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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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Table of Contents

FANNIE MAE
(In conservatorship)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(UNAUDITED)
 
 
(3) Represents reclassification of amounts recorded in provision for loan losses and charge-offs that relate to allowance for accrued interest receivable and preforeclosure property taxes and insurance receivable from borrowers.
 
(4) Total allowance for loan losses includes $412 million and $903 million as of March 31, 2011 and 2010, respectively, for acquired credit-impaired loans.
 
(5) Total single-family allowance for loan losses was $58.8 billion as of March 31, 2010. Total multifamily allowance for loan losses was $1.8 billion as of March 31, 2010.
 
As of March 31, 2011, the allowance for accrued interest receivable for loans of Fannie Mae was $2.6 billion and for loans of consolidated trusts was $340 million. As of December 31, 2010, the allowance for accrued interest receivable for loans of Fannie Mae was $3.0 billion and for loans of consolidated trusts was $439 million.
 
The following table displays the allowance for loan losses and total recorded investment in our HFI loans, excluding loans for which we have elected the fair value option, by impairment or reserve methodology and portfolio segment as of March 31, 2011 and December 31, 2010.
 
                                                 
    As of  
    March 31, 2011     December 31, 2010  
    Single-
                Single-
             
    Family     Multifamily     Total     Family     Multifamily     Total  
    (Dollars in millions)  
 
Allowance for loan losses by segment:
                                               
Individually impaired loans
  $ 40,957     $ 489     $ 41,446     $ 37,296     $ 549     $ 37,845  
Collectively reserved loans
    24,720       979       25,699       22,306       1,020       23,326  
Acquired credit-impaired loans
    407       5       412       378       7       385  
                                                 
Total allowance for loan losses
  $ 66,084     $ 1,473     $ 67,557     $ 59,980     $ 1,576     $ 61,556  
                                                 
Recorded investment in loans by segment:(1)
                                               
Individually impaired loans
  $ 145,376     $ 2,721     $ 148,097     $ 140,062     $ 3,074     $ 143,136  
Collectively reserved loans
    2,703,386       171,003       2,874,389       2,677,640       169,332       2,846,972  
Acquired credit-impaired loans
    4,368       77       4,445       4,798       108       4,906  
                                                 
Total recorded investment in loans
  $ 2,853,130     $ 173,801     $ 3,026,931     $ 2,822,500     $ 172,514     $ 2,995,014  
                                                 
 
 
(1) Recorded investment consists of the following: (a) unpaid principal balance; (b) unamortized premiums, discounts and other cost basis adjustments; and (c) accrued interest receivable.


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