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Mortgage Loans (Tables)
12 Months Ended
Dec. 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 December 31,
 
2017
 
2016
 
(Dollars in millions)
Single-family
$
2,890,634

 
$
2,833,750

Multifamily
265,069

 
229,896

Total unpaid principal balance of mortgage loans
3,155,703

 
3,063,646

Cost basis and fair value adjustments, net
41,906

 
39,572

Allowance for loan losses for loans held for investment
(19,084
)
 
(23,465
)
Total mortgage loans
$
3,178,525

 
$
3,079,753

The following table displays the allowance for loan losses and recorded investment in our HFI loans by impairment or allowance methodology and portfolio segment, excluding loans for which we have elected the fair value option.
 
As of December 31,
 
2017
 
2016
 
Single-Family
 
Multifamily
 
Total
 
Single-Family
 
Multifamily
 
Total
 
(Dollars in millions)
Allowance for loan losses by segment: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually impaired loans(1)
$
(17,247
)
 
 
$
(42
)
 
 
$
(17,289
)
 
$
(21,920
)
 
 
$
(33
)
 
 
$
(21,953
)
Collectively reserved loans 
(1,602
)
 
 
(193
)
 
 
(1,795
)
 
(1,363
)
 
 
(149
)
 
 
(1,512
)
Total allowance for loan losses 
$
(18,849
)
 
 
$
(235
)
 
 
$
(19,084
)
 
$
(23,283
)
 
 
$
(182
)
 
 
$
(23,465
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Recorded investment in loans by segment:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually impaired loans(1)
$
135,191

 
 
$
590

 
 
$
135,781

 
$
155,598

 
 
$
589

 
 
$
156,187

Collectively reserved loans 
2,787,783

 
 
266,411

 
 
3,054,194

 
2,708,337

 
 
231,292

 
 
2,939,629

Total recorded investment in loans 
$
2,922,974

 
 
$
267,001

 
 
$
3,189,975

 
$
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 December 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
 
$
35,582

 
 
 
$
10,396

 
 
 
$
23,999

 
 
 
$
69,977

 
 
$
2,732,818

 
$
2,802,795

 
 
$
87

 
 
$
37,971

Government(2)
 
55

 
 
 
21

 
 
 
206

 
 
 
282

 
 
30,807

 
31,089

 
 
206

 
 

Alt-A
 
3,186

 
 
 
1,147

 
 
 
3,418

 
 
 
7,751

 
 
59,475

 
67,226

 
 
5

 
 
5,094

Other
 
1,185

 
 
 
411

 
 
 
1,252

 
 
 
2,848

 
 
19,016

 
21,864

 
 
5

 
 
1,834

Total single-family
 
40,008

 
 
 
11,975

 
 
 
28,875

 
 
 
80,858

 
 
2,842,116

 
2,922,974

 
 
303

 
 
44,899

Multifamily(3)
 
26

 
 
 
N/A

 
 
 
276

 
 
 
302

 
 
266,699

 
267,001

 
 

 
 
424

Total
 
$
40,034

 
 
 
$
11,975

 
 
 
$
29,151

 
 
 
$
81,160

 
 
$
3,108,815

 
$
3,189,975

 
 
$
303

 
 
$
45,323

 
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 December 31,
 
2017
 
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
 
$
91,194

 
 
 
$
86,864

 
 
$
(11,652
)
 
 
$
105,113

 
 
 
$
99,825

 
 
$
(14,462
)
 
Government 
 
276

 
 
 
279

 
 
(56
)
 
 
302

 
 
 
305

 
 
(59
)
 
Alt-A 
 
23,077

 
 
 
21,045

 
 
(4,046
)
 
 
28,599

 
 
 
26,059

 
 
(5,365
)
 
Other 
 
8,488

 
 
 
8,006

 
 
(1,493
)
 
 
11,087

 
 
 
10,465

 
 
(2,034
)
 
Total single-family 
 
123,035

 
 
 
116,194

 
 
(17,247
)
 
 
145,101

 
 
 
136,654

 
 
(21,920
)
 
Multifamily
 
279

 
 
 
280

 
 
(42
)
 
 
320

 
 
 
323

 
 
(33
)
 
Total individually impaired loans with related allowance recorded
 
123,314

 
 
 
116,474

 
 
(17,289
)
 
 
145,421

 
 
 
136,977

 
 
(21,953
)
 
With no related allowance recorded:(1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Single-family: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Primary
 
16,027

 
 
 
15,158

 
 

 
 
15,733

 
 
 
14,758

 
 

 
Government
 
66

 
 
 
60

 
 

 
 
63

 
 
 
59

 
 

 
Alt-A
 
3,253

 
 
 
2,870

 
 

 
 
3,511

 
 
 
3,062

 
 

 
Other
 
988

 
 
 
909

 
 

 
 
1,159

 
 
 
1,065

 
 

 
Total single-family
 
20,334

 
 
 
18,997

 
 

 
 
20,466

 
 
 
18,944

 
 

 
Multifamily
 
308

 
 
 
310

 
 

 
 
266

 
 
 
266

 
 

 
Total individually impaired loans with no related allowance recorded
 
20,642

 
 
 
19,307

 
 

 
 
20,732

 
 
 
19,210

 
 

 
Total individually impaired loans(2)
 
$
143,956

 
 
 
$
135,781

 
 
$
(17,289
)
 
 
$
166,153

 
 
 
$
156,187

 
 
$
(21,953
)
 
 
For the Year Ended December 31,
 
2017
 
2016
 
2015
 
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
 
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
 
$
92,893

 
 
 
$
3,721

 
 
 
$
319

 
 
 
$
105,076

 
 
 
$
4,004

 
 
 
$
325

 
 
 
$
114,737

 
 
 
$
4,190

 
 
 
$
318

 
Government
 
292

 
 
 
10

 
 
 

 
 
 
314

 
 
 
12

 
 
 

 
 
 
299

 
 
 
12

 
 
 

 
Alt-A
 
23,536

 
 
 
929

 
 
 
56

 
 
 
27,512

 
 
 
1,010

 
 
 
54

 
 
 
30,453

 
 
 
1,034

 
 
 
54

 
Other
 
9,158

 
 
 
318

 
 
 
19

 
 
 
11,382

 
 
 
365

 
 
 
20

 
 
 
12,863

 
 
 
376

 
 
 
21

 
Total single-family
 
125,879

 
 
 
4,978

 
 
 
394

 
 
 
144,284

 
 
 
5,391

 
 
 
399

 
 
 
158,352

 
 
 
5,612

 
 
 
393

 
Multifamily
 
273

 
 
 
9

 
 
 

 
 
 
508

 
 
 
29

 
 
 

 
 
 
973

 
 
 
16

 
 
 

 
Total individually impaired loans with related allowance recorded
 
126,152

 
 
 
4,987

 
 
 
394

 
 
 
144,792

 
 
 
5,420

 
 
 
399

 
 
 
159,325

 
 
 
5,628

 
 
 
393

 
With no related allowance recorded:(1)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Single-family: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Primary
 
15,166

 
 
 
1,107

 
 
 
96

 
 
 
15,293

 
 
 
1,236

 
 
 
91

 
 
 
15,796

 
 
 
1,039

 
 
 
91

 
Government
 
61

 
 
 
3

 
 
 

 
 
 
59

 
 
 
4

 
 
 

 
 
 
55

 
 
 
4

 
 
 

 
Alt-A
 
3,000

 
 
 
270

 
 
 
13

 
 
 
3,293

 
 
 
309

 
 
 
9

 
 
 
3,647

 
 
 
218

 
 
 
11

 
Other
 
997

 
 
 
84

 
 
 
4

 
 
 
1,116

 
 
 
108

 
 
 
3

 
 
 
1,259

 
 
 
75

 
 
 
3

 
Total single-family
 
19,224

 
 
 
1,464

 
 
 
113

 
 
 
19,761

 
 
 
1,657

 
 
 
103

 
 
 
20,757

 
 
 
1,336

 
 
 
105

 
Multifamily
 
297

 
 
 
19

 
 
 

 
 
 
317

 
 
 
13

 
 
 

 
 
 
442

 
 
 
10

 
 
 

 
Total individually impaired loans with no related allowance recorded
 
19,521

 
 
 
1,483

 
 
 
113

 
 
 
20,078

 
 
 
1,670

 
 
 
103

 
 
 
21,199

 
 
 
1,346

 
 
 
105

 
Total individually impaired loans
 
$
145,673

 
 
 
$
6,470

 
 
 
$
507

 
 
 
$
164,870

 
 
 
$
7,090

 
 
 
$
502

 
 
 
$
180,524

 
 
 
$
6,974

 
 
 
$
498

 
__________
(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 $134.7 billion and $155.0 billion as of December 31, 2017 and 2016, respectively. Includes multifamily loans restructured in a TDR with a recorded investment of $185 million and $248 million as of December 31, 2017 and 2016, respectively.
(3) 
Total single-family interest income recognized of $6.4 billion for the year ended December 31, 2017 consists of $5.5 billion of contractual interest and $925 million of effective yield adjustments. Total single-family interest income recognized of $7.0 billion for the year ended December 31, 2016 consists of $5.7 billion of contractual interest and $1.3 billion of effective yield adjustments. Total single-family interest income recognized of $6.9 billion for the year ended December 31, 2015 consists of $5.7 billion of contractual interest and $1.2 billion 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 Year Ended December 31,
 
 
2017
 
 
2016
 
 
2015
 
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(Dollars in millions)
 
Single-family:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Primary
 
59,708

 
 
 
$
8,247

 
 
 
61,586

 
 
 
$
8,405

 
 
 
71,293

 
 
 
$
9,713

 
Government
 
171

 
 
 
18

 
 
 
186

 
 
 
20

 
 
 
241

 
 
 
27

 
Alt-A 
 
5,369

 
 
 
771

 
 
 
6,647

 
 
 
946

 
 
 
9,037

 
 
 
1,374

 
Other
 
1,158

 
 
 
207

 
 
 
1,381

 
 
 
244

 
 
 
1,835

 
 
 
333

 
Total single-family 
 
66,406

 
 
 
9,243

 
 
 
69,800

 
 
 
9,615

 
 
 
82,406

 
 
 
11,447

 
Multifamily 
 
8

 
 
 
99

 
 
 
11

 
 
 
66

 
 
 
12

 
 
 
40

 
Total TDRs
 
66,414

 
 
 
$
9,342

 
 
 
69,811

 
 
 
$
9,681

 
 
 
82,418

 
 
 
$
11,487

 
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 Year Ended December 31,
 
 
2017
 
 
2016
 
 
2015
 
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
Number of Loans
 
Recorded Investment
 
(Dollars in millions)
 
Single-family:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Primary
 
19,539

 
 
 
$
2,722

 
 
 
20,810

 
 
 
$
2,938

 
 
 
26,206

 
 
 
$
3,808

 
Government
 
91

 
 
 
10

 
 
 
95

 
 
 
11

 
 
 
118

 
 
 
16

 
Alt-A 
 
2,588

 
 
 
400

 
 
 
3,131

 
 
 
500

 
 
 
4,128

 
 
 
706

 
Other
 
760

 
 
 
145

 
 
 
1,002

 
 
 
172

 
 
 
1,229

 
 
 
247

 
Total single-family 
 
22,978

 
 
 
3,277

 
 
 
25,038

 
 
 
3,621

 
 
 
31,681

 
 
 
4,777

 
Multifamily
 
2

 
 
 
12

 
 
 
5

 
 
 
46

 
 
 
3

 
 
 
6

 
Total TDRs that subsequently defaulted 
 
22,980

 
 
 
$
3,289

 
 
 
25,043

 
 
 
$
3,667

 
 
 
31,684

 
 
 
$
4,783

 
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 December 31, 
 
2017(1)
 
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%
$
2,439,858

 
$
51,903

 
$
16,428
 
 
$
2,321,201

 
$
56,250

 
$
19,382
 
Greater than 80% and less than or equal to 90%
238,038

 
6,680

 
2,277
 
 
244,231

 
9,787

 
3,657
 
Greater than 90% and less than or equal to 100%
106,076

 
4,044

 
1,443
 
 
114,412

 
6,731

 
2,627
 
Greater than 100%
18,823

 
4,599

 
1,716
 
 
35,653

 
9,179

 
3,677
 
Total
$
2,802,795

 
$
67,226

 
$
21,864
 
 
$
2,715,497

 
$
81,947

 
$
29,343
 
__________
(1) 
Excludes $31.1 billion and $37.1 billion as of December 31, 2017 and 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 December 31,
  
2017
 
2016
 
(Dollars in millions)
Credit risk profile by internally assigned grade:
  
 
 
 
Non-classified
$
263,416
 
 
$
228,749
 
Classified:(1)
 
 
 
Substandard
3,585
 
 
3,129
 
Doubtful
 
 
3
 
Total classified
3,585
 
 
3,132
 
Total
$
267,001
 
 
$
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.