Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2026	Dec. 31, 2025
ASSETS
Cash	$ 10,918	$ 11,452
Restricted cash (includes $17,687 and $22,848, respectively, related to consolidated trusts)	25,425	31,131
Securities purchased under agreements to resell (includes $16,050 and $18,425, respectively, related to consolidated trusts)	33,450	45,650
Investments in securities, at fair value	100,723	69,889
Mortgage loans:
Loans held for sale, at lower of cost or fair value	332	209
Loans held for investment, at amortized cost:	4,115,714	4,127,468
Allowance for loan losses	(9,415)	(8,364)
Total loans held for investment, net of allowance	4,106,299	4,119,104
Total mortgage loans	4,106,631	4,119,313
Advances to lenders	1,206	3,595
Deferred tax assets, net	9,707	9,828
Accrued interest receivable (includes $11,628 and $11,129, respectively, related to consolidated trusts)	12,567	11,689
Other assets	17,260	14,991
Total assets	4,317,887	4,317,538
Liabilities:
Accrued interest payable (includes $11,457 and $11,320, respectively, related to consolidated trusts)	12,593	12,035
Other liabilities (includes $1,717 and $1,719, respectively, related to consolidated trusts)	16,408	16,062
Total liabilities	4,198,250	4,208,526
Commitments and contingencies (Note 14)	0	0
Fannie Mae stockholders’ equity:
Senior preferred stock (liquidation preference of $237,996 and $226,984, 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	(12,382)	(24,261)
Accumulated other comprehensive income (loss)	(1,234)	20
Treasury stock, at cost, 150,675,136 shares	(7,400)	(7,400)
Total stockholders’ equity	119,637	109,012
Total liabilities and equity	4,317,887	4,317,538
Fannie Mae
Mortgage loans:
Loans held for investment, at amortized cost:	66,617	57,970
Liabilities:
Debt:	168,731	127,289
Consolidated Trusts
ASSETS
Restricted cash (includes $17,687 and $22,848, respectively, related to consolidated trusts)	17,687	22,848
Securities purchased under agreements to resell (includes $16,050 and $18,425, respectively, related to consolidated trusts)	16,050	18,425
Mortgage loans:
Loans held for investment, at amortized cost:	4,049,097	4,069,498
Accrued interest receivable (includes $11,628 and $11,129, respectively, related to consolidated trusts)	11,628	11,129
Liabilities:
Accrued interest payable (includes $11,457 and $11,320, respectively, related to consolidated trusts)	11,457	11,320
Debt:	4,000,518	4,053,140
Other liabilities (includes $1,717 and $1,719, respectively, related to consolidated trusts)	$ 1,717	$ 1,719