Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
ASSETS
Cash	$ 12,155	$ 13,477
Restricted cash (includes $19,599 and $16,994, respectively, related to consolidated trusts)	27,220	25,059
Securities purchased under agreements to resell (includes $15,975 and $14,899, respectively, related to consolidated trusts)	61,525	56,250
Investments in securities, at fair value	71,656	79,197
Mortgage loans:
Loans held for sale, at lower of cost or fair value	808	373
Loans held for investment, at amortized cost:	4,130,828	4,145,340
Allowance for loan losses	(8,246)	(7,707)
Total loans held for investment, net of allowance	4,122,582	4,137,633
Total mortgage loans	4,123,390	4,138,006
Advances to lenders	3,227	1,825
Deferred tax assets, net	10,000	10,545
Accrued interest receivable (includes $11,210 and $10,666, respectively, related to consolidated trusts)	11,901	11,364
Other assets	14,782	14,008
Total assets	4,335,856	4,349,731
Liabilities:
Accrued interest payable (includes $11,269 and $10,858, respectively, related to consolidated trusts)	12,080	11,585
Other liabilities (includes $1,682 and $1,699, respectively, related to consolidated trusts)	14,956	15,392
Total liabilities	4,230,371	4,255,074
Commitments and contingencies (Note 14)	0	0
Fannie Mae stockholders’ equity:
Senior preferred stock (liquidation preference of $223,135 and $212,029, respectively)	120,836	120,836
Preferred stock, 700,000,000 shares are authorized—555,374,922 shares issued and outstanding	19,130	19,130
Common stock, no par value, no maximum authorization—1,308,762,703 shares issued and 1,158,087,567 shares outstanding	687	687
Accumulated deficit	(27,788)	(38,625)
Accumulated other comprehensive income	20	29
Treasury stock, at cost, 150,675,136 shares	(7,400)	(7,400)
Total stockholders’ equity	105,485	94,657
Total liabilities and equity	4,335,856	4,349,731
Fannie Mae
Mortgage loans:
Loans held for investment, at amortized cost:	53,765	50,053
Liabilities:
Debt:	126,390	139,422
Consolidated Trusts
ASSETS
Restricted cash (includes $19,599 and $16,994, respectively, related to consolidated trusts)	19,599	16,994
Securities purchased under agreements to resell (includes $15,975 and $14,899, respectively, related to consolidated trusts)	15,975	14,899
Mortgage loans:
Loans held for investment, at amortized cost:	4,077,063	4,095,287
Accrued interest receivable (includes $11,210 and $10,666, respectively, related to consolidated trusts)	11,210	10,666
Liabilities:
Accrued interest payable (includes $11,269 and $10,858, respectively, related to consolidated trusts)	11,269	10,858
Debt:	4,076,945	4,088,675
Other liabilities (includes $1,682 and $1,699, respectively, related to consolidated trusts)	$ 1,682	$ 1,699