Fannie Mae 2009 Annual Report Download - page 76

(2)
We began separately reporting the revenues from trust management income in our consolidated statements of
operations effective November 2006. We previously included these revenues as a component of interest income. We
have not reclassified prior period amounts to conform to the current period presentation.
(3)
Consists of the following: (a) derivatives fair value gains (losses), net; (b) trading securities gains (losses), net;
(c) hedged mortgage assets gains (losses), net; (d) debt foreign exchange gains (losses), net; and (e) debt fair value
gains (losses), net.
(4)
Consists of provision for credit losses and foreclosed property expense.
(5)
Consists of the following: (a) debt extinguishment gains (losses), net; (b) losses from partnership investments; and
(c) fee and other income.
(6)
Includes the weighted-average shares of common stock that would be issuable upon the full exercise of the warrant
issued to Treasury from the date of conservatorship through the end of the period for 2008 and for the full year for
2009. Because the warrant’s exercise price of $0.00001 per share is considered non-substantive (compared to the
market price of our common stock), the warrant was evaluated based on its substance over form. It was determined to
have characteristics of non-voting common stock, and thus included in the computation of basic earnings (loss) per
share.
(7)
Reflects unpaid principal balance of Fannie Mae MBS issued and guaranteed by us during the reporting period less:
(a) securitizations of mortgage loans held in our mortgage portfolio during the reporting period and (b) Fannie Mae
MBS purchased for our mortgage portfolio during the reporting period.
(8)
Reflects unpaid principal balance of mortgage loans and mortgage-related securities we purchased for our investment
portfolio during the reporting period. Includes acquisition of mortgage-related securities accounted for as the
extinguishment of debt because the entity underlying the mortgage-related securities has been consolidated in our
consolidated balance sheet. Includes capitalized interest beginning in 2006.
(9)
Mortgage loans consist solely of domestic residential real-estate mortgages.
(10)
Total assets less total liabilities.
(11)
Unpaid principal balance of mortgage loans and mortgage-related securities (including Fannie Mae MBS) held in our
portfolio.
(12)
Reflects unpaid principal balance of Fannie Mae MBS held by third-party investors. The principal balance of
resecuritized Fannie Mae MBS is included only once in the reported amount.
(13)
Primarily includes long-term standby commitments we have issued and single-family and multifamily credit
enhancements we have provided and that are not otherwise reflected in the table.
(14)
Reflects mortgage credit book of business less non-Fannie Mae mortgage-related securities held in our investment
portfolio for which we do not provide a guaranty.
(15)
Consists of on-balance sheet nonperforming loans held in our mortgage portfolio and off-balance sheet
nonperforming loans in Fannie Mae MBS held by third parties. Includes all nonaccrual loans, as well as troubled debt
restructurings (“TDRs”) and HomeSaver Advance first-lien loans on accrual status. We generally classify single
family and multifamily loans as nonperforming when the payment of principal or interest on the loan is equal to or
greater than two and three months past due, respectively. A troubled debt restructuring is a restructuring of a
mortgage loan in which a concession is granted to a borrower experiencing financial difficulty. Prior to 2008, the
nonperforming loans that we reported consisted of on-balance sheet nonperforming loans held in our mortgage
portfolio and did not include off-balance nonperforming loans in Fannie Mae MBS held by third parties. We have
revised previously reported amounts to conform to the current period presentation.
(16)
Calculated based on net interest income for the reporting period divided by the average balance of total interest-
earning assets during the period, expressed as a percentage.
(17)
Calculated based on guaranty fee income for the reporting period divided by average outstanding Fannie Mae MBS
and other guarantees during the period, expressed in basis points.
(18)
Consists of (a) charge-offs, net of recoveries and (b) foreclosed property expense for the reporting period divided by
the average guaranty book of business during the period, expressed in basis points.
(19)
Calculated based on net income (loss) available to common stockholders for the reporting period divided by average
total assets during the period, expressed as a percentage.
(20)
Calculated based on net income (loss) available to common stockholders for the reporting period divided by average
outstanding common equity during the period, expressed as a percentage.
(21)
Calculated based on average stockholders’ equity divided by average total assets during the reporting period,
expressed as a percentage.
(22)
Calculated based on common dividends declared during the reporting period divided by net income available to
common stockholders for the reporting period, expressed as a percentage.
Note:
* Average balances for purposes of ratio calculations are based on balances at the beginning of the year and at the end of
each respective quarter for 2009, 2008 and 2007. Average balances for purposes of ratio calculations for all other years
are based on beginning and end of year balances.
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