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Mortgage Loans (Tables)

6 Months Ended

Jun. 30, 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
	June 30, 2019			December 31, 2018
	(Dollars in millions)
Single-family	$	2,932,553		$	2,929,925
Multifamily	310,899			293,858
Total unpaid principal balance of mortgage loans	3,243,452			3,223,783
Cost basis and fair value adjustments, net	41,262			39,815
Allowance for loan losses for loans held for investment	(11,482		)	(14,203		)
Total mortgage loans	$	3,273,232		$	3,249,395

The following table displays information about our redesignated mortgage loans.



	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
	(Dollars in millions)
Carrying value of loans redesignated from HFI to HFS⁽¹⁾	$	6,759	$	6,235	$	9,370	$	13,602
Carrying value of loans redesignated from HFS to HFI⁽¹⁾	3		12		12		30
Loans sold - unpaid principal balance	6,498		3,710		6,556		4,458
Realized gains on sale of mortgage loans	284		210		320		208

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
	June 30, 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⁾	$	(10,572	)	$	(55	)	$	(10,627	)	$	(13,255	)	$	(40	)	$	(13,295	)
Collectively reserved loans	(638		)	(217		)	(855		)	(714		)	(194		)	(908		)
Total allowance for loan losses	$	(11,210	)	$	(272	)	$	(11,482	)	$	(13,969	)	$	(234	)	$	(14,203	)

Recorded investment in loans by segment:
Individually impaired loans⁽¹⁾	$	107,354		$	776		$	108,130		$	117,561		$	542		$	118,103
Collectively reserved loans	2,852,896			312,769			3,165,665			2,841,943			295,122			3,137,065
Total recorded investment in loans	$	2,960,250		$	313,545		$	3,273,795		$	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 June 30, 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	$	33,030	$	7,308	$	13,547	$	53,885	$	2,827,424	$	2,881,309	$	22	$	24,035
Government⁽²⁾	46		18		152		216		18,691		18,907		152		—
Alt-A	2,228		645		1,533		4,406		43,083		47,489		1		2,528
Other	733		236		590		1,559		10,986		12,545		2		944
Total single-family	36,037		8,207		15,822		60,066		2,900,184		2,960,250		177		27,507
Multifamily⁽³⁾	24		N/A		187		211		313,334		313,545		—		513
Total	$	36,061	$	8,207	$	16,009	$	60,277	$	3,213,518	$	3,273,795	$	177	$	28,020



	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
	June 30, 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		$	74,143		$	71,549		$	(7,615	)		$	81,791		$	78,688		$	(9,406	)
Government		261			267			(54		)		264			270			(55		)
Alt-A		13,703			12,554			(2,129		)		16,576			15,158			(2,793		)
Other		4,520			4,268			(774		)		5,482			5,169			(1,001		)
Total single-family		92,627			88,638			(10,572		)		104,113			99,285			(13,255		)
Multifamily		340			343			(55		)		197			196			(40		)
Total individually impaired loans with related allowance recorded		92,967			88,981			(10,627		)		104,310			99,481			(13,295		)
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		16,638			15,866			—				15,939			15,191			—
Government		59			55			—				61			56			—
Alt-A		2,445			2,193			—				2,628			2,363			—
Other		654			602			—				718			666			—
Total single-family		19,796			18,716			—				19,346			18,276			—
Multifamily		431			433			—				343			346			—
Total individually impaired loans with no related allowance recorded		20,227			19,149			—				19,689			18,622			—
Total individually impaired loans⁽²⁾		$	113,194		$	108,130		$	(10,627	)		$	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 $107.0 billion and $117.2 billion as of June 30, 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 June 30, 2019 and December 31, 2018, respectively.



	For the Three Months Ended June 30,
	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		$	74,162		$	774		$	72		$	88,526		$	915		$	109
Government		269			3			—			279			9			—
Alt-A		13,399			145			11			19,349			219			16
Other		4,471			41			3			7,265			73			6
Total single-family		92,301			963			86			115,419			1,216			131
Multifamily		321			3			—			232			1			—
Total individually impaired loans with related allowance recorded		92,622			966			86			115,651			1,217			131
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		15,474			249			36			14,942			243			32
Government		55			1			—			57			2			—
Alt-A		2,196			44			5			2,723			61			5
Other		615			10			1			857			15			1
Total single-family		18,340			304			42			18,579			321			38
Multifamily		397			6			—			355			1			—
Total individually impaired loans with no related allowance recorded		18,737			310			42			18,934			322			38
Total individually impaired loans		$	111,359		$	1,276		$	128		$	134,585		$	1,539		$	169



	For the Six Months Ended June 30,
	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		$	75,888		$	1,591		$	152		$	88,342		$	1,826		$	216
Government		270			6			—			278			12			—
Alt-A		14,023			301			22			20,020			431			32
Other		4,706			86			7			7,556			144			11
Total single-family		94,887			1,984			181			116,196			2,413			259
Multifamily		279			5			—			248			1			—
Total individually impaired loans with related allowance recorded		95,166			1,989			181			116,444			2,414			259
With no related allowance recorded:⁽¹⁾
Single-family:
Primary		15,336			469			64			14,988			486			58
Government		55			2			—			58			2			—
Alt-A		2,244			83			7			2,781			119			9
Other		631			18			2			878			31			2
Total single-family		18,266			572			73			18,705			638			69
Multifamily		380			8			—			340			3			—
Total individually impaired loans with no related allowance recorded		18,646			580			73			19,045			641			69
Total individually impaired loans		$	113,812		$	2,569		$	254		$	135,489		$	3,055		$	328

⁽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 tables display the number of loans and recorded investment in loans classified as a TDR.



	For the Three Months Ended June 30,
	2019					2018
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		Recorded Investment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary		11,796		$	1,844		21,820		$	3,148
Government		22		2			26		2
Alt-A		639		81			1,538		200
Other		138		25			285		52
Total single-family		12,595		1,952			23,669		3,402
Multifamily		3		20			2		19
Total TDRs		12,598		$	1,972		23,671		$	3,421



	For the Six Months Ended June 30,
	2019					2018
	Number of Loans		RecordedInvestment⁽¹⁾			Number of Loans		Recorded Investment⁽¹⁾
	(Dollars in millions)
Single-family:
Primary		24,753		$	3,815		63,499		$	9,672
Government		45		6			74		6
Alt-A		1,405		178			3,720		483
Other		285		52			730		136
Total single-family		26,488		4,051			68,023		10,297
Multifamily		6		33			10		61
Total TDRs		26,494		$	4,084		68,033		$	10,358

⁽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 June 30,
	2019					2018
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		4,047		$	606		3,834		$	554
Government		10		2			15		2
Alt-A		379		58			588		92
Other		110		21			131		26
Total single-family		4,546		687			4,568		674
Multifamily		1		6			—		—
Total TDRs that subsequently defaulted		4,547		$	693		4,568		$	674



	For the Six Months Ended June 30,
	2019					2018
	Number of Loans		RecordedInvestment			Number of Loans		RecordedInvestment
	(Dollars in millions)
Single-family:
Primary		8,563		$	1,279		8,652		$	1,255
Government		28		5			29		4
Alt-A		850		131			1,265		201
Other		264		49			326		64
Total single-family		9,705		1,464			10,272		1,524
Multifamily		1		6			1		2
Total TDRs that subsequently defaulted		9,706		$	1,470		10,273		$	1,526

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
	June 30, 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%	$	2,551,443	$	41,960	$	10,773	$	2,521,766	$	45,476	$	12,291
Greater than 80%and less than or equal to 90%	221,190		2,819		874		228,614		3,804		1,195
Greater than 90%and less than or equal to 100%	102,585		1,383		435		109,548		1,997		645
Greater than 100%	6,091		1,327		463		9,337		1,994		707
Total	$	2,881,309	$	47,489	$	12,545	$	2,869,265	$	53,271	$	14,838


⁽¹⁾	Excludes $18.9 billion and $22.1 billion as of June 30, 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 divided by the estimated current value of the property as of the end of each reported period, 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
	June 30,			December 31,
	2019			2018
	(Dollars in millions)
Credit risk profile by internally assigned grade:
Non-classified		$	306,257		$	289,231
Classified⁽¹⁾		7,288			6,433
Total		$	313,545		$	295,664

⁽¹⁾

Includes loans classified as “Substandard” or “Doubtful.” Loans classified as “Substandard” have a well-defined weakness that jeopardizes the timely full repayment. Loans classified as “Doubtful” have weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions and values. As of June 30, 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.