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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 Three Months Ended June 30, 2010  
          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)
  $ (1,385 )   $ 5     $ 3,549     $ 1,282     $ 756 (3)   $ 4,207  
Benefit (provision) for loan losses
    (4,319 )     24                         (4,295 )
                                                 
Net interest income (expense) after provision for loan losses
    (5,704 )     29       3,549       1,282       756       (88 )
Guaranty fee income (expense)
    1,795       195       (360 )     (1,130 )(4)     (448 )(4)     52 (4)
Investment gains (losses), net
    2       (1 )     779       (28 )     (729 )(5)     23  
Net other-than-temporary impairments
                (137 )                 (137 )
Fair value gains, net
                631       11       (339 )(6)     303  
Debt extinguishment losses, net
                (128 )     (31 )           (159 )
Losses from partnership investments
          (22 )                 (4 )     (26 )(7)
Fee and other income (expense)
    85       28       136       (7 )           242  
Administrative expenses
    (436 )     (93 )     (141 )                 (670 )
Benefit (provision) for guaranty losses
    (73 )     4                         (69 )
Foreclosed property expense
    (479 )     (8 )                       (487 )
Other income (expenses)
    (259 )     (11 )     91             (19 )     (198 )
                                                 
Income (loss) before federal income taxes
    (5,069 )     121       4,420       97       (783 )     (1,214 )
Benefit (provision) for federal income taxes
    1       (2 )     (8 )                 (9 )
                                                 
Net income (loss)
    (5,068 )     119       4,412       97       (783 )     (1,223 )
Less: Net loss attributable to noncontrolling interests
                            5 (8)     5  
                                                 
Net income (loss) attributable to Fannie Mae
  $ (5,068 )   $ 119     $ 4,412     $ 97     $ (778 )   $ (1,218 )
                                                 
 

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