Fannie Mae 2013 Annual Report Download - page 71

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As of December 31,
2013 2012 2011 2010 2009
(Dollars in millions)
Book of business data:
Total mortgage assets(8) . . . . . . . . . . . . $ 3,092,424 $3,063,712 $3,065,616 $3,099,250 $ 769,252
Unconsolidated Fannie Mae MBS,
held by third parties(9). . . . . . . . . . . . 13,744 16,915 19,612 21,323 2,432,789
Other guarantees(10) . . . . . . . . . . . . . . . 30,597 36,215 42,406 35,619 27,624
Mortgage credit book of business . . . $ 3,136,765 $3,116,842 $3,127,634 $3,156,192 $3,229,665
Guaranty book of business(11) . . . . . . $ 3,090,538 $3,039,457 $3,037,549 $3,054,488 $3,097,201
Credit quality:
Total TDRs on accrual status. . . . . . . . $ 141,227 $ 136,064 $ 108,797 $ 82,702 $ 9,880
Total nonaccrual loans(12) . . . . . . . . . . . 83,606 114,833 143,152 170,877 212,184
Total loss reserves . . . . . . . . . . . . . . . . 47,290 62,629 76,938 66,251 64,891
Total loss reserves as a percentage of
total guaranty book of business . . . . 1.53 % 2.06 % 2.53 % 2.17 % 2.10 %
Total loss reserves as a percentage of
total nonaccrual loans. . . . . . . . . . . . 56.56 54.54 53.75 38.77 30.58
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(1) Consists of net interest income and fee and other income.
(2) 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 retained mortgage portfolio during the reporting period and (b) Fannie Mae MBS purchased for our
retained mortgage portfolio during the reporting period.
(3) Reflects unpaid principal balance of mortgage loans and mortgage-related securities we purchased for our retained mortgage 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 sheets. For 2013, 2012, 2011 and
2010, includes unpaid principal balance of approximately $28 billion, $46 billion, $67 billion and $217 billion, respectively, of
delinquent loans purchased from our single-family MBS trusts. Under our MBS trust documents, we have the option to purchase from
MBS trusts loans that are delinquent as to four or more consecutive monthly payments.
(4) 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.
(5) Consists of (a) charge-offs, net of recoveries and (b) foreclosed property income (expense) for the reporting period (adjusted to exclude
the impact of fair value losses resulting from credit-impaired loans acquired from MBS trusts and HomeSaver Advance loans) divided
by the average guaranty book of business during the period, expressed in basis points. See “MD&A—Consolidated Results of
Operations—Credit-Related (Income) Expense—Credit Loss Performance Metrics” for a discussion of how our credit loss metrics are
calculated.
(6) Mortgage loans consist solely of domestic residential real-estate mortgages.
(7) Total assets less total liabilities.
(8) Reflects unpaid principal balance of mortgage loans and mortgage-related securities reported in our consolidated balance sheets. The
principal balance of resecuritized Fannie Mae MBS is included only once in the reported amount. As a result of our adoption of the
consolidation accounting guidance as of January 1, 2010, we reflect a substantial majority of our Fannie Mae MBS as mortgage assets
and the balance as unconsolidated Fannie Mae MBS.
(9) Reflects unpaid principal balance of unconsolidated Fannie Mae MBS, held by third-party investors. The principal balance of
resecuritized Fannie Mae MBS is included only once in the reported amount.
(10) Primarily includes long-term standby commitments we have issued and single-family and multifamily credit enhancements we have
provided that are not otherwise reflected in the table.
(11) Reflects mortgage credit book of business less non-Fannie Mae mortgage-related securities held in our retained mortgage portfolio for
which we do not provide a guaranty.
(12) We generally classify single-family loans as nonaccrual when the payment of principal or interest on the loan is 60 days or more past
due. Includes off-balance sheet loans in unconsolidated Fannie Mae MBS trusts that would meet our criteria for nonaccrual status if the
loans had been on-balance sheet.