Freddie Mac 2015 Annual Report Download - page 246

Financial Statements Notes to the Consolidated Financial Statements | Note 4
Freddie Mac 2015 Form 10-K 244
Balance at December 31, 2014 For the Year Ended December 31, 2014
(in millions) UPB Recorded Investment Associated Allowance Net Investment
Average
Recorded
Investment
Interest
Income
Recognized
Interest Income
Recognized
On Cash Basis(1)
Single-family —
With no specific allowance
recorded:(2)
20 and 30-year or more,
amortizing fixed-rate $ 6,041 $ 4,007 N/A $ 4,007 $ 3,727 $ 376 $ 33
15-year amortizing fixed-
rate 63 44 N/A 44 39 10 1
Adjustable rate 27 22 N/A 22 17 1 —
Alt-A, interest-only, and
option ARM 1,717 1,168 N/A 1,168 1,133 81 6
Total with no specific
allowance recorded 7,848 5,241 N/A 5,241 4,916 468 40
With specific allowance
recorded:(3)
20 and 30-year or more,
amortizing fixed-rate 77,798 76,708 $ (14,051) 62,657 75,773 2,357 279
15-year amortizing fixed-
rate 1,226 1,233 (40) 1,193 1,242 54 10
Adjustable rate 868 866 (65) 801 881 23 6
Alt-A, interest-only, and
option ARM 16,734 16,335 (3,681) 12,654 16,476 380 58
Total with specific allowance
recorded 96,626 95,142 (17,837) 77,305 94,372 2,814 353
Combined single-family:
20 and 30-year or more,
amortizing fixed-rate 83,839 80,715 (14,051) 66,664 79,500 2,733 312
15-year amortizing fixed-
rate 1,289 1,277 (40) 1,237 1,281 64 11
Adjustable rate 895 888 (65) 823 898 24 6
Alt-A, interest-only, and
option ARM 18,451 17,503 (3,681) 13,822 17,609 461 64
Total single-family $ 104,474 $ 100,383 $ (17,837) $ 82,546 $ 99,288 $ 3,282 $ 393
Multifamily —
With no specific allowance
recorded(2) $ 440 $ 431 N/A $ 431 $ 659 $ 29 $ 9
With specific allowance
recorded 480 471 $ (52) 419 535 26 16
Total multifamily $ 920 $ 902 $ (52) $ 850 $ 1,194 $ 55 $ 25
Total single-family and
multifamily $ 105,394 $ 101,285 $ (17,889) $ 83,396 $ 100,482 $ 3,337 $ 418
(1) Consists of income recognized during the period related to loans on non-accrual status.
(2) Individually impaired loans with no specific related valuation allowance primarily represent those loans for which the collateral
value is sufficiently in excess of the loan balance to result in recovery of the entire recorded investment if the property were
foreclosed upon or otherwise subject to disposition.
(3) Consists primarily of loans classified as TDRs.