Mortgage Loans (Tables)

9 Months Ended

Sep. 30, 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
	September 30, 2015												December 31, 2014
	Of Fannie Mae				Of Consolidated Trusts				Total				Of Fannie Mae				Of Consolidated Trusts				Total
	(Dollars in millions)
Single-family		$	242,496			$	2,573,388			$	2,815,884			$	262,116			$	2,569,884			$	2,832,000
Multifamily		15,272				181,533				196,805				23,255				164,045				187,300
Total unpaid principal balance of mortgage loans		257,768				2,754,921				3,012,689				285,371				2,733,929				3,019,300
Cost basis and fair value adjustments, net		(12,789		)		49,691				36,902				(12,705		)		48,440				35,735
Allowance for loan losses for loans held for investment		(27,655		)		(1,480		)		(29,135		)		(33,117		)		(2,424		)		(35,541		)
Total mortgage loans		$	217,324			$	2,803,132			$	3,020,456			$	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, excluding loans for which we have elected the fair value option.



	As of September 30, 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		$	29,574		$	7,766		$	28,417		$	65,757	$	2,594,488	$	2,660,245		$	49	$	36,108
Government⁽²⁾		57			25			295			377		41,342		41,719			295		—
Alt-A		4,126			1,291			7,407			12,824		87,525		100,349			7		8,690
Other		1,562			489			2,447			4,498		33,730		38,228			7		2,922
Total single-family		35,319			9,571			38,566			83,456		2,757,085		2,840,541			358		47,720
Multifamily⁽³⁾		37			N/A			88			125		198,574		198,699			—		679
Total		$	35,356		$	9,571		$	38,654		$	83,581	$	2,955,659	$	3,039,240		$	358	$	48,399



	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, related allowance, average recorded investment and interest income recognized for individually impaired loans.



	As of
	September 30, 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		$	118,495		$	112,430		$	17,374		$	125,960		$	120,221		$	20,327		$	309
Government		324			329			62			281			285			46			12
Alt-A		32,593			29,777			6,454			35,492			32,816			7,778			136
Other		13,217			12,489			2,514			14,667			13,947			3,049			38
Total single-family		164,629			155,025			26,404			176,400			167,269			31,200			495
Multifamily		788			793			113			1,230			1,241			175			6
Total individually impaired loans with related allowance recorded		165,417			155,818			26,517			177,630			168,510			31,375			501

With no related allowance recorded:⁽¹⁾
Single-family:
Primary		16,930			15,600			—			16,704			14,876			—			—
Government		60			56			—			61			57			—			—
Alt-A		4,235			3,580			—			3,993			3,119			—			—
Other		1,356			1,218			—			1,240			1,056			—			—
Total single-family		22,581			20,454			—			21,998			19,108			—			—
Multifamily		364			366			—			565			568			—			—
Total individually impaired loans with no related allowance recorded		22,945			20,820			—			22,563			19,676			—			—
Total individually impaired loans⁽²⁾		$	188,362		$	176,638		$	26,517		$	200,193		$	188,186		$	31,375		$	501



	For the Three Months Ended September 30,
	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		$	113,634		$	1,090		$	71		$	121,246		$	1,077		$	111
Government		299			3			—			285			3			—
Alt-A		30,041			272			14			33,458			268			24
Other		12,652			95			6			14,346			100			8
Total single-family		156,626			1,460			91			169,335			1,448			143
Multifamily		878			9			—			1,540			17			—
Total individually impaired loans with related allowance recorded		157,504			1,469			91			170,875			1,465			143

With no related allowance recorded:⁽¹⁾
Single-family:
Primary		15,627			279			16			14,442			226			56
Government		53			1			—			55			1			—
Alt-A		3,674			64			1			2,887			51			14
Other		1,259			21			—			1,008			16			3
Total single-family		20,613			365			17			18,392			294			73
Multifamily		386			5			—			1,572			18			—
Total individually impaired loans with no related allowance recorded		20,999			370			17			19,964			312			73
Total individually impaired loans⁽²⁾		$	178,503		$	1,839		$	108		$	190,839		$	1,777		$	216



	For the Nine Months Ended September 30,
	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		$	115,762		$	3,152		$	248		$	122,443		$	3,264		$	372
Government		290			9			—			266			9			—
Alt-A		30,760			774			41			33,926			805			74
Other		13,030			282			15			14,635			305			28
Total single-family		159,842			4,217			304			171,270			4,383			474
Multifamily		1,053			15			—			1,813			63			—
Total individually impaired loans with related allowance recorded		160,895			4,232			304			173,083			4,446			474

With no related allowance recorded:⁽¹⁾
Single-family:
Primary		15,967			779			76			13,514			616			157
Government		55			3			—			70			4			—
Alt-A		3,720			158			8			2,687			135			34
Other		1,287			56			2			945			40			8
Total single-family		21,029			996			86			17,216			795			199
Multifamily		463			8			—			1,698			58			—
Total individually impaired loans with no related allowance recorded		21,492			1,004			86			18,914			853			199
Total individually impaired loans⁽²⁾		$	182,387		$	5,236		$	390		$	191,997		$	5,299		$	673

__________


⁽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 $174.6 billion and $185.2 billion as of September 30, 2015 and December 31, 2014 respectively. Includes multifamily loans restructured in a TDR with a recorded investment of $490 million and $716 million as of September 30, 2015 and December 31, 2014, respectively.

⁽³⁾

Total single-family interest income recognized of $1.8 billion for the three months ended September 30, 2015 and 2014 consists of $1.5 billion and $1.4 billion of contractual interest, respectively, and $327 million and $297 million of effective yield adjustments, respectively. Total single-family interest income recognized of $5.2 billion for the nine months ended September 30, 2015 and 2014 consists of $4.3 billion of contractual interest for both periods and $907 million and $857 million of effective yield adjustments, respectively.

Troubled Debt Restructurings Activity [Table Text Block]

The following tables display the number of loans and recorded investment in loans restructured in a TDR.



	For the Three Months Ended September 30,
	2015					2014
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		14,926		$	2,021		23,057		$	3,270
Government		54		6			91		12
Alt-A		1,805		268			3,175		521
Other		324		57			698		142
Total single-family		17,109		2,352			27,021		3,945
Multifamily		3		10			7		811
Total troubled debt restructurings		17,112		$	2,362		27,028		$	4,756



	For the Nine Months Ended September 30,
	2015					2014
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		54,284		$	7,443		76,831		$	10,944
Government		192		22			264		33
Alt-A		7,127		1,101			11,231		1,875
Other		1,453		265			2,608		540
Total single-family		63,056		8,831			90,934		13,392
Multifamily		7		16			16		849
Total troubled debt restructurings		63,063		$	8,847		90,950		$	14,241

The following tables display the number of loans and our recorded investment in these loans at the time of payment default 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 September 30,
	2015					2014
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		6,847		$	1,003		8,798		$	1,312
Government		31		3			38		6
Alt-A		1,052		183			1,372		241
Other		328		65			438		100
Total single-family		8,258		1,254			10,646		1,659
Multifamily		—		—			1		5
Total TDRs that subsequently defaulted		8,258		$	1,254		10,647		$	1,664



	For the Nine Months Ended September 30,
	2015					2014
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		19,726		$	2,870		25,586		$	3,873
Government		88		12			74		9
Alt-A		3,168		537			4,212		753
Other		922		186			1,362		304
Total single-family		23,904		3,605			31,234		4,939
Multifamily		3		6			6		22
Total TDRs that subsequently defaulted		23,907		$	3,611		31,240		$	4,961

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, excluding loans for which we have elected the fair value option.



	As of
	September 30, 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%	$	2,248,367	$	61,367		$	22,263	$	2,156,165	$	60,851		$	22,558
Greater than 80%and less than or equal to 90%	240,860		13,188			5,197		261,709		15,151			6,046
Greater than 90%and less than or equal to 100%	108,540		9,758			4,020		140,778		12,490			5,236
Greater than 100%and less than or equal to 110%	28,684		6,528			2,787		43,014		8,998			3,900
Greater than 110% and less than or equal to 120%	15,115		4,018			1,699		23,439		6,033			2,615
Greater than 120% and less than or equal to 125%	4,706		1,295			552		7,529		2,114			904
Greater than 125%	13,973		4,195			1,710		23,586		7,124			3,000
Total	$	2,660,245	$	100,349		$	38,228	$	2,656,220	$	112,761		$	44,259

__________


⁽¹⁾	Excludes $41.7 billion and $45.3 billion as of September 30, 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, excluding loans for which we have elected the fair value option.



	As of
	September 30,			December 31,
	2015			2014
	(Dollars in millions)
Credit risk profile by internally assigned grade:⁽¹⁾
Pass		$	192,767		$	182,079
Special Mention		2,725			3,070
Substandard		3,203			3,842
Doubtful		4			242
Total		$	198,699		$	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).