Mortgage Loans (Tables)

3 Months Ended

Mar. 31, 2018

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, 2018			December 31, 2017
	(Dollars in millions)
Single-family	$	2,907,387		$	2,890,634
Multifamily	269,316			265,069
Total unpaid principal balance of mortgage loans	3,176,703			3,155,703
Cost basis and fair value adjustments, net	39,817			41,906
Allowance for loan losses for loans held for investment	(18,734		)	(19,084		)
Total mortgage loans	$	3,197,786		$	3,178,525

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
	March 31, 2018									December 31, 2017
	Single-Family			Multifamily			Total			Single-Family			Multifamily			Total
	(Dollars in millions)
Allowance for loan losses by segment:
Individually impaired loans⁽¹⁾	$	(17,426	)	$	(41	)	$	(17,467	)	$	(17,247	)	$	(42	)	$	(17,289	)
Collectively reserved loans	(1,097		)	(170		)	(1,267		)	(1,602		)	(193		)	(1,795		)
Total allowance for loan losses	$	(18,523	)	$	(211	)	$	(18,734	)	$	(18,849	)	$	(235	)	$	(19,084	)

Recorded investment in loans by segment:
Individually impaired loans⁽¹⁾	$	135,917		$	589		$	136,506		$	135,191		$	590		$	135,781
Collectively reserved loans	2,795,943			270,499			3,066,442			2,787,783			266,411			3,054,194
Total recorded investment in loans	$	2,931,860		$	271,088		$	3,202,948		$	2,922,974		$	267,001		$	3,189,975

__________


⁽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, 2018
	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	$	25,517	$	7,457	$	22,387	$	55,361	$	2,766,596	$	2,821,957	$	36	$	34,039
Government⁽²⁾	44		19		184		247		25,050		25,297		184		—
Alt-A	2,632		939		3,047		6,618		57,586		64,204		4		4,558
Other	915		350		1,126		2,391		18,011		20,402		3		1,658
Total single-family	29,108		8,765		26,744		64,617		2,867,243		2,931,860		227		40,255
Multifamily⁽³⁾	94		N/A		291		385		270,703		271,088		—		524
Total	$	29,202	$	8,765	$	27,035	$	65,002	$	3,137,946	$	3,202,948	$	227	$	40,779



	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

__________


⁽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, 2018										December 31, 2017
	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		$	93,426		$	89,354		$	(12,026	)		$	91,194		$	86,864		$	(11,652	)
Government		271			273			(55		)		276			279			(56		)
Alt-A		22,005			20,086			(3,907		)		23,077			21,045			(4,046		)
Other		8,044			7,588			(1,438		)		8,488			8,006			(1,493		)
Total single-family		123,746			117,301			(17,426		)		123,035			116,194			(17,247		)
Multifamily		235			236			(41		)		279			280			(42		)
Total individually impaired loans with related allowance recorded		123,981			117,537			(17,467		)		123,314			116,474			(17,289		)
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		15,672			14,878			—				16,027			15,158			—
Government		66			60			—				66			60			—
Alt-A		3,141			2,796			—				3,253			2,870			—
Other		951			882			—				988			909			—
Total single-family		19,830			18,616			—				20,334			18,997			—
Multifamily		351			353			—				308			310			—
Total individually impaired loans with no related allowance recorded		20,181			18,969			—				20,642			19,307			—
Total individually impaired loans⁽²⁾		$	144,162		$	136,506		$	(17,467	)		$	143,956		$	135,781		$	(17,289	)



	For the Three Months Ended March 31,
	2018									2017
	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		$	88,411		$	911		$	107		$	98,223		$	986		$	88
Government		276			3			—			301			3			—
Alt-A		20,708			212			16			25,550			249			15
Other		7,854			71			5			10,171			87			5
Total single-family		117,249			1,197			128			134,245			1,325			108
Multifamily		258			—			—			311			2			—
Total individually impaired loans with related allowance recorded		117,507			1,197			128			134,556			1,327			108
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		15,007			243			26			14,988			289			23
Government		60			—			—			61			1			—
Alt-A		2,842			58			4			3,087			73			3
Other		900			16			1			1,067			23			1
Total single-family		18,809			317			31			19,203			386			27
Multifamily		331			2			—			283			3			—
Total individually impaired loans with no related allowance recorded		19,140			319			31			19,486			389			27
Total individually impaired loans		$	136,647		$	1,516		$	159		$	154,042		$	1,716		$	135

__________


⁽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 classified as a TDR with a recorded investment of $135.5 billion and $134.7 billion as of March 31, 2018 and December 31, 2017, respectively. Includes multifamily loans classified as a TDR with a recorded investment of $212 million and $185 million as of March 31, 2018 and December 31, 2017, respectively.

⁽³⁾

Total single-family interest income recognized of $1.5 billion for the three months ended March 31, 2018 consists of $1.3 billion of contractual interest and $166 million of effective yield adjustments. 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.

Troubled Debt Restructurings Activity [Table Text Block]

The following table displays the number of loans and recorded investment in loans classified as a TDR.



	For the Three Months Ended March 31,
	2018					2017
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		41,679		$	6,524		17,235		$	2,363
Government		48		4			61		6
Alt-A		2,182		283			1,565		224
Other		445		84			309		53
Total single-family		44,354		6,895			19,170		2,646
Multifamily		8		42			—		—
Total TDRs		44,362		$	6,937		19,170		$	2,646

The increase in loans classified as a TDR for the three months ended March 31, 2018 compared with the three months ended March 31, 2017 was primarily attributable to single-family loan modifications and other forms of loss mitigation in the areas affected by Hurricanes Harvey, Irma and Maria that resulted in a restructuring of the terms of these loans.

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 classified as 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,
	2018					2017
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		4,818		$	701		4,479		$	621
Government		14		2			19		2
Alt-A		677		109			614		96
Other		195		38			201		38
Total single-family		5,704		850			5,313		757
Multifamily		1		2			1		4
Total TDRs that subsequently defaulted		5,705		$	852		5,314		$	761

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, 2018⁽¹⁾						December 31, 2017⁽¹⁾
	Primary		Alt-A		Other		Primary		Alt-A		Other
	(Dollars in millions)
Estimated mark-to-market loan-to-value (“LTV”) ratio:⁽²⁾
Less than or equal to 80%	$	2,454,704	$	50,556	$	15,618	$	2,439,858	$	51,903	$	16,428
Greater than 80%and less than or equal to 90%	239,258		6,094		2,037		238,038		6,680		2,277
Greater than 90%and less than or equal to 100%	111,063		3,590		1,273		106,076		4,044		1,443
Greater than 100%	16,932		3,964		1,474		18,823		4,599		1,716
Total	$	2,821,957	$	64,204	$	20,402	$	2,802,795	$	67,226	$	21,864

__________


⁽¹⁾	Excludes $25.3 billion and $31.1 billion as of March 31, 2018 and December 31, 2017, 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,
	2018			2017
	(Dollars in millions)
Credit risk profile by internally assigned grade:
Non-classified		$	267,093		$	263,416
Classified:⁽¹⁾
Substandard		3,993			3,585
Doubtful		2			—
Total classified		3,995			3,585
Total		$	271,088		$	267,001

_________


⁽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.