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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/06/2011
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including the limit on the mortgage assets that we may own pursuant to the senior preferred stock purchase agreement. As of March 31, 2011, the total unpaid principal balance of all loans in single-family MBS trusts that were delinquent as to four or more consecutive monthly payments was $6.8 billion. In April 2011, we purchased approximately 32,000 delinquent loans with an unpaid principal balance of $5.7 billion from our single-family MBS trusts.
 
 
CONSOLIDATED BALANCE SHEET ANALYSIS
 
The section below provides a discussion of our condensed consolidated balance sheets as of the dates indicated. You should read this section together with our condensed consolidated financial statements, including the accompanying notes.
 
Table 20 presents a summary of our condensed consolidated balance sheets as of March 31, 2011 and December 31, 2010.
 
Table 20:  Summary of Condensed Consolidated Balance Sheets
 
                         
    As of        
    March 31,
    December 31,
       
    2011     2010     Variance  
    (Dollars in millions)  
 
Assets
                       
Cash and cash equivalents and federal funds sold and securities purchased under agreements to resell or similar arrangements
  $ 46,081     $ 29,048     $ 17,033  
Restricted cash
    36,730       63,678       (26,948 )
Investments in securities(1)
    146,648       151,248       (4,600 )
Mortgage loans
                       
Of Fannie Mae
    402,711       407,482       (4,771 )
Of consolidated trusts
    2,614,903       2,577,794       37,109  
Allowance for loan losses
    (67,557 )     (61,556 )     (6,001 )
                         
Mortgage loans, net of allowance for loan losses
    2,950,057       2,923,720       26,337  
Other assets(2)
    47,526       54,278       (6,752 )
                         
Total assets
  $ 3,227,042     $ 3,221,972     $ 5,070  
                         
Liabilities and equity (deficit)
                       
Debt
                       
Of Fannie Mae
  $ 761,187     $ 780,044     $ (18,857 )
Of consolidated trusts
    2,447,589       2,416,956       30,633  
Other liabilities(3)
    26,684       27,489       (805 )
                         
Total liabilities
    3,235,460       3,224,489       10,971  
                         
Senior preferred stock
    91,200       88,600       2,600  
Other equity (deficit)(4)
    (99,618 )     (91,117 )     (8,501 )
                         
Total stockholders’ equity (deficit)
    (8,418 )     (2,517 )     (5,901 )
                         
Total liabilities and stockholders’ deficit
  $ 3,227,042     $ 3,221,972     $ 5,070  
                         
 
 
(1) Includes $33.5 billion as of March 31, 2011 and $32.8 billion as of December 31, 2010 of non-mortgage-related securities that are included in our other investments portfolio, which we present in “Table 31: Cash and Other Investments Portfolio.”
 
(2) Consists of accrued interest receivable, net; acquired property, net; and other assets.
 
(3) Consists of accrued interest payable, federal funds purchased and securities sold under agreements to repurchase, and other liabilities.
 
(4) Consists of preferred stock, common stock, additional paid-in capital, accumulated deficit, accumulated other comprehensive loss, treasury stock, and noncontrolling interest.


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