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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income:        
Mortgage loans $ 38,344 $ 36,390 $ 113,436 $ 107,223
Securities purchased under agreements to resell 844 1,057 2,640 3,313
Investments in securities and other 789 565 2,328 1,549
Total interest income 39,977 38,012 118,404 112,085
Interest expense:        
Short-term debt (154) (137) (362) (462)
Long-term debt (32,639) (30,600) (96,702) (90,057)
Total interest expense (32,793) (30,737) (97,064) (90,519)
Net interest income 7,184 7,275 21,340 21,566
(Provision) benefit for credit losses (338) 27 (1,308) 507
Net interest income after (provision) benefit for credit losses 6,846 7,302 20,032 22,073
Fair value gains (losses), net 13 52 347 979
Fee and other income 123 66 293 206
Investment gains (losses), net (1) 12 (9) (28)
Non-interest income 135 130 631 1,157
Non-interest expense:        
Salaries and employee benefits (475) (500) (1,578) (1,507)
Professional services, technology, and occupancy (344) (384) (1,080) (1,165)
Legislative assessments (943) (948) (2,813) (2,817)
Credit enhancement expense (409) (411) (1,288) (1,235)
Other income (expense), net 25 (136) (331) (416)
Total non-interest expense (2,146) (2,379) (7,090) (7,140)
Income before federal income taxes 4,835 5,053 13,573 16,090
Provision for federal income taxes (976) (1,009) (2,736) (3,242)
Net income 3,859 4,044 10,837 12,848
Other comprehensive income (loss) (10) 3 (9) 0
Total comprehensive income 3,849 4,047 10,828 12,848
Dividends distributed or amounts attributable to senior preferred stock (3,849) (4,047) (10,828) (12,848)
Net income (loss) attributable to common stockholders, basic 10 (3) 9 0
Net income (loss) attributable to common stockholders, diluted $ 10 $ (3) $ 9 $ 0
Earnings per share, Basic (in usd per share) $ 0.00 $ 0.00 $ 0.00 $ 0.00
Earnings per share, Diluted (in usd per share) $ 0.00 $ 0.00 $ 0.00 $ 0.00
Weighted-average common shares outstanding, Basic (shares) 5,867 5,867 5,867 5,867
Weighted-average common shares outstanding, Diluted (shares) 5,893 5,867 5,893 5,893