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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 08/03/2017
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 Financial Statements | Condensed Consolidated Balance Sheets


Item 1.  Financial Statements
FANNIE MAE
(In conservatorship)
Condensed Consolidated Balance Sheets — (Unaudited)
(Dollars in millions, except share amounts)
 
As of
 
June 30,
 
December 31,
 
2017
 
2016
ASSETS
Cash and cash equivalents
 
$
16,904

 
 
 
$
25,224

 
Restricted cash (includes $26,279 and $31,536, related to consolidated trusts)
 
30,999

 
 
 
36,953

 
Federal funds sold and securities purchased under agreements to resell or similar arrangements
 
29,220

 
 
 
30,415

 
Investments in securities:
 
 
 
 
 
 
 
Trading, at fair value (includes $1,007 and $1,277, respectively, pledged as collateral )
 
39,274

 
 
 
40,562

 
Available-for-sale, at fair value (includes $98 and $107, respectively, related to consolidated trusts)
 
6,408

 
 
 
8,363

 
Total investments in securities
 
45,682

 
 
 
48,925

 
Mortgage loans:
 
 
 
 
 
 
 
Loans held for sale, at lower of cost or fair value
 
5,322

 
 
 
2,899

 
Loans held for investment, at amortized cost:
 
 
 
 
 
 
 
Of Fannie Mae
 
180,318

 
 
 
204,318

 
Of consolidated trusts
 
2,960,174

 
 
 
2,896,001

 
Total loans held for investment (includes $11,406 and $12,057, respectively, at fair value)
 
3,140,492

 
 
 
3,100,319

 
Allowance for loan losses
 
(20,399
)
 
 
 
(23,465
)
 
Total loans held for investment, net of allowance
 
3,120,093

 
 
 
3,076,854

 
Total mortgage loans
 
3,125,415

 
 
 
3,079,753

 
Deferred tax assets, net
 
31,402

 
 
 
33,530

 
Accrued interest receivable (includes $7,223 and $7,064, respectively, related to consolidated trusts)
 
7,840

 
 
 
7,737

 
Acquired property, net
 
3,696

 
 
 
4,489

 
Other assets
 
18,072

 
 
 
20,942

 
Total assets
 
$
3,309,230

 
 
 
$
3,287,968

 
LIABILITIES AND EQUITY
Liabilities:
 
 
 
 
 
 
 
Accrued interest payable (includes $8,389 and $8,285, respectively, related to consolidated trusts)
 
$
9,473

 
 
 
$
9,431

 
Debt:
 
 
 
 
 
 
 
Of Fannie Mae (includes $9,008 and $9,582, respectively, at fair value)
 
303,120

 
 
 
327,097

 
Of consolidated trusts (includes $34,866 and $36,524, respectively, at fair value)
 
2,984,547

 
 
 
2,935,219

 
Other liabilities (includes $340 and $390, respectively, related to consolidated trusts)
 
8,373

 
 
 
10,150

 
Total liabilities
 
3,305,513

 
 
 
3,281,897

 
Commitments and contingencies (Note 15)
 

 
 
 

 
Stockholders’ equity:
 
 
 
 
 
 
 
Senior preferred stock, 1,000,000 shares issued and outstanding
 
117,149

 
 
 
117,149

 
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, 1,158,087,567 and 1,158,082,750 shares outstanding, respectively
 
687

 
 
 
687

 
Accumulated deficit
 
(126,531
)
 
 
 
(124,253
)
 
Accumulated other comprehensive income
 
682

 
 
 
759

 
Treasury stock, at cost, 150,675,136 and 150,679,953 shares, respectively
 
(7,400
)
 
 
 
(7,401
)
 
Total stockholders’ equity (See Note 1: Senior Preferred Stock for information on our dividend to Treasury)
 
3,717

 
 
 
6,071

 
Total liabilities and equity
 
$
3,309,230

 
 
 
$
3,287,968

 





See Notes to Condensed Consolidated Financial Statements

Fannie Mae (In conservatorship) Second Quarter 2017 Form 10-Q
63