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SEC Filings

10-Q
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-Q on 08/05/2011
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  
    June 30,
    December 31,
 
    2011     2010  
 
ASSETS
Cash and cash equivalents (includes $3 and $348, respectively, related to consolidated trusts)
  $ 14,274     $ 17,297  
Restricted cash (includes $33,136 and $59,619, respectively, related to consolidated trusts)
    37,579       63,678  
Federal funds sold and securities purchased under agreements to resell or similar arrangements
    19,500       11,751  
Investments in securities:
               
Trading, at fair value (includes $21 as of both periods related to consolidated trusts)
    61,907       56,856  
Available-for-sale, at fair value (includes $1,590 and $1,055, respectively, related to consolidated trusts)
    86,616       94,392  
                 
Total investments in securities
    148,523       151,248  
                 
Mortgage loans:
               
Loans held for sale, at lower of cost or fair value (includes $73 and $661, respectively, related to consolidated trusts)
    439       915  
Loans held for investment, at amortized cost:
               
Of Fannie Mae
    386,356       407,228  
Of consolidated trusts (includes $3,084 and $2,962, respectively, at fair value and loans pledged as collateral that may be sold or repledged of $460 and $2,522, respectively)
    2,610,540       2,577,133  
                 
Total loans held for investment
    2,996,896       2,984,361  
Allowance for loan losses
    (69,506 )     (61,556 )
                 
Total loans held for investment, net of allowance
    2,927,390       2,922,805  
                 
Total mortgage loans
    2,927,829       2,923,720  
Accrued interest receivable, net (includes $8,683 and $8,910, respectively, related to consolidated trusts)
    10,681       11,279  
Acquired property, net
    13,592       16,173  
Other assets (includes $59 and $593, respectively, related to consolidated trusts)
    24,134       26,826  
                 
Total assets
  $ 3,196,112     $ 3,221,972  
                 
 
LIABILITIES AND EQUITY (DEFICIT)
Liabilities:
               
Accrued interest payable (includes $9,584 and $9,712, respectively, related to consolidated trusts)
  $ 13,289     $ 13,764  
Federal funds purchased and securities sold under agreements to repurchase
          52  
Debt:
               
Of Fannie Mae (includes $862 and $893, respectively, at fair value)
    724,799       780,044  
Of consolidated trusts (includes $3,273 and $2,271, respectively, at fair value)
    2,450,046       2,416,956  
Other liabilities (includes $707 and $893, respectively, related to consolidated trusts)
    13,065       13,673  
                 
Total liabilities
    3,201,199       3,224,489  
                 
Commitments and contingencies (Note 14)
           
Fannie Mae stockholders’ equity (deficit):
               
Senior preferred stock, 1,000,000 shares issued and outstanding
    99,700       88,600  
Preferred stock, 700,000,000 shares are authorized—555,374,922 and 576,868,139 shares issued and outstanding, respectively
    19,130       20,204  
Common stock, no par value, no maximum authorization—1,308,762,703 and 1,270,092,708 shares issued, respectively; 1,157,750,434 and 1,118,504,194 shares outstanding, respectively
    687       667  
Accumulated deficit
    (115,784 )     (102,986 )
Accumulated other comprehensive loss
    (1,499 )     (1,682 )
Treasury stock, at cost, 151,012,269 and 151,588,514 shares, respectively
    (7,402 )     (7,402 )
                 
Total Fannie Mae stockholders’ deficit
    (5,168 )     (2,599 )
                 
Noncontrolling interest
    81       82  
                 
Total deficit
    (5,087 )     (2,517 )
                 
Total liabilities and equity (deficit)
  $ 3,196,112     $ 3,221,972  
                 
 
See Notes to Condensed Consolidated Financial Statements


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