Mortgage Loans (Tables)

6 Months Ended

Jun. 30, 2014

Mortgage Loans on Real Estate [Line Items]

Loans in Mortgage Portfolio [Table Text Block]

The following table displays our mortgage loans as of June 30, 2014 and December 31, 2013.



	As of
	June 30, 2014												December 31, 2013
	Of Fannie Mae				Of Consolidated Trusts				Total				Of Fannie Mae				Of Consolidated Trusts				Total
	(Dollars in millions)
Single-family		$	268,114			$	2,561,871			$	2,829,985			$	276,644			$	2,579,024			$	2,855,668
Multifamily		30,259				151,036				181,295				37,642				146,249				183,891
Total unpaid principal balance of mortgage loans		298,373				2,712,907				3,011,280				314,286				2,725,273				3,039,559
Cost basis and fair value adjustments, net		(13,164		)		45,737				32,573				(13,778		)		44,305				30,527
Allowance for loan losses for loans held for investment		(36,643		)		(2,424		)		(39,067		)		(40,521		)		(3,325		)		(43,846		)
Total mortgage loans		$	248,566			$	2,756,220			$	3,004,786			$	259,987			$	2,766,253			$	3,026,240

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 June 30, 2014 and December 31, 2013.



	As of June 30, 2014⁽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⁾		$	29,122		$	8,323		$	41,458		$	78,903	$	2,560,063	$	2,638,966		$	57	$	49,689
Government⁽⁴⁾		63			24			330			417		46,586		47,003			330		—
Alt-A		4,227			1,469			13,220			18,916		100,616		119,532			9		14,677
Other⁽⁵⁾		1,678			562			4,387			6,627		42,225		48,852			18		4,899
Total single-family		35,090			10,378			59,395			104,863		2,749,490		2,854,353			414		69,265
Multifamily⁽⁶⁾		59			N/A			172			231		182,715		182,946			—		1,617
Total		$	35,149		$	10,378		$	59,567		$	105,094	$	2,932,205	$	3,037,299		$	414	$	70,882



	As of December 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⁾		$	32,371		$	9,755		$	48,345		$	90,471	$	2,558,826	$	2,649,297		$	81	$	57,973
Government⁽⁴⁾		66			32			346			444		48,150		48,594			346		—
Alt-A		4,748			1,692			15,425			21,865		105,644		127,509			11		17,102
Other⁽⁵⁾		1,940			659			5,404			8,003		45,288		53,291			22		5,999
Total single-family		39,125			12,138			69,520			120,783		2,757,908		2,878,691			460		81,074
Multifamily⁽⁶⁾		59			N/A			186			245		185,733		185,978			—		2,209
Total		$	39,184		$	12,138		$	69,706		$	121,028	$	2,943,641	$	3,064,669		$	460	$	83,283

__________


⁽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 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.

Individually Impaired Loans [Table Text Block]

The following tables display the total unpaid principal balance, recorded investment and related allowance as of June 30, 2014 and December 31, 2013, and interest income recognized and average recorded investment for the three and six months ended June 30, 2014 and 2013, for individually impaired loans.



	As of
	June 30, 2014										December 31, 2013
	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⁾		$	128,363		$	122,031	$	22,370	$	363		$	130,080		$	123,631	$	24,145	$	430
Government⁽³⁾		279			283		42		12			213			210		35		5
Alt-A		36,695			33,817		8,673		160			37,356			34,479		9,364		187
Other⁽⁴⁾		15,323			14,541		3,539		46			15,789			15,023		3,879		56
Total single-family		180,660			170,672		34,624		581			183,438			173,343		37,423		678
Multifamily		1,715			1,729		249		8			2,257			2,276		306		10
Total individually impaired loans with related allowance recorded		182,375			172,401		34,873		589			185,695			175,619		37,729		688

With no related allowance recorded:⁽⁵⁾
Single-family:
Primary⁽²⁾		15,531			14,013		—		—			14,076			12,305		—		—
Government⁽³⁾		61			56		—		—			120			120		—		—
Alt-A		3,476			2,705		—		—			3,290			2,428		—		—
Other⁽⁴⁾		1,099			949		—		—			1,039			868		—		—
Total single-family		20,167			17,723		—		—			18,525			15,721		—		—
Multifamily		1,613			1,622		—		—			1,927			1,939		—		—
Total individually impaired loans with no related allowance recorded		21,780			19,345		—		—			20,452			17,660		—		—
Total individually impaired loans⁽⁶⁾		$	204,155		$	191,746	$	34,873	$	589		$	206,147		$	193,279	$	37,729	$	688



	For the Three Months Ended June 30,
	2014									2013
	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⁾		$	122,791		$	1,093		$	121		$	125,689		$	1,093		$	152
Government⁽³⁾		281			3			—			214			2			—
Alt-A		34,029			267			22			35,376			275			35
Other⁽⁴⁾		14,669			102			9			15,700			108			15
Total single-family		171,770			1,465			152			176,979			1,478			202
Multifamily		1,813			23			—			2,704			36			1
Total individually impaired loans with related allowance recorded		173,583			1,488			152			179,683			1,514			203

With no related allowance recorded:⁽⁵⁾
Single-family:
Primary⁽²⁾		13,413			205			53			10,301			283			57
Government⁽³⁾		56			2			—			112			2			—
Alt-A		2,636			43			10			1,972			55			12
Other⁽⁴⁾		927			13			3			661			23			5
Total single-family		17,032			263			66			13,046			363			74
Multifamily		1,668			20			—			1,666			25			—
Total individually impaired loans with no related allowance recorded		18,700			283			66			14,712			388			74
Total individually impaired loans⁽⁶⁾		$	192,283		$	1,771		$	218		$	194,395		$	1,902		$	277



	For the Six Months Ended June 30,
	2014									2013
	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⁾		$	123,066		$	2,187		$	261		$	125,663		$	2,195		$	325
Government⁽³⁾		257			6			—			211			5			—
Alt-A		34,178			537			50			35,422			552			74
Other⁽⁴⁾		14,787			205			20			15,830			217			29
Total single-family		172,288			2,935			331			177,126			2,969			428
Multifamily		1,967			46			—			2,628			67			1
Total individually impaired loans with related allowance recorded		174,255			2,981			331			179,754			3,036			429

With no related allowance recorded:⁽⁵⁾
Single-family:
Primary⁽²⁾		13,055			390			101			10,688			924			116
Government⁽³⁾		76			3			—			110			4			—
Alt-A		2,576			84			20			2,049			230			22
Other⁽⁴⁾		910			24			5			671			86			10
Total single-family		16,617			501			126			13,518			1,244			148
Multifamily		1,758			40			—			1,800			47			1
Total individually impaired loans with no related allowance recorded		18,375			541			126			15,318			1,291			149
Total individually impaired loans⁽⁶⁾		$	192,630		$	3,522		$	457		$	195,072		$	4,327		$	578

__________


⁽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 $187.1 billion and $187.6 billion as of June 30, 2014 and December 31, 2013, respectively. Includes multifamily loans restructured in a TDR with a recorded investment of $880 million and $911 million as of June 30, 2014 and December 31, 2013, respectively.

⁽⁷⁾

Total single-family interest income recognized of $1.7 billion and $1.8 billion for the three months ended June 30, 2014 and 2013, respectively, consists of $1.4 billion of contractual interest for both periods and $285 million and $410 million of effective yield adjustments, respectively. Total single-family interest income recognized of $3.4 billion and $4.2 billion for the six months ended June 30, 2014 and 2013, respectively, consists of $2.9 billion of contractual interest for both periods and $560 million and $1.3 billion of effective yield adjustments, respectively.

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 and six months ended June 30, 2014 and 2013.



	For the Three Months Ended June 30,
	2014					2013
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		24,932		$	3,564		31,304		$	4,833
Government⁽³⁾		111		13			90		10
Alt-A		3,660		614			5,175		947
Other⁽⁴⁾		872		179			1,641		370
Total single-family		29,575		4,370			38,210		6,160
Multifamily		3		4			17		135
Total troubled debt restructurings		29,578		$	4,374		38,227		$	6,295



	For the Six Months Ended June 30,
	2014					2013
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		53,774		$	7,674		69,555		$	10,477
Government⁽³⁾		173		21			180		21
Alt-A		8,056		1,354			12,285		2,170
Other⁽⁴⁾		1,910		398			3,698		822
Total single-family		63,913		9,447			85,718		13,490
Multifamily		9		38			25		168
Total troubled debt restructurings		63,922		$	9,485		85,743		$	13,658

__________

⁽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 and six months ended June 30, 2014 and 2013 and were restructured 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 June 30,
	2014					2013
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		8,190		$	1,251		11,320		$	1,749
Government⁽³⁾		18		1			31		4
Alt-A		1,396		252			2,584		466
Other⁽⁴⁾		420		89			852		195
Total single-family		10,024		1,593			14,787		2,414
Multifamily		1		3			3		5
Total TDRs that subsequently defaulted		10,025		$	1,596		14,790		$	2,419



	For the Six Months Ended June 30,
	2014					2013
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		16,788		$	2,561		23,380		$	3,616
Government⁽³⁾		36		3			60		8
Alt-A		2,840		512			5,256		950
Other⁽⁴⁾		924		204			1,675		380
Total single-family		20,588		3,280			30,371		4,954
Multifamily		5		17			6		20
Total TDRs that subsequently defaulted		20,593		$	3,297		30,377		$	4,974

__________


⁽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 June 30, 2014 and December 31, 2013. The single-family credit quality indicator is based on available data through the end of each period presented.



	As of
	June 30, 2014⁽¹⁾⁽²⁾							December 31, 2013⁽¹⁾⁽²⁾
	Primary⁽³⁾		Alt-A		Other⁽⁴⁾			Primary⁽³⁾		Alt-A		Other⁽⁴⁾
	(Dollars in millions)
Estimated mark-to-market loan-to-value ratio:⁽⁵⁾
Less than or equal to 80%	$	2,135,261	$	62,455		$	24,320	$	2,073,079	$	61,670		$	24,112
Greater than 80%and less than or equal to 90%	256,754		15,978			6,494		276,011		16,794			6,947
Greater than 90%and less than or equal to 100%	131,666		13,366			5,760		153,474		14,709			6,402
Greater than 100%and less than or equal to 110%	49,148		9,783			4,327		59,630		11,006			5,146
Greater than 110% and less than or equal to 120%	27,280		6,651			3,069		33,954		7,742			3,691
Greater than 120% and less than or equal to 125%	8,908		2,418			1,054		11,256		2,951			1,406
Greater than 125%	29,949		8,881			3,828		41,893		12,637			5,587
Total	$	2,638,966	$	119,532		$	48,852	$	2,649,297	$	127,509		$	53,291

__________


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


⁽²⁾	Excludes $47.0 billion and $48.6 billion as of June 30, 2014 and December 31, 2013, 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 ratio.


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


⁽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 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 June 30, 2014 and December 31, 2013. The multifamily credit quality indicator is based on available data through the end of each period presented.



	As of
	June 30,			December 31,
	2014⁽¹⁾			2013⁽¹⁾
	(Dollars in millions)
Credit risk profile by internally assigned grade:⁽²⁾
Pass		$	174,656		$	176,528
Special Mention		2,523			2,234
Substandard		5,346			6,758
Doubtful		421			458
Total		$	182,946		$	185,978

_________


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

⁽²⁾

Pass (loan is current and adequately protected by the current financial strength and debt service capacity of the borrower); special mention (loan with signs of potential weakness); substandard (loan with a well defined weakness that jeopardizes timely full repayment); and doubtful (loan with a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions and values).