Fannie Mae 2009 Annual Report Download - page 315

Maturity Information
The following table displays the amortized cost and fair value of our AFS securities by major security type
and remaining maturity, assuming no principal prepayments, as of December 31, 2009. Contractual maturity of
mortgage-backed securities is not a reliable indicator of their expected life because borrowers generally have
the right to prepay their obligations at any time.
Total
Amortized
Cost
Total
Fair
Value
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
One Year or Less
After One Year
Through Five Years
After Five Years
Through Ten Years After Ten Years
As of December 31, 2009
(Dollars in millions)
Fannie Mae . . . .............. $148,074 $154,419 $20 $21 $ 681 $ 718 $21,743 $22,719 $125,630 $130,961
Freddie Mac . . .............. 26,281 27,469 25 25 62 64 1,738 1,822 24,456 25,558
Ginnie Mae . . . .............. 1,253 1,353 — — — — 5 5 1,248 1,348
Alt-A . . ................... 17,836 14,150 — — — — 351 332 17,485 13,818
Subprime .................. 13,232 10,746 — — — — — — 13,232 10,746
CMBS . ................... 15,797 13,193 — — 375 366 15,057 12,584 365 243
Mortgage revenue bonds......... 13,679 12,846 29 29 377 388 822 823 12,451 11,606
Other mortgage-related securities . . . 4,225 3,552 — — — — — 21 4,225 3,531
Total . . ................... $240,377 $237,728 $74 $75 $1,495 $1,536 $39,716 $38,306 $199,092 $197,811
Accumulated Other Comprehensive Loss
The following table displays the details of accumulated other comprehensive loss as of December 31, 2009,
2008, and 2007.
2009 2008 2007
As of December 31,
(Dollars in millions)
Net unrealized gains (losses) on available-for-sale securities for which we have
not recorded other-than-temporary impairment . . . . . . . . . . . . . . . . . . . . . . . $ 1,337 $(7,291) $(1,644)
Net unrealized losses on available-for-sale securities for which we have recorded
other-than-temporary impairment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3,059) — —
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (10) (382) 282
Accumulated other comprehensive loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(1,732) $(7,673) $(1,362)
6. Portfolio Securitizations
We issue Fannie Mae MBS through securitization transactions by transferring pools of mortgage loans or
mortgage-related securities to one or more trusts or special purpose entities. We are considered to be the
transferor when we transfer assets from our own portfolio in a portfolio securitization. For the years ended
December 31, 2009 and 2008, the unpaid principal balance of portfolio securitizations was $216.1 billion and
$41.1 billion, respectively.
For the transfers we recorded as sales, we have continuing involvement in the assets transferred to a trust as a
result of our investments in securities issued by the trusts and our guaranty and master servicing relationships.
F-57
FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)