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Investments in Securities (Tables)
 3 Months Ended
Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Investments In Trading Securities [Table Text Block]
The following table displays our investments in trading securities.
 
As of
 
March 31, 2016
 
December 31, 2015
 
(Dollars in millions)
Mortgage-related securities:
 
 
 
 
 
 
 
Fannie Mae
 
$
5,426

 
 
 
$
4,813

 
Freddie Mac
 
867

 
 
 
1,314

 
Ginnie Mae
 
434

 
 
 
426

 
Alt-A private-label securities
 
307

 
 
 
436

 
Subprime private-label securities
 
406

 
 
 
644

 
Commercial mortgage-backed securities (“CMBS”)
 
1,451

 
 
 
2,341

 
Mortgage revenue bonds
 
363

 
 
 
449

 
Total mortgage-related securities
 
9,254

 
 
 
10,423

 
U.S. Treasury securities
 
30,746

 
 
 
29,485

 
Total trading securities
 
$
40,000

 
 
 
$
39,908

 
Schedule of Realized Gain (Loss) [Table Text Block]
The following table displays the gross realized gains, losses and proceeds on sales of AFS securities.
 
For the Three
 
Months Ended
 
March 31,
 
2016
 
2015
 
(Dollars in millions)

Gross realized gains
$
211

 
$
400

Gross realized losses
4

 
7

Total proceeds (excludes initial sale of securities from new portfolio securitizations)
3,622

 
2,112
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]
The following tables display the amortized cost, gross unrealized gains and losses, and fair value by major security type for AFS securities in our retained mortgage portfolio.
 
As of March 31, 2016
 
Total Amortized Cost(1)
 
Gross Unrealized Gains
 
Gross Unrealized Losses(2)
 
 
Total Fair Value
 
(Dollars in millions)
Fannie Mae
 
$
3,719

 
 
 
$
224

 
 
 
$
(30
)
 
 
 
$
3,913

Freddie Mac
 
3,449

 
 
 
252

 
 
 
—

 
 
 
3,701

Ginnie Mae
 
221

 
 
 
33

 
 
 
—

 
 
 
254

Alt-A private-label securities
 
1,356

 
 
 
569

 
 
 
(5
)
 
 
 
1,920

Subprime private-label securities
 
1,929

 
 
 
620

 
 
 
(5
)
 
 
 
2,544

CMBS
 
1,131

 
 
 
17

 
 
 
(1
)
 
 
 
1,147

Mortgage revenue bonds
 
2,473

 
 
 
100

 
 
 
(9
)
 
 
 
2,564

Other mortgage-related securities
 
921

 
 
 
19

 
 
 
—

 
 
 
940

Total
 
$
15,199

 
 
 
$
1,834

 
 
 
$
(50
)
 
 
 
$
16,983

 
As of December 31, 2015
 
Total Amortized Cost(1)
 
Gross Unrealized Gains
 
Gross Unrealized Losses(2)
 
 
Total Fair Value
 
(Dollars in millions)
Fannie Mae
 
$
4,008

 
 
 
$
243

 
 
 
$
(30
)
 
 
 
$
4,221

Freddie Mac
 
4,000

 
 
 
299

 
 
 
—

 
 
 
4,299

Ginnie Mae
 
343

 
 
 
48

 
 
 
—

 
 
 
391

Alt-A private-label securities
 
2,029

 
 
 
653

 
 
 
(4
)
 
 
 
2,678

Subprime private-label securities
 
2,526

 
 
 
759

 
 
 
(4
)
 
 
 
3,281

CMBS
 
1,235

 
 
 
20

 
 
 
—

 
 
 
1,255

Mortgage revenue bonds
 
2,639

 
 
 
99

 
 
 
(37
)
 
 
 
2,701

Other mortgage-related securities
 
1,361

 
 
 
49

 
 
 
(6
)
 
 
 
1,404

Total
 
$
18,141

 
 
 
$
2,170

 
 
 
$
(81
)
 
 
 
$
20,230

__________
(1) 
Amortized cost consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments as well as net other-than-temporary impairments (“OTTI”) recognized in “Investment gains, net” in our condensed consolidated statements of operations and comprehensive income.
(2) 
Represents the gross unrealized losses on securities for which we have not recognized OTTI, as well as the noncredit component of OTTI and cumulative changes in fair value of securities for which we previously recognized the credit component of OTTI in “Accumulated other comprehensive income” in our condensed consolidated balance sheets.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]
The following tables display additional information regarding gross unrealized losses and fair value by major security type for AFS securities in an unrealized loss position.
 
As of March 31, 2016
 
Less Than 12 Consecutive Months
 
12 Consecutive Months or Longer
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
(Dollars in millions)
Fannie Mae
 
$
(2
)
 
 
$
288

 
 
$
(28
)
 
 
$
540

Alt-A private-label securities
 
(1
)
 
 
70

 
 
(4
)
 
 
52

Subprime private-label securities
 
—

 
 
—

 
 
(5
)
 
 
86

CMBS
 
(1
)
 
 
96

 
 
—

 
 
—

Mortgage revenue bonds
 
(8
)
 
 
370

 
 
(1
)
 
 
20

Total
 
$
(12
)
 
 
$
824

 
 
$
(38
)
 
 
$
698

 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
Less Than 12 Consecutive Months
 
12 Consecutive Months or Longer
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
(Dollars in millions)
Fannie Mae
 
$
(8
)
 
 
$
659

 
 
$
(22
)
 
 
$
491

Alt-A private-label securities
 
(1
)
 
 
26

 
 
(3
)
 
 
54

Subprime private-label securities
 
—

 
 
12

 
 
(4
)
 
 
91

Mortgage revenue bonds
 
(35
)
 
 
631

 
 
(2
)
 
 
22

Other mortgage-related securities
 
(6
)
 
 
224

 
 
—

 
 
—

Total
 
$
(50
)
 
 
$
1,552

 
 
$
(31
)
 
 
$
658
Schedule of Modeled Attributes Used to Determine Potential Cash Shortfalls [Table Text Block]
The following table displays the modeled attributes, including default rates and severities, which were used to determine as of March 31, 2016 whether our senior interests in certain non-agency mortgage-related securities (including those we intend to sell) will experience a cash shortfall. An estimate of voluntary prepayment rates is also an input to the present value of expected losses.
 
As of March 31, 2016
 
 
 
Alt-A
 
Subprime
 
Option ARM
 
Fixed Rate
 
Variable Rate
 
Hybrid Rate
 
(Dollars in millions)
 
Unpaid principal balance
$
3,531

 
 
$
385

 
 
 
$
535

 
 
 
$
652

 
 
 
$
720

 
Weighted average collateral default(1)
40.9
%
 
 
27.4
%
 
 
 
14.4
%
 
 
 
19.4
%
 
 
 
7.8
%
 
Weighted average collateral severities(2)
56.0

 
 
39.0

 
 
 
46.2

 
 
 
32.1

 
 
 
31.8

 
Weighted average voluntary prepayment rates(3)
2.6

 
 
8.0

 
 
 
11.0

 
 
 
8.7

 
 
 
13.1

 
Average credit enhancement(4)
14.9

 
 
3.9

 
 
 
6.5

 
 
 
4.3

 
 
 
1.6

 
__________

(1) 
The expected remaining cumulative default rate of the collateral pool backing the securities, as a percentage of the current collateral unpaid principal balance, weighted by security unpaid principal balance.
(2) 
The expected remaining loss given default of the collateral pool backing the securities, calculated as the ratio of remaining cumulative loss divided by cumulative defaults, weighted by security unpaid principal balance.
(3) 
The average monthly voluntary prepayment rate, weighted by security unpaid principal balance.
(4) 
The average percent current credit enhancement provided by subordination of other securities. Excludes excess interest projections and monoline bond insurance.
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block]
The following table displays activity related to the unrealized credit loss component on debt securities held by us and recognized in our condensed consolidated statements of operations and comprehensive income.
 
For the Three Months Ended March 31,
  
2016
 
2015
 
(Dollars in millions)
Balance, beginning of period
$
2,421

 
$
5,260

Additions for the credit component on debt securities for which OTTI was previously recognized
4

 
4

Reductions for securities no longer in portfolio at period end
(93
)
 
(1,093
)
Reductions for securities which we intend to sell or it is more likely than not that we will be required to sell before recovery of amortized cost basis
—

 
(1,369
)
Reductions for amortization resulting from changes in cash flows expected to be collected over the remaining life of the securities
(39
)
 
(58
)
Balance, end of period
$
2,293

 
$
2,744
Investments Classified by Contractual Maturity Date [Table Text Block]
The following table displays the amortized cost and fair value of our AFS securities by major security type and remaining contractual maturity, assuming no principal prepayments. The contractual maturity of mortgage-backed securities is not a reliable indicator of their expected life because borrowers generally have the right to prepay their obligations at any time.
  
As of March 31, 2016
 
Total Amortized Cost
 
Total
Fair
Value
 
One Year or Less
 
After One Year Through Five Years
 
After Five Years Through Ten Years
 
After Ten Years
 
 
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
  
(Dollars in millions)
Fannie Mae
 
$
3,719

 
 
$
3,913

 
 
$
—

 
 
$
—

 
 
$
94

 
 
$
96

 
 
$
104

 
 
$
112

 
 
$
3,521

 
 
$
3,705

Freddie Mac
 
3,449

 
 
3,701

 
 
1

 
 
1

 
 
158

 
 
163

 
 
291

 
 
319

 
 
2,999

 
 
3,218

Ginnie Mae
 
221

 
 
254

 
 
—

 
 
—

 
 
1

 
 
1

 
 
30

 
 
34

 
 
190

 
 
219

Alt-A private-label securities
 
1,356

 
 
1,920

 
 
—

 
 
—

 
 
—

 
 
—

 
 
—

 
 
—

 
 
1,356

 
 
1,920

Subprime private-label securities
 
1,929

 
 
2,544

 
 
—

 
 
—

 
 
—

 
 
—

 
 
—

 
 
—

 
 
1,929

 
 
2,544

CMBS
 
1,131

 
 
1,147

 
 
197

 
 
198

 
 
882

 
 
898

 
 
—

 
 
—

 
 
52

 
 
51

Mortgage revenue bonds
 
2,473

 
 
2,564

 
 
11

 
 
11

 
 
97

 
 
98

 
 
180

 
 
183

 
 
2,185

 
 
2,272

Other mortgage-related securities
 
921

 
 
940

 
 
—

 
 
—

 
 
—

 
 
1

 
 
3

 
 
3

 
 
918

 
 
936

Total
 
$
15,199

 
 
$
16,983

 
 
$
209

 
 
$
210

 
 
$
1,232

 
 
$
1,257

 
 
$
608

 
 
$
651

 
 
$
13,150

 
 
$
14,865