Fannie Mae 2005 Annual Report Download - page 65

2005 2004 2003 2002 2001
As of December 31,
(Dollars in millions)
Balance Sheet Data:
Investments in securities:
Trading
(4)
. . . . . . . . . . . . . . . . . . . . . . . . $ 15,110 $ 35,287 $ 43,798 $ 14,909 $ (45)
Available-for-sale . . . . . . . . . . . . . . . . . . . 390,964 532,095 523,272 520,176 503,381
Mortgage loans:
Loans held for sale . . . . . . . . . . . . . . . . . . 5,064 11,721 13,596 20,192 11,327
Loans held for investment, net of
allowance . . . . . . . . . . . . . . . . . . . . . . 362,479 389,651 385,465 304,178 267,510
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . 834,168 1,020,934 1,022,275 904,739 814,561
Short-term debt . . . . . . . . . . . . . . . . . . . . . . 173,186 320,280 343,662 293,538 280,848
Long-term debt . . . . . . . . . . . . . . . . . . . . . . 590,824 632,831 617,618 547,755 484,182
Total liabilities . . . . . . . . . . . . . . . . . . . . . . 794,745 981,956 990,002 872,840 791,305
Preferred stock . . . . . . . . . . . . . . . . . . . . . . 9,108 9,108 4,108 2,678 2,303
Total stockholders’ equity . . . . . . . . . . . . . . . 39,302 38,902 32,268 31,899 23,256
Regulatory Capital Data:
Core capital
(5)
. . . . . . . . . . . . . . . . . . . . . . . $ 39,433 $ 34,514 $ 26,953 $ 20,431 $ 18,234
Total capital
(6)
. . . . . . . . . . . . . . . . . . . . . . . 40,091 35,196 27,487 20,831 18,500
Mortgage Credit Book of Business Data:
Mortgage portfolio
(7)
. . . . . . . . . . . . . . . . . . $ 737,889 $ 917,209 $ 908,868 $ 799,779 $ 715,953
Fannie Mae MBS held by third parties
(8)
. . . . 1,598,918 1,408,047 1,300,520 1,040,439 878,039
Other guarantees
(9)
. . . . . . . . . . . . . . . . . . . . 19,152 14,825 13,168 12,027 16,421
Mortgage credit book of business . . . . . . $2,355,959 $2,340,081 $2,222,556 $1,852,245 $1,610,413
2005 2004 2003 2002
Ratios:
Return on assets ratio
(10)*
. . . . . . . . . . . . . . . 0.63% 0.47% 0.82% 0.44%
Return on equity ratio
(11)*
. . . . . . . . . . . . . . 19.5 16.6 27.6 15.2
Equity to assets ratio
(12)*
............... 4.2 3.5 3.3 3.2
Dividend payout ratio
(13)*
. . . . . . . . . . . . . . . 17.2 42.1 20.8 34.5
Average effective guaranty fee rate (in basis
points)
(14)*
. . . . . . . . . . . . . . . . . . . . . . . 21.0 bp 20.8 bp 21.0 bp 19.3 bp
Credit loss ratio (in basis points)
(15)*
. . . . . . . 1.9 bp 1.0 bp 0.9 bp 0.8 bp
Earnings to combined fixed charges and
preferred stock dividends and issuance costs
at redemption ratio
(16)
. . . . . . . . . . . . . . . . 1.23:1 1.22:1 1.36:1 1.16:1
(1)
Includes investment losses, net; debt extinguishment losses, net; loss from partnership investments; and fee and other
income.
(2)
Unpaid principal balance of MBS issued and guaranteed by us and acquired by third-party investors during the report-
ing period. Excludes securitizations of mortgage loans held in our portfolio.
(3)
Unpaid principal balance of mortgage loans and mortgage-related securities we purchased for our investment portfo-
lio. Includes advances to lenders and mortgage-related securities acquired through the extinguishment of debt.
(4)
Balance as of December 31, 2001 primarily represents the fair value of forward purchases of TBA mortgage securities
that were in a loss position.
(5)
The sum of (a) the stated value of outstanding common stock (common stock less treasury stock); (b) the stated value
of outstanding non-cumulative perpetual preferred stock; (c) paid-in-capital; and (d) retained earnings. Core capital
excludes accumulated other comprehensive income.
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