SEC Filings

Form 10-K
FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE filed this Form 10-K on 02/14/2019
Document Outline
Entire Document (32624.7 KB)
Subdocument 1 - 10-K - 10-K
Page 1 - UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Page 2 - N/A
Page 3 - N/A
Page 4 - PART I
Page 5 - Executive Summary
Page 6 - Net Worth.
Page 7 - Our Strategic Objectives
Page 8 - Strong underwriting and eligibility standards
Page 9 - Sources of Net Interest Income and Retained Mortgage Portfolio Balance
Page 10 - Providing great service to our customers and partners, enabling them to serve the needs of American
Page 11 - Securitization Transactions
Page 12 - Portfolio Securitization Transactions
Page 13 - Common Securitization Platform and Single Security Initiative
Page 14 - Managing Mortgage Credit Risk
Page 15 - Conservatorship, Treasury Agreements and Housing Finance Reform
Page 16 - Senior Preferred Stock Purchase Agreement
Page 17 - Common Stock Warrant
Page 18 - Debt Limit.
Page 19 - Legislative Developments
Page 20 - Principal balance limitations.
Page 21 - Conservatorship Capital Framework
Page 22 - Affordable Housing Allocations
Page 23 - Fair Lending
Page 24 - Duty to Serve Underserved Markets
Page 25 - Ability to Repay
Page 26 - The Future of LIBOR and Alternative Reference Rates
Page 27 - N/A
Page 28 - Item 1A. Risk Factors
Page 29 - GSE and Conservatorship Risk
Page 30 - Our business and results of operations may be materially adversely affected if we are unable to reta
Page 31 - Our business activities are significantly affected by the conservatorship and the senior preferred s
Page 32 - We may undertake efforts that adversely affect our business, results of operations, financial condit
Page 33 - Exercise of the Treasury warrant would substantially dilute the investment of current shareholders.
Page 34 - We are limited in our ability to diversify our business and may be prohibited from undertaking activ
Page 35 - One or more of our institutional counterparties may fail to fulfill their contractual obligations to
Page 36 - We may incur losses as a result of claims under our mortgage insurance policies not being paid in fu
Page 37 - Operational Risk
Page 38 - Our concurrent implementation of multiple new initiatives may increase our operational risk and resu
Page 39 - Material weaknesses in our internal control over financial reporting could result in errors in our r
Page 40 - Liquidity and Funding Risk
Page 41 - Market and Industry Risk
Page 42 - Our business and financial results are affected by general economic conditions, particularly home pr
Page 43 - Legal, Regulatory and Other Risks
Page 44 - Legislative, regulatory or judicial actions could negatively impact our business, results of operati
Page 45 - District of Columbia.
Page 46 - Item 4. Mine Safety Disclosures
Page 47 - Our Purchases of Equity Securities
Page 48 - Item 6.Selected Financial Data
Page 49 - N/A
Page 50 - Item 7.Management s Discussion and Analysis of Financial Condition and Results of Operations
Page 51 - Housing and Mortgage Market
Page 52 - GDP, Unemployment Rate and Personal Income
Page 53 - Consolidated Results of Operations
Page 54 - N/A
Page 55 - Deferred Income Represented by Net Premium Position on Debt of Consolidated Trusts
Page 56 - Fee and Other Income
Page 57 - Risk Management Derivatives Fair Value Gains (Losses), Net
Page 58 - Mortgage Commitment Derivatives Fair Value Gains (Losses), Net
Page 59 - Benefit for Credit Losses
Page 60 - TCCA Fees
Page 61 - Consolidated Balance Sheet Analysis
Page 62 - Mortgage Loans, Net of Allowance for Loan Losses
Page 63 - Retained Mortgage Portfolio
Page 64 - Purchases of Loans from Our MBS Trusts
Page 65 - Total Book of Business
Page 66 - Business Segment Net Revenues and Pre-Tax Income
Page 67 - Single-Family Credit Risk and Credit Loss Management
Page 68 - Single-Family Market Share
Page 69 - N/A
Page 70 - Single-Family Mortgage Market
Page 71 - Single-Family Business Metrics
Page 72 - Average Charged Guaranty Fee on Single-Family Guaranty Book of Business and on New Single-Family Acq
Page 73 - Net interest income
Page 74 - Fair value gains (losses), net
Page 75 - Single-Family Mortgage Credit Risk Management
Page 76 - Other Underwriting Standards
Page 77 - Representation and Warranty Status of Single-Family Conventional Loans Acquired in 2013-2018(1)
Page 78 - Occupancy type.
Page 79 - N/A
Page 80 - N/A
Page 81 - HARP and Refi Plus Loans
Page 82 - Jumbo-Conforming and High-Balance Loans
Page 83 - Single-Family Credit Enhancement and Transfer of Mortgage Credit Risk
Page 84 - Credit Risk Transfer Transactions
Page 85 - Categories of our credit risk transfer transactions
Page 86 - N/A
Page 87 - Problem Loan Management
Page 88 - N/A
Page 89 - Role of Servicers in Loss Mitigation
Page 90 - Loan Workout Metrics
Page 91 - Loan Workout Activity
Page 92 - Nonperforming Loan Sales
Page 93 - Other Single-Family Credit Information
Page 94 - N/A
Page 95 - Single-Family Loss Reserves
Page 96 - Multifamily Business
Page 97 - Lenders:
Page 98 - Multifamily Customers
Page 99 - Multifamily Market Share
Page 100 - Multifamily New Business Volume
Page 101 - Multifamily Business Financial Results
Page 102 - Fair value losses, net
Page 103 - Multifamily Guaranty Book of Business
Page 104 - Percentage of Multifamily Guaranty Book of Business with Lender Risk Sharing
Page 105 - Multifamily Problem Loan Management and Foreclosure Prevention
Page 106 - Troubled Debt Restructurings and Nonaccrual Loans
Page 107 - Liquidity and Funding Risk Management Practices and Contingency Planning
Page 108 - Debt Funding
Page 109 - Debt Funding Activity
Page 110 - N/A
Page 111 - Contractual Obligations
Page 112 - Equity Funding
Page 113 - Other Investments Portfolio
Page 114 - Cash Flows
Page 115 - Off-Balance Sheet Arrangements
Page 116 - Risk Management
Page 117 - Components of Risk Management
Page 118 - Risk Management Governance
Page 119 - Establishment and Observance of Counterparty Eligibility Standards
Page 120 - Mortgage Insurer Concentration(1)
Page 121 - Reinsurers
Page 122 - Multifamily Lenders with Risk Sharing
Page 123 - Single-Family Mortgage Servicer Concentration
Page 124 - Counterparty Credit Exposure of Investments Held in our Other Investments Portfolio
Page 125 - Other Counterparties
Page 126 - Market Risk Management, Including Interest Rate Risk Management
Page 127 - Interest Rate Risk Management Strategy
Page 128 - Measurement of Interest Rate Risk
Page 129 - N/A
Page 130 - Liquidity and Funding Risk Management
Page 131 - Model Risk Management
Page 132 - Allowance for Loan Losses
Page 133 - Impact of Future Adoption of New Accounting Guidance
Page 134 - Conventional mortgage
Page 135 - REMIC Real Estate Mortgage Investment Conduit
Page 136 - Evaluation of Disclosure Controls and Procedures
Page 137 - Description of Material Weakness
Page 138 - Changes in Internal Control Over Financial Reporting
Page 139 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 140 - N/A
Page 141 - Item 9B. Other Information
Page 142 - N/A
Page 143 - N/A
Page 144 - N/A
Page 145 - Corporate Governance
Page 146 - Composition of Board of Directors
Page 147 - N/A
Page 148 - Board Leadership Structure
Page 149 - Audit Committee Membership
Page 150 - N/A
Page 151 - N/A
Page 152 - Section 16(a) Beneficial Ownership Reporting Compliance
Page 153 - 2018 Executive Compensation Program; Chief Executive Officer Compensation
Page 154 - Chief Executive Officer Compensation
Page 155 - Elements of 2018 Executive Compensation Program
Page 156 - Employee Benefits
Page 157 - Determination of 2018 Compensation
Page 158 - Compensation Arrangements with Current Chief Financial Officer
Page 159 - N/A
Page 160 - N/A
Page 161 - Assessment of Corporate Performance against 2018 Board of Directors Goals
Page 162 - N/A
Page 163 - Assessment of 2018 Individual Performance
Page 164 - Celeste Brown, Executive Vice President and Chief Financial Officer.
Page 165 - Other Executive Compensation Considerations
Page 166 - Compensation Recoupment Policy
Page 167 - Subsequent Determination of Cause.
Page 168 - Compensation Risk Assessment
Page 169 - Compensation Tables and Other Information
Page 170 - N/A
Page 171 - Plan-Based Awards
Page 172 - Nonqualified Deferred Compensation
Page 173 - Potential Payments Upon Termination or Change-in-Control
Page 174 - nolo contendere
Page 175 - Chief Executive Officer to Median Employee Pay Ratio
Page 176 - Additional Arrangements with our Non-Management Directors
Page 177 - Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matte
Page 178 - Item 13.Certain Relationships and Related Transactions, and Director Independence
Page 179 - Director Code of Conduct.
Page 180 - Transactions with Related Persons
Page 181 - Treasury Interest in Affordable Housing Allocations
Page 182 - Our Board of Directors
Page 183 - Item 14.Principal Accounting Fees and Services
Page 184 - Pre-Approval Policy
Page 185 - PART IV
Page 186 - N/A
Page 187 - Item 16.Form 10-K Summary
Page 188 - SIGNATURES
Page 189 - N/A
Page 190 - N/A
Page 191 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 192 - FANNIE MAE
Page 193 - FANNIE MAE
Page 194 - FANNIE MAE
Page 195 - FANNIE MAE
Page 196 - FANNIE MAE
Page 197 - Senior Preferred Stock Purchase Agreement, Senior Preferred Stock and Warrant
Page 198 - Related Parties
Page 199 - Transactions with FHFA
Page 200 - Measurement of Consolidated Assets and Liabilities
Page 201 - Multi-Class Resecuritization Trusts
Page 202 - Cash and Cash Equivalents, Restricted Cash and Statements of Cash Flows
Page 203 - Mortgage Loans
Page 204 - i.e
Page 205 - Individually Impaired Single-Family Loans
Page 206 - Acquired Property, Net
Page 207 - i.e
Page 208 - Income Taxes
Page 209 - New Accounting Guidance
Page 210 - 2. Consolidations and Transfers of Financial Assets
Page 211 - Limited Partnerships
Page 212 - Transfers of Financial Assets
Page 213 - 3. Mortgage Loans
Page 214 - Aging Analysis
Page 215 - Credit Quality Indicators
Page 216 - Individually Impaired Loans
Page 217 - Troubled Debt Restructurings
Page 218 - 4. Allowance for Loan Losses
Page 219 - N/A
Page 220 - 5. Investments in Securities
Page 221 - N/A
Page 222 - Other-Than-Temporary Impairments
Page 223 - 7. Short-Term and Long-Term Debt
Page 224 - Characteristics of Debt
Page 225 - Foreign currency swaps.
Page 226 - Notional and Fair Value Position of our Derivatives
Page 227 - Derivative Counterparty Credit Exposure
Page 228 - Deferred Tax Assets and Liabilities
Page 229 - Unrecognized Tax Benefits
Page 230 - Segment Allocations and Results
Page 231 - N/A
Page 232 - 11. Equity (Deficit)
Page 233 - Senior Preferred Stock and Common Stock Warrant
Page 234 - Variable Liquidation Preference Senior Preferred Stock, Series 2008-2
Page 235 - Net Worth Sweep Amendment.
Page 236 - Senior Preferred Stock Purchase Agreement with Treasury
Page 237 - Debt Limit.
Page 238 - Accumulated Other Comprehensive Income
Page 239 - Restrictions on Capital Distributions and Dividends
Page 240 - Single-Family Loan Borrowers
Page 241 - N/A
Page 242 - Other Concentrations
Page 243 - N/A
Page 244 - Mortgage Servicers and Sellers.
Page 245 - 14. Netting Arrangements
Page 246 - 15. Fair Value
Page 247 - Recurring Changes in Fair Value
Page 248 - N/A
Page 249 - N/A
Page 250 - N/A
Page 251 - N/A
Page 252 - N/A
Page 253 - N/A
Page 254 - N/A
Page 255 - N/A
Page 256 - N/A
Page 257 - N/A
Page 258 - Fair Value of Financial Instruments
Page 259 - N/A
Page 260 - Fair Value Option
Page 261 - Changes in Fair Value under the Fair Value Option Election
Page 262 - Arrowood Indemnity Company v. Fannie Mae Fairholme Funds v. FHFA,
Page 263 - 17. Selected Quarterly Financial Information (Unaudited)
Page 264 - N/A
Subdocument 2 - EX-3.2 - EXHIBIT 3.2
Page 1 - Exhibit 3.2
Page 2 - Section 2.02.
Page 3 - Section 2.10.
Page 4 - Section 3.05.
Page 5 - Section 3.09.
Page 6 - Section 3.12.
Page 7 - Section 4.03.
Page 8 - Section 4.10.
Page 9 - Section 4.18
Page 10 - Section 4.22.
Page 11 - Section 5.08.
Page 12 - Article 6: Indemnification
Page 13 - Section 7.02.
Subdocument 3 - EX-10.3 - EXHIBIT 10.3
Page 1 - Exhibit 10.3
Page 2 - Service by Indemnitee
Page 3 - Indemnity in Proceedings by or in the Name of Fannie Mae
Page 4 - nolo contendere
Page 5 - de novo
Page 6 - Advancement of Expenses
Page 7 - Headings; References; Pronouns
Page 8 - N/A
Page 9 - EXHIBIT 1
Page 10 - N/A
Page 11 - N/A
Page 12 - EXHIBIT 2
Subdocument 4 - EX-31.1 - EXHIBIT 31.1
Page 1 - N/A
Subdocument 5 - EX-31.2 - EXHIBIT 31.2
Page 1 - N/A
Subdocument 6 - EX-32.1 - EXHIBIT 32.1
Page 1 - N/A
Subdocument 7 - EX-32.2 - EXHIBIT 32.2
Page 1 - N/A
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