Mortgage Loans (Tables)

3 Months Ended

Mar. 31, 2017

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, 2017			December 31, 2016
	(Dollars in millions)
Single-family	$	2,852,739		$	2,833,750
Multifamily	240,691			229,896
Total unpaid principal balance of mortgage loans	3,093,430			3,063,646
Cost basis and fair value adjustments, net	38,201			39,572
Allowance for loan losses for loans held for investment	(22,129		)	(23,465		)
Total mortgage loans	$	3,109,502		$	3,079,753

The following table displays the allowance for loan losses and recorded investment in our HFI loans, excluding loans for which we have elected the fair value option, by impairment or allowance methodology and portfolio segment.



	As of
	March 31, 2017							December 31, 2016
	Single-Family		Multifamily			Total		Single-Family		Multifamily			Total
	(Dollars in millions)
Allowance for loan losses by segment:
Individually impaired loans⁽¹⁾	$	20,731		$	37	$	20,768	$	21,920		$	33	$	21,953
Collectively reserved loans	1,207			154		1,361		1,363			149		1,512
Total allowance for loan losses	$	21,938		$	191	$	22,129	$	23,283		$	182	$	23,465

Recorded investment in loans by segment:
Individually impaired loans⁽¹⁾	$	150,606		$	599	$	151,205	$	155,598		$	589	$	156,187
Collectively reserved loans	2,729,240			242,005		2,971,245		2,708,337			231,292		2,939,629
Total recorded investment in loans	$	2,879,846		$	242,604	$	3,122,450	$	2,863,935		$	231,881	$	3,095,816

__________


⁽¹⁾	Includes acquired credit-impaired loans.

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 March 31, 2017
	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	$	24,067	$	6,468	$	19,363	$	49,898	$	2,688,070	$	2,737,968	$	19	$	29,929
Government⁽²⁾	47		16		237		300		35,931		36,231		237		—
Alt-A	3,119		1,006		3,753		7,878		70,426		78,304		2		5,421
Other	1,131		371		1,378		2,880		24,463		27,343		5		1,985
Total single-family	28,364		7,861		24,731		60,956		2,818,890		2,879,846		263		37,335
Multifamily⁽³⁾	25		N/A		114		139		242,465		242,604		—		383
Total	$	28,389	$	7,861	$	24,845	$	61,095	$	3,061,355	$	3,122,450	$	263	$	37,718



	As of December 31, 2016
	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	$	31,631	$	7,910	$	21,761	$	61,302	$	2,654,195	$	2,715,497	$	22	$	33,448
Government⁽²⁾	56		22		256		334		36,814		37,148		256		—
Alt-A	3,629		1,194		4,221		9,044		72,903		81,947		2		6,019
Other	1,349		438		1,582		3,369		25,974		29,343		5		2,238
Total single-family	36,665		9,564		27,820		74,049		2,789,886		2,863,935		285		41,705
Multifamily⁽³⁾	44		N/A		129		173		231,708		231,881		—		403
Total	$	36,709	$	9,564	$	27,949	$	74,222	$	3,021,594	$	3,095,816	$	285	$	42,108

__________


⁽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
	March 31, 2017									December 31, 2016
	Unpaid Principal Balance			Total Recorded Investment			Related Allowance for Loan Losses			Unpaid Principal Balance			Total Recorded Investment			Related Allowance for Loan Losses
	(Dollars in millions)
Individually impaired loans:
With related allowance recorded:
Single-family:
Primary		$	101,570		$	96,469		$	13,746		$	105,113		$	99,825		$	14,462
Government		296			299			58			302			305			59
Alt-A		27,380			24,912			5,053			28,599			26,059			5,365
Other		10,312			9,724			1,874			11,087			10,465			2,034
Total single-family		139,558			131,404			20,731			145,101			136,654			21,920
Multifamily		298			300			37			320			323			33
Total individually impaired loans with related allowance recorded		139,856			131,704			20,768			145,421			136,977			21,953
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		15,917			15,023			—			15,733			14,758			—
Government		65			60			—			63			59			—
Alt-A		3,494			3,075			—			3,511			3,062			—
Other		1,130			1,044			—			1,159			1,065			—
Total single-family		20,606			19,202			—			20,466			18,944			—
Multifamily		298			299			—			266			266			—
Total individually impaired loans with no related allowance recorded		20,904			19,501			—			20,732			19,210			—
Total individually impaired loans⁽²⁾		$	160,760		$	151,205		$	20,768		$	166,153		$	156,187		$	21,953



	For the Three Months Ended March 31,
	2017									2016
	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		$	98,223		$	986		$	88		$	109,318		$	1,021		$	104
Government		301			3			—			323			3			—
Alt-A		25,550			249			15			28,665			253			19
Other		10,171			87			5			12,013			92			8
Total single-family		134,245			1,325			108			150,319			1,369			131
Multifamily		311			2			—			616			5			—
Total individually impaired loans with related allowance recorded		134,556			1,327			108			150,935			1,374			131
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		14,988			289			23			15,241			268			20
Government		61			1			—			57			1			—
Alt-A		3,087			73			3			3,367			62			3
Other		1,067			23			1			1,135			22			1
Total single-family		19,203			386			27			19,800			353			24
Multifamily		283			3			—			350			3			—
Total individually impaired loans with no related allowance recorded		19,486			389			27			20,150			356			24
Total individually impaired loans		$	154,042		$	1,716		$	135		$	171,085		$	1,730		$	155

__________


⁽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 $150.0 billion and $155.0 billion as of March 31, 2017 and December 31, 2016, respectively. Includes multifamily loans restructured in a TDR with a recorded investment of $244 million and $248 million as of March 31, 2017 and December 31, 2016, respectively.

⁽³⁾

Total single-family interest income recognized of $1.7 billion for the three months ended March 31, 2017 consists of $1.4 billion of contractual interest and $268 million of effective yield adjustments. Total single-family interest income recognized of $1.7 billion for the three months ended March 31, 2016 consists of $1.4 billion of contractual interest and $310 million of effective yield adjustments.

Troubled Debt Restructurings Activity [Table Text Block]

The following table displays the number of single-family loans and recorded investment in loans restructured in a TDR.



	For the Three Months Ended March 31,
	2017					2016
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Primary		17,235		$	2,363		17,190		$	2,332
Government		61		6			54		6
Alt-A		1,565		224			1,911		270
Other		309		53			399		72
Total TDRs⁽¹⁾		19,170		$	2,646		19,554		$	2,680

__________


⁽¹⁾	During the three months ended March 31, 2017 and 2016, there were no multifamily loans that were restructured in a TDR.

The following table displays 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 March 31,
	2017					2016
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		4,479		$	621		5,461		$	802
Government		19		2			15		2
Alt-A		614		96			852		144
Other		201		38			243		49
Total single-family		5,313		757			6,571		997
Multifamily		1		4			—		—
Total TDRs that subsequently defaulted		5,314		$	761		6,571		$	997

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
	March 31, 2017⁽¹⁾						December 31, 2016⁽¹⁾
	Primary		Alt-A		Other		Primary		Alt-A		Other
	(Dollars in millions)
Estimated mark-to-market LTV ratio:⁽²⁾
Less than or equal to 80%	$	2,334,050	$	54,618	$	18,508	$	2,321,201	$	56,250	$	19,382
Greater than 80%and less than or equal to 90%	249,910		9,225		3,297		244,231		9,787		3,657
Greater than 90%and less than or equal to 100%	120,954		6,175		2,336		114,412		6,731		2,627
Greater than 100%	33,054		8,286		3,202		35,653		9,179		3,677
Total	$	2,737,968	$	78,304	$	27,343	$	2,715,497	$	81,947	$	29,343

__________


⁽¹⁾	Excludes $36.2 billion and $37.1 billion as of March 31, 2017 and December 31, 2016, 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.


⁽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
	March 31,		December 31,
	2017		2016
	(Dollars in millions)
Credit risk profile by internally assigned grade:
Non-classified	$	239,265	$	228,749
Classified:⁽¹⁾
Substandard	3,336		3,129
Doubtful	3		3
Total classified	3,339		3,132
Total	$	242,604	$	231,881

_________


⁽¹⁾	A loan classified as “Substandard” has a well-defined weakness that jeopardizes the timely full repayment. “Doubtful” refers to a loan with a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions and values.