Fannie Mae 2002 Annual Report Download - page 41

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39
FANNIE MAE 2002 ANNUAL REPORT
TABLE 8: MORTGAGE PORTFOLIO COMPOSITION1
Dollars in millions 2002 2001 2000 1999 1998
Mortgages
Single-family:
Government insured or guaranteed . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,458 $5,070 $ 4,762 $ 4,472 $ 4,404
Conventional:
Long-term, fixed-rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103,220 96,417 87,005 86,787 87,739
Intermediate-term, fixed-rate2. . . . . . . . . . . . . . . . . . . . . . . . . . 54,503 43,522 39,134 43,878 47,818
Adjustable-rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,045 10,410 13,243 6,058 7,632
Total conventional single-family . . . . . . . . . . . . . . . . . . . . . . . 166,768 150,349 139,382 136,723 143,189
Total single-family. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172,226 155,419 144,144 141,195 147,593
Multifamily:
Government insured or guaranteed . . . . . . . . . . . . . . . . . . . . . . . . . 1,353 1,551 1,814 2,347 2,594
Conventional . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,218 8,987 6,547 5,564 5,591
Total multifamily . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,571 10,538 8,361 7,911 8,185
Total mortgages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $185,797 $165,957 $152,505 $149,106 $155,778
Mortgage-related securities
Single-family:
Government insured or guaranteed . . . . . . . . . . . . . . . . . . . . . . . . . $33,293 $37,111 $ 39,404 $ 36,557 $ 17,401
Conventional:
Long-term, fixed-rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 510,435 456,046 367,344 298,534 209,367
Intermediate-term, fixed-rate2. . . . . . . . . . . . . . . . . . . . . . . . . . 39,409 25,890 27,965 25,317 23,948
Adjustable-rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,946 10,355 13,892 8,049 4,241
Total conventional single-family . . . . . . . . . . . . . . . . . . . . . . . 563,790 492,291 409,201 331,900 237,556
Total single-family. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 597,083 529,402 448,605 368,457 254,957
Multifamily:
Government insured or guaranteed . . . . . . . . . . . . . . . . . . . . . . . . . 7,370 6,481 5,370 4,392 2,765
Conventional . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,050 5,636 3,642 1,986 1,015
Total multifamily . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,420 12,117 9,012 6,378 3,780
Total mortgage-related securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $611,503 $541,519 $457,617 $374,835 $258,737
Mortgage portfolio, net
Single-family:
Government insured or guaranteed . . . . . . . . . . . . . . . . . . . . . . . . . $38,751 $42,181 $ 44,166 $ 41,029 $ 21,805
Conventional:
Long-term, fixed-rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 613,655 552,463 454,349 385,321 297,106
Intermediate-term, fixed-rate2. . . . . . . . . . . . . . . . . . . . . . . . . . 93,912 69,412 67,099 69,195 71,766
Adjustable-rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,991 20,765 27,135 14,107 11,873
Total conventional single-family . . . . . . . . . . . . . . . . . . . . . . . 730,558 642,640 548,583 468,623 380,745
Total single-family. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 769,309 684,821 592,749 509,652 402,550
Multifamily:
Government insured or guaranteed . . . . . . . . . . . . . . . . . . . . . . . . . 8,723 8,032 7,184 6,739 5,359
Conventional . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,268 14,623 10,189 7,550 6,606
Total multifamily . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,991 22,655 17,373 14,289 11,965
Total mortgage portfolio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 797,300 707,476 610,122 523,941 414,515
Unamortized premium (discount) and
deferred price adjustments, net3. . . . . . . . . . . . . . . . . . . . . . . . . . . . 472 (2,104) (2,520) (964) 919
Allowance for loan losses4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (79) (48) (51) (56) (79)
Mortgage portfolio, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $797,693 $705,324 $607,551 $522,921 $415,355
1Amounts presented have been restated to conform to the current year presentation. Data represents unpaid principal balance adjusted to include mark-to-market gains and losses on available-for-sale securities.
2Intermediate-term, fixed-rate consists of portfolio loans with contractual maturities at purchase equal to or less than 20 years and MBS and other mortgage-related securities held in portfolio with maturities of 15 years
or less at issue date.
3Includes net unamortized premiums of $135 million, $536 million, and $559 million at December 31, 2002, 2001, and 1998, respectively, and net unamortized discounts of $2,311 million and $586 million at
December 31, 2000 and 1999, respectively, related to available-for-sale and held-to-maturity mortgage-related securities.
4Guaranty liability for probable losses on loans underlying Fannie Mae guaranteed MBS is included in “Guaranty liability for MBS.”