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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

FANNIE MAE
(In conservatorship)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(UNAUDITED)
 
                                                                 
    As of December 31, 2010(1)  
                                        Recorded
       
                                        Investment in
       
                                        Loans Over
    Recorded
 
                                        90 Days
    Investment
 
                                        Delinquent
    in
 
    30 - 59 Days
    60 - 89 Days
    Seriously
    Total
                and Accruing
    Nonaccrual
 
    Delinquent     Delinquent     Delinquent(2)     Delinquent     Current     Total     Interest     Loans  
    (Dollars in millions)  
 
Single-family:
                                                               
Primary(3)
  $ 47,048     $ 18,055     $ 93,302     $ 158,405     $ 2,299,080     $ 2,457,485     $ 139     $ 110,758  
Government(4)
    125       58       371       554       51,930       52,484       354        
Alt-A
    8,547       4,097       37,557       50,201       156,951       207,152       21       41,566  
Other(5)
    3,785       1,831       15,290       20,906       84,473       105,379       80       17,022  
                                                                 
Total single-family
    59,505       24,041       146,520       230,066       2,592,434       2,822,500       594       169,346  
Multifamily(6)
    382       NA       1,132       1,514       171,000       172,514             1,012  
                                                                 
Total
  $ 59,887     $ 24,041     $ 147,652     $ 231,580     $ 2,763,434     $ 2,995,014     $ 594     $ 170,358  
                                                                 
 
 
(1) Recorded investment consists of (a) unpaid principal balance; (b) unamortized premiums, discounts and other cost basis adjustments; and (c) accrued interest receivable.
 
(2) Single-family seriously delinquent loans are loans that are 90 days or more past due or in the foreclosure process. Multifamily seriously delinquent loans are loans that are 60 days or more past due.
 
(3) Consists of mortgage loans that are not included in other loan classes.
 
(4) Consists of mortgage loans guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies that are not Alt-A. Primarily consists of reverse mortgages which due to their nature are not aged and included in the current column.
 
(5) Includes loans with higher-risk loan characteristics, such as interest-only loans and negative-amortizing loans that are neither government nor Alt-A.
 
(6) Multifamily loans 60-89 days delinquent are included in the seriously delinquent column.
 
The following table displays the total recorded investment in our HFI loans, excluding loans for which we have elected the fair value option, by portfolio segment, class and credit quality indicators as of March 31, 2011 and December 31, 2010. The single-family credit quality indicator is updated quarterly and the multifamily credit quality indicators are as of the origination date of each loan.
 
                                                 
    As of  
    March 31, 2011(1)(2)     December 31, 2010(1)(2)  
    Primary(3)     Alt-A     Other(4)     Primary(3)     Alt-A     Other(4)  
    (Dollars in millions)  
 
Single-family
                                               
Estimated mark-to-market LTV ratio:(5)
                                               
Less than or equal to 80%
  $ 1,491,411     $ 70,592     $ 26,614     $ 1,561,202     $ 79,305     $ 29,854  
80.01% to 90%
    426,344       25,620       11,794       376,414       27,472       13,394  
90.01% to 100%
    237,697       23,487       11,817       217,193       24,392       12,935  
100.01% to 110%
    129,197       18,260       10,893       112,376       18,022       11,400  
110.01% to 120%
    71,237       13,471       9,043       62,283       12,718       8,967  
120.01% to 125%
    24,542       5,295       3,817       21,729       5,083       3,733  
Greater than 125%
    120,472       42,339       27,238       106,288       40,160       25,096  
                                                 
Total
  $ 2,500,900     $ 199,064     $ 101,216     $ 2,457,485     $ 207,152     $ 105,379  
                                                 
 

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