46 (230) 90 (195)
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 234 [1] 203 [1] 911 [1] 506 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (286) [3] (338) [3] (586) [3] (667) [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Ending Balance 7,862 7,230 7,862 7,230
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5] 0 [5] 0 [5] 0 [5]
Available-for-sale securities [Member] | Mortgage revenue bonds [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 7,351 9,732 7,837 10,247
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 12 1 10 3
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) (253) [1] 117 [1] (282) [1] (20) [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] (18) [2] (19) [2] (42) [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (710) [3] (479) [3] (1,146) [3] (835) [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Ending Balance 6,400 9,353 6,400 9,353
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5] 0 [5] 0 [5] 0 [5]
Available-for-sale securities [Member] | Other [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 3,099 3,342 3,147 3,445
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 1 8 5 14
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 55 [1] (12) [1] 99 [1] (38) [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (104) [3] (94) [3] (200) [3] (177) [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Ending Balance 3,051 3,244 3,051 3,244
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 0 [5] 0 [5] 0 [5] 0 [5]
Mortgage Loans [Member] | Consolidated Trusts [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance 2,882 2,271 2,634 2,319
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) 30 47 57 120
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 85 [2] 142 [2] 243 [2] 387 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements (122) [3] (110) [3] (234) [3] (169) [3]
Transfers out of Level 3 (51) [4] (26) [4] (89) [4] (344) [4]
Transfers Into Level 3 137 [4] 7 [4] 350 [4] 18 [4]
Ending Balance 2,961 2,331 2,961 2,331
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held 25 [5] 43 [5] (393) [5] (10) [5]
Net derivatives [Member]
       
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance (7) 44 14 65
Total Gains or (Losses) (Realized/Unrealized) Included in Net Income (Loss) (89) 8 (129) 15
Total Gains or (Losses) (Realized/Unrealized) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] (3) [3] 0 [3] 6 [3]
Settlements 31 [3] 25 [3] 54 [3] 0 [3]
Transfers out of Level 3 16 [4] 0 [4] 16 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] (4) [4] 0 [4]
Ending Balance (49) 74 (49) 74
Net Unrealized Gains (Losses) Included in Net Income (Loss) Related to Assets Still Held (44) [5] 19 [5] (61) [5] 33 [5]
Long-term debt [Member]
       
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance (1,460) (1,349) (1,528) (1,171)
Total Gains (Losses) (Realized/Unrealized) Included in Net Loss (20) (64) (57) (66)
Total Gains or (Losses) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues (5) [3] (218) [3] (20) [3] (485) [3]
Settlements 56 [3] 50 [3] 105 [3] 78 [3]
Transfers out of Level 3 57 [4] 0 [4] 170 [4] 110 [4]
Transfers Into Level 3 (42) [4] (150) [4] (84) [4] (197) [4]
Ending Balance (1,414) (1,731) (1,414) (1,731)
Net Unrealized Gain (Loss) Included in Net Loss Related to Liabilities Still Held (23) [5] (64) [5] 308 [5] (8) [5]
Long-term debt [Member] | Consolidated Trusts [Member]
       
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance (1,077) (950) (1,128) (765)
Total Gains (Losses) (Realized/Unrealized) Included in Net Loss (66) (51) (120) (60)
Total Gains or (Losses) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues (5) [3] (218) [3] (20) [3] (485) [3]
Settlements 56 [3] 50 [3] 105 [3] 78 [3]
Transfers out of Level 3 57 [4] 0 [4] 170 [4] 110 [4]
Transfers Into Level 3 (42) [4] (150) [4] (84) [4] (197) [4]
Ending Balance (1,077) (1,319) (1,077) (1,319)
Net Unrealized Gain (Loss) Included in Net Loss Related to Liabilities Still Held (69) [5] (51) [5] 245 [5] (2) [5]
Long-term debt [Member] | Senior Floating [Member] | Fannie Mae [Member]
       
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning Balance (383) (399) (400) (406)
Total Gains (Losses) (Realized/Unrealized) Included in Net Loss 46 (13) 63 (6)
Total Gains or (Losses) Included in Other Comprehensive Income (Loss) 0 [1] 0 [1] 0 [1] 0 [1]
Purchases 0 [2] 0 [2] 0 [2] 0 [2]
Sales 0 [2] 0 [2] 0 [2] 0 [2]
Issues 0 [3] 0 [3] 0 [3] 0 [3]
Settlements 0 [3] 0 [3] 0 [3] 0 [3]
Transfers out of Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Transfers Into Level 3 0 [4] 0 [4] 0 [4] 0 [4]
Ending Balance (337) (412) (337) (412)
Net Unrealized Gain (Loss) Included in Net Loss Related to Liabilities Still Held $ 46 [5] $ (13) [5] $ 63 [5] $ (6) [5]
[1] (Losses) gains included in other comprehensive income are included in “Changes in unrealized gains on available-for-sale securities, net of reclassification adjustments and taxes” in the condensed consolidated statements of operations and comprehensive income.
[2] Purchases and sales include activity related to the consolidation and deconsolidation of assets of securitization trusts.
[3] Issues and settlements include activity related to the consolidation and deconsolidation of liabilities of securitization trusts.
[4] Transfers out of Level 3 consisted primarily of Fannie Mae MBS and private-label mortgage-related securities backed by Alt-A loans. Prices for these securities were obtained from multiple third-party vendors supported by market observable inputs. Transfers into Level 3 consisted primarily of private-label mortgage-related securities backed by Alt-A loans. Prices for these securities are based on inputs from a single source or inputs that were not readily observable.
[5] Amount represents temporary changes in fair value. Amortization, accretion and other-than-temporary impairments are not considered unrealized and are not included in this amount.