Print Page  |  Close Window

SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 11/02/2018
Entire Document
 
 
MD&A | Business Segments


Single-Family Loss Reserves
Our single-family loss reserves provide for an estimate of credit losses incurred in our single-family guaranty book of business, including concessions we granted borrowers upon modification of their loans. The table below summarizes the changes in our single-family loss reserves.
Single-Family Loss Reserves
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
 
(Dollars in millions)
Changes in loss reserves:
 
 
 
 
 
 
 
Beginning balance
$
(16,638
)
 
$
(20,553
)
 
$
(19,155
)
 
$
(23,639
)
Benefit (provision) for credit losses
732

 
(137
)
 
2,223

 
1,518

Charge-offs
514

 
455

 
1,728

 
2,221

Recoveries
(84
)
 
(73
)
 
(255
)
 
(370
)
Other(1)
(2
)
 
17

 
(19
)
 
(21
)
Ending balance
$
(15,478
)
 
$
(20,291
)
 
$
(15,478
)
 
$
(20,291
)
 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
 
 
 
 
September 30, 2018
 
December 31, 2017
Loss reserves as a percentage of single-family:
 
 
 
 
 
 
 
Guaranty book of business
 
 
 
 
0.52
%
 
0.65
%
Recorded investment in nonaccrual loans
 
 
 
 
47.52

 
40.80

__________
(1) 
Amounts represent the portion of single-family benefit (provision) for credit losses, charge-offs and recoveries that are not a part of loss reserves.
Troubled Debt Restructurings and Nonaccrual Loans
The table below displays the single-family loans classified as TDRs that are on accrual status and loans on nonaccrual status. The table includes our recorded investment in HFI and HFS single-family mortgage loans. For information on the impact of TDRs and other individually impaired loans on our allowance for loan losses, see “Note 3, Mortgage Loans.”
Single-Family Troubled Debt Restructurings on Accrual Status and Nonaccrual Loans
 
As of
 
September 30, 2018
 
December 31, 2017
 
(Dollars in millions)
TDRs on accrual status
 
$
104,569

 
 
 
$
110,043

 
Nonaccrual loans
 
32,571

 
 
 
46,945

 
Total TDRs on accrual status and nonaccrual loans
 
$
137,140

 
 
 
$
156,988

 
Accruing on-balance sheet loans past due 90 days or more(1)
 
$
243

 
 
 
$
353

 
 
 
For the Nine Months
 
 
 
Ended September 30,
 
 
 
2018
 
 
 
2017
 
 
 
(Dollars in millions)
 
Interest related to on-balance sheet TDRs on accrual status and nonaccrual loans:
 
 
 
 
 
 
 
Interest income forgone(2)
 
$
1,680

 
 
 
$
2,616

 
Interest income recognized(3)
 
4,141

 
 
 
4,247

 

Fannie Mae Third Quarter 2018 Form 10-Q
36