Fannie Mae 2014 Annual Report Download - page 248

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
F-33
The following table displays the allowance for loan losses and recorded investment in our HFI loans, excluding loans for
which we have elected the fair value option, by impairment or reserve methodology and portfolio segment as of
December 31, 2014 and 2013.
As of December 31,
2014 2013
Single-
Family Multifamily Total Single- Family Multifamily Total
(Dollars in millions)
Allowance for loan losses by segment:
Individually impaired loans(1). . . . . . . . . . $ 31,200 $ 175 $ 31,375 $ 37,423 $ 306 $ 37,729
Collectively reserved loans . . . . . . . . . . . 3,977 189 4,166 5,884 233 6,117
Total allowance for loan losses . . . . . . $ 35,177 $ 364 $ 35,541 $ 43,307 $ 539 $ 43,846
Recorded investment in loans by segment:
Individually impaired loans(1). . . . . . . . . . $ 186,377 $ 1,809 $ 188,186 $ 189,064 $ 4,215 $ 193,279
Collectively reserved loans . . . . . . . . . . . 2,672,184 187,424 2,859,608 2,689,627 181,763 2,871,390
Total recorded investment in loans . . . $2,858,561 $189,233 $3,047,794 $2,878,691 $185,978 $3,064,669
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(1) Includes acquired credit-impaired loans.
5. Investments in Securities
Trading Securities
Trading securities are recorded at fair value with subsequent changes in fair value recorded as “Fair value (losses) gains, net”
in our consolidated statements of operations and comprehensive income. The following table displays our investments in
trading securities as of December 31, 2014 and 2013.
As of December 31,
2014 2013
(Dollars in millions)
Mortgage-related securities:
Fannie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,940 $ 5,870
Freddie Mac . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,369 1,839
Ginnie Mae . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166 407
Alt-A private-label securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 920 1,516
Subprime private-label securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,307 1,448
CMBS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,515 2,718
Mortgage revenue bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 722 565
Other mortgage-related securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99 99
Total mortgage-related securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,038 14,462
U.S. Treasury securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,466 16,306
Total trading securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 31,504 $ 30,768
The following table displays information about our net trading gains for the years ended December 31, 2014, 2013 and 2012.
For the Year Ended December 31,
2014 2013 2012
(Dollars in millions)
Net trading gains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 485 $ 260 $ 1,004
Net trading gains recorded in the period related to securities still held at period end . . . . . . . . 420 297 1,037