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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 08/03/2017
Entire Document
 
 
Notes to Condensed Consolidated Financial Statements | Segment Reporting


 
 
For the Three Months Ended June 30,
 
 
2017
 
 
2016
 
 
Single-Family
 
Multifamily
 
Total
 
 
Single-Family
 
Multifamily
 
Total
 
(Dollars in millions)
Net interest income(1)
 
$
4,366

 
$
636

 
$
5,002

 
 
$
4,730

 
$
556

 
$
5,286

Fee and other income(2)
 
111

 
242

 
353

 
 
78

 
96

 
174

Net revenues
 
4,477

 
878

 
5,355

 
 
4,808

 
652

 
5,460

Investment gains, net(3)
 
321

 
64

 
385

 
 
280

 
118

 
398

Fair value gains (losses), net(4)
 
(685
)
 
(6
)
 
(691
)
 
 
(1,679
)
 
12

 
(1,667
)
Administrative expenses
 
(600
)
 
(86
)
 
(686
)
 
 
(597
)
 
(81
)
 
(678
)
Credit-related income(5)
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit for credit losses
 
1,255

 
12

 
1,267

 
 
1,596

 
5

 
1,601

Foreclosed property expense
 
(32
)
 
(2
)
 
(34
)
 
 
(61
)
 
(2
)
 
(63
)
Total credit-related income
 
1,223

 
10

 
1,233

 
 
1,535

 
3

 
1,538

TCCA fees(6)
 
(518
)
 

 
(518
)
 
 
(453
)
 

 
(453
)
Other expenses, net
 
(155
)
 
(136
)
 
(291
)
 
 
(252
)
 
(2
)
 
(254
)
Income before federal income taxes
 
4,063

 
724

 
4,787

 
 
3,642

 
702

 
4,344

Provision for federal income taxes
 
(1,401
)
 
(186
)
 
(1,587
)
 
 
(1,254
)
 
(144
)
 
(1,398
)
Net income
 
$
2,662

 
$
538

 
$
3,200

 
 
$
2,388

 
$
558

 
$
2,946

 
 
For the Six Months Ended June 30,
 
 
2017
 
 
2016
 
 
Single-Family
 
Multifamily
 
Total
 
 
Single-Family
 
Multifamily
 
Total
 
(Dollars in millions)
Net interest income(1)
 
$
9,122

 
$
1,226

 
$
10,348

 
 
$
8,975

 
$
1,080

 
$
10,055

Fee and other income(2)
 
187

 
415

 
602

 
 
145

 
232

 
377

Net revenues
 
9,309

 
1,641

 
10,950

 
 
9,120

 
1,312

 
10,432

Investment gains, net(3)
 
271

 
105

 
376

 
 
336

 
131

 
467

Fair value gains (losses), net(4)
 
(697
)
 
(34
)
 
(731
)
 
 
(4,529
)
 
49

 
(4,480
)
Administrative expenses
 
(1,201
)
 
(169
)
 
(1,370
)
 
 
(1,206
)
 
(160
)
 
(1,366
)
Credit-related income(5)
 
 
 
 
 
 
 
 
 
 
 
 
 
Benefit for credit losses
 
1,655

 
8

 
1,663

 
 
2,759

 
26

 
2,785

Foreclosed property expense
 
(248
)
 
(3
)
 
(251
)
 
 
(396
)
 
(1
)
 
(397
)
Total credit-related income
 
1,407

 
5

 
1,412

 
 
2,363

 
25

 
2,388

TCCA fees(6)
 
(1,021
)
 

 
(1,021
)
 
 
(893
)
 

 
(893
)
Other expenses, net
 
(411
)
 
(262
)
 
(673
)
 
 
(498
)
 
(20
)
 
(518
)
Income before federal income taxes
 
7,657

 
1,286

 
8,943

 
 
4,693

 
1,337

 
6,030

Provision for federal income taxes
 
(2,653
)
 
(317
)
 
(2,970
)
 
 
(1,643
)
 
(305
)
 
(1,948
)
Net income
 
$
5,004

 
$
969

 
$
5,973

 
 
$
3,050

 
$
1,032

 
$
4,082


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