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Mortgage Loans (Tables)

3 Months Ended

Mar. 31, 2019

SEC Schedule, 12-29, Real Estate Companies, Investment in 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, 2019			December 31, 2018
	(Dollars in millions)
Single-family	$	2,930,649		$	2,929,925
Multifamily	302,152			293,858
Total unpaid principal balance of mortgage loans	3,232,801			3,223,783
Cost basis and fair value adjustments, net	40,196			39,815
Allowance for loan losses for loans held for investment	(13,232		)	(14,203		)
Total mortgage loans	$	3,259,765		$	3,249,395

The following table displays information about our redesignated mortgage loans.



		For the Three Months Ended March 31,
		For the Three Months Ended March 31,
		2019		2018
	(Dollars in millions)
Carrying value of loans redesignated from HFI to HFS		$	2,611	$	7,367
Carrying value of loans redesignated from HFS to HFI		9		18
Loans sold - unpaid principal balance		58		748
Realized gains on sale of mortgage loans		36		2

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, 2019									December 31, 2018
	Single-Family			Multifamily			Total			Single-Family			Multifamily			Total
	(Dollars in millions)
Allowance for loan losses by segment:
Individually impaired loans⁽¹⁾	$	(12,291	)	$	(44	)	$	(12,335	)	$	(13,255	)	$	(40	)	$	(13,295	)
Collectively reserved loans	(694		)	(203		)	(897		)	(714		)	(194		)	(908		)
Total allowance for loan losses	$	(12,985	)	$	(247	)	$	(13,232	)	$	(13,969	)	$	(234	)	$	(14,203	)

Recorded investment in loans by segment:
Individually impaired loans⁽¹⁾	$	114,223		$	659		$	114,882		$	117,561		$	542		$	118,103
Collectively reserved loans	2,844,196			303,738			3,147,934			2,841,943			295,122			3,137,065
Total recorded investment in loans	$	2,958,419		$	304,397		$	3,262,816		$	2,959,504		$	295,664		$	3,255,168

⁽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, 2019
	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	$	29,620	$	7,397	$	14,601	$	51,618	$	2,821,187	$	2,872,805	$	24	$	25,710
Government⁽²⁾	48		16		162		226		20,901		21,127		162		—
Alt-A	2,470		803		1,779		5,052		45,750		50,802		1		2,998
Other	772		281		676		1,729		11,956		13,685		3		1,080
Total single-family	32,910		8,497		17,218		58,625		2,899,794		2,958,419		190		29,788
Multifamily⁽³⁾	3		N/A		193		196		304,201		304,397		—		509
Total	$	32,913	$	8,497	$	17,411	$	58,821	$	3,203,995	$	3,262,816	$	190	$	30,297



	As of December 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	$	30,471	$	7,881	$	14,866	$	53,218	$	2,816,047	$	2,869,265	$	22	$	26,170
Government⁽²⁾	57		17		169		243		21,887		22,130		169		—
Alt-A	2,332		821		1,844		4,997		48,274		53,271		2		3,082
Other	804		283		713		1,800		13,038		14,838		2		1,128
Total single-family	33,664		9,002		17,592		60,258		2,899,246		2,959,504		195		30,380
Multifamily⁽³⁾	56		N/A		171		227		295,437		295,664		—		492
Total	$	33,720	$	9,002	$	17,763	$	60,485	$	3,194,683	$	3,255,168	$	195	$	30,872


⁽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, 2019										December 31, 2018
	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		$	79,713		$	76,804		$	(8,816	)		$	81,791		$	78,688		$	(9,406	)
Government		265			270			(55		)		264			270			(55		)
Alt-A		15,486			14,178			(2,526		)		16,576			15,158			(2,793		)
Other		4,987			4,706			(894		)		5,482			5,169			(1,001		)
Total single-family		100,451			95,958			(12,291		)		104,113			99,285			(13,255		)
Multifamily		297			298			(44		)		197			196			(40		)
Total individually impaired loans with related allowance recorded		100,748			96,256			(12,335		)		104,310			99,481			(13,295		)
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		16,089			15,325			—				15,939			15,191			—
Government		61			57			—				61			56			—
Alt-A		2,508			2,248			—				2,628			2,363			—
Other		688			635			—				718			666			—
Total single-family		19,346			18,265			—				19,346			18,276			—
Multifamily		360			361			—				343			346			—
Total individually impaired loans with no related allowance recorded		19,706			18,626			—				19,689			18,622			—
Total individually impaired loans⁽²⁾		$	120,454		$	114,882		$	(12,335	)		$	123,999		$	118,103		$	(13,295	)


⁽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 $113.9 billion and $117.2 billion as of March 31, 2019 and December 31, 2018, respectively. Includes multifamily loans restructured in a TDR with a recorded investment of $188 million and $187 million as of March 31, 2019 and December 31, 2018, respectively.



	For the Three Months Ended March 31,
	2019									2018
	Average Recorded Investment			Total Interest Income Recognized			Interest Income Recognized on a Cash Basis			Average Recorded Investment			Total Interest Income Recognized			Interest Income Recognized on a Cash Basis
	(Dollars in millions)
Individually impaired loans:
With related allowance recorded:
Single-family:
Primary		$	77,842		$	817		$	80		$	88,411		$	911		$	107
Government		272			3			—			276			3			—
Alt-A		14,687			156			11			20,708			212			16
Other		4,940			45			4			7,854			71			5
Total single-family		97,741			1,021			95			117,249			1,197			128
Multifamily		247			2			—			258			—			—
Total individually impaired loans with related allowance recorded		97,988			1,023			95			117,507			1,197			128
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		15,195			220			28			15,007			243			26
Government		56			1			—			60			—			—
Alt-A		2,293			39			2			2,842			58			4
Other		648			8			1			900			16			1
Total single-family		18,192			268			31			18,809			317			31
Multifamily		353			2			—			331			2			—
Total individually impaired loans with no related allowance recorded		18,545			270			31			19,140			319			31
Total individually impaired loans		$	116,533		$	1,293		$	126		$	136,647		$	1,516		$	159

⁽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.

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,
	2019					2018
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		Recorded Investment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary		12,957		$	1,971		41,679		$	6,524
Government		23		4			48		4
Alt-A		766		97			2,182		283
Other		147		27			445		84
Total single-family		13,893		2,099			44,354		6,895
Multifamily		3		13			8		42
Total TDRs		13,896		$	2,112		44,362		$	6,937

⁽¹⁾

Based on the nature of our modification programs, which do not include principal or past-due interest forgiveness, there is not a material difference between the recorded investment in our loans pre- and post- modification. Therefore, these amounts represent recorded investment post-modification.the following tables display the number of loans and our recorded investment in these loans at the time of payment default. For the 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,
	2019					2018
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		4,516		$	673		4,818		$	701
Government		18		3			14		2
Alt-A		471		73			677		109
Other		154		28			195		38
Total single-family		5,159		777			5,704		850
Multifamily		—		—			1		2
Total TDRs that subsequently defaulted		5,159		$	777		5,705		$	852

Single-family [Member]

SEC Schedule, 12-29, Real Estate Companies, Investment in 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, 2019⁽¹⁾						December 31, 2018⁽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%	$	2,496,412	$	43,554	$	11,362	$	2,521,766	$	45,476	$	12,291
Greater than 80%and less than or equal to 90%	239,373		3,555		1,074		228,614		3,804		1,195
Greater than 90%and less than or equal to 100%	126,992		1,837		584		109,548		1,997		645
Greater than 100%	10,028		1,856		665		9,337		1,994		707
Total	$	2,872,805	$	50,802	$	13,685	$	2,869,265	$	53,271	$	14,838


⁽¹⁾	Excludes $21.1 billion and $22.1 billion as of March 31, 2019 and December 31, 2018, 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 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]

SEC Schedule, 12-29, Real Estate Companies, Investment in 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,
	2019			2018
	(Dollars in millions)
Credit risk profile by internally assigned grade:
Non-classified		$	297,312		$	289,231
Classified⁽¹⁾		7,085			6,433
Total		$	304,397		$	295,664

⁽¹⁾

Represents loans classified as “Substandard,” which have a well-defined weakness that jeopardizes the timely full repayment. Loans with a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions and values are referred to as “Doubtful.” As of March 31, 2019, we had loans with recorded investment of less than $0.5 million classified as doubtful, compared with $1 million as of December 31, 2018.