Fannie Mae 2010 Annual Report Download - page 386

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 years ended December 31, 2010, 2009 and
2008, as a result of fair value measurements.
Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Estimated
Fair
Value
Total
Losses
Fair Value Measurements
For the Year Ended December 31, 2010
For the Year
Ended
December 31, 2010
(Dollars in millions)
Assets:
Mortgage loans held for sale, at lower of cost or
fair value . . . . . . . . . . . . . . . . . . . . . . . . . . . . $— $6,776 $ 535 $7,311
(1)(2)
$ (91)
(2)
Single-family mortgage loans held for investment,
at amortized cost:
Of Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . — — 38,150 38,150
(3)
(2,244)
Of consolidated trusts . . . . . . . . . . . . . . . . . . — — 1,294 1,294
(3)
(235)
Multifamily mortgage loans held for investment, at
amortized cost:
Of Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . — — 1,836 1,836
(3)
(481)
Acquired property, net:
Single-family . . . . . . . . . . . . . . . . . . . . . . . . . . — — 20,248 20,248
(4)
(2,617)
Multifamily . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 206 206
(4)
(65)
Other assets
Guaranty assets . . . . . . . . . . . . . . . . . . . . . . . . — — 27 27 (6)
Partnership investments. . . . . . . . . . . . . . . . . . . — — 107 107 (145)
(6)
Other assets. . . . . . . . . . . . . . . . . . . . . . . . . . . — — 597 597
(5)
(43)
Total assets at fair value . . . . . . . . . . . . . . . . . . $— $6,776 $63,000 $ 69,776 $(5,927)
F-128
FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)