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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 05/06/2011
Entire Document
 
Table of Contents

Item 1.   Financial Statements
 
FANNIE MAE
(In conservatorship)

Condensed Consolidated Balance Sheets—(Unaudited)
(Dollars in millions, except share amounts)
 
                 
    As of  
    March 31,
    December 31,
 
    2011     2010  
 
ASSETS
Cash and cash equivalents (includes $717 and $348, respectively, related to consolidated trusts)
  $ 19,831     $ 17,297  
Restricted cash (includes $33,405 and $59,619, respectively, related to consolidated trusts)
    36,730       63,678  
Federal funds sold and securities purchased under agreements to resell or similar arrangements
    26,250       11,751  
Investments in securities:
               
Trading, at fair value (includes $21 as of both periods related to consolidated trusts)
    57,035       56,856  
Available-for-sale, at fair value (includes $1,678 and $1,055, respectively, related to consolidated trusts)
    89,613       94,392  
                 
Total investments in securities
    146,648       151,248  
                 
Mortgage loans:
               
Loans held for sale, at lower of cost or fair value (includes $1,055 and $661, respectively, related
               
to consolidated trusts)
    1,414       915  
Loans held for investment, at amortized cost:
               
Of Fannie Mae
    402,352       407,228  
Of consolidated trusts (includes $2,969 and $2,962, respectively, at fair value and loans pledged as collateral that may be sold or repledged of $2,241 and $2,522, respectively)
    2,613,848       2,577,133  
                 
Total loans held for investment
    3,016,200       2,984,361  
Allowance for loan losses
    (67,557 )     (61,556 )
                 
Total loans held for investment, net of allowance
    2,948,643       2,922,805  
                 
Total mortgage loans
    2,950,057       2,923,720  
Accrued interest receivable, net (includes $8,918 and $8,910, respectively, related to consolidated trusts)
    11,303       11,279  
Acquired property, net
    15,264       16,173  
Other assets (includes $242 and $593, respectively, related to consolidated trusts)
    20,959       26,826  
                 
Total assets
  $ 3,227,042     $ 3,221,972  
                 
 
LIABILITIES AND EQUITY (DEFICIT)
Liabilities:
               
Accrued interest payable (includes $9,673 and $9,712, respectively, related to consolidated trusts)
  $ 13,828     $ 13,764  
Federal funds purchased and securities sold under agreements to repurchase
    25       52  
Debt:
               
Of Fannie Mae (includes $884 and $893, respectively, at fair value)
    761,187       780,044  
Of consolidated trusts (includes $2,193 and $2,271, respectively, at fair value)
    2,447,589       2,416,956  
Other liabilities (includes $713 and $893, respectively, related to consolidated trusts)
    12,831       13,673  
                 
Total liabilities
    3,235,460       3,224,489  
                 
Commitments and contingencies (Note 14)
           
Fannie Mae stockholders’ equity (deficit):
               
Senior preferred stock, 1,000,000 shares issued and outstanding
    91,200       88,600  
Preferred stock, 700,000,000 shares are authorized—576,868,039 and 576,868,139 shares issued
               
and outstanding, respectively
    20,204       20,204  
Common stock, no par value, no maximum authorization—1,270,092,862 and 1,270,092,708 shares
               
issued, respectively; 1,119,073,956 and 1,118,504,194 shares outstanding, respectively
    667       667  
Accumulated deficit
    (111,669 )     (102,986 )
Accumulated other comprehensive loss
    (1,501 )     (1,682 )
Treasury stock, at cost, 151,018,906 and 151,588,514 shares, respectively
    (7,400 )     (7,402 )
                 
Total Fannie Mae stockholders’ deficit
    (8,499 )     (2,599 )
                 
Noncontrolling interest
    81       82  
                 
Total deficit
    (8,418 )     (2,517 )
                 
Total liabilities and equity (deficit)
  $ 3,227,042     $ 3,221,972  
                 
 
See Notes to Condensed Consolidated Financial Statements


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