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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)
 
Nonrecurring Changes in Fair Value
 
The following tables display assets and liabilities measured in our condensed consolidated balance sheets at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when we evaluate for impairment), and the gains or losses recognized for these assets and liabilities for the three and six months ended June 30, 2011 and 2010 as a result of fair value measurements.
 
                                                 
                            For the
    For the
 
                            Three Months
    Six Months
 
    Fair Value Measurements
    Ended
    Ended
 
    For the Six Months Ended June 30, 2011     June 30, 2011     June 30, 2011  
    Quoted
                               
    Prices in
                               
    Active
    Significant
                         
    Markets for
    Other
    Significant
                   
    Identical
    Observable
    Unobservable
    Estimated
             
    Assets
    Inputs
    Inputs
    Fair
    Total
    Total
 
    (Level 1)     (Level 2)     (Level 3)     Value     Losses     Losses  
                (Dollars in millions)              
 
Assets:
                                               
Mortgage loans held for sale, at lower of cost or fair value
  $     $ 2     $ 204     $ 206 (1)   $ (8 )   $ (13 )
Single-family mortgage loans held for investment, at amortized cost:
                                               
Of Fannie Mae
                32,970       32,970 (2)     (66 )     (1,080 )
Of consolidated trusts
                749       749 (2)     (18 )     (98 )
Multifamily mortgage loans held for investment, at amortized cost:
                                               
Of Fannie Mae
                1,365       1,365 (2)     (28 )     (108 )
Acquired property, net:
                                               
Single-family
                14,806       14,806 (3)     (701 )     (1,512 )
Multifamily
                227       227 (3)     (33 )     (49 )
Other assets
                877       877 (5)     (35 )     (65 )
                                                 
Total assets at fair value
  $     $ 2     $ 51,198     $ 51,200     $ (889 )   $ (2,925 )
                                                 
 


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