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Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Investments in securities $ 4,158 $ 1,828 $ 582
Mortgage loans 133,234 117,813 98,930
Other 2,322 656 163
Total interest income 139,714 120,297 99,675
Interest expense:      
Short-term debt (672) (76) (4)
Long-term debt (110,269) (90,798) (70,084)
Total interest expense (110,941) (90,874) (70,088)
Net interest income 28,773 29,423 29,587
Benefit (provision) for credit losses 1,670 (6,277) 5,130
Net interest income after benefit (provision) for credit losses 30,443 23,146 34,717
Investment gains (losses), net (53) (297) 1,352
Fair value gain (losses), net 1,304 1,284 155
Fee and other income 275 312 361
Non-interest income 1,526 1,299 1,868
Administrative expenses:      
Salaries and employee benefits (1,906) (1,671) (1,493)
Professional services (850) (850) (817)
Other administrative expenses (848) (808) (755)
Total administrative expenses (3,604) (3,329) (3,065)
TCCA fees (3,431) (3,369) (3,071)
Credit enhancement expense (1,512) (1,323) (1,051)
Change in expected credit enhancement recoveries (193) 727 (194)
Other expenses, net (1,273) (918) (1,255)
Total expenses (10,013) (8,212) (8,636)
Income before federal income taxes 21,956 16,233 27,949
Provision for federal income taxes (4,548) (3,310) (5,773)
Net income 17,408 12,923 22,176
Other comprehensive loss (3) (3) (78)
Total comprehensive income 17,405 12,920 22,098
Dividends distributed or amounts attributable to senior preferred stock (17,405) (12,920) (22,098)
Net income attributable to common stockholders, basic 3 3 78
Net income attributable to common stockholders, diluted $ 3 $ 3 $ 78
Earnings (loss) per share - basic (in dollars per share) $ 0.00 $ 0.00 $ 0.01
Earnings (loss) per share - diluted (in dollars per share) $ 0.00 $ 0.00 $ 0.01
Weighted-average common shares outstanding, basic 5,867 5,867 5,867
Weighted-average common shares outstanding, diluted 5,893 5,893 5,893