Fannie Mae 2013 Annual Report Download - page 262

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
F-38
As of December 31, 2013
Total
Amortized
Cost (1)
Gross
Unrealized
Gains
Gross
Unrealized
Losses -
OTTI (2)
Gross
Unrealized
Losses -
Other (3)
Total
Fair
Value
(Dollars in millions)
Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,227 $ 390 $ — $ (44) $ 6,573
Freddie Mac. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,365 477 — — 6,842
Ginnie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 512 76 — — 588
Alt-A private-label securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,240 1,151 (40)(2) 7,349
Subprime private-label securities . . . . . . . . . . . . . . . . . . . . . . . . 6,232 991 (102)(53) 7,068
CMBS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,526 80 — — 1,606
Mortgage revenue bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,645 35 (228)(196) 5,256
Other mortgage-related securities . . . . . . . . . . . . . . . . . . . . . . . . 2,943 164 (15)(203) 2,889
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $35,690 $ 3,364 $ (385) $ (498) $ 38,171
.
As of December 31, 2012
Total
Amortized
Cost (1)
Gross
Unrealized
Gains
Gross
Unrealized
Losses -
OTTI (2)
Gross
Unrealized
Losses -
Other (3)
Total
Fair
Value
(Dollars in millions)
Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 9,580 $ 871 $ — $ (16) $ 10,435
Freddie Mac. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,652 728 — — 9,380
Ginnie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 645 106 — — 751
Alt-A private-label securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,356 452 (637)(96) 11,075
Subprime private-label securities . . . . . . . . . . . . . . . . . . . . . . . . 8,137 217 (669)(238) 7,447
CMBS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,284 824 — (11) 13,097
Mortgage revenue bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,782 157 (45)(52) 7,842
Other mortgage-related securities . . . . . . . . . . . . . . . . . . . . . . . . 3,330 109 (18)(267) 3,154
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $61,766 $ 3,464 $(1,369) $ (680) $ 63,181
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s
(1) Amortized cost consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments as well as net
other-than-temporary impairments (“OTTI”) recognized in our consolidated statements of operations and comprehensive income (loss).
(2) Represents the noncredit component of other-than-temporary impairments losses recorded in “Accumulated other comprehensive
income” as well as cumulative changes in fair value of securities for which we previously recognized the credit component of other-
than-temporary impairments.
(3) Represents the gross unrealized losses on securities for which we have not recognized other-than-temporary impairments.