Fannie Mae 2014 Annual Report Download - page 75

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As of December 31,
2014 2013 2012 2011 2010
(Dollars in millions)
Book of business data:
Mortgage credit book of business(6). . . $ 3,091,102 $3,136,765 $3,116,842 $3,127,634 $3,156,192
Guaranty book of business(7) . . . . . . . . 3,056,219 3,090,538 3,039,457 3,037,549 3,054,488
Credit quality:
Total troubled debt restructurings on
accrual status . . . . . . . . . . . . . . . . . . $ 145,294 $ 141,227 $ 136,064 $ 108,797 $ 82,702
Total nonaccrual loans(8) . . . . . . . . . . . 64,959 83,606 114,833 143,152 170,877
Total loss reserves . . . . . . . . . . . . . . . . 38,173 47,290 62,629 76,938 66,251
Total loss reserves as a percentage of
total guaranty book of business . . . . 1.25 % 1.53 % 2.06 % 2.53 % 2.17 %
Total loss reserves as a percentage of
total nonaccrual loans. . . . . . . . . . . . 58.76 56.56 54.54 53.75 38.77
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(1) Consists of net interest income and fee and other income.
(2) New business purchases consist of single-family and multifamily whole mortgage loans purchased during the period and single-family
and multifamily mortgage loans underlying lender swaps issued during the period.
(3) 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.
(4) Consists of (a) charge-offs, net of recoveries and (b) foreclosed property expense (income) for the reporting period (adjusted to exclude
the impact of fair value losses resulting from credit-impaired loans acquired from MBS trusts) 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—
Credit Loss Performance Metrics” for a discussion of how our credit loss metrics are calculated.
(5) Mortgage loans consist solely of domestic residential real-estate mortgages.
(6) Refers to the sum of the unpaid principal balance of: (a) mortgage loans of Fannie Mae; (b) mortgage loans underlying Fannie Mae
MBS; (c) non-Fannie Mae mortgage-related securities held in our retained mortgage portfolio; and (d) other credit enhancements that
we provide on mortgage assets.
(7) 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.
(8) 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.