Fannie Mae 2011 Annual Report Download - page 105
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(3) Represents the fair value losses on loans purchased out of unconsolidated MBS trusts reflected in our consolidated
balance sheets.
We refer to our allowance for loan losses and reserve for guaranty losses collectively as our combined loss
reserves. We summarize the changes in our combined loss reserves in Table 12. Because we recognized
mortgage loans held by newly consolidated trusts upon adoption of the consolidation accounting guidance on
January 1, 2010, we increased our “Allowance for loan losses” and decreased our “Reserve for guaranty losses.”
The impact at the transition date is reported as “Adoption of consolidation accounting guidance.” The decrease in
the combined loss reserves on the adoption date represents a difference in the methodology used to estimate
incurred losses for our allowance for loan losses as compared with our reserve for guaranty losses and our
separate presentation of the portion of the allowance related to accrued interest as our “Allowance for accrued
interest receivable.”
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