Federal Home Loan Mortgage (FMCC) 10-Q 3 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 20, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	FEDERAL HOME LOAN MORTGAGE CORP
Entity Central Index Key	1,026,214
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		650,046,828

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income
Mortgage loans	$ 15,818,000,000	$ 15,454,000,000
Investments in securities	969,000,000	1,335,000,000
Other	57,000,000	11,000,000
Total interest income	16,844,000,000	16,800,000,000
Interest expense	(13,388,000,000)	(13,088,000,000)
Expense related to derivatives	(51,000,000)	(65,000,000)
Net interest income	3,405,000,000	3,647,000,000
Benefit (provision) for credit losses	467,000,000	499,000,000
Net interest income after benefit (provision) for credit losses	3,872,000,000	4,146,000,000
Non-interest income (loss)
Gains (losses) on extinguishment of debt	(55,000,000)	(79,000,000)
Derivative gains (losses)	(4,561,000,000)	(2,403,000,000)
Impairment of available-for-sale securities:
Total other-than-temporary impairment of available-for-sale securities	(52,000,000)	(89,000,000)
Portion of other-than-temporary impairment recognized in AOCI	(5,000,000)	(4,000,000)
Net impairment of available-for-sale securities recognized in earnings	(57,000,000)	(93,000,000)
Other gains (losses) on investment securities recognized in earnings	303,000,000	417,000,000
Other income (loss)	947,000,000	11,000,000
Non-interest income (loss)	(3,423,000,000)	(2,147,000,000)
Non-interest expense
Salaries and employee benefits	(239,000,000)	(232,000,000)
Professional services	(101,000,000)	(113,000,000)
Occupancy expense	(13,000,000)	(12,000,000)
Other administrative expense	(95,000,000)	(94,000,000)
Total administrative expense	(448,000,000)	(451,000,000)
Real estate owned operations (expense) income	(84,000,000)	(75,000,000)
Temporary Payroll Tax Cut Continuation Act of 2011 expense	(272,000,000)	(222,000,000)
Other (expense) income	(153,000,000)	(463,000,000)
Non-interest expense	(957,000,000)	(1,211,000,000)
(Loss) income before income tax benefit (expense)	(508,000,000)	788,000,000
Income tax benefit (expense)	154,000,000	(264,000,000)
Net (loss) income	(354,000,000)	524,000,000
Other comprehensive income (loss), net of taxes and reclassification adjustments:
Changes in unrealized gains (losses) related to available-for-sale securities	119,000,000	157,000,000
Changes in unrealized gains (losses) related to cash flow hedge relationships	34,000,000	59,000,000
Changes in defined benefit plans	1,000,000	6,000,000
Total other comprehensive income (loss), net of taxes and reclassification adjustments	154,000,000	222,000,000
Comprehensive (loss) income	(200,000,000)	746,000,000
Net (loss) income	(354,000,000)	524,000,000
Undistributed net worth sweep and senior preferred stock dividends	0	(746,000,000)
Net loss attributable to common stockholders	$ (354,000,000)	$ (222,000,000)
Net loss per common share — basic and diluted	$ (0.11)	$ (0.07)
Weighted average common shares outstanding (in millions) — basic and diluted	3,234	3,236

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents (Note 12)	$ 6,158	$ 5,595
Restricted cash and cash equivalents (Notes 3, 12)	16,671	14,533
Securities purchased under agreements to resell (Notes 3, 8)	40,098	63,644
Investments in securities, at fair value (Note 5)	107,595	114,215
Mortgage loans held-for-sale (Notes 3, 4) (includes $22,415 and $17,660 at fair value)	27,085	24,992
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $14,521 and $15,331)	1,735,548	1,729,201
Accrued interest receivable (Note 3)	6,091	6,074
Derivative assets, net (Notes 7, 8)	814	395
Real estate owned, net (Note 3)	1,571	1,725
Deferred tax assets, net (Note 10)	18,123	18,205
Other assets (Notes 3, 16)	9,346	7,313
Total assets	1,969,100	1,985,892
Liabilities
Accrued interest payable (Note 3)	6,047	6,183
Debt, net (Notes 3, 6) (includes $6,915 and $7,184 at fair value)	1,955,618	1,970,269
Derivative liabilities, net (Notes 7, 8)	1,632	1,254
Other liabilities (Notes 3, 16)	4,803	5,246
Total liabilities	$ 1,968,100	$ 1,982,952
Commitments and contingencies (Notes 3, 7, and 14)
Equity (Note 9)
Senior preferred stock, at redemption value	$ 72,336	$ 72,336
Preferred stock, at redemption value	14,109	14,109
Common stock, $0.00 par value, 4,000,000,000 shares authorized, 725,863,886 shares issued and 650,046,828 shares and 650,045,962 shares outstanding	0	0
Additional paid-in capital	0	0
Retained earnings (accumulated deficit)	(82,867)	(80,773)
AOCI, net of taxes, related to:
Available-for-sale securities (includes $578 and $778, related to net unrealized gains on securities for which other-than-temporary impairment has been recognized in earnings)	1,859	1,740
Cash flow hedge relationships	(587)	(621)
Defined benefit plans	35	34
Total AOCI, net of taxes	1,307	1,153
Treasury stock, at cost, 75,817,058 shares and 75,817,924 shares	(3,885)	(3,885)
Total equity (See Note 9 for information on our dividend obligation to Treasury)	1,000	2,940
Total liabilities and equity	1,969,100	1,985,892
Consolidated Balance Sheet Line Item
Mortgage loans held-for-sale (Notes 3, 4) (includes $22,415 and $17,660 at fair value)	27,085	24,992
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $14,521 and $15,331)	1,735,548	1,729,201
Total assets	1,969,100	1,985,892
Debt, net (Notes 3, 6) (includes $6,915 and $7,184 at fair value)	1,955,618	1,970,269
Total liabilities	1,968,100	1,982,952
Held by consolidated trusts
Assets
Restricted cash and cash equivalents (Notes 3, 12)	16,316	14,529
Securities purchased under agreements to resell (Notes 3, 8)	17,350	14,840
Mortgage loans held-for-sale (Notes 3, 4) (includes $22,415 and $17,660 at fair value)	277	1,403
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $14,521 and $15,331)	1,635,242	1,625,184
Accrued interest receivable (Note 3)	5,373	5,305
Real estate owned, net (Note 3)	37	40
Other assets (Notes 3, 16)	3,743	2,591
Total assets	1,678,338	1,663,892
Liabilities
Accrued interest payable (Note 3)	4,760	4,763
Debt, net (Notes 3, 6) (includes $6,915 and $7,184 at fair value)	1,568,183	1,556,121
Other liabilities (Notes 3, 16)	1	6
Total liabilities	1,572,944	1,560,890
Consolidated Balance Sheet Line Item
Mortgage loans held-for-sale (Notes 3, 4) (includes $22,415 and $17,660 at fair value)	277	1,403
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $14,521 and $15,331)	1,635,242	1,625,184
All other assets	42,819	37,305
Total assets	1,678,338	1,663,892
Debt, net (Notes 3, 6) (includes $6,915 and $7,184 at fair value)	1,568,183	1,556,121
All other liabilities	4,761	4,769
Total liabilities	$ 1,572,944	$ 1,560,890

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Mortgages Held-for-sale, Fair Value Disclosure	$ 22,415	$ 17,660
Allowance for loan losses	14,521	15,331
Debt securities recorded at fair value	$ 6,915	$ 7,184
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	4,000,000,000	4,000,000,000
Common Stock, Shares, Issued	725,863,886	725,863,886
Common Stock, Shares, Outstanding	650,046,828	650,045,962
Available for sale securities other-than-temporary impairment adjustment, related to net unrealized gains(losses) on securities for which other-than-temporary impairment has been recognized in earnings	$ 578	$ 778
Treasury Stock, Shares	75,817,058	75,817,924

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net cash used in operating activities	$ (4,086)	$ (3,507)
Cash flows from investing activities
Purchases of trading securities	(8,104)	(13,898)
Proceeds from sales of trading securities	3,234	2,863
Proceeds from maturities of trading securities	7,692	4,414
Purchases of available-for-sale securities	(3,009)	(2,161)
Proceeds from sales of available-for-sale securities	2,404	4,134
Proceeds from maturities of available-for-sale securities	4,808	4,893
Purchases of held-for-investment mortgage loans	(28,577)	(27,353)
Proceeds from sales of mortgage loans held-for-investment	832	406
Repayments of mortgage loans held-for-investment	64,343	74,167
(Increase) decrease in restricted cash	(2,138)	(154)
Net proceeds from dispositions of real estate owned and other recoveries	665	1,121
Net (increase) decrease in securities purchased under agreements to resell	23,546	4,737
Derivative premiums and terminations and swap collateral, net	(4,094)	(1,481)
Changes in other assets	(3,652)	(1,076)
Net cash provided by investing activities	57,950	50,612
Cash flows from financing activities
Payment of cash dividends on senior preferred stock	(1,740)	(851)
Changes in other liabilities	(1)	0
Net cash used in financing activities	(53,301)	(47,626)
Net (decrease) increase in cash and cash equivalents	563	(521)
Cash and cash equivalents at beginning of year	5,595	10,928
Cash and cash equivalents at end of period	6,158	10,407
Cash paid for:
Debt interest	15,438	15,304
Income taxes	573	458
Held by Freddie Mac
Cash flows from financing activities
Proceeds from issuance of debt	145,003	103,119
Repayments of debt	(171,791)	(106,416)
Held by consolidated trusts
Cash flows from financing activities
Proceeds from issuance of debt	40,722	30,122
Repayments of debt	$ (65,494)	$ (73,600)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Freddie Mac is a GSE chartered by Congress in 1970. Our public mission is to provide liquidity, stability, and affordability to the U.S. housing market. We are regulated by FHFA, the SEC, HUD, and Treasury, and are currently operating under the conservatorship of FHFA. For more information on the roles of FHFA and Treasury, see Note 2 in this Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31, 2015, or 2015 Annual Report. Throughout our unaudited condensed consolidated financial statements and related notes, we use certain acronyms and terms which are defined in the “GLOSSARY” of our 2015 Annual Report. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our 2015 Annual Report. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and include our accounts as well as the accounts of other entities in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated. We are operating under the basis that we will realize assets and satisfy liabilities in the normal course of business as a going concern and in accordance with the delegation of authority from FHFA to our Board of Directors and management. Certain amounts in prior periods’ consolidated financial statements have been reclassified to conform to the current presentation. In the opinion of management, all adjustments, which include only normal recurring adjustments, have been recorded for a fair presentation of our unaudited condensed consolidated financial statements. We evaluate the materiality of identified errors in the financial statements using both an income statement, or “rollover,” and a balance sheet, or “iron curtain,” approach, based on relevant quantitative and qualitative factors. Net income includes certain adjustments to correct immaterial errors related to previously reported periods. USE OF ESTIMATES The preparation of financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses, gains, and losses during the reporting period. Management has made significant estimates in preparing the financial statements for establishing the allowance for loan losses and reserve for guarantee losses, and valuing financial instruments and other assets and liabilities. Actual results could be different from these estimates. RECENTLY ISSUED ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Consolidated Financial Statements ASU 2015-02, Amendments to the Consolidation Analysis (Topic 810) The amendment affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. January 1, 2016 The adoption of this amendment did not have a material effect on our consolidated financial statements. ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) The amendment requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. January 1, 2016 Previously reported amounts have been conformed to the current presentation (see Notes 6 and 16). The effect of adoption as of January 1, 2016 and December 31, 2015 was a reduction to Other Assets and Debt, net of $158 million. There were no effects on earnings resulting from this change. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Adoption Effect on Consolidated Financial Statements ASU 2016-06, Derivatives and Hedging (Topic 815) The amendment clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amendment is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. January 1, 2017 We do not expect that the adoption of this amendment will have a material effect on our consolidated financial statements. ASU 2016-02, Leases (Topic 842) The amendment addresses the accounting for lease arrangements. January 1, 2019 We do not expect that the adoption of this amendment will have a material effect on our consolidated financial statements.

Conservatorship and Related Mat

Conservatorship and Related Matters	3 Months Ended
	Mar. 31, 2016
Conservatorship and Related Matters [Abstract]
CONSERVATORSHIP AND RELATED MATTERS	CONSERVATORSHIP AND RELATED MATTERS BUSINESS OBJECTIVES We operate under the conservatorship that commenced on September 6, 2008, conducting our business under the direction of FHFA, as our Conservator. The conservatorship and related matters significantly affect our management, business activities, financial condition and results of operations. Upon its appointment, FHFA, as Conservator, immediately succeeded to all rights, titles, powers and privileges of Freddie Mac, and of any stockholder, officer or director thereof, with respect to the company and its assets. The Conservator also succeeded to the title to all books, records, and assets of Freddie Mac held by any other legal custodian or third party. The Conservator delegated certain authority to the Board of Directors to oversee, and management to conduct, business operations so that the company can continue to operate in the ordinary course. The directors serve on behalf of, and exercise authority as directed by, the Conservator. We are also subject to certain constraints on our business activities under the Purchase Agreement. However, we believe that the support provided by Treasury pursuant to the Purchase Agreement currently enables us to maintain our access to the debt markets and to have adequate liquidity to conduct our normal business activities, although the costs of our debt funding could vary. Our ability to access funds from Treasury under the Purchase Agreement is critical to keeping us solvent. IMPACT OF CONSERVATORSHIP AND RELATED DEVELOPMENTS ON THE MORTGAGE-RELATED INVESTMENTS PORTFOLIO For purposes of the limit imposed by the Purchase Agreement and FHFA regulation, the UPB of our mortgage-related investments portfolio cannot exceed $339.3 billion at December 31, 2016 and was $339.9 billion at March 31, 2016 . Our Retained Portfolio Plan provides for us to manage the UPB of the mortgage-related investments portfolio so that it does not exceed 90% of the annual cap established by the Purchase Agreement (subject to certain exceptions). Our mortgage-related investments portfolio cap is reduced by 15% annually until it reaches $250 billion . This amount is calculated based on the maximum allowable size of the mortgage-related investments portfolio, rather than the actual UPB of the mortgage-related investments portfolio, as of December 31 of the preceding year. Our ability to acquire and sell mortgage assets is significantly constrained by limitations of the Purchase Agreement and those imposed by FHFA. GOVERNMENT SUPPORT FOR OUR BUSINESS We receive substantial support from Treasury and are dependent upon its continued support in order to continue operating our business. Our ability to access funds from Treasury under the Purchase Agreement, is critical to: • Keeping us solvent; • Allowing us to focus on our primary business objectives under conservatorship; and • Avoiding the appointment of a receiver by FHFA under statutory mandatory receivership provisions. At December 31, 2015, our assets exceeded our liabilities under GAAP; therefore FHFA did not request a draw on our behalf and, as a result, we did not receive any funding from Treasury under the Purchase Agreement during the three months ended March 31, 2016 . Since conservatorship began through March 31, 2016 , we have paid cash dividends of $98.2 billion to Treasury at the direction of the Conservator. See Note 6 and Note 9 for more information on the conservatorship and the Purchase Agreement. RELATED PARTIES AS A RESULT OF CONSERVATORSHIP We are deemed related parties with Fannie Mae as both we and Fannie Mae have the same relationships with FHFA and Treasury. Common Securitization Solutions, LLC (CSS), was formed in 2013 as a limited liability company equally-owned by Freddie Mac and Fannie Mae. Therefore, CSS is also deemed a related party. During the three months ended March 31, 2016, we contributed $30 million of capital to CSS.

Securitization and Guarantee Ac

Securitization and Guarantee Activities	3 Months Ended
	Mar. 31, 2016
Securitization And Guarantee Activities [Abstract]
VARIABLE INTEREST ENTITIES	SECURITIZATION AND GUARANTEE ACTIVITIES Our primary business activities in our Single-family Guarantee and Multifamily segments involve the securitization of loans or other mortgage-related assets using trusts that are VIEs. These trusts issue beneficial interests in the loans or other mortgage-related assets that they own. We guarantee the principal and interest payments on some or all of the issued beneficial interests in substantially all of our securitization transactions. We consolidate VIEs when we have a controlling financial interest in the VIE and are therefore considered the primary beneficiary of the VIE. VIEs FOR WHICH WE ARE THE PRIMARY BENEFICIARY The table below represents the carrying value and classification of the assets and liabilities of consolidated VIEs on our consolidated balance sheets. (in millions) March 31, 2016 December 31, 2015 Consolidated Balance Sheet Line Item Assets: Restricted cash and cash equivalents $ 16,316 $ 14,529 Securities purchased under agreements to resell 17,350 14,840 Mortgage loans held-for-sale 277 1,403 Mortgage loans held-for-investment 1,635,242 1,625,184 Accrued interest receivable 5,373 5,305 Real estate owned, net 37 40 Other assets 3,743 2,591 Total assets of consolidated VIEs $ 1,678,338 $ 1,663,892 Liabilities: Accrued interest payable $ 4,760 $ 4,763 Debt, net 1,568,183 1,556,121 Other liabilities 1 6 Total liabilities of consolidated VIEs $ 1,572,944 $ 1,560,890 VIEs FOR WHICH WE ARE NOT THE PRIMARY BENEFICIARY Our involvement with VIEs for which we are not the primary beneficiary takes one or both of two forms - purchasing an investment in these entities or providing a guarantee to these entities. The following table presents the carrying amounts and classification of the assets and liabilities recorded on our consolidated balance sheets related to our variable interests in unconsolidated VIEs with which we were involved in the design and creation and have a significant continuing involvement, as well as our maximum exposure to loss. March 31, 2016 December 31, 2015 (in millions) Freddie Mac Securities Assets and Liabilities Recorded on our Consolidated Balance Sheets Assets: Investments in securities $ 49,046 $ 49,040 Accrued interest receivable 211 200 Other assets 1,371 1,232 Liabilities: Other liabilities (1,283 ) (1,230 ) Maximum Exposure to Loss $ 122,474 $ 114,193 Total Assets of Non-Consolidated VIEs $ 144,497 $ 134,900 We also obtain interests in various other VIEs created by third parties through the normal course of business, such as through our investments in non-Freddie Mac mortgage-related securities, purchases of multifamily loans, guarantees of multifamily housing revenue bonds, as a derivative counterparty, or through other activities. FINANCIAL GUARANTEES The table below shows our maximum potential exposure, recognized liability, and maximum remaining term of our recognized financial guarantees to unconsolidated VIEs and other third parties. This table does not include our unrecognized financial guarantees, such as guarantees to consolidated VIEs or to resecuritization trusts that do not expose us to incremental credit risk. March 31, 2016 December 31, 2015 (dollars in millions, terms in years) Maximum Recognized (1) Maximum Remaining Term Maximum Recognized (1) Maximum Remaining Term K Certificates and other securitization products $ 122,474 $ 1,195 39 $ 114,193 $ 1,136 40 Other mortgage-related guarantees 13,784 616 35 13,067 596 38 Derivative instruments 17,729 178 29 17,894 151 30 (1) This amount excludes our reserve for guarantee losses, which totaled $74 million and $76 million as of March 31, 2016 and December 31, 2015 , respectively, and is included within other liabilities on our consolidated balance sheets. CREDIT ENHANCEMENTS For many of the loans underlying our single-family PCs, other securitization products, and other mortgage-related guarantees, we obtained credit enhancements from third parties covering a portion of our credit risk exposure. See Note 4 for information about credit enhancements on loans. In connection with the securitization activities of the Multifamily segment, we have various forms of credit protection. The most prevalent type is subordination, primarily through our K Certificates. Through subordination, we mitigate our credit risk exposure by structuring our securities to sell the vast majority of expected credit losses to private investors who purchase the subordinate tranches, as shown in the table below. UPB at Maximum Coverage at (in millions) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 K Certificates $ 109,109 $ 101,473 $ 19,696 $ 18,453 Other securitization products 7,835 7,026 1,632 1,477 Total $ 116,944 $ 108,499 $ 21,328 $ 19,930
FINANCIAL GUARANTEES	SECURITIZATION AND GUARANTEE ACTIVITIES Our primary business activities in our Single-family Guarantee and Multifamily segments involve the securitization of loans or other mortgage-related assets using trusts that are VIEs. These trusts issue beneficial interests in the loans or other mortgage-related assets that they own. We guarantee the principal and interest payments on some or all of the issued beneficial interests in substantially all of our securitization transactions. We consolidate VIEs when we have a controlling financial interest in the VIE and are therefore considered the primary beneficiary of the VIE. VIEs FOR WHICH WE ARE THE PRIMARY BENEFICIARY The table below represents the carrying value and classification of the assets and liabilities of consolidated VIEs on our consolidated balance sheets. (in millions) March 31, 2016 December 31, 2015 Consolidated Balance Sheet Line Item Assets: Restricted cash and cash equivalents $ 16,316 $ 14,529 Securities purchased under agreements to resell 17,350 14,840 Mortgage loans held-for-sale 277 1,403 Mortgage loans held-for-investment 1,635,242 1,625,184 Accrued interest receivable 5,373 5,305 Real estate owned, net 37 40 Other assets 3,743 2,591 Total assets of consolidated VIEs $ 1,678,338 $ 1,663,892 Liabilities: Accrued interest payable $ 4,760 $ 4,763 Debt, net 1,568,183 1,556,121 Other liabilities 1 6 Total liabilities of consolidated VIEs $ 1,572,944 $ 1,560,890 VIEs FOR WHICH WE ARE NOT THE PRIMARY BENEFICIARY Our involvement with VIEs for which we are not the primary beneficiary takes one or both of two forms - purchasing an investment in these entities or providing a guarantee to these entities. The following table presents the carrying amounts and classification of the assets and liabilities recorded on our consolidated balance sheets related to our variable interests in unconsolidated VIEs with which we were involved in the design and creation and have a significant continuing involvement, as well as our maximum exposure to loss. March 31, 2016 December 31, 2015 (in millions) Freddie Mac Securities Assets and Liabilities Recorded on our Consolidated Balance Sheets Assets: Investments in securities $ 49,046 $ 49,040 Accrued interest receivable 211 200 Other assets 1,371 1,232 Liabilities: Other liabilities (1,283 ) (1,230 ) Maximum Exposure to Loss $ 122,474 $ 114,193 Total Assets of Non-Consolidated VIEs $ 144,497 $ 134,900 We also obtain interests in various other VIEs created by third parties through the normal course of business, such as through our investments in non-Freddie Mac mortgage-related securities, purchases of multifamily loans, guarantees of multifamily housing revenue bonds, as a derivative counterparty, or through other activities. FINANCIAL GUARANTEES The table below shows our maximum potential exposure, recognized liability, and maximum remaining term of our recognized financial guarantees to unconsolidated VIEs and other third parties. This table does not include our unrecognized financial guarantees, such as guarantees to consolidated VIEs or to resecuritization trusts that do not expose us to incremental credit risk. March 31, 2016 December 31, 2015 (dollars in millions, terms in years) Maximum Recognized (1) Maximum Remaining Term Maximum Recognized (1) Maximum Remaining Term K Certificates and other securitization products $ 122,474 $ 1,195 39 $ 114,193 $ 1,136 40 Other mortgage-related guarantees 13,784 616 35 13,067 596 38 Derivative instruments 17,729 178 29 17,894 151 30 (1) This amount excludes our reserve for guarantee losses, which totaled $74 million and $76 million as of March 31, 2016 and December 31, 2015 , respectively, and is included within other liabilities on our consolidated balance sheets. CREDIT ENHANCEMENTS For many of the loans underlying our single-family PCs, other securitization products, and other mortgage-related guarantees, we obtained credit enhancements from third parties covering a portion of our credit risk exposure. See Note 4 for information about credit enhancements on loans. In connection with the securitization activities of the Multifamily segment, we have various forms of credit protection. The most prevalent type is subordination, primarily through our K Certificates. Through subordination, we mitigate our credit risk exposure by structuring our securities to sell the vast majority of expected credit losses to private investors who purchase the subordinate tranches, as shown in the table below. UPB at Maximum Coverage at (in millions) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 K Certificates $ 109,109 $ 101,473 $ 19,696 $ 18,453 Other securitization products 7,835 7,026 1,632 1,477 Total $ 116,944 $ 108,499 $ 21,328 $ 19,930

Mortgage Loans and Loan Loss Re

Mortgage Loans and Loan Loss Reserves	3 Months Ended
	Mar. 31, 2016
Mortgage Loans on Real Estate [Abstract]
MORTGAGE LOANS AND LOAN LOSS RESERVES	MORTGAGE LOANS AND LOAN LOSS RESERVES The table below provides details of the loans on our consolidated balance sheets. March 31, 2016 December 31, 2015 (in millions) Held by Freddie Mac Held by Total Held by Freddie Mac Held by Total Held-for sale: Single-family $ 4,343 $ 381 $ 4,724 $ 6,045 $ 1,702 $ 7,747 Multifamily 23,564 — 23,564 19,582 — 19,582 Total UPB 27,907 381 28,288 25,627 1,702 27,329 Cost basis and fair value adjustments, net (1,099 ) (104 ) (1,203 ) (2,038 ) (299 ) (2,337 ) Total held-for-sale loans 26,808 277 27,085 23,589 1,403 24,992 Held-for-investment: Single-family 87,527 1,607,282 1,694,809 90,532 1,597,590 1,688,122 Multifamily 27,818 1,690 29,508 29,505 1,711 31,216 Total UPB 115,345 1,608,972 1,724,317 120,037 1,599,301 1,719,338 Cost basis adjustments (3,338 ) 29,090 25,752 (3,465 ) 28,659 25,194 Allowance for loan losses (11,701 ) (2,820 ) (14,521 ) (12,555 ) (2,776 ) (15,331 ) Total held-for-investment loans 100,306 1,635,242 1,735,548 104,017 1,625,184 1,729,201 Total loans, net $ 127,114 $ 1,635,519 $ 1,762,633 $ 127,606 $ 1,626,587 $ 1,754,193 During the three months ended March 31, 2016 and March 31, 2015 , we purchased $68.2 billion and $79.2 billion , respectively, in UPB of single-family loans and $0.8 billion in UPB of multifamily loans during both periods that were classified as held-for-investment. Our sales of multifamily loans occur primarily through the issuance of multifamily K Certificates. During the three months ended March 31, 2016 and March 31, 2015 , we sold $10.8 billion and $5.1 billion , respectively, of held-for-sale multifamily loans. See Note 3 for more information on our issuances of K Certificates. As part of our strategy to mitigate losses and reduce our holdings of less liquid assets, we completed sales of $0.8 billion and $0.3 billion in UPB of seriously delinquent single-family loans during the three months ended March 31, 2016 and March 31, 2015, respectively. We reclassified $0.4 billion and $3.6 billion in UPB of seriously delinquent single-family loans from held-for-investment to held-for-sale during the three months ended March 31, 2016 and March 31, 2015 , respectively. For additional information regarding the fair value of our loans classified as held-for-sale, see Note 13. CREDIT QUALITY The current LTV ratio is one key factor we consider when estimating our loan loss reserves for single-family loans. As current LTV ratios increase, the borrower’s equity in the home decreases, which negatively affects the borrower’s ability to refinance (outside of HARP) or to sell the property for an amount at or above the balance of the outstanding loan. A second-lien loan also reduces the borrower’s equity in the home, and has a similar negative effect on the borrower’s ability to refinance or sell the property for an amount at or above the combined balances of the first and second loans. As of March 31, 2016 and December 31, 2015, based on data collected by us at loan delivery, approximately 12% and 13% , respectively, of loans in our single-family credit guarantee portfolio had second-lien financing by third parties at origination of the first loan. However, borrowers are free to obtain second-lien financing after origination, and we are not entitled to receive notification when a borrower does so. For further information about concentrations of risk associated with our single-family and multifamily loans, see Note 12. For reporting purposes: • Loans within the Alt-A category continue to be presented in that category following modification, even though the borrower may have provided full documentation of assets and income to complete the modification; and • Loans within the option ARM category continue to be presented in that category following modification, even though the modified loan no longer provides for optional payment provisions. The table below presents the recorded investment of single-family held-for-investment loans by current LTV ratios. Our current LTV ratios are estimates based on available data through the end of each respective period presented. March 31, 2016 December 31, 2015 Current LTV Ratio Current LTV Ratio (in millions) ≤ 80 > 80 to 100 > 100 (1) Total ≤ 80 > 80 to 100 > 100 (1) Total 20 and 30-year or more, amortizing fixed-rate (2) $ 1,045,142 $ 234,710 $ 45,701 $ 1,325,553 $ 1,020,227 $ 242,948 $ 50,893 $ 1,314,068 15-year amortizing fixed-rate (2) 271,010 11,380 1,499 283,889 271,456 12,400 1,754 285,610 Adjustable-rate 58,696 4,498 190 63,384 59,724 5,055 249 65,028 Alt-A, interest-only, and option ARM 27,742 12,469 7,539 47,750 27,014 13,124 8,485 48,623 Total single-family loans $ 1,402,590 $ 263,057 $ 54,929 $ 1,720,576 $ 1,378,421 $ 273,527 $ 61,381 $ 1,713,329 (1) The serious delinquency rate for the total of single-family held-for-investment mortgage loans with current LTV ratios in excess of 100% was 6.01% and 6.03% as of March 31, 2016 and December 31, 2015, respectively. (2) The majority of our loan modifications result in new terms that include fixed interest rates after modification. As of March 31, 2016 and December 31, 2015, we have categorized UPB of approximately $37.2 billion and $38.3 billion , respectively, of modified loans as fixed-rate loans (instead of as adjustable rate loans), even though the modified loans have rate adjustment provisions. In these cases, while the terms of the modified loans provide for the interest rate to adjust, such rates and the timing of adjustment are determined at the time of modification rather than at a subsequent date. The following table presents the recorded investment in our multifamily held-for-investment loans, by credit quality indicator based on available data through the end of each period presented. These indicators involve significant management judgment. (in millions) March 31, 2016 December 31, 2015 Credit risk profile by internally assigned grade: (1) Pass $ 28,233 $ 29,660 Special mention 879 1,135 Substandard 381 408 Doubtful — — Total $ 29,493 $ 31,203 (1) A loan categorized as: "Pass" is current and adequately protected by the current financial strength and debt service capacity of the borrower; "Special mention" has signs of potential financial weakness; "Substandard" has a weakness that jeopardizes the timely full repayment; and "Doubtful" has a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions. MORTGAGE LOAN PERFORMANCE The following table presents the recorded investment of our single-family and multifamily loans, held-for-investment, by payment status. March 31, 2016 (in millions) Current One Month Past Due Two Months Past Due Three Months or More Past Due, or in Foreclosure (1) Total Non-accrual Single-family: 20 and 30-year or more, amortizing fixed-rate $ 1,295,280 $ 13,937 $ 4,269 $ 12,067 $ 1,325,553 $ 12,065 15-year amortizing fixed-rate 282,599 788 160 342 283,889 342 Adjustable-rate 62,757 312 83 232 63,384 232 Alt-A, interest-only, and option ARM 42,932 1,796 631 2,391 47,750 2,390 Total single-family 1,683,568 16,833 5,143 15,032 1,720,576 15,029 Total multifamily 29,493 — — — 29,493 120 Total single-family and multifamily $ 1,713,061 $ 16,833 $ 5,143 $ 15,032 $ 1,750,069 $ 15,149 December 31, 2015 (in millions) Current One Month Past Due Two Months Past Due Three (1) Total Non-accrual Single-family: 20 and 30-year or more, amortizing fixed-rate $ 1,280,247 $ 16,178 $ 5,037 $ 12,606 $ 1,314,068 $ 12,603 15-year amortizing fixed-rate 284,137 935 183 355 285,610 355 Adjustable-rate 64,326 359 88 255 65,028 255 Alt-A, interest-only, and option ARM 43,543 1,962 714 2,404 48,623 2,403 Total single-family 1,672,253 19,434 6,022 15,620 1,713,329 15,616 Total multifamily 31,203 — — — 31,203 170 Total single-family and multifamily $ 1,703,456 $ 19,434 $ 6,022 $ 15,620 $ 1,744,532 $ 15,786 (1) Includes $7.0 billion of loans that were in the process of foreclosure as of both March 31, 2016 and December 31, 2015. The table below summarizes the delinquency rates of loans within our single-family credit guarantee and multifamily mortgage portfolios. (dollars in millions) March 31, 2016 December 31, 2015 Single-family: (1) Non-credit-enhanced portfolio Serious delinquency rate 1.20 % 1.30 % Total number of seriously delinquent loans 95,941 105,071 Credit-enhanced portfolio: (2) Primary mortgage insurance: Serious delinquency rate 1.78 % 2.06 % Total number of seriously delinquent loans 24,290 27,813 Other credit protection: (3) Serious delinquency rate 0.49 % 0.58 % Total number of seriously delinquent loans 8,888 9,422 Total single-family: Serious delinquency rate 1.20 % 1.32 % Total number of seriously delinquent loans 128,044 141,255 Multifamily: (4) Non-credit-enhanced portfolio: Delinquency rate 0.03 % 0.03 % UPB of delinquent loans $ 19 $ 19 Credit-enhanced portfolio: Delinquency rate 0.04 % 0.02 % UPB of delinquent loans $ 48 $ 20 Total Multifamily: Delinquency rate 0.04 % 0.02 % UPB of delinquent loans $ 67 $ 39 (1) Serious delinquencies on single-family loans underlying certain REMICs, other securitization products, and other mortgage-related guarantees may be reported on a different schedule due to variances in industry practice. (2) The credit enhanced categories are not mutually exclusive as a single loan may be covered by both primary mortgage insurance and other credit protection. (3) Consists of single-family loans covered by financial arrangements (other than primary mortgage insurance) that are designed to reduce our credit risk exposure. See "Credit Protection and Other Forms of Credit Enhancement" for more information. (4) Multifamily delinquency performance is based on UPB of loans that are two monthly payments or more past due or those in the process of foreclosure. LOAN LOSS RESERVES The loan loss reserves represent estimates of probable incurred credit losses. We recognize probable incurred losses by recording a charge to the provision for credit losses in our consolidated statements of comprehensive income. The loan loss reserves include: • Our allowance for loan losses, which pertains to all single-family and multifamily loans classified as held-for-investment on our consolidated balance sheets; and • Our reserve for guarantee losses, which pertains to single-family and multifamily loans underlying our K Certificates, other securitization products, and other mortgage-related guarantees. The table below presents our loan loss reserves activity. Three Months Ended March 31, 2016 2015 Allowance for Loan Losses Reserve for Allowance for Loan Losses Reserve for (in millions) Held by Freddie Mac Held By Total Held by Freddie Mac Held By Total Single-family: Beginning balance $ 12,516 $ 2,775 $ 57 $ 15,348 $ 18,800 $ 2,884 $ 109 $ 21,793 Provision (benefit) for credit losses (435 ) (29 ) 2 (462 ) (469 ) (25 ) (2 ) (496 ) Charge-offs (499 ) (68 ) (2 ) (569 ) (2,781 ) (168 ) (2 ) (2,951 ) Recoveries 126 2 — 128 169 5 — 174 Transfers, net (1) (41 ) 139 — 98 301 (142 ) — 159 Ending balance $ 11,667 $ 2,819 $ 57 $ 14,543 $ 16,020 $ 2,554 $ 105 $ 18,679 Multifamily ending balance $ 34 $ 1 $ 17 $ 52 $ 74 $ — $ 17 $ 91 Total ending balance $ 11,701 $ 2,820 $ 74 $ 14,595 $ 16,094 $ 2,554 $ 122 $ 18,770 (1) Consists of approximately $0.1 billion during both the three months ended March 31, 2016 and March 31, 2015 attributable to capitalization of past due interest on modified loans. Also includes amounts associated with reclassified single-family reserves related to our removal of loans previously held by consolidated trusts, net of reclassifications for single-family loans subsequently resecuritized after such removal. The allowance for loan losses associated with our held-for-investment unsecuritized loans represented approximately 10.4% and 10.8% of the recorded investment in such loans at March 31, 2016 and December 31, 2015, respectively, and a substantial portion of the allowance associated with these loans represented interest rate concessions provided to borrowers as part of loan modifications. The allowance for loan losses associated with loans held by our consolidated trusts represented approximately 0.2% of the recorded investment in such loans as of both March 31, 2016 and December 31, 2015. The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs during the three months ended March 31, 2016 and March 31, 2015 , based on the original category of the loan before the loan was classified as a TDR. Loans classified as a TDR in one period may be subject to further action (such as a modification or remodification) in a subsequent period. In such cases, the subsequent action would not be reflected in the table below since the loan would already have been classified as a TDR. Three Months Ended March 31, 2016 2015 (dollars in millions) Number of Loans Post-TDR Recorded Investment Number of Loans Post-TDR Recorded Investment Single-family: (1) 20 and 30-year or more, amortizing fixed-rate 10,332 $ 1,456 13,293 $ 1,919 15-year amortizing fixed-rate 1,318 94 1,652 123 Adjustable-rate 274 40 405 57 Alt-A, interest-only, and option ARM 919 169 1,388 269 Total single-family 12,843 1,759 16,738 2,368 Multifamily 2 8 — — Total 12,845 $ 1,767 16,738 $ 2,368 (1) The pre-TDR recorded investment for single-family loans initially classified as TDR during the three months ended March 31, 2016 and March 31, 2015 was $1.8 billion and $2.4 billion , respectively. The table below presents the volume of our TDR modifications that experienced payment defaults (i.e., loans that became two months delinquent or completed a loss event) during the applicable periods and had completed a modification during the year preceding the payment default. The table presents loans based on their original product category before modification. Three Months Ended March 31, 2016 2015 (dollars in millions) Number of Loans Post-TDR Recorded Investment Number of Loans Post-TDR Recorded Investment Single-family: 20 and 30-year or more, amortizing fixed-rate 3,992 $ 634 4,307 $ 754 15-year amortizing fixed-rate 233 18 206 18 Adjustable-rate 73 11 68 12 Alt-A, interest-only, and option ARM 459 98 514 122 Total single-family 4,757 $ 761 5,095 $ 906 Multifamily — $ — — $ — In addition to modifications, loans may be initially classified as TDRs as a result of other loss mitigation activities (i.e., repayment plans, forbearance agreements, or trial period modifications). During the three months ended March 31, 2016 and March 31, 2015 , 2,216 and 2,488 , respectively, of such loans (with a post-TDR recorded investment of $259 million and $346 million , respectively) experienced a payment default within a year after the loss mitigation activity occurred. Loans may also be initially classified as TDRs because the borrowers’ debts were discharged in Chapter 7 bankruptcy (and the loan was not already classified as a TDR for other reasons). During the three months ended March 31, 2016 and March 31, 2015 , 336 and 695 , respectively, of such loans (with a post-TDR recorded investment of $40 million and $94 million , respectively) experienced a payment default within a year after the borrowers' Chapter 7 bankruptcy. Single-Family TDRs During the three months ended March 31, 2016 , approximately 41% of completed single-family loan modifications that were classified as TDRs involved interest rate reductions and, in certain cases, term extensions and approximately 16% involved principal forbearance in addition to interest rate reductions and, in certain cases, term extensions. During the three months ended March 31, 2016 , the average term extension was 181 months, and the average interest rate reduction was 0.8% on completed single-family loan modifications classified as TDRs. Impaired Loans The tables below present the UPB, recorded investment, related allowance for loan losses, average recorded investment and interest income recognized for individually impaired loans. March 31, 2016 December 31, 2015 (in millions) UPB Recorded Investment Associated Allowance UPB Recorded Investment Associated Single-family — With no specific allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $ 5,324 $ 4,000 N/A $ 4,957 $ 3,724 N/A 15-year amortizing fixed-rate 42 35 N/A 45 38 N/A Adjustable-rate 223 220 N/A 194 191 N/A Alt-A, interest-only, and option ARM 1,574 1,213 N/A 1,370 1,033 N/A Total with no specific allowance recorded 7,163 5,468 N/A 6,566 4,986 N/A With specific allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 72,302 70,708 $ (10,667 ) 72,886 71,215 $ (11,245 ) 15-year amortizing fixed-rate 957 961 (23 ) 975 978 (21 ) Adjustable-rate 478 470 (27 ) 518 510 (28 ) Alt-A, interest-only, and option ARM 14,390 13,755 (2,598 ) 14,409 13,839 (2,725 ) Total with specific allowance recorded 88,127 85,894 (13,315 ) 88,788 86,542 (14,019 ) Combined single-family: 20 and 30-year or more, amortizing fixed-rate 77,626 74,708 (10,667 ) 77,843 74,939 (11,245 ) 15-year amortizing fixed-rate 999 996 (23 ) 1,020 1,016 (21 ) Adjustable-rate 701 690 (27 ) 712 701 (28 ) Alt-A, interest-only, and option ARM 15,964 14,968 (2,598 ) 15,779 14,872 (2,725 ) Total single-family $ 95,290 $ 91,362 $ (13,315 ) $ 95,354 $ 91,528 $ (14,019 ) Multifamily — With no specific allowance recorded (1) $ 277 $ 270 N/A $ 341 $ 333 N/A With specific allowance recorded 157 148 $ (19 ) 149 142 $ (21 ) Total multifamily $ 434 $ 418 $ (19 ) $ 490 $ 475 $ (21 ) Total single-family and multifamily $ 95,724 $ 91,780 $ (13,334 ) $ 95,844 $ 92,003 $ (14,040 ) For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 (in millions) Average Interest Interest Income (3) Average Recorded Investment Interest Income Recognized Interest Income Recognized On Cash Basis (3) Single-family — With no specific allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $ 4,015 $ 102 $ 2 $ 3,012 $ 88 $ 2 15-year amortizing fixed-rate 37 1 — 44 2 — Adjustable rate 222 2 — 33 1 — Alt-A, interest-only, and option ARM 1,195 25 1 683 18 — Total with no specific allowance recorded 5,469 130 3 3,772 109 2 With specific allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 70,731 685 74 76,264 632 81 15-year amortizing fixed-rate 942 12 2 1,147 13 3 Adjustable rate 461 5 1 788 4 1 Alt-A, interest-only, and option ARM 13,673 124 10 16,128 101 13 Total with specific allowance recorded 85,807 826 87 94,327 750 98 Combined single-family: 20 and 30-year or more, amortizing fixed-rate 74,746 787 76 79,276 720 83 15-year amortizing fixed-rate 979 13 2 1,191 15 3 Adjustable rate 683 7 1 821 5 1 Alt-A, interest-only, and option ARM 14,868 149 11 16,811 119 13 Total single-family $ 91,276 $ 956 $ 90 $ 98,099 $ 859 $ 100 Multifamily — With no specific allowance recorded (1) $ 271 $ 3 $ 1 $ 518 $ 6 $ 2 With specific allowance recorded 148 2 1 374 4 2 Total multifamily $ 419 $ 5 $ 2 $ 892 $ 10 $ 4 Total single-family and multifamily $ 91,695 $ 961 $ 92 $ 98,991 $ 869 $ 104 (1) Individually impaired loans with no specific related valuation allowance primarily represent those loans for which the collateral value is sufficiently in excess of the loan balance to result in recovery of the entire recorded investment if the property were foreclosed upon or otherwise subject to disposition. (2) Consists primarily of loans classified as TDRs. (3) Consists of income recognized during the period related to loans on non-accrual status. The table below presents our allowance for loan losses and our recorded investment in loans, held-for-investment, by impairment evaluation methodology. March 31, 2016 December 31, 2015 (in millions) Single-family Multifamily Total Single-family Multifamily Total Recorded investment: Collectively evaluated $ 1,629,214 $ 29,075 $ 1,658,289 $ 1,621,801 $ 30,728 $ 1,652,529 Individually evaluated 91,362 418 91,780 91,528 475 92,003 Total recorded investment 1,720,576 29,493 1,750,069 1,713,329 31,203 1,744,532 Ending balance of the allowance for loan losses: Collectively evaluated (1,171 ) (16 ) (1,187 ) (1,273 ) (18 ) (1,291 ) Individually evaluated (13,315 ) (19 ) (13,334 ) (14,019 ) (21 ) (14,040 ) Total ending balance of the allowance (14,486 ) (35 ) (14,521 ) (15,292 ) (39 ) (15,331 ) Net investment in loans $ 1,706,090 $ 29,458 $ 1,735,548 $ 1,698,037 $ 31,164 $ 1,729,201 CREDIT PROTECTION AND OTHER FORMS OF CREDIT ENHANCEMENT In connection with many of our single-family loans and other mortgage-related guarantees, we have various forms of credit protection. The table below presents the UPB of single-family loans on our consolidated balance sheets or underlying certain of our financial guarantees with credit protection and the maximum amounts of potential loss recovery by type of credit protection. UPB (1) at Maximum Coverage (1)(2) at (in millions) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Primary mortgage insurance $ 261,242 $ 257,063 $ 66,899 $ 65,760 STACR debt note and ACIS transactions (3) 271,291 241,450 16,842 14,916 Lender recourse and indemnifications 6,178 6,339 5,243 5,396 Pool insurance (4) 1,633 1,706 720 753 HFA indemnification 2,536 2,599 2,536 2,599 Subordination 2,920 3,021 319 336 Other credit enhancements 15 15 9 10 Total $ 545,815 $ 512,193 $ 92,568 $ 89,770 (1) Except for the majority of our single-family credit risk transfer transactions, our credit enhancements generally provide protection for the first, or initial, credit losses associated with the related loans. Excludes: (a) FHA/VA and other governmental loans; (b) credit protection associated with $8.0 billion and $8.3 billion in UPB of single-family loans underlying other securitization products as of March 31, 2016 and December 31, 2015, respectively, as the information was not available; and (c) repurchase rights (subject to certain conditions and limitations) we have under representations and warranties provided by our agreements with seller/servicers to underwrite loans and service them in accordance with our standards. The UPB of single-family loans covered by insurance or partial guarantees issued by federal agencies (such as FHA, VA and USDA) was $3.1 billion and $3.2 billion as of March 31, 2016 and December 31, 2015, respectively. (2) Except for subordination, this represents the remaining amount of loss recovery that is available subject to terms of counterparty agreements. For subordination, this represents the UPB of the securities that are subordinate to our guarantee, which could provide protection by absorbing first losses. (3) Excludes $100.8 billion and $87.4 billion in UPB at March 31, 2016 and December 31, 2015, respectively, where the related loans are also covered by primary mortgage insurance. Maximum coverage amounts presented represent the outstanding balance of STACR debt notes held by third parties as well as the remaining aggregate limit of insurance purchased from third parties in ACIS transactions. (4) Excludes approximately $0.5 billion and $0.6 billion in UPB at March 31, 2016 and December 31, 2015, respectively, where the related loans are also covered by primary mortgage insurance. Primary mortgage insurance and credit risk transfer transactions are the most prevalent types of credit enhancement protecting our single-family credit guarantee portfolio. Pool insurance contracts provide insurance on a group of mortgage loans up to a stated aggregate loss limit. We have not purchased pool insurance on single-family mortgage loans since March 2008. For information about counterparty risk associated with mortgage insurers, see Note 12. Our credit risk transfer transactions provide credit enhancement by transferring a portion of credit losses on single-family mortgage loans to third-party investors, insurers, and selected sellers. The value of these transactions to us is dependent on various economic scenarios, and we will primarily benefit from these transactions if we experience significant mortgage loan defaults. NON-CASH INVESTING AND FINANCING ACTIVITIES During the three months ended March 31, 2016 and March 31, 2015, we acquired $42.5 billion and $55.1 billion , respectively, of loans held-for-investment in exchange for the issuance of debt securities of consolidated trusts in guarantor swap transactions. The guarantor swap transactions during the three months ended March 31, 2016 and March 31, 2015 included approximately $3.8 billion and $0.8 billion , respectively, of loans received from sellers to satisfy advances that were recorded in other assets on our consolidated balance sheets. In addition, we acquired REO properties as a result of the derecognition of loans held on our consolidated balance sheets upon foreclosure of the underlying collateral or by deed in lieu of foreclosure. These acquisitions represent non-cash transfers. During the three months ended March 31, 2016 and March 31, 2015, we had transfers of $0.4 billion , and $0.6 billion , respectively, from loans to REO.

Investments in Securities

Investments in Securities	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN SECURITIES	INVESTMENTS IN SECURITIES The table below summarizes the carrying value of our investments in securities by classification. (in millions) March 31, 2016 December 31, 2015 Trading securities $ 36,471 $ 39,278 Available-for-sale securities 71,124 74,937 Total $ 107,595 $ 114,215 As of March 31, 2016 and December 31, 2015, we did not classify any securities as held-to-maturity, although we may elect to do so in the future. TRADING SECURITIES The table below presents the estimated fair values of our trading securities by major security type. Our non-mortgage-related securities consist of Treasury securities. (in millions) March 31, 2016 December 31, 2015 Mortgage-related securities: Freddie Mac $ 14,771 $ 15,513 Fannie Mae 6,182 6,438 Ginnie Mae 144 30 Other 136 146 Total mortgage-related securities 21,233 22,127 Non-mortgage-related securities 15,238 17,151 Total fair value of trading securities $ 36,471 $ 39,278 During the three months ended March 31, 2016 and March 31, 2015, we recorded net unrealized gains (losses) on trading securities held at those dates of $197 million and $46 million , respectively. AVAILABLE-FOR-SALE SECURITIES At March 31, 2016 and December 31, 2015, all available-for-sale securities were mortgage-related securities. INVESTMENTS IN SECURITIES The table below summarizes the carrying value of our investments in securities by classification. (in millions) March 31, 2016 December 31, 2015 Trading securities $ 36,471 $ 39,278 Available-for-sale securities 71,124 74,937 Total $ 107,595 $ 114,215 As of March 31, 2016 and December 31, 2015, we did not classify any securities as held-to-maturity, although we may elect to do so in the future. TRADING SECURITIES The table below presents the estimated fair values of our trading securities by major security type. Our non-mortgage-related securities consist of Treasury securities. (in millions) March 31, 2016 December 31, 2015 Mortgage-related securities: Freddie Mac $ 14,771 $ 15,513 Fannie Mae 6,182 6,438 Ginnie Mae 144 30 Other 136 146 Total mortgage-related securities 21,233 22,127 Non-mortgage-related securities 15,238 17,151 Total fair value of trading securities $ 36,471 $ 39,278 During the three months ended March 31, 2016 and March 31, 2015, we recorded net unrealized gains (losses) on trading securities held at those dates of $197 million and $46 million , respectively. The table below presents the amortized cost, gross unrealized gains and losses, and fair value by major security type for our securities classified as available-for-sale. March 31, 2016 Gross Unrealized Losses (in millions) Amortized Cost Gross Unrealized Gains Other-Than-Temporary Impairment (1) Temporary Impairment (2) Fair Value Available-for-sale securities: Freddie Mac $ 32,955 $ 1,363 $ — $ (43 ) $ 34,275 Fannie Mae 6,616 276 — (45 ) 6,847 Ginnie Mae 143 12 — — 155 CMBS 9,618 485 (13 ) (23 ) 10,067 Subprime 11,814 519 (327 ) (59 ) 11,947 Option ARM 3,159 238 (67 ) (5 ) 3,325 Alt-A and other 2,489 465 (8 ) (6 ) 2,940 Obligations of states and political subdivisions 996 17 — (1 ) 1,012 Manufactured housing 474 83 (1 ) — 556 Total available-for-sale securities $ 68,264 $ 3,458 $ (416 ) $ (182 ) $ 71,124 December 31, 2015 Gross Unrealized Losses (in millions) Amortized Gross Other-Than-Temporary Impairment (1) Temporary Impairment (2) Fair Available-for-sale securities: Freddie Mac $ 32,684 $ 942 $ — $ (99 ) $ 33,527 Fannie Mae 7,033 265 — (36 ) 7,262 Ginnie Mae 150 12 — — 162 CMBS 12,009 450 (2 ) (9 ) 12,448 Subprime 12,499 653 (295 ) (55 ) 12,802 Option ARM 3,423 317 (56 ) (6 ) 3,678 Alt-A and other 2,788 506 (11 ) (5 ) 3,278 Obligations of states and political subdivisions 1,187 19 — (1 ) 1,205 Manufactured housing 488 87 — — 575 Total available-for-sale securities $ 72,261 $ 3,251 $ (364 ) $ (211 ) $ 74,937 (1) Represents the gross unrealized losses for securities for which we have previously recognized other-than-temporary impairments in earnings. (2) Represents the gross unrealized losses for securities for which we have not previously recognized other-than-temporary impairments in earnings. Available-For-Sale Securities in a Gross Unrealized Loss Position The table below presents available-for-sale securities in a gross unrealized loss position and whether such securities have been in an unrealized loss position for less than 12 months, or 12 months or greater. March 31, 2016 Less than 12 Months 12 Months or Greater (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-sale securities: Freddie Mac $ 3,300 $ (26 ) $ 1,430 $ (17 ) Fannie Mae 2,286 (27 ) 1,220 (18 ) Ginnie Mae — — 53 — CMBS 175 (23 ) 144 (13 ) Subprime 1,766 (30 ) 3,669 (356 ) Option ARM 419 (22 ) 555 (50 ) Alt-A and other 152 (3 ) 219 (11 ) Obligations of states and political subdivisions 4 — 8 (1 ) Manufactured housing — — 14 (1 ) Total available-for-sale securities in a gross unrealized loss position $ 8,102 $ (131 ) $ 7,312 $ (467 ) December 31, 2015 Less than 12 Months 12 Months or Greater (in millions) Fair Gross Unrealized Losses Fair Gross Unrealized Losses Available-for-sale securities: Freddie Mac $ 8,171 $ (64 ) $ 1,224 $ (35 ) Fannie Mae 2,402 (24 ) 1,337 (12 ) Ginnie Mae — — 55 — CMBS 396 (9 ) 160 (2 ) Subprime 719 (21 ) 3,923 (329 ) Option ARM 349 (8 ) 579 (54 ) Alt-A and other 108 (1 ) 265 (15 ) Obligations of states and political subdivisions 18 — 8 (1 ) Manufactured housing — — 14 — Total available-for-sale securities in a gross unrealized loss position $ 12,163 $ (127 ) $ 7,565 $ (448 ) At March 31, 2016, the gross unrealized losses relate to 387 individual lots representing 345 separate securities. Impairment Recognition on Investments in Securities For our available-for-sale securities in an unrealized loss position at March 31, 2016, we have asserted that we have no intent to sell and believe it is not more likely than not that we will be required to sell the security before recovery of its amortized cost basis. Non-Agency Mortgage-Related Securities Backed by Subprime, Option ARM, Alt-A and Other Loans The table below presents the modeled attributes for the related collateral that are used to determine whether our interests in certain available-for-sale non-agency mortgage-related securities will experience a cash shortfall. March 31, 2016 (dollars in millions) Subprime Option ARM Alt-A UPB $ 16,462 $ 4,922 $ 2,376 Weighted average collateral defaults 42 % 26 % 22 % Weighted average collateral severities 63 % 56 % 45 % Weighted average voluntary prepayment rates 3 % 11 % 11 % Average security credit enhancements 5 % (2 )% — % Other-Than-Temporary Impairments on Available-for-Sale Securities The table below summarizes the net impairment on available-for-sale securities recognized in earnings. The other impairment amount relates to increases in our estimate of the present value of expected future credit losses for certain securities. Three Months Ended March 31, (in millions) 2016 2015 Net impairment of available-for-sale securities recognized in earnings Intent to sell $ 52 $ 89 Other 5 4 Total net impairment of available-for-sale securities recognized in earnings $ 57 $ 93 The following table is a rollforward of the amount of credit-related other-than-temporary impairment that has been recognized in earnings for available-for-sale securities that we continue to hold. Three Months Ended March 31, (in millions) 2016 2015 Credit-related other-than-temporary impairments on available-for-sale securities recognized in earnings: Beginning balance — remaining credit losses on available-for-sale securities where other-than-temporary impairments were recognized in earnings $ 5,306 $ 6,798 Additions: Amounts related to credit losses on securities for which an other-than-temporary impairment was not previously recognized — — Amounts related to credit losses on securities for which an other-than-temporary impairment was previously recognized 5 4 Reductions: Amounts related to securities which were sold, written off, or matured (55 ) (52 ) Amounts related to securities which we intend to sell or it is more likely than not that we will be required to sell before recovery of amortized cost basis (636 ) (380 ) Amounts related to amortization resulting from significant increases in cash flows expected to be collected and/or due to the passage of time that are recognized over the remaining life of the security (69 ) (89 ) Ending balance — remaining credit losses on available-for-sale securities where other-than-temporary impairments were recognized in earnings $ 4,551 $ 6,281 Realized Gains and Losses on Sales of Available-For-Sale Securities The table below summarizes the gross realized gains and gross realized losses from the sale of available-for-sale securities. Three Months Ended March 31, (in millions) 2016 2015 Gross realized gains $ 80 $ 367 Gross realized losses (8 ) (5 ) Net realized gains (losses) $ 72 $ 362 Maturities of Available-For-Sale Securities The table below presents the remaining contractual maturities of available-for-sale securities by security type. As of March 31, 2016 After One Year Through Five Years After Five Years Through Ten Years Total Amortized Cost Total Fair Value One Year or Less After Ten Years Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value (dollars in millions) Available-for-sale securities: Freddie Mac $ 32,955 $ 34,275 $ 19 $ 19 $ 1 $ 1 $ 1,692 $ 1,684 $ 31,243 $ 32,571 Fannie Mae 6,616 6,847 3 3 11 12 72 81 6,530 6,751 Ginnie Mae 143 155 — — 1 1 21 24 121 130 CMBS 9,618 10,067 140 142 — — 17 17 9,461 9,908 Subprime 11,814 11,947 — — — — — — 11,814 11,947 Option ARM 3,159 3,325 — — — — — — 3,159 3,325 Alt-A and other 2,489 2,940 — — 13 13 6 7 2,470 2,920 Obligations of states and political subdivisions 996 1,012 10 11 23 24 75 78 888 899 Manufactured housing 474 556 — — — — 7 9 467 547 Total available-for-sale securities $ 68,264 $ 71,124 $ 172 $ 175 $ 49 $ 51 $ 1,890 $ 1,900 $ 66,153 $ 68,998 NON-CASH INVESTING AND FINANCING ACTIVITIES During the three months ended March 31, 2016 and March 31, 2015, we received investment securities as consideration for the issuance of debt securities of consolidated trusts of [ $0.0 billion and $0.0 billion ], respectively. In addition, during the three months ended March 31, 2016 and March 31, 2015, we extinguished debt securities of consolidated trusts as consideration for the transfer of investment securities of [ $0.0 billion and $0.0 billion ], respectively.

Debt Securities and Subordinate

Debt Securities and Subordinated Borrowings	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
DEBT SECURITIES AND SUBORDINATED BORROWINGS	DEBT SECURITIES AND SUBORDINATED BORROWINGS On January 1, 2016, we adopted the accounting guidance for the presentation of debt issuance costs as a basis adjustment to the debt. Previously reported amounts have been revised to conform to the current presentation. Debt securities that we issue are classified as either debt securities of consolidated trusts held by third parties or other debt. We issue other debt to fund our operations. The table below summarizes the interest expense per our consolidated statements of comprehensive income and the balances of total debt, net per our consolidated balance sheets. Interest Expense for the Balance, Net Three Months Ended March 31, (in millions) March 31, 2016 December 31, 2015 2016 2015 Debt securities of consolidated trusts held by third parties $ 1,568,183 $ 1,556,121 $ 11,791 $ 11,487 Other debt: Short-term debt 85,128 113,569 93 38 Long-term debt 302,307 300,579 1,504 1,563 Total other debt 387,435 414,148 1,597 1,601 Total debt, net $ 1,955,618 $ 1,970,269 $ 13,388 $ 13,088 Our debt cap under the Purchase Agreement is $479.0 billion in 2016 and will decline to $407.2 billion on January 1, 2017. As of March 31, 2016, our aggregate indebtedness for purposes of the debt cap was $391.3 billion . Our aggregate indebtedness is calculated as the par value of other short- and long-term debt. DEBT SECURITIES OF CONSOLIDATED TRUSTS HELD BY THIRD PARTIES The table below summarizes the debt securities of consolidated trusts held by third parties based on underlying loan product type. March 31, 2016 December 31, 2015 (dollars in million) Contractual Maturity UPB Carrying Amount Weighted Average Coupon (1) Contractual Maturity UPB Carrying Amount Weighted Average Coupon (1) Single-family: 30-year or more, fixed-rate (2) 2016 - 2053 $ 1,107,363 $ 1,141,139 3.85 % 2016 - 2053 $ 1,090,584 $ 1,123,290 3.88 % 20-year fixed-rate 2016 - 2036 74,054 76,302 3.58 2016 - 2036 73,018 75,221 3.61 15-year fixed-rate 2016 - 2031 266,078 272,450 2.99 2016 - 2031 270,036 276,531 3.01 Adjustable-rate 2016 - 2047 60,613 61,973 2.62 2016 - 2047 62,496 63,899 2.61 Interest-only 2026 - 2041 13,482 13,542 3.20 2026 - 2041 14,252 14,317 3.16 FHA/VA 2016 - 2044 944 962 5.35 2016 - 2044 986 1,005 5.37 Total single-family 1,522,534 1,566,368 1,511,372 1,554,263 Multifamily (2) 2017 - 2028 1,690 1,815 4.91 2017 - 2028 1,717 1,858 4.90 Total debt securities of consolidated trusts held by third parties $ 1,524,224 $ 1,568,183 $ 1,513,089 $ 1,556,121 (1) The effective rate for debt securities of consolidated trusts held by third parties was 3.05% and 3.06% as of March 31, 2016 and December 31, 2015, respectively. (2) Carrying amount includes securities recorded at fair value. OTHER SHORT-TERM DEBT As indicated in the table below, a majority of other short-term debt consisted of discount notes and Reference Bills ® securities, paying only principal at maturity. Discount notes, Reference Bills ® securities, and medium-term notes are unsecured general corporate obligations. Certain medium-term notes that have original maturities of one year or less are classified as other short-term debt for purposes of this presentation. Other Debt The table below summarizes the balances and effective interest rates for other debt. We had no balances of securities sold under agreements to repurchase at either March 31, 2016 or December 31, 2015. March 31, 2016 December 31, 2015 (dollars in millions) Par Value Carrying Amount (1) Weighted Average Effective Rate Par Value Carrying Amount (1) Weighted Average Effective Rate Other short-term debt: Discount notes and Reference Bills ® $ 75,659 $ 75,583 0.42 % $ 104,088 $ 104,024 0.28 % Medium-term notes 9,545 9,545 0.20 9,545 9,545 0.20 Total other short-term debt $ 85,204 $ 85,128 0.40 $ 113,633 $ 113,569 0.28 Other long-term debt: Original maturities on or before December 31, 2016 $ 49,654 $ 49,675 2.17 % $ 58,765 $ 58,821 2.13 % 2017 95,586 95,660 1.44 91,544 91,636 1.48 2018 54,118 54,149 1.42 48,189 48,187 1.52 2019 39,455 39,361 1.73 31,352 31,259 1.84 2020 16,732 16,705 1.88 26,697 26,664 1.96 Thereafter 50,573 46,757 3.70 47,841 44,012 3.72 Total other long-term debt (2) 306,118 302,307 1.97 304,388 300,579 2.02 Total other debt $ 391,322 $ 387,435 $ 418,021 $ 414,148 (1) Represents par value, net of associated discounts or premiums, and hedge-related basis adjustments. Includes $6.8 billion and $7.0 billion at March 31, 2016 and December 31, 2015, respectively, of other long-term debt that represents the fair value of debt securities with the fair value option elected. (2) Balance, net for other long-term debt includes callable debt of $107.9 billion and $106.9 billion at March 31, 2016 and December 31, 2015, respectively, which gives us the option to call or not call debt for a variety of reasons that include managing the composition of liabilities or economic reasons. A portion of our other long-term debt is callable. Callable debt gives us the option to redeem the debt security at par on one or more specified call dates or at any time on or after a specified call date.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES At March 31, 2016 and December 31, 2015, we did not have any derivatives in hedge accounting relationships; however, there are amounts recorded in AOCI related to discontinued cash flow hedges which are recognized in earnings when the originally forecasted transactions affect earnings. Amounts reclassified from AOCI linked to interest payments on other debt are recorded in other debt interest expense and amounts not linked to interest payments on other debt are recorded in expense related to derivatives. During the three months ended March 31, 2016 and March 31, 2015, we reclassified from AOCI into earnings, losses of $51 million and $65 million , respectively, related to closed cash flow hedges. See Note 9 for information about future reclassifications of deferred net losses related to closed cash flow hedges to net income. USE OF DERIVATIVES We use derivatives primarily to hedge interest-rate sensitivity mismatches between our financial assets and liabilities. We analyze the interest-rate sensitivity of financial assets and liabilities on a daily basis across a variety of interest-rate scenarios based on market prices, models and economics. When we use derivatives to mitigate our exposures, we consider a number of factors, including cost, exposure to counterparty risk, and our overall risk management strategy. We classify derivatives into three categories: • Exchange-traded derivatives; • Cleared derivatives; and • OTC derivatives. Exchange-traded derivatives include standardized interest-rate futures contracts and options on futures contracts. Cleared derivatives refer to those interest-rate swaps that the U.S. Commodity Futures Trading Commission has determined are subject to the central clearing requirement of the Dodd-Frank Act. OTC derivatives refer to those derivatives that are neither exchange-traded derivatives nor cleared derivatives. TYPES OF DERIVATIVES We principally use the following types of derivatives: • LIBOR-based interest-rate swaps; • LIBOR- and Treasury-based options (including swaptions); and • LIBOR- and Treasury-based exchange-traded futures. In addition to swaps, futures, and purchased options, our derivative positions include written options and swaptions, commitments, and credit derivatives. For a discussion of significant accounting policies related to derivatives, see Note 8 in our 2015 Annual Report. DERIVATIVE ASSETS AND LIABILITIES AT FAIR VALUE The table below presents the notional value and fair value of derivatives reported on our consolidated balance sheets. March 31, 2016 December 31, 2015 Notional or Contractual Amount Derivatives at Fair Value Notional or Contractual Amount Derivatives at Fair Value (in millions) Assets Liabilities Assets Liabilities Total derivative portfolio Interest-rate swaps: Receive-fixed $ 263,757 $ 7,282 $ (58 ) $ 209,988 $ 4,591 $ (486 ) Pay-fixed 219,907 12 (19,991 ) 218,599 319 (11,736 ) Basis (floating to floating) 1,125 1 — 1,125 1 — Total interest-rate swaps 484,789 7,295 (20,049 ) 429,712 4,911 (12,222 ) Option-based: Call swaptions Purchased 59,230 5,288 — 57,925 3,450 — Written 4,375 — (151 ) 4,375 — (100 ) Put Swaptions Purchased 29,080 424 — 24,050 580 — Written 11,025 — (5 ) 11,025 — (28 ) Other option-based derivatives (1) 14,096 949 — 12,088 791 — Total option-based 117,806 6,661 (156 ) 109,463 4,821 (128 ) Futures 69,739 — — 56,332 — — Commitments 58,008 126 (174 ) 29,114 34 (28 ) Credit derivatives 3,743 22 (7 ) 3,899 25 (10 ) Other 3,013 — (23 ) 3,033 — (23 ) Total derivatives not designated as hedging instruments 737,098 14,104 (20,409 ) 631,553 9,791 (12,411 ) Derivative interest receivable (payable) 1,164 (1,617 ) 814 (1,393 ) Netting adjustments (2) (14,454 ) 20,394 (10,210 ) 12,550 Total derivative portfolio, net $ 737,098 $ 814 $ (1,632 ) $ 631,553 $ 395 $ (1,254 ) (1) Primarily consists of purchased interest-rate caps and floors. (2) Represents counterparty netting and cash collateral netting. Cash collateral amounts were a net $5.9 billion and $2.3 billion at March 31, 2016 and December 31, 2015, respectively. See Note 8 for information related to our derivative counterparties and collateral held and posted. GAINS AND LOSSES ON DERIVATIVES The table below presents the gains and losses on derivatives, including the accrual of periodic cash settlements, reported in our consolidated statements of comprehensive income as derivative gains (losses). Three Months Ended March 31, (in millions) 2016 2015 Interest-rate swaps: Receive-fixed $ 2,944 $ 1,317 Pay-fixed (8,635 ) (3,978 ) Basis (floating to floating) 1 — Total interest-rate swaps (5,690 ) (2,661 ) Option based: Call swaptions Purchased 2,099 1,015 Written (71 ) (29 ) Put swaptions Purchased (278 ) (66 ) Written 38 15 Other option-based derivatives (1) 147 81 Total option-based 1,935 1,016 Other: Futures (181 ) (40 ) Commitments (126 ) (111 ) Credit derivatives (8 ) (37 ) Other (1 ) 1 Total other (316 ) (187 ) Accrual of periodic cash settlements: Receive-fixed interest-rate swaps 617 680 Pay-fixed interest-rate swaps (1,107 ) (1,251 ) Total accrual of periodic cash settlements (490 ) (571 ) Total $ (4,561 ) $ (2,403 ) (1) Primarily consists of purchased interest-rate caps and floors.

Collateral and Offsetting of As

Collateral and Offsetting of Assets and Liabilities	3 Months Ended
	Mar. 31, 2016
Offsetting [Abstract]
COLLATERAL AND OFFSETTING OF ASSETS AND LIABILITIES	COLLATERALIZED AGREEMENTS AND OFFSETTING ARRANGEMENTS DERIVATIVE PORTFOLIO Derivative Counterparties Our use of cleared derivatives, exchange-traded derivatives, and OTC derivatives exposes us to institutional credit risk. For additional information, see Note 9 in our 2015 Annual Report. Our use of interest rate swaps and option-based derivatives is subject to internal credit and legal reviews. On an ongoing basis, we review the credit fundamentals of all of our derivative counterparties, clearinghouses, and clearing members to confirm that they continue to meet our internal risk management standards. Master Netting and Collateral Agreements We use master netting and collateral agreements to reduce our credit risk exposure to our derivative counterparties for interest-rate swap and option-based derivatives. At March 31, 2016 and December 31, 2015, all amounts of cash collateral related to derivatives with master netting and collateral agreements were offset against derivative assets, net or derivative liabilities, net, as applicable. In the event that all of our counterparties for OTC interest-rate swaps and option-based derivatives were to have defaulted simultaneously on March 31, 2016 , our maximum loss for accounting purposes after applying netting agreements and collateral on an individual counterparty basis would have been approximately $205 million . A significant majority of our net uncollateralized exposure to OTC derivative counterparties is concentrated among two counterparties, both of which were investment grade as of March 31, 2016 . Exposure to Certain Counterparties The total exposure on our forward purchase and sale commitments, which are treated as derivatives, was $126 million and $34 million at March 31, 2016 and December 31, 2015, respectively. Many of our transactions involving forward purchase and sale commitments of mortgage-related securities, including our dollar roll transactions, utilize the Mortgage Backed Securities Division of the Fixed Income Clearing Corporation (“MBSD/FICC”) as a clearinghouse. As a clearing member of the clearinghouse, we post margin to the MBSD/FICC and are exposed to the institutional credit risk of the organization (including its clearing members). OFFSETTING OF FINANCIAL ASSETS AND LIABILITIES The table below displays information related to derivatives and securities purchased under agreements to resell on our consolidated balance sheets. March 31, 2016 (in millions) Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets (1) Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount Assets: Derivatives: OTC interest-rate swaps and option-based derivatives $ 11,672 $ (11,031 ) $ 641 $ (436 ) $ 205 Cleared and exchange-traded derivatives 3,448 (3,423 ) 25 — 25 Other 148 — 148 — 148 Total derivatives 15,268 (14,454 ) 814 (436 ) 378 Securities purchased under agreements to resell 40,098 — 40,098 (40,098 ) — Total $ 55,366 $ (14,454 ) $ 40,912 $ (40,534 ) $ 378 Liabilities: Derivatives: OTC interest-rate swaps and option-based derivatives $ (11,819 ) $ 10,594 $ (1,225 ) $ 1,084 $ (141 ) Cleared and exchange-traded derivatives (10,003 ) 9,800 (203 ) — (203 ) Other (204 ) — (204 ) — (204 ) Total $ (22,026 ) $ 20,394 $ (1,632 ) $ 1,084 $ (548 ) December 31, 2015 (in millions) Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets (1) Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount Assets: Derivatives: OTC interest-rate swaps and option-based derivatives $ 8,763 $ (8,433 ) $ 330 $ (269 ) $ 61 Cleared and exchange-traded derivatives 1,783 (1,777 ) 6 — 6 Other 59 — 59 — 59 Total derivatives 10,605 (10,210 ) 395 (269 ) 126 Securities purchased under agreements to resell 63,644 — 63,644 (63,644 ) — Total $ 74,249 $ (10,210 ) $ 64,039 $ (63,913 ) $ 126 Liabilities: Derivatives: OTC interest-rate swaps and option-based derivatives $ (8,886 ) $ 7,801 $ (1,085 ) $ 948 $ (137 ) Cleared and exchange-traded derivatives (4,857 ) 4,749 (108 ) — (108 ) Other (61 ) — (61 ) — (61 ) Total $ (13,804 ) $ 12,550 $ (1,254 ) $ 948 $ (306 ) (1) For derivatives, includes cash collateral posted or held in excess of exposure. (2) Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability presented on the consolidated balance sheets. For cleared and exchange-traded derivatives, does not include non-cash collateral posted by us with an aggregate fair value of $2.6 billion and $2.8 billion as of March 31, 2016 and December 31, 2015, respectively. COLLATERAL PLEDGED Collateral Pledged to Freddie Mac We have cash and cash equivalents pledged to us as collateral related to OTC derivative transactions. A portion of these cash and cash equivalent collateral amounts have been re-invested by us in securities purchased under agreements to resell and non-mortgage-related securities. The table below shows the line item presentation of these funds received and those re-invested by us on our condensed consolidated balance sheets. (in millions) March 31, 2016 December 31, 2015 Restricted cash and cash equivalents $ 349 $ 175 Securities purchased under agreements to resell 582 905 Investments in securities - Trading securities 1,075 447 Total $ 2,006 $ 1,527 At March 31, 2016 and December 31, 2015, we had $436 million and $269 million , respectively, of collateral in the form of securities pledged to and held by us related to OTC derivative instruments. Although it is our practice not to repledge assets held as collateral, a portion of the collateral may be repledged based on master netting agreements related to our derivative instruments. In addition, we had $40 million and $22 million of cash pledged to us related to cleared derivatives at March 31, 2016 and December 31, 2015, respectively. Also, at March 31, 2016 and December 31, 2015, we had $0.4 billion and $0.7 billion , respectively, of securities pledged to us for transactions involving securities purchased under agreements to resell that we had the right to repledge. From time to time we may obtain pledges of collateral from certain seller/servicers as additional security for certain of their obligations to us, including their obligations to repurchase loans sold to us in breach of representations and warranties. This collateral may, at our discretion, take the form of cash, cash equivalents, or agency securities. Collateral Pledged by Freddie Mac The aggregate fair value of all OTC derivative instruments that were in a liability position on March 31, 2016 , was $2.8 billion for which we posted cash and non-cash collateral of $2.6 billion in the normal course of business. A reduction in our credit ratings may trigger additional collateral requirements related to our OTC derivative instruments. If a reduction in our credit ratings had triggered additional collateral requirements related to our OTC derivative instruments on March 31, 2016, we would have been required to post an additional $0.2 billion of collateral to our counterparties. A reduction in our credit ratings could also cause the clearinghouses or clearing members we use for our cleared and exchange-traded derivatives to demand additional collateral. The table below summarizes all securities pledged as collateral by us for derivatives and securities transactions where the secured party may repledge. (in millions) March 31, 2016 December 31, 2015 Securities pledged with the ability for the secured party to repledge: Debt securities of consolidated trusts held by third parties (1) $ 1,711 $ 1,293 Available-for-sale securities 175 — Trading securities 1,995 2,487 Total securities pledged $ 3,881 $ 3,780 (1) Represents PCs held by us in our Investments segment mortgage investments portfolio and pledged as collateral which are recorded as a reduction to debt securities of consolidated trusts held by third parties on our consolidated balance sheets. Cash Pledged At March 31, 2016 , we pledged $8.2 billion of collateral in the form of cash and cash equivalents, of which $1.6 billion related to our OTC derivative agreements as we had $2.8 billion of such derivatives in a net loss position. The remaining $6.6 billion was posted at clearing members or clearinghouses in connection with derivatives and securities transactions at March 31, 2016 . At December 31, 2015 , we pledged $4.0 billion of collateral in the form of cash and cash equivalents, of which $0.9 billion related to our OTC derivative agreements as we had $1.9 billion of such derivatives in a net loss position. The remaining $3.1 billion was posted at clearing members or clearinghouses in connection with derivatives and securities transactions at December 31, 2015 .

Stockholders' Equity and Earnin

Stockholders' Equity and Earnings per Share	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE ACCUMULATED OTHER COMPREHENSIVE INCOME The table below presents changes in AOCI after the effects of our 35% federal statutory tax rate related to available-for-sale securities, closed cash flow hedges, and our defined benefit plans. Three Months Ended March 31, 2016 (in millions) AOCI Related to Available- For-Sale Securities AOCI Related to Cash Flow Hedge Relationships AOCI Related to Defined Benefit Plans Total Beginning balance $ 1,740 $ (621 ) $ 34 $ 1,153 Other comprehensive income before reclassifications (1) 129 — 2 131 Amounts reclassified from accumulated other comprehensive income (10 ) 34 (1 ) 23 Changes in AOCI by component 119 34 1 154 Ending balance $ 1,859 $ (587 ) $ 35 $ 1,307 Three Months Ended March 31, 2015 (in millions) AOCI Related to Available- For-Sale Securities AOCI Related to Cash Flow Hedge Relationships AOCI Related to Defined Benefit Plans Total Beginning balance $ 2,546 $ (803 ) $ (13 ) $ 1,730 Other comprehensive income before reclassifications (1) 331 — 6 337 Amounts reclassified from accumulated other comprehensive income (174 ) 59 — (115 ) Changes in AOCI by component 157 59 6 222 Ending balance $ 2,703 $ (744 ) $ (7 ) $ 1,952 (1) For the three months ended March 31, 2016 and March 31, 2015, net of tax expense of $0.1 billion and $0.2 billion , respectively, for AOCI related to available-for-sale securities. Reclassifications from AOCI to Net Income The table below presents reclassifications from AOCI to net income, including the affected line item in our consolidated statements of comprehensive income. Details about Accumulated Other Comprehensive Income Components Three Months Ended March 31, Affected Line Item in the Consolidated Statements of Comprehensive Income (in millions) 2016 2015 AOCI related to available-for-sale securities $ 72 $ 362 Other gains (losses) on investment securities recognized in earnings (57 ) (93 ) Net impairment of available-for-sale securities recognized in earnings 15 269 Total before tax (5 ) (95 ) Tax (expense) or benefit 10 174 Net of tax AOCI related to cash flow hedge relationships — — Interest expense — Other debt (51 ) (65 ) Expense related to derivatives (51 ) (65 ) Total before tax 17 6 Tax (expense) or benefit (34 ) (59 ) Net of tax AOCI related to defined benefit plans 1 — Salaries and employee benefits — — Tax (expense) or benefit 1 — Net of tax Total reclassifications in the period $ (23 ) $ 115 Net of tax Future Reclassifications from AOCI to Net Income Related to Closed Cash Flow Hedges The total AOCI related to derivatives designated as cash flow hedges was a loss of $0.6 billion and $0.7 billion at March 31, 2016 and March 31, 2015, respectively, composed of deferred net losses on closed cash flow hedges. Closed cash flow hedges involve derivatives that have been terminated or are no longer designated as cash flow hedges. Fluctuations in prevailing market interest rates have no effect on the deferred portion of AOCI relating to losses on closed cash flow hedges. The previously deferred amount related to closed cash flow hedges remains in our AOCI balance and will be recognized into earnings over the expected time period for which the forecasted transactions affect earnings, unless it is deemed probable that the forecasted transactions will not occur. Over the next 12 months, we estimate that approximately $136 million , net of taxes, of the $0.6 billion of cash flow hedge losses in AOCI at March 31, 2016 will be reclassified into earnings. The maximum remaining length of time over which we have hedged the exposure related to the variability in future cash flows on forecasted transactions, primarily forecasted debt issuances, is 18 years. SENIOR PREFERRED STOCK At March 31, 2016 , our assets exceeded our liabilities under GAAP; therefore no draw is being requested from Treasury under the Purchase Agreement. Based on our Net Worth Amount at March 31, 2016 and the Capital Reserve Amount of $1.2 billion in 2016, we do not have a dividend obligation to Treasury for the first quarter of 2016. See Note 2 for additional information. The aggregate liquidation preference on the senior preferred stock owned by Treasury was $72.3 billion as of both March 31, 2016 and December 31, 2015. STOCK ISSUANCES AND REPURCHASES We did not repurchase or issue any of our common shares or non-cumulative preferred stock during the three months ended March 31, 2016 , except for issuances of treasury stock relating to stock-based compensation granted prior to conservatorship. EARNINGS PER SHARE We have participating securities related to options and restricted stock units with dividend equivalent rights that receive dividends as declared on an equal basis with common shares but are not obligated to participate in undistributed net losses. These participating securities consist of: • Vested options to purchase common stock; and • Vested restricted stock units that earn dividend equivalents at the same rate when and as declared on common stock. Consequently, in accordance with accounting guidance, we use the “two-class” method of computing earnings per common share. The “two-class” method is an earnings allocation formula that determines earnings per share for common stock and participating securities based on dividends declared and participation rights in undistributed earnings. Basic earnings per common share is computed as net income attributable to common stockholders divided by the weighted average common shares outstanding for the period. The weighted average common shares outstanding for the period includes the weighted average number of shares that are associated with the warrant for our common stock issued to Treasury pursuant to the Purchase Agreement. These shares are included since the warrant is unconditionally exercisable by the holder at a minimal cost. Diluted earnings per common share is computed as net income attributable to common stockholders divided by the weighted average common shares outstanding during the period adjusted for the dilutive effect of common equivalent shares outstanding. For periods with net income attributable to common stockholders, the calculation includes the effect of the following common stock equivalent shares outstanding: • Weighted average shares related to stock options if the average market price during the period exceeds the exercise price; and • The weighted-average of restricted stock units. During periods in which a net loss attributable to common stockholders has been incurred, potential common equivalent shares outstanding are not included in the calculation because it would have an antidilutive effect. For purposes of the earnings-per-share calculation, all stock options outstanding at March 31, 2016 and March 31, 2015 were out of the money and excluded from the computation of dilutive potential common shares during the three months ended March 31, 2016 and March 31, 2015, respectively. DIVIDENDS DECLARED No common dividends were declared during the three months ended March 31, 2016. During the three months ended March 31, 2016 we paid dividends of $1.7 billion in cash on the senior preferred stock at the direction of our Conservator. We did not declare or pay dividends on any other series of Freddie Mac preferred stock outstanding during the three months ended March 31, 2016 .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES INCOME TAX BENEFIT (EXPENSE) For the three months ended March 31, 2016 and March 31, 2015, we reported an income tax benefit(expense) of $154 million and $(264) million , respectively, resulting in effective tax rates of 30.3% and 33.5% , respectively. Our effective tax rate differed from the statutory rate of 35% in these periods primarily due to our recognition of low income housing tax credits. Deferred Tax Assets, Net We had net deferred tax assets of $18.1 billion and $18.2 billion as of March 31, 2016 and December 31, 2015 , respectively. At March 31, 2016 , our net deferred tax assets consisted primarily of basis differences related to derivative instruments and deferred fees. Based on all positive and negative evidence available at March 31, 2016 , we determined that it is more likely than not that our net deferred tax assets will be realized. Therefore, a valuation allowance was not necessary. UNRECOGNIZED TAX BENEFITS We evaluated all income tax positions and determined that there were no uncertain tax positions that required reserves as of March 31, 2016 .

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING We have three reportable segments, which are based on the type of business activities each performs - Single-family Guarantee, Multifamily, and Investments. The chart below provides a summary of our three reportable segments and the All Other category. For more information, see our 2015 Annual Report. Segment Description Financial Performance Measurement Basis Single-family Guarantee The Single-family Guarantee segment reflects results from our purchase, securitization, and guarantee of single-family loans and the management of single-family mortgage credit risk. Contribution to GAAP net income (loss) Multifamily The Multifamily segment reflects results from our purchase, investment, securitization, and guarantee activities in multifamily loans and securities, and the management of multifamily mortgage credit risk. Contribution to GAAP comprehensive income (loss) Investments The Investments segment reflects results from managing the company's mortgage-related investments portfolio (excluding Multifamily segment investments and single-family seriously delinquent loans), treasury function, and interest-rate risk. Contribution to GAAP comprehensive income (loss) All Other The All Other category consists of material corporate-level activities that are infrequent in nature and based on decisions outside the control of the management of our reportable segments. N/A Segment Earnings We present Segment Earnings by reclassifying certain credit guarantee-related activities and investment-related activities between various line items on our GAAP consolidated statements of comprehensive income and allocating certain revenues and expenses, including certain returns on assets and funding costs, and all administrative expenses to our three reportable segments. We do not consider our assets by segment when evaluating segment performance or allocating resources. We operate our business in the United States and its territories, and accordingly, we generate no revenue from and have no long-lived assets, other than financial instruments, in geographic locations other than the United States and its territories. We evaluate segment performance and allocate resources based on a Segment Earnings approach, subject to the conduct of our business under the direction of the Conservator. See Note 2 for information about the conservatorship. During the three months ended March 31, 2016, we changed how we calculate certain components of our Segment Earnings for our Single-family Guarantee and Investments segments. The purpose of these changes is to simplify Segment Earnings results relative to GAAP results, as well as to reduce operational complexity. Prior period results have been revised to conform to the current period presentation. Changes include: • The discontinuation of adjustments to net interest income and management and guarantee fee income which reflected the amortization of cash premiums and discounts on the consolidated Freddie Mac mortgage-related securities we purchased as investments, as well as the amortization of certain guarantee buy-up and buy-down fees and credit delivery fees on mortgage loans we purchased. The discontinuation of the adjustments resulted in an increase to net interest income for the Investments segment of $181 million and a decrease to management and guarantee fee income for the Single-family Guarantee segment of $66 million for the three months ended March 31, 2015 to align with the current presentation. • When we securitize loans into PCs, the premiums and discounts on the loans were previously amortized in net interest income. This amortization will now be reflected in other non-interest income, consistent with the amortization of the premiums and discounts on the securitized PCs themselves. We reclassified $348 million of expense from net interest income into other non-interest income for the Investments segment for the three months ended March 31, 2015 to align with the current presentation. • Impacts from the reclassification of mortgage loans from held-for-investment to held-for-sale will be reflected in aggregate as other non-interest income. We reclassified $692 million of benefit from (provision) benefit for credit losses and $360 million of expense from other non-interest expense into other non-interest income for the Single-family Guarantee segment for the three months ended March 31, 2015 to align with the current presentation. The table below presents Segment Earnings by segment. Three Months Ended March 31, (in millions) 2016 2015 Segment Earnings (loss), net of taxes: Single-family Guarantee $ 810 $ 60 Multifamily 147 284 Investments (1,311 ) 180 All Other — — Total Segment Earnings, net of taxes (354 ) 524 Net income $ (354 ) $ 524 Comprehensive income (loss) of segments: Single-family Guarantee $ 811 $ 59 Multifamily 150 264 Investments (1,161 ) 416 All Other — 7 Comprehensive income of segments (200 ) 746 Comprehensive income $ (200 ) $ 746 The tables below present detailed reconciliations between our GAAP financial statements and Segment Earnings for our reportable segments and All Other. Three Months Ended March 31, 2016 Total Segment Earnings (Loss) Total per Consolidated Statements of Comprehensive Income Single-family Guarantee Multifamily Investments All Other Reclassifications (in millions) Net interest income (loss) $ (118 ) $ 252 $ 748 $ — $ 882 $ 2,523 $ 3,405 Management and guarantee fee income (1) 1,285 108 — — 1,393 (1,283 ) 110 Benefit for credit losses 289 5 — — 294 173 467 Net interest income and management and guarantee income after benefit (provision) for credit losses 1,456 365 748 — 2,569 1,413 3,982 Net impairment of available-for-sale securities recognized in earnings — — 81 — 81 (138 ) (57 ) Derivative gains (losses) (8 ) (787 ) (2,995 ) — (3,790 ) (771 ) (4,561 ) Gains (losses) on trading securities — 62 169 — 231 — 231 Gains (losses) on mortgage loans — 497 — — 497 (19 ) 478 Other non-interest income (loss) 195 178 189 — 562 (186 ) 376 Administrative expenses (295 ) (80 ) (73 ) — (448 ) — (448 ) REO operations income (expense) (84 ) — — — (84 ) — (84 ) Other non-interest expense (100 ) (24 ) (2 ) — (126 ) (299 ) (425 ) Income tax (expense) benefit (354 ) (64 ) 572 — 154 — 154 Net income (loss) 810 147 (1,311 ) — (354 ) — (354 ) Changes in unrealized gains (losses) related to available-for-sale securities — 3 116 — 119 — 119 Changes in unrealized gains (losses) related to cash flow hedge relationships — — 34 — 34 — 34 Changes in defined benefit plans 1 — — — 1 — 1 Total other comprehensive income (loss), net of taxes 1 3 150 — 154 — 154 Comprehensive income (loss) $ 811 $ 150 $ (1,161 ) $ — $ (200 ) $ — $ (200 ) Three Months Ended March 31, 2015 Total Segment Earnings (Loss) Total per Consolidated Statements of Comprehensive Income Single-family Guarantee Multifamily Investments All Other Reclassifications (in millions) Net interest income (loss) $ (137 ) $ 242 $ 1,155 $ — $ 1,260 $ 2,387 $ 3,647 Management and guarantee fee income (1) 1,257 73 — — 1,330 (1,242 ) 88 (Provision) benefit for credit losses (380 ) 3 — — (377 ) 876 499 Net interest income and management and guarantee income after benefit (provision) for credit losses 740 318 1,155 — 2,213 2,021 4,234 Net impairment of available-for-sale securities recognized in earnings — (17 ) 118 — 101 (194 ) (93 ) Derivative gains (losses) (37 ) (199 ) (1,428 ) — (1,664 ) (739 ) (2,403 ) Gains (losses) on trading securities — 10 45 — 55 — 55 Gains (losses) on mortgage loans — 353 — — 353 (553 ) (200 ) Other non-interest income (loss) (146 ) 44 461 — 359 47 406 Administrative expenses (300 ) (70 ) (81 ) — (451 ) — (451 ) REO operations income (expense) (75 ) — — — (75 ) — (75 ) Other non-interest expense (92 ) (11 ) — — (103 ) (582 ) (685 ) Income tax (expense) benefit (30 ) (144 ) (90 ) — (264 ) — (264 ) Net income 60 284 180 — 524 — 524 Changes in unrealized gains (losses) related to available-for-sale securities — (20 ) 177 — 157 — 157 Changes in unrealized gains (losses) related to cash flow hedge relationships — — 59 — 59 — 59 Changes in defined benefit plans (1 ) — — 7 6 — 6 Total other comprehensive income (loss), net of taxes (1 ) (20 ) 236 7 222 — 222 Comprehensive income $ 59 $ 264 $ 416 $ 7 $ 746 $ — $ 746 (1) Management and guarantee fee income is included in other income (loss) on our GAAP consolidated statements of comprehensive income.

Concentration of Credit and Oth

Concentration of Credit and Other Risks	3 Months Ended
	Mar. 31, 2016
Risks and Uncertainties [Abstract]
CONCENTRATION OF CREDIT AND OTHER RISKS	CONCENTRATION OF CREDIT AND OTHER RISKS SINGLE-FAMILY CREDIT GUARANTEE PORTFOLIO The table below summarizes the concentration by book and geographic area of the approximately $1.7 trillion UPB of our single-family credit guarantee portfolio at both March 31, 2016 and December 31, 2015. See Note 4 and Note 5 for more information about credit risk associated with loans and mortgage-related securities that we hold or guarantee. March 31, 2016 December 31, 2015 Percent of Credit Losses Three Months Ended Percentage of Portfolio Serious Delinquency Rate Percentage of Portfolio Serious Delinquency Rate March 31, 2016 March 31, 2015 Book of Business Core single-family book 68 % 0.19 % 66 % 0.21 % 6 % 2 % HARP and other relief refinance book 17 0.69 % 18 0.72 % 15 5 Legacy single-family book 15 3.86 % 16 4.12 % 79 93 Total 100 % 1.20 % 100 % 1.32 % 100 % 100 % Region (1) West 30 % 0.73 % 29 % 0.79 % 12 % 12 % Northeast 25 1.84 % 26 2.04 % 37 47 North Central 17 1.03 % 17 1.13 % 25 13 Southeast 16 1.41 % 16 1.57 % 21 25 Southwest 12 0.81 % 12 0.88 % 5 3 Total 100 % 1.20 % 100 % 1.32 % 100 % 100 % State (2) Illinois 5 % 1.48 % 5 % 1.62 % 10 % 7 % Florida 5 1.90 % 5 2.16 % 10 20 New York 5 2.64 % 5 2.94 % 10 15 New Jersey 4 3.42 % 4 3.90 % 9 18 California 18 0.56 % 18 0.60 % 6 4 All other 63 1.03 % 63 1.12 % 55 36 Total 100 % 1.20 % 100 % 1.32 % 100 % 100 % (1) Region designation: West (AK, AZ, CA, GU, HI, ID, MT, NV, OR, UT, WA); Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI); Southeast (AL, FL, GA, KY, MS, NC, PR, SC, TN, VI); Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY). (2) States presented based on those with the highest percentage of credit losses during the three months ended March 31, 2016 . CREDIT PERFORMANCE OF CERTAIN HIGHER RISK SINGLE-FAMILY LOAN CATEGORIES Participants in the mortgage market often characterize single-family loans based upon their overall credit quality at the time of origination, generally considering them to be prime or subprime. Many mortgage market participants classify single-family loans with credit characteristics that range between their prime and subprime categories as Alt-A. Although we discontinued new purchases of loans with lower documentation standards beginning March 1, 2009, we continued to purchase certain amounts of these loans in cases where the loan was either: • Purchased pursuant to a previously issued other mortgage-related guarantee; • Part of our relief refinance initiative; or • In another refinance loan initiative and the pre-existing loan (including Alt-A loans) was originated under less than full documentation standards. In the event we purchase a refinance loan and the original loan had been previously identified as Alt-A, such refinance loan may no longer be categorized or reported as Alt-A in the table below because the new refinance loan replacing the original loan would not be identified by the seller/servicer as an Alt-A loan. As a result, our reported Alt-A balances may be lower than would otherwise be the case had such refinancing not occurred. Although we do not categorize single-family loans we purchase or guarantee as prime or subprime, we recognize that there are a number of loan types with certain characteristics that indicate a higher degree of credit risk. For example, a borrower’s credit score is a useful measure for assessing the credit quality of the borrower. Statistically, borrowers with higher credit scores are more likely to repay or have the ability to refinance than those with lower scores. Presented below is a summary of the serious delinquency rates of certain higher-risk categories (based on characteristics of the loan at origination) of loans in our single-family credit guarantee portfolio. The table includes a presentation of each higher-risk category in isolation. A single loan may fall within more than one category (for example, an interest-only loan may also have an original LTV ratio greater than 90%). Loans with a combination of these attributes will have an even higher risk of delinquency than those with an individual attribute. Percentage of Portfolio (1) Serious Delinquency Rate (1) (Percentage of portfolio based on UPB) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Interest-only 1 % 1 % 5.55 % 6.02 % Alt-A 2 % 2 % 6.01 % 6.32 % Original LTV ratio greater than 90% (2) 16 % 16 % 1.81 % 2.01 % Lower credit scores at origination (less than 620) 2 % 2 % 6.17 % 6.67 % (1) Excludes loans underlying certain other securitization products for which data was not available. (2) Includes HARP loans, which we purchase as part of our participation in the MHA Program. SELLERS AND SERVICERS We acquire a significant portion of our single-family and multifamily loan purchase volume from several large sellers. The table below summarizes the concentration of single-family and multifamily sellers who provided 10% or more of our purchase volume. Three Months Ended March 31, 2016 March 31, 2015 Single-family Seller Wells Fargo Bank, N.A. 13 % 10 % Other top 10 sellers 35 41 Top 10 single-family sellers 48 % 51 % Multifamily Seller Berkadia Commercial Mortgage LLC 26 % 6 % CBRE Capital Markets, Inc. 19 18 Walker & Dunlop, LLC 14 17 Other top 10 sellers 29 43 Top 10 multifamily sellers 88 % 84 % In recent years, there has been a shift in our purchase volume from depository institutions to non-depository and smaller depository financial institutions. Some of these non-depository sellers have grown rapidly in recent years, and we purchase a significant share of our loans from them. Our top three non-depository sellers provided approximately 12% of our single-family purchase volume during the three months ended March 31, 2016 . Significant portions of our single-family and multifamily loans are serviced by several large servicers. The table below summarizes the concentration of single-family and multifamily servicers who serviced 10% or more of our single-family credit guarantee portfolio and our multifamily mortgage portfolio, excluding loans underlying K Certificates. March 31, 2016 December 31, 2015 Single-family Servicer Wells Fargo Bank, N.A. 20 % 20 % JP Morgan Chase Bank, N.A. 10 10 Other top 10 servicers 34 35 Top 10 single-family servicers 64 % 65 % Multifamily Servicer Berkadia Commercial Mortgage LLC 14 % 14 % Wells Fargo Bank, N.A. 13 14 CBRE Capital Markets, Inc. 13 12 Other top 10 servicers 38 36 Top 10 multifamily servicers 78 % 76 % In recent years, there has been a shift in our servicing from depository institutions to non-depository servicers. Some of these non-depository servicers have grown rapidly in recent years and now service a large share of our loans. As of both March 31, 2016 and December 31, 2015, approximately 10% of our single-family credit guarantee portfolio was serviced by our three largest non-depository servicers, on a combined basis. Several of these non-depository servicers also service a large share of the loans underlying our investments in non-agency mortgage-related securities. Ocwen Financial Corp. (Ocwen) and its subsidiaries and/or affiliates continue to be the subject of adverse regulatory scrutiny. Although we have taken steps to reduce our exposure to them, Ocwen remains one of our significant non-depository servicers. We continue to closely monitor the performance of Ocwen’s $26.0 billion servicing portfolio as of March 31, 2016 . MORTGAGE INSURERS We have institutional credit risk relating to the potential insolvency of, or non-performance by, mortgage insurers that insure single-family loans we purchase or guarantee. We evaluate the recovery and collectability from mortgage insurers as part of the estimate of our loan loss reserves. See Note 4 for additional information. As of March 31, 2016 , mortgage insurers provided coverage with maximum loss limits of $67.6 billion , for $263.4 billion of UPB, in connection with our single-family credit guarantee portfolio. These amounts are based on gross coverage without regard to netting of coverage that may exist to the extent an affected loan is covered under both primary and pool insurance. The table below summarizes the concentration of mortgage insurer counterparties who provided 10% or more of our overall mortgage insurance coverage. Mortgage Insurance Coverage Credit Rating (1) March 31, 2016 December 31, 2015 Radian Guaranty Inc. BBB- 22 % 22 % United Guaranty Residential Insurance Company BBB+ 22 23 Mortgage Guaranty Insurance Corporation BBB- 21 21 Genworth Mortgage Insurance Corporation BB+ 14 14 Total 79 % 80 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Coverage amounts may include coverage provided by consolidated affiliates and subsidiaries of the counterparty. Latest rating available as of March 31, 2016. Represents the lower of S&P and Moody’s credit ratings and outlooks stated in terms of the S&P equivalent. We received proceeds of $0.1 billion and $0.2 billion during the three months ended March 31, 2016 and March 31, 2015 , respectively, from our primary and pool mortgage insurance policies for recovery of losses on our single-family loans. We had outstanding receivables from mortgage insurers of $0.2 billion and $0.3 billion (excluding deferred payment obligations associated with unpaid claim amounts) as of March 31, 2016 and December 31, 2015, respectively. The balance of these receivables, net of associated reserves, was approximately $0.2 billion at both March 31, 2016 and December 31, 2015. PMI Mortgage Insurance Co. and Triad Guaranty Insurance Corp. are both in rehabilitation, and a substantial portion of their claims is recorded by us as deferred payment obligations. As of both March 31, 2016 and December 31, 2015, we had cumulative unpaid deferred payment obligations of $0.5 billion from these insurers. We reserved for all of these unpaid amounts as collectability is uncertain. It is not clear how the regulators of these companies will administer their respective deferred payment plans in the future, nor when or if those obligations will be paid. CASH AND OTHER INVESTMENT COUNTERPARTIES We are exposed to institutional credit risk relating to the potential insolvency of, or the non-performance by, counterparties relating to cash and other investments (including non-mortgage-related investments and cash equivalents) transactions, including those entered into on behalf of our securitization trusts. Our policies require that the issuer be rated as investment grade at the time the financial instrument is purchased. We base the permitted term and dollar limits for each of these transactions on the counterparty's financial strength in order to further mitigate our risk. Our cash and other investments (including non-mortgage-related investments and cash equivalents) counterparties are primarily major financial institutions, Treasury, and the Federal Reserve Bank of New York. As of March 31, 2016 and December 31, 2015, including amounts related to our consolidated VIEs, there were $62.9 billion and $83.8 billion , respectively, of cash and securities purchased under agreements to resell invested with institutional counterparties, Treasury securities classified as cash equivalents, or cash deposited with the Federal Reserve Bank of New York. As of March 31, 2016 , all of our securities purchased under agreements to resell were fully collateralized. NON-AGENCY MORTGAGE-RELATED SECURITY ISSUERS We are engaged in various loss mitigation efforts concerning certain investments in non-agency mortgage-related securities. In 2011, FHFA, as Conservator for Freddie Mac and Fannie Mae, filed lawsuits against a number of corporate families of financial institutions and related defendants alleging securities laws violations and, in some cases, fraud. In March 2015, FHFA’s case against Nomura Holding America, Inc. (or Nomura) went to trial in the U.S. District Court for the Southern District of New York. The trial was completed in April 2015. In May 2015, the judge ruled against Nomura and co-defendant RBS Securities Inc. and ordered the defendants to pay an aggregate of $806 million , of which $779 million will be paid to Freddie Mac. The order also provides for Freddie Mac to transfer the mortgage-related securities at issue in this trial to the defendants. The defendants have agreed to pay for certain costs, legal fees and expenses if FHFA prevails in the litigation. This expense reimbursement payment is subject to various conditions, and is capped at $33 million (half of any such payment would be made to Freddie Mac). The defendants have filed a notice of appeal and the Court has stayed enforcement of the judgment during the pendency of the appeal. We have been working with an investor consortium that seeks to enforce certain claims relating to certain Countrywide non-agency mortgage-related securities. In June 2011, Bank of America Corporation, BAC Home Loans Servicing, LP, Countrywide Financial Corporation and Countrywide Home Loans, Inc. entered into a settlement agreement with The Bank of New York Mellon, as trustee, to resolve certain claims with respect to a number of Countrywide mortgage securitization trusts. In January 2014, a New York state court approved a significant portion of the settlement. In March 2015, a New York intermediate appellate court upheld the settlement in full. The conditions to the settlement have been satisfied. On February 5, 2016, the trustee filed a petition in New York state court seeking the court's resolution of a dispute among the investors over the proper allocation of the settlement proceeds through certain trusts covered by the agreement. As a result of this action, it is uncertain when the trustee will distribute the settlement funds to the trusts. We have also been working with an investor consortium that seeks to enforce certain claims relating to certain Citigroup non-agency mortgage-related securities. In April 2014, Citigroup Inc. entered into a settlement agreement with the trustees of the securities covered by the settlement. In December 2015, a New York state court entered a judgment approving the settlement in all respects. The order became final in January 2016. It is likely that the conditions of the settlement will be fully satisfied in the near term. As a result, we expect to receive a benefit for those securitizations that we hold at the time of such distributions. This benefit, which is expected to be approximately $0.1 billion , will be reflected in earnings recognized over the expected life of the securities. We have also been working with an investor consortium that seeks to enforce certain claims with J.P. Morgan Chase & Co. relating to a number of mortgage securitization trusts. In October 2014, the trustees of the securitizations filed suit in New York state court seeking approval of the settlement. If the settlement is approved, we would expect to receive a benefit from the settlement for those covered securitizations that we hold at the time settlement proceeds are distributed to the trusts. It is not possible to predict the timing or ultimate outcome of the approval process for this settlement, which could take substantial time. The majority of the single-family loans underlying our investments in non-agency mortgage-related securities are serviced by non-depository servicers. As of both March 31, 2016 and December 31, 2015, approximately $13.0 billion in UPB of loans underlying our investments in single-family non-agency mortgage-related securities were serviced by subsidiaries and/or affiliates of Ocwen.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURE The accounting guidance for fair value measurements and disclosures defines fair value, establishes a framework for measuring fair value, and sets forth disclosure requirements regarding fair value measurements. This guidance applies whenever other accounting guidance requires or permits assets or liabilities to be measured at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or, in the absence of a principal market, in the most advantageous market for the asset or liability. We use fair value measurements for the initial recording of certain assets and liabilities and periodic remeasurement of certain assets and liabilities on a recurring or non-recurring basis. FAIR VALUE MEASUREMENTS The accounting guidance for fair value measurements and disclosures establishes a three-level fair value hierarchy that prioritizes the inputs into the valuation techniques used to measure fair value. The levels of the fair value hierarchy are defined as follows in priority order: • Level 1 - inputs to the valuation techniques are based on quoted prices in active markets for identical assets or liabilities. • Level 2 - inputs to the valuation techniques are based on observable inputs other than quoted prices in active markets for identical assets or liabilities. • Level 3 - one or more inputs to the valuation technique are unobservable and significant to the fair value measurement We use quoted market prices and valuation techniques that seek to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs. Our inputs are based on the assumptions a market participant would use in valuing the asset or liability. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. VALUATION PROCESSES AND CONTROLS OVER FAIR VALUE MEASUREMENTS We designed our control processes so that our fair value measurements are appropriate and reliable, that they are based on observable inputs where possible, and that our valuation approaches are consistently applied and the assumptions and inputs are reasonable. Our control processes provide a framework for segregation of duties and oversight of our fair value methodologies, techniques, validation procedures, and results. VALUATION TECHNIQUES HARP Loans For loans that have been refinanced under HARP, we value our guarantee obligation using the management and guarantee fees currently charged by us under that initiative. HARP loans valued using this technique are classified as Level 2, as the fees charged by us are observable. The majority of our HARP loans are classified as Level 2. If, subsequent to delivery, the refinanced loan no longer qualifies for purchase based on current underwriting standards (such as becoming past due or being modified), the fair value of the guarantee obligation is then measured using our internal credit models or the median of external sources, if the loan’s principal market has changed to the whole loan market. HARP loans valued using either of these techniques are classified as Level 3 as significant inputs are unobservable. The total compensation that we receive for the delivery of a HARP loan reflects the pricing that we are willing to offer because HARP is a part of a broader government program intended to provide assistance to homeowners and prevent foreclosures. When HARP ends in December 2016, the beneficial pricing afforded to HARP loans will no longer be reflected in the pricing structure of our management and guarantee fees. If these benefits were not reflected in the pricing for these loans, the fair value of our loans would have decreased by $10.6 billion and $12.9 billion as of March 31, 2016 and December 31, 2015 , respectively. The total fair value of the loans in our portfolio that reflect the pricing afforded to HARP loans as of March 31, 2016 and December 31, 2015 is $76.4 billion and $82.8 billion , respectively. ASSETS AND LIABILITIES ON OUR CONSOLIDATED BALANCE SHEETS MEASURED AT FAIR VALUE ON A RECURRING BASIS The following tables present our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis subsequent to initial recognition, including instruments where we have elected the fair value option. March 31, 2016 (in millions) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Assets: Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $ — $ 29,906 $ 4,369 $ — $ 34,275 Fannie Mae — 6,763 84 — 6,847 Ginnie Mae — 154 1 — 155 CMBS — 6,440 3,627 — 10,067 Subprime — — 11,947 — 11,947 Option ARM — — 3,325 — 3,325 Alt-A and other — — 2,940 — 2,940 Obligations of states and political subdivisions — — 1,012 — 1,012 Manufactured housing — — 556 — 556 Total available-for-sale securities, at fair value — 43,263 27,861 — 71,124 Trading, at fair value: Mortgage-related securities: Freddie Mac — 14,648 123 — 14,771 Fannie Mae — 6,153 29 — 6,182 Ginnie Mae — 144 — — 144 Other — 135 1 — 136 Total mortgage-related securities — 21,080 153 — 21,233 Non-mortgage-related securities 15,238 — — — 15,238 Total trading securities, at fair value 15,238 21,080 153 — 36,471 Total investments in securities 15,238 64,343 28,014 — 107,595 Mortgage loans: Held-for-sale, at fair value — 22,415 — — 22,415 Derivative assets, net: Interest-rate swaps — 7,295 — — 7,295 Option-based derivatives — 6,661 — — 6,661 Other — 125 23 — 148 Subtotal, before netting adjustments — 14,081 23 — 14,104 Netting adjustments (1) — — — (13,290 ) (13,290 ) Total derivative assets, net — 14,081 23 (13,290 ) 814 Other assets: Guarantee asset, at fair value — — 1,894 — 1,894 Non-derivative held-for-sale purchase commitments, at fair value — 74 — — 74 Total other assets — 74 1,894 — 1,968 Total assets carried at fair value on a recurring basis $ 15,238 $ 100,913 $ 29,931 $ (13,290 ) $ 132,792 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $ — $ 122 $ — $ — $ 122 Other debt, at fair value — 6,793 — — 6,793 Derivative liabilities, net: Interest-rate swaps — 20,049 — — 20,049 Option-based derivatives — 156 — — 156 Other — 170 34 — 204 Subtotal, before netting adjustments — 20,375 34 — 20,409 Netting adjustments (1) — — — (18,777 ) (18,777 ) Total derivative liabilities, net — 20,375 34 (18,777 ) 1,632 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 24 — — 24 All other, at fair value — — 8 — 8 Total other liabilities — 24 8 — 32 Total liabilities carried at fair value on a recurring basis $ — $ 27,314 $ 42 $ (18,777 ) $ 8,579 December 31, 2015 (in millions) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Assets: Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $ — $ 30,919 $ 2,608 $ — $ 33,527 Fannie Mae — 7,172 90 — 7,262 Ginnie Mae — 161 1 — 162 CMBS — 8,918 3,530 — 12,448 Subprime — — 12,802 — 12,802 Option ARM — — 3,678 — 3,678 Alt-A and other — — 3,278 — 3,278 Obligations of states and political subdivisions — — 1,205 — 1,205 Manufactured housing — — 575 — 575 Total available-for-sale securities, at fair value — 47,170 27,767 — 74,937 Trading, at fair value: Mortgage-related securities: Freddie Mac — 15,182 331 — 15,513 Fannie Mae — 6,397 41 — 6,438 Ginnie Mae — 30 — — 30 Other — 144 2 — 146 Total mortgage-related securities — 21,753 374 — 22,127 Non-mortgage-related securities 17,151 — — — 17,151 Total trading securities, at fair value 17,151 21,753 374 — 39,278 Total investments in securities 17,151 68,923 28,141 — 114,215 Mortgage loans: Held-for-sale, at fair value — 17,660 — — 17,660 Derivative assets, net: Interest-rate swaps — 4,911 — — 4,911 Option-based derivatives — 4,821 — — 4,821 Other — 34 25 — 59 Subtotal, before netting adjustments — 9,766 25 — 9,791 Netting adjustments (1) — — — (9,396 ) (9,396 ) Total derivative assets, net — 9,766 25 (9,396 ) 395 Other assets: Guarantee asset, at fair value — — 1,753 — 1,753 Total assets carried at fair value on a recurring basis $ 17,151 $ 96,349 $ 29,919 $ (9,396 ) $ 134,023 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $ — $ 139 $ — $ — $ 139 Other debt, at fair value — 7,045 — — 7,045 Derivative liabilities, net: Interest-rate swaps — 12,222 — — 12,222 Option-based derivatives — 128 — — 128 Other — 28 33 — 61 Subtotal, before netting adjustments — 12,378 33 — 12,411 Netting adjustments (1) — — — (11,157 ) (11,157 ) Total derivative liabilities, net — 12,378 33 (11,157 ) 1,254 Other liabilities: All other, at fair value — — 10 — 10 Total liabilities carried at fair value on a recurring basis $ — $ 19,562 $ 43 $ (11,157 ) $ 8,448 (1) Represents counterparty netting, cash collateral netting and net derivative interest receivable or payable. The net cash collateral posted was $5.9 billion and $2.3 billion , respectively, at March 31, 2016 and December 31, 2015 . The net interest receivable (payable) of derivative assets and derivative liabilities was $(0.5) billion and $(0.6) billion at March 31, 2016 and December 31, 2015 , respectively, which was mainly related to interest rate swaps. ASSETS ON OUR CONSOLIDATED BALANCE SHEETS MEASURED AT FAIR VALUE ON A NON-RECURRING BASIS We may be required, from time to time, to measure certain assets at fair value on a non-recurring basis after our initial recognition. These adjustments usually result from the application of lower-of-cost-or-fair-value accounting or measurement of impairment based on the fair value of the underlying collateral. The table below presents assets measured on our consolidated balance sheets at fair value on a non-recurring basis. March 31, 2016 December 31, 2015 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets measured at fair value on a non-recurring basis: Mortgage loans (1) $ — $ 770 $ 3,729 $ 4,499 $ — $ 1,130 $ 5,851 $ 6,981 REO, net (2) — — 839 839 — — 1,046 1,046 Total assets measured at fair value on a non-recurring basis $ — $ 770 $ 4,568 $ 5,338 $ — $ 1,130 $ 6,897 $ 8,027 (1) Includes loans that are classified as held-for-investment and have been measured for impairment based on the fair value of the underlying collateral and held-for-sale loans where the fair value is below cost. Includes the correction of an error in previously reported amounts that is not material to the consolidated financial statements. (2) Represents the fair value of foreclosed properties that were measured at fair value subsequent to their initial classification as REO, net. The carrying amount of REO, net was adjusted to fair value of $0.8 billion , less estimated costs to sell of $55 million (or approximately $0.8 billion ) at March 31, 2016 . The carrying amount of REO, net was adjusted to fair value of $1.0 billion , less estimated costs to sell of $68 million (or approximately $0.9 billion ) at December 31, 2015 . LEVEL 3 FAIR VALUE MEASUREMENTS The table below presents a reconciliation of all assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3 assets and liabilities. The table also presents gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized in our consolidated statements of comprehensive income for Level 3 assets and liabilities. When assets and liabilities are transferred between levels, we recognize the transfer as of the beginning of the period. Three Months Ended March 31, 2016 Realized and unrealized gains (losses) Balance, Included in Included in Total Purchases Issues Sales Settlements, net Transfers (1) Transfers (1) Balance, Unrealized gains (losses) still held in millions Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $ 2,608 $ 14 $ 1 $ 15 $ 1,755 $ — $ (362 ) $ (89 ) $ 714 $ (272 ) $ 4,369 $ — Fannie Mae 90 — — — — — — (6 ) — — 84 — Ginnie Mae 1 — — — — — — — — — 1 — CMBS 3,530 — 88 88 17 — — (8 ) — — 3,627 — Subprime 12,802 26 (171 ) (145 ) — — (208 ) (502 ) — — 11,947 18 Option ARM 3,678 58 (88 ) (30 ) — — (182 ) (141 ) — — 3,325 28 Alt-A and other 3,278 34 (39 ) (5 ) — — (185 ) (148 ) — — 2,940 28 Obligations of states and political subdivisions 1,205 — (2 ) (2 ) — — — (191 ) — — 1,012 — Manufactured housing 575 — (4 ) (4 ) — — — (15 ) — — 556 — Total available-for-sale mortgage-related securities 27,767 132 (215 ) (83 ) 1,772 — (937 ) (1,100 ) 714 (272 ) 27,861 74 Trading, at fair value: Mortgage-related securities: Freddie Mac 331 (5 ) — (5 ) 50 11 (139 ) (2 ) 8 (131 ) 123 (2 ) Fannie Mae 41 1 — 1 — — (13 ) — — — 29 (1 ) Other 2 — — — — — — (1 ) — — 1 — Total trading mortgage-related securities 374 (4 ) — (4 ) 50 11 (152 ) (3 ) 8 (131 ) 153 (3 ) Other assets: Guarantee asset 1,753 58 — 58 142 16 — (75 ) — — 1,894 58 Realized and unrealized (gains) losses Balance, Included in earnings (1) Included in other comprehensive income (1) Total Purchases Issues Sales Settlements, net Transfers into Level 3 (2) Transfers out of Level 3 (2) Balance, Unrealized (gains) losses still held (in millions) Liabilities Net derivatives (2) $ 8 $ 18 $ — $ 18 $ — $ — $ — $ (15 ) $ — $ — $ 11 $ 3 Other liabilities: All other, at fair value 10 (2 ) — (2 ) — — — — — — 8 8 Three Months Ended March 31, 2015 Realized and unrealized gains (losses) Balance, January 1, 2015 Included in earnings Included in other comprehensive income Total Purchases Issues Sales Settlements, net Transfers into Level 3 Transfers out of Level 3 Balance, March 31, 2015 Unrealized gains (losses) still held (in millions) Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $ 4,231 $ — $ (2 ) $ (2 ) $ 1,010 $ — $ (654 ) $ 22 $ — $ (1,924 ) $ 2,683 $ — Fannie Mae 85 — 1 1 — — — (7 ) 43 (9 ) 113 — Ginnie Mae 4 — — — — — — (1 ) — — 3 — CMBS 3,474 (17 ) 101 84 — — — (6 ) — — 3,552 (17 ) Subprime 20,589 192 12 204 — — (2,892 ) (102 ) — — 17,799 (65 ) Option ARM 5,649 11 (29 ) (18 ) — — (168 ) (187 ) — — 5,276 (11 ) Alt-A and other 5,027 6 (11 ) (5 ) — — (106 ) (143 ) 15 — 4,788 (1 ) Obligations of states and political subdivisions 2,198 — (5 ) (5 ) — — — (366 ) — — 1,827 — Manufactured housing 638 — (1 ) (1 ) — — (4 ) (14 ) — — 619 — Total available-for-sale mortgage-related securities 41,895 192 66 258 1,010 — (3,824 ) (804 ) 58 (1,933 ) 36,660 (94 ) Trading, at fair value: Mortgage-related securities: Freddie Mac 927 2 — 2 44 128 (5 ) (10 ) 34 (609 ) 511 2 Fannie Mae 232 2 — 2 — — (2 ) (2 ) 6 (97 ) 139 2 Ginnie Mae 1 — — — — — (1 ) — — — — — Other 4 4 — 4 — — (4 ) — — — 4 — Total trading mortgage-related securities 1,164 8 — 8 44 128 (12 ) (12 ) 40 (706 ) 654 4 Other assets: Guarantee asset 1,626 (15 ) — (15 ) — 93 — (135 ) — — 1,569 (15 ) All other, at fair value 5 1 — 1 — — — — — — 6 1 Total other assets 1,631 (14 ) — (14 ) — 93 — (135 ) — — 1,575 (14 ) Realized and unrealized (gains) losses Balance, January 1, 2015 Included in earnings (1) Included in other comprehensive income (1) Total Purchases Issues Sales Settlements, net Transfers into Level 3 Transfers out of Level 3 Balance, Unrealized (gains) losses still held (in millions) Liabilities Net derivatives (2) $ 10 $ 25 $ — $ 25 $ — $ — $ — $ (10 ) $ — $ — $ 25 $ 15 (1) Transfers out of Level 3 during the three months ended March 31, 2016 consisted primarily of certain mortgage-related securities due to an increased volume and level of activity in the market and availability of price quotes from dealers and third-party pricing services. Freddie Mac securities are generally classified as Level 3 at issuance and generally are classified as Level 2 when they begin trading. Transfers into Level 3 during the three months ended March 31, 2016 consisted primarily of certain mortgage-related securities due to a lack of market activity and relevant price quotes from dealers and third-party pricing services. (2) Amounts are prior to counterparty netting, cash collateral netting, net trade/settle receivable or payable and net derivative interest receivable or payable. The table below provides valuation techniques, the range, and the weighted average of significant unobservable inputs for assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis using unobservable inputs (Level 3). March 31, 2016 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs (dollars in millions) Type Range Weighted Average Recurring fair value measurements Assets Investments in securities Available-for-sale, at fair value Mortgage-related securities Freddie Mac $ 3,699 Discounted cash flows OAS (38) - 491 bps 97 bps 670 Other Total Freddie Mac 4,369 Fannie Mae 36 Median of external sources 33 Single external source 15 Other Total Fannie Mae 84 Ginnie Mae 1 Discounted cash flows Total Ginnie Mae 1 CMBS 3,610 Risk Metrics Effective duration 2.90 - 10.77 years 9.32 years 17 Other Total CMBS 3,627 Subprime, option ARM, and Alt-A: Subprime 11,406 Median of external sources External pricing sources $70.2 - $74.2 $ 72.1 541 Other Total subprime 11,947 Option ARM 3,093 Median of external sources External pricing sources $64.6 - $69.5 $ 67.3 232 Other Total option ARM 3,325 Alt-A and other 2,153 Median of external sources External pricing sources $84.9 - $88.2 $ 86.7 477 Single external source External pricing source $83.8 - $83.8 $ 83.8 310 Other Total Alt-A and other 2,940 Obligations of states and political subdivisions 917 Median of external sources External pricing sources $101.5 - $101.9 $ 101.7 95 Other Total obligations of states and political subdivisions 1,012 Manufactured housing 485 Median of external sources External pricing sources $90.0 - $93.3 $ 91.5 71 Other Total manufactured housing 556 Total available-for-sale mortgage-related securities 27,861 Trading, at fair value Mortgage-related securities Freddie Mac 95 Discounted cash flows 11 Risk Metrics 17 Other Total Freddie Mac 123 Fannie Mae 29 Discounted cash flows Total Fannie Mae 29 Ginnie Mae — Other 1 Discounted cash flows Total other 1 Total trading mortgage-related securities 153 Total investments in securities $ 28,014 Other assets: Guarantee asset, at fair value $ 1,763 Discounted cash flows OAS 17 - 198 bps 58 bps 131 Other Total guarantee asset, at fair value 1,894 Liabilities Net derivatives 11 Other Total net derivatives 11 Other liabilities All other, at fair value 8 Other Total all other, at fair value 8 December 31, 2015 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs (dollars in millions) Type Range Weighted Average Recurring fair value measurements Assets Investments in securities Available-for-sale, at fair value Mortgage-related securities Freddie Mac $ 2,145 Discounted cash flows OAS (46) - 503 bps 86 bps 463 Other Total Freddie Mac 2,608 Fannie Mae 37 Median of external sources 36 Single external source 17 Other Total Fannie Mae 90 Ginnie Mae 1 Discounted cash flows Total Ginnie Mae 1 CMBS 3,530 Risk Metrics Effective duration 3.15 - 11.02 years 9.57 years Total CMBS 3,530 Subprime, option ARM, and Alt-A: Subprime 11,652 Median of external sources External pricing sources $73.2 - $77.3 $ 75.0 1,150 Other Total subprime 12,802 Option ARM 3,190 Median of external sources External pricing sources $67.8 - $72.4 $ 69.9 488 Other Total option ARM 3,678 Alt-A and other 2,601 Median of external sources External pricing sources $85.8 - $89.3 $ 87.6 506 Single external source External pricing source $84.7 - $84.7 $ 84.7 171 Other Total Alt-A and other 3,278 Obligations of states and political subdivisions 1,099 Median of external sources External pricing sources $101.4 - $101.8 $ 101.6 106 Other Total obligations of states and political subdivisions 1,205 Manufactured housing 505 Median of external sources External pricing sources $90.4 - $93.7 $ 92.1 70 Other Total manufactured housing 575 Total available-for-sale mortgage-related securities 27,767 Trading, at fair value Mortgage-related securities Freddie Mac 249 Discounted cash flows OAS (1,315) - 1,959 bps 129 bps 19 Risk Metrics 63 Other Total Freddie Mac 331 Fannie Mae 41 Discounted cash flows Total Fannie Mae 41 Ginnie Mae — Other 1 Median of external sources 1 Discounted cash flows Total other 2 Total trading mortgage-related securities 374 Total investments in securities $ 28,141 Other assets: Guarantee asset, at fair value $ 1,623 Discounted cash flows OAS 17 - 198 bps 57 bps 130 Other Total guarantee asset, at fair value 1,753 Liabilities Net derivatives 8 Other Total net derivatives 8 Other liabilities All other, at fair value 10 Other Total all other, at fair value 10 The table below provides valuation techniques, the range, and the weighted average of significant unobservable inputs for assets and liabilities measured on our consolidated balance sheets at fair value on a non-recurring basis using unobservable inputs (Level 3). Certain of the fair values in the table below were not obtained as of the period end, but were obtained during the period. March 31, 2016 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs (dollars in millions) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $ 3,729 Internal model Historical sales $3,000 - $788,699 $191,075 Internal model Housing sales index 41 - 470 bps 91 bps Third-party appraisal Property value $1 million - $30 million $28 million Income capitalization (1) Capitalization rates 6% - 9% 6% Median of external sources External pricing sources $38.1 - $94.1 $69.4 REO, net $ 839 Internal model Historical sales proceeds $3,000 - $677,440 $154,037 Internal model Housing sales index 43 - 470 bps 88 bps Other December 31, 2015 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs (dollars in millions) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $ 5,851 Internal model Historical sales $3,000 - $788,699 $191,957 Internal model Housing sales index 44 - 428 bps 90 bps Third-party appraisal Property value $1 million - $30 million $28 million Income capitalization (1) Capitalization rates 6%- 9% 7% Median of external sources External pricing sources $39.0 - $94.6 $70.0 REO, net $ 1,046 Internal model Historical sales proceeds $3,000 - $581,751 $155,885 Internal model Housing sales index 44 - 428 bps 87 bps Other (1) The predominant valuation technique used for multifamily loans. Certain loans in this population are valued using other techniques, and the capitalization rate for those is not represented in the “Range” or “Weighted Average” above. FAIR VALUE OF FINANCIAL INSTRUMENTS The table below presents the carrying value and estimated fair value of our financial instruments. For certain types of financial instruments, such as cash and cash equivalents, restricted cash and cash equivalents, securities purchased under agreements to resell, and advances to lenders, the carrying value on our GAAP balance sheets approximates fair value, and these assets are short-term in nature and have limited market value volatility. March 31, 2016 Fair Value (in millions) GAAP Carrying Amount Level 1 Level 2 Level 3 Netting Adjustments Total Financial Assets Cash and cash equivalents $ 6,158 $ 6,158 $ — $ — $ — $ 6,158 Restricted cash and cash equivalents 16,671 16,671 — — — 16,671 Securities purchased under agreements to resell 40,098 — 40,098 — — 40,098 Investments in securities: Available-for-sale, at fair value 71,124 — 43,263 27,861 — 71,124 Trading, at fair value 36,471 15,238 21,080 153 — 36,471 Total investments in securities 107,595 15,238 64,343 28,014 — 107,595 Mortgage loans: Loans held by consolidated trusts 1,635,242 — 1,517,455 155,576 — 1,673,031 Loans held by Freddie Mac 127,391 — 37,180 91,380 — 128,560 Total mortgage loans 1,762,633 — 1,554,635 246,956 — 1,801,591 Derivative assets, net 814 — 14,081 23 (13,290 ) 814 Guarantee asset 1,894 — — 2,104 — 2,104 Non-derivative purchase commitments, at fair value 74 — 106 8 — 114 Advances to lenders 680 — — 680 — 680 Total financial assets $ 1,936,617 $ 38,067 $ 1,673,263 $ 277,785 $ (13,290 ) $ 1,975,825 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $ 1,568,183 $ — $ 1,656,668 $ 3,516 $ — $ 1,660,184 Other debt 387,435 — 388,906 5,950 — 394,856 Total debt, net 1,955,618 — 2,045,574 9,466 — 2,055,040 Derivative liabilities, net 1,632 — 20,375 34 (18,777 ) 1,632 Guarantee obligation 1,808 — — 3,303 — 3,303 Non-derivative purchase commitments, at fair value 24 — 29 28 — 57 Total financial liabilities $ 1,959,082 $ — $ 2,065,978 $ 12,831 $ (18,777 ) $ 2,060,032 December 31, 2015 Fair Value (in millions) GAAP Carrying Amount Level 1 Level 2 Level 3 Netting Adjustments Total Financial Assets Cash and cash equivalents $ 5,595 $ 5,595 $ — $ — $ — $ 5,595 Restricted cash and cash equivalents 14,533 14,533 — — — 14,533 Securities purchased under agreements to resell 63,644 — 63,644 — — 63,644 Investments in securities: Available-for-sale, at fair value 74,937 — 47,170 27,767 — 74,937 Trading, at fair value 39,278 17,151 21,753 374 — 39,278 Total investments in securities 114,215 17,151 68,923 28,141 — 114,215 Mortgage loans: Loans held by consolidated trusts 1,625,184 — 1,477,251 162,947 — 1,640,198 Loans held by Freddie Mac 129,009 — 31,831 97,133 — 128,964 Total mortgage loans 1,754,193 — 1,509,082 260,080 — 1,769,162 Derivative assets, net 395 — 9,766 25 (9,396 ) 395 Guarantee asset 1,753 — — 1,958 — 1,958 Advances to lenders 910 — 910 — — 910 Total financial assets $ 1,955,238 $ 37,279 $ 1,652,325 $ 290,204 $ (9,396 ) $ 1,970,412 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $ 1,556,121 $ — $ 1,624,019 $ 805 $ — $ 1,624,824 Other debt 414,306 — 412,752 6,586 — 419,338 Total debt, net 1,970,427 — 2,036,771 7,391 — 2,044,162 Derivative liabilities, net 1,254 — 12,378 33 (11,157 ) 1,254 Guarantee obligation 1,729 — — 3,129 — 3,129 Total financial liabilities $ 1,973,410 $ — $ 2,049,149 $ 10,553 $ (11,157 ) $ 2,048,545 FAIR VALUE OPTION We elected the fair value option for certain types of investments in securities, multifamily held-for-sale loans, certain multifamily held-for-sale loan purchase commitments, and certain debt. The table below presents the fair value and UPB related to certain items for which we have elected the fair value option. March 31, 2016 December 31, 2015 (in millions) Multifamily Held-For-Sale Loans Other Debt - Long Term Multifamily Held-For-Sale Loans Other Debt - Long Term Fair value $ 22,415 $ 6,793 $ 17,660 $ 7,045 Unpaid principal balance 21,995 6,842 17,673 7,093 Difference $ 420 $ (49 ) $ (13 ) $ (48 ) Changes in Fair Value under the Fair Value Option Election We recorded gains (losses) of $0.5 billion and $0.4 billion for the three months ended March 31, 2016 and March 31, 2015, respectively, from the change in fair value on multifamily held-for-sale loans recorded at fair value in other income in our condensed consolidated statements of comprehensive income. We recorded gains (losses) of $38 million for the three months ended March 31, 2016 from the change in fair value of multifamily held-for-sale loan purchase commitments recorded at fair value in other income in our condensed consolidated statements of comprehensive income. Gains (losses) on debt securities with the fair value option elected were $13 million and $(189) million for the three months ended March 31, 2016 and March 31, 2015, respectively, and were recorded in other income in our condensed consolidated statements of comprehensive income. Changes in fair value attributable to instrument-specific credit risk were not material for the three months ended March 31, 2016 and March 31, 2015 for any assets or liabilities for which we elected the fair value option.

Legal Contingencies

Legal Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
LEGAL CONTINGENCIES	LEGAL CONTINGENCIES We are involved as a party in a variety of legal and regulatory proceedings arising from time to time in the ordinary course of business including, among other things, contractual disputes, personal injury claims, employment-related litigation and other legal proceedings incidental to our business. We are frequently involved, directly or indirectly, in litigation involving mortgage foreclosures. From time to time, we are also involved in proceedings arising from our termination of a seller/servicer’s eligibility to sell loans to, and/or service loans for, us. In these cases, the former seller/servicer sometimes seeks damages against us for wrongful termination under a variety of legal theories. In addition, we are sometimes sued in connection with the origination or servicing of loans. These suits typically involve claims alleging wrongful actions of seller/servicers. Our contracts with our seller/servicers generally provide for indemnification of Freddie Mac against liability arising from seller/servicers' wrongful actions with respect to loans sold to or serviced for Freddie Mac. Litigation and claims resolution are subject to many uncertainties and are not susceptible to accurate prediction. In accordance with the accounting guidance for contingencies, we reserve for litigation claims and assessments asserted or threatened against us when a loss is probable (as defined in such guidance) and the amount of the loss can be reasonably estimated. LITIGATION RELATED TO THE TAYLOR, BEAN & WHITAKER (TBW) BANKRUPTCY In August 2009, TBW, which had been one of our single-family seller/servicers, filed for bankruptcy in the U.S. Bankruptcy Court for the Middle District of Florida. We entered into a settlement with TBW and the TBW creditors' committee regarding the TBW bankruptcy in 2011. However, we continue to be involved in litigation with other parties relating to the TBW bankruptcy, as described below. On or about May 14, 2010, certain underwriters at Lloyds, London and London Market Insurance Companies brought an adversary proceeding in the U.S. Bankruptcy Court for the Middle District of Florida against TBW, Freddie Mac and other parties seeking a declaration rescinding $90 million of mortgage bankers bonds providing fidelity and errors and omissions insurance coverage. Several excess insurers on the bonds thereafter filed similar claims in that action. Freddie Mac filed a proof of loss under the bonds. The underwriters moved for partial summary judgment against Freddie Mac in April 2013. The Court denied this motion in March 2014, and the underwriters subsequently appealed the denial of the motion to the U.S. District Court. Numerous additional motions for summary judgment filed by the parties, including by Freddie Mac, are pending. In February 2015, the Court granted summary judgment against TBW on its claims. Freddie Mac has moved for a clarification that the Court’s judgment does not apply to Freddie Mac’s separate claims against Lloyds. In September 2015, TBW advised the Court that a settlement had been reached. In March 2016, the settlement agreement was submitted to the Court for approval. On April 25, 2016, the Court approved the settlement. The Court’s order remains subject to potential appeal, and is therefore not yet final. On December 29, 2014, Freddie Mac filed an action in the U.S. District Court for the Southern District of New York against certain underwriters at Lloyds, London and several other insurance carriers seeking coverage for $111 million in losses under Freddie Mac’s primary and excess financial institution bonds. The losses resulted from fraud perpetrated by senior officers and employees of TBW. On April 11, 2016, the parties advised the Court that a settlement in principle among Freddie Mac and almost all of the insurance carriers had been reached. The settlement is subject to necessary approvals and documentation, which are now proceeding. LIBOR LAWSUIT On March 14, 2013, Freddie Mac filed a lawsuit in the U.S. District Court for the Eastern District of Virginia against the British Bankers Association and the 16 U.S. Dollar LIBOR panel banks and a number of their affiliates. The case was subsequently transferred to the U.S. District Court for the Southern District of New York. The complaint alleges, among other things, that the defendants fraudulently and collusively depressed LIBOR, a benchmark interest rate indexed to trillions of dollars of financial products, and asserts claims for antitrust violations, breach of contract, tortious interference with contract and fraud. Freddie Mac filed an amended complaint in July 2013, and a second amended complaint in October 2014. The defendants moved to dismiss the second amended complaint; Freddie Mac opposed this motion. In August 2015, the Court dismissed the portion of our claim related to antitrust violations and fraud and we filed a motion for reconsideration. On March 31, 2016, the Court granted a portion of our motion, finding personal jurisdiction over certain defendants, and denied the portion of our motion with respect to statutes of limitation for our fraud claims. LITIGATION CONCERNING THE PURCHASE AGREEMENT Since July 2013, a number of lawsuits have been filed against us concerning the August 2012 amendment to the Purchase Agreement, which created the net worth sweep dividend provisions of the senior preferred stock. The plaintiffs in the lawsuits allege that they are holders of common stock and/or junior preferred stock issued by Freddie Mac and Fannie Mae. (For purposes of this discussion, junior preferred stock refers to the various series of preferred stock of Freddie Mac and Fannie Mae other than the senior preferred stock issued to Treasury.) It is possible that similar lawsuits will be filed in the future. The lawsuits against us are described below. Litigation in the U.S. District Court for the District of Columbia In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations . This case is the result of the consolidation of three putative class action lawsuits: Cacciapelle and Bareiss vs. Federal National Mortgage Association, Federal Home Loan Mortgage Corporation and FHFA , filed on July 29, 2013; American European Insurance Company vs. Federal National Mortgage Association, Federal Home Loan Mortgage Corporation and FHFA , filed on July 30, 2013; and Marneu Holdings, Co. vs. FHFA, Treasury, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation , filed on September 18, 2013. (The Marneu case was also filed as a shareholder derivative lawsuit.) A consolidated amended complaint was filed in December 2013. In the consolidated amended complaint, plaintiffs allege, among other items, that the August 2012 amendment to the Purchase Agreement breached Freddie Mac's and Fannie Mae's respective contracts with the holders of junior preferred stock and common stock and the covenant of good faith and fair dealing inherent in such contracts. Plaintiffs sought unspecified damages, equitable and injunctive relief, and costs and expenses, including attorney and expert fees. The Cacciapelle and American European Insurance Company lawsuits were filed purportedly on behalf of a class of purchasers of junior preferred stock issued by Freddie Mac or Fannie Mae who held stock prior to, and as of, August 17, 2012. The Marneu lawsuit was filed purportedly on behalf of a class of purchasers of junior preferred stock and purchasers of common stock issued by Freddie Mac or Fannie Mae over a not-yet-defined period of time. Arrowood Indemnity Company vs. Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, FHFA and Treasury . This case was filed on September 20, 2013. The allegations and demands made by plaintiffs in this case were generally similar to those made by the plaintiffs in the In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations case described above. Plaintiffs in the Arrowood lawsuit also requested that, if injunctive relief were not granted, the Arrowood plaintiffs be awarded damages against the defendants in an amount to be determined including, but not limited to, the aggregate par value of their junior preferred stock, the total of which they stated to be approximately $42 million . American European Insurance Company, Cacciapalle and Miller vs. Treasury and FHFA . This case was filed as a shareholder derivative lawsuit, purportedly on behalf of Freddie Mac as a “nominal” defendant, on July 30, 2014. The complaint alleged that, through the August 2012 amendment to the Purchase Agreement, Treasury and FHFA breached their respective fiduciary duties to Freddie Mac, causing Freddie Mac to suffer damages. The plaintiffs asked that Freddie Mac be awarded compensatory damages and disgorgement, as well as attorneys’ fees, costs and other expenses. FHFA, joined by Freddie Mac and Fannie Mae, moved to dismiss the In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations case and the other related cases in January 2014. Treasury filed a motion to dismiss the same day. In September 2014, the District Court granted the motions and dismissed the plaintiffs’ claims. In October 2014, plaintiffs in the In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations case filed a notice of appeal of the District Court’s decision. The scope of this appeal includes the American European Insurance Company shareholder derivative lawsuit. In October 2014, Arrowood filed a notice of appeal of the District Court’s decision. Defendants have opposed the appeals. Litigation in the U.S. Court of Federal Claims Reid and Fisher vs. the United States of America and Federal Home Loan Mortgage Corporation. This case was filed as a derivative lawsuit, purportedly on behalf of Freddie Mac as a “nominal” defendant, on February 26, 2014. The complaint alleges, among other items, that the net worth sweep dividend provisions of the senior preferred stock constitute an unlawful taking of private property for public use without just compensation. The plaintiffs ask that Freddie Mac be awarded just compensation for the U.S. government’s alleged taking of its property, attorneys’ fees, costs and other expenses. Rafter, Rattien and Pershing Square Capital Management vs. the United States of America et al. This case was filed as a shareholder derivative lawsuit, purportedly on behalf of Freddie Mac as a “nominal” defendant, on August 14, 2014. The complaint alleges that the net worth sweep dividend provisions of the senior preferred stock constitute an unlawful taking of private property for public use without just compensation, and the U.S government breached an implied-in-fact contract with Freddie Mac. In September 2015, plaintiffs filed an amended complaint, which contains one claim involving Freddie Mac. The amended complaint alleges that Freddie Mac’s charter is a contract with its common stockholders, and that, through the August 2012 amendment to the Purchase Agreement, the U.S. government breached the implied covenant of good faith and fair dealing inherent in such contract. Plaintiffs ask that they be awarded damages or other appropriate relief for the alleged breach of contract as well as attorneys’ fees, costs and expenses . Litigation in the U.S. District Court for the District of Delaware Jacobs and Hindes vs. FHFA and Treasury. This case was filed on August 17, 2015 as a putative class action lawsuit purportedly on behalf of a class of holders of preferred stock or common stock issued by Freddie Mac or Fannie Mae. The case was also filed as a shareholder derivative lawsuit, purportedly on behalf of Freddie Mac and Fannie Mae as “nominal” defendants. The complaint alleges, among other items, that the August 2012 amendment to the Purchase Agreement violated applicable state law and constituted a breach of contract, as well as a breach of covenants of good faith and fair dealing. Plaintiffs seek equitable and injunctive relief (including restitution of the monies paid by Freddie Mac and Fannie Mae to Treasury under the net worth sweep dividend), compensatory damages, attorneys’ fees, costs and expenses. In March 2016, FHFA filed a motion with the U.S. Judicial Panel on Multidistrict Litigation to transfer this case to the U.S. District Court for the District of Columbia. The Delaware Court has stayed this case pending resolution of FHFA's motion. Litigation in the U.S. District Court for the Eastern District of Virginia Pagliara vs. Federal Home Loan Mortgage Corporation . This case was filed on March 14, 2016 in the Circuit Court of Fairfax County, Virginia, and subsequently removed to the U.S. District Court for the Eastern District of Virginia. The plaintiff seeks an order to permit inspection and copying of corporate records under Virginia law, primarily for the purpose of investigating potential claims arising from the net worth sweep. In March 2016, FHFA filed a motion with the U.S. Judicial Panel on Multidistrict Litigation to transfer this case to the U.S. District Court for the District of Columbia. As discussed below, the plaintiff sent a letter to the Board related to this issue in January 2016. At present, it is not possible for us to predict the probable outcome of the lawsuits discussed above in the U.S. District Courts and the U.S. Court of Federal Claims (including the outcome of any appeal) or any potential effect on our business, financial condition, liquidity, or results of operations. In addition, we are unable to reasonably estimate the possible loss or range of possible loss in the event of an adverse judgment in the foregoing matters due to a number of factors, including the inherent uncertainty of pre-trial litigation. In addition, with respect to the In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations case, the plaintiffs have not demanded a stated amount of damages they believe are due, and the Court has not certified a class. Stockholder Letters We received two letters dated January 19, 2016 addressed to the Board of Directors, each purportedly on behalf of the same holder of stock of Freddie Mac. The first letter urged the members of the Board to take various steps under Virginia law including, among others, causing Freddie Mac to immediately stop paying dividends to Treasury on account of the senior preferred stock. The second letter demanded inspection of various books and records of Freddie Mac, including Board materials and accounting records. On January 28, 2016, FHFA (as Conservator) informed the purported stockholder’s representative that the state law principles asserted in the first letter are not applicable to the Board and that the stockholder has no basis upon which to demand inspection of Freddie Mac’s records. As discussed above, the purported stockholder filed a lawsuit against Freddie Mac in March 2016 related to the demand to inspect corporate records. We also received a letter dated March 1, 2016 addressed to the Board of Directors from a purported holder of preferred stock of Freddie Mac. In the letter, the purported stockholder states that he intends to file suit against the Board and the company for alleged breaches of contract and fiduciary duty in the event the Board does not take unspecified steps “with respect to payment of dividends and other matters” involving the company and its preferred shareholders. On March 10, 2016, FHFA (as Conservator) informed the purported stockholder that the state law principles asserted in the letter are not applicable to the Board. On about April 19, 2016, the purported stockholder sent a second letter in which he reiterated his intent to file suit and attached a proposed class action complaint naming the company and the Board as defendants. The proposed complaint asserts claims for breach of contract, breach of implied covenants of good faith and fair dealing, and breach of fiduciary duties and seeks $14.1 billion in compensatory damages.

Regulatory Capital

Regulatory Capital	3 Months Ended
	Mar. 31, 2016
Mortgage Banking [Abstract]
REGULATORY CAPITAL	REGULATORY CAPITAL In October 2008, FHFA announced that it was suspending capital classification of us during conservatorship in light of the Purchase Agreement. FHFA continues to monitor our capital levels, but the existing statutory and FHFA-directed regulatory capital requirements are not binding during conservatorship. We continue to provide quarterly submissions to FHFA on minimum capital. The table below summarizes our minimum capital requirements and deficits and net worth. (in millions) March 31, 2016 December 31, 2015 GAAP net worth $ 1,000 $ 2,940 Core capital (deficit) (1)(2) $ (72,643 ) $ (70,549 ) Less: Minimum capital requirement (1) 19,057 19,687 Minimum capital surplus (deficit) (1) $ (91,700 ) $ (90,236 ) (1) Core capital and minimum capital figures are estimates and represent amounts submitted to FHFA. FHFA is the authoritative source for our regulatory capital. (2) Core capital excludes certain components of GAAP total equity (i.e., AOCI and the liquidation preference of the senior preferred stock) as these items do not meet the statutory definition of core capital.

Selected Financial Statement Li

Selected Financial Statement Line Items	3 Months Ended
	Mar. 31, 2016
Selected Financial Statement Data [Abstract]
Selected Financial Statement Line Items	SELECTED FINANCIAL STATEMENT LINE ITEMS The table below presents the significant components of other income (loss) and other expense on our consolidated statements of comprehensive income. Three Months Ended March 31, (in millions) 2016 2015 Other income (loss): Gains (losses) on loans $ 478 $ (200 ) Gains (losses) on debt recorded at fair value 13 (189 ) Other 456 400 Total other income (loss) $ 947 $ 11 Other expense: Property tax and insurance expense on held-for-sale loans $ (27 ) $ (360 ) Other expense (126 ) (103 ) Total other expense $ (153 ) $ (463 ) The table below presents the significant components of other assets and other liabilities on our consolidated balance sheets. Previously reported amounts have been revised to conform to the current presentation to reflect our adoption of ASU 2015-03. (in millions) March 31, 2016 December 31, 2015 Other assets: Accounts and other receivables (1) $ 4,960 $ 3,625 Current income tax receivable 753 26 Guarantee asset 1,894 1,753 Advances to lenders 680 910 Fixed assets 526 502 All other 533 497 Total other assets $ 9,346 $ 7,313 Other liabilities: Servicer liabilities $ 1,071 $ 1,191 Guarantee obligation 1,808 1,729 Accounts payable and accrued expenses 1,159 1,286 All other 765 1,040 Total other liabilities $ 4,803 $ 5,246 (1) Primarily consists of servicer receivables and other non-interest receivables.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and include our accounts as well as the accounts of other entities in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated. We are operating under the basis that we will realize assets and satisfy liabilities in the normal course of business as a going concern and in accordance with the delegation of authority from FHFA to our Board of Directors and management. Certain amounts in prior periods’ consolidated financial statements have been reclassified to conform to the current presentation. In the opinion of management, all adjustments, which include only normal recurring adjustments, have been recorded for a fair presentation of our unaudited condensed consolidated financial statements.
Use of Estimates	USE OF ESTIMATES The preparation of financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses, gains, and losses during the reporting period. Management has made significant estimates in preparing the financial statements for establishing the allowance for loan losses and reserve for guarantee losses, and valuing financial instruments and other assets and liabilities. Actual results could be different from these estimates.
Recently Adopted or Issued Accounting Guidance	RECENTLY ISSUED ACCOUNTING GUIDANCE Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Consolidated Financial Statements ASU 2015-02, Amendments to the Consolidation Analysis (Topic 810) The amendment affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. January 1, 2016 The adoption of this amendment did not have a material effect on our consolidated financial statements. ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) The amendment requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. January 1, 2016 Previously reported amounts have been conformed to the current presentation (see Notes 6 and 16). The effect of adoption as of January 1, 2016 and December 31, 2015 was a reduction to Other Assets and Debt, net of $158 million. There were no effects on earnings resulting from this change. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Adoption Effect on Consolidated Financial Statements ASU 2016-06, Derivatives and Hedging (Topic 815) The amendment clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. An entity performing the assessment under the amendment is required to assess the embedded call (put) options solely in accordance with the four-step decision sequence. January 1, 2017 We do not expect that the adoption of this amendment will have a material effect on our consolidated financial statements. ASU 2016-02, Leases (Topic 842) The amendment addresses the accounting for lease arrangements. January 1, 2019 We do not expect that the adoption of this amendment will have a material effect on our consolidated financial statements.
Earnings Per Common Share	EARNINGS PER SHARE We have participating securities related to options and restricted stock units with dividend equivalent rights that receive dividends as declared on an equal basis with common shares but are not obligated to participate in undistributed net losses. These participating securities consist of: • Vested options to purchase common stock; and • Vested restricted stock units that earn dividend equivalents at the same rate when and as declared on common stock. Consequently, in accordance with accounting guidance, we use the “two-class” method of computing earnings per common share. The “two-class” method is an earnings allocation formula that determines earnings per share for common stock and participating securities based on dividends declared and participation rights in undistributed earnings. Basic earnings per common share is computed as net income attributable to common stockholders divided by the weighted average common shares outstanding for the period. The weighted average common shares outstanding for the period includes the weighted average number of shares that are associated with the warrant for our common stock issued to Treasury pursuant to the Purchase Agreement. These shares are included since the warrant is unconditionally exercisable by the holder at a minimal cost. Diluted earnings per common share is computed as net income attributable to common stockholders divided by the weighted average common shares outstanding during the period adjusted for the dilutive effect of common equivalent shares outstanding. For periods with net income attributable to common stockholders, the calculation includes the effect of the following common stock equivalent shares outstanding: • Weighted average shares related to stock options if the average market price during the period exceeds the exercise price; and • The weighted-average of restricted stock units. During periods in which a net loss attributable to common stockholders has been incurred, potential common equivalent shares outstanding are not included in the calculation because it would have an antidilutive effect.
Segment Reporting	We have three reportable segments, which are based on the type of business activities each performs - Single-family Guarantee, Multifamily, and Investments.

Securitization and Guarantee 23

Securitization and Guarantee Activities (Tables)	3 Months Ended
	Mar. 31, 2016
Securitization And Guarantee Activities [Abstract]
Table - Schedule of Various Interest Entities	The table below represents the carrying value and classification of the assets and liabilities of consolidated VIEs on our consolidated balance sheets. (in millions) March 31, 2016 December 31, 2015 Consolidated Balance Sheet Line Item Assets: Restricted cash and cash equivalents $ 16,316 $ 14,529 Securities purchased under agreements to resell 17,350 14,840 Mortgage loans held-for-sale 277 1,403 Mortgage loans held-for-investment 1,635,242 1,625,184 Accrued interest receivable 5,373 5,305 Real estate owned, net 37 40 Other assets 3,743 2,591 Total assets of consolidated VIEs $ 1,678,338 $ 1,663,892 Liabilities: Accrued interest payable $ 4,760 $ 4,763 Debt, net 1,568,183 1,556,121 Other liabilities 1 6 Total liabilities of consolidated VIEs $ 1,572,944 $ 1,560,890 The following table presents the carrying amounts and classification of the assets and liabilities recorded on our consolidated balance sheets related to our variable interests in unconsolidated VIEs with which we were involved in the design and creation and have a significant continuing involvement, as well as our maximum exposure to loss. March 31, 2016 December 31, 2015 (in millions) Freddie Mac Securities Assets and Liabilities Recorded on our Consolidated Balance Sheets Assets: Investments in securities $ 49,046 $ 49,040 Accrued interest receivable 211 200 Other assets 1,371 1,232 Liabilities: Other liabilities (1,283 ) (1,230 ) Maximum Exposure to Loss $ 122,474 $ 114,193 Total Assets of Non-Consolidated VIEs $ 144,497 $ 134,900 We also obtain interests in various other VIEs created by third parties through the normal course of business, such as through our investments in non-Freddie Mac mortgage-related securities, purchases of multifamily loans, guarantees of multifamily housing revenue bonds, as a derivative counterparty, or through other activities.
Table - Financial Guarantees	The table below shows our maximum potential exposure, recognized liability, and maximum remaining term of our recognized financial guarantees to unconsolidated VIEs and other third parties. This table does not include our unrecognized financial guarantees, such as guarantees to consolidated VIEs or to resecuritization trusts that do not expose us to incremental credit risk. March 31, 2016 December 31, 2015 (dollars in millions, terms in years) Maximum Recognized (1) Maximum Remaining Term Maximum Recognized (1) Maximum Remaining Term K Certificates and other securitization products $ 122,474 $ 1,195 39 $ 114,193 $ 1,136 40 Other mortgage-related guarantees 13,784 616 35 13,067 596 38 Derivative instruments 17,729 178 29 17,894 151 30 (1) This amount excludes our reserve for guarantee losses, which totaled $74 million and $76 million as of March 31, 2016 and December 31, 2015 , respectively, and is included within other liabilities on our consolidated balance sheets.
Table - Recourse and other forms of credit protection	In connection with the securitization activities of the Multifamily segment, we have various forms of credit protection. The most prevalent type is subordination, primarily through our K Certificates. Through subordination, we mitigate our credit risk exposure by structuring our securities to sell the vast majority of expected credit losses to private investors who purchase the subordinate tranches, as shown in the table below. UPB at Maximum Coverage at (in millions) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 K Certificates $ 109,109 $ 101,473 $ 19,696 $ 18,453 Other securitization products 7,835 7,026 1,632 1,477 Total $ 116,944 $ 108,499 $ 21,328 $ 19,930 The table below presents the UPB of single-family loans on our consolidated balance sheets or underlying certain of our financial guarantees with credit protection and the maximum amounts of potential loss recovery by type of credit protection. UPB (1) at Maximum Coverage (1)(2) at (in millions) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Primary mortgage insurance $ 261,242 $ 257,063 $ 66,899 $ 65,760 STACR debt note and ACIS transactions (3) 271,291 241,450 16,842 14,916 Lender recourse and indemnifications 6,178 6,339 5,243 5,396 Pool insurance (4) 1,633 1,706 720 753 HFA indemnification 2,536 2,599 2,536 2,599 Subordination 2,920 3,021 319 336 Other credit enhancements 15 15 9 10 Total $ 545,815 $ 512,193 $ 92,568 $ 89,770 (1) Except for the majority of our single-family credit risk transfer transactions, our credit enhancements generally provide protection for the first, or initial, credit losses associated with the related loans. Excludes: (a) FHA/VA and other governmental loans; (b) credit protection associated with $8.0 billion and $8.3 billion in UPB of single-family loans underlying other securitization products as of March 31, 2016 and December 31, 2015, respectively, as the information was not available; and (c) repurchase rights (subject to certain conditions and limitations) we have under representations and warranties provided by our agreements with seller/servicers to underwrite loans and service them in accordance with our standards. The UPB of single-family loans covered by insurance or partial guarantees issued by federal agencies (such as FHA, VA and USDA) was $3.1 billion and $3.2 billion as of March 31, 2016 and December 31, 2015, respectively. (2) Except for subordination, this represents the remaining amount of loss recovery that is available subject to terms of counterparty agreements. For subordination, this represents the UPB of the securities that are subordinate to our guarantee, which could provide protection by absorbing first losses. (3) Excludes $100.8 billion and $87.4 billion in UPB at March 31, 2016 and December 31, 2015, respectively, where the related loans are also covered by primary mortgage insurance. Maximum coverage amounts presented represent the outstanding balance of STACR debt notes held by third parties as well as the remaining aggregate limit of insurance purchased from third parties in ACIS transactions. (4) Excludes approximately $0.5 billion and $0.6 billion in UPB at March 31, 2016 and December 31, 2015, respectively, where the related loans are also covered by primary mortgage insurance.

Mortgage Loans and Loan Loss 24

Mortgage Loans and Loan Loss Reserves (Tables)	3 Months Ended
	Mar. 31, 2016
Mortgage Loans on Real Estate [Abstract]
Table - Mortgage Loans	The table below provides details of the loans on our consolidated balance sheets. March 31, 2016 December 31, 2015 (in millions) Held by Freddie Mac Held by Total Held by Freddie Mac Held by Total Held-for sale: Single-family $ 4,343 $ 381 $ 4,724 $ 6,045 $ 1,702 $ 7,747 Multifamily 23,564 — 23,564 19,582 — 19,582 Total UPB 27,907 381 28,288 25,627 1,702 27,329 Cost basis and fair value adjustments, net (1,099 ) (104 ) (1,203 ) (2,038 ) (299 ) (2,337 ) Total held-for-sale loans 26,808 277 27,085 23,589 1,403 24,992 Held-for-investment: Single-family 87,527 1,607,282 1,694,809 90,532 1,597,590 1,688,122 Multifamily 27,818 1,690 29,508 29,505 1,711 31,216 Total UPB 115,345 1,608,972 1,724,317 120,037 1,599,301 1,719,338 Cost basis adjustments (3,338 ) 29,090 25,752 (3,465 ) 28,659 25,194 Allowance for loan losses (11,701 ) (2,820 ) (14,521 ) (12,555 ) (2,776 ) (15,331 ) Total held-for-investment loans 100,306 1,635,242 1,735,548 104,017 1,625,184 1,729,201 Total loans, net $ 127,114 $ 1,635,519 $ 1,762,633 $ 127,606 $ 1,626,587 $ 1,754,193
Table - Recorded Investment of Held-For-Invstment Mortgage Loans, by LTV Ratio and Credit Classification	The table below presents the recorded investment of single-family held-for-investment loans by current LTV ratios. Our current LTV ratios are estimates based on available data through the end of each respective period presented. March 31, 2016 December 31, 2015 Current LTV Ratio Current LTV Ratio (in millions) ≤ 80 > 80 to 100 > 100 (1) Total ≤ 80 > 80 to 100 > 100 (1) Total 20 and 30-year or more, amortizing fixed-rate (2) $ 1,045,142 $ 234,710 $ 45,701 $ 1,325,553 $ 1,020,227 $ 242,948 $ 50,893 $ 1,314,068 15-year amortizing fixed-rate (2) 271,010 11,380 1,499 283,889 271,456 12,400 1,754 285,610 Adjustable-rate 58,696 4,498 190 63,384 59,724 5,055 249 65,028 Alt-A, interest-only, and option ARM 27,742 12,469 7,539 47,750 27,014 13,124 8,485 48,623 Total single-family loans $ 1,402,590 $ 263,057 $ 54,929 $ 1,720,576 $ 1,378,421 $ 273,527 $ 61,381 $ 1,713,329 (1) The serious delinquency rate for the total of single-family held-for-investment mortgage loans with current LTV ratios in excess of 100% was 6.01% and 6.03% as of March 31, 2016 and December 31, 2015, respectively. (2) The majority of our loan modifications result in new terms that include fixed interest rates after modification. As of March 31, 2016 and December 31, 2015, we have categorized UPB of approximately $37.2 billion and $38.3 billion , respectively, of modified loans as fixed-rate loans (instead of as adjustable rate loans), even though the modified loans have rate adjustment provisions. In these cases, while the terms of the modified loans provide for the interest rate to adjust, such rates and the timing of adjustment are determined at the time of modification rather than at a subsequent date. The following table presents the recorded investment in our multifamily held-for-investment loans, by credit quality indicator based on available data through the end of each period presented. These indicators involve significant management judgment. (in millions) March 31, 2016 December 31, 2015 Credit risk profile by internally assigned grade: (1) Pass $ 28,233 $ 29,660 Special mention 879 1,135 Substandard 381 408 Doubtful — — Total $ 29,493 $ 31,203 (1) A loan categorized as: "Pass" is current and adequately protected by the current financial strength and debt service capacity of the borrower; "Special mention" has signs of potential financial weakness; "Substandard" has a weakness that jeopardizes the timely full repayment; and "Doubtful" has a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions.
Table - Payment Status of Mortgage Loans	The following table presents the recorded investment of our single-family and multifamily loans, held-for-investment, by payment status. March 31, 2016 (in millions) Current One Month Past Due Two Months Past Due Three Months or More Past Due, or in Foreclosure (1) Total Non-accrual Single-family: 20 and 30-year or more, amortizing fixed-rate $ 1,295,280 $ 13,937 $ 4,269 $ 12,067 $ 1,325,553 $ 12,065 15-year amortizing fixed-rate 282,599 788 160 342 283,889 342 Adjustable-rate 62,757 312 83 232 63,384 232 Alt-A, interest-only, and option ARM 42,932 1,796 631 2,391 47,750 2,390 Total single-family 1,683,568 16,833 5,143 15,032 1,720,576 15,029 Total multifamily 29,493 — — — 29,493 120 Total single-family and multifamily $ 1,713,061 $ 16,833 $ 5,143 $ 15,032 $ 1,750,069 $ 15,149 December 31, 2015 (in millions) Current One Month Past Due Two Months Past Due Three (1) Total Non-accrual Single-family: 20 and 30-year or more, amortizing fixed-rate $ 1,280,247 $ 16,178 $ 5,037 $ 12,606 $ 1,314,068 $ 12,603 15-year amortizing fixed-rate 284,137 935 183 355 285,610 355 Adjustable-rate 64,326 359 88 255 65,028 255 Alt-A, interest-only, and option ARM 43,543 1,962 714 2,404 48,623 2,403 Total single-family 1,672,253 19,434 6,022 15,620 1,713,329 15,616 Total multifamily 31,203 — — — 31,203 170 Total single-family and multifamily $ 1,703,456 $ 19,434 $ 6,022 $ 15,620 $ 1,744,532 $ 15,786 (1) Includes $7.0 billion of loans that were in the process of foreclosure as of both March 31, 2016 and December 31, 2015.
Table - Delinquency Rates	The table below summarizes the delinquency rates of loans within our single-family credit guarantee and multifamily mortgage portfolios. (dollars in millions) March 31, 2016 December 31, 2015 Single-family: (1) Non-credit-enhanced portfolio Serious delinquency rate 1.20 % 1.30 % Total number of seriously delinquent loans 95,941 105,071 Credit-enhanced portfolio: (2) Primary mortgage insurance: Serious delinquency rate 1.78 % 2.06 % Total number of seriously delinquent loans 24,290 27,813 Other credit protection: (3) Serious delinquency rate 0.49 % 0.58 % Total number of seriously delinquent loans 8,888 9,422 Total single-family: Serious delinquency rate 1.20 % 1.32 % Total number of seriously delinquent loans 128,044 141,255 Multifamily: (4) Non-credit-enhanced portfolio: Delinquency rate 0.03 % 0.03 % UPB of delinquent loans $ 19 $ 19 Credit-enhanced portfolio: Delinquency rate 0.04 % 0.02 % UPB of delinquent loans $ 48 $ 20 Total Multifamily: Delinquency rate 0.04 % 0.02 % UPB of delinquent loans $ 67 $ 39 (1) Serious delinquencies on single-family loans underlying certain REMICs, other securitization products, and other mortgage-related guarantees may be reported on a different schedule due to variances in industry practice. (2) The credit enhanced categories are not mutually exclusive as a single loan may be covered by both primary mortgage insurance and other credit protection. (3) Consists of single-family loans covered by financial arrangements (other than primary mortgage insurance) that are designed to reduce our credit risk exposure. See "Credit Protection and Other Forms of Credit Enhancement" for more information. (4) Multifamily delinquency performance is based on UPB of loans that are two monthly payments or more past due or those in the process of foreclosure.
Table - Detail of Loan Loss Reserves	The table below presents our loan loss reserves activity. Three Months Ended March 31, 2016 2015 Allowance for Loan Losses Reserve for Allowance for Loan Losses Reserve for (in millions) Held by Freddie Mac Held By Total Held by Freddie Mac Held By Total Single-family: Beginning balance $ 12,516 $ 2,775 $ 57 $ 15,348 $ 18,800 $ 2,884 $ 109 $ 21,793 Provision (benefit) for credit losses (435 ) (29 ) 2 (462 ) (469 ) (25 ) (2 ) (496 ) Charge-offs (499 ) (68 ) (2 ) (569 ) (2,781 ) (168 ) (2 ) (2,951 ) Recoveries 126 2 — 128 169 5 — 174 Transfers, net (1) (41 ) 139 — 98 301 (142 ) — 159 Ending balance $ 11,667 $ 2,819 $ 57 $ 14,543 $ 16,020 $ 2,554 $ 105 $ 18,679 Multifamily ending balance $ 34 $ 1 $ 17 $ 52 $ 74 $ — $ 17 $ 91 Total ending balance $ 11,701 $ 2,820 $ 74 $ 14,595 $ 16,094 $ 2,554 $ 122 $ 18,770 (1) Consists of approximately $0.1 billion during both the three months ended March 31, 2016 and March 31, 2015 attributable to capitalization of past due interest on modified loans. Also includes amounts associated with reclassified single-family reserves related to our removal of loans previously held by consolidated trusts, net of reclassifications for single-family loans subsequently resecuritized after such removal.
Table - TDR Activity, by Segment	The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs during the three months ended March 31, 2016 and March 31, 2015 , based on the original category of the loan before the loan was classified as a TDR. Loans classified as a TDR in one period may be subject to further action (such as a modification or remodification) in a subsequent period. In such cases, the subsequent action would not be reflected in the table below since the loan would already have been classified as a TDR. Three Months Ended March 31, 2016 2015 (dollars in millions) Number of Loans Post-TDR Recorded Investment Number of Loans Post-TDR Recorded Investment Single-family: (1) 20 and 30-year or more, amortizing fixed-rate 10,332 $ 1,456 13,293 $ 1,919 15-year amortizing fixed-rate 1,318 94 1,652 123 Adjustable-rate 274 40 405 57 Alt-A, interest-only, and option ARM 919 169 1,388 269 Total single-family 12,843 1,759 16,738 2,368 Multifamily 2 8 — — Total 12,845 $ 1,767 16,738 $ 2,368 (1) The pre-TDR recorded investment for single-family loans initially classified as TDR during the three months ended March 31, 2016 and March 31, 2015 was $1.8 billion and $2.4 billion , respectively.
Table - Payment Defaults of Completed TDR Modifications, by Segment	The table below presents the volume of our TDR modifications that experienced payment defaults (i.e., loans that became two months delinquent or completed a loss event) during the applicable periods and had completed a modification during the year preceding the payment default. The table presents loans based on their original product category before modification. Three Months Ended March 31, 2016 2015 (dollars in millions) Number of Loans Post-TDR Recorded Investment Number of Loans Post-TDR Recorded Investment Single-family: 20 and 30-year or more, amortizing fixed-rate 3,992 $ 634 4,307 $ 754 15-year amortizing fixed-rate 233 18 206 18 Adjustable-rate 73 11 68 12 Alt-A, interest-only, and option ARM 459 98 514 122 Total single-family 4,757 $ 761 5,095 $ 906 Multifamily — $ — — $ —
Table - Individually Impaired Loans	The tables below present the UPB, recorded investment, related allowance for loan losses, average recorded investment and interest income recognized for individually impaired loans. March 31, 2016 December 31, 2015 (in millions) UPB Recorded Investment Associated Allowance UPB Recorded Investment Associated Single-family — With no specific allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $ 5,324 $ 4,000 N/A $ 4,957 $ 3,724 N/A 15-year amortizing fixed-rate 42 35 N/A 45 38 N/A Adjustable-rate 223 220 N/A 194 191 N/A Alt-A, interest-only, and option ARM 1,574 1,213 N/A 1,370 1,033 N/A Total with no specific allowance recorded 7,163 5,468 N/A 6,566 4,986 N/A With specific allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 72,302 70,708 $ (10,667 ) 72,886 71,215 $ (11,245 ) 15-year amortizing fixed-rate 957 961 (23 ) 975 978 (21 ) Adjustable-rate 478 470 (27 ) 518 510 (28 ) Alt-A, interest-only, and option ARM 14,390 13,755 (2,598 ) 14,409 13,839 (2,725 ) Total with specific allowance recorded 88,127 85,894 (13,315 ) 88,788 86,542 (14,019 ) Combined single-family: 20 and 30-year or more, amortizing fixed-rate 77,626 74,708 (10,667 ) 77,843 74,939 (11,245 ) 15-year amortizing fixed-rate 999 996 (23 ) 1,020 1,016 (21 ) Adjustable-rate 701 690 (27 ) 712 701 (28 ) Alt-A, interest-only, and option ARM 15,964 14,968 (2,598 ) 15,779 14,872 (2,725 ) Total single-family $ 95,290 $ 91,362 $ (13,315 ) $ 95,354 $ 91,528 $ (14,019 ) Multifamily — With no specific allowance recorded (1) $ 277 $ 270 N/A $ 341 $ 333 N/A With specific allowance recorded 157 148 $ (19 ) 149 142 $ (21 ) Total multifamily $ 434 $ 418 $ (19 ) $ 490 $ 475 $ (21 ) Total single-family and multifamily $ 95,724 $ 91,780 $ (13,334 ) $ 95,844 $ 92,003 $ (14,040 ) For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 (in millions) Average Interest Interest Income (3) Average Recorded Investment Interest Income Recognized Interest Income Recognized On Cash Basis (3) Single-family — With no specific allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $ 4,015 $ 102 $ 2 $ 3,012 $ 88 $ 2 15-year amortizing fixed-rate 37 1 — 44 2 — Adjustable rate 222 2 — 33 1 — Alt-A, interest-only, and option ARM 1,195 25 1 683 18 — Total with no specific allowance recorded 5,469 130 3 3,772 109 2 With specific allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 70,731 685 74 76,264 632 81 15-year amortizing fixed-rate 942 12 2 1,147 13 3 Adjustable rate 461 5 1 788 4 1 Alt-A, interest-only, and option ARM 13,673 124 10 16,128 101 13 Total with specific allowance recorded 85,807 826 87 94,327 750 98 Combined single-family: 20 and 30-year or more, amortizing fixed-rate 74,746 787 76 79,276 720 83 15-year amortizing fixed-rate 979 13 2 1,191 15 3 Adjustable rate 683 7 1 821 5 1 Alt-A, interest-only, and option ARM 14,868 149 11 16,811 119 13 Total single-family $ 91,276 $ 956 $ 90 $ 98,099 $ 859 $ 100 Multifamily — With no specific allowance recorded (1) $ 271 $ 3 $ 1 $ 518 $ 6 $ 2 With specific allowance recorded 148 2 1 374 4 2 Total multifamily $ 419 $ 5 $ 2 $ 892 $ 10 $ 4 Total single-family and multifamily $ 91,695 $ 961 $ 92 $ 98,991 $ 869 $ 104 (1) Individually impaired loans with no specific related valuation allowance primarily represent those loans for which the collateral value is sufficiently in excess of the loan balance to result in recovery of the entire recorded investment if the property were foreclosed upon or otherwise subject to disposition. (2) Consists primarily of loans classified as TDRs. (3) Consists of income recognized during the period related to loans on non-accrual status.
Table - Net Investment in Mortgage Loans	The table below presents our allowance for loan losses and our recorded investment in loans, held-for-investment, by impairment evaluation methodology. March 31, 2016 December 31, 2015 (in millions) Single-family Multifamily Total Single-family Multifamily Total Recorded investment: Collectively evaluated $ 1,629,214 $ 29,075 $ 1,658,289 $ 1,621,801 $ 30,728 $ 1,652,529 Individually evaluated 91,362 418 91,780 91,528 475 92,003 Total recorded investment 1,720,576 29,493 1,750,069 1,713,329 31,203 1,744,532 Ending balance of the allowance for loan losses: Collectively evaluated (1,171 ) (16 ) (1,187 ) (1,273 ) (18 ) (1,291 ) Individually evaluated (13,315 ) (19 ) (13,334 ) (14,019 ) (21 ) (14,040 ) Total ending balance of the allowance (14,486 ) (35 ) (14,521 ) (15,292 ) (39 ) (15,331 ) Net investment in loans $ 1,706,090 $ 29,458 $ 1,735,548 $ 1,698,037 $ 31,164 $ 1,729,201
Table - Recourse and other forms of credit protection	In connection with the securitization activities of the Multifamily segment, we have various forms of credit protection. The most prevalent type is subordination, primarily through our K Certificates. Through subordination, we mitigate our credit risk exposure by structuring our securities to sell the vast majority of expected credit losses to private investors who purchase the subordinate tranches, as shown in the table below. UPB at Maximum Coverage at (in millions) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 K Certificates $ 109,109 $ 101,473 $ 19,696 $ 18,453 Other securitization products 7,835 7,026 1,632 1,477 Total $ 116,944 $ 108,499 $ 21,328 $ 19,930 The table below presents the UPB of single-family loans on our consolidated balance sheets or underlying certain of our financial guarantees with credit protection and the maximum amounts of potential loss recovery by type of credit protection. UPB (1) at Maximum Coverage (1)(2) at (in millions) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Primary mortgage insurance $ 261,242 $ 257,063 $ 66,899 $ 65,760 STACR debt note and ACIS transactions (3) 271,291 241,450 16,842 14,916 Lender recourse and indemnifications 6,178 6,339 5,243 5,396 Pool insurance (4) 1,633 1,706 720 753 HFA indemnification 2,536 2,599 2,536 2,599 Subordination 2,920 3,021 319 336 Other credit enhancements 15 15 9 10 Total $ 545,815 $ 512,193 $ 92,568 $ 89,770 (1) Except for the majority of our single-family credit risk transfer transactions, our credit enhancements generally provide protection for the first, or initial, credit losses associated with the related loans. Excludes: (a) FHA/VA and other governmental loans; (b) credit protection associated with $8.0 billion and $8.3 billion in UPB of single-family loans underlying other securitization products as of March 31, 2016 and December 31, 2015, respectively, as the information was not available; and (c) repurchase rights (subject to certain conditions and limitations) we have under representations and warranties provided by our agreements with seller/servicers to underwrite loans and service them in accordance with our standards. The UPB of single-family loans covered by insurance or partial guarantees issued by federal agencies (such as FHA, VA and USDA) was $3.1 billion and $3.2 billion as of March 31, 2016 and December 31, 2015, respectively. (2) Except for subordination, this represents the remaining amount of loss recovery that is available subject to terms of counterparty agreements. For subordination, this represents the UPB of the securities that are subordinate to our guarantee, which could provide protection by absorbing first losses. (3) Excludes $100.8 billion and $87.4 billion in UPB at March 31, 2016 and December 31, 2015, respectively, where the related loans are also covered by primary mortgage insurance. Maximum coverage amounts presented represent the outstanding balance of STACR debt notes held by third parties as well as the remaining aggregate limit of insurance purchased from third parties in ACIS transactions. (4) Excludes approximately $0.5 billion and $0.6 billion in UPB at March 31, 2016 and December 31, 2015, respectively, where the related loans are also covered by primary mortgage insurance.

Investments in Securities (Tabl

Investments in Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Table - Investments in Securities	The table below summarizes the carrying value of our investments in securities by classification. (in millions) March 31, 2016 December 31, 2015 Trading securities $ 36,471 $ 39,278 Available-for-sale securities 71,124 74,937 Total $ 107,595 $ 114,215
Table - Trading Securities	The table below presents the estimated fair values of our trading securities by major security type. Our non-mortgage-related securities consist of Treasury securities. (in millions) March 31, 2016 December 31, 2015 Mortgage-related securities: Freddie Mac $ 14,771 $ 15,513 Fannie Mae 6,182 6,438 Ginnie Mae 144 30 Other 136 146 Total mortgage-related securities 21,233 22,127 Non-mortgage-related securities 15,238 17,151 Total fair value of trading securities $ 36,471 $ 39,278
Table - Available-For-Sale Securities	The table below presents the amortized cost, gross unrealized gains and losses, and fair value by major security type for our securities classified as available-for-sale. March 31, 2016 Gross Unrealized Losses (in millions) Amortized Cost Gross Unrealized Gains Other-Than-Temporary Impairment (1) Temporary Impairment (2) Fair Value Available-for-sale securities: Freddie Mac $ 32,955 $ 1,363 $ — $ (43 ) $ 34,275 Fannie Mae 6,616 276 — (45 ) 6,847 Ginnie Mae 143 12 — — 155 CMBS 9,618 485 (13 ) (23 ) 10,067 Subprime 11,814 519 (327 ) (59 ) 11,947 Option ARM 3,159 238 (67 ) (5 ) 3,325 Alt-A and other 2,489 465 (8 ) (6 ) 2,940 Obligations of states and political subdivisions 996 17 — (1 ) 1,012 Manufactured housing 474 83 (1 ) — 556 Total available-for-sale securities $ 68,264 $ 3,458 $ (416 ) $ (182 ) $ 71,124 December 31, 2015 Gross Unrealized Losses (in millions) Amortized Gross Other-Than-Temporary Impairment (1) Temporary Impairment (2) Fair Available-for-sale securities: Freddie Mac $ 32,684 $ 942 $ — $ (99 ) $ 33,527 Fannie Mae 7,033 265 — (36 ) 7,262 Ginnie Mae 150 12 — — 162 CMBS 12,009 450 (2 ) (9 ) 12,448 Subprime 12,499 653 (295 ) (55 ) 12,802 Option ARM 3,423 317 (56 ) (6 ) 3,678 Alt-A and other 2,788 506 (11 ) (5 ) 3,278 Obligations of states and political subdivisions 1,187 19 — (1 ) 1,205 Manufactured housing 488 87 — — 575 Total available-for-sale securities $ 72,261 $ 3,251 $ (364 ) $ (211 ) $ 74,937 (1) Represents the gross unrealized losses for securities for which we have previously recognized other-than-temporary impairments in earnings. (2) Represents the gross unrealized losses for securities for which we have not previously recognized other-than-temporary impairments in earnings.
Table - Available-For-Sale Securities in a Gross Unrealized Loss Position	The table below presents available-for-sale securities in a gross unrealized loss position and whether such securities have been in an unrealized loss position for less than 12 months, or 12 months or greater. March 31, 2016 Less than 12 Months 12 Months or Greater (in millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-sale securities: Freddie Mac $ 3,300 $ (26 ) $ 1,430 $ (17 ) Fannie Mae 2,286 (27 ) 1,220 (18 ) Ginnie Mae — — 53 — CMBS 175 (23 ) 144 (13 ) Subprime 1,766 (30 ) 3,669 (356 ) Option ARM 419 (22 ) 555 (50 ) Alt-A and other 152 (3 ) 219 (11 ) Obligations of states and political subdivisions 4 — 8 (1 ) Manufactured housing — — 14 (1 ) Total available-for-sale securities in a gross unrealized loss position $ 8,102 $ (131 ) $ 7,312 $ (467 ) December 31, 2015 Less than 12 Months 12 Months or Greater (in millions) Fair Gross Unrealized Losses Fair Gross Unrealized Losses Available-for-sale securities: Freddie Mac $ 8,171 $ (64 ) $ 1,224 $ (35 ) Fannie Mae 2,402 (24 ) 1,337 (12 ) Ginnie Mae — — 55 — CMBS 396 (9 ) 160 (2 ) Subprime 719 (21 ) 3,923 (329 ) Option ARM 349 (8 ) 579 (54 ) Alt-A and other 108 (1 ) 265 (15 ) Obligations of states and political subdivisions 18 — 8 (1 ) Manufactured housing — — 14 — Total available-for-sale securities in a gross unrealized loss position $ 12,163 $ (127 ) $ 7,565 $ (448 )
Table - Significant Modeled Attributes for Certain Available-For-Sale Non-Agency Mortgage-Related Securities	The table below presents the modeled attributes for the related collateral that are used to determine whether our interests in certain available-for-sale non-agency mortgage-related securities will experience a cash shortfall. March 31, 2016 (dollars in millions) Subprime Option ARM Alt-A UPB $ 16,462 $ 4,922 $ 2,376 Weighted average collateral defaults 42 % 26 % 22 % Weighted average collateral severities 63 % 56 % 45 % Weighted average voluntary prepayment rates 3 % 11 % 11 % Average security credit enhancements 5 % (2 )% — %
Table - Net Impairment of Available-For-Sale Securities Recognized in Earnings	The table below summarizes the net impairment on available-for-sale securities recognized in earnings. The other impairment amount relates to increases in our estimate of the present value of expected future credit losses for certain securities. Three Months Ended March 31, (in millions) 2016 2015 Net impairment of available-for-sale securities recognized in earnings Intent to sell $ 52 $ 89 Other 5 4 Total net impairment of available-for-sale securities recognized in earnings $ 57 $ 93
Table - Other-Than-Temporary Impairments Related to Credit Losses on Available-For-Sale Securities	The following table is a rollforward of the amount of credit-related other-than-temporary impairment that has been recognized in earnings for available-for-sale securities that we continue to hold. Three Months Ended March 31, (in millions) 2016 2015 Credit-related other-than-temporary impairments on available-for-sale securities recognized in earnings: Beginning balance — remaining credit losses on available-for-sale securities where other-than-temporary impairments were recognized in earnings $ 5,306 $ 6,798 Additions: Amounts related to credit losses on securities for which an other-than-temporary impairment was not previously recognized — — Amounts related to credit losses on securities for which an other-than-temporary impairment was previously recognized 5 4 Reductions: Amounts related to securities which were sold, written off, or matured (55 ) (52 ) Amounts related to securities which we intend to sell or it is more likely than not that we will be required to sell before recovery of amortized cost basis (636 ) (380 ) Amounts related to amortization resulting from significant increases in cash flows expected to be collected and/or due to the passage of time that are recognized over the remaining life of the security (69 ) (89 ) Ending balance — remaining credit losses on available-for-sale securities where other-than-temporary impairments were recognized in earnings $ 4,551 $ 6,281
Table - Gross Realized Gains and Gross Realized Losses on Sales of Available-For-Sale Securities	The table below summarizes the gross realized gains and gross realized losses from the sale of available-for-sale securities. Three Months Ended March 31, (in millions) 2016 2015 Gross realized gains $ 80 $ 367 Gross realized losses (8 ) (5 ) Net realized gains (losses) $ 72 $ 362
Table - Maturities of Available-For-Sale Securities	The table below presents the remaining contractual maturities of available-for-sale securities by security type. As of March 31, 2016 After One Year Through Five Years After Five Years Through Ten Years Total Amortized Cost Total Fair Value One Year or Less After Ten Years Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value (dollars in millions) Available-for-sale securities: Freddie Mac $ 32,955 $ 34,275 $ 19 $ 19 $ 1 $ 1 $ 1,692 $ 1,684 $ 31,243 $ 32,571 Fannie Mae 6,616 6,847 3 3 11 12 72 81 6,530 6,751 Ginnie Mae 143 155 — — 1 1 21 24 121 130 CMBS 9,618 10,067 140 142 — — 17 17 9,461 9,908 Subprime 11,814 11,947 — — — — — — 11,814 11,947 Option ARM 3,159 3,325 — — — — — — 3,159 3,325 Alt-A and other 2,489 2,940 — — 13 13 6 7 2,470 2,920 Obligations of states and political subdivisions 996 1,012 10 11 23 24 75 78 888 899 Manufactured housing 474 556 — — — — 7 9 467 547 Total available-for-sale securities $ 68,264 $ 71,124 $ 172 $ 175 $ 49 $ 51 $ 1,890 $ 1,900 $ 66,153 $ 68,998

Debt Securities and Subordina26

Debt Securities and Subordinated Borrowings (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Table - Total Debt, Net	The table below summarizes the interest expense per our consolidated statements of comprehensive income and the balances of total debt, net per our consolidated balance sheets. Interest Expense for the Balance, Net Three Months Ended March 31, (in millions) March 31, 2016 December 31, 2015 2016 2015 Debt securities of consolidated trusts held by third parties $ 1,568,183 $ 1,556,121 $ 11,791 $ 11,487 Other debt: Short-term debt 85,128 113,569 93 38 Long-term debt 302,307 300,579 1,504 1,563 Total other debt 387,435 414,148 1,597 1,601 Total debt, net $ 1,955,618 $ 1,970,269 $ 13,388 $ 13,088
Table - Debt Securities of Consolidated Trusts Held by Third Parties	The table below summarizes the debt securities of consolidated trusts held by third parties based on underlying loan product type. March 31, 2016 December 31, 2015 (dollars in million) Contractual Maturity UPB Carrying Amount Weighted Average Coupon (1) Contractual Maturity UPB Carrying Amount Weighted Average Coupon (1) Single-family: 30-year or more, fixed-rate (2) 2016 - 2053 $ 1,107,363 $ 1,141,139 3.85 % 2016 - 2053 $ 1,090,584 $ 1,123,290 3.88 % 20-year fixed-rate 2016 - 2036 74,054 76,302 3.58 2016 - 2036 73,018 75,221 3.61 15-year fixed-rate 2016 - 2031 266,078 272,450 2.99 2016 - 2031 270,036 276,531 3.01 Adjustable-rate 2016 - 2047 60,613 61,973 2.62 2016 - 2047 62,496 63,899 2.61 Interest-only 2026 - 2041 13,482 13,542 3.20 2026 - 2041 14,252 14,317 3.16 FHA/VA 2016 - 2044 944 962 5.35 2016 - 2044 986 1,005 5.37 Total single-family 1,522,534 1,566,368 1,511,372 1,554,263 Multifamily (2) 2017 - 2028 1,690 1,815 4.91 2017 - 2028 1,717 1,858 4.90 Total debt securities of consolidated trusts held by third parties $ 1,524,224 $ 1,568,183 $ 1,513,089 $ 1,556,121 (1) The effective rate for debt securities of consolidated trusts held by third parties was 3.05% and 3.06% as of March 31, 2016 and December 31, 2015, respectively. (2) Carrying amount includes securities recorded at fair value.
Table - Other Debt	The table below summarizes the balances and effective interest rates for other debt. We had no balances of securities sold under agreements to repurchase at either March 31, 2016 or December 31, 2015 March 31, 2016 December 31, 2015 (dollars in millions) Par Value Carrying Amount (1) Weighted Average Effective Rate Par Value Carrying Amount (1) Weighted Average Effective Rate Other short-term debt: Discount notes and Reference Bills ® $ 75,659 $ 75,583 0.42 % $ 104,088 $ 104,024 0.28 % Medium-term notes 9,545 9,545 0.20 9,545 9,545 0.20 Total other short-term debt $ 85,204 $ 85,128 0.40 $ 113,633 $ 113,569 0.28 Other long-term debt: Original maturities on or before December 31, 2016 $ 49,654 $ 49,675 2.17 % $ 58,765 $ 58,821 2.13 % 2017 95,586 95,660 1.44 91,544 91,636 1.48 2018 54,118 54,149 1.42 48,189 48,187 1.52 2019 39,455 39,361 1.73 31,352 31,259 1.84 2020 16,732 16,705 1.88 26,697 26,664 1.96 Thereafter 50,573 46,757 3.70 47,841 44,012 3.72 Total other long-term debt (2) 306,118 302,307 1.97 304,388 300,579 2.02 Total other debt $ 391,322 $ 387,435 $ 418,021 $ 414,148 (1) Represents par value, net of associated discounts or premiums, and hedge-related basis adjustments. Includes $6.8 billion and $7.0 billion at March 31, 2016 and December 31, 2015, respectively, of other long-term debt that represents the fair value of debt securities with the fair value option elected. (2) Balance, net for other long-term debt includes callable debt of $107.9 billion and $106.9 billion at March 31, 2016 and December 31, 2015, respectively, which gives us the option to call or not call debt for a variety of reasons that include managing the composition of liabilities or economic reasons.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Table - Derivative Assets and Liabilities at Fair Value	The table below presents the notional value and fair value of derivatives reported on our consolidated balance sheets. March 31, 2016 December 31, 2015 Notional or Contractual Amount Derivatives at Fair Value Notional or Contractual Amount Derivatives at Fair Value (in millions) Assets Liabilities Assets Liabilities Total derivative portfolio Interest-rate swaps: Receive-fixed $ 263,757 $ 7,282 $ (58 ) $ 209,988 $ 4,591 $ (486 ) Pay-fixed 219,907 12 (19,991 ) 218,599 319 (11,736 ) Basis (floating to floating) 1,125 1 — 1,125 1 — Total interest-rate swaps 484,789 7,295 (20,049 ) 429,712 4,911 (12,222 ) Option-based: Call swaptions Purchased 59,230 5,288 — 57,925 3,450 — Written 4,375 — (151 ) 4,375 — (100 ) Put Swaptions Purchased 29,080 424 — 24,050 580 — Written 11,025 — (5 ) 11,025 — (28 ) Other option-based derivatives (1) 14,096 949 — 12,088 791 — Total option-based 117,806 6,661 (156 ) 109,463 4,821 (128 ) Futures 69,739 — — 56,332 — — Commitments 58,008 126 (174 ) 29,114 34 (28 ) Credit derivatives 3,743 22 (7 ) 3,899 25 (10 ) Other 3,013 — (23 ) 3,033 — (23 ) Total derivatives not designated as hedging instruments 737,098 14,104 (20,409 ) 631,553 9,791 (12,411 ) Derivative interest receivable (payable) 1,164 (1,617 ) 814 (1,393 ) Netting adjustments (2) (14,454 ) 20,394 (10,210 ) 12,550 Total derivative portfolio, net $ 737,098 $ 814 $ (1,632 ) $ 631,553 $ 395 $ (1,254 ) (1) Primarily consists of purchased interest-rate caps and floors. (2) Represents counterparty netting and cash collateral netting. Cash collateral amounts were a net $5.9 billion and $2.3 billion at March 31, 2016 and December 31, 2015, respectively.
Table - Gains and Losses on Derivatives	The table below presents the gains and losses on derivatives, including the accrual of periodic cash settlements, reported in our consolidated statements of comprehensive income as derivative gains (losses). Three Months Ended March 31, (in millions) 2016 2015 Interest-rate swaps: Receive-fixed $ 2,944 $ 1,317 Pay-fixed (8,635 ) (3,978 ) Basis (floating to floating) 1 — Total interest-rate swaps (5,690 ) (2,661 ) Option based: Call swaptions Purchased 2,099 1,015 Written (71 ) (29 ) Put swaptions Purchased (278 ) (66 ) Written 38 15 Other option-based derivatives (1) 147 81 Total option-based 1,935 1,016 Other: Futures (181 ) (40 ) Commitments (126 ) (111 ) Credit derivatives (8 ) (37 ) Other (1 ) 1 Total other (316 ) (187 ) Accrual of periodic cash settlements: Receive-fixed interest-rate swaps 617 680 Pay-fixed interest-rate swaps (1,107 ) (1,251 ) Total accrual of periodic cash settlements (490 ) (571 ) Total $ (4,561 ) $ (2,403 ) (1) Primarily consists of purchased interest-rate caps and floors.

Collateral and Offsetting of 28

Collateral and Offsetting of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Offsetting [Abstract]
Table - Offsetting of Financial Assets and Liabilities	The table below displays information related to derivatives and securities purchased under agreements to resell on our consolidated balance sheets. March 31, 2016 (in millions) Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets (1) Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount Assets: Derivatives: OTC interest-rate swaps and option-based derivatives $ 11,672 $ (11,031 ) $ 641 $ (436 ) $ 205 Cleared and exchange-traded derivatives 3,448 (3,423 ) 25 — 25 Other 148 — 148 — 148 Total derivatives 15,268 (14,454 ) 814 (436 ) 378 Securities purchased under agreements to resell 40,098 — 40,098 (40,098 ) — Total $ 55,366 $ (14,454 ) $ 40,912 $ (40,534 ) $ 378 Liabilities: Derivatives: OTC interest-rate swaps and option-based derivatives $ (11,819 ) $ 10,594 $ (1,225 ) $ 1,084 $ (141 ) Cleared and exchange-traded derivatives (10,003 ) 9,800 (203 ) — (203 ) Other (204 ) — (204 ) — (204 ) Total $ (22,026 ) $ 20,394 $ (1,632 ) $ 1,084 $ (548 ) December 31, 2015 (in millions) Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets (1) Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount Assets: Derivatives: OTC interest-rate swaps and option-based derivatives $ 8,763 $ (8,433 ) $ 330 $ (269 ) $ 61 Cleared and exchange-traded derivatives 1,783 (1,777 ) 6 — 6 Other 59 — 59 — 59 Total derivatives 10,605 (10,210 ) 395 (269 ) 126 Securities purchased under agreements to resell 63,644 — 63,644 (63,644 ) — Total $ 74,249 $ (10,210 ) $ 64,039 $ (63,913 ) $ 126 Liabilities: Derivatives: OTC interest-rate swaps and option-based derivatives $ (8,886 ) $ 7,801 $ (1,085 ) $ 948 $ (137 ) Cleared and exchange-traded derivatives (4,857 ) 4,749 (108 ) — (108 ) Other (61 ) — (61 ) — (61 ) Total $ (13,804 ) $ 12,550 $ (1,254 ) $ 948 $ (306 ) (1) For derivatives, includes cash collateral posted or held in excess of exposure. (2) Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability presented on the consolidated balance sheets. For cleared and exchange-traded derivatives, does not include non-cash collateral posted by us with an aggregate fair value of $2.6 billion and $2.8 billion as of March 31, 2016 and December 31, 2015, respectively.
Restricted OTC Cash Collateral Held	The table below shows the line item presentation of these funds received and those re-invested by us on our condensed consolidated balance sheets. (in millions) March 31, 2016 December 31, 2015 Restricted cash and cash equivalents $ 349 $ 175 Securities purchased under agreements to resell 582 905 Investments in securities - Trading securities 1,075 447 Total $ 2,006 $ 1,527
Table - Collateral in the Form of Securities Pledged	The table below summarizes all securities pledged as collateral by us for derivatives and securities transactions where the secured party may repledge. (in millions) March 31, 2016 December 31, 2015 Securities pledged with the ability for the secured party to repledge: Debt securities of consolidated trusts held by third parties (1) $ 1,711 $ 1,293 Available-for-sale securities 175 — Trading securities 1,995 2,487 Total securities pledged $ 3,881 $ 3,780 (1) Represents PCs held by us in our Investments segment mortgage investments portfolio and pledged as collateral which are recorded as a reduction to debt securities of consolidated trusts held by third parties on our consolidated balance sheets.

Stockholders' Equity and Earn29

Stockholders' Equity and Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Table - Changes in AOCI by Component, Net of Tax	The table below presents changes in AOCI after the effects of our 35% federal statutory tax rate related to available-for-sale securities, closed cash flow hedges, and our defined benefit plans. Three Months Ended March 31, 2016 (in millions) AOCI Related to Available- For-Sale Securities AOCI Related to Cash Flow Hedge Relationships AOCI Related to Defined Benefit Plans Total Beginning balance $ 1,740 $ (621 ) $ 34 $ 1,153 Other comprehensive income before reclassifications (1) 129 — 2 131 Amounts reclassified from accumulated other comprehensive income (10 ) 34 (1 ) 23 Changes in AOCI by component 119 34 1 154 Ending balance $ 1,859 $ (587 ) $ 35 $ 1,307 Three Months Ended March 31, 2015 (in millions) AOCI Related to Available- For-Sale Securities AOCI Related to Cash Flow Hedge Relationships AOCI Related to Defined Benefit Plans Total Beginning balance $ 2,546 $ (803 ) $ (13 ) $ 1,730 Other comprehensive income before reclassifications (1) 331 — 6 337 Amounts reclassified from accumulated other comprehensive income (174 ) 59 — (115 ) Changes in AOCI by component 157 59 6 222 Ending balance $ 2,703 $ (744 ) $ (7 ) $ 1,952 (1) For the three months ended March 31, 2016 and March 31, 2015, net of tax expense of $0.1 billion and $0.2 billion , respectively, for AOCI related to available-for-sale securities.
Table - Reclassifications from AOCI to Net Income	The table below presents reclassifications from AOCI to net income, including the affected line item in our consolidated statements of comprehensive income. Details about Accumulated Other Comprehensive Income Components Three Months Ended March 31, Affected Line Item in the Consolidated Statements of Comprehensive Income (in millions) 2016 2015 AOCI related to available-for-sale securities $ 72 $ 362 Other gains (losses) on investment securities recognized in earnings (57 ) (93 ) Net impairment of available-for-sale securities recognized in earnings 15 269 Total before tax (5 ) (95 ) Tax (expense) or benefit 10 174 Net of tax AOCI related to cash flow hedge relationships — — Interest expense — Other debt (51 ) (65 ) Expense related to derivatives (51 ) (65 ) Total before tax 17 6 Tax (expense) or benefit (34 ) (59 ) Net of tax AOCI related to defined benefit plans 1 — Salaries and employee benefits — — Tax (expense) or benefit 1 — Net of tax Total reclassifications in the period $ (23 ) $ 115 Net of tax

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Table - Summary of Segment Earnings and Comprehensive Income (Loss)	The table below presents Segment Earnings by segment. Three Months Ended March 31, (in millions) 2016 2015 Segment Earnings (loss), net of taxes: Single-family Guarantee $ 810 $ 60 Multifamily 147 284 Investments (1,311 ) 180 All Other — — Total Segment Earnings, net of taxes (354 ) 524 Net income $ (354 ) $ 524 Comprehensive income (loss) of segments: Single-family Guarantee $ 811 $ 59 Multifamily 150 264 Investments (1,161 ) 416 All Other — 7 Comprehensive income of segments (200 ) 746 Comprehensive income $ (200 ) $ 746
Table - Segment Earnings and Reconciliation to GAAP Results	The tables below present detailed reconciliations between our GAAP financial statements and Segment Earnings for our reportable segments and All Other. Three Months Ended March 31, 2016 Total Segment Earnings (Loss) Total per Consolidated Statements of Comprehensive Income Single-family Guarantee Multifamily Investments All Other Reclassifications (in millions) Net interest income (loss) $ (118 ) $ 252 $ 748 $ — $ 882 $ 2,523 $ 3,405 Management and guarantee fee income (1) 1,285 108 — — 1,393 (1,283 ) 110 Benefit for credit losses 289 5 — — 294 173 467 Net interest income and management and guarantee income after benefit (provision) for credit losses 1,456 365 748 — 2,569 1,413 3,982 Net impairment of available-for-sale securities recognized in earnings — — 81 — 81 (138 ) (57 ) Derivative gains (losses) (8 ) (787 ) (2,995 ) — (3,790 ) (771 ) (4,561 ) Gains (losses) on trading securities — 62 169 — 231 — 231 Gains (losses) on mortgage loans — 497 — — 497 (19 ) 478 Other non-interest income (loss) 195 178 189 — 562 (186 ) 376 Administrative expenses (295 ) (80 ) (73 ) — (448 ) — (448 ) REO operations income (expense) (84 ) — — — (84 ) — (84 ) Other non-interest expense (100 ) (24 ) (2 ) — (126 ) (299 ) (425 ) Income tax (expense) benefit (354 ) (64 ) 572 — 154 — 154 Net income (loss) 810 147 (1,311 ) — (354 ) — (354 ) Changes in unrealized gains (losses) related to available-for-sale securities — 3 116 — 119 — 119 Changes in unrealized gains (losses) related to cash flow hedge relationships — — 34 — 34 — 34 Changes in defined benefit plans 1 — — — 1 — 1 Total other comprehensive income (loss), net of taxes 1 3 150 — 154 — 154 Comprehensive income (loss) $ 811 $ 150 $ (1,161 ) $ — $ (200 ) $ — $ (200 ) Three Months Ended March 31, 2015 Total Segment Earnings (Loss) Total per Consolidated Statements of Comprehensive Income Single-family Guarantee Multifamily Investments All Other Reclassifications (in millions) Net interest income (loss) $ (137 ) $ 242 $ 1,155 $ — $ 1,260 $ 2,387 $ 3,647 Management and guarantee fee income (1) 1,257 73 — — 1,330 (1,242 ) 88 (Provision) benefit for credit losses (380 ) 3 — — (377 ) 876 499 Net interest income and management and guarantee income after benefit (provision) for credit losses 740 318 1,155 — 2,213 2,021 4,234 Net impairment of available-for-sale securities recognized in earnings — (17 ) 118 — 101 (194 ) (93 ) Derivative gains (losses) (37 ) (199 ) (1,428 ) — (1,664 ) (739 ) (2,403 ) Gains (losses) on trading securities — 10 45 — 55 — 55 Gains (losses) on mortgage loans — 353 — — 353 (553 ) (200 ) Other non-interest income (loss) (146 ) 44 461 — 359 47 406 Administrative expenses (300 ) (70 ) (81 ) — (451 ) — (451 ) REO operations income (expense) (75 ) — — — (75 ) — (75 ) Other non-interest expense (92 ) (11 ) — — (103 ) (582 ) (685 ) Income tax (expense) benefit (30 ) (144 ) (90 ) — (264 ) — (264 ) Net income 60 284 180 — 524 — 524 Changes in unrealized gains (losses) related to available-for-sale securities — (20 ) 177 — 157 — 157 Changes in unrealized gains (losses) related to cash flow hedge relationships — — 59 — 59 — 59 Changes in defined benefit plans (1 ) — — 7 6 — 6 Total other comprehensive income (loss), net of taxes (1 ) (20 ) 236 7 222 — 222 Comprehensive income $ 59 $ 264 $ 416 $ 7 $ 746 $ — $ 746 (1) Management and guarantee fee income is included in other income (loss) on our GAAP consolidated statements of comprehensive income.

Concentration of Credit and O31

Concentration of Credit and Other Risks (Tables)	3 Months Ended
	Mar. 31, 2016
Risks and Uncertainties [Abstract]
Table - Concentration of Credit Risk	The table below summarizes the concentration by book and geographic area of the approximately $1.7 trillion UPB of our single-family credit guarantee portfolio at both March 31, 2016 and December 31, 2015. See Note 4 and Note 5 for more information about credit risk associated with loans and mortgage-related securities that we hold or guarantee. March 31, 2016 December 31, 2015 Percent of Credit Losses Three Months Ended Percentage of Portfolio Serious Delinquency Rate Percentage of Portfolio Serious Delinquency Rate March 31, 2016 March 31, 2015 Book of Business Core single-family book 68 % 0.19 % 66 % 0.21 % 6 % 2 % HARP and other relief refinance book 17 0.69 % 18 0.72 % 15 5 Legacy single-family book 15 3.86 % 16 4.12 % 79 93 Total 100 % 1.20 % 100 % 1.32 % 100 % 100 % Region (1) West 30 % 0.73 % 29 % 0.79 % 12 % 12 % Northeast 25 1.84 % 26 2.04 % 37 47 North Central 17 1.03 % 17 1.13 % 25 13 Southeast 16 1.41 % 16 1.57 % 21 25 Southwest 12 0.81 % 12 0.88 % 5 3 Total 100 % 1.20 % 100 % 1.32 % 100 % 100 % State (2) Illinois 5 % 1.48 % 5 % 1.62 % 10 % 7 % Florida 5 1.90 % 5 2.16 % 10 20 New York 5 2.64 % 5 2.94 % 10 15 New Jersey 4 3.42 % 4 3.90 % 9 18 California 18 0.56 % 18 0.60 % 6 4 All other 63 1.03 % 63 1.12 % 55 36 Total 100 % 1.20 % 100 % 1.32 % 100 % 100 % (1) Region designation: West (AK, AZ, CA, GU, HI, ID, MT, NV, OR, UT, WA); Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI); Southeast (AL, FL, GA, KY, MS, NC, PR, SC, TN, VI); Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY). (2) States presented based on those with the highest percentage of credit losses during the three months ended March 31, 2016 . The table below summarizes the concentration of single-family and multifamily sellers who provided 10% or more of our purchase volume. Three Months Ended March 31, 2016 March 31, 2015 Single-family Seller Wells Fargo Bank, N.A. 13 % 10 % Other top 10 sellers 35 41 Top 10 single-family sellers 48 % 51 % Multifamily Seller Berkadia Commercial Mortgage LLC 26 % 6 % CBRE Capital Markets, Inc. 19 18 Walker & Dunlop, LLC 14 17 Other top 10 sellers 29 43 Top 10 multifamily sellers 88 % 84 % The table below summarizes the concentration of mortgage insurer counterparties who provided 10% or more of our overall mortgage insurance coverage. Mortgage Insurance Coverage Credit Rating (1) March 31, 2016 December 31, 2015 Radian Guaranty Inc. BBB- 22 % 22 % United Guaranty Residential Insurance Company BBB+ 22 23 Mortgage Guaranty Insurance Corporation BBB- 21 21 Genworth Mortgage Insurance Corporation BB+ 14 14 Total 79 % 80 % The table below summarizes the concentration of single-family and multifamily servicers who serviced 10% or more of our single-family credit guarantee portfolio and our multifamily mortgage portfolio, excluding loans underlying K Certificates. March 31, 2016 December 31, 2015 Single-family Servicer Wells Fargo Bank, N.A. 20 % 20 % JP Morgan Chase Bank, N.A. 10 10 Other top 10 servicers 34 35 Top 10 single-family servicers 64 % 65 % Multifamily Servicer Berkadia Commercial Mortgage LLC 14 % 14 % Wells Fargo Bank, N.A. 13 14 CBRE Capital Markets, Inc. 13 12 Other top 10 servicers 38 36 Top 10 multifamily servicers 78 % 76 %
Certain Higher Risk Categories In The Single Family Credit Guarantee Portfolio [Table Text Block]	Presented below is a summary of the serious delinquency rates of certain higher-risk categories (based on characteristics of the loan at origination) of loans in our single-family credit guarantee portfolio. The table includes a presentation of each higher-risk category in isolation. A single loan may fall within more than one category (for example, an interest-only loan may also have an original LTV ratio greater than 90%). Loans with a combination of these attributes will have an even higher risk of delinquency than those with an individual attribute. Percentage of Portfolio (1) Serious Delinquency Rate (1) (Percentage of portfolio based on UPB) March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 Interest-only 1 % 1 % 5.55 % 6.02 % Alt-A 2 % 2 % 6.01 % 6.32 % Original LTV ratio greater than 90% (2) 16 % 16 % 1.81 % 2.01 % Lower credit scores at origination (less than 620) 2 % 2 % 6.17 % 6.67 % (1) Excludes loans underlying certain other securitization products for which data was not available. (2) Includes HARP loans, which we purchase as part of our participation in the MHA Program.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Table - Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis	The following tables present our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis subsequent to initial recognition, including instruments where we have elected the fair value option. March 31, 2016 (in millions) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Assets: Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $ — $ 29,906 $ 4,369 $ — $ 34,275 Fannie Mae — 6,763 84 — 6,847 Ginnie Mae — 154 1 — 155 CMBS — 6,440 3,627 — 10,067 Subprime — — 11,947 — 11,947 Option ARM — — 3,325 — 3,325 Alt-A and other — — 2,940 — 2,940 Obligations of states and political subdivisions — — 1,012 — 1,012 Manufactured housing — — 556 — 556 Total available-for-sale securities, at fair value — 43,263 27,861 — 71,124 Trading, at fair value: Mortgage-related securities: Freddie Mac — 14,648 123 — 14,771 Fannie Mae — 6,153 29 — 6,182 Ginnie Mae — 144 — — 144 Other — 135 1 — 136 Total mortgage-related securities — 21,080 153 — 21,233 Non-mortgage-related securities 15,238 — — — 15,238 Total trading securities, at fair value 15,238 21,080 153 — 36,471 Total investments in securities 15,238 64,343 28,014 — 107,595 Mortgage loans: Held-for-sale, at fair value — 22,415 — — 22,415 Derivative assets, net: Interest-rate swaps — 7,295 — — 7,295 Option-based derivatives — 6,661 — — 6,661 Other — 125 23 — 148 Subtotal, before netting adjustments — 14,081 23 — 14,104 Netting adjustments (1) — — — (13,290 ) (13,290 ) Total derivative assets, net — 14,081 23 (13,290 ) 814 Other assets: Guarantee asset, at fair value — — 1,894 — 1,894 Non-derivative held-for-sale purchase commitments, at fair value — 74 — — 74 Total other assets — 74 1,894 — 1,968 Total assets carried at fair value on a recurring basis $ 15,238 $ 100,913 $ 29,931 $ (13,290 ) $ 132,792 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $ — $ 122 $ — $ — $ 122 Other debt, at fair value — 6,793 — — 6,793 Derivative liabilities, net: Interest-rate swaps — 20,049 — — 20,049 Option-based derivatives — 156 — — 156 Other — 170 34 — 204 Subtotal, before netting adjustments — 20,375 34 — 20,409 Netting adjustments (1) — — — (18,777 ) (18,777 ) Total derivative liabilities, net — 20,375 34 (18,777 ) 1,632 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 24 — — 24 All other, at fair value — — 8 — 8 Total other liabilities — 24 8 — 32 Total liabilities carried at fair value on a recurring basis $ — $ 27,314 $ 42 $ (18,777 ) $ 8,579 December 31, 2015 (in millions) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Assets: Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $ — $ 30,919 $ 2,608 $ — $ 33,527 Fannie Mae — 7,172 90 — 7,262 Ginnie Mae — 161 1 — 162 CMBS — 8,918 3,530 — 12,448 Subprime — — 12,802 — 12,802 Option ARM — — 3,678 — 3,678 Alt-A and other — — 3,278 — 3,278 Obligations of states and political subdivisions — — 1,205 — 1,205 Manufactured housing — — 575 — 575 Total available-for-sale securities, at fair value — 47,170 27,767 — 74,937 Trading, at fair value: Mortgage-related securities: Freddie Mac — 15,182 331 — 15,513 Fannie Mae — 6,397 41 — 6,438 Ginnie Mae — 30 — — 30 Other — 144 2 — 146 Total mortgage-related securities — 21,753 374 — 22,127 Non-mortgage-related securities 17,151 — — — 17,151 Total trading securities, at fair value 17,151 21,753 374 — 39,278 Total investments in securities 17,151 68,923 28,141 — 114,215 Mortgage loans: Held-for-sale, at fair value — 17,660 — — 17,660 Derivative assets, net: Interest-rate swaps — 4,911 — — 4,911 Option-based derivatives — 4,821 — — 4,821 Other — 34 25 — 59 Subtotal, before netting adjustments — 9,766 25 — 9,791 Netting adjustments (1) — — — (9,396 ) (9,396 ) Total derivative assets, net — 9,766 25 (9,396 ) 395 Other assets: Guarantee asset, at fair value — — 1,753 — 1,753 Total assets carried at fair value on a recurring basis $ 17,151 $ 96,349 $ 29,919 $ (9,396 ) $ 134,023 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $ — $ 139 $ — $ — $ 139 Other debt, at fair value — 7,045 — — 7,045 Derivative liabilities, net: Interest-rate swaps — 12,222 — — 12,222 Option-based derivatives — 128 — — 128 Other — 28 33 — 61 Subtotal, before netting adjustments — 12,378 33 — 12,411 Netting adjustments (1) — — — (11,157 ) (11,157 ) Total derivative liabilities, net — 12,378 33 (11,157 ) 1,254 Other liabilities: All other, at fair value — — 10 — 10 Total liabilities carried at fair value on a recurring basis $ — $ 19,562 $ 43 $ (11,157 ) $ 8,448 (1) Represents counterparty netting, cash collateral netting and net derivative interest receivable or payable. The net cash collateral posted was $5.9 billion and $2.3 billion , respectively, at March 31, 2016 and December 31, 2015 . The net interest receivable (payable) of derivative assets and derivative liabilities was $(0.5) billion and $(0.6) billion at March 31, 2016 and December 31, 2015 , respectively, which was mainly related to interest rate swaps.
Table - Assets on Our Consolidated Balance Sheets Measured at Fair Value on a Non-Recurring Basis	The table below presents assets measured on our consolidated balance sheets at fair value on a non-recurring basis. March 31, 2016 December 31, 2015 (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets measured at fair value on a non-recurring basis: Mortgage loans (1) $ — $ 770 $ 3,729 $ 4,499 $ — $ 1,130 $ 5,851 $ 6,981 REO, net (2) — — 839 839 — — 1,046 1,046 Total assets measured at fair value on a non-recurring basis $ — $ 770 $ 4,568 $ 5,338 $ — $ 1,130 $ 6,897 $ 8,027 (1) Includes loans that are classified as held-for-investment and have been measured for impairment based on the fair value of the underlying collateral and held-for-sale loans where the fair value is below cost. Includes the correction of an error in previously reported amounts that is not material to the consolidated financial statements. (2) Represents the fair value of foreclosed properties that were measured at fair value subsequent to their initial classification as REO, net. The carrying amount of REO, net was adjusted to fair value of $0.8 billion , less estimated costs to sell of $55 million (or approximately $0.8 billion ) at March 31, 2016 . The carrying amount of REO, net was adjusted to fair value of $1.0 billion , less estimated costs to sell of $68 million (or approximately $0.9 billion ) at December 31, 2015 .
Table - Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs	The table below presents a reconciliation of all assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3 assets and liabilities. The table also presents gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized in our consolidated statements of comprehensive income for Level 3 assets and liabilities. Three Months Ended March 31, 2016 Realized and unrealized gains (losses) Balance, Included in Included in Total Purchases Issues Sales Settlements, net Transfers (1) Transfers (1) Balance, Unrealized gains (losses) still held in millions Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $ 2,608 $ 14 $ 1 $ 15 $ 1,755 $ — $ (362 ) $ (89 ) $ 714 $ (272 ) $ 4,369 $ — Fannie Mae 90 — — — — — — (6 ) — — 84 — Ginnie Mae 1 — — — — — — — — — 1 — CMBS 3,530 — 88 88 17 — — (8 ) — — 3,627 — Subprime 12,802 26 (171 ) (145 ) — — (208 ) (502 ) — — 11,947 18 Option ARM 3,678 58 (88 ) (30 ) — — (182 ) (141 ) — — 3,325 28 Alt-A and other 3,278 34 (39 ) (5 ) — — (185 ) (148 ) — — 2,940 28 Obligations of states and political subdivisions 1,205 — (2 ) (2 ) — — — (191 ) — — 1,012 — Manufactured housing 575 — (4 ) (4 ) — — — (15 ) — — 556 — Total available-for-sale mortgage-related securities 27,767 132 (215 ) (83 ) 1,772 — (937 ) (1,100 ) 714 (272 ) 27,861 74 Trading, at fair value: Mortgage-related securities: Freddie Mac 331 (5 ) — (5 ) 50 11 (139 ) (2 ) 8 (131 ) 123 (2 ) Fannie Mae 41 1 — 1 — — (13 ) — — — 29 (1 ) Other 2 — — — — — — (1 ) — — 1 — Total trading mortgage-related securities 374 (4 ) — (4 ) 50 11 (152 ) (3 ) 8 (131 ) 153 (3 ) Other assets: Guarantee asset 1,753 58 — 58 142 16 — (75 ) — — 1,894 58 Realized and unrealized (gains) losses Balance, Included in earnings (1) Included in other comprehensive income (1) Total Purchases Issues Sales Settlements, net Transfers into Level 3 (2) Transfers out of Level 3 (2) Balance, Unrealized (gains) losses still held (in millions) Liabilities Net derivatives (2) $ 8 $ 18 $ — $ 18 $ — $ — $ — $ (15 ) $ — $ — $ 11 $ 3 Other liabilities: All other, at fair value 10 (2 ) — (2 ) — — — — — — 8 8 Three Months Ended March 31, 2015 Realized and unrealized gains (losses) Balance, January 1, 2015 Included in earnings Included in other comprehensive income Total Purchases Issues Sales Settlements, net Transfers into Level 3 Transfers out of Level 3 Balance, March 31, 2015 Unrealized gains (losses) still held (in millions) Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $ 4,231 $ — $ (2 ) $ (2 ) $ 1,010 $ — $ (654 ) $ 22 $ — $ (1,924 ) $ 2,683 $ — Fannie Mae 85 — 1 1 — — — (7 ) 43 (9 ) 113 — Ginnie Mae 4 — — — — — — (1 ) — — 3 — CMBS 3,474 (17 ) 101 84 — — — (6 ) — — 3,552 (17 ) Subprime 20,589 192 12 204 — — (2,892 ) (102 ) — — 17,799 (65 ) Option ARM 5,649 11 (29 ) (18 ) — — (168 ) (187 ) — — 5,276 (11 ) Alt-A and other 5,027 6 (11 ) (5 ) — — (106 ) (143 ) 15 — 4,788 (1 ) Obligations of states and political subdivisions 2,198 — (5 ) (5 ) — — — (366 ) — — 1,827 — Manufactured housing 638 — (1 ) (1 ) — — (4 ) (14 ) — — 619 — Total available-for-sale mortgage-related securities 41,895 192 66 258 1,010 — (3,824 ) (804 ) 58 (1,933 ) 36,660 (94 ) Trading, at fair value: Mortgage-related securities: Freddie Mac 927 2 — 2 44 128 (5 ) (10 ) 34 (609 ) 511 2 Fannie Mae 232 2 — 2 — — (2 ) (2 ) 6 (97 ) 139 2 Ginnie Mae 1 — — — — — (1 ) — — — — — Other 4 4 — 4 — — (4 ) — — — 4 — Total trading mortgage-related securities 1,164 8 — 8 44 128 (12 ) (12 ) 40 (706 ) 654 4 Other assets: Guarantee asset 1,626 (15 ) — (15 ) — 93 — (135 ) — — 1,569 (15 ) All other, at fair value 5 1 — 1 — — — — — — 6 1 Total other assets 1,631 (14 ) — (14 ) — 93 — (135 ) — — 1,575 (14 ) Realized and unrealized (gains) losses Balance, January 1, 2015 Included in earnings (1) Included in other comprehensive income (1) Total Purchases Issues Sales Settlements, net Transfers into Level 3 Transfers out of Level 3 Balance, Unrealized (gains) losses still held (in millions) Liabilities Net derivatives (2) $ 10 $ 25 $ — $ 25 $ — $ — $ — $ (10 ) $ — $ — $ 25 $ 15 (1) Transfers out of Level 3 during the three months ended March 31, 2016 consisted primarily of certain mortgage-related securities due to an increased volume and level of activity in the market and availability of price quotes from dealers and third-party pricing services. Freddie Mac securities are generally classified as Level 3 at issuance and generally are classified as Level 2 when they begin trading. Transfers into Level 3 during the three months ended March 31, 2016 consisted primarily of certain mortgage-related securities due to a lack of market activity and relevant price quotes from dealers and third-party pricing services. (2) Amounts are prior to counterparty netting, cash collateral netting, net trade/settle receivable or payable and net derivative interest receivable or payable.
Table - Quantitative Information about Recurring Level 3 Fair Value Measurements	The table below provides valuation techniques, the range, and the weighted average of significant unobservable inputs for assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis using unobservable inputs (Level 3). March 31, 2016 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs (dollars in millions) Type Range Weighted Average Recurring fair value measurements Assets Investments in securities Available-for-sale, at fair value Mortgage-related securities Freddie Mac $ 3,699 Discounted cash flows OAS (38) - 491 bps 97 bps 670 Other Total Freddie Mac 4,369 Fannie Mae 36 Median of external sources 33 Single external source 15 Other Total Fannie Mae 84 Ginnie Mae 1 Discounted cash flows Total Ginnie Mae 1 CMBS 3,610 Risk Metrics Effective duration 2.90 - 10.77 years 9.32 years 17 Other Total CMBS 3,627 Subprime, option ARM, and Alt-A: Subprime 11,406 Median of external sources External pricing sources $70.2 - $74.2 $ 72.1 541 Other Total subprime 11,947 Option ARM 3,093 Median of external sources External pricing sources $64.6 - $69.5 $ 67.3 232 Other Total option ARM 3,325 Alt-A and other 2,153 Median of external sources External pricing sources $84.9 - $88.2 $ 86.7 477 Single external source External pricing source $83.8 - $83.8 $ 83.8 310 Other Total Alt-A and other 2,940 Obligations of states and political subdivisions 917 Median of external sources External pricing sources $101.5 - $101.9 $ 101.7 95 Other Total obligations of states and political subdivisions 1,012 Manufactured housing 485 Median of external sources External pricing sources $90.0 - $93.3 $ 91.5 71 Other Total manufactured housing 556 Total available-for-sale mortgage-related securities 27,861 Trading, at fair value Mortgage-related securities Freddie Mac 95 Discounted cash flows 11 Risk Metrics 17 Other Total Freddie Mac 123 Fannie Mae 29 Discounted cash flows Total Fannie Mae 29 Ginnie Mae — Other 1 Discounted cash flows Total other 1 Total trading mortgage-related securities 153 Total investments in securities $ 28,014 Other assets: Guarantee asset, at fair value $ 1,763 Discounted cash flows OAS 17 - 198 bps 58 bps 131 Other Total guarantee asset, at fair value 1,894 Liabilities Net derivatives 11 Other Total net derivatives 11 Other liabilities All other, at fair value 8 Other Total all other, at fair value 8 December 31, 2015 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs (dollars in millions) Type Range Weighted Average Recurring fair value measurements Assets Investments in securities Available-for-sale, at fair value Mortgage-related securities Freddie Mac $ 2,145 Discounted cash flows OAS (46) - 503 bps 86 bps 463 Other Total Freddie Mac 2,608 Fannie Mae 37 Median of external sources 36 Single external source 17 Other Total Fannie Mae 90 Ginnie Mae 1 Discounted cash flows Total Ginnie Mae 1 CMBS 3,530 Risk Metrics Effective duration 3.15 - 11.02 years 9.57 years Total CMBS 3,530 Subprime, option ARM, and Alt-A: Subprime 11,652 Median of external sources External pricing sources $73.2 - $77.3 $ 75.0 1,150 Other Total subprime 12,802 Option ARM 3,190 Median of external sources External pricing sources $67.8 - $72.4 $ 69.9 488 Other Total option ARM 3,678 Alt-A and other 2,601 Median of external sources External pricing sources $85.8 - $89.3 $ 87.6 506 Single external source External pricing source $84.7 - $84.7 $ 84.7 171 Other Total Alt-A and other 3,278 Obligations of states and political subdivisions 1,099 Median of external sources External pricing sources $101.4 - $101.8 $ 101.6 106 Other Total obligations of states and political subdivisions 1,205 Manufactured housing 505 Median of external sources External pricing sources $90.4 - $93.7 $ 92.1 70 Other Total manufactured housing 575 Total available-for-sale mortgage-related securities 27,767 Trading, at fair value Mortgage-related securities Freddie Mac 249 Discounted cash flows OAS (1,315) - 1,959 bps 129 bps 19 Risk Metrics 63 Other Total Freddie Mac 331 Fannie Mae 41 Discounted cash flows Total Fannie Mae 41 Ginnie Mae — Other 1 Median of external sources 1 Discounted cash flows Total other 2 Total trading mortgage-related securities 374 Total investments in securities $ 28,141 Other assets: Guarantee asset, at fair value $ 1,623 Discounted cash flows OAS 17 - 198 bps 57 bps 130 Other Total guarantee asset, at fair value 1,753 Liabilities Net derivatives 8 Other Total net derivatives 8 Other liabilities All other, at fair value 10 Other Total all other, at fair value 10
Table - Quantitative Information about Non-Recurring Level 3 Fair Value Measurements	The table below provides valuation techniques, the range, and the weighted average of significant unobservable inputs for assets and liabilities measured on our consolidated balance sheets at fair value on a non-recurring basis using unobservable inputs (Level 3). Certain of the fair values in the table below were not obtained as of the period end, but were obtained during the period. March 31, 2016 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs (dollars in millions) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $ 3,729 Internal model Historical sales $3,000 - $788,699 $191,075 Internal model Housing sales index 41 - 470 bps 91 bps Third-party appraisal Property value $1 million - $30 million $28 million Income capitalization (1) Capitalization rates 6% - 9% 6% Median of external sources External pricing sources $38.1 - $94.1 $69.4 REO, net $ 839 Internal model Historical sales proceeds $3,000 - $677,440 $154,037 Internal model Housing sales index 43 - 470 bps 88 bps Other December 31, 2015 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs (dollars in millions) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $ 5,851 Internal model Historical sales $3,000 - $788,699 $191,957 Internal model Housing sales index 44 - 428 bps 90 bps Third-party appraisal Property value $1 million - $30 million $28 million Income capitalization (1) Capitalization rates 6%- 9% 7% Median of external sources External pricing sources $39.0 - $94.6 $70.0 REO, net $ 1,046 Internal model Historical sales proceeds $3,000 - $581,751 $155,885 Internal model Housing sales index 44 - 428 bps 87 bps Other (1) The predominant valuation technique used for multifamily loans. Certain loans in this population are valued using other techniques, and the capitalization rate for those is not represented in the “Range” or “Weighted Average” above.
Table - Fair Value of Financial Instruments	The table below presents the carrying value and estimated fair value of our financial instruments. For certain types of financial instruments, such as cash and cash equivalents, restricted cash and cash equivalents, securities purchased under agreements to resell, and advances to lenders, the carrying value on our GAAP balance sheets approximates fair value, and these assets are short-term in nature and have limited market value volatility. March 31, 2016 Fair Value (in millions) GAAP Carrying Amount Level 1 Level 2 Level 3 Netting Adjustments Total Financial Assets Cash and cash equivalents $ 6,158 $ 6,158 $ — $ — $ — $ 6,158 Restricted cash and cash equivalents 16,671 16,671 — — — 16,671 Securities purchased under agreements to resell 40,098 — 40,098 — — 40,098 Investments in securities: Available-for-sale, at fair value 71,124 — 43,263 27,861 — 71,124 Trading, at fair value 36,471 15,238 21,080 153 — 36,471 Total investments in securities 107,595 15,238 64,343 28,014 — 107,595 Mortgage loans: Loans held by consolidated trusts 1,635,242 — 1,517,455 155,576 — 1,673,031 Loans held by Freddie Mac 127,391 — 37,180 91,380 — 128,560 Total mortgage loans 1,762,633 — 1,554,635 246,956 — 1,801,591 Derivative assets, net 814 — 14,081 23 (13,290 ) 814 Guarantee asset 1,894 — — 2,104 — 2,104 Non-derivative purchase commitments, at fair value 74 — 106 8 — 114 Advances to lenders 680 — — 680 — 680 Total financial assets $ 1,936,617 $ 38,067 $ 1,673,263 $ 277,785 $ (13,290 ) $ 1,975,825 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $ 1,568,183 $ — $ 1,656,668 $ 3,516 $ — $ 1,660,184 Other debt 387,435 — 388,906 5,950 — 394,856 Total debt, net 1,955,618 — 2,045,574 9,466 — 2,055,040 Derivative liabilities, net 1,632 — 20,375 34 (18,777 ) 1,632 Guarantee obligation 1,808 — — 3,303 — 3,303 Non-derivative purchase commitments, at fair value 24 — 29 28 — 57 Total financial liabilities $ 1,959,082 $ — $ 2,065,978 $ 12,831 $ (18,777 ) $ 2,060,032 December 31, 2015 Fair Value (in millions) GAAP Carrying Amount Level 1 Level 2 Level 3 Netting Adjustments Total Financial Assets Cash and cash equivalents $ 5,595 $ 5,595 $ — $ — $ — $ 5,595 Restricted cash and cash equivalents 14,533 14,533 — — — 14,533 Securities purchased under agreements to resell 63,644 — 63,644 — — 63,644 Investments in securities: Available-for-sale, at fair value 74,937 — 47,170 27,767 — 74,937 Trading, at fair value 39,278 17,151 21,753 374 — 39,278 Total investments in securities 114,215 17,151 68,923 28,141 — 114,215 Mortgage loans: Loans held by consolidated trusts 1,625,184 — 1,477,251 162,947 — 1,640,198 Loans held by Freddie Mac 129,009 — 31,831 97,133 — 128,964 Total mortgage loans 1,754,193 — 1,509,082 260,080 — 1,769,162 Derivative assets, net 395 — 9,766 25 (9,396 ) 395 Guarantee asset 1,753 — — 1,958 — 1,958 Advances to lenders 910 — 910 — — 910 Total financial assets $ 1,955,238 $ 37,279 $ 1,652,325 $ 290,204 $ (9,396 ) $ 1,970,412 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $ 1,556,121 $ — $ 1,624,019 $ 805 $ — $ 1,624,824 Other debt 414,306 — 412,752 6,586 — 419,338 Total debt, net 1,970,427 — 2,036,771 7,391 — 2,044,162 Derivative liabilities, net 1,254 — 12,378 33 (11,157 ) 1,254 Guarantee obligation 1,729 — — 3,129 — 3,129 Total financial liabilities $ 1,973,410 $ — $ 2,049,149 $ 10,553 $ (11,157 ) $ 2,048,545
Table - Difference between Fair Value and Unpaid Principal Balance for Certain Financial Instruments with Fair Value Option Elected	The table below presents the fair value and UPB related to certain items for which we have elected the fair value option. March 31, 2016 December 31, 2015 (in millions) Multifamily Held-For-Sale Loans Other Debt - Long Term Multifamily Held-For-Sale Loans Other Debt - Long Term Fair value $ 22,415 $ 6,793 $ 17,660 $ 7,045 Unpaid principal balance 21,995 6,842 17,673 7,093 Difference $ 420 $ (49 ) $ (13 ) $ (48 )

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
	Mar. 31, 2016
Mortgage Banking [Abstract]
Table - Net Worth and Minimum Capital	The table below summarizes our minimum capital requirements and deficits and net worth. (in millions) March 31, 2016 December 31, 2015 GAAP net worth $ 1,000 $ 2,940 Core capital (deficit) (1)(2) $ (72,643 ) $ (70,549 ) Less: Minimum capital requirement (1) 19,057 19,687 Minimum capital surplus (deficit) (1) $ (91,700 ) $ (90,236 ) (1) Core capital and minimum capital figures are estimates and represent amounts submitted to FHFA. FHFA is the authoritative source for our regulatory capital. (2) Core capital excludes certain components of GAAP total equity (i.e., AOCI and the liquidation preference of the senior preferred stock) as these items do not meet the statutory definition of core capital.

Selected Financial Statement 34

Selected Financial Statement Line Items (Tables)	3 Months Ended
	Mar. 31, 2016
Selected Financial Statement Data [Abstract]
Table - Significant Components of Other Income (Loss) on Our Consolidated Statements of Comprehensive Income	The table below presents the significant components of other income (loss) and other expense on our consolidated statements of comprehensive income. Three Months Ended March 31, (in millions) 2016 2015 Other income (loss): Gains (losses) on loans $ 478 $ (200 ) Gains (losses) on debt recorded at fair value 13 (189 ) Other 456 400 Total other income (loss) $ 947 $ 11 Other expense: Property tax and insurance expense on held-for-sale loans $ (27 ) $ (360 ) Other expense (126 ) (103 ) Total other expense $ (153 ) $ (463 )
Table - Significant Components of Other Assets and Other Liabilities on Our Consolidated Balance Sheets	The table below presents the significant components of other assets and other liabilities on our consolidated balance sheets. Previously reported amounts have been revised to conform to the current presentation to reflect our adoption of ASU 2015-03. (in millions) March 31, 2016 December 31, 2015 Other assets: Accounts and other receivables (1) $ 4,960 $ 3,625 Current income tax receivable 753 26 Guarantee asset 1,894 1,753 Advances to lenders 680 910 Fixed assets 526 502 All other 533 497 Total other assets $ 9,346 $ 7,313 Other liabilities: Servicer liabilities $ 1,071 $ 1,191 Guarantee obligation 1,808 1,729 Accounts payable and accrued expenses 1,159 1,286 All other 765 1,040 Total other liabilities $ 4,803 $ 5,246 (1) Primarily consists of servicer receivables and other non-interest receivables.

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Details) $ in Millions	Jan. 01, 2016USD ($)
Accounting Standards Update 2015 03 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 158

Conservatorship and Related M36

Conservatorship and Related Matters (Details)	3 Months Ended
	Mar. 31, 2016USD ($)
Related Party Transaction [Line Items]
Maximum limit of the UPB of mortgage-related investments portfolio	$ 339,300,000,000
Maximum percentage of annual cap established by the Purchase Agreement	90.00%
Minimum limit of the UPB of mortgage-related investments portfolio	$ 250,000,000,000
UPB of mortgage-related investments portfolio	$ 339,900,000,000
Annual percentage reduction of the mortgage-related investments portfolio	15.00%
Draw received	$ 0
Aggregate dividend payments since conservatorship began	98,200,000,000
CSS
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 30,000,000

Securitization and Guarantee 37

Securitization and Guarantee Activities - Consolidated VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Assets [Abstract]
Restricted cash and cash equivalents (Notes 3, 12)	$ 16,671	$ 14,533
Securities purchased under agreements to resell (Notes 3, 8)	40,098	63,644
Mortgage loans held-for-sale	27,085	24,992
Mortgage loans held-for-investment	1,735,548	1,729,201
Accrued interest receivable	6,091	6,074
Real estate owned, net	1,571	1,725
Other assets	9,346	7,313
Total assets	1,969,100	1,985,892
Liabilities [Abstract]
Accrued interest payable	6,047	6,183
Debt, net	1,955,618	1,970,269
Other liabilities	4,803	5,246
Total liabilities	1,968,100	1,982,952
Held by consolidated trusts
Assets [Abstract]
Restricted cash and cash equivalents (Notes 3, 12)	16,316	14,529
Securities purchased under agreements to resell (Notes 3, 8)	17,350	14,840
Mortgage loans held-for-sale	277	1,403
Mortgage loans held-for-investment	1,635,242	1,625,184
Accrued interest receivable	5,373	5,305
Real estate owned, net	37	40
Other assets	3,743	2,591
Total assets	1,678,338	1,663,892
Liabilities [Abstract]
Accrued interest payable	4,760	4,763
Debt, net	1,568,183	1,556,121
Other liabilities	1	6
Total liabilities	$ 1,572,944	$ 1,560,890

Securitization and Guarantee 38

Securitization and Guarantee Activities - Variable Interests in VIEs for which We are not the Primary Beneficiary (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Assets [Abstract]
Investments in securities	$ 107,595	$ 114,215
Accrued interest receivable	6,091	6,074
Other Assets	9,346	7,313
Liabilities [Abstract]
Other Liabilities	(4,803)	(5,246)
Freddie Mac Securities
Assets [Abstract]
Investments in securities	49,046	49,040
Accrued interest receivable	211	200
Other Assets	1,371	1,232
Liabilities [Abstract]
Other Liabilities	(1,283)	(1,230)
Maximum Exposure to Loss	122,474	114,193
Total Assets of Non-Consolidated VIEs	$ 144,497	$ 134,900

Securitization and Guarantee 39

Securitization and Guarantee Activities - Financial Guarantees (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Guarantor Obligations [Line Items]
Recognized Liability	$ 1,808	$ 1,729
Reserve for guarantee losses	74	76	$ 122
Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	13,784	13,067
Recognized Liability	$ 616	$ 596
Maximum Remaining Term	35 years	38 years
Derivative Instruments
Guarantor Obligations [Line Items]
Maximum Exposure	$ 17,729	$ 17,894
Recognized Liability	$ 178	$ 151
Maximum Remaining Term	29 years	30 years
K Certificates and other securitization products | Payment Guarantee
Guarantor Obligations [Line Items]
Maximum Exposure	$ 122,474	$ 114,193
Recognized Liability	$ 1,195	$ 1,136
Maximum Remaining Term	39 years	40 years

Securitization and Guarantee 40

Securitization and Guarantee Activities - Multifamily Credit Enhancements (Details) - Multifamily - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	$ 116,944	$ 108,499
Credit protected mortgage loans Maximum Coverage	21,328	19,930
K Certificates
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	109,109	101,473
Credit protected mortgage loans Maximum Coverage	19,696	18,453
Other Securitization Products
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	7,835	7,026
Credit protected mortgage loans Maximum Coverage	$ 1,632	$ 1,477

Mortgage Loans and Loan Loss 41

Mortgage Loans and Loan Loss Reserves (Details)	3 Months Ended
	Mar. 31, 2016USD ($)numberofloans	Mar. 31, 2015USD ($)numberofloans	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivables [Line Items]
Percent of Single-Family Credit Guarantee portfolio with second lien financing by third parties at origination	12.00%		13.00%
Pool insurance purchased since March 2008 single-family loans	$ 0
Noncash acquisition, mortgage loans held-for-investment acquired	42,500,000,000	$ 55,100,000,000
Transfers from advances to lenders to loans HFI	3,800,000,000	800,000,000
Real Estate Owned, Transfer to Real Estate Owned	$ 400,000,000	$ 600,000,000
Held by Freddie Mac
Accounts, Notes, Loans and Financing Receivables [Line Items]
Allowance for loan losses as a percentage of recorded investment of mortgage loans, held for investment	10.40%		10.80%
Held by consolidated trusts
Accounts, Notes, Loans and Financing Receivables [Line Items]
Allowance for loan losses as a percentage of recorded investment of mortgage loans, held for investment	0.20%		0.20%
Other loss mitigation activities
Accounts, Notes, Loans and Financing Receivables [Line Items]
Number of Loans, Modifications, Subsequent Default | numberofloans	2,216	2,488
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 259,000,000	$ 346,000,000
Loans discharged from Chapter 7 bankruptcy
Accounts, Notes, Loans and Financing Receivables [Line Items]
Number of Loans, Modifications, Subsequent Default | numberofloans	336	695
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 40,000,000	$ 94,000,000
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
Financing Receivable, Significant Purchases	68,200,000,000	79,200,000,000
Financing Receivable, Significant Sales	800,000,000	300,000,000
Amount of mortgage loans reclassified to held-for-sale	$ 400,000,000	$ 3,600,000,000
Number of Loans, Modifications, Subsequent Default | numberofloans	4,757	5,095
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 761,000,000	$ 906,000,000
Interest rate reduction and term extension types, percentage of completed modifications	41.00%
Principal forebearance and interest rate reductions and term extension types, percentage of completed modifications	16.00%
Average term extension, number of months of completed modifications	181 months
Average interest rate reduction, percentage of completed modifications	0.80%
Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
Financing Receivable, Significant Purchases	$ 800,000,000	800,000,000
Financing Receivable, Significant Sales	$ 10,800,000,000	$ 5,100,000,000
Number of Loans, Modifications, Subsequent Default | numberofloans	0	0
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 0	$ 0

Mortgage Loans and Loan Loss 42

Mortgage Loans and Loan Loss Reserves - Mortgage Loans (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	$ 28,288	$ 27,329
Cost basis and fair value adjustments, net HFS	(1,203)	(2,337)
Total held-for-sale loans	27,085	24,992
UPB of mortgage loans - HFI	1,724,317	1,719,338
Cost basis adjustment HFI	25,752	25,194
Allowance for loan losses on mortgage loans held-for-investment	(14,521)	(15,331)
Total held-for-investment mortgage loans, net	1,735,548	1,729,201
Total loans, net	1,762,633	1,754,193
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	4,724	7,747
UPB of mortgage loans - HFI	1,694,809	1,688,122
Allowance for loan losses on mortgage loans held-for-investment	(14,486)	(15,292)
Total held-for-investment mortgage loans, net	1,706,090	1,698,037
Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	23,564	19,582
UPB of mortgage loans - HFI	29,508	31,216
Allowance for loan losses on mortgage loans held-for-investment	(35)	(39)
Total held-for-investment mortgage loans, net	29,458	31,164
Held by Freddie Mac
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	27,907	25,627
Cost basis and fair value adjustments, net HFS	(1,099)	(2,038)
Total held-for-sale loans	26,808	23,589
UPB of mortgage loans - HFI	115,345	120,037
Cost basis adjustment HFI	(3,338)	(3,465)
Allowance for loan losses on mortgage loans held-for-investment	(11,701)	(12,555)	$ (16,094)
Total held-for-investment mortgage loans, net	100,306	104,017
Total loans, net	127,114	127,606
Held by Freddie Mac | Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	4,343	6,045
UPB of mortgage loans - HFI	87,527	90,532
Allowance for loan losses on mortgage loans held-for-investment	(11,667)	(12,516)	(16,020)	$ (18,800)
Held by Freddie Mac | Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	23,564	19,582
UPB of mortgage loans - HFI	27,818	29,505
Allowance for loan losses on mortgage loans held-for-investment	(34)		(74)
Held by consolidated trusts
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	381	1,702
Cost basis and fair value adjustments, net HFS	(104)	(299)
Total held-for-sale loans	277	1,403
UPB of mortgage loans - HFI	1,608,972	1,599,301
Cost basis adjustment HFI	29,090	28,659
Allowance for loan losses on mortgage loans held-for-investment	(2,820)	(2,776)	(2,554)
Total held-for-investment mortgage loans, net	1,635,242	1,625,184
Total loans, net	1,635,519	1,626,587
Held by consolidated trusts | Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	381	1,702
UPB of mortgage loans - HFI	1,607,282	1,597,590
Allowance for loan losses on mortgage loans held-for-investment	(2,819)	(2,775)	(2,554)	$ (2,884)
Held by consolidated trusts | Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	0	0
UPB of mortgage loans - HFI	1,690	$ 1,711
Allowance for loan losses on mortgage loans held-for-investment	$ (1)		$ 0

Mortgage Loans and Loan Loss 43

Mortgage Loans and Loan Loss Reserves - Recorded Investment of Held-For-Investment Mortgage Loans, by LTV Ratio (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,750,069	$ 1,744,532
Single-Family serious delinquency rate	1.20%	1.32%
UPB for Single-family reduced interest rate provision	$ 37,200	$ 38,300
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	1,325,553	1,314,068
Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	283,889	285,610
Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	63,384	65,028
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	47,750	48,623
Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,720,576	$ 1,713,329
Single-Family serious delinquency rate	1.20%	1.32%
Less Than Or Equal To 80 Estimated Current LTV Ratio | Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,045,142	$ 1,020,227
Less Than Or Equal To 80 Estimated Current LTV Ratio | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	271,010	271,456
Less Than Or Equal To 80 Estimated Current LTV Ratio | Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	58,696	59,724
Less Than Or Equal To 80 Estimated Current LTV Ratio | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	27,742	27,014
Less Than Or Equal To 80 Estimated Current LTV Ratio | Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	1,402,590	1,378,421
Greater Than 80 Through 100 Estimated Current LTV Ratio | Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	234,710	242,948
Greater Than 80 Through 100 Estimated Current LTV Ratio | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	11,380	12,400
Greater Than 80 Through 100 Estimated Current LTV Ratio | Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	4,498	5,055
Greater Than 80 Through 100 Estimated Current LTV Ratio | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	12,469	13,124
Greater Than 80 Through 100 Estimated Current LTV Ratio | Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	263,057	273,527
Greater Than 100 Estimated Current LTV Ratio | Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	45,701	50,893
Greater Than 100 Estimated Current LTV Ratio | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	1,499	1,754
Greater Than 100 Estimated Current LTV Ratio | Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	190	249
Greater Than 100 Estimated Current LTV Ratio | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	7,539	8,485
Greater Than 100 Estimated Current LTV Ratio | Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 54,929	$ 61,381
Single-Family serious delinquency rate	6.01%	6.03%

Mortgage Loans and Loan Loss 44

Mortgage Loans and Loan Loss Reserves - Recorded Investment of Multifamily Mortgage Loans, by Credit Classification (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,750,069	$ 1,744,532
Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	29,493	31,203
Pass | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	28,233	29,660
Special Mention | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	879	1,135
Substandard | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	381	408
Doubtful | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 0	$ 0

Mortgage Loans and Loan Loss 45

Mortgage Loans and Loan Loss Reserves - Payment Status of Mortgage Loans (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 1,713,061	$ 1,703,456
Total recorded investment	1,750,069	1,744,532
Non-Accrual	15,149	15,786
Mortgage Loans in Process of Foreclosure, Amount	7,000	7,000
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,295,280	1,280,247
Total recorded investment	1,325,553	1,314,068
Non-Accrual	12,065	12,603
Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	282,599	284,137
Total recorded investment	283,889	285,610
Non-Accrual	342	355
Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	62,757	64,326
Total recorded investment	63,384	65,028
Non-Accrual	232	255
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	42,932	43,543
Total recorded investment	47,750	48,623
Non-Accrual	2,390	2,403
Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,683,568	1,672,253
Total recorded investment	1,720,576	1,713,329
Non-Accrual	15,029	15,616
Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	29,493	31,203
Total recorded investment	29,493	31,203
Non-Accrual	120	170
One month past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	16,833	19,434
One month past due | Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	13,937	16,178
One month past due | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	788	935
One month past due | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	312	359
One month past due | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,796	1,962
One month past due | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	16,833	19,434
One month past due | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	0	0
Two months past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	5,143	6,022
Two months past due | Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	4,269	5,037
Two months past due | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	160	183
Two months past due | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	83	88
Two months past due | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	631	714
Two months past due | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	5,143	6,022
Two months past due | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	0	0
Three months or more past due or in foreclosure
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	15,032	15,620
Three months or more past due or in foreclosure | Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	12,067	12,606
Three months or more past due or in foreclosure | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	342	355
Three months or more past due or in foreclosure | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	232	255
Three months or more past due or in foreclosure | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	2,391	2,404
Three months or more past due or in foreclosure | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	15,032	15,620
Three months or more past due or in foreclosure | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	$ 0	$ 0

Mortgage Loans and Loan Loss 46

Mortgage Loans and Loan Loss Reserves - Delinquency Rates (Details) $ in Millions	Mar. 31, 2016USD ($)numberofloans	Dec. 31, 2015USD ($)numberofloans
Delinquent Mortgage Loan Attributes [Line Items]
Serious delinquency rate	1.20%	1.32%
Single-family
Delinquent Mortgage Loan Attributes [Line Items]
Serious delinquency rate	1.20%	1.32%
Total number of seriously delinquent loans	128,044	141,255
Single-family | Non-credit-enhanced portfolio
Delinquent Mortgage Loan Attributes [Line Items]
Serious delinquency rate	1.20%	1.30%
Total number of seriously delinquent loans	95,941	105,071
Single-family | Credit-enhanced portfolio | Primary mortgage insurance
Delinquent Mortgage Loan Attributes [Line Items]
Serious delinquency rate	1.78%	2.06%
Total number of seriously delinquent loans	24,290	27,813
Single-family | Credit-enhanced portfolio | Other credit protection
Delinquent Mortgage Loan Attributes [Line Items]
Serious delinquency rate	0.49%	0.58%
Total number of seriously delinquent loans	8,888	9,422
Multifamily
Delinquent Mortgage Loan Attributes [Line Items]
Delinquency Rate	0.04%	0.02%
UPB of delinquent loans | $	$ 67	$ 39
Multifamily | Non-credit-enhanced portfolio
Delinquent Mortgage Loan Attributes [Line Items]
Delinquency Rate	0.03%	0.03%
UPB of delinquent loans | $	$ 19	$ 19
Multifamily | Credit-enhanced portfolio
Delinquent Mortgage Loan Attributes [Line Items]
Delinquency Rate	0.04%	0.02%
UPB of delinquent loans | $	$ 48	$ 20

Mortgage Loans and Loan Loss 47

Mortgage Loans and Loan Loss Reserves - Detail of Loan Loss Reserves (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Rollforward of Allowance for Loan Losses
Beginning balance	$ 15,331
Ending balance	14,521
Reserve For Guarantee Losses Rollforward
Beginning balance	76
Ending balance	74	$ 122
Rollforward of Total loan loss reserves
Provision (benefit) for credit losses	(467)	(499)
Ending balance	14,595	18,770
Capitalization of past due interest on modified loans
Rollforward of Total loan loss reserves
Transfers, net	100	100
Held by Freddie Mac
Rollforward of Allowance for Loan Losses
Beginning balance	12,555
Ending balance	11,701	16,094
Held by consolidated trusts
Rollforward of Allowance for Loan Losses
Beginning balance	2,776
Ending balance	2,820	2,554
Single-family
Rollforward of Allowance for Loan Losses
Beginning balance	15,292
Ending balance	14,486
Reserve For Guarantee Losses Rollforward
Beginning balance	57	109
Provision (benefit) for credit losses	2	(2)
Charge-offs	(2)	(2)
Recoveries	0	0
Transfers, net	0	0
Ending balance	57	105
Rollforward of Total loan loss reserves
Beginning balance	15,348	21,793
Provision (benefit) for credit losses	(462)	(496)
Charge-offs	(569)	(2,951)
Recoveries	128	174
Transfers, net	98	159
Ending balance	14,543	18,679
Single-family | Held by Freddie Mac
Rollforward of Allowance for Loan Losses
Beginning balance	12,516	18,800
Provision (benefit) for credit losses	(435)	(469)
Charge-offs	(499)	(2,781)
Recoveries	126	169
Transfers, net	(41)	301
Ending balance	11,667	16,020
Single-family | Held by consolidated trusts
Rollforward of Allowance for Loan Losses
Beginning balance	2,775	2,884
Provision (benefit) for credit losses	(29)	(25)
Charge-offs	(68)	(168)
Recoveries	2	5
Transfers, net	139	(142)
Ending balance	2,819	2,554
Multifamily
Rollforward of Allowance for Loan Losses
Beginning balance	39
Ending balance	35
Reserve For Guarantee Losses Rollforward
Ending balance	17	17
Rollforward of Total loan loss reserves
Ending balance	52	91
Multifamily | Held by Freddie Mac
Rollforward of Allowance for Loan Losses
Ending balance	34	74
Multifamily | Held by consolidated trusts
Rollforward of Allowance for Loan Losses
Ending balance	$ 1	$ 0

Mortgage Loans and Loan Loss 48

Mortgage Loans and Loan Loss Reserves - TDR Activity, By Segment (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)numberofloans	Mar. 31, 2015USD ($)numberofloans
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	12,845	16,738
Post TDR Recorded Investments	$ 1,767	$ 2,368
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	10,332	13,293
Post TDR Recorded Investments	$ 1,456	$ 1,919
Single-family 15-year amortizing fixed-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	1,318	1,652
Post TDR Recorded Investments	$ 94	$ 123
Single-family Adjustable-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	274	405
Post TDR Recorded Investments	$ 40	$ 57
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	919	1,388
Post TDR Recorded Investments	$ 169	$ 269
Single-family
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	12,843	16,738
Post TDR Recorded Investments	$ 1,759	$ 2,368
Pre-TDR Recorded Investments	$ 1,800	$ 2,400
Multifamily
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	2	0
Post TDR Recorded Investments	$ 8	$ 0

Mortgage Loans and Loan Loss 49

Mortgage Loans and Loan Loss Reserves - Payment Defaults of Completed TDR Modifications, by Segment (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)numberofloans	Mar. 31, 2015USD ($)numberofloans
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	3,992	4,307
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 634	$ 754
Single-family 15-year amortizing fixed-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	233	206
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 18	$ 18
Single-family Adjustable-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	73	68
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 11	$ 12
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	459	514
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 98	$ 122
Single-family
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	4,757	5,095
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 761	$ 906
Multifamily
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	0	0
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 0	$ 0

Mortgage Loans and Loan Loss 50

Mortgage Loans and Loan Loss Reserves - Individially Impaired Loans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
With specific allowance recorded [Abstract]
Impaired Financing Receivable, Related Allowance	$ 13,334		$ 14,040
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	95,724		95,844
Impaired Financing Receivable, Recorded Investment	91,780		92,003
Average Recorded Investment	91,695	$ 98,991
Interest Income Recognized	961	869
Interest Income Recognized On Cash Basis	92	104
Single-family 20 and 30-year or more, amortizing fixed-rate
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	5,324		4,957
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	4,000		3,724
Average Recorded Investment	4,015	3,012
Interest Income Recognized	102	88
Interest Income Recognized On Cash Basis	2	2
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	72,302		72,886
Impaired Financing Receivable, with Related Allowance, Recorded Investment	70,708		71,215
Impaired Financing Receivable, Related Allowance	10,667		11,245
Average Recorded Investment	70,731	76,264
Interest Income Recognized	685	632
Interest Income Recognized On Cash Basis	74	81
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	77,626		77,843
Impaired Financing Receivable, Recorded Investment	74,708		74,939
Average Recorded Investment	74,746	79,276
Interest Income Recognized	787	720
Interest Income Recognized On Cash Basis	76	83
Single-family 15-year amortizing fixed-rate
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	42		45
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	35		38
Average Recorded Investment	37	44
Interest Income Recognized	1	2
Interest Income Recognized On Cash Basis	0	0
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	957		975
Impaired Financing Receivable, with Related Allowance, Recorded Investment	961		978
Impaired Financing Receivable, Related Allowance	23		21
Average Recorded Investment	942	1,147
Interest Income Recognized	12	13
Interest Income Recognized On Cash Basis	2	3
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	999		1,020
Impaired Financing Receivable, Recorded Investment	996		1,016
Average Recorded Investment	979	1,191
Interest Income Recognized	13	15
Interest Income Recognized On Cash Basis	2	3
Single-family Adjustable-rate
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	223		194
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	220		191
Average Recorded Investment	222	33
Interest Income Recognized	2	1
Interest Income Recognized On Cash Basis	0	0
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	478		518
Impaired Financing Receivable, with Related Allowance, Recorded Investment	470		510
Impaired Financing Receivable, Related Allowance	27		28
Average Recorded Investment	461	788
Interest Income Recognized	5	4
Interest Income Recognized On Cash Basis	1	1
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	701		712
Impaired Financing Receivable, Recorded Investment	690		701
Average Recorded Investment	683	821
Interest Income Recognized	7	5
Interest Income Recognized On Cash Basis	1	1
Single-family Alt-A, interest-only, and option ARM
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	1,574		1,370
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	1,213		1,033
Average Recorded Investment	1,195	683
Interest Income Recognized	25	18
Interest Income Recognized On Cash Basis	1	0
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	14,390		14,409
Impaired Financing Receivable, with Related Allowance, Recorded Investment	13,755		13,839
Impaired Financing Receivable, Related Allowance	2,598		2,725
Average Recorded Investment	13,673	16,128
Interest Income Recognized	124	101
Interest Income Recognized On Cash Basis	10	13
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	15,964		15,779
Impaired Financing Receivable, Recorded Investment	14,968		14,872
Average Recorded Investment	14,868	16,811
Interest Income Recognized	149	119
Interest Income Recognized On Cash Basis	11	13
Single-family
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	7,163		6,566
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	5,468		4,986
Average Recorded Investment	5,469	3,772
Interest Income Recognized	130	109
Interest Income Recognized On Cash Basis	3	2
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	88,127		88,788
Impaired Financing Receivable, with Related Allowance, Recorded Investment	85,894		86,542
Impaired Financing Receivable, Related Allowance	13,315		14,019
Average Recorded Investment	85,807	94,327
Interest Income Recognized	826	750
Interest Income Recognized On Cash Basis	87	98
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	95,290		95,354
Impaired Financing Receivable, Recorded Investment	91,362		91,528
Average Recorded Investment	91,276	98,099
Interest Income Recognized	956	859
Interest Income Recognized On Cash Basis	90	100
Multifamily
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	277		341
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	270		333
Average Recorded Investment	271	518
Interest Income Recognized	3	6
Interest Income Recognized On Cash Basis	1	2
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	157		149
Impaired Financing Receivable, with Related Allowance, Recorded Investment	148		142
Impaired Financing Receivable, Related Allowance	19		21
Average Recorded Investment	148	374
Interest Income Recognized	2	4
Interest Income Recognized On Cash Basis	1	2
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	434		490
Impaired Financing Receivable, Recorded Investment	418		$ 475
Average Recorded Investment	419	892
Interest Income Recognized	5	10
Interest Income Recognized On Cash Basis	$ 2	$ 4

Mortgage Loans and Loan Loss 51

Mortgage Loans and Loan Loss Reserves - Net Investment in Mortgage Loans (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	$ 1,658,289	$ 1,652,529
Recorded investment, individually evaluated	91,780	92,003
Total recorded investment	1,750,069	1,744,532
Allowance for loan losses, collectively evaluated	(1,187)	(1,291)
Allowance for loan losses, individually evaluated	(13,334)	(14,040)
Total ending balance of the allowance	(14,521)	(15,331)
Total held-for-investment mortgage loans, net	1,735,548	1,729,201
Single-family
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	1,629,214	1,621,801
Recorded investment, individually evaluated	91,362	91,528
Total recorded investment	1,720,576	1,713,329
Allowance for loan losses, collectively evaluated	(1,171)	(1,273)
Allowance for loan losses, individually evaluated	(13,315)	(14,019)
Total ending balance of the allowance	(14,486)	(15,292)
Total held-for-investment mortgage loans, net	1,706,090	1,698,037
Multifamily
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	29,075	30,728
Recorded investment, individually evaluated	418	475
Total recorded investment	29,493	31,203
Allowance for loan losses, collectively evaluated	(16)	(18)
Allowance for loan losses, individually evaluated	(19)	(21)
Total ending balance of the allowance	(35)	(39)
Total held-for-investment mortgage loans, net	$ 29,458	$ 31,164

Mortgage Loans and Loan Loss 52

Mortgage Loans and Loan Loss Reserves - Recourse and Other Forms of Credit Protection (Details) - Single-family - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	$ 545,815	$ 512,193
Credit protected mortgage loans Maximum Coverage	92,568	89,770
Excluded credit protected mortgage loans UPB underlying other securitization products	8,000	8,300
Mortgage loan UPB covered by federal agency issued insurance or partial guarantee	3,100	3,200
Primary mortgage insurance
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	261,242	257,063
Credit protected mortgage loans Maximum Coverage	66,899	65,760
STACR debt note and ACIS transactions
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	271,291	241,450
Credit protected mortgage loans Maximum Coverage	16,842	14,916
Excluded credit protected mortgage loans UPB also covered by primary mortgage insurance	100,800	87,400
Lender recourse and indemnification
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	6,178	6,339
Credit protected mortgage loans Maximum Coverage	5,243	5,396
Pool insurance
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	1,633	1,706
Credit protected mortgage loans Maximum Coverage	720	753
Excluded credit protected mortgage loans UPB also covered by primary mortgage insurance	500	600
HFA indemnification
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	2,536	2,599
Credit protected mortgage loans Maximum Coverage	2,536	2,599
Subordination
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	2,920	3,021
Credit protected mortgage loans Maximum Coverage	319	336
Other credit enhancements
Recourse And Other Forms Of Credit Protection [Line Items]
Credit protected mortgage loans UPB	15	15
Credit protected mortgage loans Maximum Coverage	$ 9	$ 10

Investments in Securities (Deta

Investments in Securities (Details)	3 Months Ended
	Mar. 31, 2016USD ($)numberofsecuritiesnumberoflots	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Investments, Debt and Equity Securities [Abstract]
Held-to-maturity Securities	$ 0		$ 0
Individual lots in gross unrealized loss position | numberoflots	387
Separate securities in gross unrealized loss position | numberofsecurities	345
Net unrealized gains (losses) on trading securities held at balance sheets date	$ 197,000,000	$ 46,000,000

Investments in Securities - Inv

Investments in Securities - Investments in Securities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Trading Securities	$ 36,471	$ 39,278
Available-for-sale Securities	71,124	74,937
Total	$ 107,595	$ 114,215

Investments in Securities - Tra

Investments in Securities - Trading Securities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Trading Securities [Line Items]
Trading, at fair value	$ 36,471	$ 39,278
Mortage-related securities
Trading Securities [Line Items]
Trading, at fair value	21,233	22,127
Freddie Mac
Trading Securities [Line Items]
Trading, at fair value	14,771	15,513
Fannie Mae
Trading Securities [Line Items]
Trading, at fair value	6,182	6,438
Ginnie Mae
Trading Securities [Line Items]
Trading, at fair value	144	30
Other
Trading Securities [Line Items]
Trading, at fair value	136	146
Non-mortgage-related securities
Trading Securities [Line Items]
Trading, at fair value	$ 15,238	$ 17,151

Investments in Securities - Ava

Investments in Securities - Available-For-Sale Securities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 68,264	$ 72,261
Gross Unrealized Gains	3,458	3,251
Available-for-sale, at fair value	71,124	74,937
Freddie Mac
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	32,955	32,684
Gross Unrealized Gains	1,363	942
Available-for-sale, at fair value	34,275	33,527
Fannie Mae
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,616	7,033
Gross Unrealized Gains	276	265
Available-for-sale, at fair value	6,847	7,262
Ginnie Mae
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	143	150
Gross Unrealized Gains	12	12
Available-for-sale, at fair value	155	162
CMBS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	9,618	12,009
Gross Unrealized Gains	485	450
Available-for-sale, at fair value	10,067	12,448
Subprime
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	11,814	12,499
Gross Unrealized Gains	519	653
Available-for-sale, at fair value	11,947	12,802
Option ARM
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,159	3,423
Gross Unrealized Gains	238	317
Available-for-sale, at fair value	3,325	3,678
Alt-A and other
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,489	2,788
Gross Unrealized Gains	465	506
Available-for-sale, at fair value	2,940	3,278
Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	996	1,187
Gross Unrealized Gains	17	19
Available-for-sale, at fair value	1,012	1,205
Manufactured housing
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	474	488
Gross Unrealized Gains	83	87
Available-for-sale, at fair value	556	575
Other-than-temporary impairment
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(416)	(364)
Other-than-temporary impairment | Freddie Mac
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	0	0
Other-than-temporary impairment | Fannie Mae
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	0	0
Other-than-temporary impairment | Ginnie Mae
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	0	0
Other-than-temporary impairment | CMBS
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(13)	(2)
Other-than-temporary impairment | Subprime
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(327)	(295)
Other-than-temporary impairment | Option ARM
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(67)	(56)
Other-than-temporary impairment | Alt-A and other
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(8)	(11)
Other-than-temporary impairment | Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	0	0
Other-than-temporary impairment | Manufactured housing
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(1)	0
Temporary impairment
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(182)	(211)
Temporary impairment | Freddie Mac
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(43)	(99)
Temporary impairment | Fannie Mae
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(45)	(36)
Temporary impairment | Ginnie Mae
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	0	0
Temporary impairment | CMBS
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(23)	(9)
Temporary impairment | Subprime
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(59)	(55)
Temporary impairment | Option ARM
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(5)	(6)
Temporary impairment | Alt-A and other
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(6)	(5)
Temporary impairment | Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(1)	(1)
Temporary impairment | Manufactured housing
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	$ 0	$ 0

Investments in Securities - A57

Investments in Securities - Available-For-Sale Securities in a Gross Unrealized Loss Position (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	$ 8,102	$ 12,163
12 Months or Greater Fair Value	7,312	7,565
Less than 12 Months Gross Unrealized Losses	(131)	(127)
12 Months or Greater Gross Unrealized Losses	(467)	(448)
Freddie Mac
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	3,300	8,171
12 Months or Greater Fair Value	1,430	1,224
Less than 12 Months Gross Unrealized Losses	(26)	(64)
12 Months or Greater Gross Unrealized Losses	(17)	(35)
Fannie Mae
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	2,286	2,402
12 Months or Greater Fair Value	1,220	1,337
Less than 12 Months Gross Unrealized Losses	(27)	(24)
12 Months or Greater Gross Unrealized Losses	(18)	(12)
Ginnie Mae
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	0	0
12 Months or Greater Fair Value	53	55
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Gross Unrealized Losses	0	0
CMBS
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	175	396
12 Months or Greater Fair Value	144	160
Less than 12 Months Gross Unrealized Losses	(23)	(9)
12 Months or Greater Gross Unrealized Losses	(13)	(2)
Subprime
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	1,766	719
12 Months or Greater Fair Value	3,669	3,923
Less than 12 Months Gross Unrealized Losses	(30)	(21)
12 Months or Greater Gross Unrealized Losses	(356)	(329)
Option ARM
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	419	349
12 Months or Greater Fair Value	555	579
Less than 12 Months Gross Unrealized Losses	(22)	(8)
12 Months or Greater Gross Unrealized Losses	(50)	(54)
Alt-A and other
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	152	108
12 Months or Greater Fair Value	219	265
Less than 12 Months Gross Unrealized Losses	(3)	(1)
12 Months or Greater Gross Unrealized Losses	(11)	(15)
Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	4	18
12 Months or Greater Fair Value	8	8
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Gross Unrealized Losses	(1)	(1)
Manufactured housing
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	0	0
12 Months or Greater Fair Value	14	14
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Gross Unrealized Losses	$ (1)	$ 0

Investments in Securities - Sig

Investments in Securities - Significant Modeled Attributes for Certain Available-For-Sale Non-Agency Mortgage-Related Securities (Details) $ in Millions	Mar. 31, 2016USD ($)
Subprime
Schedule of Available-for-sale Securities [Line Items]
UPB	$ 16,462
Weighted average collateral defaults	42.00%
Weighted average collateral severities	63.00%
Weighted average voluntary prepayment rates	3.00%
Average credit enhancement	5.00%
Option ARM
Schedule of Available-for-sale Securities [Line Items]
UPB	$ 4,922
Weighted average collateral defaults	26.00%
Weighted average collateral severities	56.00%
Weighted average voluntary prepayment rates	11.00%
Average credit enhancement	(2.00%)
ALT-A
Schedule of Available-for-sale Securities [Line Items]
UPB	$ 2,376
Weighted average collateral defaults	22.00%
Weighted average collateral severities	45.00%
Weighted average voluntary prepayment rates	11.00%
Average credit enhancement	0.00%

Investments in Securities - Net

Investments in Securities - Net Impairment of Available-For-Sale Securities Recognized in Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Intent to sell	$ 52	$ 89
Other	5	4
Net impairment of available-for-sale securities recognized in earnings	$ 57	$ 93

Investments in Securities - Oth

Investments in Securities - Other-Than-Temporary Impairments Related to Credit Losses on Available-For-Sale Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Credit-related other-than-temporary impairments on available-for-sale securities recognized in earnings:
Beginning balance - remaining credit losses on available-for-sale securities where other-than-temporary impairments were recognized in earnings	$ 5,306	$ 6,798
Amounts related to credit losses on securities for which an other-than-temporary impairment was not previously recognized	0	0
Amounts related to credit losses on securities for which an other-than-temporary impairment was previously recognized	5	4
Amounts related to securities which were sold, written off or matured	(55)	(52)
Amounts related to securities for which we intend to sell or it is more likely than not that we will be required to sell before recovery of its amortized cost basis	(636)	(380)
Amounts related to amortization resulting from significant increases in cash flows expected to be collected and/or due to the passage of time that are recognized over the remaining life of the security	(69)	(89)
Ending balance - remaining credit losses on available-for-sale securities where other-than-temporary impairments were recognized in earnings	$ 4,551	$ 6,281

Investments in Securities - Gro

Investments in Securities - Gross Realized Gains and Gross Realized Losses on Sales of Available-For-Sale Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 80	$ 367
Gross realized losses	(8)	(5)
Net realized gains (losses)	$ 72	$ 362

Investments in Securities - Mat

Investments in Securities - Maturities of Available-For-Sale Securities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Amortized Cost
Due within 1 year or less	$ 172
Due after 1 through 5 years	49
Due after 5 through 10 years	1,890
Due after 10 years	66,153
Amortized Cost	68,264	$ 72,261
Fair Value
Due within 1 year or less	175
Due after 1 through 5 years	51
Due after 5 through 10 years	1,900
Due after 10 years	68,998
Fair Value	71,124	74,937
Freddie Mac
Amortized Cost
Due within 1 year or less	19
Due after 1 through 5 years	1
Due after 5 through 10 years	1,692
Due after 10 years	31,243
Amortized Cost	32,955	32,684
Fair Value
Due within 1 year or less	19
Due after 1 through 5 years	1
Due after 5 through 10 years	1,684
Due after 10 years	32,571
Fair Value	34,275	33,527
Fannie Mae
Amortized Cost
Due within 1 year or less	3
Due after 1 through 5 years	11
Due after 5 through 10 years	72
Due after 10 years	6,530
Amortized Cost	6,616	7,033
Fair Value
Due within 1 year or less	3
Due after 1 through 5 years	12
Due after 5 through 10 years	81
Due after 10 years	6,751
Fair Value	6,847	7,262
Ginnie Mae
Amortized Cost
Due within 1 year or less	0
Due after 1 through 5 years	1
Due after 5 through 10 years	21
Due after 10 years	121
Amortized Cost	143	150
Fair Value
Due within 1 year or less	0
Due after 1 through 5 years	1
Due after 5 through 10 years	24
Due after 10 years	130
Fair Value	155	162
CMBS
Amortized Cost
Due within 1 year or less	140
Due after 1 through 5 years	0
Due after 5 through 10 years	17
Due after 10 years	9,461
Amortized Cost	9,618	12,009
Fair Value
Due within 1 year or less	142
Due after 1 through 5 years	0
Due after 5 through 10 years	17
Due after 10 years	9,908
Fair Value	10,067	12,448
Subprime
Amortized Cost
Due within 1 year or less	0
Due after 1 through 5 years	0
Due after 5 through 10 years	0
Due after 10 years	11,814
Amortized Cost	11,814	12,499
Fair Value
Due within 1 year or less	0
Due after 1 through 5 years	0
Due after 5 through 10 years	0
Due after 10 years	11,947
Fair Value	11,947	12,802
Option ARM
Amortized Cost
Due within 1 year or less	0
Due after 1 through 5 years	0
Due after 5 through 10 years	0
Due after 10 years	3,159
Amortized Cost	3,159	3,423
Fair Value
Due within 1 year or less	0
Due after 1 through 5 years	0
Due after 5 through 10 years	0
Due after 10 years	3,325
Fair Value	3,325	3,678
Alt-A and other
Amortized Cost
Due within 1 year or less	0
Due after 1 through 5 years	13
Due after 5 through 10 years	6
Due after 10 years	2,470
Amortized Cost	2,489	2,788
Fair Value
Due within 1 year or less	0
Due after 1 through 5 years	13
Due after 5 through 10 years	7
Due after 10 years	2,920
Fair Value	2,940	3,278
Obligations of states and political subdivisions
Amortized Cost
Due within 1 year or less	10
Due after 1 through 5 years	23
Due after 5 through 10 years	75
Due after 10 years	888
Amortized Cost	996	1,187
Fair Value
Due within 1 year or less	11
Due after 1 through 5 years	24
Due after 5 through 10 years	78
Due after 10 years	899
Fair Value	1,012	1,205
Manufactured housing
Amortized Cost
Due within 1 year or less	0
Due after 1 through 5 years	0
Due after 5 through 10 years	7
Due after 10 years	467
Amortized Cost	474	488
Fair Value
Due within 1 year or less	0
Due after 1 through 5 years	0
Due after 5 through 10 years	9
Due after 10 years	547
Fair Value	$ 556	$ 575

Debt Securities and Subordina63

Debt Securities and Subordinated Borrowings (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Other Debt [Line Items]
Debt cap under Purchase Agreement for the current year	$ 479,000
Debt cap under Purchase Agreement for the following year	407,200
Securities Sold under Agreements to Repurchase	0	$ 0
Parent Company [Member]
Other Debt [Line Items]
Aggregate indebtedness as the par value of other debt	$ 391,322	$ 418,021

Debt Securities and Subordina64

Debt Securities and Subordinated Borrowings - Total Debt, Net (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Debt Net [Abstract]
Debt, net	$ 1,955,618,000,000		$ 1,970,269,000,000
Interest Expense [Abstract]
Interest Expense, Total	13,388,000,000	$ 13,088,000,000
Held by consolidated trusts
Debt Net [Abstract]
Debt, net	1,568,183,000,000		1,556,121,000,000
Interest Expense [Abstract]
Interest Expense, Total	11,791,000,000	11,487,000,000
Held by Freddie Mac
Debt Net [Abstract]
Short-term Debt Balance Net	85,128,000,000		113,569,000,000
Long-term Debt Balance, Net	302,307,000,000		300,579,000,000
Debt, net	387,435,000,000		$ 414,148,000,000
Interest Expense [Abstract]
Interest Expense, Short-term Borrowings	93,000,000	38,000,000
Interest Expense, Long-term Debt	1,504,000,000	1,563,000,000
Interest Expense, Total	$ 1,597,000,000	$ 1,601,000,000

Debt Securities and Subordina65

Debt Securities and Subordinated Borrowings - Debt Securities of Consolidated Trusts Held by Third Parties (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
Debt, net	$ 1,955,618	$ 1,970,269
Variable Interest Entity Primary Beneficiary
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	1,524,224	1,513,089
Debt, net	$ 1,568,183	$ 1,556,121
Effective rate for debt securities of consolidated trusts held by third parties	3.05%	3.06%
Variable Interest Entity Primary Beneficiary | Single-family
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	$ 1,522,534	$ 1,511,372
Debt, net	1,566,368	1,554,263
Variable Interest Entity Primary Beneficiary | Multifamily
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	1,690	1,717
Debt, net	$ 1,815	$ 1,858
Weighted Average Coupon	4.91%	4.90%
Variable Interest Entity Primary Beneficiary | Single-family 30-year or more, fixed-rate | Single-family
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	$ 1,107,363	$ 1,090,584
Debt, net	$ 1,141,139	$ 1,123,290
Weighted Average Coupon	3.85%	3.88%
Variable Interest Entity Primary Beneficiary | Single-family 20-year fixed-rate | Single-family
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	$ 74,054	$ 73,018
Debt, net	$ 76,302	$ 75,221
Weighted Average Coupon	3.58%	3.61%
Variable Interest Entity Primary Beneficiary | Single-family 15-year fixed-rate | Single-family
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	$ 266,078	$ 270,036
Debt, net	$ 272,450	$ 276,531
Weighted Average Coupon	2.99%	3.01%
Variable Interest Entity Primary Beneficiary | Single-family Adjustable-rate | Single-family
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	$ 60,613	$ 62,496
Debt, net	$ 61,973	$ 63,899
Weighted Average Coupon	2.62%	2.61%
Variable Interest Entity Primary Beneficiary | Single-family Interest-only | Single-family
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	$ 13,482	$ 14,252
Debt, net	$ 13,542	$ 14,317
Weighted Average Coupon	3.20%	3.16%
Variable Interest Entity Primary Beneficiary | FHA/VA | Single-family
Debt Securities Of Consolidated Trusts Held By Third Parties [Line Items]
UPB	$ 944	$ 986
Debt, net	$ 962	$ 1,005
Weighted Average Coupon	5.35%	5.37%

Debt Securities and Subordina66

Debt Securities and Subordinated Borrowings - Other Debt (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Long-term Debt [Abstract]
Debt, net	$ 1,955,618	$ 1,970,269
Long-term Debt, Fair Value	6,793	7,045
Balance Net Of Callable Other Long Term Debt	107,900	106,900
Held by Freddie Mac
Short-term Debt [Abstract]
Par Value	85,204	113,633
Carrying Amount	$ 85,128	$ 113,569
Weighted Average Effective Rate	0.40%	0.28%
Long-term Debt [Abstract]
Par Value	$ 306,118	$ 304,388
Carrying Amount	$ 302,307	$ 300,579
Weighted Average Interest Rate	1.97%	2.02%
Total par value	$ 391,322	$ 418,021
Debt, net	387,435	414,148
Held by Freddie Mac | 2016
Long-term Debt [Abstract]
Par Value	49,654	58,765
Carrying Amount	$ 49,675	$ 58,821
Weighted Average Interest Rate	2.17%	2.13%
Held by Freddie Mac | 2017
Long-term Debt [Abstract]
Par Value	$ 95,586	$ 91,544
Carrying Amount	$ 95,660	$ 91,636
Weighted Average Interest Rate	1.44%	1.48%
Held by Freddie Mac | 2018
Long-term Debt [Abstract]
Par Value	$ 54,118	$ 48,189
Carrying Amount	$ 54,149	$ 48,187
Weighted Average Interest Rate	1.42%	1.52%
Held by Freddie Mac | 2019
Long-term Debt [Abstract]
Par Value	$ 39,455	$ 31,352
Carrying Amount	$ 39,361	$ 31,259
Weighted Average Interest Rate	1.73%	1.84%
Held by Freddie Mac | 2020
Long-term Debt [Abstract]
Par Value	$ 16,732	$ 26,697
Carrying Amount	$ 16,705	$ 26,664
Weighted Average Interest Rate	1.88%	1.96%
Held by Freddie Mac | ThereAfter [Member]
Long-term Debt [Abstract]
Par Value	$ 50,573	$ 47,841
Carrying Amount	$ 46,757	$ 44,012
Weighted Average Interest Rate	3.70%	3.72%
Held by Freddie Mac | Reference Bills securites and discount notes
Short-term Debt [Abstract]
Par Value	$ 75,659	$ 104,088
Carrying Amount	$ 75,583	$ 104,024
Weighted Average Effective Rate	0.42%	0.28%
Held by Freddie Mac | Medium-term notes
Short-term Debt [Abstract]
Par Value	$ 9,545	$ 9,545
Carrying Amount	$ 9,545	$ 9,545
Weighted Average Effective Rate	0.20%	0.20%

Derivatives (Details)

Derivatives (Details)	3 Months Ended
	Mar. 31, 2016USD ($)category	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Number of derivative categories | category	3
Derivatives in Hedge Accounting Relationships	$ 0		$ 0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (51,000,000)	$ (65,000,000)

Derivatives - Derivative Assets

Derivatives - Derivative Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Netting adjustments to derivative assets	$ (14,454)	$ (10,210)
Derivative assets, net (Notes 7, 8)	814	395
Netting adjustments to derivative liabilities	20,394	12,550
Derivative liabilities, net	(1,632)	(1,254)
Net cash collateral posted	5,900	2,300
Commitments
Derivative [Line Items]
Derivative assets at fair value	126	34
Derivatives
Derivative [Line Items]
Net cash collateral posted	5,900	2,300
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional or contractual amount	737,098	631,553
Derivative assets at fair value	14,104	9,791
Derivative interest receivable	1,164	814
Netting adjustments to derivative assets	(14,454)	(10,210)
Derivative assets, net (Notes 7, 8)	814	395
Derivative liabilities at fair value	(20,409)	(12,411)
Derivative interest payable	(1,617)	(1,393)
Netting adjustments to derivative liabilities	20,394	12,550
Derivative liabilities, net	(1,632)	(1,254)
Not Designated as Hedging Instrument | Interest Rate Swaps
Derivative [Line Items]
Notional or contractual amount	484,789	429,712
Derivative assets at fair value	7,295	4,911
Derivative liabilities at fair value	(20,049)	(12,222)
Not Designated as Hedging Instrument | Receive-fixed
Derivative [Line Items]
Notional or contractual amount	263,757	209,988
Derivative assets at fair value	7,282	4,591
Derivative liabilities at fair value	(58)	(486)
Not Designated as Hedging Instrument | Pay-fixed
Derivative [Line Items]
Notional or contractual amount	219,907	218,599
Derivative assets at fair value	12	319
Derivative liabilities at fair value	(19,991)	(11,736)
Not Designated as Hedging Instrument | Basis (floating to floating)
Derivative [Line Items]
Notional or contractual amount	1,125	1,125
Derivative assets at fair value	1	1
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument | Option-based
Derivative [Line Items]
Notional or contractual amount	117,806	109,463
Derivative assets at fair value	6,661	4,821
Derivative liabilities at fair value	(156)	(128)
Not Designated as Hedging Instrument | Call swaptions | Purchased
Derivative [Line Items]
Notional or contractual amount	59,230	57,925
Derivative assets at fair value	5,288	3,450
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument | Call swaptions | Written
Derivative [Line Items]
Notional or contractual amount	4,375	4,375
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(151)	(100)
Not Designated as Hedging Instrument | Put swaptions | Purchased
Derivative [Line Items]
Notional or contractual amount	29,080	24,050
Derivative assets at fair value	424	580
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument | Put swaptions | Written
Derivative [Line Items]
Notional or contractual amount	11,025	11,025
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(5)	(28)
Not Designated as Hedging Instrument | Other option-based derivatives
Derivative [Line Items]
Notional or contractual amount	14,096	12,088
Derivative assets at fair value	949	791
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument | Futures
Derivative [Line Items]
Notional or contractual amount	69,739	56,332
Derivative assets at fair value	0	0
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument | Commitments
Derivative [Line Items]
Notional or contractual amount	58,008	29,114
Derivative assets at fair value	126	34
Derivative liabilities at fair value	(174)	(28)
Not Designated as Hedging Instrument | Credit derivatives
Derivative [Line Items]
Notional or contractual amount	3,743	3,899
Derivative assets at fair value	22	25
Derivative liabilities at fair value	(7)	(10)
Not Designated as Hedging Instrument | Other
Derivative [Line Items]
Notional or contractual amount	3,013	3,033
Derivative assets at fair value	0	0
Derivative liabilities at fair value	$ (23)	$ (23)

Derivatives - Gains and Losses

Derivatives - Gains and Losses on Derivatives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	$ (4,561)	$ (2,403)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(4,561)	(2,403)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(5,690)	(2,661)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Receive-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	2,944	1,317
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Pay-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(8,635)	(3,978)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Basis (floating to floating)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	1	0
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Option-based
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	1,935	1,016
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Call swaptions | Purchased
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	2,099	1,015
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Call swaptions | Written
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(71)	(29)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Put swaptions | Purchased
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(278)	(66)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Put swaptions | Written
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	38	15
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Other option-based derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	147	81
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Other Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(316)	(187)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Futures
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(181)	(40)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Commitments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(126)	(111)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Credit derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(8)	(37)
Not Designated as Hedging Instrument | Derivative gains (losses) excluding accrual of periodic settlements | Other
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(1)	1
Not Designated as Hedging Instrument | Accrual of periodic settlements
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(490)	(571)
Not Designated as Hedging Instrument | Accrual of periodic settlements | Receive-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	617	680
Not Designated as Hedging Instrument | Accrual of periodic settlements | Pay-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	$ (1,107)	$ (1,251)

Collateral and Offsetting of 70

Collateral and Offsetting of Assets and Liabilities (Details)	Mar. 31, 2016USD ($)numberofcounterparties	Dec. 31, 2015USD ($)
Offsetting of Financial Assets and Liabilities [Line Items]
Derivative collateral, obligation to return cash	$ 0	$ 0
Derivative collateral, right to reclaim cash	0	0
Securities collateral pledged to Freddie Mac offsetting our exposure	436,000,000	269,000,000
Derivatives in a net liability position	2,800,000,000
Collateral already posted, aggregate fair value	2,600,000,000
Additional Collateral, Aggregate Fair Value	200,000,000
Collateral pledged by Freddie Mac in form of cash	8,200,000,000	4,000,000,000
Securities purchased under agreements to resell
Offsetting of Financial Assets and Liabilities [Line Items]
Collateral pledged to Freddie Mac in form of securities	400,000,000	700,000,000
Derivatives and securities
Offsetting of Financial Assets and Liabilities [Line Items]
Collateral pledged by Freddie Mac in form of cash	6,600,000,000	3,100,000,000
Commitments
Offsetting of Financial Assets and Liabilities [Line Items]
Total exposure on our commitments	126,000,000	34,000,000
OTC derivatives
Offsetting of Financial Assets and Liabilities [Line Items]
Maximum loss after applying netting agreements and collateral	205,000,000
Securities collateral pledged to Freddie Mac offsetting our exposure	436,000,000	269,000,000
Derivatives in a net liability position	2,800,000,000	1,900,000,000
Collateral pledged by Freddie Mac in form of cash	$ 1,600,000,000	900,000,000
OTC derivatives | Net uncollateralized exposure to derivative counterparties | SP Equivalent Investment Grade Rating [Member]
Offsetting of Financial Assets and Liabilities [Line Items]
Number of counterparties | numberofcounterparties	2
Cleared and exchange-traded derivatives
Offsetting of Financial Assets and Liabilities [Line Items]
Collateral pledged to Freddie Mac in form of cash	$ 40,000,000	22,000,000
Securities collateral pledged to Freddie Mac offsetting our exposure	$ 0	$ 0

Collateral and Offsetting of 71

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivative Assets:
Gross Amount Recognized	$ 15,268	$ 10,605
Amount Offset in the Consolidated Balance Sheets	(14,454)	(10,210)
Net Amount Presented in the Consolidated Balance Sheets	814	395
Gross Amount Not Offset in the Consolidated Balance Sheets	(436)	(269)
Net Amount	378	126
Securities purchased under agreements to resell:
Gross Amount Recognized	40,098	63,644
Amount Offset in the Consolidated Balance Sheets	0	0
Net Amount Presented in the Consolidated Balance Sheets	40,098	63,644
Gross Amount Not Offset in the Consolidated Balance Sheets	(40,098)	(63,644)
Net Amount	0	0
Total:
Gross Amount Recognized	55,366	74,249
Amount Offset in the Consolidated Balance Sheets	(14,454)	(10,210)
Net Amount Presented in the Consolidated Balance Sheets	40,912	64,039
Gross Amount Not Offset in the Consolidated Balance Sheets	(40,534)	(63,913)
Net Amount	378	126
Derivative Liabilities:
Gross Amount Recognized	(22,026)	(13,804)
Amount Offset in the Consolidated Balance Sheets	20,394	12,550
Net Amount Presented in the Consolidated Balance Sheets	(1,632)	(1,254)
Gross Amount Not Offset in the Consolidated Balance Sheets	1,084	948
Net Amount	(548)	(306)
OTC interest-rate swaps and option-based derivatives
Derivative Assets:
Gross Amount Recognized	11,672	8,763
Amount Offset in the Consolidated Balance Sheets	(11,031)	(8,433)
Net Amount Presented in the Consolidated Balance Sheets	641	330
Gross Amount Not Offset in the Consolidated Balance Sheets	(436)	(269)
Net Amount	205	61
Derivative Liabilities:
Gross Amount Recognized	(11,819)	(8,886)
Amount Offset in the Consolidated Balance Sheets	10,594	7,801
Net Amount Presented in the Consolidated Balance Sheets	(1,225)	(1,085)
Gross Amount Not Offset in the Consolidated Balance Sheets	1,084	948
Net Amount	(141)	(137)
Cleared and exchange-traded derivatives
Derivative Assets:
Gross Amount Recognized	3,448	1,783
Amount Offset in the Consolidated Balance Sheets	(3,423)	(1,777)
Net Amount Presented in the Consolidated Balance Sheets	25	6
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	25	6
Derivative Liabilities:
Gross Amount Recognized	(10,003)	(4,857)
Amount Offset in the Consolidated Balance Sheets	9,800	4,749
Net Amount Presented in the Consolidated Balance Sheets	(203)	(108)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(203)	(108)
Aggregate fair value of securities posted	2,600	2,800
Other
Derivative Assets:
Gross Amount Recognized	148	59
Amount Offset in the Consolidated Balance Sheets	0	0
Net Amount Presented in the Consolidated Balance Sheets	148	59
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	148	59
Derivative Liabilities:
Gross Amount Recognized	(204)	(61)
Amount Offset in the Consolidated Balance Sheets	0	0
Net Amount Presented in the Consolidated Balance Sheets	(204)	(61)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	$ (204)	$ (61)

Collateral and Offsetting of 72

Collateral and Offsetting of Assets and Liabilities - Restricted OTC Cash Collateral Held (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Restricted Cash and Investments, Current [Abstract]
Restricted Cash and Cash Equivalents	$ 349	$ 175
Securities Purchased Under Agreements To Resell	582	905
Trading Securities	1,075	447
Total	$ 2,006	$ 1,527

Collateral and Offsetting of 73

Collateral and Offsetting of Assets and Liabilities - Collateral in the Form of Securities Pledged (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	$ 3,881	$ 3,780
Debt securities of consolidated trusts held by third parties
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	1,711	1,293
Available-for-sale securities
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	175	0
Trading securities
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	$ 1,995	$ 2,487

Stockholders' Equity and Earn74

Stockholders' Equity and Earnings per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Stockholders' Equity Note [Abstract]
Federal statutory tax rate	35.00%	35.00%
Total AOCI related to derivatives designated as cash flow hedges	$ (587,000,000)	$ (700,000,000)	$ (621,000,000)
Cash flow hedge gain (loss) to be reclassified over the next 12 months	$ (136,000,000)
Maximum remaining length of time hedged in cash flow hedge	18 years
Cash dividends paid on senior preferred stock	$ 1,740,000,000	$ 851,000,000
Expected draw request from Treasury	0
Applicable capital reserve amount	1,200,000,000
Expected Senior Preferred Stock Dividend Payable To Treasury	0
Aggregate liquidation preference on senior preferred stock	72,336,000,000		$ 72,336,000,000
Common shares or non-cumulative preferred stock repurchased	0
Common shares or non-cumulative preferred stock issued	0
Common dividends declared	0
Dividends declared on preferred stock	0
Dividends paid on preferred stock	$ 0

Stockholders' Equity and Earn75

Stockholders' Equity and Earnings per Share - Changes in AOCI by Component, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 2,940
Total other comprehensive income (loss), net of taxes and reclassification adjustments	154	$ 222
Ending balance	1,000
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	1,153	1,730
Other comprehensive income (loss) before reclassifications	131	337
Amounts reclassified from accumulated other comprehensive income	23	(115)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	154	222
Ending balance	1,307	1,952
AOCI related to available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	1,740	2,546
Other comprehensive income (loss) before reclassifications	129	331
Amounts reclassified from accumulated other comprehensive income	(10)	(174)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	119	157
Ending balance	1,859	2,703
Tax expense related to AFS - other comprehensive income before reclassifications	100	200
AOCI related to cash flow hedge relationships
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(621)	(803)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	34	59
Total other comprehensive income (loss), net of taxes and reclassification adjustments	34	59
Ending balance	(587)	(744)
AOCI related to defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	34	(13)
Other comprehensive income (loss) before reclassifications	2	6
Amounts reclassified from accumulated other comprehensive income	(1)	0
Total other comprehensive income (loss), net of taxes and reclassification adjustments	1	6
Ending balance	$ 35	$ (7)

Stockholders' Equity and Earn76

Stockholders' Equity and Earnings per Share - Reclassifications from AOCI to Net Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Other gains (losses) on investment securities recognized in earnings	$ 303,000,000	$ 417,000,000
Net impairment of available-for-sale securities recognized in earnings	(57,000,000)	(93,000,000)
Interest expense	(13,388,000,000)	(13,088,000,000)
Expense related to derivatives	(51,000,000)	(65,000,000)
Salaries and employee benefits	(239,000,000)	(232,000,000)
Income before income tax (expense) benefit	(508,000,000)	788,000,000
Net (loss) income	(354,000,000)	524,000,000
Held by Freddie Mac
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Interest expense	(1,597,000,000)	(1,601,000,000)
Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net (loss) income	(23,000,000)	115,000,000
AOCI related to available-for-sale securities | Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Other gains (losses) on investment securities recognized in earnings	72,000,000	362,000,000
Net impairment of available-for-sale securities recognized in earnings	(57,000,000)	(93,000,000)
Income before income tax (expense) benefit	15,000,000	269,000,000
Income tax (expense) benefit	(5,000,000)	(95,000,000)
Net (loss) income	10,000,000	174,000,000
AOCI related to cash flow hedge relationships | Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Expense related to derivatives	(51,000,000)	(65,000,000)
Income before income tax (expense) benefit	(51,000,000)	(65,000,000)
Income tax (expense) benefit	17,000,000	6,000,000
Net (loss) income	(34,000,000)	(59,000,000)
AOCI related to cash flow hedge relationships | Total reclassifications in the period | Held by Freddie Mac
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Interest expense	0	0
AOCI related to defined benefit plans | Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Salaries and employee benefits	1,000,000	0
Income tax (expense) benefit	0	0
Net (loss) income	$ 1,000,000	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Benefit (Expense)	$ 154,000,000	$ (264,000,000)
Effective Tax Rate	30.30%	33.50%
Federal statutory tax rate	35.00%	35.00%
Unrecognized Tax Benefits	$ 0
Deferred Tax Assets, Net	$ 18,100,000,000		$ 18,200,000,000

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015USD ($)
Segment Reporting [Abstract]
Number of reportable segments	3
Increase to Net Interest Income for Investment Segment		$ 181
Decrease to Management and Guarantee Fee Income for Single Family Guarantee Segment		66
Reclassification from net interest income to non-interest income		348
Reclassification from (provision) benefit for credit losses to non-interest income		692
Reclassification from other non-interest expense to non-interest income		$ 360

Segment Reporting - Summary of

Segment Reporting - Summary of Segment Earnings and Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Net (loss) income	$ (354)	$ 524
Comprehensive income (loss)	(200)	746
All Other
Segment Reporting Information [Line Items]
Net (loss) income	0	0
Comprehensive income (loss)	0	7
Single-family Guarantee | Operating segments
Segment Reporting Information [Line Items]
Net (loss) income	810	60
Comprehensive income (loss)	811	59
Multifamily | Operating segments
Segment Reporting Information [Line Items]
Net (loss) income	147	284
Comprehensive income (loss)	150	264
Investments | Operating segments
Segment Reporting Information [Line Items]
Net (loss) income	(1,311)	180
Comprehensive income (loss)	(1,161)	416
Operating segments and All Other
Segment Reporting Information [Line Items]
Net (loss) income	(354)	524
Comprehensive income (loss)	$ (200)	$ 746

Segment Reporting - Segment Ear

Segment Reporting - Segment Earnings and Reconciliation to GAAP Results (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	$ 3,405	$ 3,647
Management and guarantee income	110	88
Benefit (provision) for credit losses	467	499
Net interest income and management and guarantee income after benefit (provision) for credit losses	3,982	4,234
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	(57)	(93)
Derivative gains (losses)	(4,561)	(2,403)
Gains (losses) on trading securities	231	55
Gains (losses) on mortgage loans	478	(200)
Other non-interest income (loss)	376	406
Non-interest expense
Administrative expenses	(448)	(451)
Real estate owned operations (expense) income	(84)	(75)
Other non interest expense includes adjustments	(425)	(685)
Income tax benefit (expense)	154	(264)
Net (loss) income	(354)	524
Changes in unrealized gains (losses) related to available-for-sale securities	119	157
Changes in unrealized gains (losses) related to cash flow hedge relationships	34	59
Changes in defined benefit plans	1	6
Total other comprehensive income (loss), net of taxes and reclassification adjustments	154	222
Comprehensive income (loss)	(200)	746
All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	0	0
Management and guarantee income	0	0
Benefit (provision) for credit losses	0	0
Net interest income and management and guarantee income after benefit (provision) for credit losses	0	0
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	0	0
Derivative gains (losses)	0	0
Gains (losses) on trading securities	0	0
Gains (losses) on mortgage loans	0	0
Other non-interest income (loss)	0	0
Non-interest expense
Administrative expenses	0	0
Real estate owned operations (expense) income	0	0
Other non interest expense includes adjustments	0	0
Income tax benefit (expense)	0	0
Net (loss) income	0	0
Changes in unrealized gains (losses) related to available-for-sale securities	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	0	7
Total other comprehensive income (loss), net of taxes and reclassification adjustments	0	7
Comprehensive income (loss)	0	7
Reclassifications
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	2,523	2,387
Management and guarantee income	(1,283)	(1,242)
Benefit (provision) for credit losses	173	876
Net interest income and management and guarantee income after benefit (provision) for credit losses	1,413	2,021
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	(138)	(194)
Derivative gains (losses)	(771)	(739)
Gains (losses) on trading securities	0	0
Gains (losses) on mortgage loans	(19)	(553)
Other non-interest income (loss)	(186)	47
Non-interest expense
Administrative expenses	0	0
Real estate owned operations (expense) income	0	0
Other non interest expense includes adjustments	(299)	(582)
Income tax benefit (expense)	0	0
Net (loss) income	0	0
Changes in unrealized gains (losses) related to available-for-sale securities	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	0	0
Total other comprehensive income (loss), net of taxes and reclassification adjustments	0	0
Comprehensive income (loss)	0	0
Single-family Guarantee | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	(118)	(137)
Management and guarantee income	1,285	1,257
Benefit (provision) for credit losses	289	(380)
Net interest income and management and guarantee income after benefit (provision) for credit losses	1,456	740
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	0	0
Derivative gains (losses)	(8)	(37)
Gains (losses) on trading securities	0	0
Gains (losses) on mortgage loans	0	0
Other non-interest income (loss)	195	(146)
Non-interest expense
Administrative expenses	(295)	(300)
Real estate owned operations (expense) income	(84)	(75)
Other non interest expense includes adjustments	(100)	(92)
Income tax benefit (expense)	(354)	(30)
Net (loss) income	810	60
Changes in unrealized gains (losses) related to available-for-sale securities	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	1	(1)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	1	(1)
Comprehensive income (loss)	811	59
Multifamily | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	252	242
Management and guarantee income	108	73
Benefit (provision) for credit losses	5	3
Net interest income and management and guarantee income after benefit (provision) for credit losses	365	318
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	0	(17)
Derivative gains (losses)	(787)	(199)
Gains (losses) on trading securities	62	10
Gains (losses) on mortgage loans	497	353
Other non-interest income (loss)	178	44
Non-interest expense
Administrative expenses	(80)	(70)
Real estate owned operations (expense) income	0	0
Other non interest expense includes adjustments	(24)	(11)
Income tax benefit (expense)	(64)	(144)
Net (loss) income	147	284
Changes in unrealized gains (losses) related to available-for-sale securities	3	(20)
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	0	0
Total other comprehensive income (loss), net of taxes and reclassification adjustments	3	(20)
Comprehensive income (loss)	150	264
Investments | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	748	1,155
Management and guarantee income	0	0
Benefit (provision) for credit losses	0	0
Net interest income and management and guarantee income after benefit (provision) for credit losses	748	1,155
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	81	118
Derivative gains (losses)	(2,995)	(1,428)
Gains (losses) on trading securities	169	45
Gains (losses) on mortgage loans	0	0
Other non-interest income (loss)	189	461
Non-interest expense
Administrative expenses	(73)	(81)
Real estate owned operations (expense) income	0	0
Other non interest expense includes adjustments	(2)	0
Income tax benefit (expense)	572	(90)
Net (loss) income	(1,311)	180
Changes in unrealized gains (losses) related to available-for-sale securities	116	177
Changes in unrealized gains (losses) related to cash flow hedge relationships	34	59
Changes in defined benefit plans	0	0
Total other comprehensive income (loss), net of taxes and reclassification adjustments	150	236
Comprehensive income (loss)	(1,161)	416
Operating segments and All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	882	1,260
Management and guarantee income	1,393	1,330
Benefit (provision) for credit losses	294	(377)
Net interest income and management and guarantee income after benefit (provision) for credit losses	2,569	2,213
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	81	101
Derivative gains (losses)	(3,790)	(1,664)
Gains (losses) on trading securities	231	55
Gains (losses) on mortgage loans	497	353
Other non-interest income (loss)	562	359
Non-interest expense
Administrative expenses	(448)	(451)
Real estate owned operations (expense) income	(84)	(75)
Other non interest expense includes adjustments	(126)	(103)
Income tax benefit (expense)	154	(264)
Net (loss) income	(354)	524
Changes in unrealized gains (losses) related to available-for-sale securities	119	157
Changes in unrealized gains (losses) related to cash flow hedge relationships	34	59
Changes in defined benefit plans	1	6
Total other comprehensive income (loss), net of taxes and reclassification adjustments	154	222
Comprehensive income (loss)	$ (200)	$ 746

Concentration of Credit and O81

Concentration of Credit and Other Risks (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	May. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Concentration Risk [Line Items]
UPB of single-family credit guarantee portfolio		$ 1,700,000		$ 1,700,000
Judicial Ruling [Member] | Nomura And RBS Securities Inc [Member]
Concentration Risk [Line Items]
Litigation Settlement, Amount	$ (806)
FHFA VS Nomura | Judicial Ruling [Member]
Concentration Risk [Line Items]
Litigation Settlement, Amount	$ 779
Payment Cap The Litigation Defendant Agreed To Pay		33
Positive Outcome of Litigation | Citigroup
Concentration Risk [Line Items]
Gain Contingency, Unrecorded Amount		$ 100
Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage		100.00%		100.00%
Ocwen
Concentration Risk [Line Items]
UPB Of Loans Underlying Non Agency MRS		$ 13,000		$ 13,000
Ocwen | Single-family loan serviced
Concentration Risk [Line Items]
UPB of single-family credit guarantee portfolio		$ 26,000
Top three non-depository seller | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage		12.00%
Three largest non-depository servicers | Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage		10.00%		10.00%
Mortgage Insurers
Concentration Risk [Line Items]
Unpaid Principal Balance Of Single Family Credit Guarantee Portfolio With Mortgage Insurance Coverage		$ 263,400
Credit Protection Coverage From Mortgage Insurers For Single Family Credit Guarantee Portfolio		67,600
Cash proceeds received from mortgage insurers		100	$ 200
Receivables outstanding from mortgage Insurers		200		$ 300
Receivables outstanding, net of reserves, from mortgage insurers		200		200
Amount Of Cumulative Unpaid Deferred Payment Obligation		500		500
Cash And Other Investment Counterparties
Concentration Risk [Line Items]
Cash and other non-mortgage investments		$ 62,900		$ 83,800

Concentration of Credit and O82

Concentration of Credit and Other Risks - Concentration of Credit Risk - Single-Family Credit Guarantee Portfolio (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Concentration Risk [Line Items]
Serious delinquency rate	1.20%		1.32%
West
Concentration Risk [Line Items]
Serious delinquency rate	0.73%		0.79%
Northeast
Concentration Risk [Line Items]
Serious delinquency rate	1.84%		2.04%
North Central
Concentration Risk [Line Items]
Serious delinquency rate	1.03%		1.13%
Southeast
Concentration Risk [Line Items]
Serious delinquency rate	1.41%		1.57%
Southwest
Concentration Risk [Line Items]
Serious delinquency rate	0.81%		0.88%
ILLINOIS
Concentration Risk [Line Items]
Serious delinquency rate	1.48%		1.62%
FLORIDA
Concentration Risk [Line Items]
Serious delinquency rate	1.90%		2.16%
NEW YORK
Concentration Risk [Line Items]
Serious delinquency rate	2.64%		2.94%
NEW JERSEY
Concentration Risk [Line Items]
Serious delinquency rate	3.42%		3.90%
CALIFORNIA
Concentration Risk [Line Items]
Serious delinquency rate	0.56%		0.60%
All Other
Concentration Risk [Line Items]
Serious delinquency rate	1.03%		1.12%
Core single-family book
Concentration Risk [Line Items]
Serious delinquency rate	0.19%		0.21%
HARP and other relief refinance book
Concentration Risk [Line Items]
Serious delinquency rate	0.69%		0.72%
Legacy single-family book
Concentration Risk [Line Items]
Serious delinquency rate	3.86%		4.12%
Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage	100.00%		100.00%
Single-family UPB | West
Concentration Risk [Line Items]
Concentration risk percentage	30.00%		29.00%
Single-family UPB | Northeast
Concentration Risk [Line Items]
Concentration risk percentage	25.00%		26.00%
Single-family UPB | North Central
Concentration Risk [Line Items]
Concentration risk percentage	17.00%		17.00%
Single-family UPB | Southeast
Concentration Risk [Line Items]
Concentration risk percentage	16.00%		16.00%
Single-family UPB | Southwest
Concentration Risk [Line Items]
Concentration risk percentage	12.00%		12.00%
Single-family UPB | ILLINOIS
Concentration Risk [Line Items]
Concentration risk percentage	5.00%		5.00%
Single-family UPB | FLORIDA
Concentration Risk [Line Items]
Concentration risk percentage	5.00%		5.00%
Single-family UPB | NEW YORK
Concentration Risk [Line Items]
Concentration risk percentage	5.00%		5.00%
Single-family UPB | NEW JERSEY
Concentration Risk [Line Items]
Concentration risk percentage	4.00%		4.00%
Single-family UPB | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk percentage	18.00%		18.00%
Single-family UPB | All Other
Concentration Risk [Line Items]
Concentration risk percentage	63.00%		63.00%
Single-family UPB | Core single-family book
Concentration Risk [Line Items]
Concentration risk percentage	68.00%		66.00%
Single-family UPB | HARP and other relief refinance book
Concentration Risk [Line Items]
Concentration risk percentage	17.00%		18.00%
Single-family UPB | Legacy single-family book
Concentration Risk [Line Items]
Concentration risk percentage	15.00%		16.00%
Single-family Credit Losses
Concentration Risk [Line Items]
Concentration risk percentage	100.00%	100.00%
Single-family Credit Losses | West
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	12.00%
Single-family Credit Losses | Northeast
Concentration Risk [Line Items]
Concentration risk percentage	37.00%	47.00%
Single-family Credit Losses | North Central
Concentration Risk [Line Items]
Concentration risk percentage	25.00%	13.00%
Single-family Credit Losses | Southeast
Concentration Risk [Line Items]
Concentration risk percentage	21.00%	25.00%
Single-family Credit Losses | Southwest
Concentration Risk [Line Items]
Concentration risk percentage	5.00%	3.00%
Single-family Credit Losses | ILLINOIS
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	7.00%
Single-family Credit Losses | FLORIDA
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	20.00%
Single-family Credit Losses | NEW YORK
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	15.00%
Single-family Credit Losses | NEW JERSEY
Concentration Risk [Line Items]
Concentration risk percentage	9.00%	18.00%
Single-family Credit Losses | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk percentage	6.00%	4.00%
Single-family Credit Losses | All Other
Concentration Risk [Line Items]
Concentration risk percentage	55.00%	36.00%
Single-family Credit Losses | Core single-family book
Concentration Risk [Line Items]
Concentration risk percentage	6.00%	2.00%
Single-family Credit Losses | HARP and other relief refinance book
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	5.00%
Single-family Credit Losses | Legacy single-family book
Concentration Risk [Line Items]
Concentration risk percentage	79.00%	93.00%

Concentration of Credit and O83

Concentration of Credit and Other Risks - Certain Higher-Risk Categories in the Single-Family Credit Guarantee Portfolio (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Serious delinquency rate	1.20%	1.32%
Interest-only
Concentration Risk [Line Items]
Serious delinquency rate	5.55%	6.02%
Alt-A
Concentration Risk [Line Items]
Serious delinquency rate	6.01%	6.32%
Original LTV ratio greater than 90%
Concentration Risk [Line Items]
Serious delinquency rate	1.81%	2.01%
Lower credit scores at origination (less than 620)
Concentration Risk [Line Items]
Serious delinquency rate	6.17%	6.67%
Single-family UPB
Concentration Risk [Line Items]
Percentage of Portfolio	100.00%	100.00%
Single-family UPB | Interest-only
Concentration Risk [Line Items]
Percentage of Portfolio	1.00%	1.00%
Single-family UPB | Alt-A
Concentration Risk [Line Items]
Percentage of Portfolio	2.00%	2.00%
Single-family UPB | Original LTV ratio greater than 90%
Concentration Risk [Line Items]
Percentage of Portfolio	16.00%	16.00%
Single-family UPB | Lower credit scores at origination (less than 620)
Concentration Risk [Line Items]
Percentage of Portfolio	2.00%	2.00%

Concentration of Credit and O84

Concentration of Credit and Other Risks Concentration of Credit and Other Risks - Seller Concentration (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Top ten Single-family sellers | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	48.00%	51.00%
Wells Fargo Bank, N.A. | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	10.00%
Other top 10 sellers | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	35.00%	41.00%
Top ten multifamily sellers | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	88.00%	84.00%
Berkadia Commercial Mortgage LLC | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	26.00%	6.00%
CBRE Capital Markets, Inc. | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	19.00%	18.00%
Walker & Dunlop, LLC | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	17.00%
Other top 10 sellers | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	29.00%	43.00%

Concentration of Credit and O85

Concentration of Credit and Other Risks Concentration of Credit and Other Risks - Servicer Concentration (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Single-family loan serviced | Top ten Single-family servicers
Concentration Risk [Line Items]
Concentration risk percentage	64.00%	65.00%
Single-family loan serviced | Wells Fargo Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	20.00%
Single-family loan serviced | JP Morgan Chase Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%
Single-family loan serviced | Other top 10 servicers
Concentration Risk [Line Items]
Concentration risk percentage	34.00%	35.00%
Multifamily loan serviced | Top ten multifamily servicers
Concentration Risk [Line Items]
Concentration risk percentage	78.00%	76.00%
Multifamily loan serviced | Berkadia Commercial Mortgage LLC
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	14.00%
Multifamily loan serviced | Wells Fargo Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	14.00%
Multifamily loan serviced | CBRE Capital Markets, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	12.00%
Multifamily loan serviced | Other top 10 servicers
Concentration Risk [Line Items]
Concentration risk percentage	38.00%	36.00%

Concentration of Credit and O86

Concentration of Credit and Other Risks Concentration of Credit and Other Risks - Mortgage Insurer Concentration (Details) - Mortgage insurance coverage	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Radian Guaranty Inc.
Concentration Risk [Line Items]
Concentration risk percentage	22.00%	22.00%
United Guaranty Residential Insurance Company
Concentration Risk [Line Items]
Concentration risk percentage	22.00%	23.00%
Mortgage Guaranty Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	21.00%	21.00%
Genworth Mortgage Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	14.00%
Total
Concentration Risk [Line Items]
Concentration risk percentage	79.00%	80.00%

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Fair Value Disclosures [Line Items]
Decrease (Increase) Of Fair Value Of Mortgage Loans Without Benefits Reflected In The Pricing Of HARP Loans	$ 10,600		$ 12,900
Total Fair Value Of The HARP Loans Presented In Consolidated Fair Value Balance Sheets	76,400		$ 82,800
Multifamily Held-For-Sale Loans
Fair Value Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	500	$ 400
Multifamily HFS Loan Phurchase Commitments
Fair Value Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	38
Long-term Debt [Member]
Fair Value Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 13	$ (189)

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	$ 22,415	$ 17,660
Derivative Assets Net [Abstract]
Derivative Assets	814	395
Netting Adjustment	(13,290)	(9,396)
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	6,915	7,184
Derivative Liabilities Net [Abstract]
Derivative Liabilities	1,632	1,254
Netting Adjustment	(18,777)	(11,157)
Other Liabilities [Abstract]
Net Cash Pledged As Collateral	5,900	2,300
Net interest receivable (payable) of derivative assets/liabilities	(500)	(600)
Fair Value, Measurements, Recurring [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	71,124	74,937
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	36,471	39,278
Total investments in securities	107,595	114,215
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	22,415	17,660
Derivative Assets Net [Abstract]
Derivative Assets	814	395
Netting Adjustment	(13,290)	(9,396)
Other Assets [Abstract]
Guarantee Assets	1,894	1,753
Non Derivative HFS Purchase Commitments (Assets)	74
Total Other Assets	1,968
Total Assets at Fair value	132,792	134,023
Derivative Liabilities Net [Abstract]
Derivative Liabilities	1,632	1,254
Netting Adjustment	(18,777)	(11,157)
Other Liabilities [Abstract]
Non Derivative HFS Purchase Commitments (Liabilities)	24
All Other Liabilites	8	10
Total Other Liabilities at Fair Value	32
Total liabilities carried at fair value on a recurring basis	8,579	8,448
Fair Value, Measurements, Recurring [Member] | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	122	139
Fair Value, Measurements, Recurring [Member] | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	6,793	7,045
Fair Value, Measurements, Recurring [Member] | Total Derivatives Before Netting Adjustments [Member]
Derivative Assets Net [Abstract]
Derivative Assets	14,104	9,791
Derivative Liabilities Net [Abstract]
Derivative Liabilities	20,409	12,411
Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Derivative Assets Net [Abstract]
Derivative Assets	7,295	4,911
Derivative Liabilities Net [Abstract]
Derivative Liabilities	20,049	12,222
Fair Value, Measurements, Recurring [Member] | Option-Based Derivatives [Member]
Derivative Assets Net [Abstract]
Derivative Assets	6,661	4,821
Derivative Liabilities Net [Abstract]
Derivative Liabilities	156	128
Fair Value, Measurements, Recurring [Member] | Other Derivative [Member]
Derivative Assets Net [Abstract]
Derivative Assets	148	59
Derivative Liabilities Net [Abstract]
Derivative Liabilities	204	61
Fair Value, Measurements, Recurring [Member] | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	21,233	22,127
Fair Value, Measurements, Recurring [Member] | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	34,275	33,527
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	14,771	15,513
Fair Value, Measurements, Recurring [Member] | Fannie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	6,847	7,262
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	6,182	6,438
Fair Value, Measurements, Recurring [Member] | Ginnie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	155	162
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	144	30
Fair Value, Measurements, Recurring [Member] | CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	10,067	12,448
Fair Value, Measurements, Recurring [Member] | Subprime
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	11,947	12,802
Fair Value, Measurements, Recurring [Member] | Option ARM
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,325	3,678
Fair Value, Measurements, Recurring [Member] | Alt-A and other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,940	3,278
Fair Value, Measurements, Recurring [Member] | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,012	1,205
Fair Value, Measurements, Recurring [Member] | Manufactured housing
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	556	575
Fair Value, Measurements, Recurring [Member] | Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	136	146
Fair Value, Measurements, Recurring [Member] | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	15,238	17,151
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	15,238	17,151
Total investments in securities	15,238	17,151
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative Assets	0	0
Other Assets [Abstract]
Guarantee Assets	0	0
Non Derivative HFS Purchase Commitments (Assets)	0
Total Other Assets	0
Total Assets at Fair value	15,238	17,151
Derivative Liabilities Net [Abstract]
Derivative Liabilities	0	0
Other Liabilities [Abstract]
Non Derivative HFS Purchase Commitments (Liabilities)	0
All Other Liabilites	0	0
Total Other Liabilities at Fair Value	0
Total liabilities carried at fair value on a recurring basis	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Total Derivatives Before Netting Adjustments [Member]
Derivative Assets Net [Abstract]
Derivative Assets	0	0
Derivative Liabilities Net [Abstract]
Derivative Liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Derivative Assets Net [Abstract]
Derivative Assets	0	0
Derivative Liabilities Net [Abstract]
Derivative Liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Option-Based Derivatives [Member]
Derivative Assets Net [Abstract]
Derivative Assets	0	0
Derivative Liabilities Net [Abstract]
Derivative Liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Derivative [Member]
Derivative Assets Net [Abstract]
Derivative Assets	0	0
Derivative Liabilities Net [Abstract]
Derivative Liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Fannie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Ginnie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Subprime
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Option ARM
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Alt-A and other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Manufactured housing
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	15,238	17,151
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	43,263	47,170
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	21,080	21,753
Total investments in securities	64,343	68,923
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	22,415	17,660
Derivative Assets Net [Abstract]
Derivative Assets	14,081	9,766
Other Assets [Abstract]
Guarantee Assets	0	0
Non Derivative HFS Purchase Commitments (Assets)	74
Total Other Assets	74
Total Assets at Fair value	100,913	96,349
Derivative Liabilities Net [Abstract]
Derivative Liabilities	20,375	12,378
Other Liabilities [Abstract]
Non Derivative HFS Purchase Commitments (Liabilities)	24
All Other Liabilites	0	0
Total Other Liabilities at Fair Value	24
Total liabilities carried at fair value on a recurring basis	27,314	19,562
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	122	139
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	6,793	7,045
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Total Derivatives Before Netting Adjustments [Member]
Derivative Assets Net [Abstract]
Derivative Assets	14,081	9,766
Derivative Liabilities Net [Abstract]
Derivative Liabilities	20,375	12,378
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Derivative Assets Net [Abstract]
Derivative Assets	7,295	4,911
Derivative Liabilities Net [Abstract]
Derivative Liabilities	20,049	12,222
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Option-Based Derivatives [Member]
Derivative Assets Net [Abstract]
Derivative Assets	6,661	4,821
Derivative Liabilities Net [Abstract]
Derivative Liabilities	156	128
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Derivative [Member]
Derivative Assets Net [Abstract]
Derivative Assets	125	34
Derivative Liabilities Net [Abstract]
Derivative Liabilities	170	28
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	21,080	21,753
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	29,906	30,919
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	14,648	15,182
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Fannie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	6,763	7,172
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	6,153	6,397
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Ginnie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	154	161
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	144	30
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	6,440	8,918
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Subprime
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Option ARM
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Alt-A and other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Manufactured housing
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	135	144
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	27,861	27,767
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	153	374
Total investments in securities	28,014	28,141
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative Assets	23	25
Other Assets [Abstract]
Guarantee Assets	1,894	1,753
Non Derivative HFS Purchase Commitments (Assets)	0
Total Other Assets	1,894
Total Assets at Fair value	29,931	29,919
Derivative Liabilities Net [Abstract]
Derivative Liabilities	34	33
Other Liabilities [Abstract]
Non Derivative HFS Purchase Commitments (Liabilities)	0
All Other Liabilites	8	10
Total Other Liabilities at Fair Value	8
Total liabilities carried at fair value on a recurring basis	42	43
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Total Derivatives Before Netting Adjustments [Member]
Derivative Assets Net [Abstract]
Derivative Assets	23	25
Derivative Liabilities Net [Abstract]
Derivative Liabilities	34	33
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Derivative Assets Net [Abstract]
Derivative Assets	0	0
Derivative Liabilities Net [Abstract]
Derivative Liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Option-Based Derivatives [Member]
Derivative Assets Net [Abstract]
Derivative Assets	0	0
Derivative Liabilities Net [Abstract]
Derivative Liabilities	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Derivative [Member]
Derivative Assets Net [Abstract]
Derivative Assets	23	25
Derivative Liabilities Net [Abstract]
Derivative Liabilities	34	33
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Mortage-related securities
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	27,861	27,767
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	153	374
Total investments in securities	28,014	28,141
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	4,369	2,608
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	123	331
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Fannie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	84	90
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	29	41
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Ginnie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1	1
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,627	3,530
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Subprime
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	11,947	12,802
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Option ARM
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,325	3,678
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Alt-A and other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,940	3,278
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,012	1,205
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Manufactured housing
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	556	575
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1	2
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	$ 0	$ 0

Fair Value Disclosures - Asse89

Fair Value Disclosures - Assets on Our Consolidated Balance Sheets Measured at Fair Value on a Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 4,499	$ 6,981
REO, net	839	1,046
Total Assets at Fair value	5,338	8,027
Carrying Amount Of REO Adjusted To Fair Value	800	900
Estimated Cost To Sell	55	68
Fair Value, Inputs, Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	0	0
REO, net	0	0
Total Assets at Fair value	0	0
Fair Value, Inputs, Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	770	1,130
REO, net	0	0
Total Assets at Fair value	770	1,130
Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	3,729	5,851
REO, net	839	1,046
Total Assets at Fair value	$ 4,568	$ 6,897

Fair Value Disclosures - Asse90

Fair Value Disclosures - Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Derivatives [Member]
Net Derivative Liability
Beginning Balance	$ 8	$ 10
Included in Earnings	18	25
Included in Other Comprehensive Income (Loss)	0	0
Total realized and unrealized gains (losses)	18	25
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, Net	(15)	(10)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	11	25
Unrealized Gains (Losses) Still Held:
Unrealized (Gains) Losses Still Held - Net Derivative Liability	3	15
All Other Liabilities [Member]
Liabilities:
Begining Balance	10
Included in Earnings	(2)
Included in Other Comprehensive Income	0
Total realized and unrealized (gains) losses	(2)
Purchases	0
Issues	0
Sales	0
Settlements, Net	0
Transfers into Level 3	0
Transfers out of Level 3	0
Ending Balance	8
Unrealized Gains (Losses) Still Held:
Unrealized (Gains) Losses Still Held - Liabilities	8
Available-For-Sale Mortgage-Related Securities [Member]
Assets:
Beginning Balance	27,767	41,895
Included in Earnings	132	192
Included in Other Comprehensive Income	(215)	66
Total realized and unrealized gains (losses)	(83)	258
Purchases	1,772	1,010
Issues	0	0
Sales	(937)	(3,824)
Settlements, net	(1,100)	(804)
Transfers into Level 3	714	58
Transfers out of Level 3	(272)	(1,933)
Ending Balance	27,861	36,660
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	74	(94)
Available-For-Sale Mortgage-Related Securities [Member] | Freddie Mac
Assets:
Beginning Balance	2,608	4,231
Included in Earnings	14	0
Included in Other Comprehensive Income	1	(2)
Total realized and unrealized gains (losses)	15	(2)
Purchases	1,755	1,010
Issues	0	0
Sales	(362)	(654)
Settlements, net	(89)	22
Transfers into Level 3	714	0
Transfers out of Level 3	(272)	(1,924)
Ending Balance	4,369	2,683
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	0	0
Available-For-Sale Mortgage-Related Securities [Member] | Fannie Mae
Assets:
Beginning Balance	90	85
Included in Earnings	0	0
Included in Other Comprehensive Income	0	1
Total realized and unrealized gains (losses)	0	1
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	(6)	(7)
Transfers into Level 3	0	43
Transfers out of Level 3	0	(9)
Ending Balance	84	113
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	0	0
Available-For-Sale Mortgage-Related Securities [Member] | Ginnie Mae
Assets:
Beginning Balance	1	4
Included in Earnings	0	0
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	0	0
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	0	(1)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1	3
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	0	0
Available-For-Sale Mortgage-Related Securities [Member] | CMBS
Assets:
Beginning Balance	3,530	3,474
Included in Earnings	0	(17)
Included in Other Comprehensive Income	88	101
Total realized and unrealized gains (losses)	88	84
Purchases	17	0
Issues	0	0
Sales	0	0
Settlements, net	(8)	(6)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	3,627	3,552
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	0	(17)
Available-For-Sale Mortgage-Related Securities [Member] | Subprime
Assets:
Beginning Balance	12,802	20,589
Included in Earnings	26	192
Included in Other Comprehensive Income	(171)	12
Total realized and unrealized gains (losses)	(145)	204
Purchases	0	0
Issues	0	0
Sales	(208)	(2,892)
Settlements, net	(502)	(102)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	11,947	17,799
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	18	(65)
Available-For-Sale Mortgage-Related Securities [Member] | Option ARM
Assets:
Beginning Balance	3,678	5,649
Included in Earnings	58	11
Included in Other Comprehensive Income	(88)	(29)
Total realized and unrealized gains (losses)	(30)	(18)
Purchases	0	0
Issues	0	0
Sales	(182)	(168)
Settlements, net	(141)	(187)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	3,325	5,276
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	28	(11)
Available-For-Sale Mortgage-Related Securities [Member] | Alt-A and other
Assets:
Beginning Balance	3,278	5,027
Included in Earnings	34	6
Included in Other Comprehensive Income	(39)	(11)
Total realized and unrealized gains (losses)	(5)	(5)
Purchases	0	0
Issues	0	0
Sales	(185)	(106)
Settlements, net	(148)	(143)
Transfers into Level 3	0	15
Transfers out of Level 3	0	0
Ending Balance	2,940	4,788
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	28	(1)
Available-For-Sale Mortgage-Related Securities [Member] | Obligations of states and political subdivisions
Assets:
Beginning Balance	1,205	2,198
Included in Earnings	0	0
Included in Other Comprehensive Income	(2)	(5)
Total realized and unrealized gains (losses)	(2)	(5)
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	(191)	(366)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1,012	1,827
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	0	0
Available-For-Sale Mortgage-Related Securities [Member] | Manufactured housing
Assets:
Beginning Balance	575	638
Included in Earnings	0	0
Included in Other Comprehensive Income	(4)	(1)
Total realized and unrealized gains (losses)	(4)	(1)
Purchases	0	0
Issues	0	0
Sales	0	(4)
Settlements, net	(15)	(14)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	556	619
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	0	0
Trading Mortgage Related Securities [Member]
Assets:
Beginning Balance	374	1,164
Included in Earnings	(4)	8
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(4)	8
Purchases	50	44
Issues	11	128
Sales	(152)	(12)
Settlements, net	(3)	(12)
Transfers into Level 3	8	40
Transfers out of Level 3	(131)	(706)
Ending Balance	153	654
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	(3)	4
Trading Mortgage Related Securities [Member] | Freddie Mac
Assets:
Beginning Balance	331	927
Included in Earnings	(5)	2
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(5)	2
Purchases	50	44
Issues	11	128
Sales	(139)	(5)
Settlements, net	(2)	(10)
Transfers into Level 3	8	34
Transfers out of Level 3	(131)	(609)
Ending Balance	123	511
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	(2)	2
Trading Mortgage Related Securities [Member] | Fannie Mae
Assets:
Beginning Balance	41	232
Included in Earnings	1	2
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	1	2
Purchases	0	0
Issues	0	0
Sales	(13)	(2)
Settlements, net	0	(2)
Transfers into Level 3	0	6
Transfers out of Level 3	0	(97)
Ending Balance	29	139
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	(1)	2
Trading Mortgage Related Securities [Member] | Ginnie Mae
Assets:
Beginning Balance		1
Included in Earnings		0
Included in Other Comprehensive Income		0
Total realized and unrealized gains (losses)		0
Purchases		0
Issues		0
Sales		(1)
Settlements, net		0
Transfers into Level 3		0
Transfers out of Level 3		0
Ending Balance		0
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets		0
Trading Mortgage Related Securities [Member] | Other
Assets:
Beginning Balance	2	4
Included in Earnings	0	4
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	0	4
Purchases	0	0
Issues	0	0
Sales	0	(4)
Settlements, net	(1)	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1	4
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	0	0
Other Asset [Member]
Assets:
Beginning Balance		1,631
Included in Earnings		(14)
Included in Other Comprehensive Income		0
Total realized and unrealized gains (losses)		(14)
Purchases		0
Issues		93
Sales		0
Settlements, net		(135)
Transfers into Level 3		0
Transfers out of Level 3		0
Ending Balance		1,575
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets		(14)
Guarantee Asset [Member]
Assets:
Beginning Balance	1,753	1,626
Included in Earnings	58	(15)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	58	(15)
Purchases	142	0
Issues	16	93
Sales	0	0
Settlements, net	(75)	(135)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1,894	1,569
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets	$ 58	(15)
All Other Assets [Member]
Assets:
Beginning Balance		5
Included in Earnings		1
Included in Other Comprehensive Income		0
Total realized and unrealized gains (losses)		1
Purchases		0
Issues		0
Sales		0
Settlements, net		0
Transfers into Level 3		0
Transfers out of Level 3		0
Ending Balance		6
Unrealized Gains (Losses) Still Held:
Unrealized Gains (Losses) Still Held - Assets		$ 1

Fair Value Disclosures - Quanti

Fair Value Disclosures - Quantitative Information about Recurring Level 3 Fair Value Measurements for Assets and Liabilities Measured on Our Consolidated Balance Sheets at Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	$ 71,124,000,000	$ 74,937,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	36,471,000,000	39,278,000,000
Investments, Fair Value Disclosure	107,595,000,000	114,215,000,000
Other assets:
Guarantee Assets Fair Value Disclosure	1,894,000,000	1,753,000,000
Liabilities [Abstract]
All Other Liabilites	8,000,000	10,000,000
Mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	21,233,000,000	22,127,000,000
Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	34,275,000,000	33,527,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	14,771,000,000	15,513,000,000
Fannie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	6,847,000,000	7,262,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	6,182,000,000	6,438,000,000
Ginnie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	155,000,000	162,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	144,000,000	30,000,000
CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	10,067,000,000	12,448,000,000
Subprime
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	11,947,000,000	12,802,000,000
Option ARM
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,325,000,000	3,678,000,000
Alt-A and other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,940,000,000	3,278,000,000
Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,012,000,000	1,205,000,000
Manufactured housing
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	556,000,000	575,000,000
Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	136,000,000	146,000,000
Fair Value, Inputs, Level 3 [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	27,861,000,000	27,767,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	153,000,000	374,000,000
Investments, Fair Value Disclosure	28,014,000,000	28,141,000,000
Other assets:
Guarantee Assets Fair Value Disclosure	1,894,000,000	1,753,000,000
Liabilities [Abstract]
All Other Liabilites	8,000,000	10,000,000
Fair Value, Inputs, Level 3 [Member] | Net Derivatives [Member]
Liabilities [Abstract]
Net Derivative Liability (Asset)	11,000,000	8,000,000
Fair Value, Inputs, Level 3 [Member] | Net Derivatives [Member] | Other
Liabilities [Abstract]
Net Derivative Liability (Asset)	11,000,000	8,000,000
Fair Value, Inputs, Level 3 [Member] | All Other Liabilities [Member]
Liabilities [Abstract]
All Other Liabilites	8,000,000	10,000,000
Fair Value, Inputs, Level 3 [Member] | All Other Liabilities [Member] | Other
Liabilities [Abstract]
All Other Liabilites	8,000,000	10,000,000
Fair Value, Inputs, Level 3 [Member] | Mortgage-related securities
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	27,861,000,000	27,767,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	153,000,000	374,000,000
Investments, Fair Value Disclosure	28,014,000,000	28,141,000,000
Fair Value, Inputs, Level 3 [Member] | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	4,369,000,000	2,608,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	123,000,000	331,000,000
Fair Value, Inputs, Level 3 [Member] | Freddie Mac | Risk Metric [Member]
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	11,000,000	19,000,000
Fair Value, Inputs, Level 3 [Member] | Freddie Mac | Discounted Cash Flows [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,699,000,000	2,145,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	95,000,000	249,000,000
Fair Value, Inputs, Level 3 [Member] | Freddie Mac | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	670,000,000	463,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	17,000,000	63,000,000
Fair Value, Inputs, Level 3 [Member] | Fannie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	84,000,000	90,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	29,000,000	41,000,000
Fair Value, Inputs, Level 3 [Member] | Fannie Mae | Median of External Sources [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	36,000,000	37,000,000
Fair Value, Inputs, Level 3 [Member] | Fannie Mae | Single External Source [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	33,000,000	36,000,000
Fair Value, Inputs, Level 3 [Member] | Fannie Mae | Discounted Cash Flows [Member]
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	29,000,000	41,000,000
Fair Value, Inputs, Level 3 [Member] | Fannie Mae | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	15,000,000	17,000,000
Fair Value, Inputs, Level 3 [Member] | Ginnie Mae
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,000,000	1,000,000
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Ginnie Mae | Discounted Cash Flows [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,000,000	1,000,000
Fair Value, Inputs, Level 3 [Member] | CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,627,000,000	3,530,000,000
Fair Value, Inputs, Level 3 [Member] | CMBS | Risk Metric [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,610,000,000	3,530,000,000
Fair Value, Inputs, Level 3 [Member] | CMBS | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	17,000,000
Fair Value, Inputs, Level 3 [Member] | Subprime
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	11,947,000,000	12,802,000,000
Fair Value, Inputs, Level 3 [Member] | Subprime | Median of External Sources [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	11,406,000,000	11,652,000,000
Fair Value, Inputs, Level 3 [Member] | Subprime | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	541,000,000	1,150,000,000
Fair Value, Inputs, Level 3 [Member] | Option ARM
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,325,000,000	3,678,000,000
Fair Value, Inputs, Level 3 [Member] | Option ARM | Median of External Sources [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	3,093,000,000	3,190,000,000
Fair Value, Inputs, Level 3 [Member] | Option ARM | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	232,000,000	488,000,000
Fair Value, Inputs, Level 3 [Member] | Alt-A and other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,940,000,000	3,278,000,000
Fair Value, Inputs, Level 3 [Member] | Alt-A and other | Median of External Sources [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,153,000,000	2,601,000,000
Fair Value, Inputs, Level 3 [Member] | Alt-A and other | Single External Source [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	477,000,000	506,000,000
Fair Value, Inputs, Level 3 [Member] | Alt-A and other | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	310,000,000	171,000,000
Fair Value, Inputs, Level 3 [Member] | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,012,000,000	1,205,000,000
Fair Value, Inputs, Level 3 [Member] | Obligations of states and political subdivisions | Median of External Sources [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	917,000,000	1,099,000,000
Fair Value, Inputs, Level 3 [Member] | Obligations of states and political subdivisions | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	95,000,000	106,000,000
Fair Value, Inputs, Level 3 [Member] | Manufactured housing
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	556,000,000	575,000,000
Fair Value, Inputs, Level 3 [Member] | Manufactured housing | Median of External Sources [Member]
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	485,000,000	505,000,000
Fair Value, Inputs, Level 3 [Member] | Manufactured housing | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	71,000,000	70,000,000
Fair Value, Inputs, Level 3 [Member] | Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,000,000	2,000,000
Fair Value, Inputs, Level 3 [Member] | Other | Median of External Sources [Member]
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure		1,000,000
Fair Value, Inputs, Level 3 [Member] | Other | Discounted Cash Flows [Member]
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	$ 1,000,000	$ 1,000,000
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Freddie Mac | Weighted Average [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS	0.97%	0.86%
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Freddie Mac | Minimum [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS	(0.38%)	(0.46%)
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Freddie Mac | Maximum [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS	4.91%	5.03%
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | CMBS | Weighted Average [Member] | Risk Metric [Member]
Fair Value Inputs, Quantitative Information [Abstract]
Effective Duration	9 years 3 months 26 days	9 years 6 months 26 days
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | CMBS | Minimum [Member] | Risk Metric [Member]
Fair Value Inputs, Quantitative Information [Abstract]
Effective Duration	2 years 10 months 24 days	3 years 1 month 24 days
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | CMBS | Maximum [Member] | Risk Metric [Member]
Fair Value Inputs, Quantitative Information [Abstract]
Effective Duration	10 years 9 months 7 days	11 years 7 days
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Subprime | Weighted Average [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	$ 72.1	$ 75
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Subprime | Minimum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	70.2	73.2
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Subprime | Maximum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	74.2	77.3
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Option ARM | Weighted Average [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	67.3	69.9
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Option ARM | Minimum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	64.6	67.8
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Option ARM | Maximum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	69.5	72.4
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Alt-A and other | Weighted Average [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	86.7	87.6
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Alt-A and other | Weighted Average [Member] | Single External Source [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	83.8	84.7
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Alt-A and other | Minimum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	84.9	85.8
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Alt-A and other | Minimum [Member] | Single External Source [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	83.8	84.7
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Alt-A and other | Maximum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	88.2	89.3
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Alt-A and other | Maximum [Member] | Single External Source [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	83.8	84.7
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Obligations of states and political subdivisions | Weighted Average [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	101.7	101.6
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Obligations of states and political subdivisions | Minimum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	101.5	101.4
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Obligations of states and political subdivisions | Maximum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	101.9	101.8
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Manufactured housing | Weighted Average [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	91.5	92.1
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Manufactured housing | Minimum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	90	90.4
Fair Value, Inputs, Level 3 [Member] | Available-For-Sale Mortgage-Related Securities [Member] | Manufactured housing | Maximum [Member] | Median of External Sources [Member]
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	93.3	$ 93.7
Fair Value, Inputs, Level 3 [Member] | Trading Mortgage Related Securities [Member] | Freddie Mac | Weighted Average [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS		1.29%
Fair Value, Inputs, Level 3 [Member] | Trading Mortgage Related Securities [Member] | Freddie Mac | Minimum [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS		(13.15%)
Fair Value, Inputs, Level 3 [Member] | Trading Mortgage Related Securities [Member] | Freddie Mac | Maximum [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS		19.59%
Fair Value, Inputs, Level 3 [Member] | Guarantee Asset [Member]
Other assets:
Guarantee Assets Fair Value Disclosure	1,894,000,000	$ 1,753,000,000
Fair Value, Inputs, Level 3 [Member] | Guarantee Asset [Member] | Discounted Cash Flows [Member]
Other assets:
Guarantee Assets Fair Value Disclosure	1,763,000,000	1,623,000,000
Fair Value, Inputs, Level 3 [Member] | Guarantee Asset [Member] | Other
Other assets:
Guarantee Assets Fair Value Disclosure	$ 131,000,000	$ 130,000,000
Fair Value, Inputs, Level 3 [Member] | Guarantee Asset [Member] | Weighted Average [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS	0.58%	0.57%
Fair Value, Inputs, Level 3 [Member] | Guarantee Asset [Member] | Minimum [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS	0.17%	0.17%
Fair Value, Inputs, Level 3 [Member] | Guarantee Asset [Member] | Maximum [Member] | Discounted Cash Flows [Member]
Fair Value Inputs, Quantitative Information [Abstract]
OAS	1.98%	1.98%

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosures - Quantitative Information about Non-Recurring Level 3 Fair Value Measurements for Assets and Liabilities Measured on Our Consolidated Balance Sheets at Fair Value (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	$ 4,499,000,000	$ 6,981,000,000
Reo Net Fair Value Disclosure	839,000,000	1,046,000,000
Fair Value, Inputs, Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	3,729,000,000	5,851,000,000
Reo Net Fair Value Disclosure	839,000,000	1,046,000,000
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member]
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	$ 3,729,000,000	$ 5,851,000,000
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Minimum [Member] | Income Capitalization [Member]
Assets, Fair Value Disclosure [Abstract]
Capitalization rates	6.00%	6.00%
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Minimum [Member] | Third-Party Appraisal [Member]
Assets, Fair Value Disclosure [Abstract]
Property Value	$ 1,000,000	$ 1,000,000
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Minimum [Member] | Internal Model [Member]
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 3,000	$ 3,000
Housing Sales Index	0.41%	0.44%
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Minimum [Member] | Median of External Sources [Member]
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	$ 38.1	$ 39
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Maximum [Member] | Income Capitalization [Member]
Assets, Fair Value Disclosure [Abstract]
Capitalization rates	9.00%	9.00%
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Maximum [Member] | Third-Party Appraisal [Member]
Assets, Fair Value Disclosure [Abstract]
Property Value	$ 30,000,000	$ 30,000,000
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Maximum [Member] | Internal Model [Member]
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 788,699	$ 788,699
Housing Sales Index	4.70%	4.28%
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Maximum [Member] | Median of External Sources [Member]
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	$ 94.1	$ 94.6
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Weighted Average [Member] | Income Capitalization [Member]
Assets, Fair Value Disclosure [Abstract]
Capitalization rates	6.00%	7.00%
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Weighted Average [Member] | Third-Party Appraisal [Member]
Assets, Fair Value Disclosure [Abstract]
Property Value	$ 28,000,000	$ 28,000,000
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Weighted Average [Member] | Internal Model [Member]
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 191,075	$ 191,957
Housing Sales Index	0.91%	0.90%
Fair Value, Inputs, Level 3 [Member] | Mortgage loans [Member] | Weighted Average [Member] | Median of External Sources [Member]
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	$ 69.4	$ 70
Fair Value, Inputs, Level 3 [Member] | Reo Net At Fair Value [Member]
Assets, Fair Value Disclosure [Abstract]
Reo Net Fair Value Disclosure	839,000,000	1,046,000,000
Fair Value, Inputs, Level 3 [Member] | Reo Net At Fair Value [Member] | Minimum [Member] | Internal Model [Member]
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 3,000	$ 3,000
Housing Sales Index	0.43%	0.44%
Fair Value, Inputs, Level 3 [Member] | Reo Net At Fair Value [Member] | Maximum [Member] | Internal Model [Member]
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 677,440	$ 581,751
Housing Sales Index	4.70%	4.28%
Fair Value, Inputs, Level 3 [Member] | Reo Net At Fair Value [Member] | Weighted Average [Member] | Internal Model [Member]
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 154,037	$ 155,885
Housing Sales Index	0.88%	0.87%

Fair Value Disclosures - Fair V

Fair Value Disclosures - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Financial Assets
Securities purchased under agreement to resell	$ 40,098	$ 63,644
Mortgage Loans [Abstract]
Derivative Assets	814	395
Netting Adjustment	(13,290)	(9,396)
Advances To Lenders	680	910
Debt, net
Debt, net	6,915	7,184
Derivative Liabilities	1,632	1,254
Netting Adjustment	(18,777)	(11,157)
Held by consolidated trusts
Financial Assets
Securities purchased under agreement to resell	17,350	14,840
GAAP Carrying Amount
Financial Assets
Cash and Cash Equivalents	6,158	5,595
Restricted Cash and Cash Equivalents	16,671	14,533
Securities purchased under agreement to resell	40,098	63,644
Investments in Securities [Abstract]
Available-for-sale, at fair value	71,124	74,937
Trading, at fair value	36,471	39,278
Total investments in securities	107,595	114,215
Mortgage Loans [Abstract]
Mortgage loans	1,762,633	1,754,193
Derivative Assets	814	395
Guarantee Assets	1,894	1,753
Non Derivative Purchase Commitments (Assets)	74
Advances To Lenders	680	910
Total financial assets	1,936,617	1,955,238
Debt, net
Debt, net	1,955,618	1,970,427
Derivative Liabilities	1,632	1,254
Guarantee obligation	1,808	1,729
Non Derivative Purchase Commitments (Liabilities)	24
Total Financial Liabilities	1,959,082	1,973,410
GAAP Carrying Amount | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,635,242	1,625,184
Debt, net
Debt, net	1,568,183	1,556,121
GAAP Carrying Amount | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	127,391	129,009
Debt, net
Debt, net	387,435	414,306
Fair Value
Financial Assets
Cash and Cash Equivalents	6,158	5,595
Restricted Cash and Cash Equivalents	16,671	14,533
Securities purchased under agreement to resell	40,098	63,644
Investments in Securities [Abstract]
Available-for-sale, at fair value	71,124	74,937
Trading, at fair value	36,471	39,278
Total investments in securities	107,595	114,215
Mortgage Loans [Abstract]
Mortgage loans	1,801,591	1,769,162
Derivative Assets	814	395
Guarantee Assets	2,104	1,958
Non Derivative Purchase Commitments (Assets)	114
Advances To Lenders	680	910
Total financial assets	1,975,825	1,970,412
Debt, net
Debt, net	2,055,040	2,044,162
Derivative Liabilities	1,632	1,254
Guarantee obligation	3,303	3,129
Non Derivative Purchase Commitments (Liabilities)	57
Total Financial Liabilities	2,060,032	2,048,545
Fair Value | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,673,031	1,640,198
Debt, net
Debt, net	1,660,184	1,624,824
Fair Value | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	128,560	128,964
Debt, net
Debt, net	394,856	419,338
Fair Value | Level 1
Financial Assets
Cash and Cash Equivalents	6,158	5,595
Restricted Cash and Cash Equivalents	16,671	14,533
Securities purchased under agreement to resell	0	0
Investments in Securities [Abstract]
Available-for-sale, at fair value	0	0
Trading, at fair value	15,238	17,151
Total investments in securities	15,238	17,151
Mortgage Loans [Abstract]
Mortgage loans	0	0
Derivative Assets	0	0
Guarantee Assets	0	0
Non Derivative Purchase Commitments (Assets)	0
Advances To Lenders	0	0
Total financial assets	38,067	37,279
Debt, net
Debt, net	0	0
Derivative Liabilities	0	0
Guarantee obligation	0	0
Non Derivative Purchase Commitments (Liabilities)	0
Total Financial Liabilities	0	0
Fair Value | Level 1 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	0	0
Debt, net
Debt, net	0	0
Fair Value | Level 1 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	0	0
Debt, net
Debt, net	0	0
Fair Value | Level 2
Financial Assets
Cash and Cash Equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Securities purchased under agreement to resell	40,098	63,644
Investments in Securities [Abstract]
Available-for-sale, at fair value	43,263	47,170
Trading, at fair value	21,080	21,753
Total investments in securities	64,343	68,923
Mortgage Loans [Abstract]
Mortgage loans	1,554,635	1,509,082
Derivative Assets	14,081	9,766
Guarantee Assets	0	0
Non Derivative Purchase Commitments (Assets)	106
Advances To Lenders	0	910
Total financial assets	1,673,263	1,652,325
Debt, net
Debt, net	2,045,574	2,036,771
Derivative Liabilities	20,375	12,378
Guarantee obligation	0	0
Non Derivative Purchase Commitments (Liabilities)	29
Total Financial Liabilities	2,065,978	2,049,149
Fair Value | Level 2 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,517,455	1,477,251
Debt, net
Debt, net	1,656,668	1,624,019
Fair Value | Level 2 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	37,180	31,831
Debt, net
Debt, net	388,906	412,752
Fair Value | Level 3
Financial Assets
Cash and Cash Equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Securities purchased under agreement to resell	0	0
Investments in Securities [Abstract]
Available-for-sale, at fair value	27,861	27,767
Trading, at fair value	153	374
Total investments in securities	28,014	28,141
Mortgage Loans [Abstract]
Mortgage loans	246,956	260,080
Derivative Assets	23	25
Guarantee Assets	2,104	1,958
Non Derivative Purchase Commitments (Assets)	8
Advances To Lenders	680	0
Total financial assets	277,785	290,204
Debt, net
Debt, net	9,466	7,391
Derivative Liabilities	34	33
Guarantee obligation	3,303	3,129
Non Derivative Purchase Commitments (Liabilities)	28
Total Financial Liabilities	12,831	10,553
Fair Value | Level 3 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	155,576	162,947
Debt, net
Debt, net	3,516	805
Fair Value | Level 3 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	91,380	97,133
Debt, net
Debt, net	$ 5,950	$ 6,586

Fair Value Disclosures - Differ

Fair Value Disclosures - Difference between Fair Value and Unpaid Principal Balance for Certain Financial Instruments with Fair Value Option Elected (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Loans Held For Sale, Fair Value	$ 22,415	$ 17,660
Loans Held For Sale, Unpaid Principal Balance, With Fair Value Option Elected	21,995	17,673
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables	420	(13)
Long-Term Debt, Fair Value	6,793	7,045
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	6,842	7,093
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	$ (49)	$ (48)

Legal Contingencies (Details)

Legal Contingencies (Details) $ in Millions	Apr. 19, 2016USD ($)	Dec. 29, 2014USD ($)	Mar. 14, 2013numberofdefendants	May. 14, 2010USD ($)	Sep. 20, 2013USD ($)
Lloyds
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value		$ 111
LIBOR Lawsuit
Loss Contingencies [Line Items]
Number of defendants | numberofdefendants			16
Arrowood lawsuit | Arrowood Indemnity Company
Loss Contingencies [Line Items]
Preferred Stock, Value, Outstanding					$ 42
Unasserted claim | Stockholder letter | Subsequent Event [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 14,100
Unasserted claim | TBW Bankruptcy, Underwriters
Loss Contingencies [Line Items]
Amount of mortgage bankers bonds to be rescinded				$ 90

Regulatory Capital Regulatory C

Regulatory Capital Regulatory Capital - Net Worth and Minimum Capital (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Net Worth and Minimum Capital [Abstract]
GAAP net worth (deficit)	$ 1,000	$ 2,940
Core capital (deficit)	(72,643)	(70,549)
Minimum capital requirement	19,057	19,687
Minimum capital surplus (deficit)	$ (91,700)	$ (90,236)

Selected Financial Statement 97

Selected Financial Statement Line Items - Significant Components of Other Income (Loss) on Our Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other income (loss):
Gains (losses) on mortgage loans	$ 478	$ (200)
Other	456	400
Total other income (loss)	947	11
Other Expense
Property tax and insurance on held for sale loans	(27)	(360)
Other (expense) income	(126)	(103)
Total other (expense) income	(153)	(463)
Long-term Debt [Member]
Other income (loss):
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 13	$ (189)

Selected Financial Statement 98

Selected Financial Statement Line Items - Significant Components of Other Assets and Other Liabilities on Our Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Other assets:
Accounts and other receivables	$ 4,960	$ 3,625
Current income tax receivable	753	26
Guarantee asset	1,894	1,753
Advances To Lenders	680	910
Fixed assets	526	502
All other	533	497
Total other assets	9,346	7,313
Other liabilities:
Servicer liabilities	1,071	1,191
Guarantee obligation	1,808	1,729
Accounts payable and accrued expenses	1,159	1,286
All other	765	1,040
Total other liabilities	$ 4,803	$ 5,246