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Mortgage Loans (Tables)
3 Months Ended
Mar. 31, 2015
Mortgage Loans on Real Estate [Line Items]  
Loans in Mortgage Portfolio [Table Text Block]
The following table displays the carrying value of our mortgage loans as of March 31, 2015 and December 31, 2014.
 
As of
 
March 31, 2015
 
December 31, 2014
 
Of Fannie Mae
 
Of Consolidated Trusts
 
Total
 
Of Fannie Mae
 
Of Consolidated Trusts
 
Total
 
(Dollars in millions)
Single-family
 
$
258,350

 
 
 
$
2,558,761

 
 
 
$
2,817,111

 
 
 
$
262,116

 
 
 
$
2,569,884

 
 
 
$
2,832,000

 
Multifamily
 
20,714

 
 
 
170,302

 
 
 
191,016

 
 
 
23,255

 
 
 
164,045

 
 
 
187,300

 
Total unpaid principal balance of mortgage loans
 
279,064

 
 
 
2,729,063

 
 
 
3,008,127

 
 
 
285,371

 
 
 
2,733,929

 
 
 
3,019,300

 
Cost basis and fair value adjustments, net
 
(12,775
)
 
 
 
49,584

 
 
 
36,809

 
 
 
(12,705
)
 
 
 
48,440

 
 
 
35,735

 
Allowance for loan losses for loans held for investment
 
(29,873
)
 
 
 
(1,947
)
 
 
 
(31,820
)
 
 
 
(33,117
)
 
 
 
(2,424
)
 
 
 
(35,541
)
 
Total mortgage loans
 
$
236,416

 
 
 
$
2,776,700

 
 
 
$
3,013,116

 
 
 
$
239,549

 
 
 
$
2,779,945

 
 
 
$
3,019,494

 
Aging Analysis [Table Text Block]
The following tables display an aging analysis of the total recorded investment in our HFI mortgage loans by portfolio segment and class as of March 31, 2015 and December 31, 2014, excluding loans for which we have elected the fair value option.
  
As of March 31, 2015
 
30 - 59 Days
Delinquent
 
60 - 89 Days Delinquent
 
Seriously Delinquent(1)
 
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
 
$
25,087

 
 
 
$
7,045

 
 
 
$
34,166

 
 
 
$
66,298

 
 
$
2,582,073

 
$
2,648,371

 
 
$
56

 
 
$
41,132

Government(2)
 
54

 
 
 
18

 
 
 
298

 
 
 
370

 
 
44,211

 
44,581

 
 
298

 
 

Alt-A
 
3,743

 
 
 
1,321

 
 
 
9,429

 
 
 
14,493

 
 
93,801

 
108,294

 
 
7

 
 
10,743

Other
 
1,347

 
 
 
446

 
 
 
3,103

 
 
 
4,896

 
 
37,397

 
42,293

 
 
7

 
 
3,534

Total single-family
 
30,231

 
 
 
8,830

 
 
 
46,996

 
 
 
86,057

 
 
2,757,482

 
2,843,539

 
 
368

 
 
55,409

Multifamily(3)
 
98

 
 
 
N/A

 
 
 
135

 
 
 
233

 
 
192,795

 
193,028

 
 

 
 
807

Total
 
$
30,329

 
 
 
$
8,830

 
 
 
$
47,131

 
 
 
$
86,290

 
 
$
2,950,277

 
$
3,036,567

 
 
$
368

 
 
$
56,216

  
As of December 31, 2014
 
30 - 59 Days
Delinquent
 
60 - 89 Days Delinquent
 
Seriously Delinquent(1)
 
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
 
$
29,130

 
 
 
$
8,396

 
 
 
$
38,248

 
 
 
$
75,774

 
 
$
2,580,446

 
$
2,656,220

 
 
$
55

 
 
$
46,556

Government(2)
 
63

 
 
 
26

 
 
 
305

 
 
 
394

 
 
44,927

 
45,321

 
 
305

 
 

Alt-A
 
4,094

 
 
 
1,414

 
 
 
11,603

 
 
 
17,111

 
 
95,650

 
112,761

 
 
8

 
 
13,007

Other
 
1,520

 
 
 
516

 
 
 
3,763

 
 
 
5,799

 
 
38,460

 
44,259

 
 
6

 
 
4,259

Total single-family
 
34,807

 
 
 
10,352

 
 
 
53,919

 
 
 
99,078

 
 
2,759,483

 
2,858,561

 
 
374

 
 
63,822

Multifamily(3)
 
60

 
 
 
 N/A

 
 
 
89

 
 
 
149

 
 
189,084

 
189,233

 
 

 
 
823

Total
 
$
34,867

 
 
 
$
10,352

 
 
 
$
54,008

 
 
 
$
99,227

 
 
$
2,948,567

 
$
3,047,794

 
 
$
374

 
 
$
64,645

__________
(1) 
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.
(2) 
Primarily consists of reverse mortgages which, due to their nature, are not aged and are included in the current column.
(3) 
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 March 31, 2015 and December 31, 2014, and average recorded investment and interest income recognized for the three months ended March 31, 2015 and 2014, for individually impaired loans.
 
As of
 
 
March 31, 2015
 
December 31, 2014
 
 
Unpaid Principal Balance
 
Total Recorded Investment
 
Related Allowance for Loan Losses
 
Unpaid Principal Balance
 
Total Recorded Investment
 
Related Allowance for Loan Losses
 
Related Allowance for Accrued Interest Receivable
 
(Dollars in millions)
 
Individually impaired loans:
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
With related allowance recorded:
 
 
 
 
 
  

 
 
 
 
 
 
 
 
 
 
 
  

 
 
 
 
 
 
 
 
 
Single-family:
 
 
 
 
 
  

 
 
 
 
 
 
 
 
 
 
 
  

 
 
 
 
 
 
 
 
 
Primary
 
$
122,873

 
 
 
$
116,908

 
 
 
$
18,954

 
 
 
$
125,960

 
 
 
$
120,221

 
 
 
$
20,327

 
 
 
$
309

 
Government
 
282

 
 
 
286

 
 
 
58

 
 
 
281

 
 
 
285

 
 
 
46

 
 
 
12

 
Alt-A
 
33,719

 
 
 
30,954

 
 
 
6,935

 
 
 
35,492

 
 
 
32,816

 
 
 
7,778

 
 
 
136

 
Other
 
13,896

 
 
 
13,165

 
 
 
2,715

 
 
 
14,667

 
 
 
13,947

 
 
 
3,049

 
 
 
38

 
Total single-family
 
170,770

 
 
 
161,313

 
 
 
28,662

 
 
 
176,400

 
 
 
167,269

 
 
 
31,200

 
 
 
495

 
Multifamily
 
1,210

 
 
 
1,217

 
 
 
146

 
 
 
1,230

 
 
 
1,241

 
 
 
175

 
 
 
6

 
Total individually impaired loans with related allowance recorded
 
171,980

 
 
 
162,530

 
 
 
28,808

 
 
 
177,630

 
 
 
168,510

 
 
 
31,375

 
 
 
501

 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
With no related allowance recorded:(1)
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
Single-family:
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
Primary
 
18,139

 
 
 
16,349

 
 
 

 
 
 
16,704

 
 
 
14,876

 
 
 

 
 
 

 
Government
 
60

 
 
 
55

 
 
 

 
 
 
61

 
 
 
57

 
 
 

 
 
 

 
Alt-A
 
4,737

 
 
 
3,881

 
 
 

 
 
 
3,993

 
 
 
3,119

 
 
 

 
 
 

 
Other
 
1,540

 
 
 
1,358

 
 
 

 
 
 
1,240

 
 
 
1,056

 
 
 

 
 
 

 
Total single-family
 
24,476

 
 
 
21,643

 
 
 

 
 
 
21,998

 
 
 
19,108

 
 
 

 
 
 

 
Multifamily
 
511

 
 
 
513

 
 
 

 
 
 
565

 
 
 
568

 
 
 

 
 
 

 
Total individually impaired loans with no related allowance recorded
 
24,987

 
 
 
22,156

 
 
 

 
 
 
22,563

 
 
 
19,676

 
 
 

 
 
 

 
Total individually impaired loans(2)
 
$
196,967

 
 
 
$
184,686

 
 
 
$
28,808

 
 
 
$
200,193

 
 
 
$
188,186

 
 
 
$
31,375

 
 
 
$
501

 
 
For the Three Months Ended March 31,
 
2015
 
2014
 
Average Recorded Investment
 
Total Interest Income Recognized(3)
 
Interest Income Recognized on a Cash Basis
 
Average Recorded Investment
 
Total Interest Income Recognized(3)
 
Interest Income Recognized on a Cash Basis
 
(Dollars in millions)
Individually impaired loans:
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
With related allowance recorded:
 
 
 
 
 
  

 
 
 
 
 
 
 
 
 
 
 
  

 
 
 
 
 
Single-family:
 
 
 
 
 
  

 
 
 
 
 
 
 
 
 
 
 
  

 
 
 
 
 
Primary
 
$
117,721

 
 
 
$
1,034

 
 
 
$
104

 
 
 
$
123,465

 
 
 
$
1,094

 
 
 
$
140

 
Government
 
282

 
 
 
3

 
 
 

 
 
 
238

 
 
 
3

 
 
 

 
Alt-A
 
31,491

 
 
 
251

 
 
 
17

 
 
 
34,337

 
 
 
270

 
 
 
28

 
Other
 
13,416

 
 
 
94

 
 
 
7

 
 
 
14,910

 
 
 
103

 
 
 
11

 
Total single-family
 
162,910

 
 
 
1,382

 
 
 
128

 
 
 
172,950

 
 
 
1,470

 
 
 
179

 
Multifamily
 
1,229

 
 
 
3

 
 
 

 
 
 
2,086

 
 
 
23

 
 
 

 
Total individually impaired loans with related allowance recorded
 
164,139

 
 
 
1,385

 
 
 
128

 
 
 
175,036

 
 
 
1,493

 
 
 
179

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
With no related allowance recorded:(1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
Primary
 
16,249

 
 
 
247

 
 
 
41

 
 
 
12,646

 
 
 
185

 
 
 
48

 
Government
 
59

 
 
 
1

 
 
 

 
 
 
93

 
 
 
1

 
 
 

 
Alt-A
 
3,736

 
 
 
44

 
 
 
7

 
 
 
2,520

 
 
 
41

 
 
 
10

 
Other
 
1,301

 
 
 
18

 
 
 
2

 
 
 
891

 
 
 
11

 
 
 
2

 
Total single-family
 
21,345

 
 
 
310

 
 
 
50

 
 
 
16,150

 
 
 
238

 
 
 
60

 
Multifamily
 
541

 
 
 
1

 
 
 

 
 
 
1,826

 
 
 
20

 
 
 

 
Total individually impaired loans with no related allowance recorded
 
21,886

 
 
 
311

 
 
 
50

 
 
 
17,976

 
 
 
258

 
 
 
60

 
Total individually impaired loans(2)
 
$
186,025

 
 
 
$
1,696

 
 
 
$
178

 
 
 
$
193,012

 
 
 
$
1,751

 
 
 
$
239

 
__________
(1) 
The discounted cash flows or collateral value equals or exceeds the carrying value of the loan and, as such, no valuation allowance is required.
(2) 
Includes single-family loans restructured in a TDR with a recorded investment of $181.9 billion and $185.2 billion as of March 31, 2015 and December 31, 2014, respectively. Includes multifamily loans restructured in a TDR with a recorded investment of $705 million and $716 million as of March 31, 2015 and December 31, 2014, respectively.
(3) 
Total single-family interest income recognized of $1.7 billion for the three months ended March 31, 2015 consists of $1.4 billion of contractual interest and $276 million of effective yield adjustments. Total single-family interest income recognized of $1.7 billion for the three months ended March 31, 2014 consists of $1.4 billion of contractual interest and $275 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, 2015 and 2014.
 
For the Three Months Ended March 31,
 
2015
 
2014
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(Dollars in millions)
Single-family:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Primary
 
21,407

 
 
 
$
2,945

 
 
 
28,842

 
 
 
$
4,110

 
Government
 
74

 
 
 
8

 
 
 
62

 
 
 
8

 
 Alt-A
 
2,789

 
 
 
438

 
 
 
4,396

 
 
 
740

 
Other
 
590

 
 
 
108

 
 
 
1,038

 
 
 
219

 
Total single-family
 
24,860

 
 
 
3,499

 
 
 
34,338

 
 
 
5,077

 
Multifamily
 
3

 
 
 
5

 
 
 
6

 
 
 
34

 
Total troubled debt restructurings
 
24,863

 
 
 
$
3,504

 
 
 
34,344

 
 
 
$
5,111

 
The following table displays the number of loans and our recorded investment in these loans at the time of payment default for the three months ended March 31, 2015 and 2014 for loans that 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 March 31,
 
2015
 
2014
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(Dollars in millions)
Single-family:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Primary
 
6,723

 
 
 
$
1,003

 
 
 
8,598

 
 
 
$
1,310

 
Government
 
20

 
 
 
3

 
 
 
18

 
 
 
2

 
Alt-A
 
1,153

 
 
 
203

 
 
 
1,444

 
 
 
260

 
Other
 
304

 
 
 
66

 
 
 
504

 
 
 
115

 
Total single-family
 
8,200

 
 
 
1,275

 
 
 
10,564

 
 
 
1,687

 
Multifamily
 
2

 
 
 
4

 
 
 
4

 
 
 
14

 
Total TDRs that subsequently defaulted
 
8,202

 
 
 
$
1,279

 
 
 
10,568

 
 
 
$
1,701

 
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 by class and credit quality indicator as of March 31, 2015 and December 31, 2014, excluding loans for which we have elected the fair value option.
  
As of
  
March 31, 2015(1)
 
December 31, 2014(1)
  
Primary
 
Alt-A
 
Other
 
Primary
 
Alt-A
 
Other
  
(Dollars in millions) 
Estimated mark-to-market loan-to-value ratio:(2)
  
 
 
 
 
  
 
 
  
 
 
 
 
  
 
Less than or equal to 80% 
$
2,126,305

 
$
58,557

 
 
$
21,584

 
 
$
2,156,165

 
$
60,851

 
 
$
22,558

 
Greater than 80%  and less than or equal to 90%
270,619

 
14,661

 
 
5,756

 
 
261,709

 
15,151

 
 
6,046

 
Greater than 90%  and less than or equal to 100%
154,066

 
12,135

 
 
5,023

 
 
140,778

 
12,490

 
 
5,236

 
Greater than 100% and less than or equal to 110%
43,305

 
8,503

 
 
3,692

 
 
43,014

 
8,998

 
 
3,900

 
Greater than 110%  and less than or equal to 120%
23,264

 
5,707

 
 
2,517

 
 
23,439

 
6,033

 
 
2,615

 
Greater than 120%  and less than or equal to 125%
7,445

 
2,000

 
 
848

 
 
7,529

 
2,114

 
 
904

 
Greater than 125% 
23,367

 
6,731

 
 
2,873

 
 
23,586

 
7,124

 
 
3,000

 
Total 
$
2,648,371

 
$
108,294

 
 
$
42,293

 
 
$
2,656,220

 
$
112,761

 
 
$
44,259

 
__________
(1) 
Excludes $44.6 billion and $45.3 billion as of March 31, 2015 and December 31, 2014, 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 loan-to-value (“LTV”) ratio.
(2) 
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 by credit quality indicator as of March 31, 2015 and December 31, 2014, excluding loans for which we have elected the fair value option.
  
As of
  
March 31,
 
December 31,
 
2015
 
2014
  
(Dollars in millions) 
Credit risk profile by internally assigned grade:(1)
 
  
 
 
 
 
 
Pass
 
$
186,052

 
 
 
$
182,079

 
Special Mention
 
3,015

 
 
 
3,070

 
Substandard
 
3,953

 
 
 
3,842

 
Doubtful
 
8

 
 
 
242

 
Total
 
$
193,028

 
 
 
$
189,233

 
_________
(1) 
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 the 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).