Federal Home Loan Mortgage (FMCC) 10-Q 1 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 17, 2018
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, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		650,058,775

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest income
Mortgage loans	$ 15,951	$ 15,965
Investments in securities	810	914
Other	214	101
Total interest income	16,975	16,980
Interest expense	(13,957)	(13,185)
Net interest income	3,018	3,795
Benefit (provision) for credit losses	(63)	116
Net interest income after benefit (provision) for credit losses	2,955	3,911
Non-interest income (loss)
Gains (losses) on extinguishment of debt	110	218
Derivative gains (losses)	1,830	(302)
Net impairment of available-for-sale securities recognized in earnings	0	(13)
Other gains (losses) on investment securities recognized in earnings	(232)	56
Other income (loss)	121	415
Non-interest income (loss)	1,829	374
Non-interest expense
Salaries and employee benefits	(286)	(275)
Professional services	(102)	(112)
Other administrative expense	(132)	(124)
Total administrative expense	(520)	(511)
Real estate owned operations expense	(34)	(56)
Temporary Payroll Tax Cut Continuation Act of 2011 expense	(359)	(321)
Other expense	(197)	(76)
Non-interest expense	(1,110)	(964)
Income (loss) before income tax (expense) benefit	3,674	3,321
Income tax (expense) benefit	(748)	(1,110)
Net income (loss)	2,926	2,211
Other comprehensive income (loss), net of taxes and reclassification adjustments:
Changes in unrealized gains (losses) related to available-for-sale securities	(800)	(2)
Changes in unrealized gains (losses) related to cash flow hedge relationships	30	28
Changes in defined benefit plans	(6)	(3)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(776)	23
Comprehensive income (loss)	2,150	2,234
Net income (loss)	2,926	2,211
Undistributed net worth sweep and senior preferred stock dividends	0	(2,234)
Net income (loss) attributable to common stockholders	$ 2,926	$ (23)
Net income (loss) per common share — basic and diluted	$ 0.90	$ (0.01)
Weighted average common shares outstanding (in millions) — basic and diluted	3,234	3,234

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents (Notes 1, 3 and 14) (includes $3,398 and $2,963 of restricted cash and cash equivalents)	$ 8,617	$ 9,811
Securities purchased under agreements to resell (Notes 3, 10)	41,828	55,903
Investments in securities, at fair value (Note 7)	75,501	84,318
Mortgage loans held-for-sale (Note 3, 4) (includes $15,832 and $20,054 at fair value)	27,615	34,763
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $8,848 and $8,966)	1,840,736	1,836,454
Accrued interest receivable (Note 3)	6,381	6,355
Derivative assets, net (Notes 9, 10)	454	375
Deferred tax assets, net (Note 12)	8,313	8,107
Other assets (Notes 3, 18) (includes $3,502 and $3,353 at fair value)	13,038	13,690
Total assets	2,022,483	2,049,776
Liabilities
Accrued interest payable (Note 3)	6,058	6,221
Debt, net (Notes 3, 8) (includes $5,617 and $5,799 at fair value)	2,004,807	2,034,630
Derivative liabilities, net (Notes 9, 10)	345	269
Other liabilities (Notes 3, 18)	9,123	8,968
Total liabilities	2,020,333	2,050,088
Commitments and contingencies (Notes 5, 9 and 16)
Equity (Note 11)
Senior preferred stock (redemption value of $75,648 and $75,336)	72,648	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 650,054,986 shares and 650,054,731 shares outstanding	0	0
Additional paid-in capital	0	0
Retained earnings (accumulated deficit)	(80,424)	(83,261)
AOCI, net of taxes, related to:
Available-for-sale securities (includes $363 and $593, related to net unrealized gains on securities for which other-than-temporary impairment has been recognized in earnings)	5	662
Cash flow hedge relationships	(399)	(356)
Defined benefit plans	96	83
Total AOCI, net of taxes	(298)	389
Treasury stock, at cost, 75,808,900 shares and 75,809,155 shares	(3,885)	(3,885)
Total equity (See Note 11 for information on our dividend requirement to Treasury)	2,150	(312)
Total liabilities and equity	2,022,483	2,049,776
Consolidated Balance Sheet Line Item
Mortgage loans held-for-sale (Note 3, 4) (includes $15,832 and $20,054 at fair value)	27,615	34,763
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $8,848 and $8,966)	1,840,736	1,836,454
Total assets	2,022,483	2,049,776
Debt, net (Notes 3, 8) (includes $5,617 and $5,799 at fair value)	2,004,807	2,034,630
Total liabilities	2,020,333	2,050,088
Held by consolidated trusts
Assets
Securities purchased under agreements to resell (Notes 3, 10)	14,275	16,750
Mortgage loans held-for-sale (Note 3, 4) (includes $15,832 and $20,054 at fair value)	0	0
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $8,848 and $8,966)	1,778,010	1,774,286
Accrued interest receivable (Note 3)	5,775	5,747
Other assets (Notes 3, 18) (includes $3,502 and $3,353 at fair value)	2,273	2,738
Total assets	1,801,498	1,800,039
Liabilities
Accrued interest payable (Note 3)	5,045	5,028
Debt, net (Notes 3, 8) (includes $5,617 and $5,799 at fair value)	1,726,969	1,720,996
Other liabilities (Notes 3, 18)	0	2
Total liabilities	1,732,014	1,726,026
Consolidated Balance Sheet Line Item
Mortgage loans held-for-sale (Note 3, 4) (includes $15,832 and $20,054 at fair value)	0	0
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $8,848 and $8,966)	1,778,010	1,774,286
All other assets	23,488	25,753
Total assets	1,801,498	1,800,039
Debt, net (Notes 3, 8) (includes $5,617 and $5,799 at fair value)	1,726,969	1,720,996
All other liabilities	5,045	5,030
Total liabilities	$ 1,732,014	$ 1,726,026

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Restricted Cash and Cash Equivalents	$ 3,398,000,000	$ 2,963,000,000
Mortgages Held-for-sale, Fair Value Disclosure	15,832,000,000	20,054,000,000
Allowance for loan losses	8,848,000,000	8,966,000,000
Debt instrument recorded at fair value	5,617,000,000	5,799,000,000
Senior preferred stock, at redemption value	$ 75,648,000,000	$ 75,336,000,000
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	650,054,986	650,054,731
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	$ 363,000,000	$ 593,000,000
Treasury Stock, Shares	75,808,900	75,809,155
Other Assets, Fair Value Disclosure	$ 3,502,000,000	$ 3,353,000,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net Cash Provided by (Used in) Operating Activities	$ 4,643,000,000	$ (17,000,000)
Cash flows from investing activities
Purchases of trading securities	(29,949,000,000)	(55,647,000,000)
Proceeds from sales of trading securities	32,487,000,000	44,936,000,000
Proceeds from maturities and repayments of trading securities	1,471,000,000	2,383,000,000
Purchases of available-for-sale securities	(4,266,000,000)	(2,610,000,000)
Proceeds from sales of available-for-sale securities	6,351,000,000	5,327,000,000
Proceeds from maturities and repayments of available-for-sale securities	1,541,000,000	3,796,000,000
Purchases of held-for-investment mortgage loans	(30,737,000,000)	(26,993,000,000)
Proceeds from sales of mortgage loans held-for-investment	2,282,000,000	96,000,000
Repayments of mortgage loans held-for-investment	60,542,000,000	64,253,000,000
Advances to lenders	(4,944,000,000)	(8,251,000,000)
Net proceeds from dispositions of real estate owned and other recoveries	352,000,000	473,000,000
Net (increase) decrease in securities purchased under agreements to resell	14,075,000,000	291,000,000
Derivative premiums and terminations, swap collateral, and exchange settlement payments, net	2,958,000,000	(240,000,000)
Changes in other assets	(143,000,000)	(77,000,000)
Net Cash Provided by (Used in) Investing Activities	52,020,000,000	27,737,000,000
Cash flows from financing activities
Increase in liquidation preference of senior preferred stock	312,000,000	0
Payment of cash dividends on senior preferred stock	0	(4,475,000,000)
Changes in other liabilities	(1,000,000)	0
Net Cash Provided by (Used in) Financing Activities	(57,857,000,000)	(37,424,000,000)
Net (decrease) increase in cash and cash equivalents (includes restricted cash and cash equivalents)	(1,194,000,000)	(9,704,000,000)
Cash and cash equivalents (includes restricted cash and cash equivalents) at beginning of year	9,811,000,000	22,220,000,000
Cash and cash equivalents (includes restricted cash and cash equivalents) at end of period	8,617,000,000	12,516,000,000
Cash paid for:
Debt interest	16,306,000,000	15,647,000,000
Income taxes	0	0
Held by Freddie Mac
Cash flows from financing activities
Proceeds from issuance of debt	131,574,000,000	165,060,000,000
Repayments of debt	(166,686,000,000)	(163,852,000,000)
Held by consolidated trusts
Cash flows from financing activities
Proceeds from issuance of debt	42,558,000,000	43,036,000,000
Repayments of debt	$ (65,614,000,000)	$ (77,193,000,000)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
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, 2017, or 2017 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 2017 Annual Report. Throughout this Form 10-Q, we refer to the three months ended March 31, 2018, the three months ended December 31, 2017, the three months ended September 30, 2017, the three months ended June 30, 2017 and the three months ended March 31, 2017 as "1Q 2018," "4Q 2017," "3Q 2017," "2Q 2017" and "1Q 2017," respectively. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our 2017 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 as authorized by FHFA through our Board of Directors and management. Certain amounts in prior periods’ condensed consolidated financial statements have been reclassified to conform to the current presentation. In the opinion of management, our unaudited condensed consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary for a fair statement of our results. 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 credit losses, valuing financial instruments and other assets and liabilities and assessing impairments on investments. Actual results could be different from these estimates. Recently Issued Accounting Guidance Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Condensed Consolidated Financial Statements ASU 2014-09 , Revenue from Contracts with Customers (Topic 606) and ASU 2015-14 , Topic 606: Deferral of the Effective Date The amendment requires entities to recognize revenue to depict the transfer of promised goods or services to customers in amounts that reflect the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2015-14 defers the effective date of ASU 2014-09 for all entities by one year. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2016-01 , Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10) The amendment addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2016-08 , Topic 606: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) The amendments in this Update do not change the core principle of the guidance in Topic 606. The amendments clarify the implementation guidance on principal versus agent considerations. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2016-10 , Topic 606: Identifying Performance Obligations and Licensing The amendments in this Update do not change the core principle of the guidance in Topic 606, but they clarify two issues: i) identifying performance obligations; and ii) licensing. These clarifications are intended to reduce diversity in practice and to reduce the cost and complexity of Topic 606 at transition and on an ongoing basis. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2016-12 , Topic 606: Narrow-Scope Improvements and Practical Expedients The amendments in this Update do not change the core principle of the guidance in Topic 606, but affect aspects of the guidance and technical corrections. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Condensed Consolidated Financial Statements ASU 2016-15 , Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) The main objective of this Update is to address the diversity in practice that currently exists in regards to how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and other Topics. This Update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. January 1, 2018 Upon adoption, the portion of the cash payment attributable to the accreted interest related to zero-coupon debt is presented in the operating activities section, a classification change from the financing activities section where this item was previously presented. As a result, we reclassified approximately $71 million of cash payments from financing activities to operating activities on our condensed consolidated statements of cash flows for 1Q 2017 upon adoption. ASU 2016-18 , Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) The amendments in this Update address the diversity in the classification and presentation of changes in restricted cash on the statement of cash flows under Topic 230, Statement of Cash Flows. Specifically, this amendment dictates that the statement of cash flows should explain the change in the period of the total of cash, cash equivalents and restricted cash balances. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements; however, we modified the presentation of restricted cash and cash equivalent balances on our condensed consolidated balance sheets. The presentation of our condensed consolidated statements of cash flows has also been revised to reflect the change of total cash and cash equivalents and restricted cash and cash equivalents balances. ASU 2016-20 , Technical Corrections and Improvements to Topic 606 The amendments in this Update are of a similar nature to the items typically addressed in the Technical Corrections and Improvements project. However, the Board decided to issue a separate Update for technical corrections and improvements to Topic 606 and other Topics amended by Update 2014-09 to increase stakeholders’ awareness of the proposals and to expedite improvements to Update 2014-09. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2018-02 , Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The amendments in this Update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. January 1, 2018 Upon adoption, we reclassified approximately $89 million from accumulated other comprehensive income to retained earnings on our condensed consolidated financial statements. ASU 2018-03 , Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities The amendments clarify certain aspects of the guidance issued in Update 2016-01 and address six specific issues. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Condensed Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on 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. ASU 2016-13 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The amendments in this Update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects lifetime expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. January 1, 2020 While we are evaluating the effect that the adoption of this amendment will have on our consolidated financial statements, it will increase (perhaps substantially) our provision for credit losses in the period of adoption.

Conservatorship and Related Mat

Conservatorship and Related Matters	3 Months Ended
	Mar. 31, 2018
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 provided for the Board of Directors to perform certain functions and to oversee management, and the board delegated to management authority to conduct business operations so that the company can continue to operate in the ordinary course. The directors serve on behalf of, and perform such functions as provided by, the Conservator. We are also subject to certain constraints on our business activities under the Purchase Agreement. However, 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 $250 billion at December 31, 2018 and was $241.0 billion at March 31, 2018 . 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 cap established by the Purchase Agreement (subject to certain exceptions). 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: n Keeping us solvent; n Allowing us to focus on our primary business objectives under conservatorship; and n Avoiding the appointment of a receiver by FHFA under statutory mandatory receivership provisions. At December 31, 2017, our liabilities exceeded our assets under GAAP; therefore, FHFA, as Conservator, submitted a draw request, on our behalf, to Treasury under the Purchase Agreement to eliminate our net worth deficit. As a result, we received $312 million from Treasury under the Purchase Agreement during 1Q 2018. The amount of available funding remaining under the Purchase Agreement was reduced to $140.2 billion and will be reduced by any future draws. See Note 8 and Note 11 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. 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 1Q 2018, we contributed $41 million of capital to CSS, and we have contributed $370 million since the fourth quarter of 2014.

Securitization Activities and C

Securitization Activities and Consolidation	3 Months Ended
	Mar. 31, 2018
Securitization Activities and Consolidation [Abstract]
Variable Interest Entity Disclosure [Text Block]	Securitization Activities and Consolidation 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. See Note 5 for additional information on our guarantee activities. Consolidated VIEs The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on our condensed consolidated balance sheets. (In millions) March 31, 2018 December 31, 2017 Consolidated Balance Sheet Line Item Assets: Restricted cash and cash equivalents $1,165 $518 Securities purchased under agreements to resell 14,275 16,750 Mortgage loans held-for-investment 1,778,010 1,774,286 Accrued interest receivable 5,775 5,747 Other assets 2,273 2,738 Total assets of consolidated VIEs $1,801,498 $1,800,039 Liabilities: Accrued interest payable $5,045 $5,028 Debt, net 1,726,969 1,720,996 Other liabilities — 2 Total liabilities of consolidated VIEs $1,732,014 $1,726,026 Non-Consolidated VIEs 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 condensed consolidated balance sheets related to our variable interests in non-consolidated 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. We do not believe the maximum exposure to loss disclosed in the table below is representative of the actual loss we are likely to incur, based on our historical loss experience and after consideration of proceeds from related collateral liquidation, including possible recoveries under credit enhancement arrangements. See Note 6 for additional information on credit enhancement arrangements. (In millions) March 31, 2018 December 31, 2017 Assets and Liabilities Recorded on our Condensed Consolidated Balance Sheets (1) Assets: Investments in securities $48,925 $51,494 Accrued interest receivable 235 233 Derivative assets, net 26 7 Other assets 2,706 2,591 Liabilities: Derivative liabilities, net 29 — Other liabilities 2,581 2,489 Maximum Exposure to Loss (2)(3) 211,465 200,196 Total Assets of Non-Consolidated VIEs (3) 245,591 232,762 (1) Includes our variable interests in REMICs and Stripped Giant PCs, K Certificates, SB Certificates, senior subordinate securitization structures and other securitization products that we do not consolidate. (2) Our maximum exposure to loss includes the guaranteed UPB of assets held by the non-consolidated VIEs, the UPB of unguaranteed securities that we acquired from these securitization transactions and the UPB of guarantor advances made to the holders of the guaranteed securities. (3) Our maximum exposure to loss and total assets of non-consolidated VIEs exclude our investments in and obligations to REMICs and Stripped Giant PCs, because we already consolidate the underlying collateral of these trusts on our condensed consolidated balance sheets. In addition, our maximum exposure to loss excludes other guarantees measured at fair value related to certain of our REMICs where our exposure may be unlimited. We generally reduce our exposure to these guarantees with unlimited exposure through separate contracts with third parties. We also obtain interests in various other VIEs created by third parties through the normal course of business. To the extent that we were not involved in the design and creation of these VIEs, they are excluded from the table above. Our interests in these VIEs are generally passive in nature and are not expected to result in us obtaining a controlling financial interest in these VIEs in the future.

Mortgage Loans and Loan Loss Re

Mortgage Loans and Loan Loss Reserves	3 Months Ended
	Mar. 31, 2018
Mortgage Loans on Real Estate [Abstract]
MORTGAGE LOANS AND LOAN LOSS RESERVES	Mortgage Loans and Allowance for Credit Losses The table below provides details of the loans on our condensed consolidated balance sheets. March 31, 2018 December 31, 2017 (In millions) Held by Freddie Mac Held by Total Held by Freddie Mac Held by Total Held-for-sale: Single-family $13,756 $— $13,756 $17,039 $— $17,039 Multifamily 16,383 — 16,383 20,537 — 20,537 Total UPB 30,139 — 30,139 37,576 — 37,576 Cost basis and fair value adjustments, net (2,524 ) — (2,524 ) (2,813 ) — (2,813 ) Total held-for-sale loans, net 27,615 — 27,615 34,763 — 34,763 Held-for-investment: Single-family 54,460 1,749,047 1,803,507 51,893 1,742,736 1,794,629 Multifamily 16,213 3,874 20,087 17,702 3,747 21,449 Total UPB 70,673 1,752,921 1,823,594 69,595 1,746,483 1,816,078 Cost basis adjustments (2,625 ) 28,615 25,990 (2,148 ) 31,490 29,342 Allowance for loan losses (5,322 ) (3,526 ) (8,848 ) (5,279 ) (3,687 ) (8,966 ) Total held-for-investment loans, net 62,726 1,778,010 1,840,736 62,168 1,774,286 1,836,454 Total loans, net $90,341 $1,778,010 $1,868,351 $96,931 $1,774,286 $1,871,217 During 1Q 2018 and 1Q 2017, we purchased $65.5 billion and $85.6 billion , respectively, in UPB of single-family loans and $1.0 billion and $1.3 billion , respectively, in UPB of multifamily loans that were classified as held-for-investment. During 1Q 2018 and 1Q 2017, we purchased $11.8 billion and $11.2 billion , respectively, in UPB of multifamily loans that were initially classified as held-for-sale. Our sales of multifamily loans occur primarily through the issuance of multifamily K Certificates and SB Certificates. During 1Q 2018 and 1Q 2017, we sold $16.2 billion and $9.9 billion , respectively, in UPB of held-for-sale multifamily loans. See Note 3 for more information on our K Certificates and SB Certificates. As part of our strategy to mitigate losses and reduce our holdings of less liquid assets, we completed sales of $1.8 billion in UPB of seasoned single-family loans during 1Q 2018. We did not have sales of seasoned single-family loans in 1Q 2017. Seasoned single-family mortgage loans include seriously delinquent and reperforming loans. We reclassified $1.7 billion in UPB of seasoned single-family loans from held-for-investment to held-for-sale during both 1Q 2018 and 1Q 2017. In addition, we reclassified $0.3 billion in UPB of multifamily mortgage loans from held-for-investment to held-for-sale during 1Q 2018. We did not reclassify any multifamily mortgage loans in 1Q 2017. For additional information regarding the fair value of our loans classified as held-for-sale, see Note 15 . Credit Quality Single-Family The current LTV ratio is one key factor we consider when estimating our allowance for credit losses for single-family loans. As current LTV ratios increase, the borrower’s equity in the home decreases, which may negatively affect the borrower’s ability to refinance 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 both March 31, 2018 and December 31, 2017 , based on data collected by us at loan delivery, approximately 9% 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 14 . 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, 2018 December 31, 2017 Current LTV Ratio Total Current LTV Ratio Total (In millions) ≤ 80 > 80 to 100 > 100 (1) ≤ 80 > 80 to 100 > 100 (1) 20 and 30-year or more, amortizing fixed-rate (2) $1,270,145 $199,335 $11,097 $1,480,577 $1,240,224 $214,177 $13,303 $1,467,704 15-year amortizing fixed-rate (2) 267,453 6,105 296 273,854 270,266 7,351 381 277,998 Adjustable-rate 47,364 2,474 19 49,857 48,596 2,963 28 51,587 Alt-A, interest-only, and option ARM 20,489 3,576 1,162 25,227 21,013 4,256 1,429 26,698 Total single-family loans $1,605,451 $211,490 $12,574 $1,829,515 $1,580,099 $228,747 $15,141 $1,823,987 (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 8.50% and 8.43% as of March 31, 2018 and December 31, 2017 , respectively. (2) As of March 31, 2018 and December 31, 2017 , $20.5 billion and $22.2 billion , respectively, in UPB of modified loans were categorized 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 the adjustment are determined at the time of modification rather than at a subsequent date. For reporting purposes: n 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 n 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 or adjustable interest-rate provisions. Multifamily The table below 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, 2018 December 31, 2017 Credit risk profile by internally assigned grade: (1) Pass $19,503 $20,963 Special mention 330 301 Substandard 234 169 Doubtful 2 — Total $20,069 $21,433 (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 administrative issues that may affect future repayment prospects but does not have current credit weaknesses; "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 tables below present the recorded investment of our single-family and multifamily loans, held-for-investment, by payment status. March 31, 2018 (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 $1,451,682 $13,478 $4,075 $11,342 $1,480,577 $11,337 15-year amortizing fixed-rate 272,305 855 187 507 273,854 507 Adjustable-rate 49,347 262 65 183 49,857 183 Alt-A, interest-only, and option ARM 22,224 1,046 436 1,521 25,227 1,520 Total single-family 1,795,558 15,641 4,763 13,553 1,829,515 13,547 Total multifamily 20,033 18 — 18 20,069 65 Total single-family and multifamily $1,815,591 $15,659 $4,763 $13,571 $1,849,584 $13,612 December 31, 2017 (In millions) Current One Two Three Months or (1) Total Non-accrual Single-family: 20 and 30-year or more, amortizing fixed-rate $1,431,342 $18,297 $5,660 $12,405 $1,467,704 $12,401 15-year amortizing fixed-rate 275,864 1,288 290 556 277,998 556 Adjustable-rate 50,915 383 84 205 51,587 205 Alt-A, interest-only, and option ARM 23,235 1,297 509 1,657 26,698 1,656 Total single-family 1,781,356 21,265 6,543 14,823 1,823,987 14,818 Total multifamily 21,414 — — 19 21,433 64 Total single-family and multifamily $1,802,770 $21,265 $6,543 $14,842 $1,845,420 $14,882 (1) Includes $4.2 billion and $4.1 billion of loans that were in the process of foreclosure as of March 31, 2018 and December 31, 2017 , respectively. The table below summarizes the delinquency rates of loans within our single-family credit guarantee and multifamily mortgage portfolios. (Dollars in millions) March 31, 2018 December 31, 2017 Single-family: (1) Non-credit-enhanced portfolio Serious delinquency rate 1.07 % 1.16 % Total number of seriously delinquent loans 73,914 81,668 Credit-enhanced portfolio: (2) Primary mortgage insurance: Serious delinquency rate 1.28 % 1.43 % Total number of seriously delinquent loans 20,939 23,275 Other credit protection: (3) Serious delinquency rate 0.44 % 0.53 % Total number of seriously delinquent loans 14,834 16,259 Total single-family: Serious delinquency rate 0.97 % 1.08 % Total number of seriously delinquent loans 105,211 116,662 Multifamily: (4) Non-credit-enhanced portfolio: Delinquency rate 0.05 % 0.06 % UPB of delinquent loans $19 $24 Credit-enhanced portfolio: Delinquency rate 0.01 % 0.01 % UPB of delinquent loans $26 $16 Total multifamily: Delinquency rate 0.02 % 0.02 % UPB of delinquent loans $45 $40 (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 Note 6 for additional information on our credit enhancements. (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. Allowance for Credit Losses The allowance for credit losses represents estimates of probable incurred credit losses which we recognize by recording a charge to the provision for credit losses in our condensed consolidated statements of comprehensive income. The allowance for credit losses includes: n Our allowance for loan losses, which pertains to all single-family and multifamily loans classified as held-for-investment on our condensed consolidated balance sheets; and n Our reserve for guarantee losses, which pertains to single-family and multifamily loans underlying our K Certificates, SB Certificates, senior subordinate securitization structures, other securitization products and other mortgage-related guarantees. The table below summarizes changes in our allowance for credit losses. 1Q 2018 1Q 2017 Allowance for Loan Losses Reserve for Total Allowance for Loan Losses Reserve for Total (In millions) Held by Freddie Mac Held By Held by Freddie Mac Held By Single-family: Beginning balance $5,251 $3,680 $48 $8,979 $10,442 $2,969 $54 $13,465 Provision (benefit) for credit losses 98 (21 ) 2 79 (216 ) 106 — (110 ) Charge-offs (355 ) (15 ) (2 ) (372 ) (697 ) (43 ) — (740 ) Recoveries 95 1 — 96 95 2 — 97 Transfers, net (1) 126 (126 ) — — 181 (181 ) — — Other (2) 90 5 — 95 61 1 — 62 Single-family ending balance 5,305 3,524 48 8,877 9,866 2,854 54 12,774 Multifamily ending balance 17 2 7 26 18 1 10 29 Total ending balance $5,322 $3,526 $55 $8,903 $9,884 $2,855 $64 $12,803 (1) Relates to removal of delinquent single-family loans from consolidated trusts and resecuritization after such removal . (2) Primarily includes capitalization of past due interest on modified loans. A significant number of unsecuritized single-family loans on our condensed consolidated balance sheets are individually evaluated for impairment while substantially all single-family loans held by our consolidated trusts are collectively evaluated for impairment. The allowance for loan losses associated with our held-for-investment unsecuritized loans represented approximately 7.8% of the recorded investment in such loans at both March 31, 2018 and December 31, 2017 , 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, 2018 and December 31, 2017 . The table below presents our allowance for loan losses and our recorded investment in loans, held-for-investment, by impairment evaluation methodology. March 31, 2018 December 31, 2017 (In millions) Single-family Multifamily Total Single-family Multifamily Total Recorded investment: Collectively evaluated $1,767,827 $19,948 $1,787,775 $1,764,750 $21,301 $1,786,051 Individually evaluated 61,688 121 61,809 59,237 132 59,369 Total recorded investment 1,829,515 20,069 1,849,584 1,823,987 21,433 1,845,420 Ending balance of the allowance for loan losses: Collectively evaluated (1,861 ) (11 ) (1,872 ) (2,301 ) (28 ) (2,329 ) Individually evaluated (6,968 ) (8 ) (6,976 ) (6,630 ) (7 ) (6,637 ) Total ending balance of the allowance (8,829 ) (19 ) (8,848 ) (8,931 ) (35 ) (8,966 ) Net investment in loans $1,820,686 $20,050 $1,840,736 $1,815,056 $21,398 $1,836,454 Allowance for Loan Losses Determined on an Individual Basis 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, 2018 December 31, 2017 (In millions) UPB Recorded Investment Associated Allowance UPB Recorded Investment Associated Single-family: With no allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $4,324 $3,354 N/A $3,768 $2,908 N/A 15-year amortizing fixed-rate 24 20 N/A 24 21 N/A Adjustable-rate 261 259 N/A 259 256 N/A Alt-A, interest-only, and option ARM 1,636 1,354 N/A 1,558 1,297 N/A Total with no allowance recorded 6,245 4,987 N/A 5,609 4,482 N/A With an allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 49,940 48,721 ($5,832 ) 47,897 46,783 ($5,505 ) 15-year amortizing fixed-rate 944 955 (45 ) 752 757 (24 ) Adjustable-rate 245 241 (14 ) 232 228 (14 ) Alt-A, interest-only, and option ARM 7,255 6,784 (1,077 ) 7,407 6,987 (1,087 ) Total with an allowance recorded 58,384 56,701 (6,968 ) 56,288 54,755 (6,630 ) Combined single-family: 20 and 30-year or more, amortizing fixed-rate 54,264 52,075 (5,832 ) 51,665 49,691 (5,505 ) 15-year amortizing fixed-rate 968 975 (45 ) 776 778 (24 ) Adjustable-rate 506 500 (14 ) 491 484 (14 ) Alt-A, interest-only, and option ARM 8,891 8,138 (1,077 ) 8,965 8,284 (1,087 ) Total single-family 64,629 61,688 (6,968 ) 61,897 59,237 (6,630 ) Multifamily: With no allowance recorded (1) 92 85 N/A 106 97 N/A With an allowance recorded 36 36 (8 ) 35 35 (7 ) Total multifamily 128 121 (8 ) 141 132 (7 ) Total single-family and multifamily $64,757 $61,809 ($6,976 ) $62,038 $59,369 ($6,637 ) Referenced footnotes are included after the next table. 1Q 2018 1Q 2017 (In millions) Average Interest Interest Income Recognized On Cash Basis (3) Average Recorded Investment Interest Income Recognized Interest Income Recognized On Cash Basis (3) Single-family: With no allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $3,311 $94 $7 $4,031 $109 $4 15-year amortizing fixed-rate 20 1 — 26 1 — Adjustable rate 263 3 — 311 3 — Alt-A, interest-only, and option ARM 1,356 23 1 1,655 29 1 Total with no allowance recorded 4,950 121 8 6,023 142 5 With an allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 47,868 592 83 65,091 670 70 15-year amortizing fixed-rate 869 8 3 825 12 2 Adjustable rate 226 2 1 274 3 1 Alt-A, interest-only, and option ARM 6,834 80 9 11,416 107 11 Total with an allowance recorded 55,797 682 96 77,606 792 84 Combined single-family: 20 and 30-year or more, amortizing fixed-rate 51,179 686 90 69,122 779 74 15-year amortizing fixed-rate 889 9 3 851 13 2 Adjustable rate 489 5 1 585 6 1 Alt-A, interest-only, and option ARM 8,190 103 10 13,071 136 12 Total single-family 60,747 803 104 83,629 934 89 Multifamily: With no allowance recorded (1) 84 2 1 271 3 1 With an allowance recorded 36 — — 41 1 — Total multifamily 120 2 1 312 4 1 Total single-family and multifamily $60,867 $805 $105 $83,941 $938 $90 (1) Individually impaired loans with no 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. Troubled Debt Restructurings The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs, based on the original product 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. 1Q 2018 1Q 2017 (Dollars in millions) Number of Post-TDR Number of Post-TDR Single-family: (1) 20 and 30-year or more, amortizing fixed-rate 19,699 $3,305 8,964 $1,283 15-year amortizing fixed-rate 2,816 292 1,192 88 Adjustable-rate 319 57 250 35 Alt-A, interest-only, and option ARM 1,239 203 680 114 Total single-family 24,073 3,857 11,086 1,520 Multifamily (2) — $— — $— (1) The pre-TDR recorded investment for single-family loans initially classified as TDR during 1Q 2018 and 1Q 2017 was $3.9 billion and $1.5 billion , respectively. (2) The post-TDR recorded investment is not meaningful. Of the single-family loans that were newly classified as TDRs during 1Q 2018 and 1Q 2017, respectively: n 19% and 43% involved interest rate reductions and, in certain cases, term extensions; n 29% and 14% involved principal forbearance in addition to interest rate reductions and, in certain cases, term extensions; n The average term extension was 166 months and 172 months; and n The average interest rate reduction was 0.4% and 0.9% . 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. 1Q 2018 1Q 2017 (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 2,956 $443 3,356 $553 15-year amortizing fixed-rate 170 15 168 13 Adjustable-rate 44 7 56 8 Alt-A, interest-only, and option ARM 275 54 305 64 Total single-family 3,445 519 3,885 638 Multifamily — $— — $— In addition, loans may be initially classified as TDRs as a result of other loss mitigation activities (i.e., repayment plans, forbearance agreements, or loans in modification trial periods). During 1Q 2018 and 1Q 2017, 1,710 and 1,590 , respectively, of such loans (with a post-TDR recorded investment of $0.2 billion for both periods) 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 1Q 2018 and 1Q 2017, 159 and 258 , respectively, of such loans (with a post-TDR recorded investment of $18 million and $30 million , respectively) experienced a payment default within a year after the borrowers' Chapter 7 bankruptcy. Non-Cash Investing and Financing Activities During 1Q 2018 and 1Q 2017, we acquired $36.1 billion and $60.6 billion , respectively, of loans held-for-investment in exchange for the issuance of debt securities of consolidated trusts in guarantor swap transactions. We received approximately $4.8 billion and $8.4 billion of loans from sellers during 1Q 2018 and 1Q 2017, respectively, to satisfy advances to lenders that were recorded in other assets on our condensed consolidated balance sheets. These loans were primarily included in the guarantor swap transactions. In addition, we acquire REO properties through foreclosure sales or by deed in lieu of foreclosure. These acquisitions represent non-cash transfers. During 1Q 2018 and 1Q 2017, we had transfers of $0.2 billion and $0.3 billion , respectively, from loans to REO.

Guarantee Activities

Guarantee Activities	3 Months Ended
	Mar. 31, 2018
Guarantees [Abstract]
GUARANTEE ACTIVITIES	Guarantee Activities We generate revenue through our guarantee activities by agreeing to absorb the credit risk associated with certain financial instruments that are owned or held by third parties. In exchange for providing this guarantee, we receive an ongoing guarantee fee that is commensurate with the risks assumed and that will, over the long-term, provide us with cash flows that are expected to exceed the credit-related and administrative expenses of the underlying financial instruments. The profitability of our guarantee activities may vary and will be dependent on our guarantee fee and the actual credit performance of the underlying financial instruments that we have guaranteed. The table below shows our maximum exposure, recognized liability and maximum remaining term of our recognized guarantees to non-consolidated VIEs and other third parties. This table does not include our unrecognized guarantees, such as guarantees to consolidated VIEs or to resecuritization trusts that do not expose us to incremental credit risk. The maximum exposure disclosed in the table is not representative of the actual loss we are likely to incur, based on our historical loss experience and after consideration of proceeds from related collateral liquidation, including possible recoveries under credit enhancement arrangements. See Note 6 for additional information on our credit enhancement arrangements. March 31, 2018 December 31, 2017 ( Dollars in millions , terms in years) Maximum (1) Recognized (2) Maximum Maximum (1) Recognized (2) Maximum Single-family: Securitization activity guarantees $12,208 $139 40 $10,817 $120 40 Other mortgage-related guarantees 6,125 180 30 6,264 190 31 Total single-family $18,333 $319 $17,081 $310 Multifamily: Securitization activity guarantees $197,404 $2,375 40 $188,768 $2,305 40 Other mortgage-related guarantees 10,018 463 36 9,888 466 36 Total multifamily $207,422 $2,838 $198,656 $2,771 Other guarantees measured at fair value $12,837 $150 30 $9,661 $141 28 (1) The maximum exposure represents the contractual amounts that could be lost if counterparties or borrowers defaulted, without consideration of possible recoveries under credit enhancement arrangements, such as recourse provisions, third-party insurance contracts, or from collateral held or pledged. For other guarantees measured at fair value, this amount represents the notional value if it relates to our market value guarantees or guarantees of third party derivative instruments; or the UPB if it relates to a guarantee of a mortgage-related asset. For certain of our other guarantees measured at fair value, our exposure may be unlimited. We generally reduce our exposure to these guarantees with unlimited exposure through separate contracts with third parties. (2) For securitization activity guarantees and other mortgage-related guarantees, this amount represents the guarantee obligation on our condensed consolidated balance sheets. This amount excludes our reserve for guarantee losses, which totaled $55 million and $57 million as of March 31, 2018 and December 31, 2017 , respectively, and is included within other liabilities on our condensed consolidated balance sheets. For other guarantees measured at fair value, this amount represents the fair value of the contract.

Credit Enhancements

Credit Enhancements	3 Months Ended
	Mar. 31, 2018
Credit Enhancements [Abstract]
CREDIT ENHANCEMENTS	Credit Enhancements In connection with many of our mortgage loans, securitization activity guarantees, other mortgage-related guarantees and other credit risk transfer transactions, we obtain various forms of credit enhancements that reduce our exposure to credit losses. These credit enhancements may be attached to the underlying mortgage loans, freestanding or embedded in debt instruments. Attached Credit Enhancements The table below presents the total current and protected UPB and maximum coverage provided by our attached credit enhancements. For information about counterparty credit risk associated with mortgage insurers, see Note 14 . March 31, 2018 December 31, 2017 (In millions) Total Current and Protected UPB (1) Maximum Coverage (2) Total Current and Protected UPB (1) Maximum Coverage (2) Single-family: Primary mortgage insurance $338,457 $86,622 $334,189 $85,429 (1) Underlying loans may be covered by more than one form of credit enhancement, including freestanding credit enhancements and debt with embedded credit enhancements. (2) Represents the remaining amount of loss recovery that is available subject to the terms of counterparty agreements. Freestanding Credit Enhancements The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to our single-family and multifamily freestanding credit enhancements. March 31, 2018 December 31, 2017 (In millions) Total Current and Protected UPB (1) Maximum Coverage (2) Total Current and Protected UPB (1) Maximum Coverage (2) Single-family: Subordination (non-consolidated VIEs) $10,404 $1,904 $8,953 $1,734 ACIS (3) 650,420 7,148 617,730 6,736 Other (4) 15,641 6,362 15,975 6,479 Total single-family 15,414 14,949 Multifamily: Subordination (non-consolidated VIEs) 197,268 32,039 187,299 30,689 Other (5) 1,756 724 1,833 726 Total multifamily 32,763 31,415 Total single-family and multifamily freestanding credit enhancements $48,177 $46,364 (1) Underlying loans may be covered by more than one form of credit enhancement, including attached credit enhancements and debt with embedded credit enhancements. For subordination, total current and protected UPB includes the UPB of the guaranteed securities and the UPB of guarantor advances made to the holders of the guaranteed securities. (2) For subordination, maximum coverage represents the UPB of the securities that are subordinate to our guarantee and held by third parties. For all other freestanding credit enhancements, maximum coverage represents the remaining amount of loss recovery that is available subject to the terms of counterparty agreements. (3) As of March 31, 2018 and December 31, 2017, our counterparties posted collateral on our ACIS transactions of $1.2 billion and $1.1 billion , respectively. (4) Includes seller indemnification, Deep MI CRT, lender recourse and indemnification agreements, pool insurance, HFA indemnification and other credit enhancements. (5) Consists of multifamily HFA indemnification and loss reimbursement agreements with third parties obtained in certain of our Q Certificate transactions. In addition to the credit enhancements disclosed above, the Multifamily segment has other credit enhancements. Recoveries from these other credit enhancements have been minimal as the historical losses on our mortgage loans and amounts paid under our guarantee contracts have not been significant. Therefore, these other credit enhancements have been excluded from the table. Debt with Embedded Credit Enhancements The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to debt with embedded credit enhancements. March 31, 2018 December 31, 2017 (In millions) Total Current and Protected UPB (1) Maximum Coverage (2) Total Current and Protected UPB (1) Maximum Coverage (2) Single-family: STACR debt notes $661,399 $19,183 $604,356 $17,788 Subordination (consolidated VIEs) 6,582 307 3,330 179 Total single-family 19,490 17,967 Multifamily: SCR debt notes 2,704 135 2,732 137 Subordination (consolidated VIEs) 1,800 180 1,800 180 Total multifamily 315 317 Total single-family and multifamily debt with embedded credit enhancements $19,805 $18,284 (1) Underlying loans may be covered by more than one form of credit enhancement, including attached credit enhancements and freestanding credit enhancements. For STACR debt notes and SCR debt notes, total current and protected UPB represents the UPB of the assets included in the reference pool. For subordination, total current and protected UPB represents the UPB of the guaranteed securities. (2) For STACR debt notes and SCR debt notes, maximum coverage amount represents the outstanding balance of the STACR debt notes and SCR debt notes held by third parties. For subordination, maximum coverage amount represents the UPB of the securities that are subordinate to our guarantee and held by third parties.

Investments in Securities

Investments in Securities	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN SECURITIES	Investments in Securities The table below summarizes the fair values of our investments in debt securities by classification. (In millions) March 31, 2018 December 31, 2017 Trading securities $36,206 $40,721 Available-for-sale securities 39,295 43,597 Total $75,501 $84,318 As of March 31, 2018 and December 31, 2017, 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 primarily consist of investments in U.S. Treasury securities. (In millions) March 31, 2018 December 31, 2017 Mortgage-related securities: Freddie Mac $12,617 $12,235 Other agency 3,425 3,574 Non-agency RMBS 732 750 Non-agency CMBS 870 1,343 Total mortgage-related securities 17,644 17,902 Non-mortgage-related securities 18,562 22,819 Total fair value of trading securities $36,206 $40,721 For trading securities held at March 31, 2018 and 2017, we recorded net unrealized gains (losses) of ($212) million and $43 million during 1Q 2018 and 1Q 2017, respectively. The tables below present 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, 2018 Amortized Gross Gross Unrealized Losses Fair (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $33,532 $288 $— ($757 ) $33,063 Other agency 1,790 46 — (6 ) 1,830 Non-agency RMBS 1,894 472 (2 ) (1 ) 2,363 Non-agency CMBS 1,749 — (10 ) (27 ) 1,712 Obligations of states and political subdivisions 324 3 — — 327 Total available-for-sale securities $39,289 $809 ($12 ) ($791 ) $39,295 December 31, 2017 Amortized Gross Gross Unrealized Losses Fair (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $35,433 $499 $— ($462 ) $35,470 Other agency 2,008 56 — (11 ) 2,053 Non-agency RMBS 3,012 927 (5 ) (1 ) 3,933 Non-agency CMBS 1,773 22 (9 ) (2 ) 1,784 Obligations of states and political subdivisions 352 5 — — 357 Total available-for-sale securities $42,578 $1,509 ($14 ) ($476 ) $43,597 (1) Represents the gross unrealized losses for securities for which we have previously recognized other-than-temporary impairment in earnings. (2) Represents the gross unrealized losses for securities for which we have not previously recognized other-than-temporary impairment in earnings. The fair value of our available-for-sale securities held at March 31, 2018 scheduled to contractually mature after ten years was $36.2 billion , with an additional $2.5 billion scheduled to contractually mature after five years through ten years. Available-For-Sale Securities in a Gross Unrealized Loss Position The tables below present 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, 2018 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 $11,877 ($219 ) $9,455 ($538 ) Other agency 35 — 943 (6 ) Non-agency RMBS 4 — 104 (3 ) Non-agency CMBS 1,671 (27 ) 39 (10 ) Obligations of states and political subdivisions 28 — 21 — Total available-for-sale securities in a gross unrealized loss position $13,615 ($246 ) $10,562 ($557 ) December 31, 2017 Less than 12 Months 12 Months or Greater (In millions) Fair Gross Unrealized Losses Fair Gross Unrealized Losses Available-for-sale securities: Freddie Mac $10,337 ($107 ) $9,251 ($355 ) Other agency 40 — 1,079 (11 ) Non-agency RMBS 5 — 105 (6 ) Non-agency CMBS 1,026 (2 ) 52 (9 ) Obligations of states and political subdivisions 12 — 21 — Total available-for-sale securities in a gross unrealized loss position $11,420 ($109 ) $10,508 ($381 ) At March 31, 2018 , the gross unrealized losses relate to 354 separate securities. Impairment Recognition on Investments in Securities We recognized $0 million and $13 million in net impairment of available-for-sale securities in earnings during 1Q 2018 and 1Q 2017, respectively. For our available-for-sale securities in an unrealized loss position at March 31, 2018 , 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. The ending balance of remaining credit losses on available-for-sale securities where a portion of other-than-temporary impairment was recognized in other comprehensive income was $1.0 billion and $1.1 billion as of March 31, 2018 and December 31, 2017, respectively. 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. (In millions) 1Q 2018 1Q 2017 Gross realized gains $446 $218 Gross realized losses (51 ) (28 ) Net realized gains (losses) $395 $190 Non-Cash Investing and Financing Activities During 1Q 2018, we purchased $2.5 billion and sold $2.6 billion of non-mortgage-related securities that were traded, but not settled. We settled our purchase and sale obligations during 2Q 2018.

Debt Securities and Subordinate

Debt Securities and Subordinated Borrowings	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
DEBT SECURITIES AND SUBORDINATED BORROWINGS	Debt Securities and Subordinated Borrowings The table below summarizes the interest expense per our condensed consolidated statements of comprehensive income and the balances of total debt, net per our condensed consolidated balance sheets. Balance, Net Interest Expense (In millions) March 31, 2018 December 31, 2017 1Q 2018 1Q 2017 Debt securities of consolidated trusts held by third parties $1,726,969 $1,720,996 $12,514 $11,721 Other debt: Short-term debt 54,255 73,069 229 96 Long-term debt 223,583 240,565 1,214 1,368 Total other debt 277,838 313,634 1,443 1,464 Total debt, net $2,004,807 $2,034,630 $13,957 $13,185 Our debt cap under the Purchase Agreement is $346.1 billion in 2018 and will decline to $300 billion on January 1, 2019. As of March 31, 2018 , our aggregate indebtedness for purposes of the debt cap was $281.6 billion . Our aggregate indebtedness calculation primarily includes 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, 2018 December 31, 2017 (Dollars in millions) Contractual Maturity UPB Carrying Amount (1) Weighted Average Coupon (2) Contractual Maturity UPB Carrying Amount (1) Weighted Average Coupon (2) Single-family: 30-year or more, fixed-rate 2018 - 2055 $1,294,881 $1,333,449 3.68 % 2018 - 2055 $1,278,911 $1,318,350 3.68 % 20-year fixed-rate 2018 - 2038 72,248 74,308 3.42 2018 - 2038 73,866 76,022 3.43 15-year fixed-rate 2018 - 2033 255,968 261,219 2.86 2018 - 2033 260,633 266,241 2.86 Adjustable-rate 2018 - 2048 45,337 46,313 2.88 2018 - 2048 47,169 48,220 2.85 Interest-only 2026 - 2041 6,711 6,780 3.79 2026 - 2041 7,303 7,379 3.74 FHA/VA 2018 - 2046 815 834 4.83 2018 - 2046 847 866 4.85 Total single-family 1,675,960 1,722,903 1,668,729 1,717,078 Multifamily 2019-2047 4,008 4,066 3.80 2019-2047 3,876 3,918 3.99 Total debt securities of consolidated trusts held by third parties $1,679,968 $1,726,969 $1,672,605 $1,720,996 (1) Includes $638 million and $639 million at March 31, 2018 and December 31, 2017, respectively, of debt of consolidated trusts that represents the fair value of debt securities with the fair value option elected. (2) The effective interest rate for debt securities of consolidated trusts held by third parties was 2.94% and 2.84% as of March 31, 2018 and December 31, 2017, respectively. Other Debt The table below summarizes the balances and effective interest rates for other debt. March 31, 2018 December 31, 2017 (Dollars in millions) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Other short-term debt: Discount notes and Reference Bills ® $26,958 $26,898 1.40 % $45,717 $45,596 1.19 % Medium-term notes 17,612 17,612 1.12 17,792 17,792 1.03 Securities sold under agreements to repurchase 9,745 9,745 1.38 9,681 9,681 1.06 Total other short-term debt 54,315 54,255 1.31 73,190 73,069 1.14 Other long-term debt: Original maturities on or before December 31, 2018 42,157 42,172 1.38 70,557 70,587 1.16 2019 61,168 61,120 1.54 57,689 57,637 1.54 2020 38,232 38,205 1.68 38,117 38,087 1.68 2021 26,040 26,050 1.89 22,809 22,829 1.80 2022 18,715 18,684 2.38 18,538 18,506 2.38 Thereafter 20,986 18,394 4.81 17,281 14,660 5.29 STACR and SCR debt (3) 19,318 19,714 5.24 17,925 18,338 5.06 Hedging-related basis adjustments N/A (756 ) N/A (79 ) Total other long-term debt (4) 226,616 223,583 2.24 242,916 240,565 2.04 Total other debt $280,931 $277,838 $316,106 $313,634 (1) Represents par value, net of associated discounts or premiums and issuance cost. Includes $5.0 billion and $5.2 billion at March 31, 2018 and December 31, 2017, respectively, of other long-term debt that represents the fair value of debt securities with the fair value option elected. (2) Based on carrying amount. (3) Contractual maturities of these debt securities are not presented because they are subject to prepayment risk, as their payments are based upon the performance of a pool of mortgage assets that may be prepaid by the related mortgage borrower at any time generally without penalty. (4) Carrying amount for other long-term debt includes callable debt of $113.5 billion and $113.8 billion at March 31, 2018 and December 31, 2017, respectively.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	Derivatives 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: n Exchange-traded derivatives; n Cleared derivatives; and n 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: n LIBOR-based interest-rate swaps; n LIBOR- and Treasury-based purchased options (including swaptions); and n LIBOR- and Treasury-based exchange-traded futures. We also purchase swaptions on credit indices in order to obtain protection against adverse movements in multifamily spreads which may affect the profitability of our K Certificate or SB Certificate transactions. In addition to swaps, futures and purchased options, our derivative positions include written options and swaptions, commitments and credit derivatives. Hedge Accounting Fair Value Hedges We apply fair value hedge accounting to certain single-family mortgage loans and certain issuances of debt where we hedge the changes in fair value of these items attributable to the designated benchmark interest rate (i.e., LIBOR), using LIBOR-based interest-rate swaps. Beginning on October 1, 2017, due to the adoption of amended hedge accounting guidance, if a hedge relationship qualifies for fair value hedge accounting, all changes in fair value of the derivative hedging instrument, including interest accruals, are recognized in the same condensed consolidated statements of comprehensive income line item used to present the earnings effect of the hedged item. Therefore, changes in the fair value of the hedged item, mortgage loans and debt, attributable to the risk being hedged are recognized in interest income - mortgage loans and interest expense, respectively, along with the changes in the fair value of the respective derivative hedging instruments. Prior to October 1, 2017, if the hedge relationship qualified for hedge accounting, changes in fair value of the derivative hedging instrument and changes in the fair value of the hedged item attributable to the risk being hedged were recognized in other income (loss) and interest accruals on the derivative hedging instrument were included in derivative gains (losses). Cash Flow Hedges 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 are recorded in interest expense. During 1Q 2018 and 1Q 2017, we reclassified from AOCI into earnings, pre-tax losses of $38 million and $43 million , respectively, related to closed cash flow hedges. See Note 11 for information about future reclassifications of deferred net losses related to closed cash flow hedges to net income. Derivative Assets and Liabilities at Fair Value The table below presents the notional value and fair value of derivatives reported on our condensed consolidated balance sheets. March 31, 2018 December 31, 2017 Notional or Contractual Amount Derivatives at Fair Value Notional or Contractual Amount Derivatives at Fair Value (In millions) Assets Liabilities Assets Liabilities Not designated as hedges Interest-rate swaps: Receive-fixed $186,581 $1,517 ($361 ) $213,717 $2,121 ($1,224 ) Pay-fixed 195,839 690 (496 ) 185,400 751 (5,008 ) Basis (floating to floating) 5,763 — — 5,244 — (2 ) Total interest-rate swaps 388,183 2,207 (857 ) 404,361 2,872 (6,234 ) Option-based: Call swaptions Purchased 55,425 2,066 — 58,975 2,709 — Written 4,400 — (86 ) 4,650 — (101 ) Put swaptions Purchased (1) 40,080 1,446 — 47,810 1,058 — Written 3,750 — (14 ) 3,000 — (20 ) Other option-based derivatives (2) 10,625 669 — 10,683 757 — Total option-based 114,280 4,181 (100 ) 125,118 4,524 (121 ) Futures 250,445 — — 267,385 — — Commitments 77,875 105 (183 ) 54,207 44 (64 ) Credit derivatives 4,651 26 (48 ) 3,569 7 (46 ) Other 4,569 1 (48 ) 2,906 1 (19 ) Total derivatives not designated as hedges 840,003 6,520 (1,236 ) 857,546 7,448 (6,484 ) Designated as fair value hedges Interest-rate swaps: Receive-fixed 87,398 — (1,318 ) 83,352 2 (714 ) Pay-fixed 75,441 277 (2,588 ) 69,402 1,388 (291 ) Total derivatives designated as fair value hedges 162,839 277 (3,906 ) 152,754 1,390 (1,005 ) Derivative interest receivable (payable) 836 (941 ) 1,407 (1,596 ) Netting adjustments (3) (7,179 ) 5,738 (9,870 ) 8,816 Total derivative portfolio, net $1,002,842 $454 ($345 ) $1,010,300 $375 ($269 ) (1) Includes swaptions on credit indices with a notional or contractual amount of $4.4 billion and $13.4 billion at March 31, 2018 and December 31, 2017, respectively, and a fair value of $3.5 million and $5.0 million at March 31, 2018 and December 31, 2017 , respectively. (2) Primarily consists of purchased interest-rate caps and floors and options on Treasury futures. (3) Represents counterparty netting and cash collateral netting. See Note 10 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, while not designated in qualifying hedge relationships and reported on our condensed consolidated statements of comprehensive income as derivative gains (losses). In addition, for 1Q 2017, the table includes the accrual of periodic cash settlements on derivatives in qualifying hedge relationships. (In millions) 1Q 2018 1Q 2017 Not designated as hedges Interest-rate swaps: Receive-fixed ($3,097 ) ($569 ) Pay-fixed 4,641 1,242 Basis (floating to floating) (30 ) — Total interest-rate swaps 1,514 673 Option based: Call swaptions Purchased (694 ) (331 ) Written 27 3 Put swaptions Purchased 327 (97 ) Written (27 ) 18 Other option-based derivatives (1) (88 ) (23 ) Total option-based (455 ) (430 ) Other: Futures 387 (115 ) Commitments 518 54 Credit derivatives 14 (16 ) Other (3 ) (1 ) Total other 916 (78 ) Accrual of periodic cash settlements: Receive-fixed interest-rate swaps 222 445 Pay-fixed interest-rate swaps (368 ) (912 ) Other 1 — Total accrual of periodic cash settlements (145 ) (467 ) Total $1,830 ($302 ) (1) Primarily consists of purchased interest-rate caps and floors and options on Treasury futures. Fair Value Hedges The table below presents the effects of fair value hedge accounting by condensed consolidated statements of comprehensive income line, including the gains and losses on derivatives and hedged items designated in qualifying hedge relationships and other components due to the application of hedge accounting. 1Q 2018 (In millions) Interest Income - Mortgage Loans Interest Expense Other Income (Loss) Total amounts of income and expense line items presented in our condensed consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $15,951 ($13,957 ) $121 Interest contracts on mortgage loans held-for-investment: Gain or (loss) on fair value hedging relationships: (1) Hedged items (1,973 ) — — Derivatives designated as hedging instruments 1,687 — — Interest accruals on hedging instruments (167 ) — — Discontinued hedge related basis adjustment amortization 16 — — Interest contracts on debt: Gain or (loss) on fair value hedging relationships: Hedged items — 678 — Derivatives designated as hedging instruments — (591 ) — Interest accruals on hedging instruments — (14 ) — Discontinued hedge related basis adjustment amortization — — — 1Q 2017 (In millions) Interest Income - Mortgage Loans Interest Expense Other Income (Loss) Total amounts of income and expense line items presented in our condensed consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $15,965 ($13,185 ) $415 Interest contracts on mortgage loans held-for-investment: Gain or (loss) on fair value hedging relationships: (1) Hedged items — — (26 ) Derivatives designated as hedging instruments (2) — — 65 Discontinued hedge related basis adjustment amortization — — — (1) In 1Q 2017, gains or losses on derivatives and hedged items were recorded in other income (loss). Beginning in 4Q 2017, gains and losses and interest accruals are recorded in interest income - mortgage loans in our condensed consolidated statements of comprehensive income due to adoption of amended hedge accounting guidance. (2) The gain or (loss) on fair value hedging relationships excludes ($83) million of interest accruals which were recorded in derivatives gains (losses) in our condensed consolidated statements of comprehensive income. Cumulative Basis Adjustments Due to Fair Value Hedging The table below presents the hedged item cumulative basis adjustments due to qualifying fair value hedging and the related hedged item carrying amounts by their respective balance sheet line item . March 31, 2018 Carrying Amount Assets / (Liabilities) Cumulative Amount of Fair Value Hedging Basis Adjustment Included in the Carrying Amount (In millions) Total Discontinued - Hedge Related Mortgage loans held-for-investment $130,875 ($1,731 ) ($1,731 ) Debt (95,975 ) 756 (14 ) December 31, 2017 Carrying Amount Assets / (Liabilities) Cumulative Amount of Fair Value Hedging Basis Adjustment Included in the Carrying Amount (In millions) Total Discontinued - Hedge Related Mortgage loans held-for-investment $128,140 $198 $198 Debt (92,277 ) 79 (14 )

Collateral and Offsetting of As

Collateral and Offsetting of Assets and Liabilities	3 Months Ended
	Mar. 31, 2018
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 counterparty credit risk. 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. Over-the-Counter Derivatives We use master netting and collateral agreements to reduce our credit risk exposure to our OTC derivative counterparties. In the event that all of our counterparties for OTC derivatives were to have defaulted simultaneously on March 31, 2018 , our maximum loss for accounting purposes after applying netting agreements and collateral on an individual counterparty basis would have been approximately $33 million . Regulations adopted by certain financial institution regulators (including FHFA) that became effective March 1, 2017 require posting of variation margin without the application of any thresholds for OTC derivative transactions executed after that date. As a result, our and the counterparties' credit ratings are no longer used in determining the amount of collateral to be posted in connection with these transactions. Cleared and Exchange-Traded Derivatives The majority of our interest-rate swaps are subject to the central clearing requirement of the Dodd-Frank Act. A reduction in our credit ratings could cause the clearinghouses or clearing members we use for our cleared and exchange-traded derivatives to demand additional collateral. Other Derivatives We also execute forward purchase and sale commitments of loans and mortgage-related securities, including dollar roll transactions, that are treated as derivatives for accounting purposes. The total net exposure on our forward purchase and sale commitments, which are treated as derivatives, was $105 million and $44 million at March 31, 2018 and December 31, 2017, respectively. Many of our transactions involving forward purchase and sale commitments of mortgage-related securities 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 counterparty credit risk of the organization (including its clearing members). Securities Purchased Under Agreements to Resell As an investor, we enter into arrangements to purchase securities under agreements to subsequently resell the identical or substantially the same securities to our counterparty. Our counterparties to these transactions are required to pledge the purchased securities as collateral for their obligation to repurchase those securities at a later date. While such transactions involve the legal transfer of securities, they are accounted for as secured financings because the transferor does not relinquish effective control over the securities transferred. Although it is not our practice to repledge collateral that has been pledged to us, these agreements may allow us to repledge all or a portion of the collateral. We consider the types of securities being pledged to us as collateral when determining how much we lend in transactions involving securities purchased under agreements to resell. Additionally, we regularly review the market values of these securities compared to amounts loaned in an effort to manage our exposure to losses. Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are effectively collateralized borrowings where we sell securities with an agreement to repurchase such securities at a future date. We are required to pledge the sold securities to the counterparties to these transactions as collateral for our obligation to repurchase these securities at a later date. Similar to the securities purchased under agreements to resell transactions, these transactions involve the legal transfer of securities. However, they are accounted for as secured financings because they require the identical or substantially the same securities to be subsequently repurchased. These agreements may allow our counterparties to repledge all or a portion of the collateral. Offsetting of Financial Asset and Liabilities At March 31, 2018 and December 31, 2017, 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. The table below displays offsetting and collateral information related to derivatives, securities purchased under agreements to resell and securities sold under agreements to repurchase which are subject to enforceable master netting agreements or similar arrangements. Securities sold under agreements to repurchase are included in debt, net on our condensed consolidated balance sheets. During 1Q 2018, certain rule amendments made by the LCH Group became effective. As a result, the legal characterization of variation margin payments for certain of our cleared swaps changed from posting of margin collateral to settlements. The table below reflects this change as of March 31, 2018. March 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,490 ($5,366 ) ($1,975 ) $149 ($116 ) $33 Cleared and exchange-traded derivatives 11 — 162 173 — 173 Other 132 — — 132 — 132 Total derivatives 7,633 (5,366 ) (1,813 ) 454 (116 ) 338 Securities purchased under agreements to resell (3)(4) 41,828 — — 41,828 (41,828 ) — Total $49,461 ($5,366 ) ($1,813 ) $42,282 ($41,944 ) $338 Liabilities: Derivatives: OTC derivatives ($5,797 ) $5,366 $365 ($66 ) $— ($66 ) Cleared and exchange-traded derivatives (7 ) — 7 — — — Other (279 ) — — (279 ) — (279 ) Total derivatives (6,083 ) 5,366 372 (345 ) — (345 ) Securities sold under agreements to repurchase (4) (9,745 ) — — (9,745 ) 9,745 — Total ($15,828 ) $5,366 $372 ($10,090 ) $9,745 ($345 ) December 31, 2017 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,648 ($5,499 ) ($1,903 ) $246 ($205 ) $41 Cleared and exchange-traded derivatives 2,545 (2,266 ) (202 ) 77 — 77 Other 52 — — 52 — 52 Total derivatives 10,245 (7,765 ) (2,105 ) 375 (205 ) 170 Securities purchased under agreements to resell (3)(4) 55,903 — — 55,903 (55,903 ) — Total $66,148 ($7,765 ) ($2,105 ) $56,278 ($56,108 ) $170 Liabilities: Derivatives: OTC derivatives ($6,285 ) $5,499 $688 ($98 ) $— ($98 ) Cleared and exchange-traded derivatives (2,671 ) 2,266 363 (42 ) — (42 ) Other (129 ) — — (129 ) — (129 ) Total derivatives (9,085 ) 7,765 1,051 (269 ) — (269 ) Securities sold under agreements to repurchase (4) (9,681 ) — — (9,681 ) 9,681 — Total ($18,766 ) $7,765 $1,051 ($9,950 ) $9,681 ($269 ) (1) Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset. (2) Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability, netted by counterparty, presented on the condensed consolidated balance sheets. For cleared and exchange-traded derivatives, does not include non-cash collateral posted by us as initial margin with an aggregate fair value of $3.1 billion as of both March 31, 2018 and December 31, 2017. (3) We primarily execute securities purchased under agreements to resell transactions with central clearing organizations where we have the right to repledge the collateral that has been pledged to us, either with the central clearing organization or with other counterparties. At March 31, 2018, and December 31, 2017, we had $27.0 billion and $34.8 billion , respectively, of securities pledged to us in these transactions. In addition, at March 31, 2018 and December 31, 2017, we had $0.5 billion and $3.4 billion , respectively, of securities pledged to us for transactions involving securities purchased under agreements to resell not executed with central clearing organizations that we had the right to repledge. (4) Does not include the impacts of netting by central clearing organizations. Collateral Pledged Collateral Pledged to Freddie Mac We have cash pledged to us as collateral primarily related to OTC derivative transactions. At March 31, 2018, we had $2.2 billion pledged to us as collateral that was classified as restricted cash included in cash and cash equivalents on our condensed consolidated balance sheets. Collateral Pledged by Freddie Mac The tables below summarize the fair value of the securities pledged as collateral by us for derivatives and collateralized borrowing transactions, including securities that the secured party may repledge. March 31, 2018 (In millions) Derivatives Securities sold under agreements to repurchase Other (2) Total Debt securities of consolidated trusts (1) $395 $— $42 $437 Trading securities 2,766 8,954 165 11,885 Total securities pledged $3,161 $8,954 $207 $12,322 December 31, 2017 (In millions) Derivatives Securities sold under agreements to repurchase Other (2) Total Debt securities of consolidated trusts (1) $375 $— $111 $486 Trading securities 2,766 9,705 362 12,833 Total securities pledged $3,141 $9,705 $473 $13,319 (1) Represents PCs held by us in our Capital Markets segment mortgage investments portfolio which are recorded as a reduction to debt securities of consolidated trusts held by third parties on our condensed consolidated balance sheets. (2) Includes other collateralized borrowings and collateral related to transactions with certain clearinghouses. The table below summarizes the underlying collateral pledged and the remaining contractual maturity of our gross obligations under securities sold under agreements to repurchase. March 31, 2018 (In millions) Overnight and continuous 30 days or less After 30 days through 90 days Greater than 90 days Total U.S. Treasury securities $— $8,954 $— $— $8,954

Stockholders' Equity and Earnin

Stockholders' Equity and Earnings per Share	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	Stockholders’ Equity and Earnings Per Share Accumulated Other Comprehensive Income The tables below present changes in AOCI after the effects of our federal statutory tax rates of 21% and 35% for 1Q 2018 and 1Q 2017, respectively, related to available-for-sale securities, closed cash flow hedges and our defined benefit plans. 1Q 2018 (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 $662 ($356 ) $83 $389 Other comprehensive income before reclassifications (1) (488 ) — (2 ) (490 ) Amounts reclassified from accumulated other comprehensive income (312 ) 30 (4 ) (286 ) Changes in AOCI by component (800 ) 30 (6 ) (776 ) Cumulative effect of change in accounting principle (2) 143 (73 ) 19 89 Ending balance $5 ($399 ) $96 ($298 ) 1Q 2017 (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 $915 ($480 ) $21 $456 Other comprehensive income before reclassifications (1) 112 — (3 ) 109 Amounts reclassified from accumulated other comprehensive income (114 ) 28 — (86 ) Changes in AOCI by component (2 ) 28 (3 ) 23 Ending balance $913 ($452 ) $18 $479 (1) For 1Q 2018 and 1Q 2017, net of tax expense (benefit) of ($0.1) billion and $0.1 billion , respectively, for AOCI related to available-for-sale securities. (2) Includes the effect of adopting the accounting guidance on reclassification of stranded tax effects of the Tax Cuts and Jobs Act. In 1Q 2018, we adopted the accounting guidance related to the reclassification of stranded tax effects resulting from the Tax Cuts and Jobs Act from accumulated other comprehensive income to retained earnings. The reclassification includes stranded tax effects related to unrealized gains and losses on available-for-sale securities, deferred net losses on closed cash flow hedges and our defined benefit plans. Reclassifications from AOCI to Net Income The table below presents reclassifications from AOCI to net income, including the affected line item in our condensed consolidated statements of comprehensive income. (In millions) 1Q 2018 1Q 2017 AOCI related to available-for-sale securities Affected line items in the consolidated statements of comprehensive income: Other gains (losses) on investment securities recognized in earnings $395 $190 Net impairment of available-for-sale securities recognized in earnings — (13 ) Total before tax 395 177 Income tax (expense) or benefit (83 ) (63 ) Net of tax 312 114 AOCI related to cash flow hedge relationships Affected line items in the consolidated statements of comprehensive income: Interest expense (38 ) (43 ) Income tax (expense) or benefit 8 15 Net of tax (30 ) (28 ) AOCI related to defined benefit plans Affected line items in the consolidated statements of comprehensive income: Salaries and employee benefits 5 — Income tax (expense) or benefit (1 ) — Net of tax 4 — Total reclassifications in the period $286 $86 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 $0.4 billion and $0.5 billion at March 31, 2018 and March 31, 2017, 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 $97 million , net of taxes, of the $0.4 billion of cash flow hedge losses in AOCI at March 31, 2018 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 16 years. Senior Preferred Stock As of March 31, 2018, our Net Worth Amount was $2.2 billion , less than the $3.0 billion Capital Reserve Amount; therefore, we will not have a dividend obligation to Treasury in June 2018. In addition, because our net worth was positive at March 31, 2018 , no draw is being requested from Treasury under the Purchase Agreement. See Note 2 for additional information. Because we had a net worth deficit at December 31, 2017, FHFA, as Conservator, submitted a draw request, on our behalf, to Treasury under the Purchase Agreement. We received this funding request during 1Q 2018. The aggregate liquidation preference of the senior preferred stock owned by Treasury was $75.6 billion and $75.3 billion as of March 31, 2018 and December 31, 2017, respectively. Stock Issuances and Repurchases We did not repurchase or issue any of our common shares or non-cumulative preferred stock during 1Q 2018, 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: n Vested options to purchase common stock; and n 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: n Weighted average shares related to stock options if the average market price during the period exceeds the exercise price; and n 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, 2018 and March 31, 2017 were out of the money and excluded from the computation of dilutive potential common shares during both 1Q 2018 and 1Q 2017. Dividends Declared No common dividends were declared during 1Q 2018. During 1Q 2018, we also did no t pay dividends on the senior preferred stock. In addition, we did not declare or pay dividends on any other series of Freddie Mac preferred stock outstanding during 1Q 2018.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	Income Taxes Income Tax Expense For 1Q 2018 and 1Q 2017, we reported income tax expense of $0.7 billion and $1.1 billion , respectively, resulting in effective tax rates of 20.4% and 33.4% , respectively. Our effective tax rates differed from the statutory tax rates of 21% and 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 $8.3 billion and $8.1 billion as of March 31, 2018 and December 31, 2017 , respectively. At March 31, 2018 , 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, 2018 , we determined that it is more likely than not that our net deferred tax assets, except for a portion of the deferred tax asset related to our capital loss carryforward, will be realized. As of March 31, 2018, we have a $33 million valuation allowance recorded against our capital loss carryforward deferred tax asset. Unrecognized Tax Benefits and IRS Examinations We evaluated all income tax positions and determined that there were no uncertain tax positions that required reserves as of March 31, 2018 .

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2018
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 Capital Markets. The chart below provides a summary of our three reportable segments and the All Other category. For more information, see our 2017 Annual Report. Segment/Category Description Activities/Items 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. In most instances, we securitize the loans and guarantee the payment of principal and interest on the mortgage-related securities in exchange for guarantee fees. Segment Earnings for this segment consist primarily of guarantee fee income, less credit-related expenses, credit risk transfer expenses, administrative expenses, allocated funding costs and amounts related to net float income or expenses. • Purchase and guarantee of single-family mortgage loans • Contribution to GAAP net income (loss) • Credit risk transfer transactions • Loss mitigation activities • Managing foreclosure and REO activities • Tax expense/benefit • Allocated debt costs and administrative expenses Segment/Category Description Activities/Items Financial Performance Measurement Basis Multifamily The Multifamily segment reflects results from our purchase, sale, securitization and guarantee of multifamily loans and securities, our investments in those loans and securities and the management of multifamily mortgage credit risk and market spread risk. Our primary business model is to purchase multifamily loans for aggregation and then securitization through issuance of multifamily K Certificates and SB Certificates. We also issue and guarantee other securitization products, issue other credit risk transfer products and provide other mortgage-related guarantees. Segment Earnings for this segment consist primarily of returns on assets related to multifamily investment activities and guarantee fee income, less credit-related expenses, administrative expenses and allocated funding costs. • Multifamily loans held-for-sale and associated securitization activities (i.e., K Certificates and SB Certificates) • Contribution to GAAP comprehensive income (loss) • Investments in CMBS and multifamily loans held-for-investment • Other mortgage-related guarantees • Other securitization products • Other credit risk transfer products • Tax expense/benefit • Allocated debt costs and administrative expenses Capital Markets The Capital Markets segment reflects results from managing the company’s mortgage-related investments portfolio (excluding Multifamily segment investments, single-family seriously delinquent loans and the credit risk of single-family performing and reperforming loans), treasury function, single-family securitization activities and interest-rate risk. Segment Earnings for this segment consist primarily of the returns on these investments, less the related funding, hedging and administrative expenses. • Investments in single-family mortgage-related securities and single-family performing loans and reperforming loans • Contribution to GAAP comprehensive income (loss) • All other traded non-mortgage related instruments and securities • Debt issuances • Interest-rate risk management • Guarantee buy-ups, net of execution gains/losses • Cash and liquidity management • Settlements, including legal settlements, relating to non-agency mortgage-related securities • Tax expense/benefit • Allocated administrative expenses 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. • Tax settlements, as applicable N/A • Legal settlements, as applicable • Tax expense/benefit associated with changes in the deferred tax asset valuation allowance or revaluation associated with a statutory tax rate change • FHFA-mandated termination of our pension plan Segment Earnings We present Segment Earnings by reclassifying certain credit guarantee-related activities and investment-related activities between various line items on our GAAP condensed consolidated statements of comprehensive income and allocating certain revenues and expenses, including funding costs and 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. The table below presents Segment Earnings by segment. (In millions) 1Q 2018 1Q 2017 Segment Earnings (loss), net of taxes: Single-family Guarantee $702 $710 Multifamily 472 449 Capital Markets 1,752 1,052 All Other — — Total Segment Earnings, net of taxes 2,926 2,211 Net income $2,926 $2,211 Comprehensive income (loss) of segments: Single-family Guarantee $698 $708 Multifamily 404 445 Capital Markets 1,048 1,081 All Other — — Comprehensive income of segments 2,150 2,234 Comprehensive income $2,150 $2,234 The tables below present detailed reconciliations between our GAAP financial statements and Segment Earnings for our reportable segments and All Other. 1Q 2018 Single-family Guarantee Multifamily Capital Markets All Other Total Segment Earnings (Loss) Reclassifications Total per Consolidated Statements of Comprehensive Income (In millions) Net interest income $— $271 $817 $— $1,088 $1,930 $3,018 Guarantee fee income (1) 1,513 195 — — 1,708 (1,514 ) 194 Benefit (provision) for credit losses 28 16 — — 44 (107 ) (63 ) Net impairment of available-for-sale securities recognized in earnings — — 111 — 111 (111 ) — Derivative gains (losses) (6 ) 655 1,302 — 1,951 (121 ) 1,830 Gains (losses) on trading securities — (156 ) (471 ) — (627 ) — (627 ) Gains (losses) on loans — (451 ) — — (451 ) 131 (320 ) Other non-interest income (loss) 100 177 530 — 807 (55 ) 752 Administrative expenses (336 ) (100 ) (84 ) — (520 ) — (520 ) REO operations expense (39 ) — 1 — (38 ) 4 (34 ) Other non-interest expense (379 ) (14 ) (6 ) — (399 ) (157 ) (556 ) Income tax expense (179 ) (121 ) (448 ) — (748 ) — (748 ) Net income 702 472 1,752 — 2,926 — 2,926 Changes in unrealized gains (losses) related to available-for-sale securities — (67 ) (733 ) — (800 ) — (800 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 30 — 30 — 30 Changes in defined benefit plans (4 ) (1 ) (1 ) — (6 ) — (6 ) Total other comprehensive income (loss), net of taxes (4 ) (68 ) (704 ) — (776 ) — (776 ) Comprehensive income $698 $404 $1,048 $— $2,150 $— $2,150 Referenced footnote is included after the next table. 1Q 2017 Single-family Guarantee Multifamily Capital Markets All Other Total Segment Earnings (Loss) Reclassifications Total per Consolidated Statements of Comprehensive Income (In millions) Net interest income $— $271 $929 $— $1,200 $2,595 $3,795 Guarantee fee income (1) 1,418 151 — — 1,569 (1,420 ) 149 Benefit (provision) for credit losses 39 6 — — 45 71 116 Net impairment of available-for-sale securities recognized in earnings — (4 ) 73 — 69 (82 ) (13 ) Derivative gains (losses) (15 ) 127 52 — 164 (466 ) (302 ) Gains (losses) on trading securities — 1 (135 ) — (134 ) — (134 ) Gains (losses) on loans — (33 ) — — (33 ) 47 14 Other non-interest income (loss) 334 272 748 — 1,354 (694 ) 660 Administrative expenses (333 ) (95 ) (83 ) — (511 ) — (511 ) REO operations expense (59 ) — — — (59 ) 3 (56 ) Other non-interest expense (318 ) (21 ) (4 ) — (343 ) (54 ) (397 ) Income tax expense (356 ) (226 ) (528 ) — (1,110 ) — (1,110 ) Net income 710 449 1,052 — 2,211 — 2,211 Changes in unrealized gains (losses) related to available-for-sale securities — (4 ) 2 — (2 ) — (2 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 28 — 28 — 28 Changes in defined benefit plans (2 ) — (1 ) — (3 ) — (3 ) Total other comprehensive income (loss), net of taxes (2 ) (4 ) 29 — 23 — 23 Comprehensive income $708 $445 $1,081 $— $2,234 $— $2,234 (1) Guarantee fee income is included in other income (loss) on our GAAP condensed consolidated statements of comprehensive income.

Concentration of Credit and Oth

Concentration of Credit and Other Risks	3 Months Ended
	Mar. 31, 2018
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 loan portfolio and geographic area of the approximately $1.8 trillion UPB of our single-family credit guarantee portfolio at both March 31, 2018 and December 31, 2017. See Note 4 and Note 7 for more information about credit risk associated with loans and mortgage-related securities that we hold or guarantee. March 31, 2018 December 31, 2017 Percent of Credit Losses Percentage of Portfolio Serious Delinquency Rate Percentage of Portfolio Serious Delinquency Rate 1Q 2018 1Q 2017 Core single-family loan portfolio 79 % 0.32 % 78 % 0.35 % 6 % 3 % Legacy and relief refinance single-family loan portfolio 21 2.41 22 2.59 94 97 Total 100 % 0.97 100 % 1.08 100 % 100 % Region (1) West 31 % 0.43 30 % 0.47 17 % 31 % Northeast 24 1.13 25 1.24 41 32 North Central 16 0.73 16 0.81 19 17 Southeast 16 1.79 16 1.95 18 17 Southwest 13 0.83 13 0.98 5 3 Total 100 % 0.97 100 % 1.08 100 % 100 % State (2) New Jersey 3 % 1.56 3 % 1.78 13 % 10 % California 18 0.38 18 0.41 13 23 Florida 6 3.02 6 3.33 10 11 New York 5 1.62 5 1.74 9 6 Illinois 5 1.03 5 1.13 9 9 All other 63 0.81 63 0.91 46 41 Total 100 % 0.97 % 100 % 1.08 % 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 1Q 2018. Credit Performance of Certain Higher Risk Single-Family Loan Categories Participants in the mortgage market have characterized single-family loans based upon their overall credit quality at the time of origination, including as prime or subprime. Mortgage market participants have classified single-family loans as Alt-A if these loans have credit characteristics that range between their prime and subprime categories, if they are underwritten with lower or alternative income or asset documentation requirements compared to a full documentation loan, or both. 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: n Purchased pursuant to a previously issued other mortgage-related guarantee; n Part of our relief refinance initiative; or n 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, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Interest-only 1 % 1 % 4.61 % 4.97 % Alt-A 1 1 5.40 5.62 Original LTV ratio greater than 90% (2) 17 17 1.51 1.70 Lower credit scores at origination (less than 620) 2 2 5.74 6.34 (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 Sellers 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. Single-family Sellers 1Q 2018 1Q 2017 Wells Fargo Bank, N.A. 15 % 18 % Other top 10 sellers 36 38 Top 10 single-family sellers 51 % 56 % Multifamily Sellers 1Q 2018 1Q 2017 CBRE Capital Markets, Inc. 14 % 15 % Walker & Dunlop, LLC 12 8 Berkadia Commercial Mortgage LLC 11 15 Holliday Fenoglio Fowler, L.P. 10 12 Other top 10 sellers 32 32 Top 10 multifamily sellers 79 % 82 % In recent years, there has been a shift in our single-family 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 five non-depository sellers provided approximately 22% and 18% of our single-family purchase volume during 1Q 2018 and 1Q 2017, respectively. Servicers 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 multifamily securitizations where we are not in first loss position, primarily K Certificates and SB Certificates. Single-family Servicers March 31, 2018 (1) December 31, 2017 (1) Wells Fargo Bank, N.A. 18 % 18 % Other top 10 servicers 40 40 Top 10 single-family servicers 58 % 58 % (1) Percentage of servicing volume is based on the total single-family credit guarantee portfolio, excluding loans where we do not exercise control over the associated servicing. Multifamily Servicers March 31, 2018 December 31, 2017 Wells Fargo Bank, N.A. 18 % 16 % Berkadia Commercial Mortgage LLC 10 11 CBRE Capital Markets, Inc. 9 12 Other top 10 servicers 37 36 Top 10 multifamily servicers 74 % 75 % In recent years, there has been a shift in our single-family 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 March 31, 2018 and December 31, 2017 , approximately 16% and 15% , respectively, of our single-family credit guarantee portfolio, excluding loans where we do not exercise control over the associated servicing, was serviced by our top five non-depository servicers. We routinely monitor the performance of our largest non-depository servicers. Mortgage Insurers We have counterparty 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 allowance for credit losses. See Note 4 for additional information. As of March 31, 2018 , mortgage insurers provided coverage with maximum loss limits of $86.7 billion , for $338.5 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. On October 23, 2016, Genworth Financial, Inc. announced that it had entered into an agreement to be acquired by China Oceanwide Holdings Group Co., Ltd. Regulatory approvals of the acquisition are still pending. Genworth Mortgage Insurance Corporation is a subsidiary of Genworth Financial, Inc . Mortgage Insurance Coverage (2) Mortgage Insurer Credit Rating (1) March 31, 2018 December 31, 2017 Arch Mortgage Insurance Company A- 24 % 24 % Radian Guaranty Inc. BBB- 21 21 Mortgage Guaranty Insurance Corporation BBB 19 19 Genworth Mortgage Insurance Corporation BB+ 15 15 Essent Guaranty, Inc. BBB+ 12 12 Total 91 % 91 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Latest rating available as of March 31, 2018. Represents the lower of S&P and Moody’s credit ratings stated in terms of the S&P equivalent. (2) Coverage amounts may include coverage provided by affiliates and subsidiaries of the counterparty. We received proceeds of $0.1 billion during both 1Q 2018 and 1Q 2017 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 $0.1 billion (excluding deferred payment obligations associated with unpaid claim amounts) as of both March 31, 2018 and December 31, 2017 . The balance of these receivables, net of an associated allowance for credit losses, was approximately $0.1 billion at both March 31, 2018 and December 31, 2017 . PMI Mortgage Insurance Co. and Triad Guaranty Insurance Corp. are both under the control of their state regulators and are in run-off. A substantial portion of their claims is recorded by us as deferred payment obligations. As of both March 31, 2018 and December 31, 2017 , we had cumulative unpaid deferred payment obligations of $0.5 billion from these insurers. We recognized an allowance for credit losses 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 Investments Counterparties We are exposed to the non-performance of counterparties relating to cash and other investments (including non-mortgage-related securities and cash equivalents) transactions, including those entered into on behalf of our securitization trusts. Our policies require that the counterparty be evaluated using our internal counterparty rating model prior to our entering into such transactions. We monitor the financial strength of our counterparties to these transactions and may use collateral maintenance requirements to manage our exposure to individual counterparties. The permitted term and dollar limits for each of these transactions are also based on the counterparty's financial strength. Our cash and other investments (including non-mortgage-related securities and cash equivalents) counterparties are primarily major financial institutions, including other GSEs, Treasury, the Federal Reserve Bank of New York, the Government Securities Division of Fixed Income Clearing Corporation (GSD/FICC), highly-rated supranational institutions and government money market funds. As of March 31, 2018 and December 31, 2017, $561 million and $239 million of our securities purchased under agreements to resell were used to provide financing to investors in Freddie Mac securities to increase liquidity and expand the investor base for those securities. These transactions differ from the securities purchased under agreements to resell that we use for liquidity purposes as the counterparties we face may not be major financial institutions and we are exposed to the counterparty risk of these institutions. As of March 31, 2018 and December 31, 2017 , including amounts related to our consolidated VIEs, the balance in our other investments and cash portfolio was $69.9 billion and $89.3 billion , respectively. The balances consist primarily of cash and securities purchased under agreements to resell invested with counterparties, U.S. Treasury securities, cash deposited with the Federal Reserve Bank of New York and cash advanced to lenders. As of March 31, 2018 , all of our securities purchased under agreements to resell were fully collateralized.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	Fair Value Disclosures 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: n Level 1 - inputs to the valuation techniques are based on quoted prices in active markets for identical assets or liabilities. n Level 2 - inputs to the valuation techniques are based on observable inputs other than quoted prices in active markets for identical assets or liabilities. n 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. Assets and Liabilities Measured at Fair Value on a Recurring Basis The tables below present our assets and liabilities measured on our condensed 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, 2018 (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 $— $27,936 $5,127 $— $33,063 Other agency — 1,786 44 — 1,830 Non-agency RMBS — — 2,363 — 2,363 Non-agency CMBS — 69 1,643 — 1,712 Obligations of states and political subdivisions — — 327 — 327 Total available-for-sale securities, at fair value — 29,791 9,504 — 39,295 Trading, at fair value: Mortgage-related securities: Freddie Mac — 11,161 1,456 — 12,617 Other agency — 3,416 9 — 3,425 All other — 19 1,583 — 1,602 Total mortgage-related securities — 14,596 3,048 — 17,644 Non-mortgage-related securities 15,713 2,849 — — 18,562 Total trading securities, at fair value 15,713 17,445 3,048 — 36,206 Total investments in securities 15,713 47,236 12,552 — 75,501 Mortgage loans: Held-for-sale, at fair value — 15,832 — — 15,832 Derivative assets, net: Interest-rate swaps — 2,484 — — 2,484 Option-based derivatives — 4,181 — — 4,181 Other — 105 27 — 132 Subtotal, before netting adjustments — 6,770 27 — 6,797 Netting adjustments (1) — — — (6,343 ) (6,343 ) Total derivative assets, net — 6,770 27 (6,343 ) 454 Other assets: Guarantee asset, at fair value — — 3,285 — 3,285 Non-derivative held-for-sale purchase commitments, at fair value — 129 — — 129 All other, at fair value — — 88 — 88 Total other assets — 129 3,373 — 3,502 Total assets carried at fair value on a recurring basis $15,713 $69,967 $15,952 ($6,343 ) $95,289 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $9 $629 $— $638 Other debt, at fair value — 4,844 135 — 4,979 Derivative liabilities, net: Interest-rate swaps — 4,763 — — 4,763 Option-based derivatives — 100 — — 100 Other 212 67 — 279 Subtotal, before netting adjustments — 5,075 67 — 5,142 Netting adjustments (1) — — — (4,797 ) (4,797 ) Total derivative liabilities, net — 5,075 67 (4,797 ) 345 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 19 — — 19 Total liabilities carried at fair value on a recurring basis $— $9,947 $831 ($4,797 ) $5,981 Referenced footnote is included after the next table. December 31, 2017 (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 $— $30,415 $5,055 $— $35,470 Other agency — 2,007 46 — 2,053 Non-agency RMBS — — 3,933 — 3,933 Non-agency CMBS — 87 1,697 — 1,784 Obligations of states and political subdivisions — — 357 — 357 Total available-for-sale securities, at fair value — 32,509 11,088 — 43,597 Trading, at fair value: Mortgage-related securities: Freddie Mac — 11,393 842 — 12,235 Other agency — 3,565 9 — 3,574 All other — 27 2,066 — 2,093 Total mortgage-related securities — 14,985 2,917 — 17,902 Non-mortgage-related securities 20,159 2,660 — — 22,819 Total trading securities, at fair value 20,159 17,645 2,917 — 40,721 Total investments in securities 20,159 50,154 14,005 — 84,318 Mortgage loans: Held-for-sale, at fair value — 20,054 — — 20,054 Derivative assets, net: Interest-rate swaps — 4,262 — — 4,262 Option-based derivatives — 4,524 — — 4,524 Other — 44 8 — 52 Subtotal, before netting adjustments — 8,830 8 — 8,838 Netting adjustments (1) — — — (8,463 ) (8,463 ) Total derivative assets, net — 8,830 8 (8,463 ) 375 Other assets: Guarantee asset, at fair value — — 3,171 — 3,171 Non-derivative held-for-sale purchase commitments, at fair value — 137 — — 137 All other, at fair value — — 45 — 45 Total other assets — 137 3,216 — 3,353 Total assets carried at fair value on a recurring basis $20,159 $79,175 $17,229 ($8,463 ) $108,100 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $9 $630 $— $639 Other debt, at fair value — 5,023 137 — 5,160 Derivative liabilities, net: Interest-rate swaps — 7,239 — — 7,239 Option-based derivatives — 121 — — 121 Other — 64 65 — 129 Subtotal, before netting adjustments — 7,424 65 — 7,489 Netting adjustments (1) — — — (7,220 ) (7,220 ) Total derivative liabilities, net — 7,424 65 (7,220 ) 269 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 4 — — 4 Total liabilities carried at fair value on a recurring basis $— $12,460 $832 ($7,220 ) $6,072 (1) Represents counterparty netting, cash collateral netting and net derivative interest receivable or payable. The tables below present a reconciliation of all assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3. The tables also present gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized in our condensed 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. 1Q 2018 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $5,055 ($3 ) ($105 ) ($108 ) $433 $— $— ($253 ) $— $— $5,127 ($3 ) Other agency 46 — — — — — — (2 ) — — 44 — Non-agency RMBS 3,933 448 (451 ) (3 ) — — (1,467 ) (100 ) — — 2,363 16 Non-agency CMBS 1,697 (2 ) (47 ) (49 ) — — — (5 ) — — 1,643 (2 ) Obligations of states and political subdivisions 357 — (2 ) (2 ) — — — (28 ) — — 327 — Total available-for-sale mortgage-related securities 11,088 443 (605 ) (162 ) 433 — (1,467 ) (388 ) — — 9,504 11 Trading, at fair value: Mortgage-related securities: Freddie Mac 842 (77 ) — (77 ) 817 — (35 ) (5 ) — (86 ) 1,456 (73 ) Other agency 9 — — — — — — — — — 9 — All other 2,066 (47 ) — (47 ) — — (420 ) (16 ) — — 1,583 (38 ) Total trading mortgage-related securities 2,917 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,048 (111 ) Other assets: Guarantee asset 3,171 16 — 16 — 235 — (137 ) — — 3,285 16 All other, at fair value 45 6 — 6 43 9 (15 ) — — — 88 3 Total other assets $3,216 $22 $— $22 $43 $244 ($15 ) ($137 ) $— $— $3,373 $19 Balance, Realized and unrealized (gains) losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $630 ($1 ) $— ($1 ) $— $— $— $— $— $— $629 ($1 ) Other debt, at fair value 137 — — — — — — (2 ) — — 135 — Net derivatives (2) $57 $9 $— $9 $— ($22 ) $— ($4 ) $— $— $40 $6 Referenced footnotes are included after the next table. 1Q 2017 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $9,847 ($2 ) $21 $19 $647 $— ($699 ) ($316 ) $17 ($3,096 ) $6,419 ($6 ) Other agency 66 — — — — — — (4 ) — — 62 — Non-agency RMBS 11,797 277 (98 ) 179 — — (2,217 ) (489 ) — — 9,270 69 Non-agency CMBS 3,366 1 2 3 — — — (9 ) — — 3,360 1 Obligations of states and political subdivisions 665 — — — — — — (105 ) — — 560 — Total available-for-sale mortgage-related securities 25,741 276 (75 ) 201 647 — (2,916 ) (923 ) 17 (3,096 ) 19,671 64 Trading, at fair value: Mortgage-related securities: Freddie Mac 1,095 (47 ) — (47 ) 103 — (592 ) (9 ) 154 (152 ) 552 (41 ) Other agency 12 (1 ) — (1 ) — — — — — — 11 (1 ) All other 113 — — — — — — (4 ) — — 109 — Total trading mortgage-related securities 1,220 (48 ) — (48 ) 103 — (592 ) (13 ) 154 (152 ) 672 (42 ) Other assets: Guarantee asset 2,299 (7 ) — (7 ) — 164 — (116 ) — — 2,340 (7 ) All other, at fair value — — — — — — — — — — — — Total other assets $2,299 ($7 ) $— ($7 ) $— $164 $— ($116 ) $— $— $2,340 ($7 ) Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in other Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $— $— $— $— $— $530 $— $— $— $— $530 $— Other debt, at fair value 95 — — — — — — (1 ) — — 94 — Net derivatives (2) 50 21 — 21 — 1 — (11 ) — — 61 13 Other Liabilities: All other, at fair value ($2 ) $2 $— $2 $10 $— $— $— $— $— $10 $2 (1) Transfers out of Level 3 during 1Q 2018 and 1Q 2017 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. Certain Freddie Mac securities are classified as Level 3 at issuance and generally are classified as Level 2 when they begin trading. Transfers into Level 3 during 1Q 2018 and 1Q 2017 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 the net of derivative assets and liabilities prior to counterparty netting, cash collateral netting, net trade/settle receivable or payable and net derivative interest receivable or payable. (3) Represents the amount of total gains or losses for the period, included in earnings, attributable to the change in unrealized gains and losses related to assets and liabilities classified as Level 3 that were still held at March 31, 2018 and March 31, 2017, respectively. Included in these amounts are other-than temporary impairments recorded on available-for-sale securities. The tables below provide valuation techniques, the range and the weighted average of significant unobservable inputs for Level 3 assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis. March 31, 2018 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Average Recurring fair value measurements Assets Investments in securities Available-for-sale, at fair value Mortgage-related securities Freddie Mac $4,950 Discounted cash flows OAS 21 - 325 bps 72 bps 177 Other Total Freddie Mac 5,127 Other agency 44 Other Non-agency RMBS 2,148 Median of external sources External pricing sources $71.2 - $77.6 $73.8 215 Other Total non-agency RMBS 2,363 Non-agency CMBS 1,643 Single external source External pricing sources $105.0 - $106.0 $105.6 Obligations of states and political subdivisions 306 Median of external sources External pricing sources $100.6 - $101.2 $100.9 21 Other Total obligations of states and political subdivisions 327 Total available-for-sale mortgage-related securities 9,504 Trading, at fair value Mortgage-related securities Freddie Mac 1,168 Risk metrics Effective duration (12.82) - 65.95 years 6.70 years 288 Other Total Freddie Mac 1,456 Other agency 9 Other All other 1,582 Single external source External pricing sources $6.3 - $110.0 $96.1 1 Other Total all other 1,583 Total trading mortgage-related securities 3,048 Total investments in securities $12,552 Other assets: Guarantee asset, at fair value $3,285 Discounted cash flows OAS 17 - 198 bps 45 bps All other at fair value 88 Other Total other assets 3,373 Liabilities Debt securities of consolidated trusts held by third parties, at fair value 629 Single external source External Pricing Sources $97.8 - $100.5 $100.0 Other debt, at fair value 135 Other Net derivatives 40 Other December 31, 2017 Level 3 Predominant Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Recurring fair value measurements Assets Investments in securities: Available-for-sale, at fair value Mortgage-related securities Freddie Mac $4,873 Discounted cash flows OAS 27 - 501 bps 68 bps 182 Other Total Freddie Mac 5,055 Other agency 46 Other Non-agency RMBS 3,665 Median of external sources External pricing sources $75.6 - $80.8 $77.7 268 Other Total non-agency RMBS 3,933 Non-agency CMBS 1,696 Single external source External pricing sources $108.4 - $108.9 $108.7 1 Other Total non-agency CMBS 1,697 Obligations of states and political subdivisions 334 Median of external sources External pricing sources $101.2 - $101.6 $101.4 23 Other Total obligations of states and political subdivisions 357 Total available-for-sale mortgage-related securities 11,088 Trading, at fair value Mortgage-related securities Freddie Mac 582 Discounted cash flows OAS (8,905) - 27,202 bps (88) bps 243 Risk metrics Effective duration 0.00 - 55.93 years 11.76 years 17 Other Total Freddie Mac 842 Other agency 9 Other All other 2,065 Single external source External pricing sources $6.4 - $113.2 $98.0 1 Other Total all other 2,066 Total trading mortgage-related securities 2,917 Total investments in securities $14,005 Other assets: Guarantee asset, at fair value $3,171 Discounted cash flows OAS 17 - 198 bps 45 bps All other at fair value 45 Other Total other assets 3,216 Liabilities Debt securities of consolidated trusts held by third parties, at fair value 630 Single external source External Pricing Sources $99.2 - $100.2 $100.1 Other debt, at fair value 137 Other Net derivatives 57 Other Assets 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 condensed consolidated balance sheets at fair value on a non-recurring basis. March 31, 2018 December 31, 2017 (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) $— $61 $5,716 $5,777 $— $494 $6,199 $6,693 (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. The tables below provide valuation techniques, the range and the weighted average of significant unobservable inputs for Level 3 assets and liabilities measured on our condensed consolidated balance sheets at fair value on a non-recurring basis. Certain of the fair values in the tables below were not obtained as of the period end, but were obtained during the period. March 31, 2018 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $5,716 Internal model Historical sales proceeds $3,000 - $947,675 $176,122 Internal model Housing sales index 43 - 455 bps 102 bps Median of external sources External pricing sources $36.1 - $94.8 $81.5 December 31, 2017 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $6,199 Internal model Historical sales proceeds $3,000 - $899,000 $176,558 Internal model Housing sales index 43 - 394 bps 102 bps Median of external sources External pricing sources $36.5 - $94.9 $80.9 Fair Value of Financial Instruments The tables below present the carrying value and estimated fair value of our financial instruments. For certain types of financial instruments, such as cash and cash equivalents, securities purchased under agreements to resell, advances to lenders and other secured lending and certain debt, the carrying value on our GAAP balance sheets approximates fair value, as these assets and liabilities are short-term in nature and have limited market value volatility. March 31, 2018 GAAP Measurement Category (1) GAAP Carrying Amount Fair Value (In millions) Level 1 Level 2 Level 3 Netting Adjustments (2) Total Financial Assets Cash and cash equivalents (3) Amortized cost $8,617 $8,617 $— $— $— $8,617 Securities purchased under agreements to resell Amortized cost 41,828 — 41,828 — — 41,828 Investments in securities: Available-for-sale, at fair value FV - OCI 39,295 — 29,791 9,504 — 39,295 Trading, at fair value FV - NI 36,206 15,713 17,445 3,048 — 36,206 Total investments in securities 75,501 15,713 47,236 12,552 — 75,501 Mortgage loans: Loans held by consolidated trusts 1,778,010 — 1,614,741 137,928 — 1,752,669 Loans held by Freddie Mac 90,341 — 29,045 64,246 — 93,291 Total mortgage loans Various (4) 1,868,351 — 1,643,786 202,174 — 1,845,960 Derivative assets, net FV - NI 454 — 6,770 27 (6,343 ) 454 Guarantee asset FV - NI 3,285 — — 3,304 — 3,304 Non-derivative purchase commitments, at fair value FV - NI 129 — 129 48 — 177 Advances to lenders and other secured lending Amortized cost 1,233 — 332 636 — 968 Total financial assets $1,999,398 $24,330 $1,740,081 $218,741 ($6,343 ) $1,976,809 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $1,726,969 $— $1,695,195 $2,668 $— $1,697,863 Other debt 277,838 — 277,455 3,759 — 281,214 Total debt, net Various (5) 2,004,807 — 1,972,650 6,427 — 1,979,077 Derivative liabilities, net FV - NI 345 — 5,075 67 (4,797 ) 345 Guarantee obligation Amortized cost 3,157 — — 3,435 — 3,435 Non-derivative purchase commitments, at fair value FV - NI 19 — 19 15 — 34 Total financial liabilities $2,008,328 $— $1,977,744 $9,944 ($4,797 ) $1,982,891 (1) FV - NI denotes fair value through net income. FV - OCI denotes fair value through other comprehensive income. (2) Represents counterparty netting, cash collateral netting and net derivative interest receivable or payable. (3) The current and prior period presentation has been modified to include restricted cash and cash equivalents due to recently adopted accounting guidance. (4) As of March 31, 2018, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value and FV - NII were $1.8 trillion , $11.8 billion and $15.8 billion , respectively. (5) As of March 31, 2018, the GAAP carrying amounts measured at amortized cost and FV - NII were $2.0 trillion and $5.6 billion , respectively. December 31, 2017 GAAP Measurement Category (1) GAAP Carrying Amount Fair Value (In millions) Level 1 Level 2 Level 3 Netting Adjustments (2) Total Financial Assets Cash and cash equivalents (3) Amortized cost $9,811 $9,811 $— $— $— $9,811 Securities purchased under agreements to resell Amortized cost 55,903 — 55,903 — — 55,903 Investments in securities: Available-for-sale, at fair value FV - OCI 43,597 — 32,509 11,088 — 43,597 Trading, at fair value FV - NI 40,721 20,159 17,645 2,917 — 40,721 Total investments in securities 84,318 20,159 50,154 14,005 — 84,318 Mortgage loans: Loans held by consolidated trusts 1,774,286 — 1,635,137 145,911 — 1,781,048 Loans held by Freddie Mac 96,931 — 32,169 67,932 — 100,101 Total mortgage loans Various (4) 1,871,217 — 1,667,306 213,843 — 1,881,149 Derivative assets, net FV - NI 375 — 8,830 8 (8,463 ) 375 Guarantee asset FV - NI 3,171 — — 3,359 — 3,359 Non-derivative purchase commitments, at fair value FV - NI 137 — 137 55 — 192 Advances to lenders and other secured lending Amortized cost 1,269 — 473 796 — 1,269 Total financial assets $2,026,201 $29,970 $1,782,803 $232,066 ($8,463 ) $2,036,376 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $1,720,996 $— $1,721,091 $2,679 $— $1,723,770 Other debt 313,634 — 313,688 3,892 — 317,580 Total debt, net Various (5) 2,034,630 — 2,034,779 6,571 — 2,041,350 Derivative liabilities, net FV - NI 269 — 7,424 65 (7,220 ) 269 Guarantee obligation Amortized cost 3,081 — — 3,742 — 3,742 Non-derivative purchase commitments, at fair value FV - NI 4 — 4 15 — 19 Total financial liabilities $2,037,984 $— $2,042,207 $10,393 ($7,220 ) $2,045,380 (1) FV - NI denotes fair value through net income. FV - OCI denotes fair value through other comprehensive income. (2) Represents counterparty netting, cash collateral netting and net derivative interest receivable or payable. (3) The current and prior period presentation has been modified to include restricted cash and cash equivalents due to recently adopted accounting guidance. (4) As of December 31, 2017, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value and FV - NII were $1.8 trillion , $14.7 billion and $20.1 billion , respectively. (5) As of December 31, 2017, the GAAP carrying amounts measured at amortized cost and FV - NII were $2.0 trillion and $5.8 billion , respectively. HARP Loans The fair value of mortgage loans includes loans refinanced under HARP of $24.8 billion and $30.2 billion as of March 31, 2018 and December 31, 2017, respectively. The fair value of HARP loans reflects the total compensation that we receive for the delivery of a HARP loan, based on 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 on December 31, 2018, the beneficial pricing afforded to HARP loans may no longer be reflected in the pricing structure of our guarantee fees. If these benefits were not reflected in the pricing for these loans, the fair value of our loans would have decreased by $1.8 billion and $2.1 billion as of March 31, 2018 and December 31, 2017, respectively. Fair Value Option We elected the fair value option for certain multifamily held-for-sale loans, multifamily held-for-sale loan purchase commitments and certain long-term debt. The table below presents the fair value and UPB related to certain loans and long-term debt for which we have elected the fair value option. March 31, 2018 December 31, 2017 (In millions) Multifamily Held-For-Sale Loans Other Debt - Long Term Debt Securities Of Consolidated Trusts Held By Third Parties (1) Multifamily Held-For-Sale Loans Other Debt - Long Term Debt Securities Of Consolidated Trusts Held By Third Parties (1) Fair value $15,832 $4,979 $629 $20,054 $5,160 $630 Unpaid principal balance 15,880 4,494 630 19,762 4,666 630 Difference ($48 ) $485 ($1 ) $292 $494 $— (1) Does not include interest-only securities with fair value of $9 million for both March 31, 2018 and December 31, 2017. Changes in Fair Value Under the Fair Value Option Election The table below presents the changes in fair value included in other income (loss) in our condensed consolidated statements of comprehensive income, related to items for which we have elected the fair value option. 1Q 2018 1Q 2017 (In millions) Gains (Losses) Multifamily held-for-sale loans ($458 ) ($35 ) Multifamily held-for-sale loan purchase commitments 105 224 Other debt - long term 9 (99 ) Debt securities of consolidated trusts held by third parties 2 10 Changes in fair value attributable to instrument-specific credit risk were not material for 1Q 2018 and 1Q 2017 for any assets or liabilities for which we elected the fair value option.

Legal Contingencies

Legal Contingencies	3 Months Ended
	Mar. 31, 2018
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's or servicer’s eligibility to sell loans to, and/or service loans for, us. In these cases, the former seller or 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 sellers and servicers. Our contracts with our sellers and servicers generally provide for indemnification of Freddie Mac against liability arising from sellers' and 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. Putative Securities Class Action Lawsuit: Ohio Public Employees Retirement System vs. Freddie Mac, Syron, Et Al. This putative securities class action lawsuit was filed against Freddie Mac and certain former officers on January 18, 2008 in the U.S. District Court for the Northern District of Ohio purportedly on behalf of a class of purchasers of Freddie Mac stock from August 1, 2006 through November 20, 2007. FHFA later intervened as Conservator, and the plaintiff amended its complaint on several occasions. The plaintiff alleged, among other things, that the defendants violated federal securities laws by making false and misleading statements concerning our business, risk management, and the procedures we put into place to protect the company from problems in the mortgage industry. The plaintiff seeks unspecified damages and interest, and reasonable costs and expenses, including attorney and expert fees. In October 2013, defendants filed motions to dismiss the complaint. In October 2014, the District Court granted defendants’ motions and dismissed the case in its entirety against all defendants, with prejudice. In November 2014, plaintiff filed a notice of appeal in the U.S. Court of Appeals for the Sixth Circuit. On July 20, 2016, the Court of Appeals reversed the District Court's dismissal and remanded the case to the District Court for further proceedings. At present, it is not possible for us to predict the probable outcome of this lawsuit 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 matter due to the following factors, among others: the inherent uncertainty of pre-trial litigation and the fact that the District Court has not yet ruled upon motions for class certification or summary judgment. In particular, absent the certification of a class, the identification of a class period, and the identification of the alleged statement or statements that survive dispositive motions, we cannot reasonably estimate any possible loss or range of possible loss. 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. In August 2015, the District 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 District 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. Subsequently, in a related case, the U.S. Court of Appeals for the Second Circuit reversed the District Court’s dismissal of certain plaintiffs’ antitrust claims and remanded the case to the District Court for consideration of whether, among other things, the plaintiffs are "efficient enforcers" of the antitrust laws. On December 20, 2016, after briefing and argument on the defendants' renewed motions to dismiss on personal jurisdiction and efficient enforcer grounds, the District Court denied defendants' motions in part and granted them in part. The District Court held that Freddie Mac is an efficient enforcer of the antitrust laws, but dismissed on personal jurisdiction grounds Freddie Mac's antitrust claims against all defendants except HSBC USA, N.A. Then, in an order issued February 2, 2017, the District Court effectively dismissed Freddie Mac's remaining antitrust claim against HSBC USA, N.A. At present, Freddie Mac's breach of contract actions against Bank of America, N.A., Barclays Bank, Citibank, N.A., Credit Suisse, Deutsche Bank, Royal Bank of Scotland and UBS AG are its only claims remaining in the District Court. On February 23, 2018, the Second Circuit reversed the District Court’s dismissal of certain plaintiffs’ state law fraud and unjust enrichment claims on statutes of limitations grounds. While Freddie Mac was not a party to the appeal, this decision could have the effect of reinstating Freddie Mac’s fraud claims against the above-named defendants. The Second Circuit also reversed certain aspects of the District Court’s personal jurisdiction rulings and remanded with instructions to allow the named appellant to amend its complaint. In response to a request from Freddie Mac, on April 11, 2018, the District Court issued an order requiring Freddie Mac to submit a formal motion for leave to amend the complaint, along with its proposed amended complaint, by May 15, 2018. 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, Cacciapelle 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. All plaintiffs appealed that decision, and on February 21, 2017, the U.S. Court of Appeals for the District of Columbia Circuit affirmed in part and remanded in part the decision granting the motions to dismiss. The Court of Appeals affirmed dismissal of all claims except certain claims seeking monetary damages for breach of contract and breach of implied duty of good faith and fair dealing. In March 2017, certain institutional and class plaintiffs filed petitions for panel rehearing with respect to certain claims. On July 17, 2017, the Court of Appeals granted the petitions for rehearing and issued a modified decision, which permitted the institutional plaintiffs to pursue the breach of contract and breach of implied duty of good faith and fair dealing claims that had been remanded. The Court of Appeals also removed language related to the standard to be applied to the implied duty claims, leaving that issue for the District Court to determine on remand. On October 16, 2017, certain institutional and class plaintiffs filed petitions for a writ of certiorari in the U.S. Supreme Court challenging whether HERA's prohibition on injunctive relief against FHFA bars judicial review of the net worth sweep dividend provisions of the August 2012 amendment to the Purchase Agreement, as well as whether HERA bars shareholders from pursuing derivative litigation where they allege the conservator faces a conflict of interest. The Supreme Court denied the petitions on February 20, 2018. On November 1, 2017, certain institutional and class plaintiffs and plaintiffs in another case in which Freddie Mac was not originally a defendant, Fairholme Funds, Inc. v. FHFA, Treasury, and Federal National Mortgage Association , filed proposed amended complaints in the District Court. Each of the proposed amended complaints names Freddie Mac as a defendant for breach of contract and breach of the covenant of good faith and fair dealing claims as well as for new claims alleging breach of fiduciary duty and breach of Virginia corporate law. On January 10, 2018, FHFA, Freddie Mac, and Fannie Mae moved to dismiss the amended complaints. 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. On March 8, 2018, the plaintiffs filed an amended complaint under seal. 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. Plaintiffs filed a further amended complaint under seal on March 8, 2018. 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. On November 27, 2017, the Court dismissed the case with prejudice after defendants filed a motion to dismiss. On December 21, 2017, plaintiffs filed a notice of appeal to the U.S. Court of Appeals for the Third Circuit. 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.

Regulatory Capital

Regulatory Capital	3 Months Ended
	Mar. 31, 2018
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 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, 2018 December 31, 2017 GAAP net worth (deficit) $2,150 ($312 ) Core capital (deficit) (1)(2) (70,200 ) (73,037 ) Less: Minimum capital requirement (1) 17,661 18,431 Minimum capital surplus (deficit) (1) ($87,861 ) ($91,468 ) (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. During 2017, we and Fannie Mae worked with FHFA to develop an overall risk measurement framework for evaluating our risk management and business decisions during conservatorship, known as CCF. We use both CCF and our internal capital methodologies, which are aligned, to measure risk for making economically effective decisions. We are required to submit quarterly reports to FHFA related to CCF requirements.

Selected Financial Statement Li

Selected Financial Statement Line Items	3 Months Ended
	Mar. 31, 2018
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) on our condensed consolidated statements of comprehensive income. (In millions) 1Q 2018 1Q 2017 Other income (loss): Gains (losses) on loans ($320 ) $14 Income on guarantee obligation 171 146 Guarantee fee income 194 149 Gains (losses) on held-for-sale loan purchase commitments 105 224 All other (29 ) (118 ) Total other income (loss) $121 $415 The table below presents the significant components of other assets and other liabilities on our condensed consolidated balance sheets. (In millions) March 31, 2018 December 31, 2017 Other assets: Real estate owned, net $837 $892 Accounts and other receivables (1) 6,565 7,397 Guarantee asset 3,285 3,171 Fixed assets 837 798 Advances to lenders 901 796 All other 613 636 Total other assets $13,038 $13,690 Other liabilities: Servicer liabilities $587 $628 Guarantee obligation 3,157 3,081 Accounts payable and accrued expenses 715 754 Payables related to securities 2,503 2,813 Income taxes payable 1,415 656 All other 746 1,036 Total other liabilities $9,123 $8,968 (1) Primarily consists of servicer receivables and other non-interest receivables.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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 as authorized by FHFA through our Board of Directors and management. Certain amounts in prior periods’ condensed consolidated financial statements have been reclassified to conform to the current presentation. In the opinion of management, our unaudited condensed consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary for a fair statement of our results. 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	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 credit losses, valuing financial instruments and other assets and liabilities and assessing impairments on investments. 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 Condensed Consolidated Financial Statements ASU 2014-09 , Revenue from Contracts with Customers (Topic 606) and ASU 2015-14 , Topic 606: Deferral of the Effective Date The amendment requires entities to recognize revenue to depict the transfer of promised goods or services to customers in amounts that reflect the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2015-14 defers the effective date of ASU 2014-09 for all entities by one year. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2016-01 , Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825-10) The amendment addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2016-08 , Topic 606: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) The amendments in this Update do not change the core principle of the guidance in Topic 606. The amendments clarify the implementation guidance on principal versus agent considerations. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2016-10 , Topic 606: Identifying Performance Obligations and Licensing The amendments in this Update do not change the core principle of the guidance in Topic 606, but they clarify two issues: i) identifying performance obligations; and ii) licensing. These clarifications are intended to reduce diversity in practice and to reduce the cost and complexity of Topic 606 at transition and on an ongoing basis. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2016-12 , Topic 606: Narrow-Scope Improvements and Practical Expedients The amendments in this Update do not change the core principle of the guidance in Topic 606, but affect aspects of the guidance and technical corrections. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Condensed Consolidated Financial Statements ASU 2016-15 , Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) The main objective of this Update is to address the diversity in practice that currently exists in regards to how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and other Topics. This Update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. January 1, 2018 Upon adoption, the portion of the cash payment attributable to the accreted interest related to zero-coupon debt is presented in the operating activities section, a classification change from the financing activities section where this item was previously presented. As a result, we reclassified approximately $71 million of cash payments from financing activities to operating activities on our condensed consolidated statements of cash flows for 1Q 2017 upon adoption. ASU 2016-18 , Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force) The amendments in this Update address the diversity in the classification and presentation of changes in restricted cash on the statement of cash flows under Topic 230, Statement of Cash Flows. Specifically, this amendment dictates that the statement of cash flows should explain the change in the period of the total of cash, cash equivalents and restricted cash balances. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements; however, we modified the presentation of restricted cash and cash equivalent balances on our condensed consolidated balance sheets. The presentation of our condensed consolidated statements of cash flows has also been revised to reflect the change of total cash and cash equivalents and restricted cash and cash equivalents balances. ASU 2016-20 , Technical Corrections and Improvements to Topic 606 The amendments in this Update are of a similar nature to the items typically addressed in the Technical Corrections and Improvements project. However, the Board decided to issue a separate Update for technical corrections and improvements to Topic 606 and other Topics amended by Update 2014-09 to increase stakeholders’ awareness of the proposals and to expedite improvements to Update 2014-09. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. ASU 2018-02 , Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The amendments in this Update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. January 1, 2018 Upon adoption, we reclassified approximately $89 million from accumulated other comprehensive income to retained earnings on our condensed consolidated financial statements. ASU 2018-03 , Technical Corrections and Improvements to Financial Instruments—Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities The amendments clarify certain aspects of the guidance issued in Update 2016-01 and address six specific issues. January 1, 2018 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Condensed Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on 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. ASU 2016-13 , Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The amendments in this Update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects lifetime expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. January 1, 2020 While we are evaluating the effect that the adoption of this amendment will have on our consolidated financial statements, it will increase (perhaps substantially) our provision for credit losses in the period of adoption.
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: n Vested options to purchase common stock; and n 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: n Weighted average shares related to stock options if the average market price during the period exceeds the exercise price; and n 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.
Derivatives, Methods of Accounting, Hedging Derivatives	Fair Value Hedges We apply fair value hedge accounting to certain single-family mortgage loans and certain issuances of debt where we hedge the changes in fair value of these items attributable to the designated benchmark interest rate (i.e., LIBOR), using LIBOR-based interest-rate swaps. Beginning on October 1, 2017, due to the adoption of amended hedge accounting guidance, if a hedge relationship qualifies for fair value hedge accounting, all changes in fair value of the derivative hedging instrument, including interest accruals, are recognized in the same condensed consolidated statements of comprehensive income line item used to present the earnings effect of the hedged item. Therefore, changes in the fair value of the hedged item, mortgage loans and debt, attributable to the risk being hedged are recognized in interest income - mortgage loans and interest expense, respectively, along with the changes in the fair value of the respective derivative hedging instruments. Prior to October 1, 2017, if the hedge relationship qualified for hedge accounting, changes in fair value of the derivative hedging instrument and changes in the fair value of the hedged item attributable to the risk being hedged were recognized in other income (loss) and interest accruals on the derivative hedging instrument were included in derivative gains (losses).
Fair Value of Financial Instruments	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: n Level 1 - inputs to the valuation techniques are based on quoted prices in active markets for identical assets or liabilities. n Level 2 - inputs to the valuation techniques are based on observable inputs other than quoted prices in active markets for identical assets or liabilities. n 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.

Securitization Activities and25

Securitization Activities and Consolidation (Tables)	3 Months Ended
	Mar. 31, 2018
Securitization Activities and Consolidation [Abstract]
Table - Schedule of Various Interest Entities	The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on our condensed consolidated balance sheets. (In millions) March 31, 2018 December 31, 2017 Consolidated Balance Sheet Line Item Assets: Restricted cash and cash equivalents $1,165 $518 Securities purchased under agreements to resell 14,275 16,750 Mortgage loans held-for-investment 1,778,010 1,774,286 Accrued interest receivable 5,775 5,747 Other assets 2,273 2,738 Total assets of consolidated VIEs $1,801,498 $1,800,039 Liabilities: Accrued interest payable $5,045 $5,028 Debt, net 1,726,969 1,720,996 Other liabilities — 2 Total liabilities of consolidated VIEs $1,732,014 $1,726,026 The following table presents the carrying amounts and classification of the assets and liabilities recorded on our condensed consolidated balance sheets related to our variable interests in non-consolidated 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. We do not believe the maximum exposure to loss disclosed in the table below is representative of the actual loss we are likely to incur, based on our historical loss experience and after consideration of proceeds from related collateral liquidation, including possible recoveries under credit enhancement arrangements. See Note 6 for additional information on credit enhancement arrangements. (In millions) March 31, 2018 December 31, 2017 Assets and Liabilities Recorded on our Condensed Consolidated Balance Sheets (1) Assets: Investments in securities $48,925 $51,494 Accrued interest receivable 235 233 Derivative assets, net 26 7 Other assets 2,706 2,591 Liabilities: Derivative liabilities, net 29 — Other liabilities 2,581 2,489 Maximum Exposure to Loss (2)(3) 211,465 200,196 Total Assets of Non-Consolidated VIEs (3) 245,591 232,762 (1) Includes our variable interests in REMICs and Stripped Giant PCs, K Certificates, SB Certificates, senior subordinate securitization structures and other securitization products that we do not consolidate. (2) Our maximum exposure to loss includes the guaranteed UPB of assets held by the non-consolidated VIEs, the UPB of unguaranteed securities that we acquired from these securitization transactions and the UPB of guarantor advances made to the holders of the guaranteed securities. (3) Our maximum exposure to loss and total assets of non-consolidated VIEs exclude our investments in and obligations to REMICs and Stripped Giant PCs, because we already consolidate the underlying collateral of these trusts on our condensed consolidated balance sheets. In addition, our maximum exposure to loss excludes other guarantees measured at fair value related to certain of our REMICs where our exposure may be unlimited. We generally reduce our exposure to these guarantees with unlimited exposure through separate contracts with third parties.

Mortgage Loans and Loan Loss 26

Mortgage Loans and Loan Loss Reserves (Tables)	3 Months Ended
	Mar. 31, 2018
Mortgage Loans on Real Estate [Abstract]
Table - Mortgage Loans	The table below provides details of the loans on our condensed consolidated balance sheets. March 31, 2018 December 31, 2017 (In millions) Held by Freddie Mac Held by Total Held by Freddie Mac Held by Total Held-for-sale: Single-family $13,756 $— $13,756 $17,039 $— $17,039 Multifamily 16,383 — 16,383 20,537 — 20,537 Total UPB 30,139 — 30,139 37,576 — 37,576 Cost basis and fair value adjustments, net (2,524 ) — (2,524 ) (2,813 ) — (2,813 ) Total held-for-sale loans, net 27,615 — 27,615 34,763 — 34,763 Held-for-investment: Single-family 54,460 1,749,047 1,803,507 51,893 1,742,736 1,794,629 Multifamily 16,213 3,874 20,087 17,702 3,747 21,449 Total UPB 70,673 1,752,921 1,823,594 69,595 1,746,483 1,816,078 Cost basis adjustments (2,625 ) 28,615 25,990 (2,148 ) 31,490 29,342 Allowance for loan losses (5,322 ) (3,526 ) (8,848 ) (5,279 ) (3,687 ) (8,966 ) Total held-for-investment loans, net 62,726 1,778,010 1,840,736 62,168 1,774,286 1,836,454 Total loans, net $90,341 $1,778,010 $1,868,351 $96,931 $1,774,286 $1,871,217
Table - Recorded Investment of Held-For-Investment 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, 2018 December 31, 2017 Current LTV Ratio Total Current LTV Ratio Total (In millions) ≤ 80 > 80 to 100 > 100 (1) ≤ 80 > 80 to 100 > 100 (1) 20 and 30-year or more, amortizing fixed-rate (2) $1,270,145 $199,335 $11,097 $1,480,577 $1,240,224 $214,177 $13,303 $1,467,704 15-year amortizing fixed-rate (2) 267,453 6,105 296 273,854 270,266 7,351 381 277,998 Adjustable-rate 47,364 2,474 19 49,857 48,596 2,963 28 51,587 Alt-A, interest-only, and option ARM 20,489 3,576 1,162 25,227 21,013 4,256 1,429 26,698 Total single-family loans $1,605,451 $211,490 $12,574 $1,829,515 $1,580,099 $228,747 $15,141 $1,823,987 (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 8.50% and 8.43% as of March 31, 2018 and December 31, 2017 , respectively. (2) As of March 31, 2018 and December 31, 2017 , $20.5 billion and $22.2 billion , respectively, in UPB of modified loans were categorized 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 the adjustment are determined at the time of modification rather than at a subsequent date. The table below 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, 2018 December 31, 2017 Credit risk profile by internally assigned grade: (1) Pass $19,503 $20,963 Special mention 330 301 Substandard 234 169 Doubtful 2 — Total $20,069 $21,433 (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 administrative issues that may affect future repayment prospects but does not have current credit weaknesses; "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 tables below present the recorded investment of our single-family and multifamily loans, held-for-investment, by payment status. March 31, 2018 (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 $1,451,682 $13,478 $4,075 $11,342 $1,480,577 $11,337 15-year amortizing fixed-rate 272,305 855 187 507 273,854 507 Adjustable-rate 49,347 262 65 183 49,857 183 Alt-A, interest-only, and option ARM 22,224 1,046 436 1,521 25,227 1,520 Total single-family 1,795,558 15,641 4,763 13,553 1,829,515 13,547 Total multifamily 20,033 18 — 18 20,069 65 Total single-family and multifamily $1,815,591 $15,659 $4,763 $13,571 $1,849,584 $13,612 December 31, 2017 (In millions) Current One Two Three Months or (1) Total Non-accrual Single-family: 20 and 30-year or more, amortizing fixed-rate $1,431,342 $18,297 $5,660 $12,405 $1,467,704 $12,401 15-year amortizing fixed-rate 275,864 1,288 290 556 277,998 556 Adjustable-rate 50,915 383 84 205 51,587 205 Alt-A, interest-only, and option ARM 23,235 1,297 509 1,657 26,698 1,656 Total single-family 1,781,356 21,265 6,543 14,823 1,823,987 14,818 Total multifamily 21,414 — — 19 21,433 64 Total single-family and multifamily $1,802,770 $21,265 $6,543 $14,842 $1,845,420 $14,882 (1) Includes $4.2 billion and $4.1 billion of loans that were in the process of foreclosure as of March 31, 2018 and December 31, 2017 , respectively.
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, 2018 December 31, 2017 Single-family: (1) Non-credit-enhanced portfolio Serious delinquency rate 1.07 % 1.16 % Total number of seriously delinquent loans 73,914 81,668 Credit-enhanced portfolio: (2) Primary mortgage insurance: Serious delinquency rate 1.28 % 1.43 % Total number of seriously delinquent loans 20,939 23,275 Other credit protection: (3) Serious delinquency rate 0.44 % 0.53 % Total number of seriously delinquent loans 14,834 16,259 Total single-family: Serious delinquency rate 0.97 % 1.08 % Total number of seriously delinquent loans 105,211 116,662 Multifamily: (4) Non-credit-enhanced portfolio: Delinquency rate 0.05 % 0.06 % UPB of delinquent loans $19 $24 Credit-enhanced portfolio: Delinquency rate 0.01 % 0.01 % UPB of delinquent loans $26 $16 Total multifamily: Delinquency rate 0.02 % 0.02 % UPB of delinquent loans $45 $40 (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 Note 6 for additional information on our credit enhancements. (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 Allowance for Credit Losses	The table below summarizes changes in our allowance for credit losses. 1Q 2018 1Q 2017 Allowance for Loan Losses Reserve for Total Allowance for Loan Losses Reserve for Total (In millions) Held by Freddie Mac Held By Held by Freddie Mac Held By Single-family: Beginning balance $5,251 $3,680 $48 $8,979 $10,442 $2,969 $54 $13,465 Provision (benefit) for credit losses 98 (21 ) 2 79 (216 ) 106 — (110 ) Charge-offs (355 ) (15 ) (2 ) (372 ) (697 ) (43 ) — (740 ) Recoveries 95 1 — 96 95 2 — 97 Transfers, net (1) 126 (126 ) — — 181 (181 ) — — Other (2) 90 5 — 95 61 1 — 62 Single-family ending balance 5,305 3,524 48 8,877 9,866 2,854 54 12,774 Multifamily ending balance 17 2 7 26 18 1 10 29 Total ending balance $5,322 $3,526 $55 $8,903 $9,884 $2,855 $64 $12,803 (1) Relates to removal of delinquent single-family loans from consolidated trusts and resecuritization after such removal . (2) Primarily includes capitalization of past due interest on modified loans.
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, 2018 December 31, 2017 (In millions) Single-family Multifamily Total Single-family Multifamily Total Recorded investment: Collectively evaluated $1,767,827 $19,948 $1,787,775 $1,764,750 $21,301 $1,786,051 Individually evaluated 61,688 121 61,809 59,237 132 59,369 Total recorded investment 1,829,515 20,069 1,849,584 1,823,987 21,433 1,845,420 Ending balance of the allowance for loan losses: Collectively evaluated (1,861 ) (11 ) (1,872 ) (2,301 ) (28 ) (2,329 ) Individually evaluated (6,968 ) (8 ) (6,976 ) (6,630 ) (7 ) (6,637 ) Total ending balance of the allowance (8,829 ) (19 ) (8,848 ) (8,931 ) (35 ) (8,966 ) Net investment in loans $1,820,686 $20,050 $1,840,736 $1,815,056 $21,398 $1,836,454
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, 2018 December 31, 2017 (In millions) UPB Recorded Investment Associated Allowance UPB Recorded Investment Associated Single-family: With no allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $4,324 $3,354 N/A $3,768 $2,908 N/A 15-year amortizing fixed-rate 24 20 N/A 24 21 N/A Adjustable-rate 261 259 N/A 259 256 N/A Alt-A, interest-only, and option ARM 1,636 1,354 N/A 1,558 1,297 N/A Total with no allowance recorded 6,245 4,987 N/A 5,609 4,482 N/A With an allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 49,940 48,721 ($5,832 ) 47,897 46,783 ($5,505 ) 15-year amortizing fixed-rate 944 955 (45 ) 752 757 (24 ) Adjustable-rate 245 241 (14 ) 232 228 (14 ) Alt-A, interest-only, and option ARM 7,255 6,784 (1,077 ) 7,407 6,987 (1,087 ) Total with an allowance recorded 58,384 56,701 (6,968 ) 56,288 54,755 (6,630 ) Combined single-family: 20 and 30-year or more, amortizing fixed-rate 54,264 52,075 (5,832 ) 51,665 49,691 (5,505 ) 15-year amortizing fixed-rate 968 975 (45 ) 776 778 (24 ) Adjustable-rate 506 500 (14 ) 491 484 (14 ) Alt-A, interest-only, and option ARM 8,891 8,138 (1,077 ) 8,965 8,284 (1,087 ) Total single-family 64,629 61,688 (6,968 ) 61,897 59,237 (6,630 ) Multifamily: With no allowance recorded (1) 92 85 N/A 106 97 N/A With an allowance recorded 36 36 (8 ) 35 35 (7 ) Total multifamily 128 121 (8 ) 141 132 (7 ) Total single-family and multifamily $64,757 $61,809 ($6,976 ) $62,038 $59,369 ($6,637 ) Referenced footnotes are included after the next table. 1Q 2018 1Q 2017 (In millions) Average Interest Interest Income Recognized On Cash Basis (3) Average Recorded Investment Interest Income Recognized Interest Income Recognized On Cash Basis (3) Single-family: With no allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $3,311 $94 $7 $4,031 $109 $4 15-year amortizing fixed-rate 20 1 — 26 1 — Adjustable rate 263 3 — 311 3 — Alt-A, interest-only, and option ARM 1,356 23 1 1,655 29 1 Total with no allowance recorded 4,950 121 8 6,023 142 5 With an allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 47,868 592 83 65,091 670 70 15-year amortizing fixed-rate 869 8 3 825 12 2 Adjustable rate 226 2 1 274 3 1 Alt-A, interest-only, and option ARM 6,834 80 9 11,416 107 11 Total with an allowance recorded 55,797 682 96 77,606 792 84 Combined single-family: 20 and 30-year or more, amortizing fixed-rate 51,179 686 90 69,122 779 74 15-year amortizing fixed-rate 889 9 3 851 13 2 Adjustable rate 489 5 1 585 6 1 Alt-A, interest-only, and option ARM 8,190 103 10 13,071 136 12 Total single-family 60,747 803 104 83,629 934 89 Multifamily: With no allowance recorded (1) 84 2 1 271 3 1 With an allowance recorded 36 — — 41 1 — Total multifamily 120 2 1 312 4 1 Total single-family and multifamily $60,867 $805 $105 $83,941 $938 $90 (1) Individually impaired loans with no 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 - TDR Activity, by Segment	The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs, based on the original product 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. 1Q 2018 1Q 2017 (Dollars in millions) Number of Post-TDR Number of Post-TDR Single-family: (1) 20 and 30-year or more, amortizing fixed-rate 19,699 $3,305 8,964 $1,283 15-year amortizing fixed-rate 2,816 292 1,192 88 Adjustable-rate 319 57 250 35 Alt-A, interest-only, and option ARM 1,239 203 680 114 Total single-family 24,073 3,857 11,086 1,520 Multifamily (2) — $— — $— (1) The pre-TDR recorded investment for single-family loans initially classified as TDR during 1Q 2018 and 1Q 2017 was $3.9 billion and $1.5 billion , respectively. (2) The post-TDR recorded investment is not meaningful.
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. 1Q 2018 1Q 2017 (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 2,956 $443 3,356 $553 15-year amortizing fixed-rate 170 15 168 13 Adjustable-rate 44 7 56 8 Alt-A, interest-only, and option ARM 275 54 305 64 Total single-family 3,445 519 3,885 638 Multifamily — $— — $—

Guarantee Activities Guarantee

Guarantee Activities Guarantee Activities (Tables)	3 Months Ended
	Mar. 31, 2018
Guarantees [Abstract]
Table - Financial Guarantees	The table below shows our maximum exposure, recognized liability and maximum remaining term of our recognized guarantees to non-consolidated VIEs and other third parties. This table does not include our unrecognized guarantees, such as guarantees to consolidated VIEs or to resecuritization trusts that do not expose us to incremental credit risk. The maximum exposure disclosed in the table is not representative of the actual loss we are likely to incur, based on our historical loss experience and after consideration of proceeds from related collateral liquidation, including possible recoveries under credit enhancement arrangements. March 31, 2018 December 31, 2017 ( Dollars in millions , terms in years) Maximum (1) Recognized (2) Maximum Maximum (1) Recognized (2) Maximum Single-family: Securitization activity guarantees $12,208 $139 40 $10,817 $120 40 Other mortgage-related guarantees 6,125 180 30 6,264 190 31 Total single-family $18,333 $319 $17,081 $310 Multifamily: Securitization activity guarantees $197,404 $2,375 40 $188,768 $2,305 40 Other mortgage-related guarantees 10,018 463 36 9,888 466 36 Total multifamily $207,422 $2,838 $198,656 $2,771 Other guarantees measured at fair value $12,837 $150 30 $9,661 $141 28 (1) The maximum exposure represents the contractual amounts that could be lost if counterparties or borrowers defaulted, without consideration of possible recoveries under credit enhancement arrangements, such as recourse provisions, third-party insurance contracts, or from collateral held or pledged. For other guarantees measured at fair value, this amount represents the notional value if it relates to our market value guarantees or guarantees of third party derivative instruments; or the UPB if it relates to a guarantee of a mortgage-related asset. For certain of our other guarantees measured at fair value, our exposure may be unlimited. We generally reduce our exposure to these guarantees with unlimited exposure through separate contracts with third parties. (2) For securitization activity guarantees and other mortgage-related guarantees, this amount represents the guarantee obligation on our condensed consolidated balance sheets. This amount excludes our reserve for guarantee losses, which totaled $55 million and $57 million as of March 31, 2018 and December 31, 2017 , respectively, and is included within other liabilities on our condensed consolidated balance sheets. For other guarantees measured at fair value, this amount represents the fair value of the contract.

Credit Enhancements (Tables)

Credit Enhancements (Tables)	3 Months Ended
	Mar. 31, 2018
Credit Enhancements [Abstract]
Table - Attached Credit Enhancements	The table below presents the total current and protected UPB and maximum coverage provided by our attached credit enhancements. For information about counterparty credit risk associated with mortgage insurers, see Note 14 . March 31, 2018 December 31, 2017 (In millions) Total Current and Protected UPB (1) Maximum Coverage (2) Total Current and Protected UPB (1) Maximum Coverage (2) Single-family: Primary mortgage insurance $338,457 $86,622 $334,189 $85,429 (1) Underlying loans may be covered by more than one form of credit enhancement, including freestanding credit enhancements and debt with embedded credit enhancements. (2) Represents the remaining amount of loss recovery that is available subject to the terms of counterparty agreements.
Table - Freestanding Credit Enhancements	The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to our single-family and multifamily freestanding credit enhancements. March 31, 2018 December 31, 2017 (In millions) Total Current and Protected UPB (1) Maximum Coverage (2) Total Current and Protected UPB (1) Maximum Coverage (2) Single-family: Subordination (non-consolidated VIEs) $10,404 $1,904 $8,953 $1,734 ACIS (3) 650,420 7,148 617,730 6,736 Other (4) 15,641 6,362 15,975 6,479 Total single-family 15,414 14,949 Multifamily: Subordination (non-consolidated VIEs) 197,268 32,039 187,299 30,689 Other (5) 1,756 724 1,833 726 Total multifamily 32,763 31,415 Total single-family and multifamily freestanding credit enhancements $48,177 $46,364 (1) Underlying loans may be covered by more than one form of credit enhancement, including attached credit enhancements and debt with embedded credit enhancements. For subordination, total current and protected UPB includes the UPB of the guaranteed securities and the UPB of guarantor advances made to the holders of the guaranteed securities. (2) For subordination, maximum coverage represents the UPB of the securities that are subordinate to our guarantee and held by third parties. For all other freestanding credit enhancements, maximum coverage represents the remaining amount of loss recovery that is available subject to the terms of counterparty agreements. (3) As of March 31, 2018 and December 31, 2017, our counterparties posted collateral on our ACIS transactions of $1.2 billion and $1.1 billion , respectively. (4) Includes seller indemnification, Deep MI CRT, lender recourse and indemnification agreements, pool insurance, HFA indemnification and other credit enhancements. (5) Consists of multifamily HFA indemnification and loss reimbursement agreements with third parties obtained in certain of our Q Certificate transactions.
Table - Debt with Embedded Credit Enhancement	The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to debt with embedded credit enhancements. March 31, 2018 December 31, 2017 (In millions) Total Current and Protected UPB (1) Maximum Coverage (2) Total Current and Protected UPB (1) Maximum Coverage (2) Single-family: STACR debt notes $661,399 $19,183 $604,356 $17,788 Subordination (consolidated VIEs) 6,582 307 3,330 179 Total single-family 19,490 17,967 Multifamily: SCR debt notes 2,704 135 2,732 137 Subordination (consolidated VIEs) 1,800 180 1,800 180 Total multifamily 315 317 Total single-family and multifamily debt with embedded credit enhancements $19,805 $18,284 (1) Underlying loans may be covered by more than one form of credit enhancement, including attached credit enhancements and freestanding credit enhancements. For STACR debt notes and SCR debt notes, total current and protected UPB represents the UPB of the assets included in the reference pool. For subordination, total current and protected UPB represents the UPB of the guaranteed securities. (2) For STACR debt notes and SCR debt notes, maximum coverage amount represents the outstanding balance of the STACR debt notes and SCR debt notes held by third parties. For subordination, maximum coverage amount represents the UPB of the securities that are subordinate to our guarantee and held by third parties.

Investments in Securities (Tabl

Investments in Securities (Tables)	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Table - Investments in Securities	The table below summarizes the fair values of our investments in debt securities by classification. (In millions) March 31, 2018 December 31, 2017 Trading securities $36,206 $40,721 Available-for-sale securities 39,295 43,597 Total $75,501 $84,318
Table - Trading Securities	The table below presents the estimated fair values of our trading securities by major security type. Our non-mortgage-related securities primarily consist of investments in U.S. Treasury securities. (In millions) March 31, 2018 December 31, 2017 Mortgage-related securities: Freddie Mac $12,617 $12,235 Other agency 3,425 3,574 Non-agency RMBS 732 750 Non-agency CMBS 870 1,343 Total mortgage-related securities 17,644 17,902 Non-mortgage-related securities 18,562 22,819 Total fair value of trading securities $36,206 $40,721
Table - Available-For-Sale Securities	The tables below present 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, 2018 Amortized Gross Gross Unrealized Losses Fair (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $33,532 $288 $— ($757 ) $33,063 Other agency 1,790 46 — (6 ) 1,830 Non-agency RMBS 1,894 472 (2 ) (1 ) 2,363 Non-agency CMBS 1,749 — (10 ) (27 ) 1,712 Obligations of states and political subdivisions 324 3 — — 327 Total available-for-sale securities $39,289 $809 ($12 ) ($791 ) $39,295 December 31, 2017 Amortized Gross Gross Unrealized Losses Fair (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $35,433 $499 $— ($462 ) $35,470 Other agency 2,008 56 — (11 ) 2,053 Non-agency RMBS 3,012 927 (5 ) (1 ) 3,933 Non-agency CMBS 1,773 22 (9 ) (2 ) 1,784 Obligations of states and political subdivisions 352 5 — — 357 Total available-for-sale securities $42,578 $1,509 ($14 ) ($476 ) $43,597 (1) Represents the gross unrealized losses for securities for which we have previously recognized other-than-temporary impairment in earnings. (2) Represents the gross unrealized losses for securities for which we have not previously recognized other-than-temporary impairment in earnings.
Table - Available-For-Sale Securities in a Gross Unrealized Loss Position	The tables below present 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, 2018 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 $11,877 ($219 ) $9,455 ($538 ) Other agency 35 — 943 (6 ) Non-agency RMBS 4 — 104 (3 ) Non-agency CMBS 1,671 (27 ) 39 (10 ) Obligations of states and political subdivisions 28 — 21 — Total available-for-sale securities in a gross unrealized loss position $13,615 ($246 ) $10,562 ($557 ) December 31, 2017 Less than 12 Months 12 Months or Greater (In millions) Fair Gross Unrealized Losses Fair Gross Unrealized Losses Available-for-sale securities: Freddie Mac $10,337 ($107 ) $9,251 ($355 ) Other agency 40 — 1,079 (11 ) Non-agency RMBS 5 — 105 (6 ) Non-agency CMBS 1,026 (2 ) 52 (9 ) Obligations of states and political subdivisions 12 — 21 — Total available-for-sale securities in a gross unrealized loss position $11,420 ($109 ) $10,508 ($381 )
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. (In millions) 1Q 2018 1Q 2017 Gross realized gains $446 $218 Gross realized losses (51 ) (28 ) Net realized gains (losses) $395 $190

Debt Securities and Subordina30

Debt Securities and Subordinated Borrowings (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Table - Total Debt, Net	The table below summarizes the interest expense per our condensed consolidated statements of comprehensive income and the balances of total debt, net per our condensed consolidated balance sheets. Balance, Net Interest Expense (In millions) March 31, 2018 December 31, 2017 1Q 2018 1Q 2017 Debt securities of consolidated trusts held by third parties $1,726,969 $1,720,996 $12,514 $11,721 Other debt: Short-term debt 54,255 73,069 229 96 Long-term debt 223,583 240,565 1,214 1,368 Total other debt 277,838 313,634 1,443 1,464 Total debt, net $2,004,807 $2,034,630 $13,957 $13,185
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, 2018 December 31, 2017 (Dollars in millions) Contractual Maturity UPB Carrying Amount (1) Weighted Average Coupon (2) Contractual Maturity UPB Carrying Amount (1) Weighted Average Coupon (2) Single-family: 30-year or more, fixed-rate 2018 - 2055 $1,294,881 $1,333,449 3.68 % 2018 - 2055 $1,278,911 $1,318,350 3.68 % 20-year fixed-rate 2018 - 2038 72,248 74,308 3.42 2018 - 2038 73,866 76,022 3.43 15-year fixed-rate 2018 - 2033 255,968 261,219 2.86 2018 - 2033 260,633 266,241 2.86 Adjustable-rate 2018 - 2048 45,337 46,313 2.88 2018 - 2048 47,169 48,220 2.85 Interest-only 2026 - 2041 6,711 6,780 3.79 2026 - 2041 7,303 7,379 3.74 FHA/VA 2018 - 2046 815 834 4.83 2018 - 2046 847 866 4.85 Total single-family 1,675,960 1,722,903 1,668,729 1,717,078 Multifamily 2019-2047 4,008 4,066 3.80 2019-2047 3,876 3,918 3.99 Total debt securities of consolidated trusts held by third parties $1,679,968 $1,726,969 $1,672,605 $1,720,996 (1) Includes $638 million and $639 million at March 31, 2018 and December 31, 2017, respectively, of debt of consolidated trusts that represents the fair value of debt securities with the fair value option elected. (2) The effective interest rate for debt securities of consolidated trusts held by third parties was 2.94% and 2.84% as of March 31, 2018 and December 31, 2017, respectively.
Table - Other Debt	The table below summarizes the balances and effective interest rates for other debt. March 31, 2018 December 31, 2017 (Dollars in millions) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Other short-term debt: Discount notes and Reference Bills ® $26,958 $26,898 1.40 % $45,717 $45,596 1.19 % Medium-term notes 17,612 17,612 1.12 17,792 17,792 1.03 Securities sold under agreements to repurchase 9,745 9,745 1.38 9,681 9,681 1.06 Total other short-term debt 54,315 54,255 1.31 73,190 73,069 1.14 Other long-term debt: Original maturities on or before December 31, 2018 42,157 42,172 1.38 70,557 70,587 1.16 2019 61,168 61,120 1.54 57,689 57,637 1.54 2020 38,232 38,205 1.68 38,117 38,087 1.68 2021 26,040 26,050 1.89 22,809 22,829 1.80 2022 18,715 18,684 2.38 18,538 18,506 2.38 Thereafter 20,986 18,394 4.81 17,281 14,660 5.29 STACR and SCR debt (3) 19,318 19,714 5.24 17,925 18,338 5.06 Hedging-related basis adjustments N/A (756 ) N/A (79 ) Total other long-term debt (4) 226,616 223,583 2.24 242,916 240,565 2.04 Total other debt $280,931 $277,838 $316,106 $313,634 (1) Represents par value, net of associated discounts or premiums and issuance cost. Includes $5.0 billion and $5.2 billion at March 31, 2018 and December 31, 2017, respectively, of other long-term debt that represents the fair value of debt securities with the fair value option elected. (2) Based on carrying amount. (3) Contractual maturities of these debt securities are not presented because they are subject to prepayment risk, as their payments are based upon the performance of a pool of mortgage assets that may be prepaid by the related mortgage borrower at any time generally without penalty. (4) Carrying amount for other long-term debt includes callable debt of $113.5 billion and $113.8 billion at March 31, 2018 and December 31, 2017, respectively.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2018
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 condensed consolidated balance sheets. March 31, 2018 December 31, 2017 Notional or Contractual Amount Derivatives at Fair Value Notional or Contractual Amount Derivatives at Fair Value (In millions) Assets Liabilities Assets Liabilities Not designated as hedges Interest-rate swaps: Receive-fixed $186,581 $1,517 ($361 ) $213,717 $2,121 ($1,224 ) Pay-fixed 195,839 690 (496 ) 185,400 751 (5,008 ) Basis (floating to floating) 5,763 — — 5,244 — (2 ) Total interest-rate swaps 388,183 2,207 (857 ) 404,361 2,872 (6,234 ) Option-based: Call swaptions Purchased 55,425 2,066 — 58,975 2,709 — Written 4,400 — (86 ) 4,650 — (101 ) Put swaptions Purchased (1) 40,080 1,446 — 47,810 1,058 — Written 3,750 — (14 ) 3,000 — (20 ) Other option-based derivatives (2) 10,625 669 — 10,683 757 — Total option-based 114,280 4,181 (100 ) 125,118 4,524 (121 ) Futures 250,445 — — 267,385 — — Commitments 77,875 105 (183 ) 54,207 44 (64 ) Credit derivatives 4,651 26 (48 ) 3,569 7 (46 ) Other 4,569 1 (48 ) 2,906 1 (19 ) Total derivatives not designated as hedges 840,003 6,520 (1,236 ) 857,546 7,448 (6,484 ) Designated as fair value hedges Interest-rate swaps: Receive-fixed 87,398 — (1,318 ) 83,352 2 (714 ) Pay-fixed 75,441 277 (2,588 ) 69,402 1,388 (291 ) Total derivatives designated as fair value hedges 162,839 277 (3,906 ) 152,754 1,390 (1,005 ) Derivative interest receivable (payable) 836 (941 ) 1,407 (1,596 ) Netting adjustments (3) (7,179 ) 5,738 (9,870 ) 8,816 Total derivative portfolio, net $1,002,842 $454 ($345 ) $1,010,300 $375 ($269 ) (1) Includes swaptions on credit indices with a notional or contractual amount of $4.4 billion and $13.4 billion at March 31, 2018 and December 31, 2017, respectively, and a fair value of $3.5 million and $5.0 million at March 31, 2018 and December 31, 2017 , respectively. (2) Primarily consists of purchased interest-rate caps and floors and options on Treasury futures. (3) Represents counterparty netting and cash collateral netting. See Note 10 for information related to our derivative counterparties and collateral held and posted.
Table - Gains and Losses on Derivatives	The table below presents the gains and losses on derivatives, including the accrual of periodic cash settlements, while not designated in qualifying hedge relationships and reported on our condensed consolidated statements of comprehensive income as derivative gains (losses). In addition, for 1Q 2017, the table includes the accrual of periodic cash settlements on derivatives in qualifying hedge relationships. (In millions) 1Q 2018 1Q 2017 Not designated as hedges Interest-rate swaps: Receive-fixed ($3,097 ) ($569 ) Pay-fixed 4,641 1,242 Basis (floating to floating) (30 ) — Total interest-rate swaps 1,514 673 Option based: Call swaptions Purchased (694 ) (331 ) Written 27 3 Put swaptions Purchased 327 (97 ) Written (27 ) 18 Other option-based derivatives (1) (88 ) (23 ) Total option-based (455 ) (430 ) Other: Futures 387 (115 ) Commitments 518 54 Credit derivatives 14 (16 ) Other (3 ) (1 ) Total other 916 (78 ) Accrual of periodic cash settlements: Receive-fixed interest-rate swaps 222 445 Pay-fixed interest-rate swaps (368 ) (912 ) Other 1 — Total accrual of periodic cash settlements (145 ) (467 ) Total $1,830 ($302 ) (1) Primarily consists of purchased interest-rate caps and floors and options on Treasury futures.
Table - Gains and Losses on Fair Value Hedge	The table below presents the effects of fair value hedge accounting by condensed consolidated statements of comprehensive income line, including the gains and losses on derivatives and hedged items designated in qualifying hedge relationships and other components due to the application of hedge accounting. 1Q 2018 (In millions) Interest Income - Mortgage Loans Interest Expense Other Income (Loss) Total amounts of income and expense line items presented in our condensed consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $15,951 ($13,957 ) $121 Interest contracts on mortgage loans held-for-investment: Gain or (loss) on fair value hedging relationships: (1) Hedged items (1,973 ) — — Derivatives designated as hedging instruments 1,687 — — Interest accruals on hedging instruments (167 ) — — Discontinued hedge related basis adjustment amortization 16 — — Interest contracts on debt: Gain or (loss) on fair value hedging relationships: Hedged items — 678 — Derivatives designated as hedging instruments — (591 ) — Interest accruals on hedging instruments — (14 ) — Discontinued hedge related basis adjustment amortization — — — 1Q 2017 (In millions) Interest Income - Mortgage Loans Interest Expense Other Income (Loss) Total amounts of income and expense line items presented in our condensed consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $15,965 ($13,185 ) $415 Interest contracts on mortgage loans held-for-investment: Gain or (loss) on fair value hedging relationships: (1) Hedged items — — (26 ) Derivatives designated as hedging instruments (2) — — 65 Discontinued hedge related basis adjustment amortization — — — (1) In 1Q 2017, gains or losses on derivatives and hedged items were recorded in other income (loss). Beginning in 4Q 2017, gains and losses and interest accruals are recorded in interest income - mortgage loans in our condensed consolidated statements of comprehensive income due to adoption of amended hedge accounting guidance. (2) The gain or (loss) on fair value hedging relationships excludes ($83) million of interest accruals which were recorded in derivatives gains (losses) in our condensed consolidated statements of comprehensive income.
Cumulative Basis Adjustment on Fair Value Hedge [Table Text Block]	The table below presents the hedged item cumulative basis adjustments due to qualifying fair value hedging and the related hedged item carrying amounts by their respective balance sheet line item . March 31, 2018 Carrying Amount Assets / (Liabilities) Cumulative Amount of Fair Value Hedging Basis Adjustment Included in the Carrying Amount (In millions) Total Discontinued - Hedge Related Mortgage loans held-for-investment $130,875 ($1,731 ) ($1,731 ) Debt (95,975 ) 756 (14 ) December 31, 2017 Carrying Amount Assets / (Liabilities) Cumulative Amount of Fair Value Hedging Basis Adjustment Included in the Carrying Amount (In millions) Total Discontinued - Hedge Related Mortgage loans held-for-investment $128,140 $198 $198 Debt (92,277 ) 79 (14 )

Collateral and Offsetting of 32

Collateral and Offsetting of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Offsetting [Abstract]
Table - Offsetting of Financial Assets and Liabilities	The table below displays offsetting and collateral information related to derivatives, securities purchased under agreements to resell and securities sold under agreements to repurchase which are subject to enforceable master netting agreements or similar arrangements. Securities sold under agreements to repurchase are included in debt, net on our condensed consolidated balance sheets. During 1Q 2018, certain rule amendments made by the LCH Group became effective. As a result, the legal characterization of variation margin payments for certain of our cleared swaps changed from posting of margin collateral to settlements. The table below reflects this change as of March 31, 2018. March 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,490 ($5,366 ) ($1,975 ) $149 ($116 ) $33 Cleared and exchange-traded derivatives 11 — 162 173 — 173 Other 132 — — 132 — 132 Total derivatives 7,633 (5,366 ) (1,813 ) 454 (116 ) 338 Securities purchased under agreements to resell (3)(4) 41,828 — — 41,828 (41,828 ) — Total $49,461 ($5,366 ) ($1,813 ) $42,282 ($41,944 ) $338 Liabilities: Derivatives: OTC derivatives ($5,797 ) $5,366 $365 ($66 ) $— ($66 ) Cleared and exchange-traded derivatives (7 ) — 7 — — — Other (279 ) — — (279 ) — (279 ) Total derivatives (6,083 ) 5,366 372 (345 ) — (345 ) Securities sold under agreements to repurchase (4) (9,745 ) — — (9,745 ) 9,745 — Total ($15,828 ) $5,366 $372 ($10,090 ) $9,745 ($345 ) December 31, 2017 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,648 ($5,499 ) ($1,903 ) $246 ($205 ) $41 Cleared and exchange-traded derivatives 2,545 (2,266 ) (202 ) 77 — 77 Other 52 — — 52 — 52 Total derivatives 10,245 (7,765 ) (2,105 ) 375 (205 ) 170 Securities purchased under agreements to resell (3)(4) 55,903 — — 55,903 (55,903 ) — Total $66,148 ($7,765 ) ($2,105 ) $56,278 ($56,108 ) $170 Liabilities: Derivatives: OTC derivatives ($6,285 ) $5,499 $688 ($98 ) $— ($98 ) Cleared and exchange-traded derivatives (2,671 ) 2,266 363 (42 ) — (42 ) Other (129 ) — — (129 ) — (129 ) Total derivatives (9,085 ) 7,765 1,051 (269 ) — (269 ) Securities sold under agreements to repurchase (4) (9,681 ) — — (9,681 ) 9,681 — Total ($18,766 ) $7,765 $1,051 ($9,950 ) $9,681 ($269 ) (1) Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset. (2) Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability, netted by counterparty, presented on the condensed consolidated balance sheets. For cleared and exchange-traded derivatives, does not include non-cash collateral posted by us as initial margin with an aggregate fair value of $3.1 billion as of both March 31, 2018 and December 31, 2017. (3) We primarily execute securities purchased under agreements to resell transactions with central clearing organizations where we have the right to repledge the collateral that has been pledged to us, either with the central clearing organization or with other counterparties. At March 31, 2018, and December 31, 2017, we had $27.0 billion and $34.8 billion , respectively, of securities pledged to us in these transactions. In addition, at March 31, 2018 and December 31, 2017, we had $0.5 billion and $3.4 billion , respectively, of securities pledged to us for transactions involving securities purchased under agreements to resell not executed with central clearing organizations that we had the right to repledge. (4) Does not include the impacts of netting by central clearing organizations.
Table - Offsetting of Financial Assets and Liabilities	The table below displays offsetting and collateral information related to derivatives, securities purchased under agreements to resell and securities sold under agreements to repurchase which are subject to enforceable master netting agreements or similar arrangements. Securities sold under agreements to repurchase are included in debt, net on our condensed consolidated balance sheets. During 1Q 2018, certain rule amendments made by the LCH Group became effective. As a result, the legal characterization of variation margin payments for certain of our cleared swaps changed from posting of margin collateral to settlements. The table below reflects this change as of March 31, 2018. March 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,490 ($5,366 ) ($1,975 ) $149 ($116 ) $33 Cleared and exchange-traded derivatives 11 — 162 173 — 173 Other 132 — — 132 — 132 Total derivatives 7,633 (5,366 ) (1,813 ) 454 (116 ) 338 Securities purchased under agreements to resell (3)(4) 41,828 — — 41,828 (41,828 ) — Total $49,461 ($5,366 ) ($1,813 ) $42,282 ($41,944 ) $338 Liabilities: Derivatives: OTC derivatives ($5,797 ) $5,366 $365 ($66 ) $— ($66 ) Cleared and exchange-traded derivatives (7 ) — 7 — — — Other (279 ) — — (279 ) — (279 ) Total derivatives (6,083 ) 5,366 372 (345 ) — (345 ) Securities sold under agreements to repurchase (4) (9,745 ) — — (9,745 ) 9,745 — Total ($15,828 ) $5,366 $372 ($10,090 ) $9,745 ($345 ) December 31, 2017 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,648 ($5,499 ) ($1,903 ) $246 ($205 ) $41 Cleared and exchange-traded derivatives 2,545 (2,266 ) (202 ) 77 — 77 Other 52 — — 52 — 52 Total derivatives 10,245 (7,765 ) (2,105 ) 375 (205 ) 170 Securities purchased under agreements to resell (3)(4) 55,903 — — 55,903 (55,903 ) — Total $66,148 ($7,765 ) ($2,105 ) $56,278 ($56,108 ) $170 Liabilities: Derivatives: OTC derivatives ($6,285 ) $5,499 $688 ($98 ) $— ($98 ) Cleared and exchange-traded derivatives (2,671 ) 2,266 363 (42 ) — (42 ) Other (129 ) — — (129 ) — (129 ) Total derivatives (9,085 ) 7,765 1,051 (269 ) — (269 ) Securities sold under agreements to repurchase (4) (9,681 ) — — (9,681 ) 9,681 — Total ($18,766 ) $7,765 $1,051 ($9,950 ) $9,681 ($269 ) (1) Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset. (2) Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability, netted by counterparty, presented on the condensed consolidated balance sheets. For cleared and exchange-traded derivatives, does not include non-cash collateral posted by us as initial margin with an aggregate fair value of $3.1 billion as of both March 31, 2018 and December 31, 2017. (3) We primarily execute securities purchased under agreements to resell transactions with central clearing organizations where we have the right to repledge the collateral that has been pledged to us, either with the central clearing organization or with other counterparties. At March 31, 2018, and December 31, 2017, we had $27.0 billion and $34.8 billion , respectively, of securities pledged to us in these transactions. In addition, at March 31, 2018 and December 31, 2017, we had $0.5 billion and $3.4 billion , respectively, of securities pledged to us for transactions involving securities purchased under agreements to resell not executed with central clearing organizations that we had the right to repledge. (4) Does not include the impacts of netting by central clearing organizations.
Table - Collateral in the Form of Securities Pledged	The tables below summarize the fair value of the securities pledged as collateral by us for derivatives and collateralized borrowing transactions, including securities that the secured party may repledge. March 31, 2018 (In millions) Derivatives Securities sold under agreements to repurchase Other (2) Total Debt securities of consolidated trusts (1) $395 $— $42 $437 Trading securities 2,766 8,954 165 11,885 Total securities pledged $3,161 $8,954 $207 $12,322 December 31, 2017 (In millions) Derivatives Securities sold under agreements to repurchase Other (2) Total Debt securities of consolidated trusts (1) $375 $— $111 $486 Trading securities 2,766 9,705 362 12,833 Total securities pledged $3,141 $9,705 $473 $13,319 (1) Represents PCs held by us in our Capital Markets segment mortgage investments portfolio which are recorded as a reduction to debt securities of consolidated trusts held by third parties on our condensed consolidated balance sheets. (2) Includes other collateralized borrowings and collateral related to transactions with certain clearinghouses.
Table - Contractual maturity of collateral pledged	The table below summarizes the underlying collateral pledged and the remaining contractual maturity of our gross obligations under securities sold under agreements to repurchase. March 31, 2018 (In millions) Overnight and continuous 30 days or less After 30 days through 90 days Greater than 90 days Total U.S. Treasury securities $— $8,954 $— $— $8,954

Stockholders' Equity and Earn33

Stockholders' Equity and Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Table - Changes in AOCI by Component, Net of Tax	The tables below present changes in AOCI after the effects of our federal statutory tax rates of 21% and 35% for 1Q 2018 and 1Q 2017, respectively, related to available-for-sale securities, closed cash flow hedges and our defined benefit plans. 1Q 2018 (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 $662 ($356 ) $83 $389 Other comprehensive income before reclassifications (1) (488 ) — (2 ) (490 ) Amounts reclassified from accumulated other comprehensive income (312 ) 30 (4 ) (286 ) Changes in AOCI by component (800 ) 30 (6 ) (776 ) Cumulative effect of change in accounting principle (2) 143 (73 ) 19 89 Ending balance $5 ($399 ) $96 ($298 ) 1Q 2017 (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 $915 ($480 ) $21 $456 Other comprehensive income before reclassifications (1) 112 — (3 ) 109 Amounts reclassified from accumulated other comprehensive income (114 ) 28 — (86 ) Changes in AOCI by component (2 ) 28 (3 ) 23 Ending balance $913 ($452 ) $18 $479 (1) For 1Q 2018 and 1Q 2017, net of tax expense (benefit) of ($0.1) billion and $0.1 billion , respectively, for AOCI related to available-for-sale securities. (2) Includes the effect of adopting the accounting guidance on reclassification of stranded tax effects of the Tax Cuts and Jobs Act.
Table - Reclassifications from AOCI to Net Income	The table below presents reclassifications from AOCI to net income, including the affected line item in our condensed consolidated statements of comprehensive income. (In millions) 1Q 2018 1Q 2017 AOCI related to available-for-sale securities Affected line items in the consolidated statements of comprehensive income: Other gains (losses) on investment securities recognized in earnings $395 $190 Net impairment of available-for-sale securities recognized in earnings — (13 ) Total before tax 395 177 Income tax (expense) or benefit (83 ) (63 ) Net of tax 312 114 AOCI related to cash flow hedge relationships Affected line items in the consolidated statements of comprehensive income: Interest expense (38 ) (43 ) Income tax (expense) or benefit 8 15 Net of tax (30 ) (28 ) AOCI related to defined benefit plans Affected line items in the consolidated statements of comprehensive income: Salaries and employee benefits 5 — Income tax (expense) or benefit (1 ) — Net of tax 4 — Total reclassifications in the period $286 $86

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Table - Summary of Segment Earnings and Comprehensive Income (Loss)	The table below presents Segment Earnings by segment. (In millions) 1Q 2018 1Q 2017 Segment Earnings (loss), net of taxes: Single-family Guarantee $702 $710 Multifamily 472 449 Capital Markets 1,752 1,052 All Other — — Total Segment Earnings, net of taxes 2,926 2,211 Net income $2,926 $2,211 Comprehensive income (loss) of segments: Single-family Guarantee $698 $708 Multifamily 404 445 Capital Markets 1,048 1,081 All Other — — Comprehensive income of segments 2,150 2,234 Comprehensive income $2,150 $2,234
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. 1Q 2018 Single-family Guarantee Multifamily Capital Markets All Other Total Segment Earnings (Loss) Reclassifications Total per Consolidated Statements of Comprehensive Income (In millions) Net interest income $— $271 $817 $— $1,088 $1,930 $3,018 Guarantee fee income (1) 1,513 195 — — 1,708 (1,514 ) 194 Benefit (provision) for credit losses 28 16 — — 44 (107 ) (63 ) Net impairment of available-for-sale securities recognized in earnings — — 111 — 111 (111 ) — Derivative gains (losses) (6 ) 655 1,302 — 1,951 (121 ) 1,830 Gains (losses) on trading securities — (156 ) (471 ) — (627 ) — (627 ) Gains (losses) on loans — (451 ) — — (451 ) 131 (320 ) Other non-interest income (loss) 100 177 530 — 807 (55 ) 752 Administrative expenses (336 ) (100 ) (84 ) — (520 ) — (520 ) REO operations expense (39 ) — 1 — (38 ) 4 (34 ) Other non-interest expense (379 ) (14 ) (6 ) — (399 ) (157 ) (556 ) Income tax expense (179 ) (121 ) (448 ) — (748 ) — (748 ) Net income 702 472 1,752 — 2,926 — 2,926 Changes in unrealized gains (losses) related to available-for-sale securities — (67 ) (733 ) — (800 ) — (800 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 30 — 30 — 30 Changes in defined benefit plans (4 ) (1 ) (1 ) — (6 ) — (6 ) Total other comprehensive income (loss), net of taxes (4 ) (68 ) (704 ) — (776 ) — (776 ) Comprehensive income $698 $404 $1,048 $— $2,150 $— $2,150 Referenced footnote is included after the next table. 1Q 2017 Single-family Guarantee Multifamily Capital Markets All Other Total Segment Earnings (Loss) Reclassifications Total per Consolidated Statements of Comprehensive Income (In millions) Net interest income $— $271 $929 $— $1,200 $2,595 $3,795 Guarantee fee income (1) 1,418 151 — — 1,569 (1,420 ) 149 Benefit (provision) for credit losses 39 6 — — 45 71 116 Net impairment of available-for-sale securities recognized in earnings — (4 ) 73 — 69 (82 ) (13 ) Derivative gains (losses) (15 ) 127 52 — 164 (466 ) (302 ) Gains (losses) on trading securities — 1 (135 ) — (134 ) — (134 ) Gains (losses) on loans — (33 ) — — (33 ) 47 14 Other non-interest income (loss) 334 272 748 — 1,354 (694 ) 660 Administrative expenses (333 ) (95 ) (83 ) — (511 ) — (511 ) REO operations expense (59 ) — — — (59 ) 3 (56 ) Other non-interest expense (318 ) (21 ) (4 ) — (343 ) (54 ) (397 ) Income tax expense (356 ) (226 ) (528 ) — (1,110 ) — (1,110 ) Net income 710 449 1,052 — 2,211 — 2,211 Changes in unrealized gains (losses) related to available-for-sale securities — (4 ) 2 — (2 ) — (2 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 28 — 28 — 28 Changes in defined benefit plans (2 ) — (1 ) — (3 ) — (3 ) Total other comprehensive income (loss), net of taxes (2 ) (4 ) 29 — 23 — 23 Comprehensive income $708 $445 $1,081 $— $2,234 $— $2,234 (1) Guarantee fee income is included in other income (loss) on our GAAP condensed consolidated statements of comprehensive income.

Concentration of Credit and O35

Concentration of Credit and Other Risks (Tables)	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Table - Concentration of Credit Risk	The table below summarizes the concentration by loan portfolio and geographic area of the approximately $1.8 trillion UPB of our single-family credit guarantee portfolio at both March 31, 2018 and December 31, 2017. See Note 4 and Note 7 for more information about credit risk associated with loans and mortgage-related securities that we hold or guarantee. March 31, 2018 December 31, 2017 Percent of Credit Losses Percentage of Portfolio Serious Delinquency Rate Percentage of Portfolio Serious Delinquency Rate 1Q 2018 1Q 2017 Core single-family loan portfolio 79 % 0.32 % 78 % 0.35 % 6 % 3 % Legacy and relief refinance single-family loan portfolio 21 2.41 22 2.59 94 97 Total 100 % 0.97 100 % 1.08 100 % 100 % Region (1) West 31 % 0.43 30 % 0.47 17 % 31 % Northeast 24 1.13 25 1.24 41 32 North Central 16 0.73 16 0.81 19 17 Southeast 16 1.79 16 1.95 18 17 Southwest 13 0.83 13 0.98 5 3 Total 100 % 0.97 100 % 1.08 100 % 100 % State (2) New Jersey 3 % 1.56 3 % 1.78 13 % 10 % California 18 0.38 18 0.41 13 23 Florida 6 3.02 6 3.33 10 11 New York 5 1.62 5 1.74 9 6 Illinois 5 1.03 5 1.13 9 9 All other 63 0.81 63 0.91 46 41 Total 100 % 0.97 % 100 % 1.08 % 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 1Q 2018. The table below summarizes the concentration of mortgage insurer counterparties who provided 10% or more of our overall mortgage insurance coverage. On October 23, 2016, Genworth Financial, Inc. announced that it had entered into an agreement to be acquired by China Oceanwide Holdings Group Co., Ltd. Regulatory approvals of the acquisition are still pending. Genworth Mortgage Insurance Corporation is a subsidiary of Genworth Financial, Inc . Mortgage Insurance Coverage (2) Mortgage Insurer Credit Rating (1) March 31, 2018 December 31, 2017 Arch Mortgage Insurance Company A- 24 % 24 % Radian Guaranty Inc. BBB- 21 21 Mortgage Guaranty Insurance Corporation BBB 19 19 Genworth Mortgage Insurance Corporation BB+ 15 15 Essent Guaranty, Inc. BBB+ 12 12 Total 91 % 91 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Latest rating available as of March 31, 2018. Represents the lower of S&P and Moody’s credit ratings stated in terms of the S&P equivalent. (2) Coverage amounts may include coverage provided by affiliates and subsidiaries of the counterparty The table below summarizes the concentration of single-family and multifamily sellers who provided 10% or more of our purchase volume. Single-family Sellers 1Q 2018 1Q 2017 Wells Fargo Bank, N.A. 15 % 18 % Other top 10 sellers 36 38 Top 10 single-family sellers 51 % 56 % Multifamily Sellers 1Q 2018 1Q 2017 CBRE Capital Markets, Inc. 14 % 15 % Walker & Dunlop, LLC 12 8 Berkadia Commercial Mortgage LLC 11 15 Holliday Fenoglio Fowler, L.P. 10 12 Other top 10 sellers 32 32 Top 10 multifamily sellers 79 % 82 % 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 multifamily securitizations where we are not in first loss position, primarily K Certificates and SB Certificates. Single-family Servicers March 31, 2018 (1) December 31, 2017 (1) Wells Fargo Bank, N.A. 18 % 18 % Other top 10 servicers 40 40 Top 10 single-family servicers 58 % 58 % (1) Percentage of servicing volume is based on the total single-family credit guarantee portfolio, excluding loans where we do not exercise control over the associated servicing. Multifamily Servicers March 31, 2018 December 31, 2017 Wells Fargo Bank, N.A. 18 % 16 % Berkadia Commercial Mortgage LLC 10 11 CBRE Capital Markets, Inc. 9 12 Other top 10 servicers 37 36 Top 10 multifamily servicers 74 % 75 %
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, 2018 December 31, 2017 March 31, 2018 December 31, 2017 Interest-only 1 % 1 % 4.61 % 4.97 % Alt-A 1 1 5.40 5.62 Original LTV ratio greater than 90% (2) 17 17 1.51 1.70 Lower credit scores at origination (less than 620) 2 2 5.74 6.34 (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, 2018
Fair Value Disclosures [Abstract]
Table - Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis	The tables below present our assets and liabilities measured on our condensed 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, 2018 (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 $— $27,936 $5,127 $— $33,063 Other agency — 1,786 44 — 1,830 Non-agency RMBS — — 2,363 — 2,363 Non-agency CMBS — 69 1,643 — 1,712 Obligations of states and political subdivisions — — 327 — 327 Total available-for-sale securities, at fair value — 29,791 9,504 — 39,295 Trading, at fair value: Mortgage-related securities: Freddie Mac — 11,161 1,456 — 12,617 Other agency — 3,416 9 — 3,425 All other — 19 1,583 — 1,602 Total mortgage-related securities — 14,596 3,048 — 17,644 Non-mortgage-related securities 15,713 2,849 — — 18,562 Total trading securities, at fair value 15,713 17,445 3,048 — 36,206 Total investments in securities 15,713 47,236 12,552 — 75,501 Mortgage loans: Held-for-sale, at fair value — 15,832 — — 15,832 Derivative assets, net: Interest-rate swaps — 2,484 — — 2,484 Option-based derivatives — 4,181 — — 4,181 Other — 105 27 — 132 Subtotal, before netting adjustments — 6,770 27 — 6,797 Netting adjustments (1) — — — (6,343 ) (6,343 ) Total derivative assets, net — 6,770 27 (6,343 ) 454 Other assets: Guarantee asset, at fair value — — 3,285 — 3,285 Non-derivative held-for-sale purchase commitments, at fair value — 129 — — 129 All other, at fair value — — 88 — 88 Total other assets — 129 3,373 — 3,502 Total assets carried at fair value on a recurring basis $15,713 $69,967 $15,952 ($6,343 ) $95,289 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $9 $629 $— $638 Other debt, at fair value — 4,844 135 — 4,979 Derivative liabilities, net: Interest-rate swaps — 4,763 — — 4,763 Option-based derivatives — 100 — — 100 Other 212 67 — 279 Subtotal, before netting adjustments — 5,075 67 — 5,142 Netting adjustments (1) — — — (4,797 ) (4,797 ) Total derivative liabilities, net — 5,075 67 (4,797 ) 345 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 19 — — 19 Total liabilities carried at fair value on a recurring basis $— $9,947 $831 ($4,797 ) $5,981 Referenced footnote is included after the next table. December 31, 2017 (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 $— $30,415 $5,055 $— $35,470 Other agency — 2,007 46 — 2,053 Non-agency RMBS — — 3,933 — 3,933 Non-agency CMBS — 87 1,697 — 1,784 Obligations of states and political subdivisions — — 357 — 357 Total available-for-sale securities, at fair value — 32,509 11,088 — 43,597 Trading, at fair value: Mortgage-related securities: Freddie Mac — 11,393 842 — 12,235 Other agency — 3,565 9 — 3,574 All other — 27 2,066 — 2,093 Total mortgage-related securities — 14,985 2,917 — 17,902 Non-mortgage-related securities 20,159 2,660 — — 22,819 Total trading securities, at fair value 20,159 17,645 2,917 — 40,721 Total investments in securities 20,159 50,154 14,005 — 84,318 Mortgage loans: Held-for-sale, at fair value — 20,054 — — 20,054 Derivative assets, net: Interest-rate swaps — 4,262 — — 4,262 Option-based derivatives — 4,524 — — 4,524 Other — 44 8 — 52 Subtotal, before netting adjustments — 8,830 8 — 8,838 Netting adjustments (1) — — — (8,463 ) (8,463 ) Total derivative assets, net — 8,830 8 (8,463 ) 375 Other assets: Guarantee asset, at fair value — — 3,171 — 3,171 Non-derivative held-for-sale purchase commitments, at fair value — 137 — — 137 All other, at fair value — — 45 — 45 Total other assets — 137 3,216 — 3,353 Total assets carried at fair value on a recurring basis $20,159 $79,175 $17,229 ($8,463 ) $108,100 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $9 $630 $— $639 Other debt, at fair value — 5,023 137 — 5,160 Derivative liabilities, net: Interest-rate swaps — 7,239 — — 7,239 Option-based derivatives — 121 — — 121 Other — 64 65 — 129 Subtotal, before netting adjustments — 7,424 65 — 7,489 Netting adjustments (1) — — — (7,220 ) (7,220 ) Total derivative liabilities, net — 7,424 65 (7,220 ) 269 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 4 — — 4 Total liabilities carried at fair value on a recurring basis $— $12,460 $832 ($7,220 ) $6,072 (1) Represents counterparty netting, cash collateral netting and net derivative interest receivable or payable.
Table - Assets on Our Consolidated Balance Sheets Measured at Fair Value on a Non-Recurring Basis	The table below presents assets measured on our condensed consolidated balance sheets at fair value on a non-recurring basis. March 31, 2018 December 31, 2017 (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) $— $61 $5,716 $5,777 $— $494 $6,199 $6,693 (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.
Table - Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs	The tables below present a reconciliation of all assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3. The tables also present gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized in our condensed 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. 1Q 2018 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $5,055 ($3 ) ($105 ) ($108 ) $433 $— $— ($253 ) $— $— $5,127 ($3 ) Other agency 46 — — — — — — (2 ) — — 44 — Non-agency RMBS 3,933 448 (451 ) (3 ) — — (1,467 ) (100 ) — — 2,363 16 Non-agency CMBS 1,697 (2 ) (47 ) (49 ) — — — (5 ) — — 1,643 (2 ) Obligations of states and political subdivisions 357 — (2 ) (2 ) — — — (28 ) — — 327 — Total available-for-sale mortgage-related securities 11,088 443 (605 ) (162 ) 433 — (1,467 ) (388 ) — — 9,504 11 Trading, at fair value: Mortgage-related securities: Freddie Mac 842 (77 ) — (77 ) 817 — (35 ) (5 ) — (86 ) 1,456 (73 ) Other agency 9 — — — — — — — — — 9 — All other 2,066 (47 ) — (47 ) — — (420 ) (16 ) — — 1,583 (38 ) Total trading mortgage-related securities 2,917 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,048 (111 ) Other assets: Guarantee asset 3,171 16 — 16 — 235 — (137 ) — — 3,285 16 All other, at fair value 45 6 — 6 43 9 (15 ) — — — 88 3 Total other assets $3,216 $22 $— $22 $43 $244 ($15 ) ($137 ) $— $— $3,373 $19 Balance, Realized and unrealized (gains) losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $630 ($1 ) $— ($1 ) $— $— $— $— $— $— $629 ($1 ) Other debt, at fair value 137 — — — — — — (2 ) — — 135 — Net derivatives (2) $57 $9 $— $9 $— ($22 ) $— ($4 ) $— $— $40 $6 Referenced footnotes are included after the next table. 1Q 2017 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $9,847 ($2 ) $21 $19 $647 $— ($699 ) ($316 ) $17 ($3,096 ) $6,419 ($6 ) Other agency 66 — — — — — — (4 ) — — 62 — Non-agency RMBS 11,797 277 (98 ) 179 — — (2,217 ) (489 ) — — 9,270 69 Non-agency CMBS 3,366 1 2 3 — — — (9 ) — — 3,360 1 Obligations of states and political subdivisions 665 — — — — — — (105 ) — — 560 — Total available-for-sale mortgage-related securities 25,741 276 (75 ) 201 647 — (2,916 ) (923 ) 17 (3,096 ) 19,671 64 Trading, at fair value: Mortgage-related securities: Freddie Mac 1,095 (47 ) — (47 ) 103 — (592 ) (9 ) 154 (152 ) 552 (41 ) Other agency 12 (1 ) — (1 ) — — — — — — 11 (1 ) All other 113 — — — — — — (4 ) — — 109 — Total trading mortgage-related securities 1,220 (48 ) — (48 ) 103 — (592 ) (13 ) 154 (152 ) 672 (42 ) Other assets: Guarantee asset 2,299 (7 ) — (7 ) — 164 — (116 ) — — 2,340 (7 ) All other, at fair value — — — — — — — — — — — — Total other assets $2,299 ($7 ) $— ($7 ) $— $164 $— ($116 ) $— $— $2,340 ($7 ) Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in other Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $— $— $— $— $— $530 $— $— $— $— $530 $— Other debt, at fair value 95 — — — — — — (1 ) — — 94 — Net derivatives (2) 50 21 — 21 — 1 — (11 ) — — 61 13 Other Liabilities: All other, at fair value ($2 ) $2 $— $2 $10 $— $— $— $— $— $10 $2 (1) Transfers out of Level 3 during 1Q 2018 and 1Q 2017 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. Certain Freddie Mac securities are classified as Level 3 at issuance and generally are classified as Level 2 when they begin trading. Transfers into Level 3 during 1Q 2018 and 1Q 2017 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 the net of derivative assets and liabilities prior to counterparty netting, cash collateral netting, net trade/settle receivable or payable and net derivative interest receivable or payable. (3) Represents the amount of total gains or losses for the period, included in earnings, attributable to the change in unrealized gains and losses related to assets and liabilities classified as Level 3 that were still held at March 31, 2018 and March 31, 2017, respectively. Included in these amounts are other-than temporary impairments recorded on available-for-sale securities.
Table - Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs	Level 3 Fair Value Measurements The tables below present a reconciliation of all assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3. The tables also present gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized in our condensed 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. 1Q 2018 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $5,055 ($3 ) ($105 ) ($108 ) $433 $— $— ($253 ) $— $— $5,127 ($3 ) Other agency 46 — — — — — — (2 ) — — 44 — Non-agency RMBS 3,933 448 (451 ) (3 ) — — (1,467 ) (100 ) — — 2,363 16 Non-agency CMBS 1,697 (2 ) (47 ) (49 ) — — — (5 ) — — 1,643 (2 ) Obligations of states and political subdivisions 357 — (2 ) (2 ) — — — (28 ) — — 327 — Total available-for-sale mortgage-related securities 11,088 443 (605 ) (162 ) 433 — (1,467 ) (388 ) — — 9,504 11 Trading, at fair value: Mortgage-related securities: Freddie Mac 842 (77 ) — (77 ) 817 — (35 ) (5 ) — (86 ) 1,456 (73 ) Other agency 9 — — — — — — — — — 9 — All other 2,066 (47 ) — (47 ) — — (420 ) (16 ) — — 1,583 (38 ) Total trading mortgage-related securities 2,917 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,048 (111 ) Other assets: Guarantee asset 3,171 16 — 16 — 235 — (137 ) — — 3,285 16 All other, at fair value 45 6 — 6 43 9 (15 ) — — — 88 3 Total other assets $3,216 $22 $— $22 $43 $244 ($15 ) ($137 ) $— $— $3,373 $19 Balance, Realized and unrealized (gains) losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $630 ($1 ) $— ($1 ) $— $— $— $— $— $— $629 ($1 ) Other debt, at fair value 137 — — — — — — (2 ) — — 135 — Net derivatives (2) $57 $9 $— $9 $— ($22 ) $— ($4 ) $— $— $40 $6 Referenced footnotes are included after the next table. 1Q 2017 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $9,847 ($2 ) $21 $19 $647 $— ($699 ) ($316 ) $17 ($3,096 ) $6,419 ($6 ) Other agency 66 — — — — — — (4 ) — — 62 — Non-agency RMBS 11,797 277 (98 ) 179 — — (2,217 ) (489 ) — — 9,270 69 Non-agency CMBS 3,366 1 2 3 — — — (9 ) — — 3,360 1 Obligations of states and political subdivisions 665 — — — — — — (105 ) — — 560 — Total available-for-sale mortgage-related securities 25,741 276 (75 ) 201 647 — (2,916 ) (923 ) 17 (3,096 ) 19,671 64 Trading, at fair value: Mortgage-related securities: Freddie Mac 1,095 (47 ) — (47 ) 103 — (592 ) (9 ) 154 (152 ) 552 (41 ) Other agency 12 (1 ) — (1 ) — — — — — — 11 (1 ) All other 113 — — — — — — (4 ) — — 109 — Total trading mortgage-related securities 1,220 (48 ) — (48 ) 103 — (592 ) (13 ) 154 (152 ) 672 (42 ) Other assets: Guarantee asset 2,299 (7 ) — (7 ) — 164 — (116 ) — — 2,340 (7 ) All other, at fair value — — — — — — — — — — — — Total other assets $2,299 ($7 ) $— ($7 ) $— $164 $— ($116 ) $— $— $2,340 ($7 ) Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in other Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $— $— $— $— $— $530 $— $— $— $— $530 $— Other debt, at fair value 95 — — — — — — (1 ) — — 94 — Net derivatives (2) 50 21 — 21 — 1 — (11 ) — — 61 13 Other Liabilities: All other, at fair value ($2 ) $2 $— $2 $10 $— $— $— $— $— $10 $2 (1) Transfers out of Level 3 during 1Q 2018 and 1Q 2017 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. Certain Freddie Mac securities are classified as Level 3 at issuance and generally are classified as Level 2 when they begin trading. Transfers into Level 3 during 1Q 2018 and 1Q 2017 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 the net of derivative assets and liabilities prior to counterparty netting, cash collateral netting, net trade/settle receivable or payable and net derivative interest receivable or payable. (3) Represents the amount of total gains or losses for the period, included in earnings, attributable to the change in unrealized gains and losses related to assets and liabilities classified as Level 3 that were still held at March 31, 2018 and March 31, 2017, respectively. Included in these amounts are other-than temporary impairments recorded on available-for-sale securities.
Table - Quantitative Information about Level 3 Fair Value Measurements	The tables below provide valuation techniques, the range and the weighted average of significant unobservable inputs for Level 3 assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis. March 31, 2018 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Average Recurring fair value measurements Assets Investments in securities Available-for-sale, at fair value Mortgage-related securities Freddie Mac $4,950 Discounted cash flows OAS 21 - 325 bps 72 bps 177 Other Total Freddie Mac 5,127 Other agency 44 Other Non-agency RMBS 2,148 Median of external sources External pricing sources $71.2 - $77.6 $73.8 215 Other Total non-agency RMBS 2,363 Non-agency CMBS 1,643 Single external source External pricing sources $105.0 - $106.0 $105.6 Obligations of states and political subdivisions 306 Median of external sources External pricing sources $100.6 - $101.2 $100.9 21 Other Total obligations of states and political subdivisions 327 Total available-for-sale mortgage-related securities 9,504 Trading, at fair value Mortgage-related securities Freddie Mac 1,168 Risk metrics Effective duration (12.82) - 65.95 years 6.70 years 288 Other Total Freddie Mac 1,456 Other agency 9 Other All other 1,582 Single external source External pricing sources $6.3 - $110.0 $96.1 1 Other Total all other 1,583 Total trading mortgage-related securities 3,048 Total investments in securities $12,552 Other assets: Guarantee asset, at fair value $3,285 Discounted cash flows OAS 17 - 198 bps 45 bps All other at fair value 88 Other Total other assets 3,373 Liabilities Debt securities of consolidated trusts held by third parties, at fair value 629 Single external source External Pricing Sources $97.8 - $100.5 $100.0 Other debt, at fair value 135 Other Net derivatives 40 Other December 31, 2017 Level 3 Predominant Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Recurring fair value measurements Assets Investments in securities: Available-for-sale, at fair value Mortgage-related securities Freddie Mac $4,873 Discounted cash flows OAS 27 - 501 bps 68 bps 182 Other Total Freddie Mac 5,055 Other agency 46 Other Non-agency RMBS 3,665 Median of external sources External pricing sources $75.6 - $80.8 $77.7 268 Other Total non-agency RMBS 3,933 Non-agency CMBS 1,696 Single external source External pricing sources $108.4 - $108.9 $108.7 1 Other Total non-agency CMBS 1,697 Obligations of states and political subdivisions 334 Median of external sources External pricing sources $101.2 - $101.6 $101.4 23 Other Total obligations of states and political subdivisions 357 Total available-for-sale mortgage-related securities 11,088 Trading, at fair value Mortgage-related securities Freddie Mac 582 Discounted cash flows OAS (8,905) - 27,202 bps (88) bps 243 Risk metrics Effective duration 0.00 - 55.93 years 11.76 years 17 Other Total Freddie Mac 842 Other agency 9 Other All other 2,065 Single external source External pricing sources $6.4 - $113.2 $98.0 1 Other Total all other 2,066 Total trading mortgage-related securities 2,917 Total investments in securities $14,005 Other assets: Guarantee asset, at fair value $3,171 Discounted cash flows OAS 17 - 198 bps 45 bps All other at fair value 45 Other Total other assets 3,216 Liabilities Debt securities of consolidated trusts held by third parties, at fair value 630 Single external source External Pricing Sources $99.2 - $100.2 $100.1 Other debt, at fair value 137 Other Net derivatives 57 Other The tables below provide valuation techniques, the range and the weighted average of significant unobservable inputs for Level 3 assets and liabilities measured on our condensed consolidated balance sheets at fair value on a non-recurring basis. Certain of the fair values in the tables below were not obtained as of the period end, but were obtained during the period. March 31, 2018 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $5,716 Internal model Historical sales proceeds $3,000 - $947,675 $176,122 Internal model Housing sales index 43 - 455 bps 102 bps Median of external sources External pricing sources $36.1 - $94.8 $81.5 December 31, 2017 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $6,199 Internal model Historical sales proceeds $3,000 - $899,000 $176,558 Internal model Housing sales index 43 - 394 bps 102 bps Median of external sources External pricing sources $36.5 - $94.9 $80.9
Table - Quantitative Information about Level 3 Fair Value Measurements	The tables below provide valuation techniques, the range and the weighted average of significant unobservable inputs for Level 3 assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis. March 31, 2018 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Average Recurring fair value measurements Assets Investments in securities Available-for-sale, at fair value Mortgage-related securities Freddie Mac $4,950 Discounted cash flows OAS 21 - 325 bps 72 bps 177 Other Total Freddie Mac 5,127 Other agency 44 Other Non-agency RMBS 2,148 Median of external sources External pricing sources $71.2 - $77.6 $73.8 215 Other Total non-agency RMBS 2,363 Non-agency CMBS 1,643 Single external source External pricing sources $105.0 - $106.0 $105.6 Obligations of states and political subdivisions 306 Median of external sources External pricing sources $100.6 - $101.2 $100.9 21 Other Total obligations of states and political subdivisions 327 Total available-for-sale mortgage-related securities 9,504 Trading, at fair value Mortgage-related securities Freddie Mac 1,168 Risk metrics Effective duration (12.82) - 65.95 years 6.70 years 288 Other Total Freddie Mac 1,456 Other agency 9 Other All other 1,582 Single external source External pricing sources $6.3 - $110.0 $96.1 1 Other Total all other 1,583 Total trading mortgage-related securities 3,048 Total investments in securities $12,552 Other assets: Guarantee asset, at fair value $3,285 Discounted cash flows OAS 17 - 198 bps 45 bps All other at fair value 88 Other Total other assets 3,373 Liabilities Debt securities of consolidated trusts held by third parties, at fair value 629 Single external source External Pricing Sources $97.8 - $100.5 $100.0 Other debt, at fair value 135 Other Net derivatives 40 Other December 31, 2017 Level 3 Predominant Unobservable Inputs ( In millions , except for certain unobservable inputs as shown) Type Range Weighted Recurring fair value measurements Assets Investments in securities: Available-for-sale, at fair value Mortgage-related securities Freddie Mac $4,873 Discounted cash flows OAS 27 - 501 bps 68 bps 182 Other Total Freddie Mac 5,055 Other agency 46 Other Non-agency RMBS 3,665 Median of external sources External pricing sources $75.6 - $80.8 $77.7 268 Other Total non-agency RMBS 3,933 Non-agency CMBS 1,696 Single external source External pricing sources $108.4 - $108.9 $108.7 1 Other Total non-agency CMBS 1,697 Obligations of states and political subdivisions 334 Median of external sources External pricing sources $101.2 - $101.6 $101.4 23 Other Total obligations of states and political subdivisions 357 Total available-for-sale mortgage-related securities 11,088 Trading, at fair value Mortgage-related securities Freddie Mac 582 Discounted cash flows OAS (8,905) - 27,202 bps (88) bps 243 Risk metrics Effective duration 0.00 - 55.93 years 11.76 years 17 Other Total Freddie Mac 842 Other agency 9 Other All other 2,065 Single external source External pricing sources $6.4 - $113.2 $98.0 1 Other Total all other 2,066 Total trading mortgage-related securities 2,917 Total investments in securities $14,005 Other assets: Guarantee asset, at fair value $3,171 Discounted cash flows OAS 17 - 198 bps 45 bps All other at fair value 45 Other Total other assets 3,216 Liabilities Debt securities of consolidated trusts held by third parties, at fair value 630 Single external source External Pricing Sources $99.2 - $100.2 $100.1 Other debt, at fair value 137 Other Net derivatives 57 Other
Table - Fair Value of Financial Instruments	The tables below present the carrying value and estimated fair value of our financial instruments. For certain types of financial instruments, such as cash and cash equivalents, securities purchased under agreements to resell, advances to lenders and other secured lending and certain debt, the carrying value on our GAAP balance sheets approximates fair value, as these assets and liabilities are short-term in nature and have limited market value volatility. March 31, 2018 GAAP Measurement Category (1) GAAP Carrying Amount Fair Value (In millions) Level 1 Level 2 Level 3 Netting Adjustments (2) Total Financial Assets Cash and cash equivalents (3) Amortized cost $8,617 $8,617 $— $— $— $8,617 Securities purchased under agreements to resell Amortized cost 41,828 — 41,828 — — 41,828 Investments in securities: Available-for-sale, at fair value FV - OCI 39,295 — 29,791 9,504 — 39,295 Trading, at fair value FV - NI 36,206 15,713 17,445 3,048 — 36,206 Total investments in securities 75,501 15,713 47,236 12,552 — 75,501 Mortgage loans: Loans held by consolidated trusts 1,778,010 — 1,614,741 137,928 — 1,752,669 Loans held by Freddie Mac 90,341 — 29,045 64,246 — 93,291 Total mortgage loans Various (4) 1,868,351 — 1,643,786 202,174 — 1,845,960 Derivative assets, net FV - NI 454 — 6,770 27 (6,343 ) 454 Guarantee asset FV - NI 3,285 — — 3,304 — 3,304 Non-derivative purchase commitments, at fair value FV - NI 129 — 129 48 — 177 Advances to lenders and other secured lending Amortized cost 1,233 — 332 636 — 968 Total financial assets $1,999,398 $24,330 $1,740,081 $218,741 ($6,343 ) $1,976,809 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $1,726,969 $— $1,695,195 $2,668 $— $1,697,863 Other debt 277,838 — 277,455 3,759 — 281,214 Total debt, net Various (5) 2,004,807 — 1,972,650 6,427 — 1,979,077 Derivative liabilities, net FV - NI 345 — 5,075 67 (4,797 ) 345 Guarantee obligation Amortized cost 3,157 — — 3,435 — 3,435 Non-derivative purchase commitments, at fair value FV - NI 19 — 19 15 — 34 Total financial liabilities $2,008,328 $— $1,977,744 $9,944 ($4,797 ) $1,982,891 (1) FV - NI denotes fair value through net income. FV - OCI denotes fair value through other comprehensive income. (2) Represents counterparty netting, cash collateral netting and net derivative interest receivable or payable. (3) The current and prior period presentation has been modified to include restricted cash and cash equivalents due to recently adopted accounting guidance. (4) As of March 31, 2018, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value and FV - NII were $1.8 trillion , $11.8 billion and $15.8 billion , respectively. (5) As of March 31, 2018, the GAAP carrying amounts measured at amortized cost and FV - NII were $2.0 trillion and $5.6 billion , respectively. December 31, 2017 GAAP Measurement Category (1) GAAP Carrying Amount Fair Value (In millions) Level 1 Level 2 Level 3 Netting Adjustments (2) Total Financial Assets Cash and cash equivalents (3) Amortized cost $9,811 $9,811 $— $— $— $9,811 Securities purchased under agreements to resell Amortized cost 55,903 — 55,903 — — 55,903 Investments in securities: Available-for-sale, at fair value FV - OCI 43,597 — 32,509 11,088 — 43,597 Trading, at fair value FV - NI 40,721 20,159 17,645 2,917 — 40,721 Total investments in securities 84,318 20,159 50,154 14,005 — 84,318 Mortgage loans: Loans held by consolidated trusts 1,774,286 — 1,635,137 145,911 — 1,781,048 Loans held by Freddie Mac 96,931 — 32,169 67,932 — 100,101 Total mortgage loans Various (4) 1,871,217 — 1,667,306 213,843 — 1,881,149 Derivative assets, net FV - NI 375 — 8,830 8 (8,463 ) 375 Guarantee asset FV - NI 3,171 — — 3,359 — 3,359 Non-derivative purchase commitments, at fair value FV - NI 137 — 137 55 — 192 Advances to lenders and other secured lending Amortized cost 1,269 — 473 796 — 1,269 Total financial assets $2,026,201 $29,970 $1,782,803 $232,066 ($8,463 ) $2,036,376 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $1,720,996 $— $1,721,091 $2,679 $— $1,723,770 Other debt 313,634 — 313,688 3,892 — 317,580 Total debt, net Various (5) 2,034,630 — 2,034,779 6,571 — 2,041,350 Derivative liabilities, net FV - NI 269 — 7,424 65 (7,220 ) 269 Guarantee obligation Amortized cost 3,081 — — 3,742 — 3,742 Non-derivative purchase commitments, at fair value FV - NI 4 — 4 15 — 19 Total financial liabilities $2,037,984 $— $2,042,207 $10,393 ($7,220 ) $2,045,380 (1) FV - NI denotes fair value through net income. FV - OCI denotes fair value through other comprehensive income. (2) Represents counterparty netting, cash collateral netting and net derivative interest receivable or payable. (3) The current and prior period presentation has been modified to include restricted cash and cash equivalents due to recently adopted accounting guidance. (4) As of December 31, 2017, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value and FV - NII were $1.8 trillion , $14.7 billion and $20.1 billion , respectively. (5) As of December 31, 2017, the GAAP carrying amounts measured at amortized cost and FV - NII were $2.0 trillion and $5.8 billion , respectively.
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 loans and long-term debt for which we have elected the fair value option. March 31, 2018 December 31, 2017 (In millions) Multifamily Held-For-Sale Loans Other Debt - Long Term Debt Securities Of Consolidated Trusts Held By Third Parties (1) Multifamily Held-For-Sale Loans Other Debt - Long Term Debt Securities Of Consolidated Trusts Held By Third Parties (1) Fair value $15,832 $4,979 $629 $20,054 $5,160 $630 Unpaid principal balance 15,880 4,494 630 19,762 4,666 630 Difference ($48 ) $485 ($1 ) $292 $494 $— (1) Does not include interest-only securities with fair value of $9 million for both March 31, 2018 and December 31, 2017. The table below presents the changes in fair value included in other income (loss) in our condensed consolidated statements of comprehensive income, related to items for which we have elected the fair value option. 1Q 2018 1Q 2017 (In millions) Gains (Losses) Multifamily held-for-sale loans ($458 ) ($35 ) Multifamily held-for-sale loan purchase commitments 105 224 Other debt - long term 9 (99 ) Debt securities of consolidated trusts held by third parties 2 10

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
	Mar. 31, 2018
Mortgage Banking [Abstract]
Table - Net Worth and Minimum Capital	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, 2018 December 31, 2017 GAAP net worth (deficit) $2,150 ($312 ) Core capital (deficit) (1)(2) (70,200 ) (73,037 ) Less: Minimum capital requirement (1) 17,661 18,431 Minimum capital surplus (deficit) (1) ($87,861 ) ($91,468 ) (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 38

Selected Financial Statement Line Items (Tables)	3 Months Ended
	Mar. 31, 2018
Selected Financial Statement Data [Abstract]
Table - Significant Components of Other Income (Loss) and Other Expense on Our Consolidated Statements of Comprehensive Income	The table below presents the significant components of other income (loss) on our condensed consolidated statements of comprehensive income. (In millions) 1Q 2018 1Q 2017 Other income (loss): Gains (losses) on loans ($320 ) $14 Income on guarantee obligation 171 146 Guarantee fee income 194 149 Gains (losses) on held-for-sale loan purchase commitments 105 224 All other (29 ) (118 ) Total other income (loss) $121 $415
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 condensed consolidated balance sheets. (In millions) March 31, 2018 December 31, 2017 Other assets: Real estate owned, net $837 $892 Accounts and other receivables (1) 6,565 7,397 Guarantee asset 3,285 3,171 Fixed assets 837 798 Advances to lenders 901 796 All other 613 636 Total other assets $13,038 $13,690 Other liabilities: Servicer liabilities $587 $628 Guarantee obligation 3,157 3,081 Accounts payable and accrued expenses 715 754 Payables related to securities 2,503 2,813 Income taxes payable 1,415 656 All other 746 1,036 Total other liabilities $9,123 $8,968 (1) Primarily consists of servicer receivables and other non-interest receivables.

Summary of Significant Accoun39

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accounting Standards Update 2016-15
Change in Accounting Estimate [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification		$ 71
Accounting Standards Update 2018- 02
Change in Accounting Estimate [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 88

Conservatorship and Related M40

Conservatorship and Related Matters (Details) - USD ($) $ in Millions	3 Months Ended		42 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018
Related Party Transaction [Line Items]
Maximum limit of the UPB of mortgage-related investments portfolio	$ 250,000		$ 250,000
Maximum percentage of annual cap established by the Purchase Agreement	90.00%		90.00%
UPB of mortgage-related investments portfolio	$ 241,000		$ 241,000
Increase in liquidation preference of senior preferred stock	312	$ 0
Funding available under Purchase Agreement	140,200		140,200
CSS
Related Party Transaction [Line Items]
Amount of related party transaction	$ 41		$ 370

Securitization Activities and41

Securitization Activities and Consolidation - Consolidated VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Variable Interest Entity, Consolidated, Carrying Amount, Assets [Abstract]
Restricted cash and cash equivalents	$ 3,398	$ 2,963
Securities purchased under agreement to resell	41,828	55,903
Mortgage loans held-for-investment	1,840,736	1,836,454
Accrued interest receivable	6,381	6,355
Other assets	13,038	13,690
Total assets	2,022,483	2,049,776
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities [Abstract]
Accrued interest payable	6,058	6,221
Debt, net	2,004,807	2,034,630
Other Liabilities	9,123	8,968
Total liabilities	2,020,333	2,050,088
Held by consolidated trusts
Variable Interest Entity, Consolidated, Carrying Amount, Assets [Abstract]
Restricted cash and cash equivalents	1,165	518
Securities purchased under agreement to resell	14,275	16,750
Mortgage loans held-for-investment	1,778,010	1,774,286
Accrued interest receivable	5,775	5,747
Other assets	2,273	2,738
Total assets	1,801,498	1,800,039
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities [Abstract]
Accrued interest payable	5,045	5,028
Debt, net	1,726,969	1,720,996
Other Liabilities	0	2
Total liabilities	$ 1,732,014	$ 1,726,026

Securitization Activities and42

Securitization Activities and Consolidation - Non-Consolidation VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets [Abstract]
Investments in securities	$ 75,501	$ 84,318
Accrued interest receivable	6,381	6,355
Derivative Assets, net	454	375
Other Assets	13,038	13,690
Liabilities [Abstract]
Derivative Liabilities, net	345	269
Other Liabilities	9,123	8,968
Variable Interest Entity, Not Primary Beneficiary
Assets [Abstract]
Investments in securities	48,925	51,494
Accrued interest receivable	235	233
Derivative Assets, net	26	7
Other Assets	2,706	2,591
Liabilities [Abstract]
Derivative Liabilities, net	29	0
Other Liabilities	2,581	2,489
Maximum Exposure to Loss	211,465	200,196
Total Assets of Non-Consolidated VIEs	$ 245,591	$ 232,762

Mortgage Loans and Loan Loss 43

Mortgage Loans and Loan Loss Reserves (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)numberofloans	Mar. 31, 2017USD ($)numberofloans	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivables [Line Items]
Percent of Single-Family Credit Guarantee portfolio with second lien financing by third parties at origination	9.00%		9.00%
Noncash acquisition, mortgage loans held-for-investment acquired in exchange for issuance of debt securities of consolidated trusts	$ 36,100	$ 60,600
Transfers from advances to lenders to loans HFI	4,800	8,400
Real Estate Owned, Transfer to Real Estate Owned	$ 200	$ 300
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	7.80%		7.80%
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	1,710	1,590
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 200	$ 200
Loans Discharged From Chapter 7 Bankruptcy [Member]
Accounts, Notes, Loans and Financing Receivables [Line Items]
Number of Loans, Modifications, Subsequent Default | numberofloans	159	258
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 18	$ 30
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
Financing Receivable, Significant Purchases	65,500	85,600
Financing Receivable, Significant Sales	1,800	0
Amount of mortgage loans reclassified to held-for-sale	$ 1,700	$ 1,700
Number of Loans, Modifications, Subsequent Default | numberofloans	3,445	3,885
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 519	$ 638
Interest rate reduction and term extension types, percentage of completed modifications	19.00%	43.00%
Principal forebearance and interest rate reductions and term extension types, percentage of completed modifications	29.00%	14.00%
Average term extension, number of months of completed modifications	166 months	172 months
Average interest rate reduction, percentage of completed modifications	0.40%	0.90%
Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
Financing Receivable, Significant Sales	$ 16,200	$ 9,900
Amount of mortgage loans reclassified to held-for-sale	$ 300	$ 0
Number of Loans, Modifications, Subsequent Default | numberofloans	0	0
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 0	$ 0
Multifamily | HFI loans
Accounts, Notes, Loans and Financing Receivables [Line Items]
Financing Receivable, Significant Purchases	1,000	1,300
Multifamily | HFS loans
Accounts, Notes, Loans and Financing Receivables [Line Items]
Financing Receivable, Significant Purchases	$ 11,800	$ 11,200

Mortgage Loans and Loan Loss 44

Mortgage Loans and Loan Loss Reserves - Mortgage Loans (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	$ 30,139	$ 37,576
Cost basis and fair value adjustments, net HFS	(2,524)	(2,813)
Total held-for-sale loans, net	27,615	34,763
UPB of mortgage loans - HFI	1,823,594	1,816,078
Cost basis adjustment HFI	25,990	29,342
Allowance for loan losses on mortgage loans held-for-investment	(8,848)	(8,966)
Total held-for-investment mortgage loans, net	1,840,736	1,836,454
Total loans, net	1,868,351	1,871,217
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	13,756	17,039
UPB of mortgage loans - HFI	1,803,507	1,794,629
Allowance for loan losses on mortgage loans held-for-investment	(8,829)	(8,931)
Total held-for-investment mortgage loans, net	1,820,686	1,815,056
Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	16,383	20,537
UPB of mortgage loans - HFI	20,087	21,449
Allowance for loan losses on mortgage loans held-for-investment	(19)	(35)
Total held-for-investment mortgage loans, net	20,050	21,398
Held by Freddie Mac
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	30,139	37,576
Cost basis and fair value adjustments, net HFS	(2,524)	(2,813)
Total held-for-sale loans, net	27,615	34,763
UPB of mortgage loans - HFI	70,673	69,595
Cost basis adjustment HFI	(2,625)	(2,148)
Allowance for loan losses on mortgage loans held-for-investment	(5,322)	(5,279)
Total held-for-investment mortgage loans, net	62,726	62,168
Total loans, net	90,341	96,931
Held by Freddie Mac | Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	13,756	17,039
UPB of mortgage loans - HFI	54,460	51,893
Held by Freddie Mac | Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	16,383	20,537
UPB of mortgage loans - HFI	16,213	17,702
Held by consolidated trusts
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	0	0
Cost basis and fair value adjustments, net HFS	0	0
Total held-for-sale loans, net	0	0
UPB of mortgage loans - HFI	1,752,921	1,746,483
Cost basis adjustment HFI	28,615	31,490
Allowance for loan losses on mortgage loans held-for-investment	(3,526)	(3,687)
Total held-for-investment mortgage loans, net	1,778,010	1,774,286
Total loans, net	1,778,010	1,774,286
Held by consolidated trusts | Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	0	0
UPB of mortgage loans - HFI	1,749,047	1,742,736
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	$ 3,874	$ 3,747

Mortgage Loans and Loan Loss 45

Mortgage Loans and Loan Loss Reserves - Recorded Investment of Held-For-Investment Mortgage Loans, by LTV Ratio (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,849,584	$ 1,845,420
Single-Family serious delinquency rate	0.97%	1.08%
UPB for Single-family reduced interest rate provision	$ 20,500	$ 22,200
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	1,480,577	1,467,704
Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	273,854	277,998
Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	49,857	51,587
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	25,227	26,698
Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,829,515	$ 1,823,987
Single-Family serious delinquency rate	0.97%	1.08%
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	$ 1,270,145	$ 1,240,224
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	267,453	270,266
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	47,364	48,596
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	20,489	21,013
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	1,605,451	1,580,099
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	199,335	214,177
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	6,105	7,351
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	2,474	2,963
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	3,576	4,256
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	211,490	228,747
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	11,097	13,303
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	296	381
Greater Than 100 Estimated Current LTV Ratio | Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	19	28
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	1,162	1,429
Greater Than 100 Estimated Current LTV Ratio | Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 12,574	$ 15,141
Single-Family serious delinquency rate	8.50%	8.43%

Mortgage Loans and Loan Loss 46

Mortgage Loans and Loan Loss Reserves - Recorded Investment of Multifamily Mortgage Loans, by Credit Classification (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,849,584	$ 1,845,420
Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	20,069	21,433
Pass | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	19,503	20,963
Special Mention | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	330	301
Substandard | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	234	169
Doubtful | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 2	$ 0

Mortgage Loans and Loan Loss 47

Mortgage Loans and Loan Loss Reserves - Payment Status of Mortgage Loans (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 1,815,591	$ 1,802,770
Total recorded investment	1,849,584	1,845,420
Non-Accrual	13,612	14,882
Mortgage Loans in Process of Foreclosure, Amount	4,200	4,100
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,451,682	1,431,342
Total recorded investment	1,480,577	1,467,704
Non-Accrual	11,337	12,401
Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	272,305	275,864
Total recorded investment	273,854	277,998
Non-Accrual	507	556
Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	49,347	50,915
Total recorded investment	49,857	51,587
Non-Accrual	183	205
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	22,224	23,235
Total recorded investment	25,227	26,698
Non-Accrual	1,520	1,656
Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,795,558	1,781,356
Total recorded investment	1,829,515	1,823,987
Non-Accrual	13,547	14,818
Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	20,033	21,414
Total recorded investment	20,069	21,433
Non-Accrual	65	64
One month past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	15,659	21,265
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	13,478	18,297
One month past due | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	855	1,288
One month past due | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	262	383
One month past due | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,046	1,297
One month past due | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	15,641	21,265
One month past due | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	18	0
Two months past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	4,763	6,543
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	4,075	5,660
Two months past due | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	187	290
Two months past due | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	65	84
Two months past due | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	436	509
Two months past due | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	4,763	6,543
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	13,571	14,842
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	11,342	12,405
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	507	556
Three months or more past due or in foreclosure | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	183	205
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	1,521	1,657
Three months or more past due or in foreclosure | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	13,553	14,823
Three months or more past due or in foreclosure | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	$ 18	$ 19

Mortgage Loans and Loan Loss 48

Mortgage Loans and Loan Loss Reserves - Delinquency Rates (Details) $ in Millions	Mar. 31, 2018USD ($)numberofloans	Dec. 31, 2017USD ($)numberofloans
Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.97%	1.08%
Single-family
Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.97%	1.08%
Total number of seriously delinquent loans	105,211	116,662
Single-family | Non-credit-enhanced portfolio
Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	1.07%	1.16%
Total number of seriously delinquent loans	73,914	81,668
Single-family | Credit-enhanced portfolio | Primary mortgage insurance
Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	1.28%	1.43%
Total number of seriously delinquent loans	20,939	23,275
Single-family | Credit-enhanced portfolio | Other credit protection
Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.44%	0.53%
Total number of seriously delinquent loans	14,834	16,259
Multifamily
Mortgage Loans on Real Estate [Line Items]
Delinquency Rate	0.02%	0.02%
UPB of delinquent loans | $	$ 45	$ 40
Multifamily | Non-credit-enhanced portfolio
Mortgage Loans on Real Estate [Line Items]
Delinquency Rate	0.05%	0.06%
UPB of delinquent loans | $	$ 19	$ 24
Multifamily | Credit-enhanced portfolio
Mortgage Loans on Real Estate [Line Items]
Delinquency Rate	0.01%	0.01%
UPB of delinquent loans | $	$ 26	$ 16

Mortgage Loans and Loan Loss 49

Mortgage Loans and Loan Loss Reserves - Detail of Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Rollforward of Allowance for Loan Losses
Ending balance	$ 8,903	$ 12,803
Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Beginning balance	57
Ending balance	55	64
Held by Freddie Mac | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Ending balance	5,322	9,884
Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Ending balance	3,526	2,855
Single-family
Rollforward of Allowance for Loan Losses
Beginning balance	8,979	13,465
Provision (benefit) for credit losses	79	(110)
Charge-offs	(372)	(740)
Recoveries	96	97
Transfers, net	0	0
Other	95	62
Ending balance	8,877	12,774
Single-family | Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Beginning balance	48	54
Provision (benefit) for credit losses	2	0
Charge-offs	(2)	0
Recoveries	0	0
Transfers, net	0	0
Other	0	0
Ending balance	48	54
Single-family | Held by Freddie Mac | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	5,251	10,442
Provision (benefit) for credit losses	98	(216)
Charge-offs	(355)	(697)
Recoveries	95	95
Transfers, net	126	181
Other	90	61
Ending balance	5,305	9,866
Single-family | Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	3,680	2,969
Provision (benefit) for credit losses	(21)	106
Charge-offs	(15)	(43)
Recoveries	1	2
Transfers, net	(126)	(181)
Other	5	1
Ending balance	3,524	2,854
Multifamily
Rollforward of Allowance for Loan Losses
Ending balance	26	29
Multifamily | Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Ending balance	7	10
Multifamily | Held by Freddie Mac | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Ending balance	17	18
Multifamily | Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Ending balance	$ 2	$ 1

Mortgage Loans and Loan Loss 50

Mortgage Loans and Loan Loss Reserves - Net Investment in Mortgage Loans (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	$ 1,787,775	$ 1,786,051
Recorded investment, individually evaluated	61,809	59,369
Total recorded investment	1,849,584	1,845,420
Allowance for loan losses, collectively evaluated	(1,872)	(2,329)
Allowance for loan losses, individually evaluated	(6,976)	(6,637)
Total ending balance of the allowance	(8,848)	(8,966)
Total held-for-investment mortgage loans, net	1,840,736	1,836,454
Single-family
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	1,767,827	1,764,750
Recorded investment, individually evaluated	61,688	59,237
Total recorded investment	1,829,515	1,823,987
Allowance for loan losses, collectively evaluated	(1,861)	(2,301)
Allowance for loan losses, individually evaluated	(6,968)	(6,630)
Total ending balance of the allowance	(8,829)	(8,931)
Total held-for-investment mortgage loans, net	1,820,686	1,815,056
Multifamily
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	19,948	21,301
Recorded investment, individually evaluated	121	132
Total recorded investment	20,069	21,433
Allowance for loan losses, collectively evaluated	(11)	(28)
Allowance for loan losses, individually evaluated	(8)	(7)
Total ending balance of the allowance	(19)	(35)
Total held-for-investment mortgage loans, net	$ 20,050	$ 21,398

Mortgage Loans and Loan Loss 51

Mortgage Loans and Loan Loss Reserves - Individually Impaired Loans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
With specific allowance recorded [Abstract]
Impaired Financing Receivable, Related Allowance	$ (6,976)		$ (6,637)
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	64,757		62,038
Impaired Financing Receivable, Recorded Investment	61,809		59,369
Average Recorded Investment	60,867	$ 83,941
Interest Income Recognized	805	938
Interest Income Recognized On Cash Basis	105	90
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	4,324		3,768
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	3,354		2,908
Average Recorded Investment	3,311	4,031
Interest Income Recognized	94	109
Interest Income Recognized On Cash Basis	7	4
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	49,940		47,897
Impaired Financing Receivable, with Related Allowance, Recorded Investment	48,721		46,783
Impaired Financing Receivable, Related Allowance	(5,832)		(5,505)
Average Recorded Investment	47,868	65,091
Interest Income Recognized	592	670
Interest Income Recognized On Cash Basis	83	70
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	54,264		51,665
Impaired Financing Receivable, Recorded Investment	52,075		49,691
Average Recorded Investment	51,179	69,122
Interest Income Recognized	686	779
Interest Income Recognized On Cash Basis	90	74
Single-family 15-year amortizing fixed-rate
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	24		24
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	20		21
Average Recorded Investment	20	26
Interest Income Recognized	1	1
Interest Income Recognized On Cash Basis	0	0
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	944		752
Impaired Financing Receivable, with Related Allowance, Recorded Investment	955		757
Impaired Financing Receivable, Related Allowance	(45)		(24)
Average Recorded Investment	869	825
Interest Income Recognized	8	12
Interest Income Recognized On Cash Basis	3	2
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	968		776
Impaired Financing Receivable, Recorded Investment	975		778
Average Recorded Investment	889	851
Interest Income Recognized	9	13
Interest Income Recognized On Cash Basis	3	2
Single-family Adjustable-rate
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	261		259
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	259		256
Average Recorded Investment	263	311
Interest Income Recognized	3	3
Interest Income Recognized On Cash Basis	0	0
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	245		232
Impaired Financing Receivable, with Related Allowance, Recorded Investment	241		228
Impaired Financing Receivable, Related Allowance	(14)		(14)
Average Recorded Investment	226	274
Interest Income Recognized	2	3
Interest Income Recognized On Cash Basis	1	1
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	506		491
Impaired Financing Receivable, Recorded Investment	500		484
Average Recorded Investment	489	585
Interest Income Recognized	5	6
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	1,636		1,558
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	1,354		1,297
Average Recorded Investment	1,356	1,655
Interest Income Recognized	23	29
Interest Income Recognized On Cash Basis	1	1
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	7,255		7,407
Impaired Financing Receivable, with Related Allowance, Recorded Investment	6,784		6,987
Impaired Financing Receivable, Related Allowance	(1,077)		(1,087)
Average Recorded Investment	6,834	11,416
Interest Income Recognized	80	107
Interest Income Recognized On Cash Basis	9	11
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	8,891		8,965
Impaired Financing Receivable, Recorded Investment	8,138		8,284
Average Recorded Investment	8,190	13,071
Interest Income Recognized	103	136
Interest Income Recognized On Cash Basis	10	12
Single-family
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	6,245		5,609
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	4,987		4,482
Average Recorded Investment	4,950	6,023
Interest Income Recognized	121	142
Interest Income Recognized On Cash Basis	8	5
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	58,384		56,288
Impaired Financing Receivable, with Related Allowance, Recorded Investment	56,701		54,755
Impaired Financing Receivable, Related Allowance	(6,968)		(6,630)
Average Recorded Investment	55,797	77,606
Interest Income Recognized	682	792
Interest Income Recognized On Cash Basis	96	84
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	64,629		61,897
Impaired Financing Receivable, Recorded Investment	61,688		59,237
Average Recorded Investment	60,747	83,629
Interest Income Recognized	803	934
Interest Income Recognized On Cash Basis	104	89
Multifamily
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	92		106
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	85		97
Average Recorded Investment	84	271
Interest Income Recognized	2	3
Interest Income Recognized On Cash Basis	1	1
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	36		35
Impaired Financing Receivable, with Related Allowance, Recorded Investment	36		35
Impaired Financing Receivable, Related Allowance	(8)		(7)
Average Recorded Investment	36	41
Interest Income Recognized	0	1
Interest Income Recognized On Cash Basis	0	0
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	128		141
Impaired Financing Receivable, Recorded Investment	121		$ 132
Average Recorded Investment	120	312
Interest Income Recognized	2	4
Interest Income Recognized On Cash Basis	$ 1	$ 1

Mortgage Loans and Loan Loss 52

Mortgage Loans and Loan Loss Reserves - TDR Activity, By Segment (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)numberofloans	Mar. 31, 2017USD ($)numberofloans
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	19,699	8,964
Post TDR Recorded Investments	$ 3,305	$ 1,283
Single-family 15-year amortizing fixed-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	2,816	1,192
Post TDR Recorded Investments	$ 292	$ 88
Single-family Adjustable-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	319	250
Post TDR Recorded Investments	$ 57	$ 35
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	1,239	680
Post TDR Recorded Investments	$ 203	$ 114
Single-family
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	24,073	11,086
Post TDR Recorded Investments	$ 3,857	$ 1,520
Pre-TDR Recorded Investments	$ 3,900	$ 1,500
Multifamily
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	0	0
Post TDR Recorded Investments	$ 0	$ 0

Mortgage Loans and Loan Loss 53

Mortgage Loans and Loan Loss Reserves - Payment Defaults of Completed TDR Modifications, by Segment (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)numberofloans	Mar. 31, 2017USD ($)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	2,956	3,356
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 443	$ 553
Single-family 15-year amortizing fixed-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	170	168
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 15	$ 13
Single-family Adjustable-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	44	56
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 7	$ 8
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	275	305
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 54	$ 64
Single-family
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	3,445	3,885
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 519	$ 638
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

Guarantee Activities Guarante54

Guarantee Activities Guarantee Activities - Financial Guarantees (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Guarantor Obligations [Line Items]
Recognized Liability	$ 3,157	$ 3,081
Reserve for guarantee losses	8,903		$ 12,803
Payment Guarantee
Guarantor Obligations [Line Items]
Maximum Exposure	12,837	9,661
Recognized Liability	$ 150	$ 141
Maximum Remaining Term	30 months	28 years
Single-family
Guarantor Obligations [Line Items]
Maximum Exposure	$ 18,333	$ 17,081
Recognized Liability	319	310
Reserve for guarantee losses	8,877	8,979	12,774	$ 13,465
Single-family | Securitization activity guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	12,208	10,817
Recognized Liability	$ 139	$ 120
Maximum Remaining Term	40 months	40 years
Single-family | Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 6,125	$ 6,264
Recognized Liability	$ 180	$ 190
Maximum Remaining Term	30 months	31 years
Multifamily
Guarantor Obligations [Line Items]
Maximum Exposure	$ 207,422	$ 198,656
Recognized Liability	2,838	2,771
Reserve for guarantee losses	26		29
Multifamily | Securitization activity guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	197,404	188,768
Recognized Liability	$ 2,375	$ 2,305
Maximum Remaining Term	40 months	40 years
Multifamily | Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 10,018	$ 9,888
Recognized Liability	$ 463	$ 466
Maximum Remaining Term	36 months	36 years
Reserve for guarantee losses
Guarantor Obligations [Line Items]
Reserve for guarantee losses	$ 55	$ 57	64
Reserve for guarantee losses | Single-family
Guarantor Obligations [Line Items]
Reserve for guarantee losses	48	$ 48	54	$ 54
Reserve for guarantee losses | Multifamily
Guarantor Obligations [Line Items]
Reserve for guarantee losses	$ 7		$ 10

Credit Enhancements - Attached

Credit Enhancements - Attached Credit Enhancements (Details) - Attached Credit Enhancements [Member] - Single-family - Primary mortgage insurance - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Credit Enhancement [Line Items]
Total current and protected UPB	$ 338,457	$ 334,189
Maximum coverage	$ 86,622	$ 85,429

Credit Enhancements - Freestand

Credit Enhancements - Freestanding Credit Enhancements (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Single-family
Credit Enhancement [Line Items]
Collateral posted by counterparties on ACIS transactions	$ 1,200	$ 1,100
Freestanding credit enhancements
Credit Enhancement [Line Items]
Maximum coverage	48,177	46,364
Freestanding credit enhancements | Single-family
Credit Enhancement [Line Items]
Maximum coverage	15,414	14,949
Freestanding credit enhancements | Single-family | Non-consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	10,404	8,953
Maximum coverage	1,904	1,734
Freestanding credit enhancements | Single-family | ACIS
Credit Enhancement [Line Items]
Total current and protected UPB	650,420	617,730
Maximum coverage	7,148	6,736
Freestanding credit enhancements | Single-family | Other
Credit Enhancement [Line Items]
Total current and protected UPB	15,641	15,975
Maximum coverage	6,362	6,479
Freestanding credit enhancements | Multifamily
Credit Enhancement [Line Items]
Maximum coverage	32,763	31,415
Freestanding credit enhancements | Multifamily | Non-consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	197,268	187,299
Maximum coverage	32,039	30,689
Freestanding credit enhancements | Multifamily | Other
Credit Enhancement [Line Items]
Total current and protected UPB	1,756	1,833
Maximum coverage	$ 724	$ 726

Credit Enhancements - Debt with

Credit Enhancements - Debt with Embedded Credit Enhancements (Details) - Debt with Embedded Credit Enhancements - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Credit Enhancement [Line Items]
Maximum coverage	$ 19,805	$ 18,284
Single-family
Credit Enhancement [Line Items]
Maximum coverage	19,490	17,967
Single-family | STACR debt notes
Credit Enhancement [Line Items]
Total current and protected UPB	661,399	604,356
Maximum coverage	19,183	17,788
Single-family | Consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	6,582	3,330
Maximum coverage	307	179
Multifamily
Credit Enhancement [Line Items]
Maximum coverage	315	317
Multifamily | Consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	1,800	1,800
Maximum coverage	180	180
Multifamily | SCR debt notes
Credit Enhancement [Line Items]
Total current and protected UPB	2,704	2,732
Maximum coverage	$ 135	$ 137

Investments in Securities (Deta

Investments in Securities (Details)	3 Months Ended
	Mar. 31, 2018USD ($)numberofsecurities	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Schedule of Available-for-sale Securities [Line Items]
Held-to-maturity Securities	$ 0		$ 0
Net unrealized gains (losses) on trading securities held at balance sheets date	(212,000,000)	$ 43,000,000
Available-for-sale Securities, Debt Maturities, Rolling after Year Ten, Fair Value	36,200,000,000
Available-for-sale Securities, Debt Maturities, Rolling Year Six Through Ten, Fair Value	$ 2,500,000,000
Separate securities in gross unrealized loss position | numberofsecurities	354
Net impairment of available-for-sale securities recognized in earnings	$ 0	$ 13,000,000
Ending balance of remaining credit losses on available-for-sale securities where a portion of other-than-temporary impairment was recognized in other comprehensive income	1,000,000,000		$ 1,100,000,000
Purchase of trading securities on account	2,500,000,000
Sale of trading securities on account	$ 2,600,000,000

Investments in Securities - Inv

Investments in Securities - Investments in Securities (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Trading securities	$ 36,206	$ 40,721
Available-for-sale securities	39,295	43,597
Total	$ 75,501	$ 84,318

Investments in Securities - Tra

Investments in Securities - Trading Securities (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Trading Securities [Line Items]
Trading, at fair value	$ 36,206	$ 40,721
Mortage-related securities
Trading Securities [Line Items]
Trading, at fair value	17,644	17,902
Freddie Mac
Trading Securities [Line Items]
Trading, at fair value	12,617	12,235
Other agency
Trading Securities [Line Items]
Trading, at fair value	3,425	3,574
Non-agency RMBS
Trading Securities [Line Items]
Trading, at fair value	732	750
Non-agency CMBS
Trading Securities [Line Items]
Trading, at fair value	870	1,343
Non-mortgage-related securities
Trading Securities [Line Items]
Trading, at fair value	$ 18,562	$ 22,819

Investments in Securities - Ava

Investments in Securities - Available-For-Sale Securities (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 39,289	$ 42,578
Gross Unrealized Gains	809	1,509
Available-for-sale, at fair value	39,295	43,597
Freddie Mac
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	33,532	35,433
Gross Unrealized Gains	288	499
Available-for-sale, at fair value	33,063	35,470
Other agency
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,790	2,008
Gross Unrealized Gains	46	56
Available-for-sale, at fair value	1,830	2,053
Non-agency RMBS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,894	3,012
Gross Unrealized Gains	472	927
Available-for-sale, at fair value	2,363	3,933
Non-agency CMBS
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,749	1,773
Gross Unrealized Gains	0	22
Available-for-sale, at fair value	1,712	1,784
Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	324	352
Gross Unrealized Gains	3	5
Available-for-sale, at fair value	327	357
Other-than-temporary impairment
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(12)	(14)
Other-than-temporary impairment | Freddie Mac
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	0	0
Other-than-temporary impairment | Other agency
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	0	0
Other-than-temporary impairment | Non-agency RMBS
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(2)	(5)
Other-than-temporary impairment | Non-agency CMBS
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(10)	(9)
Other-than-temporary impairment | Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	0	0
Temporary impairment
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(791)	(476)
Temporary impairment | Freddie Mac
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(757)	(462)
Temporary impairment | Other agency
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(6)	(11)
Temporary impairment | Non-agency RMBS
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(1)	(1)
Temporary impairment | Non-agency CMBS
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	(27)	(2)
Temporary impairment | Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Gross Unrealized Losses	$ 0	$ 0

Investments in Securities - A62

Investments in Securities - Available-For-Sale Securities in a Gross Unrealized Loss Position (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	$ 13,615	$ 11,420
Less than 12 Months Gross Unrealized Losses	(246)	(109)
12 Months or Greater Fair Value	10,562	10,508
12 Months or Greater Gross Unrealized Losses	(557)	(381)
Freddie Mac
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	11,877	10,337
Less than 12 Months Gross Unrealized Losses	(219)	(107)
12 Months or Greater Fair Value	9,455	9,251
12 Months or Greater Gross Unrealized Losses	(538)	(355)
Other agency
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	35	40
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Fair Value	943	1,079
12 Months or Greater Gross Unrealized Losses	(6)	(11)
Non-agency RMBS
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	4	5
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Fair Value	104	105
12 Months or Greater Gross Unrealized Losses	(3)	(6)
Non-agency CMBS
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	1,671	1,026
Less than 12 Months Gross Unrealized Losses	(27)	(2)
12 Months or Greater Fair Value	39	52
12 Months or Greater Gross Unrealized Losses	(10)	(9)
Obligations of states and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months Fair Value	28	12
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Fair Value	21	21
12 Months or Greater Gross Unrealized Losses	$ 0	$ 0

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, 2018	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 446	$ 218
Gross realized losses	(51)	(28)
Net realized gains (losses)	$ 395	$ 190

Debt Securities and Subordina64

Debt Securities and Subordinated Borrowings (Details) $ in Billions	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Debt cap under Purchase Agreement for the current year	$ 346.1
Debt cap under Purchase Agreement for the following year	300
Aggregate indebtedness	$ 281.6

Debt Securities and Subordina65

Debt Securities and Subordinated Borrowings - Total Debt, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Debt Net [Abstract]
Total Debt, Net	$ 2,004,807		$ 2,034,630
Interest Expense [Abstract]
Interest Expense, Total	13,957	$ 13,185
Held by consolidated trusts
Debt Net [Abstract]
Total Debt, Net	1,726,969		1,720,996
Interest Expense [Abstract]
Interest Expense, Total	12,514	11,721
Held by Freddie Mac
Debt Net [Abstract]
Short-term Debt Balance Net	54,255		73,069
Long-term Debt Balance, Net	223,583		240,565
Total Debt, Net	277,838		$ 313,634
Interest Expense [Abstract]
Interest Expense, Short-term Borrowings	229	96
Interest Expense, Long-term Debt	1,214	1,368
Interest Expense, Total	$ 1,443	$ 1,464

Debt Securities and Subordina66

Debt Securities and Subordinated Borrowings - Debt Securities of Consolidated Trusts Held by Third Parties (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt, Net	$ 2,004,807	$ 2,034,630
Debt instrument recorded at fair value	5,617	5,799
Held by consolidated trusts
Debt Instrument [Line Items]
UPB	1,679,968	1,672,605
Debt, Net	$ 1,726,969	$ 1,720,996
Effective rate for debt securities of consolidated trusts held by third parties	2.94%	2.84%
Debt instrument recorded at fair value	$ 638	$ 639
Held by consolidated trusts | Single-family
Debt Instrument [Line Items]
UPB	1,675,960	1,668,729
Debt, Net	1,722,903	1,717,078
Held by consolidated trusts | Multifamily
Debt Instrument [Line Items]
UPB	4,008	3,876
Debt, Net	$ 4,066	$ 3,918
Weighted Average Coupon	3.80%	3.99%
Held by consolidated trusts | Single-family 30-year or more, fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 1,294,881	$ 1,278,911
Debt, Net	$ 1,333,449	$ 1,318,350
Weighted Average Coupon	3.68%	3.68%
Held by consolidated trusts | Single-family 20-year fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 72,248	$ 73,866
Debt, Net	$ 74,308	$ 76,022
Weighted Average Coupon	3.42%	3.43%
Held by consolidated trusts | Single-family 15-year fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 255,968	$ 260,633
Debt, Net	$ 261,219	$ 266,241
Weighted Average Coupon	2.86%	2.86%
Held by consolidated trusts | Single-family Adjustable-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 45,337	$ 47,169
Debt, Net	$ 46,313	$ 48,220
Weighted Average Coupon	2.88%	2.85%
Held by consolidated trusts | Single-family Interest-only | Single-family
Debt Instrument [Line Items]
UPB	$ 6,711	$ 7,303
Debt, Net	$ 6,780	$ 7,379
Weighted Average Coupon	3.79%	3.74%
Held by consolidated trusts | FHA/VA | Single-family
Debt Instrument [Line Items]
UPB	$ 815	$ 847
Debt, Net	$ 834	$ 866
Weighted Average Coupon	4.83%	4.85%

Debt Securities and Subordina67

Debt Securities and Subordinated Borrowings - Other Debt (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Long-term Debt [Abstract]
Debt, net	$ 2,004,807	$ 2,034,630
Held by Freddie Mac
Short-term Debt [Abstract]
Other short-term debt par value	54,315	73,190
Other short-term debt carrying amount	$ 54,255	$ 73,069
Other short-term debt weighted average effective rate	1.31%	1.14%
Long-term Debt [Abstract]
Other long-term debt par value	$ 226,616	$ 242,916
Other long-term debt carrying amount	$ 223,583	$ 240,565
Other long-term debt weighted average effective rate	2.24%	2.04%
Total par value	$ 280,931	$ 316,106
Debt, net	277,838	313,634
Long-term Debt, Fair Value	4,979	5,160
Balance Net Of Callable Other Long Term Debt	113,500	113,800
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2018
Long-term Debt [Abstract]
Other long-term debt par value	42,157	70,557
Other long-term debt carrying amount	$ 42,172	$ 70,587
Other long-term debt weighted average effective rate	1.38%	1.16%
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2019
Long-term Debt [Abstract]
Other long-term debt par value	$ 61,168	$ 57,689
Other long-term debt carrying amount	$ 61,120	$ 57,637
Other long-term debt weighted average effective rate	1.54%	1.54%
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2020
Long-term Debt [Abstract]
Other long-term debt par value	$ 38,232	$ 38,117
Other long-term debt carrying amount	$ 38,205	$ 38,087
Other long-term debt weighted average effective rate	1.68%	1.68%
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2021
Long-term Debt [Abstract]
Other long-term debt par value	$ 26,040	$ 22,809
Other long-term debt carrying amount	$ 26,050	$ 22,829
Other long-term debt weighted average effective rate	1.89%	1.80%
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2022
Long-term Debt [Abstract]
Other long-term debt par value	$ 18,715	$ 18,538
Other long-term debt carrying amount	$ 18,684	$ 18,506
Other long-term debt weighted average effective rate	2.38%	2.38%
Held by Freddie Mac | Other long-term debt | Other long-term debt - Thereafter
Long-term Debt [Abstract]
Other long-term debt par value	$ 20,986	$ 17,281
Other long-term debt carrying amount	$ 18,394	$ 14,660
Other long-term debt weighted average effective rate	4.81%	5.29%
Held by Freddie Mac | STACR and SCR debt
Long-term Debt [Abstract]
Other long-term debt par value	$ 19,318	$ 17,925
Other long-term debt carrying amount	$ 19,714	$ 18,338
Other long-term debt weighted average effective rate	5.24%	5.06%
Held by Freddie Mac | Hedging-Related Basis Adjustments
Long-term Debt [Abstract]
Other long-term debt carrying amount	$ (756)	$ (79)
Held by Freddie Mac | Discount notes and Reference Bills
Short-term Debt [Abstract]
Other short-term debt par value	26,958	45,717
Other short-term debt carrying amount	$ 26,898	$ 45,596
Other short-term debt weighted average effective rate	1.40%	1.19%
Held by Freddie Mac | Medium-term notes
Short-term Debt [Abstract]
Other short-term debt par value	$ 17,612	$ 17,792
Other short-term debt carrying amount	$ 17,612	$ 17,792
Other short-term debt weighted average effective rate	1.12%	1.03%
Held by Freddie Mac | Securities Sold under Agreements to Repurchase
Short-term Debt [Abstract]
Other short-term debt par value	$ 9,745	$ 9,681
Other short-term debt carrying amount	$ 9,745	$ 9,681
Other short-term debt weighted average effective rate	1.38%	1.06%

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 38	$ 43

Derivatives - Derivative Assets

Derivatives - Derivative Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional or contractual amount	$ 1,002,842	$ 1,010,300
Derivative interest receivable	836	1,407
Netting adjustments to derivative assets	(7,179)	(9,870)
Derivative Assets, net	454	375
Derivative interest payable	(941)	(1,596)
Netting adjustments to derivative liabilities	5,738	8,816
Derivative liabilities, net	(345)	(269)
Commitments
Derivative [Line Items]
Derivative assets at fair value	105	44
Other
Derivative [Line Items]
Derivative Assets, net	132	52
Derivative liabilities, net	(279)	(129)
Not Designated as Hedging Instrument, Economic Hedge
Derivative [Line Items]
Notional or contractual amount	840,003	857,546
Derivative assets at fair value	6,520	7,448
Derivative liabilities at fair value	(1,236)	(6,484)
Not Designated as Hedging Instrument, Economic Hedge | CDX swaption
Derivative [Line Items]
Notional or contractual amount	4,400	13,400
Derivative assets at fair value	3.5	5
Not Designated as Hedging Instrument, Economic Hedge | Interest Rate Swaps
Derivative [Line Items]
Notional or contractual amount	388,183	404,361
Derivative assets at fair value	2,207	2,872
Derivative liabilities at fair value	(857)	(6,234)
Not Designated as Hedging Instrument, Economic Hedge | Receive-fixed
Derivative [Line Items]
Notional or contractual amount	186,581	213,717
Derivative assets at fair value	1,517	2,121
Derivative liabilities at fair value	(361)	(1,224)
Not Designated as Hedging Instrument, Economic Hedge | Pay-fixed
Derivative [Line Items]
Notional or contractual amount	195,839	185,400
Derivative assets at fair value	690	751
Derivative liabilities at fair value	(496)	(5,008)
Not Designated as Hedging Instrument, Economic Hedge | Basis (floating to floating)
Derivative [Line Items]
Notional or contractual amount	5,763	5,244
Derivative assets at fair value	0	0
Derivative liabilities at fair value	0	(2)
Not Designated as Hedging Instrument, Economic Hedge | Option-based
Derivative [Line Items]
Notional or contractual amount	114,280	125,118
Derivative assets at fair value	4,181	4,524
Derivative liabilities at fair value	(100)	(121)
Not Designated as Hedging Instrument, Economic Hedge | Call swaptions | Purchased
Derivative [Line Items]
Notional or contractual amount	55,425	58,975
Derivative assets at fair value	2,066	2,709
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Call swaptions | Written
Derivative [Line Items]
Notional or contractual amount	4,400	4,650
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(86)	(101)
Not Designated as Hedging Instrument, Economic Hedge | Put swaptions | Purchased
Derivative [Line Items]
Notional or contractual amount	40,080	47,810
Derivative assets at fair value	1,446	1,058
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Put swaptions | Written
Derivative [Line Items]
Notional or contractual amount	3,750	3,000
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(14)	(20)
Not Designated as Hedging Instrument, Economic Hedge | Other option-based derivatives
Derivative [Line Items]
Notional or contractual amount	10,625	10,683
Derivative assets at fair value	669	757
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Futures
Derivative [Line Items]
Notional or contractual amount	250,445	267,385
Derivative assets at fair value	0	0
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Commitments
Derivative [Line Items]
Notional or contractual amount	77,875	54,207
Derivative assets at fair value	105	44
Derivative liabilities at fair value	(183)	(64)
Not Designated as Hedging Instrument, Economic Hedge | Credit derivatives
Derivative [Line Items]
Notional or contractual amount	4,651	3,569
Derivative assets at fair value	26	7
Derivative liabilities at fair value	(48)	(46)
Not Designated as Hedging Instrument, Economic Hedge | Other
Derivative [Line Items]
Notional or contractual amount	4,569	2,906
Derivative assets at fair value	1	1
Derivative liabilities at fair value	(48)	(19)
Designated as Hedging Instrument [Member] | Fair Value Hedging
Derivative [Line Items]
Notional or contractual amount	162,839	152,754
Derivative assets at fair value	277	1,390
Derivative liabilities at fair value	(3,906)	(1,005)
Designated as Hedging Instrument [Member] | Fair Value Hedging | Receive-fixed
Derivative [Line Items]
Notional or contractual amount	87,398	83,352
Derivative assets at fair value	0	2
Derivative liabilities at fair value	(1,318)	(714)
Designated as Hedging Instrument [Member] | Fair Value Hedging | Pay-fixed
Derivative [Line Items]
Notional or contractual amount	75,441	69,402
Derivative assets at fair value	277	1,388
Derivative liabilities at fair value	$ (2,588)	$ (291)

Derivatives - Gains and Losses

Derivatives - Gains and Losses on Derivatives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	$ 1,830	$ (302)
Accrual of periodic settlements
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(145)	(467)
Accrual of periodic settlements | Receive-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	222	445
Accrual of periodic settlements | Pay-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(368)	(912)
Accrual of periodic settlements | Other
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	1	0
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	1,514	673
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Receive-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(3,097)	(569)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Pay-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	4,641	1,242
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Basis (floating to floating)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(30)	0
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Option-based
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(455)	(430)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Call swaptions | Purchased
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(694)	(331)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Call swaptions | Written
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	27	3
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Put swaptions | Purchased
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	327	(97)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Put swaptions | Written
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(27)	18
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Other option-based derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(88)	(23)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Other Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	916	(78)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Futures
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	387	(115)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Commitments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	518	54
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Credit derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	14	(16)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Other
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	$ (3)	$ (1)

Derivatives Derivatives - Gains

Derivatives Derivatives - Gains and Losses on Fair Value Hedge (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Interest Income - Mortgage Loans	$ 15,951	$ 15,965
Interest Expense	(13,957)	(13,185)
Other Income (Loss)	121	415
Interest rate risk on held-for-investment mortgage loans | Interest income
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	1,687
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(1,973)
Interest accrual on fair value hedging derivatives for held-for-investment loans	(167)
Discontinued hedge related basis adjustment amortization	16	0
Interest rate risk on held-for-investment mortgage loans | Other income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments		65
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge		(26)
Interest rate risk on held-for-investment mortgage loans | Derivative Gain (Loss)
Derivative Instruments, Gain (Loss) [Line Items]
Interest accrual on fair value hedging derivatives for held-for-investment loans		$ (83)
Interest rate risk on debt | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(591)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	678
Interest accrual on fair value hedging derivatives for debt	(14)
Discontinued hedge related basis adjustment amortization	$ 0

Derivatives Derivatives - Cumul

Derivatives Derivatives - Cumulative Basis Adjustment on Fair Value Hedges (Details) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying amount mortgage loans held-for-investment hedged asset	$ 130,875	$ 128,140
Carrying amount debt hedged liability	(95,975)	(92,277)
Total basis adjustment cumulative amount for hedged asset	(1,731)	198
Total basis adjustment cumulative amount for hedged liability	756	79
Basis adjustment amount for hedged asset - discontinued hedge	(1,731)	198
Basis adjustment amount for hedged liability - discontinued hedge	$ (14)	$ (14)

Collateral and Offsetting of 73

Collateral and Offsetting of Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Offsetting Assets [Line Items]
Maximum loss after applying netting agreements and collateral	$ 338	$ 170
Commitments
Offsetting Assets [Line Items]
Total exposure on our commitments	105	44
OTC derivatives
Offsetting Assets [Line Items]
Maximum loss after applying netting agreements and collateral	33	$ 41
Cash pledged to us as collateral that was classified as restricted cash on BS	$ 2,200

Collateral and Offsetting of 74

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Assets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivative Assets:
Gross Amount Recognized	$ 7,633	$ 10,245
Counterparty netting	(5,366)	(7,765)
Cash Collateral netting	(1,813)	(2,105)
Derivative Assets, net	454	375
Gross Amount Not Offset in the Consolidated Balance Sheets	(116)	(205)
Net Amount	338	170
Securities purchased under agreements to resell:
Gross Amount Recognized	41,828	55,903
Counterparty netting	0	0
Net Amount Presented in the Consolidated Balance Sheets	41,828	55,903
Gross Amount Not Offset in the Consolidated Balance Sheets	(41,828)	(55,903)
Net Amount	0	0
Total:
Gross Amount Recognized	49,461	66,148
Counterparty netting	(5,366)	(7,765)
Cash collateral netting	(1,813)	(2,105)
Net Amount Presented in the Consolidated Balance Sheets	42,282	56,278
Gross Amount Not Offset in the Consolidated Balance Sheets	(41,944)	(56,108)
Net Amount	338	170
Other
Derivative Assets:
Gross Amount Recognized	132	52
Counterparty netting	0	0
Cash Collateral netting	0	0
Derivative Assets, net	132	52
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	132	52
OTC derivatives
Derivative Assets:
Gross Amount Recognized	7,490	7,648
Counterparty netting	(5,366)	(5,499)
Cash Collateral netting	(1,975)	(1,903)
Derivative Assets, net	149	246
Gross Amount Not Offset in the Consolidated Balance Sheets	(116)	(205)
Net Amount	33	41
Cleared and exchange-traded derivatives
Derivative Assets:
Gross Amount Recognized	11	2,545
Counterparty netting	0	(2,266)
Cash Collateral netting	162	(202)
Derivative Assets, net	173	77
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	173	77
Securities purchased under agreements to resell
Securities purchased under agreements to resell:
Cash Collateral Netting	0	0
Total:
Securities Held as Collateral, at Fair Value	27,000	34,800
Securities purchased under agreements to resell not executed with clearinghouse [Member]
Total:
Securities Held as Collateral, at Fair Value	$ 500	$ 3,400

Collateral and Offsetting of 75

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivative Liabilities:
Gross Amount Recognized	$ (6,083)	$ (9,085)
Counterparty netting	5,366	7,765
Cash collateral netting	372	1,051
Derivative liabilities, net	(345)	(269)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(345)	(269)
Securities Sold under Agreements to Repurchase [Abstract]
Gross Amount Recognized	(9,745)	(9,681)
Counterparty netting	0	0
Net Amount Presented in the Consolidated Balance Sheets	(9,745)	(9,681)
Gross Amount Not Offset in the Consolidated Balance Sheets	9,745	9,681
Net Amount	0	0
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract]
Gross Amount Recognized	(15,828)	(18,766)
Counterparty netting	5,366	7,765
Cash collateral netting	372	1,051
Net Amount Presented in the Consolidated Balance Sheets	(10,090)	(9,950)
Gross Amount Not Offset in the Consolidated Balance Sheets	9,745	9,681
Net Amount	(345)	(269)
Other
Derivative Liabilities:
Gross Amount Recognized	(279)	(129)
Counterparty netting	0	0
Cash collateral netting	0	0
Derivative liabilities, net	(279)	(129)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(279)	(129)
OTC derivatives
Derivative Liabilities:
Gross Amount Recognized	(5,797)	(6,285)
Counterparty netting	5,366	5,499
Cash collateral netting	365	688
Derivative liabilities, net	(66)	(98)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(66)	(98)
Cleared and exchange-traded derivatives
Derivative Liabilities:
Gross Amount Recognized	(7)	(2,671)
Counterparty netting	0	2,266
Cash collateral netting	7	363
Derivative liabilities, net	0	(42)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	0	(42)
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract]
Aggregate fair value of securities posted	3,100	3,100
Securities Sold under Agreements to Repurchase
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract]
Cash collateral netting	$ 0	$ 0

Collateral and Offsetting of 76

Collateral and Offsetting of Assets and Liabilities - Collateral in the Form of Securities Pledged (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	$ 12,322	$ 13,319
Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	3,161	3,141
Securities Sold under Agreements to Repurchase
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	8,954	9,705
Other
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	207	473
Debt securities of consolidated trusts
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	437	486
Debt securities of consolidated trusts | Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	395	375
Debt securities of consolidated trusts | Securities Sold under Agreements to Repurchase
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	0	0
Debt securities of consolidated trusts | Other
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	42	111
Trading securities
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	11,885	12,833
Trading securities | Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	2,766	2,766
Trading securities | Securities Sold under Agreements to Repurchase
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	8,954	9,705
Trading securities | Other
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	$ 165	$ 362

Collateral and Offsetting of 77

Collateral and Offsetting of Assets and Liabilities - Contractual Maturity of Collateral Pledged (Details) - Securities Sold under Agreements to Repurchase $ in Millions	Mar. 31, 2018USD ($)
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities	$ 8,954
Overnight and continuous
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities	0
30 days or less
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities	8,954
After 30 days through 90 days
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities	0
Greater than 90 days
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities	$ 0

Stockholders' Equity and Earn78

Stockholders' Equity and Earnings per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Federal statutory tax rate	21.00%	35.00%
Total AOCI related to derivatives designated as cash flow hedges	$ (399,000,000)	$ (500,000,000)	$ (356,000,000)
Cash flow hedge gain (loss) to be reclassified over the next 12 months	$ (97,000,000)
Maximum remaining length of time hedged in cash flow hedge	16 years
Expected draw request from Treasury	$ 0
Senior preferred stock, at redemption value	75,648,000,000		75,336,000,000
GAAP net worth (deficit)	2,150,000,000		$ (312,000,000)
Applicable capital reserve amount	3,000,000,000
Common dividends declared	0
Cash dividends paid on senior preferred stock	0	$ 4,475,000,000
Common shares or non-cumulative preferred stock repurchased	0
Common shares or non-cumulative preferred stock issued	0
Dividends declared on preferred stock	0
Dividends paid on preferred stock	$ 0

Stockholders' Equity and Earn79

Stockholders' Equity and Earnings per Share - Changes in AOCI by Component, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (312)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(776)	$ 23
Ending balance	2,150
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	389	456
Other comprehensive income (loss) before reclassifications	(490)	109
Amounts reclassified from accumulated other comprehensive income	(286)	(86)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(776)	23
Cumulative effect of change in accounting principle	89
Ending balance	(298)	479
AOCI related to available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	662	915
Other comprehensive income (loss) before reclassifications	(488)	112
Amounts reclassified from accumulated other comprehensive income	(312)	(114)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(800)	(2)
Cumulative effect of change in accounting principle	143
Ending balance	5	913
Tax expense related to AFS - other comprehensive income before reclassifications	(100)	100
AOCI related to cash flow hedge relationships
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(356)	(480)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	30	28
Total other comprehensive income (loss), net of taxes and reclassification adjustments	30	28
Cumulative effect of change in accounting principle	(73)
Ending balance	(399)	(452)
AOCI related to defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	83	21
Other comprehensive income (loss) before reclassifications	(2)	(3)
Amounts reclassified from accumulated other comprehensive income	(4)	0
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(6)	(3)
Cumulative effect of change in accounting principle	19
Ending balance	$ 96	$ 18

Stockholders' Equity and Earn80

Stockholders' Equity and Earnings per Share - Reclassifications from AOCI to Net Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Other gains (losses) on investment securities recognized in earnings	$ (232)	$ 56
Net impairment of available-for-sale securities recognized in earnings	0	(13)
Interest expense	(13,957)	(13,185)
Salaries and employee benefits	(286)	(275)
Income before income tax (expense) benefit	3,674	3,321
Income tax (expense) benefit	(748)	(1,110)
Net income (loss)	2,926	2,211
Held by Freddie Mac
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Interest expense	(1,443)	(1,464)
Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	286	86
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	395	190
Net impairment of available-for-sale securities recognized in earnings	0	(13)
Income before income tax (expense) benefit	395	177
Income tax (expense) benefit	(83)	(63)
Net income (loss)	312	114
AOCI related to cash flow hedge relationships | Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) benefit	8	15
Net income (loss)	(30)	(28)
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	(38)	(43)
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	5	0
Income tax (expense) benefit	(1)	0
Net income (loss)	$ 4	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 748,000,000	$ 1,110,000,000
Effective Tax Rate	20.40%	33.40%
Federal statutory tax rate	21.00%	35.00%
Deferred Tax Assets, Net	$ 8,300,000,000		$ 8,100,000,000
Unrecognized Tax Benefits	0
Deferred Tax Assets, Valuation Allowance	$ 33,000,000

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended
	Mar. 31, 2018
Segment Reporting Information [Line Items]
Number of reportable segments	3

Segment Reporting - Summary of

Segment Reporting - Summary of Segment Earnings and Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Net income (loss)	$ 2,926	$ 2,211
Comprehensive income (loss)	2,150	2,234
All Other
Segment Reporting Information [Line Items]
Net income (loss)	0	0
Comprehensive income (loss)	0	0
Single-family Guarantee | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	702	710
Comprehensive income (loss)	698	708
Multifamily | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	472	449
Comprehensive income (loss)	404	445
Capital Markets | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	1,752	1,052
Comprehensive income (loss)	1,048	1,081
Operating segments and All Other
Segment Reporting Information [Line Items]
Net income (loss)	2,926	2,211
Comprehensive income (loss)	$ 2,150	$ 2,234

Segment Reporting - Segment Ear

Segment Reporting - Segment Earnings and Reconciliation to GAAP Results (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	$ 3,018	$ 3,795
Guarantee fee income	194	149
Benefit (provision) for credit losses	(63)	116
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	0	(13)
Derivative gains (losses)	1,830	(302)
Gains (losses) on trading securities	(627)	(134)
Gains (losses) on loans	(320)	14
Other non-interest income (loss)	752	660
Non-interest expense
Administrative expenses	(520)	(511)
Real estate owned operations expense	(34)	(56)
OtherNonInterestExpenseIncomeIncludesAdjustments	(556)	(397)
Income tax (expense) benefit	(748)	(1,110)
Net income (loss)	2,926	2,211
Changes in unrealized gains (losses) related to available-for-sale securities	(800)	(2)
Changes in unrealized gains (losses) related to cash flow hedge relationships	30	28
Changes in defined benefit plans	(6)	(3)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(776)	23
Comprehensive income (loss)	2,150	2,234
All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	0	0
Guarantee fee income	0	0
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 loans	0	0
Other non-interest income (loss)	0	0
Non-interest expense
Administrative expenses	0	0
Real estate owned operations expense	0	0
OtherNonInterestExpenseIncomeIncludesAdjustments	0	0
Income tax (expense) benefit	0	0
Net income (loss)	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
Reclassifications
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	1,930	2,595
Guarantee fee income	(1,514)	(1,420)
Benefit (provision) for credit losses	(107)	71
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	(111)	(82)
Derivative gains (losses)	(121)	(466)
Gains (losses) on trading securities	0	0
Gains (losses) on loans	131	47
Other non-interest income (loss)	(55)	(694)
Non-interest expense
Administrative expenses	0	0
Real estate owned operations expense	4	3
OtherNonInterestExpenseIncomeIncludesAdjustments	(157)	(54)
Income tax (expense) benefit	0	0
Net income (loss)	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	0	0
Guarantee fee income	1,513	1,418
Benefit (provision) for credit losses	28	39
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	0	0
Derivative gains (losses)	(6)	(15)
Gains (losses) on trading securities	0	0
Gains (losses) on loans	0	0
Other non-interest income (loss)	100	334
Non-interest expense
Administrative expenses	(336)	(333)
Real estate owned operations expense	(39)	(59)
OtherNonInterestExpenseIncomeIncludesAdjustments	(379)	(318)
Income tax (expense) benefit	(179)	(356)
Net income (loss)	702	710
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	(4)	(2)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(4)	(2)
Comprehensive income (loss)	698	708
Multifamily | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	271	271
Guarantee fee income	195	151
Benefit (provision) for credit losses	16	6
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	0	(4)
Derivative gains (losses)	655	127
Gains (losses) on trading securities	(156)	1
Gains (losses) on loans	(451)	(33)
Other non-interest income (loss)	177	272
Non-interest expense
Administrative expenses	(100)	(95)
Real estate owned operations expense	0	0
OtherNonInterestExpenseIncomeIncludesAdjustments	(14)	(21)
Income tax (expense) benefit	(121)	(226)
Net income (loss)	472	449
Changes in unrealized gains (losses) related to available-for-sale securities	(67)	(4)
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	(1)	0
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(68)	(4)
Comprehensive income (loss)	404	445
Capital Markets | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	817	929
Guarantee fee income	0	0
Benefit (provision) for credit losses	0	0
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	111	73
Derivative gains (losses)	1,302	52
Gains (losses) on trading securities	(471)	(135)
Gains (losses) on loans	0	0
Other non-interest income (loss)	530	748
Non-interest expense
Administrative expenses	(84)	(83)
Real estate owned operations expense	1	0
OtherNonInterestExpenseIncomeIncludesAdjustments	(6)	(4)
Income tax (expense) benefit	(448)	(528)
Net income (loss)	1,752	1,052
Changes in unrealized gains (losses) related to available-for-sale securities	(733)	2
Changes in unrealized gains (losses) related to cash flow hedge relationships	30	28
Changes in defined benefit plans	(1)	(1)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(704)	29
Comprehensive income (loss)	1,048	1,081
Operating segments and All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest Income (Expense), Net	1,088	1,200
Guarantee fee income	1,708	1,569
Benefit (provision) for credit losses	44	45
Non-interest income (loss)
Net impairment of available-for-sale securities recognized in earnings	111	69
Derivative gains (losses)	1,951	164
Gains (losses) on trading securities	(627)	(134)
Gains (losses) on loans	(451)	(33)
Other non-interest income (loss)	807	1,354
Non-interest expense
Administrative expenses	(520)	(511)
Real estate owned operations expense	(38)	(59)
OtherNonInterestExpenseIncomeIncludesAdjustments	(399)	(343)
Income tax (expense) benefit	(748)	(1,110)
Net income (loss)	2,926	2,211
Changes in unrealized gains (losses) related to available-for-sale securities	(800)	(2)
Changes in unrealized gains (losses) related to cash flow hedge relationships	30	28
Changes in defined benefit plans	(6)	(3)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(776)	23
Comprehensive income (loss)	$ 2,150	$ 2,234

Concentration of Credit and O85

Concentration of Credit and Other Risks (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Concentration Risk [Line Items]
Unpaid principal balance related to single-family credit guarantee portfolio	$ 1,800,000		$ 1,800,000
Securities purchased under agreements to resell used to provide financing to investors	$ 561		$ 239
Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage	100.00%		100.00%
Top five non-depository seller | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	22.00%	18.00%
Five largest non-depository servicers | Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage	16.00%		15.00%
Mortgage Insurers
Concentration Risk [Line Items]
Unpaid principal balance of single family credit guarantee portfolio With mortgage insurance coverage	$ 338,500
Credit protection coverage from mortgage insurers for single family credit guarantee portfolio	86,700
Cash proceeds received from mortgage insurers	100	$ 100
Receivables outstanding from mortgage Insurers	100		$ 100
Receivables outstanding, net of reserves, from mortgage insurers	100		100
Amount of cumulative unpaid deferred payment obligation	500		500
Cash And Other Investment Counterparties
Concentration Risk [Line Items]
Cash and other non-mortgage investments	$ 69,900		$ 89,300

Concentration of Credit and O86

Concentration of Credit and Other Risks - Concentration of Credit Risk - Single-Family Credit Guarantee Portfolio (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Concentration Risk [Line Items]
Serious delinquency rate	0.97%		1.08%
West
Concentration Risk [Line Items]
Serious delinquency rate	0.43%		0.47%
Northeast
Concentration Risk [Line Items]
Serious delinquency rate	1.13%		1.24%
North Central
Concentration Risk [Line Items]
Serious delinquency rate	0.73%		0.81%
Southeast
Concentration Risk [Line Items]
Serious delinquency rate	1.79%		1.95%
Southwest
Concentration Risk [Line Items]
Serious delinquency rate	0.83%		0.98%
NEW JERSEY
Concentration Risk [Line Items]
Serious delinquency rate	1.56%		1.78%
CALIFORNIA
Concentration Risk [Line Items]
Serious delinquency rate	0.38%		0.41%
FLORIDA
Concentration Risk [Line Items]
Serious delinquency rate	3.02%		3.33%
NEW YORK
Concentration Risk [Line Items]
Serious delinquency rate	1.62%		1.74%
ILLINOIS
Concentration Risk [Line Items]
Serious delinquency rate	1.03%		1.13%
All Other
Concentration Risk [Line Items]
Serious delinquency rate	0.81%		0.91%
Core single-family loan portfolio
Concentration Risk [Line Items]
Serious delinquency rate	0.32%		0.35%
Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Serious delinquency rate	2.41%		2.59%
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	31.00%		30.00%
Single-family UPB | Northeast
Concentration Risk [Line Items]
Concentration risk percentage	24.00%		25.00%
Single-family UPB | North Central
Concentration Risk [Line Items]
Concentration risk percentage	16.00%		16.00%
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	13.00%		13.00%
Single-family UPB | NEW JERSEY
Concentration Risk [Line Items]
Concentration risk percentage	3.00%		3.00%
Single-family UPB | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk percentage	18.00%		18.00%
Single-family UPB | FLORIDA
Concentration Risk [Line Items]
Concentration risk percentage	6.00%		6.00%
Single-family UPB | NEW YORK
Concentration Risk [Line Items]
Concentration risk percentage	5.00%		5.00%
Single-family UPB | ILLINOIS
Concentration Risk [Line Items]
Concentration risk percentage	5.00%		5.00%
Single-family UPB | All Other
Concentration Risk [Line Items]
Concentration risk percentage	63.00%		63.00%
Single-family UPB | Core single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	79.00%		78.00%
Single-family UPB | Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	21.00%		22.00%
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	17.00%	31.00%
Single-family Credit Losses | Northeast
Concentration Risk [Line Items]
Concentration risk percentage	41.00%	32.00%
Single-family Credit Losses | North Central
Concentration Risk [Line Items]
Concentration risk percentage	19.00%	17.00%
Single-family Credit Losses | Southeast
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	17.00%
Single-family Credit Losses | Southwest
Concentration Risk [Line Items]
Concentration risk percentage	5.00%	3.00%
Single-family Credit Losses | NEW JERSEY
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	10.00%
Single-family Credit Losses | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	23.00%
Single-family Credit Losses | FLORIDA
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	11.00%
Single-family Credit Losses | NEW YORK
Concentration Risk [Line Items]
Concentration risk percentage	9.00%	6.00%
Single-family Credit Losses | ILLINOIS
Concentration Risk [Line Items]
Concentration risk percentage	9.00%	9.00%
Single-family Credit Losses | All Other
Concentration Risk [Line Items]
Concentration risk percentage	46.00%	41.00%
Single-family Credit Losses | Core single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	6.00%	3.00%
Single-family Credit Losses | Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	94.00%	97.00%

Concentration of Credit and O87

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, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Serious delinquency rate	0.97%	1.08%
Interest-only
Concentration Risk [Line Items]
Serious delinquency rate	4.61%	4.97%
Alt-A
Concentration Risk [Line Items]
Serious delinquency rate	5.40%	5.62%
Original LTV ratio greater than 90%
Concentration Risk [Line Items]
Serious delinquency rate	1.51%	1.70%
Lower credit scores at origination (less than 620)
Concentration Risk [Line Items]
Serious delinquency rate	5.74%	6.34%
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	1.00%	1.00%
Single-family UPB | Original LTV ratio greater than 90%
Concentration Risk [Line Items]
Percentage of Portfolio	17.00%	17.00%
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 O88

Concentration of Credit and Other Risks - Seller Concentration (Details)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Top ten Single-family sellers | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	51.00%	56.00%
Wells Fargo Bank, N.A. | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	18.00%
Other top 10 sellers | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	36.00%	38.00%
Top ten multifamily sellers | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	79.00%	82.00%
CBRE Capital Markets, Inc. | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	15.00%
Walker & Dunlop, LLC | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	8.00%
Berkadia Commercial Mortgage LLC | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	11.00%	15.00%
Holliday Fenoglio Fowler, L.P. | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	12.00%
Other top 10 sellers | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	32.00%	32.00%

Concentration of Credit and O89

Concentration of Credit and Other Risks - Servicer Concentration (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Single-family loan serviced | Top ten Single-family servicers
Concentration Risk [Line Items]
Concentration risk percentage	58.00%	58.00%
Single-family loan serviced | Wells Fargo Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	18.00%
Single-family loan serviced | Other top 10 sellers
Concentration Risk [Line Items]
Concentration risk percentage	40.00%	40.00%
Multifamily loan serviced | Top ten multifamily servicers
Concentration Risk [Line Items]
Concentration risk percentage	74.00%	75.00%
Multifamily loan serviced | Wells Fargo Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	16.00%
Multifamily loan serviced | Berkadia Commercial Mortgage LLC
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	11.00%
Multifamily loan serviced | CBRE Capital Markets, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	9.00%	12.00%
Multifamily loan serviced | Other top 10 servicers
Concentration Risk [Line Items]
Concentration risk percentage	37.00%	36.00%

Concentration of Credit and O90

Concentration of Credit and Other Risks - Mortgage Insurer Concentration (Details) - Mortgage insurance coverage	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Arch Mortgage Insurance Company
Concentration Risk [Line Items]
Concentration risk percentage	24.00%	24.00%
Radian Guaranty Inc.
Concentration Risk [Line Items]
Concentration risk percentage	21.00%	21.00%
Mortgage Guaranty Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	19.00%	19.00%
Genworth Mortgage Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	15.00%
Essent Guaranty, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	12.00%
Total
Concentration Risk [Line Items]
Concentration risk percentage	91.00%	91.00%

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($) $ in Billions	Mar. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Decrease (Increase) Of Fair Value Of Mortgage Loans Without Benefits Reflected In The Pricing Of HARP Loans	$ 1.8	$ 2.1
Total Fair Value Of The HARP Loans	$ 24.8	$ 30.2

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, 2018	Dec. 31, 2017
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	$ 15,832	$ 20,054
Derivative Assets Net [Abstract]
Derivative Assets, net	454	375
Other Assets [Abstract]
Total Other Assets	3,502	3,353
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	5,617	5,799
Derivative Liabilities Net [Abstract]
Derivative Liabilities	345	269
Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	638	639
Other
Derivative Assets Net [Abstract]
Derivative Assets, net	132	52
Derivative Liabilities Net [Abstract]
Derivative Liabilities	279	129
Fair Value, Measurements, Recurring
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	39,295	43,597
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	36,206	40,721
Total investments in securities	75,501	84,318
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	15,832	20,054
Derivative Assets Net [Abstract]
Derivative assets at fair value	6,797	8,838
Netting Adjustment	(6,343)	(8,463)
Derivative Assets, net	454	375
Other Assets [Abstract]
Guarantee Assets	3,285	3,171
Non-derivative held-for-sale purchase commitments, at fair value	129	137
All Other Assets Fair Value Disclosure	88	45
Total Other Assets	3,502	3,353
Total Assets at Fair value	95,289	108,100
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	5,142	7,489
Netting Adjustment	(4,797)	(7,220)
Derivative Liabilities	345	269
Non Derivative HFS Purchase Commitment Liabilities	19	4
Total liabilities carried at fair value on a recurring basis	5,981	6,072
Fair Value, Measurements, Recurring | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	638	639
Fair Value, Measurements, Recurring | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	4,979	5,160
Fair Value, Measurements, Recurring | Interest-rate swaps
Derivative Assets Net [Abstract]
Derivative assets at fair value	2,484	4,262
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	4,763	7,239
Fair Value, Measurements, Recurring | Option-based derivatives
Derivative Assets Net [Abstract]
Derivative assets at fair value	4,181	4,524
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	100	121
Fair Value, Measurements, Recurring | Other
Derivative Assets Net [Abstract]
Derivative assets at fair value	132	52
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	279	129
Fair Value, Measurements, Recurring | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	17,644	17,902
Fair Value, Measurements, Recurring | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	33,063	35,470
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	12,617	12,235
Fair Value, Measurements, Recurring | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,830	2,053
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,425	3,574
Fair Value, Measurements, Recurring | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,363	3,933
Fair Value, Measurements, Recurring | Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,712	1,784
Fair Value, Measurements, Recurring | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	327	357
Fair Value, Measurements, Recurring | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,602	2,093
Fair Value, Measurements, Recurring | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	18,562	22,819
Fair Value, Measurements, Recurring | Level 1
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	15,713	20,159
Total investments in securities	15,713	20,159
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Assets, net	0	0
Other Assets [Abstract]
Guarantee Assets	0	0
Non-derivative held-for-sale purchase commitments, at fair value	0	0
All Other Assets Fair Value Disclosure	0	0
Total Other Assets	0	0
Total Assets at Fair value	15,713	20,159
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Derivative Liabilities	0	0
Non Derivative HFS Purchase Commitment Liabilities	0	0
Total liabilities carried at fair value on a recurring basis	0	0
Fair Value, Measurements, Recurring | Level 1 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Interest-rate swaps
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Option-based derivatives
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Other
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value		0
Fair Value, Measurements, Recurring | Level 1 | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring | Level 1 | 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 | Level 1 | Other agency
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 | Level 1 | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring | Level 1 | Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring | Level 1 | 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 | Level 1 | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring | Level 1 | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	15,713	20,159
Fair Value, Measurements, Recurring | Level 2
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	29,791	32,509
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	17,445	17,645
Total investments in securities	47,236	50,154
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	15,832	20,054
Derivative Assets Net [Abstract]
Derivative assets at fair value	6,770	8,830
Derivative Assets, net	6,770	8,830
Other Assets [Abstract]
Guarantee Assets	0	0
Non-derivative held-for-sale purchase commitments, at fair value	129	137
All Other Assets Fair Value Disclosure	0	0
Total Other Assets	129	137
Total Assets at Fair value	69,967	79,175
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	5,075	7,424
Derivative Liabilities	5,075	7,424
Non Derivative HFS Purchase Commitment Liabilities	19	4
Total liabilities carried at fair value on a recurring basis	9,947	12,460
Fair Value, Measurements, Recurring | Level 2 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	9	9
Fair Value, Measurements, Recurring | Level 2 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	4,844	5,023
Fair Value, Measurements, Recurring | Level 2 | Interest-rate swaps
Derivative Assets Net [Abstract]
Derivative assets at fair value	2,484	4,262
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	4,763	7,239
Fair Value, Measurements, Recurring | Level 2 | Option-based derivatives
Derivative Assets Net [Abstract]
Derivative assets at fair value	4,181	4,524
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	100	121
Fair Value, Measurements, Recurring | Level 2 | Other
Derivative Assets Net [Abstract]
Derivative assets at fair value	105	44
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	212	64
Fair Value, Measurements, Recurring | Level 2 | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	14,596	14,985
Fair Value, Measurements, Recurring | Level 2 | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	27,936	30,415
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	11,161	11,393
Fair Value, Measurements, Recurring | Level 2 | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,786	2,007
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,416	3,565
Fair Value, Measurements, Recurring | Level 2 | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring | Level 2 | Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	69	87
Fair Value, Measurements, Recurring | Level 2 | 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 | Level 2 | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	19	27
Fair Value, Measurements, Recurring | Level 2 | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	2,849	2,660
Fair Value, Measurements, Recurring | Level 3
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	9,504	11,088
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,048	2,917
Total investments in securities	12,552	14,005
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative assets at fair value	27	8
Derivative Assets, net	27	8
Other Assets [Abstract]
Guarantee Assets	3,285	3,171
Non-derivative held-for-sale purchase commitments, at fair value	0	0
All Other Assets Fair Value Disclosure	88	45
Total Other Assets	3,373	3,216
Total Assets at Fair value	15,952	17,229
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	67	65
Derivative Liabilities	67	65
Non Derivative HFS Purchase Commitment Liabilities	0	0
Total liabilities carried at fair value on a recurring basis	831	832
Fair Value, Measurements, Recurring | Level 3 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	629	630
Fair Value, Measurements, Recurring | Level 3 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	135	137
Fair Value, Measurements, Recurring | Level 3 | Interest-rate swaps
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Option-based derivatives
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Other
Derivative Assets Net [Abstract]
Derivative assets at fair value	27	8
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	67	65
Fair Value, Measurements, Recurring | Level 3 | Mortage-related securities
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	9,504	11,088
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,048	2,917
Total investments in securities	12,552	14,005
Fair Value, Measurements, Recurring | Level 3 | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	5,127	5,055
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,456	842
Fair Value, Measurements, Recurring | Level 3 | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	44	46
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	9	9
Fair Value, Measurements, Recurring | Level 3 | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,363	3,933
Fair Value, Measurements, Recurring | Level 3 | Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,643	1,697
Fair Value, Measurements, Recurring | Level 3 | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	327	357
Fair Value, Measurements, Recurring | Level 3 | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,583	2,066
Fair Value, Measurements, Recurring | Level 3 | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	$ 0	$ 0

Fair Value Disclosures - Asse93

Fair Value Disclosures - Assets on Our Consolidated Balance Sheets Measured at Fair Value on a Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 5,777	$ 6,693
Level 1
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	0	0
Level 2
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	61	494
Level 3
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 5,716	$ 6,199

Fair Value Disclosures - Asse94

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, 2018	Mar. 31, 2017
Debt | Held by consolidated trusts
Liabilities:
Begining Balance	$ 630	$ 0
Included in Earnings	(1)	0
Included in Other Comprehensive Income	0	0
Total realized and unrealized (gains) losses	(1)	0
Purchases	0	0
Issues	0	530
Sales	0	0
Settlements, Net	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	629	530
Unrealized (Gains) Losses Still Held - Liabilities	(1)	0
Debt | Held by Freddie Mac
Liabilities:
Begining Balance	137	95
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	(2)	(1)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	135	94
Unrealized (Gains) Losses Still Held - Liabilities	0	0
Net Derivatives
Net Derivative Liability
Beginning Balance	57	50
Included in Earnings	9	21
Included in Other Comprehensive Income	0	0
Total realized and unrealized (gains) losses	9	21
Purchases	0	0
Issues	(22)	1
Sales	0	0
Settlements, Net	(4)	(11)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	40	61
Unrealized (Gains) Losses Still Held - Net Derivative Liability	6	13
All Other Liabilities
Liabilities:
Begining Balance		(2)
Included in Earnings		2
Included in Other Comprehensive Income		0
Total realized and unrealized (gains) losses		2
Purchases		10
Issues		0
Sales		0
Settlements, Net		0
Transfers into Level 3		0
Transfers out of Level 3		0
Ending Balance		10
Unrealized (Gains) Losses Still Held - Liabilities		2
Available-for-sale securities
Assets:
Beginning Balance	11,088	25,741
Included in Earnings	443	276
Included in Other Comprehensive Income	(605)	(75)
Total realized and unrealized gains (losses)	(162)	201
Purchases	433	647
Issues	0	0
Sales	(1,467)	(2,916)
Settlements, net	(388)	(923)
Transfers into Level 3	0	17
Transfers out of Level 3	0	(3,096)
Ending Balance	9,504	19,671
Unrealized Gains (Losses) Still Held - Assets	11	64
Available-for-sale securities | Freddie Mac
Assets:
Beginning Balance	5,055	9,847
Included in Earnings	(3)	(2)
Included in Other Comprehensive Income	(105)	21
Total realized and unrealized gains (losses)	(108)	19
Purchases	433	647
Issues	0	0
Sales	0	(699)
Settlements, net	(253)	(316)
Transfers into Level 3	0	17
Transfers out of Level 3	0	(3,096)
Ending Balance	5,127	6,419
Unrealized Gains (Losses) Still Held - Assets	(3)	(6)
Available-for-sale securities | Other agency
Assets:
Beginning Balance	46	66
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	(2)	(4)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	44	62
Unrealized Gains (Losses) Still Held - Assets	0	0
Available-for-sale securities | Non-agency RMBS
Assets:
Beginning Balance	3,933	11,797
Included in Earnings	448	277
Included in Other Comprehensive Income	(451)	(98)
Total realized and unrealized gains (losses)	(3)	179
Purchases	0	0
Issues	0	0
Sales	(1,467)	(2,217)
Settlements, net	(100)	(489)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	2,363	9,270
Unrealized Gains (Losses) Still Held - Assets	16	69
Available-for-sale securities | Non-agency CMBS
Assets:
Beginning Balance	1,697	3,366
Included in Earnings	(2)	1
Included in Other Comprehensive Income	(47)	2
Total realized and unrealized gains (losses)	(49)	3
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	(5)	(9)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1,643	3,360
Unrealized Gains (Losses) Still Held - Assets	(2)	1
Available-for-sale securities | Obligations of states and political subdivisions
Assets:
Beginning Balance	357	665
Included in Earnings	0	0
Included in Other Comprehensive Income	(2)	0
Total realized and unrealized gains (losses)	(2)	0
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	(28)	(105)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	327	560
Unrealized Gains (Losses) Still Held - Assets	0	0
Trading securities
Assets:
Beginning Balance	2,917	1,220
Included in Earnings	(124)	(48)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(124)	(48)
Purchases	817	103
Issues	0	0
Sales	(455)	(592)
Settlements, net	(21)	(13)
Transfers into Level 3	0	154
Transfers out of Level 3	(86)	(152)
Ending Balance	3,048	672
Unrealized Gains (Losses) Still Held - Assets	(111)	(42)
Trading securities | Freddie Mac
Assets:
Beginning Balance	842	1,095
Included in Earnings	(77)	(47)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(77)	(47)
Purchases	817	103
Issues	0	0
Sales	(35)	(592)
Settlements, net	(5)	(9)
Transfers into Level 3	0	154
Transfers out of Level 3	(86)	(152)
Ending Balance	1,456	552
Unrealized Gains (Losses) Still Held - Assets	(73)	(41)
Trading securities | Other agency
Assets:
Beginning Balance	9	12
Included in Earnings	0	(1)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	0	(1)
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	9	11
Unrealized Gains (Losses) Still Held - Assets	0	(1)
Trading securities | All other
Assets:
Beginning Balance	2,066	113
Included in Earnings	(47)	0
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(47)	0
Purchases	0	0
Issues	0	0
Sales	(420)	0
Settlements, net	(16)	(4)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1,583	109
Unrealized Gains (Losses) Still Held - Assets	(38)	0
Other Asset [Member]
Assets:
Beginning Balance	3,216	2,299
Included in Earnings	22	(7)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	22	(7)
Purchases	43	0
Issues	244	164
Sales	(15)	0
Settlements, net	(137)	(116)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	3,373	2,340
Unrealized Gains (Losses) Still Held - Assets	19	(7)
All Other, at fair value
Assets:
Beginning Balance	45	0
Included in Earnings	6	0
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	6	0
Purchases	43	0
Issues	9	0
Sales	(15)	0
Settlements, net	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	88	0
Unrealized Gains (Losses) Still Held - Assets	3	0
Guarantee Asset
Assets:
Beginning Balance	3,171	2,299
Included in Earnings	16	(7)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	16	(7)
Purchases	0	0
Issues	235	164
Sales	0	0
Settlements, net	(137)	(116)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	3,285	2,340
Unrealized Gains (Losses) Still Held - Assets	$ 16	$ (7)

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) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Liabilities [Abstract]
Debt instrument recorded at fair value	$ 5,617	$ 5,799
Held by consolidated trusts
Liabilities [Abstract]
Debt instrument recorded at fair value	638	639
Fair Value, Measurements, Recurring
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	39,295	43,597
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	36,206	40,721
Investments, Fair Value Disclosure	75,501	84,318
Other assets:
Guarantee Assets Fair Value Disclosure	3,285	3,171
All Other Assets Fair Value Disclosure	88	45
Fair Value, Measurements, Recurring | Held by consolidated trusts
Liabilities [Abstract]
Debt instrument recorded at fair value	638	639
Fair Value, Measurements, Recurring | Held by Freddie Mac
Liabilities [Abstract]
Debt instrument recorded at fair value	4,979	5,160
Fair Value, Measurements, Recurring | Mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	17,644	17,902
Fair Value, Measurements, Recurring | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	33,063	35,470
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	12,617	12,235
Fair Value, Measurements, Recurring | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,363	3,933
Fair Value, Measurements, Recurring | Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,712	1,784
Fair Value, Measurements, Recurring | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	327	357
Fair Value, Measurements, Recurring | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,830	2,053
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,425	3,574
Fair Value, Measurements, Recurring | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,602	2,093
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	9,504	11,088
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,048	2,917
Investments, Fair Value Disclosure	12,552	14,005
Other assets:
Guarantee Assets Fair Value Disclosure	3,285	3,171
All Other Assets Fair Value Disclosure	88	45
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by consolidated trusts
Liabilities [Abstract]
Debt instrument recorded at fair value	629	630
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Single External Source
Liabilities [Abstract]
Debt instrument recorded at fair value	$ 629	$ 630
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Weighted Average | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	100	100.1
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by Freddie Mac
Liabilities [Abstract]
Debt instrument recorded at fair value	$ 135	$ 137
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by Freddie Mac | Other
Liabilities [Abstract]
Debt instrument recorded at fair value	135	137
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Mortgage-related securities
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	9,504	11,088
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,048	2,917
Investments, Fair Value Disclosure	12,552	14,005
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	5,127	5,055
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,456	842
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Freddie Mac | Risk Metrics
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,168	243
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Freddie Mac | Discounted Cash Flows
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	4,950	4,873
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure		582
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Freddie Mac | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	177	182
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	288	17
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,363	3,933
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency RMBS | Median of external sources
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,148	3,665
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency RMBS | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	215	268
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,643	1,697
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency CMBS | Single External Source
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,643	1,696
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency CMBS | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure		1
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	327	357
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Obligations of states and political subdivisions | Median of external sources
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	306	334
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Obligations of states and political subdivisions | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	21	23
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	44	46
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	9	9
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Other agency | Other
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	44	46
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	9	9
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,583	2,066
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | All other | Single External Source
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,582	2,065
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | All other | Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	$ 1	$ 1
Fair Value, Measurements, Recurring | Debt | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Minimum | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	97.8	99.2
Fair Value, Measurements, Recurring | Debt | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Maximum | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	100.5	100.2
Fair Value, Measurements, Recurring | Derivatives | Fair Value, Inputs, Level 3 | Other
Liabilities [Abstract]
Net Derivative Liability (Asset)	$ 40	$ 57
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Weighted Average | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS	0.72%	0.68%
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Minimum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS	0.21%	0.27%
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Maximum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS	3.25%	5.01%
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency RMBS | Weighted Average | Median of external sources
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	73.8	77.7
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency RMBS | Minimum | Median of external sources
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	71.2	75.6
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency RMBS | Maximum | Median of external sources
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	77.6	80.8
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency CMBS | Weighted Average | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	105.6	108.7
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency CMBS | Minimum | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	105	108.4
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency CMBS | Maximum | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	106	108.9
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Obligations of states and political subdivisions | Weighted Average | Median of external sources
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	100.9	101.4
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Obligations of states and political subdivisions | Minimum | Median of external sources
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	100.6	101.2
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Obligations of states and political subdivisions | Maximum | Median of external sources
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	101.2	101.6
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Weighted Average | Risk Metrics
Fair Value Inputs, Quantitative Information [Abstract]
Effective Duration	6 years 8 months 12 days	11 years 9 months 4 days
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Weighted Average | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS		(0.88%)
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Minimum | Risk Metrics
Fair Value Inputs, Quantitative Information [Abstract]
Effective Duration		0 years
EffectiveDurationPastYears	12 years 9 months 26 days
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Minimum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS		(89.05%)
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Maximum | Risk Metrics
Fair Value Inputs, Quantitative Information [Abstract]
Effective Duration	65 years 11 months 12 days	55 years 11 months 5 days
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Maximum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS		272.02%
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | All other | Weighted Average | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	96.1	98
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | All other | Minimum | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	6.3	6.4
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | All other | Maximum | Single External Source
Fair Value Inputs, Quantitative Information [Abstract]
External Pricing Source(s)	110	113.2
Fair Value, Measurements, Recurring | Guarantee Asset | Fair Value, Inputs, Level 3 | Discounted Cash Flows
Other assets:
Guarantee Assets Fair Value Disclosure	$ 3,285	$ 3,171
Fair Value, Measurements, Recurring | Guarantee Asset | Fair Value, Inputs, Level 3 | Weighted Average | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS	0.45%	0.45%
Fair Value, Measurements, Recurring | Guarantee Asset | Fair Value, Inputs, Level 3 | Minimum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS	0.17%	0.17%
Fair Value, Measurements, Recurring | Guarantee Asset | Fair Value, Inputs, Level 3 | Maximum | Discounted Cash Flows
Fair Value Inputs, Quantitative Information [Abstract]
OAS	1.98%	1.98%
Fair Value, Measurements, Recurring | All Other, at fair value | Fair Value, Inputs, Level 3
Other assets:
All Other Assets Fair Value Disclosure	$ 3,373	$ 3,216
Fair Value, Measurements, Recurring | All Other, at fair value | Fair Value, Inputs, Level 3 | Other
Other assets:
All Other Assets Fair Value Disclosure	$ 88	$ 45

Fair Value Disclosures - Quan96

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	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	$ 5,777,000,000	$ 6,693,000,000
Level 3
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	5,716,000,000	6,199,000,000
Level 3 | Mortgage loans | Minimum | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 3,000	$ 3,000
Housing Sales Index	0.43%	0.43%
Level 3 | Mortgage loans | Minimum | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	36.1	36.5
Level 3 | Mortgage loans | Maximum | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 947,675	$ 899,000
Housing Sales Index	4.55%	3.94%
Level 3 | Mortgage loans | Maximum | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	94.8	94.9
Level 3 | Mortgage loans | Weighted Average | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 176,122	$ 176,558
Housing Sales Index	1.02%	1.02%
Level 3 | Mortgage loans | Weighted Average | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	81.5	80.9

Fair Value Disclosures - Fair V

Fair Value Disclosures - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Financial Assets
Securities purchased under agreement to resell	$ 41,828	$ 55,903
Mortgage Loans [Abstract]
Derivative Assets, net	454	375
Other Assets	3,502	3,353
Financial Liabilities
Debt, net	5,617	5,799
Derivative Liabilities, net	345	269
Held by consolidated trusts
Financial Assets
Securities purchased under agreement to resell	14,275	16,750
Financial Liabilities
Debt, net	638	639
GAAP Carrying Amount
Financial Assets
Cash and Cash Equivalents	8,617	9,811
Securities purchased under agreement to resell	41,828	55,903
Investments in Securities [Abstract]
Available-for-sale, at fair value	39,295	43,597
Trading, at fair value	36,206	40,721
Total investments in securities	75,501	84,318
Mortgage Loans [Abstract]
Mortgage loans	1,868,351	1,871,217
Derivative Assets, net	454	375
Guarantee Assets	3,285	3,171
Non Derivative HFS Purchase Commitments Assets	129	137
Advances To Lenders and Other Secured Lendings	1,233	1,269
Total Assets at Fair value	1,999,398	2,026,201
Financial Liabilities
Debt, net	2,004,807	2,034,630
Derivative Liabilities, net	345	269
Guarantee obligation	3,157	3,081
Non Derivative HFS Purchase Commitment Liabilities	19	4
Total Financial Liabilities	2,008,328	2,037,984
GAAP Carrying Amount | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,778,010	1,774,286
Financial Liabilities
Debt, net	1,726,969	1,720,996
GAAP Carrying Amount | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	90,341	96,931
Financial Liabilities
Debt, net	277,838	313,634
GAAP Carrying Amount | AmortizedCost
Mortgage Loans [Abstract]
Mortgage loans	1,800,000	1,800,000
Financial Liabilities
Debt, net	2,000,000	2,000,000
GAAP Carrying Amount | LowerOfCostOrFairValue
Mortgage Loans [Abstract]
Mortgage loans	11,800	14,700
GAAP Carrying Amount | FV - NI
Mortgage Loans [Abstract]
Mortgage loans	15,800	20,100
Financial Liabilities
Debt, net	5,600	5,800
Fair Value
Financial Assets
Cash and Cash Equivalents	8,617	9,811
Securities purchased under agreement to resell	41,828	55,903
Investments in Securities [Abstract]
Available-for-sale, at fair value	39,295	43,597
Trading, at fair value	36,206	40,721
Total investments in securities	75,501	84,318
Mortgage Loans [Abstract]
Mortgage loans	1,845,960	1,881,149
Derivative Assets, net	454	375
Netting Adjustment	(6,343)	(8,463)
Guarantee Assets	3,304	3,359
Non Derivative HFS Purchase Commitments Assets	177	192
Advances To Lenders and Other Secured Lendings	968	1,269
Total Assets at Fair value	1,976,809	2,036,376
Financial Liabilities
Debt, net	1,979,077	2,041,350
Derivative Liabilities, net	345	269
Netting Adjustment	(4,797)	(7,220)
Guarantee obligation	3,435	3,742
Non Derivative HFS Purchase Commitment Liabilities	34	19
Total Financial Liabilities	1,982,891	2,045,380
Fair Value | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,752,669	1,781,048
Financial Liabilities
Debt, net	1,697,863	1,723,770
Fair Value | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	93,291	100,101
Financial Liabilities
Debt, net	281,214	317,580
Fair Value | Level 1
Financial Assets
Cash and Cash Equivalents	8,617	9,811
Securities purchased under agreement to resell	0	0
Investments in Securities [Abstract]
Available-for-sale, at fair value	0	0
Trading, at fair value	15,713	20,159
Total investments in securities	15,713	20,159
Mortgage Loans [Abstract]
Mortgage loans	0	0
Derivative assets at fair value	0	0
Guarantee Assets	0	0
Non Derivative HFS Purchase Commitments Assets	0	0
Advances To Lenders and Other Secured Lendings	0	0
Total Assets at Fair value	24,330	29,970
Financial Liabilities
Debt, net	0	0
Derivative liabilities at fair value	0	0
Guarantee obligation	0	0
Non Derivative HFS Purchase Commitment Liabilities	0	0
Total Financial Liabilities	0	0
Fair Value | Level 1 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	0	0
Financial Liabilities
Debt, net	0	0
Fair Value | Level 1 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	0	0
Financial Liabilities
Debt, net	0	0
Fair Value | Level 2
Financial Assets
Cash and Cash Equivalents	0	0
Securities purchased under agreement to resell	41,828	55,903
Investments in Securities [Abstract]
Available-for-sale, at fair value	29,791	32,509
Trading, at fair value	17,445	17,645
Total investments in securities	47,236	50,154
Mortgage Loans [Abstract]
Mortgage loans	1,643,786	1,667,306
Derivative assets at fair value	6,770	8,830
Guarantee Assets	0	0
Non Derivative HFS Purchase Commitments Assets	129	137
Advances To Lenders and Other Secured Lendings	332	473
Total Assets at Fair value	1,740,081	1,782,803
Financial Liabilities
Debt, net	1,972,650	2,034,779
Derivative liabilities at fair value	5,075	7,424
Guarantee obligation	0	0
Non Derivative HFS Purchase Commitment Liabilities	19	4
Total Financial Liabilities	1,977,744	2,042,207
Fair Value | Level 2 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,614,741	1,635,137
Financial Liabilities
Debt, net	1,695,195	1,721,091
Fair Value | Level 2 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	29,045	32,169
Financial Liabilities
Debt, net	277,455	313,688
Fair Value | Level 3
Financial Assets
Cash and Cash Equivalents	0	0
Securities purchased under agreement to resell	0	0
Investments in Securities [Abstract]
Available-for-sale, at fair value	9,504	11,088
Trading, at fair value	3,048	2,917
Total investments in securities	12,552	14,005
Mortgage Loans [Abstract]
Mortgage loans	202,174	213,843
Derivative assets at fair value	27	8
Guarantee Assets	3,304	3,359
Non Derivative HFS Purchase Commitments Assets	48	55
Advances To Lenders and Other Secured Lendings	636	796
Total Assets at Fair value	218,741	232,066
Financial Liabilities
Debt, net	6,427	6,571
Derivative liabilities at fair value	67	65
Guarantee obligation	3,435	3,742
Non Derivative HFS Purchase Commitment Liabilities	15	15
Total Financial Liabilities	9,944	10,393
Fair Value | Level 3 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	137,928	145,911
Financial Liabilities
Debt, net	2,668	2,679
Fair Value | Level 3 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	64,246	67,932
Financial Liabilities
Debt, net	$ 3,759	$ 3,892

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, 2018	Dec. 31, 2017
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans Held For Sale, Fair Value	$ 15,832	$ 20,054
Loans Held For Sale, Unpaid Principal Balance, With Fair Value Option Elected	15,880	19,762
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables	(48)	292
Held by Freddie Mac
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	4,979	5,160
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	4,494	4,666
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	485	494
Held by consolidated trusts
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	629	630
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	630	630
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	(1)	0
Held by consolidated trusts | Interest-Only
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	$ 9	$ 9

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosures - Changes in Fair Value under the FVO option (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Held by Freddie Mac
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 9	$ (99)
Held by consolidated trusts
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	2	10
Loans Receivable [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	(458)	(35)
HFS loan purchase commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 105	$ 224

Legal Contingencies (Details)

Legal Contingencies (Details) $ in Millions	Mar. 14, 2013numberofdefendants	Sep. 20, 2013USD ($)
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

Regulatory Capital Regulatory C

Regulatory Capital Regulatory Capital - Net Worth and Minimum Capital (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Net Worth and Minimum Capital [Abstract]
GAAP net worth (deficit)	$ 2,150	$ (312)
Core capital (deficit)	(70,200)	(73,037)
Minimum capital requirement	17,661	18,431
Minimum capital surplus (deficit)	$ (87,861)	$ (91,468)

Selected Financial Statement102

Selected Financial Statement Line Items - Significant Components of Other Income (Loss) and Other Expense on Our Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other income (loss):
Gains (losses) on loans	$ (320)	$ 14
Income on guarantee obligation	171	146
Guarantee fee income	194	149
All other	(29)	(118)
Other Income (Loss)	121	415
HFS loan purchase commitments
Other income (loss):
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 105	$ 224

Selected Financial Statement103

Selected Financial Statement Line Items - Significant Components of Other Assets and Other Liabilities on Our Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Other assets:
Real estate owned, net	$ 837	$ 892
Accounts and other receivables	6,565	7,397
Guarantee asset	3,285	3,171
Fixed assets	837	798
Advances to lenders receivables	901	796
All other	613	636
Total other assets	13,038	13,690
Other liabilities:
Servicer liabilities	587	628
Guarantee obligation	3,157	3,081
Accounts payable and accrued expenses	715	754
Payables related to securities	2,503	2,813
Income Taxes Payable	1,415	656
All other	746	1,036
Total other liabilities	$ 9,123	$ 8,968