Mortgage Loans (Tables)

9 Months Ended

Sep. 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 September 30, 2014 and December 31, 2013.



	As of
	September 30, 2014												December 31, 2013
	Of Fannie Mae				Of Consolidated Trusts				Total				Of Fannie Mae				Of Consolidated Trusts				Total
	(Dollars in millions)
Single-family		$	265,450			$	2,563,768			$	2,829,218			$	276,644			$	2,579,024			$	2,855,668
Multifamily		26,813				157,454				184,267				37,642				146,249				183,891
Total unpaid principal balance of mortgage loans		292,263				2,721,222				3,013,485				314,286				2,725,273				3,039,559
Cost basis and fair value adjustments, net		(12,958		)		46,607				33,649				(13,778		)		44,305				30,527
Allowance for loan losses for loans held for investment		(34,562		)		(2,369		)		(36,931		)		(40,521		)		(3,325		)		(43,846		)
Total mortgage loans		$	244,743			$	2,765,460			$	3,010,203			$	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 September 30, 2014 and December 31, 2013.



	As of September 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⁾		$	29,364		$	8,607		$	39,555		$	77,526	$	2,569,091	$	2,646,617		$	54	$	48,073
Government⁽⁴⁾		63			24			319			406		45,738		46,144			319		—
Alt-A		4,281			1,453			12,289			18,023		97,701		115,724			9		13,731
Other⁽⁵⁾		1,685			559			4,034			6,278		39,785		46,063			9		4,570
Total single-family		35,393			10,643			56,197			102,233		2,752,315		2,854,548			391		66,374
Multifamily⁽⁶⁾		77			N/A			176			253		185,831		186,084			—		1,325
Total		$	35,470		$	10,643		$	56,373		$	102,486	$	2,938,146	$	3,040,632		$	391	$	67,699



	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 September 30, 2014 and December 31, 2013, and interest income recognized and average recorded investment for the three and nine months ended September 30, 2014 and 2013, for individually impaired loans.



	As of
	September 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⁾		$	126,650		$	120,708		$	21,147		$	317		$	130,080		$	123,631		$	24,145		$	430
Government⁽³⁾		280			284			47			12			213			210			35			5
Alt-A		35,687			32,977			8,038			142			37,356			34,479			9,364			187
Other⁽⁴⁾		14,861			14,123			3,187			41			15,789			15,023			3,879			56
Total single-family		177,478			168,092			32,419			512			183,438			173,343			37,423			678
Multifamily		1,341			1,351			183			6			2,257			2,276			306			10
Total individually impaired loans with related allowance recorded		178,819			169,443			32,602			518			185,695			175,619			37,729			688

With no related allowance recorded:⁽⁵⁾
Single-family:
Primary⁽²⁾		16,486			14,716			—			—			14,076			12,305			—			—
Government⁽³⁾		62			57			—			—			120			120			—			—
Alt-A		4,083			3,191			—			—			3,290			2,428			—			—
Other⁽⁴⁾		1,273			1,094			—			—			1,039			868			—			—
Total single-family		21,904			19,058			—			—			18,525			15,721			—			—
Multifamily		1,516			1,524			—			—			1,927			1,939			—			—
Total individually impaired loans with no related allowance recorded		23,420			20,582			—			—			20,452			17,660			—			—
Total individually impaired loans⁽⁶⁾		$	202,239		$	190,025		$	32,602		$	518		$	206,147		$	193,279		$	37,729		$	688



	For the Three Months Ended September 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⁾		$	121,246		$	1,077		$	111		$	123,818		$	1,081		$	141
Government⁽³⁾		285			3			—			215			3			—
Alt-A		33,458			268			24			34,865			274			31
Other⁽⁴⁾		14,346			100			8			15,352			104			12
Total single-family		169,335			1,448			143			174,250			1,462			184
Multifamily		1,540			17			—			2,633			32			—
Total individually impaired loans with related allowance recorded		170,875			1,465			143			176,883			1,494			184

With no related allowance recorded:⁽⁵⁾
Single-family:
Primary⁽²⁾		14,442			226			56			12,067			243			58
Government⁽³⁾		55			1			—			114			2			—
Alt-A		2,887			51			14			2,332			52			11
Other⁽⁴⁾		1,008			16			3			815			19			4
Total single-family		18,392			294			73			15,328			316			73
Multifamily		1,572			18			—			2,002			25			2
Total individually impaired loans with no related allowance recorded		19,964			312			73			17,330			341			75
Total individually impaired loans⁽⁶⁾		$	190,839		$	1,777		$	216		$	194,213		$	1,835		$	259



	For the Nine Months Ended September 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⁾		$	122,443		$	3,264		$	372		$	125,026		$	3,276		$	466
Government⁽³⁾		266			9			—			213			8			—
Alt-A		33,926			805			74			35,231			826			105
Other⁽⁴⁾		14,635			305			28			15,672			321			41
Total single-family		171,270			4,383			474			176,142			4,431			612
Multifamily		1,813			63			—			2,621			99			1
Total individually impaired loans with related allowance recorded		173,083			4,446			474			178,763			4,530			613

With no related allowance recorded:⁽⁵⁾
Single-family:
Primary⁽²⁾		13,514			616			157			11,148			1,167			174
Government⁽³⁾		70			4			—			111			6			—
Alt-A		2,687			135			34			2,145			282			33
Other⁽⁴⁾		945			40			8			717			105			14
Total single-family		17,216			795			199			14,121			1,560			221
Multifamily		1,698			58			—			1,843			72			3
Total individually impaired loans with no related allowance recorded		18,914			853			199			15,964			1,632			224
Total individually impaired loans⁽⁶⁾		$	191,997		$	5,299		$	673		$	194,727		$	6,162		$	837

__________


⁽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 $185.9 billion and $187.6 billion as of September 30, 2014 and December 31, 2013, respectively. Includes multifamily loans restructured in a TDR with a recorded investment of $1.6 billion and $911 million as of September 30, 2014 and December 31, 2013, respectively.

⁽⁷⁾

Total single-family interest income recognized of $1.8 billion for the three months ended September 30, 2014 and 2013, consists of $1.4 billion of contractual interest and $297 million and $355 million of effective yield adjustments, respectively. Total single-family interest income recognized of $5.2 billion and $6.0 billion for the nine months ended September 30, 2014 and 2013, respectively, consists of $4.3 billion of contractual interest and $857 million and $1.7 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 nine months ended September 30, 2014 and 2013.



	For the Three Months Ended September 30,
	2014					2013
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		23,057		$	3,270		32,083		$	4,831
Government⁽³⁾		91		12			73		8
Alt-A		3,175		521			5,410		964
Other⁽⁴⁾		698		142			1,532		339
Total single-family		27,021		3,945			39,098		6,142
Multifamily		7		811			4		19
Total troubled debt restructurings		27,028		$	4,756		39,102		$	6,161



	For the Nine Months Ended September 30,
	2014					2013
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		76,831		$	10,944		101,638		$	15,308
Government⁽³⁾		264		33			253		29
Alt-A		11,231		1,875			17,695		3,134
Other⁽⁴⁾		2,608		540			5,230		1,161
Total single-family		90,934		13,392			124,816		19,632
Multifamily		16		849			29		187
Total troubled debt restructurings		90,950		$	14,241		124,845		$	19,819

__________

⁽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 nine months ended September 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 September 30,
	2014					2013
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		8,798		$	1,312		12,591		$	1,905
Government⁽³⁾		38		6			33		5
Alt-A		1,372		241			2,744		491
Other⁽⁴⁾		438		100			849		184
Total single-family		10,646		1,659			16,217		2,585
Multifamily		1		5			3		44
Total TDRs that subsequently defaulted		10,647		$	1,664		16,220		$	2,629



	For the Nine Months Ended September 30,
	2014					2013
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		RecordedInvestment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary⁽²⁾		25,586		$	3,873		35,971		$	5,521
Government⁽³⁾		74		9			93		13
Alt-A		4,212		753			8,000		1,441
Other⁽⁴⁾		1,362		304			2,524		564
Total single-family		31,234		4,939			46,588		7,539
Multifamily		6		22			9		64
Total TDRs that subsequently defaulted		31,240		$	4,961		46,597		$	7,603

__________


⁽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 September 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
	September 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%	$	2,176,566	$	63,102		$	23,722	$	2,073,079	$	61,670		$	24,112
Greater than 80%and less than or equal to 90%	248,727		15,558			6,267		276,011		16,794			6,947
Greater than 90%and less than or equal to 100%	122,972		12,568			5,389		153,474		14,709			6,402
Greater than 100%and less than or equal to 110%	42,671		9,029			3,973		59,630		11,006			5,146
Greater than 110% and less than or equal to 120%	23,522		5,987			2,659		33,954		7,742			3,691
Greater than 120% and less than or equal to 125%	7,616		2,142			922		11,256		2,951			1,406
Greater than 125%	24,543		7,338			3,131		41,893		12,637			5,587
Total	$	2,646,617	$	115,724		$	46,063	$	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 $46.1 billion and $48.6 billion as of September 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 September 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
	September 30,			December 31,
	2014⁽¹⁾			2013⁽¹⁾
	(Dollars in millions)
Credit risk profile by internally assigned grade:⁽²⁾
Pass		$	177,962		$	176,528
Special Mention		2,633			2,234
Substandard		5,174			6,758
Doubtful		315			458
Total		$	186,084		$	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).