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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

FANNIE MAE
(In conservatorship)

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(UNAUDITED)
 
                                                 
    For the Six Months Ended June 30, 2011  
          Other Activity/
       
    Business Segments     Reconciling Items        
    Single-
          Capital
    Consolidated
    Eliminations/
    Total
 
    Family     Multifamily     Markets     Trusts(1)     Adjustments(2)     Results  
    (Dollars in millions)  
 
Net interest income (expense)
  $ (1,578 )   $ (20 )   $ 7,577     $ 2,888     $ 1,065 (3)   $ 9,932  
Provision for loan losses
    (16,289 )     (100 )                       (16,389 )
                                                 
Net interest income (expense) after provision for loan losses
    (17,867 )     (120 )     7,577       2,888       1,065       (6,457 )
Guaranty fee income (expense)
    3,751       425       (790 )     (2,226 )(4)     (1,060 )(4)     100 (4)
Investment gains (losses), net
    (5 )     5       1,788       (169 )     (1,373 )(5)     246  
Net other-than-temporary impairments
                (99 )     (1 )           (100 )
Fair value losses, net
    (3 )           (1,289 )     (105 )     52 (6)     (1,345 )
Debt extinguishment gains (losses), net
                (79 )     49             (30 )
Gains from partnership investments
          22                   1       23 (7)
Fee and other income (expense)
    261       115       184       (155 )     (3 )     402  
Administrative expenses
    (816 )     (132 )     (226 )                 (1,174 )
Benefit (provision) for guaranty losses
    (743 )     41                         (702 )
Foreclosed property expense
    (7 )     (3 )                       (10 )
Other income (expenses)
    (395 )     42       (18 )           (36 )     (407 )
                                                 
Income (loss) before federal income taxes
    (15,824 )     395       7,048       281       (1,354 )     (9,454 )
Benefit (provision) for federal income taxes
    107       (61 )     45                   91  
                                                 
Net income (loss)
    (15,717 )     334       7,093       281       (1,354 )     (9,363 )
Net income attributable to noncontrolling interest
                            (1 )(8)     (1 )
                                                 
Net income (loss) attributable to Fannie Mae
  $ (15,717 )   $ 334     $ 7,093     $ 281     $ (1,355 )   $ (9,364 )
                                                 
 

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