Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2026

Financing Receivable, Allowance for Credit Loss

The following table displays changes in single-family and multifamily allowance for credit losses and the total allowance for credit losses as well as the components of the single-family and multifamily allowance for credit losses.


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2026		2025		2026		2025
	(Dollars in millions)
Single-family allowance for credit losses:
Beginning balance	$	(6,345)	$	(5,985)	$	(6,272)	$	(5,487)
(Provision) benefit for credit losses	(694)		(269)		(1,023)		(1,030)
Write-offs	181		241		546		598
Recoveries	(67)		(51)		(176)		(145)

Ending balance	$	(6,925)	$	(6,064)	$	(6,925)	$	(6,064)
Multifamily allowance for credit losses:
Beginning balance	$	(2,408)	$	(2,486)	$	(2,320)	$	(2,399)
(Provision) benefit for credit losses	(446)		(69)		(879)		(278)
Write-offs	160		167		604		350
Recoveries	(40)		(25)		(139)		(86)

Ending balance	$	(2,734)	$	(2,413)	$	(2,734)	$	(2,413)
Total allowance for credit losses:
Beginning balance	$	(8,753)	$	(8,471)	$	(8,592)	$	(7,886)
(Provision) benefit for credit losses	(1,140)		(338)		(1,902)		(1,308)
Write-offs	341		408		1,150		948
Recoveries	(107)		(76)		(315)		(231)

Ending balance	$	(9,659)	$	(8,477)	$	(9,659)	$	(8,477)


Components of allowance for credit losses:
	As of
	September 30, 2026		December 31, 2025
	(Dollars in millions)
Single-family allowance for credit losses:
Allowance for loan losses	$	(6,694)	$	(6,056)
Other(1)	(231)		(216)
Total	$	(6,925)	$	(6,272)
Multifamily allowance for credit losses:
Allowance for loan losses	$	(2,721)	$	(2,308)
Other(1)	(13)		(12)
Total	$	(2,734)	$	(2,320)
Total allowance for credit losses:
Allowance for loan losses	$	(9,415)	$	(8,364)
Other(1)	(244)		(228)
Total	$	(9,659)	$	(8,592)

(1)Consists of allowance for credit losses on advances of pre-foreclosure costs, accrued interest receivable, our guaranty loss reserves, and credit reserves on our AFS debt securities. Pre-foreclosure costs represent advances for property taxes and insurance receivables.