Fannie Mae 2006 Annual Report Download - page 59

2006 2005 2004 2003 2002
As of December 31,
(Dollars in millions)
Balance Sheet Data:
Investments in securities:
Trading . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 11,514 $ 15,110 $ 35,287 $ 43,798 $ 14,909
Available-for-sale . . . . . . . . . . . . . . . . . . . . . . . . 378,598 390,964 532,095 523,272 520,176
Mortgage loans:
Loans held for sale . . . . . . . . . . . . . . . . . . . . . . . 4,868 5,064 11,721 13,596 20,192
Loans held for investment, net of allowance . . . . . 378,687 362,479 389,651 385,465 304,178
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 843,936 834,168 1,020,934 1,022,275 904,739
Short-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . 165,810 173,186 320,280 343,662 293,538
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . 601,236 590,824 632,831 617,618 547,755
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . 802,294 794,745 981,956 990,002 872,840
Preferred stock . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,108 9,108 9,108 4,108 2,678
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . 41,506 39,302 38,902 32,268 31,899
Regulatory Capital Data:
Core capital
(4)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 41,950 $ 39,433 $ 34,514 $ 26,953 $ 20,431
Total capital
(5)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . 42,703 40,091 35,196 27,487 20,831
Mortgage Credit Book of Business Data:
Mortgage portfolio
(6)
. . . . . . . . . . . . . . . . . . . . . . . $ 728,932 $ 737,889 $ 917,209 $ 908,868 $ 799,779
Fannie Mae MBS held by third parties
(7)
. . . . . . . . . 1,777,550 1,598,918 1,408,047 1,300,520 1,040,439
Other guarantees
(8)
. . . . . . . . . . . . . . . . . . . . . . . . . 19,747 19,152 14,825 13,168 12,027
Mortgage credit book of business . . . . . . . . . . . . . $2,526,229 $2,355,959 $2,340,081 $2,222,556 $1,852,245
Ratios: 2006 2005 2004 2003 2002
Return on assets ratio
(9)*
. . . . . . . . . . . . . . . . . . . . . 0.42% 0.63% 0.47% 0.82% 0.44%
Return on equity ratio
(10)*
. . . . . . . . . . . . . . . . . . . . 11.3 19.5 16.6 27.6 15.2
Equity to assets ratio
(11)*
.................... 4.8 4.2 3.5 3.3 3.2
Dividend payout ratio
(12)*
. . . . . . . . . . . . . . . . . . . . 32.4 17.2 42.1 20.8 34.5
Average effective guaranty fee rate (in basis
points)
(13)*
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.8 bp 21.8 bp 21.4 bp 21.6 bp 19.3 bp
Credit loss ratio (in basis points)
(14)*
. . . . . . . . . . . . 2.7 bp 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
(15)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.12:1 1.23:1 1.22:1 1.36:1 1.16:1
(1)
Includes losses on certain guaranty contracts, investment losses, net; debt extinguishment gains (losses), net; losses
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
reporting 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
portfolio. Includes advances to lenders and mortgage-related securities acquired through the extinguishment of debt.
(4)
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.
(5)
The sum of (a) core capital and (b) the total allowance for loan losses and reserve for guaranty losses, less (c) the
specific loss allowance (that is, the allowance required on individually-impaired loans).
(6)
Unpaid principal balance of mortgage loans and mortgage-related securities held in our portfolio.
(7)
Unpaid principal balance of Fannie Mae MBS held by third-party investors. The principal balance of resecuritized
Fannie Mae MBS is included only once.
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