Federal Home Loan Mortgage (FMCC) 10-K 14 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Feb. 01, 2019	Jun. 29, 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-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1
Entity Common Stock, Shares Outstanding		650,058,775
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest income
Mortgage loans	$ 66,037	$ 63,735	$ 61,040
Investments in securities	3,035	3,415	3,855
Other	982	657	270
Total interest income	70,054	67,807	65,165
Interest expense	(58,033)	(53,643)	(50,786)
Net interest income	12,021	14,164	14,379
Benefit (provision) for credit losses	736	84	803
Net interest income after benefit (provision) for credit losses	12,757	14,248	15,182
Non-interest income (loss)
Guarantee fee income	811	662	513
Mortgage loans gains (losses)	724	2,026	200
Investment securities gains (losses)	(695)	1,036	(269)
Debt gains (losses)	720	151	(473)
Derivative gains (losses)	1,270	(1,988)	(274)
Other income (loss)	714	4,982	803
Non-interest income (loss)	3,544	6,869	500
Non-interest expense
Salaries and employee benefits	(1,227)	(1,098)	(989)
Professional services	(486)	(452)	(489)
Other administrative expense	(580)	(556)	(527)
Total administrative expense	(2,293)	(2,106)	(2,005)
Real estate owned operations expense	(169)	(189)	(287)
Temporary Payroll Tax Cut Continuation Act of 2011 expense	(1,484)	(1,340)	(1,152)
Other expense	(881)	(648)	(599)
Non-interest expense	(4,827)	(4,283)	(4,043)
Income (loss) before income tax (expense) benefit	11,474	16,834	11,639
Income tax (expense) benefit	(2,239)	(11,209)	(3,824)
Net income (loss)	9,235	5,625	7,815
Other comprehensive income (loss), net of taxes and reclassification adjustments:
Changes in unrealized gains (losses) related to available-for-sale securities	(722)	(253)	(825)
Changes in unrealized gains (losses) related to cash flow hedge relationships	114	124	141
Changes in defined benefit plans	(5)	62	(13)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(613)	(67)	(697)
Comprehensive income (loss)	8,622	5,558	7,118
Net income (loss)	9,235	5,625	7,815
Undistributed net worth sweep and senior preferred stock dividends	(5,623)	(8,869)	(7,718)
Net income (loss) attributable to common stockholders	$ 3,612	$ (3,244)	$ 97
Net income (loss) per common share — basic and diluted	$ 1.12	$ (1)	$ 0.03
Weighted average common shares outstanding (in millions) — basic and diluted	3,234	3,234	3,234

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents (Notes 1, 3, 14) (includes $596 and $2,963 of restricted cash and cash equivalents)	$ 7,273	$ 9,811
Securities purchased under agreements to resell (Notes 3, 10)	34,771	55,903
Investments in securities, at fair value (Note 7)	69,111	84,318
Mortgage loans held-for-sale (Notes 3, 4) (includes $23,106 and $20,054 at fair value)	41,622	34,763
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $6,139 and $8,966)	1,885,356	1,836,454
Accrued interest receivable (Note 3)	6,728	6,355
Derivative assets, net (Notes 9, 10)	335	375
Deferred tax assets, net (Note 12)	6,888	8,107
Other assets (Notes 3, 18) (includes $3,929 and $3,353 at fair value)	10,976	13,690
Total assets	2,063,060	2,049,776
Liabilities
Accrued interest payable (Note 3)	6,652	6,221
Debt, net (Notes 3, 8) (includes $5,112 and $5,799 at fair value)	2,044,950	2,034,630
Derivative liabilities, net (Notes 9, 10)	583	269
Other liabilities (Notes 3, 18)	6,398	8,968
Total liabilities	2,058,583	2,050,088
Commitments and contingencies (Notes 5, 9, 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 650,058,775 shares and 650,054,731 shares outstanding	0	0
Additional paid-in capital	0	0
Retained earnings (accumulated deficit)	(78,260)	(83,261)
AOCI, net of taxes, related to:
Available-for-sale securities (includes $221 and $593, related to net unrealized gains on securities for which other-than-temporary impairment has been recognized in earnings)	83	662
Cash flow hedge relationships	(315)	(356)
Defined benefit plans	97	83
Total AOCI, net of taxes	(135)	389
Treasury stock, at cost, 75,805,111 shares and 75,809,155 shares	(3,885)	(3,885)
Total equity (See Note 11 for information on our dividend requirement to Treasury)	4,477	(312)
Total liabilities and equity	2,063,060	2,049,776
Consolidated Balance Sheet Line Item
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $6,139 and $8,966)	1,885,356	1,836,454
Total assets	2,063,060	2,049,776
Debt, net (Notes 3, 8) (includes $5,112 and $5,799 at fair value)	2,044,950	2,034,630
Total liabilities	2,058,583	2,050,088
Held by consolidated trusts
Assets
Cash and cash equivalents (Notes 1, 3, 14) (includes $596 and $2,963 of restricted cash and cash equivalents)	567	518
Securities purchased under agreements to resell (Notes 3, 10)	12,125	16,750
Mortgage loans held-for-sale (Notes 3, 4) (includes $23,106 and $20,054 at fair value)	0	0
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $6,139 and $8,966)	1,842,850	1,774,286
Accrued interest receivable (Note 3)	5,914	5,747
Other assets (Notes 3, 18) (includes $3,929 and $3,353 at fair value)	1,631	2,738
Total assets	1,863,087	1,800,039
Liabilities
Accrued interest payable (Note 3)	5,335	5,028
Debt, net (Notes 3, 8) (includes $5,112 and $5,799 at fair value)	1,792,677	1,720,996
Other liabilities (Notes 3, 18)	0	2
Total liabilities	1,798,012	1,726,026
Consolidated Balance Sheet Line Item
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $6,139 and $8,966)	1,842,850	1,774,286
All other assets	20,237	25,753
Total assets	1,863,087	1,800,039
Debt, net (Notes 3, 8) (includes $5,112 and $5,799 at fair value)	1,792,677	1,720,996
All other liabilities	5,335	5,030
Total liabilities	$ 1,798,012	$ 1,726,026

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Restricted cash and cash equivalents	$ 596	$ 2,963
Mortgages held-for-sale, fair value disclosure	23,106	20,054
Allowance for loan losses	6,139	8,966
Other Assets at fair value	3,929	3,353
Debt securities recorded at fair value	5,112	5,799
Senior preferred stock, at redemption value	$ 75,648	$ 75,336
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	650,058,775	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	$ 221	$ 593
Treasury Stock, Shares	75,805,111	75,809,155

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Senior Preferred Stock	Preferred Stock, at Redemption Value	Common Stock, at Par Value	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	AOCI, Net of Tax	Treasury Stock, at Cost
Beginning balance at Dec. 31, 2015	$ 2,940	$ 72,336	$ 14,109	$ 0	$ 0	$ (80,773)	$ 1,153	$ (3,885)
Beginning balance, Shares at Dec. 31, 2015		1	464	650
Comprehensive income (loss):
Net income (loss)	7,815					7,815
Other comprehensive income (loss), net of taxes	(697)						(697)
Comprehensive income (loss)	7,118					7,815	(697)
Senior preferred stock dividends declared	(4,983)					(4,983)
Ending balance at Dec. 31, 2016	5,075	$ 72,336	$ 14,109	$ 0	0	(77,941)	456	(3,885)
Ending balance, Shares at Dec. 31, 2016		1	464	650
Comprehensive income (loss):
Net income (loss)	5,625					5,625
Other comprehensive income (loss), net of taxes	(67)						(67)
Comprehensive income (loss)	5,558					5,625	(67)
Senior preferred stock dividends declared	(10,945)					(10,945)
Ending balance at Dec. 31, 2017	(312)	$ 72,336	$ 14,109	$ 0	0	(83,261)	389	(3,885)
Ending balance, Shares at Dec. 31, 2017		1	464	650
Comprehensive income (loss):
Net income (loss)	9,235					9,235
Other comprehensive income (loss), net of taxes	(613)						(613)
Comprehensive income (loss)	8,622					9,235	(613)
Cumulative effect of change in accounting principle	0					(89)	89
Increase in liquidation preference	312	$ 312
Senior preferred stock dividends declared	(4,145)					(4,145)
Ending balance at Dec. 31, 2018	$ 4,477	$ 72,648	$ 14,109	$ 0	$ 0	$ (78,260)	$ (135)	$ (3,885)
Ending balance, Shares at Dec. 31, 2018		1	464	650

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities
Net income (loss)	$ 9,235,000,000	$ 5,625,000,000	$ 7,815,000,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Derivative (gains) losses	(1,450,000,000)	370,000,000	(1,516,000,000)
Asset-related amortization — premiums, discounts, and basis adjustments	5,282,000,000	6,038,000,000	7,089,000,000
Debt-related amortization — premiums and discounts on certain debt securities and basis adjustments	(7,399,000,000)	(8,653,000,000)	(10,151,000,000)
Debt (gains) losses	(720,000,000)	(151,000,000)	473,000,000
(Benefit) provision for credit losses	(736,000,000)	(84,000,000)	(803,000,000)
Mortgage loans (gains) losses	(724,000,000)	(2,026,000,000)	(200,000,000)
Investment securities (gains) losses	695,000,000	(1,036,000,000)	269,000,000
Hedge accounting earnings mismatch	658,000,000	(357,000,000)	0
Deferred income tax expense (benefit)	1,391,000,000	7,773,000,000	2,787,000,000
Purchases of mortgage loans acquired as held-for-sale	(70,482,000,000)	(64,827,000,000)	(48,379,000,000)
Proceeds from sales of mortgage loans acquired as held-for-sale	66,889,000,000	61,744,000,000	49,350,000,000
Repayments of mortgage loans acquired as held-for-sale	494,000,000	306,000,000	1,259,000,000
Payments to servicers for pre-foreclosure expense and servicer incentive fees	(282,000,000)	(377,000,000)	(585,000,000)
Change in accrued interest receivable	(373,000,000)	(220,000,000)	(61,000,000)
Change in Interest payable	440,000,000	273,000,000	(52,000,000)
Change in income taxes receivable	(1,269,000,000)	1,912,000,000	(1,230,000,000)
Other, net	(975,000,000)	(2,086,000,000)	(1,670,000,000)
Net cash provided by (used in) operating activities	674,000,000	4,224,000,000	4,395,000,000
Cash flows from investing activities
Purchases of trading securities	(131,977,000,000)	(160,333,000,000)	(104,045,000,000)
Proceeds from sales of trading securities	126,012,000,000	150,448,000,000	79,095,000,000
Proceeds from maturities and repayments of trading securities	11,375,000,000	8,570,000,000	22,244,000,000
Purchases of available-for-sale securities	(19,701,000,000)	(10,549,000,000)	(28,306,000,000)
Proceeds from sales of available-for-sale securities	21,952,000,000	23,034,000,000	20,699,000,000
Proceeds from maturities and repayments of available-for-sale securities	6,002,000,000	11,758,000,000	15,869,000,000
Purchases of held-for-investment mortgage loans	(151,836,000,000)	(126,162,000,000)	(169,948,000,000)
Proceeds from sales of mortgage loans held-for-investment	10,661,000,000	8,883,000,000	4,507,000,000
Repayments of mortgage loans held-for-investment	248,115,000,000	277,819,000,000	340,348,000,000
Advances under secured lending arrangements	(27,463,000,000)	(35,452,000,000)	(30,730,000,000)
Repayments of secured lending arrangements	1,592,000,000	0	0
Net proceeds from dispositions of real estate owned and other recoveries	1,336,000,000	1,861,000,000	2,519,000,000
Net (increase) decrease in securities purchased under agreements to resell	21,132,000,000	(4,355,000,000)	12,096,000,000
Derivative premiums and terminations, swap collateral, and exchange settlement payments, net	3,020,000,000	(538,000,000)	555,000,000
Changes in other assets	(572,000,000)	(428,000,000)	(357,000,000)
Net cash provided by investing activities	119,648,000,000	144,556,000,000	164,546,000,000
Cash flows from financing activities
Increase in liquidation preference of senior preferred stock	312,000,000	0	0
Payment of cash dividends on senior preferred stock	(4,145,000,000)	(10,945,000,000)	(4,983,000,000)
Changes in other liabilities	(2,000,000)	(3,000,000)	(6,000,000)
Net cash used in financing activities	(122,860,000,000)	(161,189,000,000)	(166,849,000,000)
Net (decrease) increase in cash and cash equivalents (includes restricted cash and cash equivalents)	(2,538,000,000)	(12,409,000,000)	2,092,000,000
Cash and cash equivalents (includes restricted cash and cash equivalents) at the beginning of year	9,811,000,000	22,220,000,000	20,128,000,000
Cash and cash equivalents (includes restricted cash and cash equivalents) at end of period	7,273,000,000	9,811,000,000	22,220,000,000
Cash paid for:
Debt interest	65,721,000,000	63,574,000,000	60,862,000,000
Income taxes	2,125,000,000	1,872,000,000	2,324,000,000
Held by Freddie Mac
Cash flows from financing activities
Proceeds from issuance of debt	574,472,000,000	613,280,000,000	659,108,000,000
Repayments of debt	(635,669,000,000)	(652,017,000,000)	(720,184,000,000)
Held by consolidated trusts
Cash flows from financing activities
Proceeds from issuance of debt	217,574,000,000	191,638,000,000	254,236,000,000
Repayments of debt	(275,402,000,000)	(303,142,000,000)	$ (355,020,000,000)
Cash and cash equivalents (includes restricted cash and cash equivalents) at the beginning of year	518,000,000
Cash and cash equivalents (includes restricted cash and cash equivalents) at end of period	$ 567,000,000	$ 518,000,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 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 . Throughout our consolidated financial statements and related notes, we use certain acronyms and terms which are defined in the Glossary . Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with GAAP and include our accounts as well as the accounts of other entities in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated. We are operating under the basis that we will realize assets and satisfy liabilities in the normal course of business as a going concern and in accordance with the authority provided by FHFA to our Board of Directors to oversee management's conduct of our business operations. Certain amounts in prior periods' consolidated financial statements have been reclassified to conform to the current presentation. 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 and valuing financial instruments and other assets and liabilities. Actual results could be different from these estimates. Consolidation and Equity Method Accounting For each entity with which we are involved, we determine whether the entity should be consolidated in our financial statements. We generally consolidate entities in which we have a controlling financial interest. The method for determining whether a controlling financial interest exists varies depending on whether the entity is a VIE. For entities that are not VIEs, we hold a controlling financial interest in entities where we hold a majority of the voting rights or a majority of a limited partnership's kick-out rights through voting interests. We do not currently consolidate any entities which are not VIEs. We use the equity method to account for our interests in entities in which we do not have a controlling financial interest, but over which we have significant influence. Cash and Cash Equivalents Highly liquid investment securities that have an original maturity of three months or less are accounted for as cash equivalents. Cash collateral accepted from counterparties that we do not have the right to use for general corporate purposes is classified as restricted cash on our consolidated balance sheets. Restricted cash includes cash remittances received from servicers of the underlying assets of our consolidated trusts which are deposited into a separate custodial account. We invest the cash held in the custodial account in short-term investments and are entitled to the interest income earned on these short-term investments, which is recorded as interest income, other on our consolidated statements of comprehensive income. Comprehensive Income Comprehensive income includes all changes in equity during a period, except those resulting from investments by stockholders. We define comprehensive income as consisting of net income (loss) plus after-tax changes in: n Unrealized gains and losses on available-for-sale securities; n Unrealized gains and losses related to cash flow hedge relationships; and n Defined benefit plans. Other Significant Accounting Policies The table below identifies our other significant accounting policies and the related note in which information about them can be found. Note Accounting Policy Note 3 Variable Interest Entities Note 4 Mortgage Loans and Allowance for Loan Losses Note 5 Financial Guarantees Note 6 Credit Enhancements Note 7 Investments in Securities Note 8 Debt Note 9 Derivatives Note 10 Collateralized Agreements and Offsetting Arrangements Note 10 Repurchase and Resale Agreements and Dollar Roll transactions Note 11 Earnings Per Share Note 11 Stockholders' Equity Note 12 Income Taxes Note 13 Segment Reporting Note 15 Fair Value Measurements Recently Issued Accounting Guidance Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on 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 amendment did not have a material effect on our 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 amendment did not have a material effect on our 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 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 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 consolidated financial statements or on our disclosures. 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 amendments in this Update primarily address the diversity in practice that currently exists in regard 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 of the amendments, 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 $1.2 billion and $0.5 billion of cash payments from financing activities to operating activities on our consolidated statements of cash flows for the years ended December 31, 2017 and December 31, 2016. Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Consolidated Financial Statements 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 consolidated financial statements; however, we modified the presentation of restricted cash and cash equivalent balances on our consolidated balance sheets. The presentation of our 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 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 The adoption of the amendments did not have a material effect on our consolidated financial statements or on our disclosures. 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 consolidated financial statements or on our disclosures. Recently Issued Accounting Guidance, Not Yet Adopted Within Our 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. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on 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 We have developed our models to estimate lifetime expected credit losses on our financial instruments measured at amortized cost primarily using a discounted cash flow methodology. These models are currently undergoing testing and validation. The amendments will be applied through a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption. While we are not able to reasonably estimate the effect that the adoption of these amendments will have on our consolidated financial statements, it may increase (perhaps substantially) our allowance for credit losses in the period of adoption . ASU 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement The amendments in this Update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurements, based on the concepts in the Concepts Statement, including the consideration of costs and benefits. Certain disclosure requirements were either removed, modified, or added. January 1, 2020 On October 1, 2018, we adopted the amendments to remove or modify certain disclosures, which did not have a material effect on the notes to our consolidated financial statements. We are delaying adoption of the amendments to add certain disclosures until their effective date. We are evaluating the effect that the adoption of the additional disclosures will have on the notes to our consolidated financial statements. ASU 2018-15 , Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract The amendments in this Update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). January 1, 2020 We do not expect that the adoption of these amendments will have a material effect on our consolidated financial statements. ASU 2018-16 , Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes The amendments in this Update permit the OIS rate based on SOFR, as an eligible U.S. benchmark interest rate for purposes of applying hedge accounting under Topic 815. January 1, 2019 We do not expect that the adoption of these amendments will have a material effect on our consolidated financial statements. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on Consolidated Financial Statements ASU 2018-17 , Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities The amendments in this Update require that indirect interests held through related parties under common control be considered on a proportional basis when determining whether fees paid to decision makers or service providers are variable interests. These amendments align with the determination of whether a reporting entity within a related party group is the primary beneficiary of a VIE. January 1, 2020 We are evaluating the effect that the adoption of these amendments will have on our consolidated financial statements. ASU 2018-20 , Leases (Topic 842): Narrow-Scope Improvements for Lessors The amendments in this Update address certain ASU 2016-02 implementation issues including the recognition of taxes collected from lessees, lessor costs paid directly by a lessee and recognition of variable payments for contracts with lease, and non-lease components. January 1, 2019 We do not expect that the adoption of these amendments will have a material effect on our consolidated financial statements.

Conservatorship and Related Mat

Conservatorship and Related Matters	12 Months Ended
	Dec. 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 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. Our current business objectives reflect direction we have received from the Conservator (including the Conservatorship Scorecards). At the direction of the Conservator, we have made changes to certain business practices that are designed to provide support for the mortgage market in a manner that serves our public mission and other non-financial objectives but may not contribute to our profitability. Certain of these objectives are intended to help homeowners and the mortgage market and may help to mitigate future credit losses. Some of these initiatives affect our near- and long-term financial results. Given our public mission and the important role the Administration and our Conservator have placed on Freddie Mac in addressing housing and mortgage market conditions, we may be required to take actions that could have a negative impact on our business, operating results, or financial condition, and thus contribute to a need for additional draws under the Purchase Agreement. In May 2014, FHFA issued its 2014 Strategic Plan, which updated FHFA's vision for implementing its obligations as Conservator of Freddie Mac and Fannie Mae and established three reformulated strategic goals. FHFA also has issued annual Conservatorship Scorecards since 2014. The annual Conservatorship Scorecards establish objectives and performance targets and measures for Freddie Mac and Fannie Mae (the Enterprises) related to the strategic goals set forth in the Strategic Plan. The 2014 Strategic Plan established three reformulated strategic goals for the conservatorships of Freddie Mac and Fannie Mae: n Maintain , in a safe and sound manner, foreclosure prevention activities and credit availability for new and refinanced loans to foster liquid, efficient, competitive, and resilient national housing finance markets; n Reduce taxpayer risk through increasing the role of private capital in the mortgage market; and n Build a new single-family securitization infrastructure for use by the Enterprises and adaptable for use by other participants in the secondary market in the future. As part of the first goal, the 2014 Strategic Plan describes various steps related to increasing access to mortgage credit for credit-worthy borrowers. The 2014 Strategic Plan provides for the Enterprises to continue to play an ongoing role in supporting multifamily housing needs, particularly for low-income households. The plan states that FHFA will continue to impose a production cap on Freddie Mac's and Fannie Mae's multifamily businesses. However, in 2015, FHFA allowed loans in certain affordable and underserved market segments to be excluded from the production cap. This allowance was maintained in all of the subsequent Conservatorship Scorecards with slight modification. The second goal focuses on ways to transfer risk to private market participants and away from the Enterprises in a responsible way that does not reduce liquidity or adversely affect the availability of mortgage credit. The second goal provides for us to increase the use of single-family credit risk transfer transactions, continue using risk transfer transactions in the multifamily business, and limit our mortgage-related investments portfolio consistent with the requirements in the Purchase Agreement, with a focus on selling less liquid assets. The third goal includes the continued development of the common securitization platform. FHFA refined the scope of this project to focus on making the new shared system operational for Freddie Mac's and Fannie Mae's existing single-family securitization activities. The third goal also provides for the Enterprises to work towards the development of a UMBS and other aspects of the Single Security initative. We continue to align our resources and internal business plans to meet the goals and objectives provided to us by FHFA. As a result of the net worth sweep dividend provisions of the senior preferred stock, we cannot retain capital from the earnings generated by our business operations in excess of the applicable Capital Reserve Amount under the Purchase Agreement (which was $3.0 billion as of January 1, 2018 but will be reduced to zero if for any reason we do not pay the full dividend requirement in a future period) or return capital to stockholders other than Treasury, the holder of our senior preferred stock. Our future is uncertain, and the conservatorship has no specified termination date. We do not know what changes may occur to our business model during or following conservatorship, including whether we will continue to exist. Our Conservator has not made us aware of any plans to make any significant change to our business model or capital structure in the near term. Our future structure and role will be determined by the Administration and Congress, and it is possible and perhaps likely that there will be significant changes beyond the near term. We have no ability to predict the outcome of these deliberations. Purchase Agreement and Warrant Overview On September 7, 2008, we, through FHFA, in its capacity as Conservator, entered into the Purchase Agreement with Treasury. The Purchase Agreement was subsequently amended and restated on September 26, 2008, and further amended on May 6, 2009, December 24, 2009, August 17, 2012, and December 21, 2017. The amount of available funding remaining under the Purchase Agreement was $140.2 billion as of December 31, 2018 . This amount will be reduced by any future draws. The Purchase Agreement requires Treasury, upon the request of the Conservator, to provide funds to us after any quarter in which we have a negative net worth (that is, our total liabilities exceed our total assets, as reflected on our consolidated balance sheets). In addition, the Purchase Agreement requires Treasury, upon the request of the Conservator, to provide funds to us if the Conservator determines, at any time, that it will be mandated by law to appoint a receiver for us unless we receive these funds from Treasury. In exchange for Treasury's funding commitment, we issued to Treasury, as an aggregate initial commitment fee, one million shares of Variable Liquidation Preference Senior Preferred Stock (with an initial liquidation preference of $1 billion ), which we refer to as the senior preferred stock, and a warrant to purchase, for a nominal price, shares of our common stock equal to 79.9% of the total number of shares of our common stock outstanding on a fully diluted basis at the time the warrant is exercised, which we refer to as the warrant. We received no cash proceeds or other consideration from Treasury for issuing the senior preferred stock or the warrant. Treasury, as the holder of the senior preferred stock, is entitled to receive quarterly cash dividends, when, as and if declared by our Board of Directors. The dividends we have paid to Treasury on the senior preferred stock have been declared by, and paid at the direction of, the Conservator, acting as successor to the rights, titles, powers, and privileges of the Board. Through December 31, 2012, the senior preferred stock accrued quarterly cumulative dividends at a rate of 10% per year. However, under the August 2012 amendment to the Purchase Agreement, the fixed dividend rate was replaced with a net worth sweep dividend beginning in the first quarter of 2013. Under the August 2012 amendment to the Purchase Agreement and the December 2017 Letter Agreement, for each quarter from January 1, 2013 and thereafter, the dividend payment will be the amount, if any, by which our Net Worth Amount at the end of the immediately preceding fiscal quarter, less the applicable Capital Reserve Amount, exceeds zero. The term Net Worth Amount is defined as the total assets of Freddie Mac (excluding Treasury's commitment and any unfunded amounts thereof), less our total liabilities (excluding any obligation in respect of capital stock), in each case as reflected on our consolidated balance sheets prepared in accordance with GAAP. If the calculation of the dividend payment for a quarter does not exceed zero, then no dividend will accrue or be payable for that quarter. Pursuant to the Letter Agreement, the applicable Capital Reserve Amount is $3.0 billion . If for any reason we do not pay the net worth sweep dividend in full for any period, the applicable Capital Reserve Amount will thereafter be zero. The amounts payable for dividends on the senior preferred stock could be substantial and will have an adverse impact on our financial position and net worth. The senior preferred stock is senior in liquidation preference to our common stock and all other series of preferred stock. In addition to the issuance of the senior preferred stock and warrant, we are required under the Purchase Agreement to pay a quarterly commitment fee to Treasury. Under the Purchase Agreement, the fee is to be determined in an amount mutually agreed to by us and Treasury with reference to the market value of Treasury's funding commitment as then in effect. However, pursuant to the August 2012 amendment to the Purchase Agreement, for each quarter commencing January 1, 2013, and for as long as the net worth sweep dividend provisions remain in form and content substantially the same, no periodic commitment fee under the Purchase Agreement will be set, accrue, or be payable. Under the Purchase Agreement, our ability to repay the liquidation preference of the senior preferred stock is limited, and we will not be able to do so for the foreseeable future, if at all. On December 31, 2018, the aggregate liquidation preference of the senior preferred stock was $75.6 billion . The liquidation preference will increase if we receive additional draws under the Purchase Agreement or if any dividends or quarterly commitment fees payable under the Purchase Agreement are not paid in cash. The Purchase Agreement includes significant restrictions on our ability to manage our business, including limiting the amount of indebtedness we can incur and the size of our mortgage-related investments portfolio. The Purchase Agreement has an indefinite term and can terminate only in limited circumstances, which do not include the end of the conservatorship. The Purchase Agreement therefore could continue after the conservatorship ends. However, Treasury's consent is required for a termination of conservatorship other than in connection with receivership. Treasury has the right to exercise the warrant, in whole or in part, at any time on or before September 7, 2028. Purchase Agreement Covenants The Purchase Agreement provides that, until the senior preferred stock is repaid or redeemed in full, we may not, without the prior written consent of Treasury: n Declare or pay any dividend (preferred or otherwise) or make any other distribution with respect to any Freddie Mac equity securities (other than with respect to the senior preferred stock or warrant); n Redeem, purchase, retire, or otherwise acquire any Freddie Mac equity securities (other than the senior preferred stock or warrant); n Sell or issue any Freddie Mac equity securities (other than the senior preferred stock, the warrant, and the common stock issuable upon exercise of the warrant and other than as required by the terms of any binding agreement in effect on the date of the Purchase Agreement); n Terminate the conservatorship (other than in connection with a receivership); n Sell, transfer, lease, or otherwise dispose of any assets, other than dispositions for fair market value: l To a limited life regulated entity (in the context of a receivership); l Of assets and properties in the ordinary course of business, consistent with past practice; l Of assets and properties having fair market value individually or in aggregate less than $250 million in one transaction or a series of related transactions; l In connection with our liquidation by a receiver; l Of cash or cash equivalents for cash or cash equivalents; or l To the extent necessary to comply with the covenant described below relating to the reduction of our mortgage-related investments portfolio; n Issue any subordinated debt; n Enter into a corporate reorganization, recapitalization, merger, acquisition, or similar event; or n Engage in transactions with affiliates unless the transaction is: l Pursuant to the Purchase Agreement, the senior preferred stock, or the warrant; l Upon arm's length terms; or l A transaction undertaken in the ordinary course or pursuant to a contractual obligation or customary employment arrangement in existence on the date of the Purchase Agreement. The Purchase Agreement also required us to reduce the amount of mortgage assets we own. The Purchase Agreement, as revised in the August 2012 amendment, provides that we could not own mortgage assets with UPB in excess of $650 billion on December 31, 2012, and on December 31 of each year thereafter may not own mortgage assets with UPB in excess of 85% of the aggregate amount of mortgage assets we are permitted to own as of December 31 of the immediately preceding calendar year. The Purchase Agreement limit reached $250 billion at December 31, 2018. Under the Purchase Agreement, we also may not, without the prior written consent of Treasury, incur indebtedness that would result in the par value of our aggregate indebtedness exceeding 120% of the amount of mortgage assets we are permitted to own on December 31 of the immediately preceding calendar year. The mortgage asset and indebtedness limitations are determined without giving effect to the changes to the accounting guidance for transfers of financial assets and consolidation of VIEs, under which we consolidated our single-family PC trusts and certain other VIEs in our financial statements as of January 1, 2010. In addition, the Purchase Agreement provides that we may not enter into any new compensation arrangements or increase amounts or benefits payable under existing compensation arrangements of any named executive officer or other executive officer (as such terms are defined by SEC rules) without the consent of the Director of FHFA, in consultation with the Secretary of the Treasury. The Purchase Agreement also provides that, on an annual basis, we are required to deliver a risk management plan to Treasury setting out our strategy for reducing our enterprise-wide risk profile and the actions we will take to reduce the financial and operational risk associated with each of our reportable business segments. Warrant Covenants The warrant we issued to Treasury includes, among others, the following covenants: n Our SEC filings under the Exchange Act will comply in all material respects as to form with the Exchange Act and the rules and regulations thereunder; n Without the prior written consent of Treasury, we may not permit any of our significant subsidiaries to issue capital stock or equity securities, or securities convertible into or exchangeable for such securities, or any stock appreciation rights or other profit participation rights to any person other than Freddie Mac or its wholly-owned subsidiaries; n We may not take any action that will result in an increase in the par value of our common stock; n Unless waived or consented to in writing by Treasury, we may not take any action to avoid the observance or performance of the terms of the warrant and we must take all actions necessary or appropriate to protect Treasury's rights against impairment or dilution; and n We must provide Treasury with prior notice of specified actions relating to our common stock, such as setting a record date for a dividend payment, granting subscription or purchase rights, authorizing a recapitalization, reclassification, merger or similar transaction, commencing a liquidation of the company, or any other action that would trigger an adjustment in the exercise price or number or amount of shares subject to the warrant. Termination Provisions The Purchase Agreement provides that the Treasury's funding commitment will terminate under any of the following circumstances: n The completion of our liquidation and fulfillment of Treasury's obligations under its funding commitment at that time; n The payment in full of, or reasonable provision for, all of our liabilities (whether or not contingent, including mortgage guarantee obligations); and n The funding by Treasury of the maximum amount of the commitment under the Purchase Agreement. In addition, Treasury may terminate its funding commitment and declare the Purchase Agreement null and void if a court vacates, modifies, amends, conditions, enjoins, stays, or otherwise affects the appointment of the Conservator or otherwise curtails the Conservator's powers. Treasury may not terminate its funding commitment under the Purchase Agreement solely by reason of our being in conservatorship, receivership or other insolvency proceeding, or due to our financial condition or any adverse change in our financial condition. Waivers and Amendments The Purchase Agreement provides that most provisions of the agreement may be waived or amended by mutual written agreement of the parties; however, no waiver or amendment of the agreement is permitted that would decrease Treasury's aggregate funding commitment or add conditions to Treasury's funding commitment if the waiver or amendment would adversely affect in any material respect the holders of our debt securities or mortgage guarantee obligations. Third-Party Enforcement Rights In the event of our default on payments with respect to our debt securities or mortgage guarantee obligations, if Treasury fails to perform its obligations under its funding commitment and if we and/or the Conservator are not diligently pursuing remedies in respect of that failure, the holders of these debt securities or mortgage guarantee obligations may file a claim in the United States Court of Federal Claims for relief requiring Treasury to fund to us the lesser of: n The amount necessary to cure the payment defaults on our debt securities and mortgage guarantee obligations and n The lesser of: l The deficiency amount and l The maximum amount of the commitment less the aggregate amount of funding previously provided under the commitment. Any payment that Treasury makes under those circumstances will be treated for all purposes as a draw under the Purchase Agreement that will increase the liquidation preference of the senior preferred stock. 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 could not exceed $250.0 billion at December 31, 2018 and was $218.1 billion at that date. Since 2014, we have been managing the UPB of the mortgage-related investments portfolio so that it does not exceed 90% of the annual cap established by the Purchase Agreement. In February 2019, FHFA directed us to maintain the mortgage-related investments portfolio at or below $225 billion at all times. Our ability to acquire and sell mortgage assets continues to be 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 September 30, 2018, our assets exceeded our liabilities under GAAP; therefore, FHFA did not request a draw on our behalf and, as a result, we did not receive any funding from Treasury under the Purchase Agreement during the three months ended December 31, 2018 . Since conservatorship began through December 31, 2018 , we have paid cash dividends of $116.5 billion to Treasury at the direction of the Conservator. At December 31, 2018, our assets exceeded our liabilities under GAAP. As a result, FHFA will not submit a draw request from Treasury on our behalf. Based on our Net Worth Amount at December 31, 2018 and the Capital Reserve Amount of $3.0 billion , our dividend requirement to Treasury in March 2019 will be $1.5 billion . Additionally, in recent years, the Federal Reserve purchased significant amounts of mortgage-related securities issued by us, Fannie Mae and Ginnie Mae. See Note 8 and Note 11 for more information on the conservatorship and the Purchase Agreement. Related Parties as a Result of Conservatorship As a result of our issuance to Treasury of the warrant to purchase shares of our common stock equal to 79.9% of the total number of shares of our common stock outstanding, on a fully diluted basis, we are deemed a related party to the U.S. government. During the years ended December 31, 2018, 2017, and 2016, no transactions outside of normal business activities have occurred between us and the U.S. government (or any of its related parties), except for the following: n The transactions with Treasury discussed above in Purchase Agreement and Warrant and Government Support for Our Business ; n The transactions entered into whereby we and Fannie Mae, in conjunction with Treasury, provided assistance to state and local HFAs. Treasury will reimburse Freddie Mac for initial guarantee losses on these transactions; n The transactions discussed in Note 4 , Note 8 , and Note 11 ; and n The allocation or transfer of 4.2 basis points of each dollar of new business purchases to certain housing funds as required under the GSE Act. In addition, we are deemed related parties with Fannie Mae as both we and Fannie Mae have the same relationships with FHFA and Treasury. All transactions between us and Fannie Mae have occurred in the normal course of business in conservatorship. In October 2013, FHFA announced the formation of CSS. CSS is equally-owned by Freddie Mac and Fannie Mae. In connection with the formation of CSS, we entered into a limited liability company agreement with Fannie Mae. In November 2014, we and Fannie Mae announced that a chief executive officer had been named for CSS. Additionally, we and Fannie Mae each appointed two executives to the CSS Board of Managers and signed governance and operating agreements for CSS. Therefore, CSS is also deemed a related party. During the year ended December 31, 2018 , we contributed $135 million of capital to CSS, and we have contributed $464 million since the fourth quarter of 2014.

Securitization Activities and C

Securitization Activities and Consolidation	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SECURITIZATION ACTIVITIES AND CONSOLIDATION	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. See Note 5 for additional information on our guarantee activities. We also use trusts that are VIEs in certain single-family credit risk transfer products. We consolidate VIEs when we have a controlling financial interest in the VIE and are therefore considered the primary beneficiary of the VIE. We are the primary beneficiary of a VIE when we have both the power to direct the activities of the VIE that most significantly impact its economic performance and exposure to losses or benefits of the VIE that could potentially be significant to the VIE. We evaluate whether we are the primary beneficiary of VIEs in which we have interests on an ongoing basis, and our primary beneficiary determination may change over time as our interest in the VIE changes. Securitization Activities PCs PCs are pass-through debt securities that represent undivided beneficial interests in a pool of loans held by a securitization trust. We serve as both administrator and guarantor for our PC trusts. As administrator, we have the right to establish servicing terms and direct loss mitigation activities for the loans held by the PC trusts. As guarantor, we guarantee the payment of principal and interest on our PCs in exchange for a guarantee fee, and we have the right to purchase delinquent loans from the PC trust to help improve the economic performance of the trust. We absorb all credit losses of the PC trusts through our guarantee of the principal and interest payments. The economic performance of our PC trusts is most significantly affected by the performance of the underlying loans. Our rights as administrator and guarantor provide us with the power to direct the activities that most significantly affect the performance of the underlying loans. We also have the obligation to absorb losses of our PC trusts that could potentially be significant through our guarantee of principal and interest payments. Accordingly, we concluded that we are the primary beneficiary of our PC trusts and, therefore, consolidate those trusts. Loans held by our PC trusts are recognized on our consolidated balance sheets as mortgage loans held-for-investment. The corresponding PCs held by third parties are recognized on our consolidated balance sheets as debt, net. We extinguish the outstanding debt securities of the related consolidated trust and recognize gains or losses on debt extinguishment for the difference between the consideration paid and the debt carrying value when we purchase PCs as investments in our mortgage-related investments portfolio. Sales of PCs previously held as investments in our mortgage-related investments portfolio are accounted for as debt issuances. See Note 4 and Note 8 for additional information on loans and debt securities of consolidated trusts. At both December 31, 2018 and December 31, 2017 , we were the primary beneficiary of, and therefore consolidated, PC trusts with assets totaling $1.8 trillion . Substantially all of these consolidated trusts were single-family PC trusts. During the years ended December 31, 2018 and December 31, 2017 , we issued approximately $310.9 billion and $347.7 billion , respectively, of guaranteed PCs. Our exposure for guarantees to consolidated securitization trusts is generally equal to the UPB of the loans recorded on our consolidated balance sheets. Resecuritization Products We create resecuritization products primarily by using PCs or our previously issued resecuritization products as the underlying collateral. In a typical resecuritization transaction, previously issued PCs or resecuritization products are transferred to a resecuritization trust that issues beneficial interests in the underlying collateral. We establish parameters that define eligibility standards for assets that may be used as collateral for each of our resecuritization programs. Resecuritization products can then be created based on the parameters that we have established. Similar to our PCs, we guarantee the full payment of principal and interest to the investors in our resecuritization products. However, because we have already guaranteed the underlying assets, we do not assume any incremental credit risk by issuing these securities. The main types of resecuritization products we create are Giant PCs, REMICs, and Stripped Giant PCs. n Giant PCs - Giant PCs are direct pass-throughs of the cash flows of the underlying collateral, which may be previously issued PCs or Giant PCs. We do not consolidate Giant PCs as their resecuritization does not result in any new or incremental risk to the holders of the securities issued by the resecuritization trust and because we are not exposed to any incremental rights to receive benefits or obligations to absorb losses that could be significant to the resecuritization trust. Purchases of Giant PCs as investments in our mortgage-related investments portfolio are accounted for as debt extinguishments of a pro-rata portion of the underlying single-family PCs because Giant PCs are considered substantially the same as the underlying single-family PCs. Similarly, sales of Giant PCs previously held as investments in our mortgage-related investments portfolio are accounted for as debt issuances of a pro-rata portion of the underlying single-family PCs. n REMICs and Stripped Giant PCs - REMICs and Stripped Giant PCs are multiclass resecuritizations of the cash flows of the underlying collateral, which may be previously issued PCs, Giant PCs, or other REMICs and Stripped Giant PCs. The activity that most significantly impacts the economic performance of our multiclass resecuritization trusts is typically the initial design and structuring of the trust. Substantially all multiclass resecuritization trusts are created as part of customer-driven transactions in which an investor or dealer participates in the decisions made during the design and establishment of the trust. As a result, we do not have the unilateral ability to direct the activities of our multiclass resecuritization trusts that most significantly impact the economic performance of those trusts. In addition, we do not have the right to receive benefits or the obligation to absorb losses that could potentially be significant to the trusts because we have already provided a guarantee on the underlying assets. As a result, we have concluded that we are not the primary beneficiary of our multiclass resecuritization trusts and, therefore, do not consolidate those trusts. Because we have already guaranteed the underlying assets, we do not receive any incremental guarantee fees in exchange for our guarantee, and, accordingly, we do not recognize any additional guarantee assets, guarantee obligations or reserves for guarantee losses related to multiclass resecuritization trusts. Instead, we receive a one-time transaction fee which represents compensation for both the structuring and creation of the securities and for our ongoing administrative responsibilities to service the securities. We recognize the portion of the transaction fee related to creation of the securities immediately in earnings. We defer the portion of the fee related to ongoing administrative responsibilities and amortize it over the life of the associated trust. When we purchase a REMIC or Stripped Giant PC as an investment in our mortgage-related investments portfolio, we generally record the security as an investment in debt securities rather than extinguishment of debt since we are generally investing in the debt securities of a non-consolidated entity. We do not consolidate REMIC or Stripped Giant PC trusts in which we hold variable interests, as we are not deemed to be the primary beneficiary of the trusts, unless we have the unilateral ability to collapse the trust. Similarly, sales of REMICs or Stripped Giant PCs previously held as investments in our mortgage-related investments portfolio are accounted for as sales of investments in debt securities. See Note 7 for additional information on accounting for investments in debt securities. Senior Subordinate Securitization Structures We are the primary beneficiary of and, therefore, consolidate certain of our single-family senior subordinate securitization structures because we have both the ability to direct the loss mitigation activities of the underlying loans and the obligation to absorb credit losses through our guarantee of the issued senior securities. As a result, we consolidated certain of the trusts used in these senior subordinate securitization structures with underlying assets totaling $26.1 billion and $3.6 billion , at December 31, 2018 and December 31, 2017 , respectively. We do not consolidate single-family senior subordinate securitization structures when we do not have the ability to direct the loss mitigation activities of the underlying loans, which is the most significant activity affecting the economic performance of the VIE. For those securitizations that we do not consolidate where we sell loans to the VIE, we derecognize the transferred loans and account for our guarantee to the non-consolidated VIE. We account for our investments in the beneficial interests issued by the non-consolidated VIE as investments in debt securities. During 2018 and 2017 , we issued approximately $8.4 billion and $6.8 billion , respectively, of guaranteed securities in these senior subordinate securitization structures for which a guarantee asset and guarantee obligation were generally recognized. Single-family Other Securitization Products We are the primary beneficiary of and, therefore, consolidate the trusts used to issue our single-family other securitization products when we have the ability to direct the activities that most significantly affect the economic performance of the trusts and we have the obligation to absorb credit losses through our guarantee of some or all of the issued securities. As a result, we consolidated trusts used to issue these products with underlying assets totaling $3.4 billion and $4.1 billion at December 31, 2018 and December 31, 2017 , respectively. We do not consolidate the trusts used to issue our single-family other securitization products that do not meet these conditions. We have not entered into single-family other securitization products in several years. K Certificates In a K Certificate transaction, we sell multifamily loans to a non-Freddie Mac securitization trust that issues senior, mezzanine, and subordinate securities, and simultaneously purchase and place the senior securities into a Freddie Mac securitization trust that issues guaranteed K Certificates. In these transactions, we guarantee the senior securities issued by the Freddie Mac securitization trust and do not issue or guarantee the mezzanine or subordinate securities issued by the non-Freddie Mac securitization trust. We receive a guarantee fee in exchange for our guarantee. We serve as guarantor of our K Certificate trusts and, from time to time, as master servicer. However, in contrast to single-family PC trusts, the rights to direct loss mitigation activities of the underlying loans and to purchase delinquent loans from the securitization trust are generally held by the investor in the most subordinate remaining securities issued by the non-Freddie Mac trust, and therefore we do not have any power to direct those activities unless we are the investor in the most subordinate remaining securities. The economic performance of our K Certificate trusts is most significantly affected by the performance of the underlying loans. Because our rights in a K Certificate transaction do not provide us with the power to direct the activities that most significantly affect the performance of the underlying loans and we do not hold the most subordinate remaining securities, we are not the primary beneficiary of our K Certificate trusts and, therefore, do not consolidate those trusts. When we sell loans to a K Certificate trust, we derecognize the transferred loans and account for our guarantee to the non-consolidated K Certificate trust. We account for our investments in the beneficial interests issued by non-consolidated K Certificate trusts as investments in debt securities. During 2018 and 2017 , we issued approximately $52.2 billion and $48.5 billion , respectively, of K Certificates for which a guarantee asset and guarantee obligation were generally recognized. SB Certificates In SB Certificate transactions, we securitize multifamily small balance loans using a non-Freddie Mac SB Certificate trust that issues senior classes of securities that we guarantee, as well as subordinated classes of securities that we do not guarantee. Similar to our K Certificate transactions, we are not the primary beneficiary of and, therefore, do not consolidate our SB Certificate trusts, as we do not have the ability to direct loss mitigation activities of the underlying loans, which is the most significant activity affecting the economic performance of the VIE. In a typical SB Certificate transaction, we sell loans to a SB Certificate trust, derecognize the transferred loans and account for our guarantee to the non-consolidated SB Certificate trust. We account for our investments in the beneficial interests issued by non-consolidated SB Certificate trusts as investments in debt securities. During 2018 and 2017 , we issued approximately $6.3 billion and $4.9 billion , respectively, of SB Certificates for which a guarantee asset and guarantee obligation were recognized. Multifamily Other Risk Transfer Securitizations We are the primary beneficiary of and, therefore, consolidate the trusts used to issue our KT Certificates and K Certificates without subordination because we have the ability to direct the activities that most significantly affect the economic performance of the trusts and we have the obligation to absorb credit losses through our guarantee of some or all of the issued securities. As a result, we consolidated trusts used to issue these products with underlying assets totaling $5.0 billion and $4.4 billion at December 31, 2018 and December 31, 2017 , respectively. Our multifamily PCs are included in Note 3 - Securitization Activities - PCs . We do not consolidate the trusts used to issue our other risk transfer securitization products that do not meet these conditions, including those trusts that issue ML Certificates, KI Certificates, Q Certificates, and M Certificates. For those products, we account for our guarantee to the non-consolidated VIE. During 2018 and 2017 , we issued approximately $3.4 billion and $5.6 billion , respectively, of these securities for which a guarantee asset and guarantee obligation were generally recognized. CRT Activities STACR Trust In a STACR Trust transaction, we pay a credit premium payment to a trust that issues credit-linked notes whose repayments are based on the credit performance of a reference pool of mortgage loans. The trust issues the notes and makes periodic payments of principal and interest on the notes to investors, and we receive payments from the trust that otherwise would have been made to the noteholders to the extent there are credit events on the mortgages in the reference pool. The note balances are reduced by the amount of the payments to us. STACR Trust was designed to create and pass along to its interest holders the variability related to the credit risk of the mortgages in the reference pool. Because our credit protection arrangement is a creator rather than an absorber of that variability, we do not have a variable interest in the risk that the STACR Trust was designed to create and pass along to its interest holders and do not consolidate the trusts used in the STACR Trust transactions. Consolidated VIEs We consolidated the VIEs for which we are the primary beneficiary as discussed above. Our exposure on debt securities of consolidated trusts represents our liability to third parties that hold beneficial interests in our consolidated securitization trusts. When we consolidate a VIE, we recognize the assets and liabilities of the VIE on our consolidated balance sheets and account for those assets and liabilities based on the applicable GAAP for each specific type of asset or liability. Assets and liabilities that we transfer to a VIE at, after or shortly before the date we become the primary beneficiary of the VIE are initially measured at the same amounts that they would have been measured if they had not been transferred, and no gain or loss is recognized on these transfers. For all other VIEs that we consolidate, we recognize the assets and liabilities of the VIE at fair value, and we recognize a gain or loss for the difference between: n The sum of the fair value of the consideration paid, the fair value of any noncontrolling interests, and the reported amount of any previously held interests and n The net fair value of the assets and liabilities recognized. Guarantees to consolidated VIEs are eliminated in consolidation and are therefore not separately recognized on our consolidated balance sheets. The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on our consolidated balance sheets. Table 3.1 - Consolidated VIEs (In millions) As of December 31, 2018 As of December 31, 2017 Consolidated Balance Sheet Line Item Assets: Cash and cash equivalents (includes $566 and $518 of restricted cash and cash equivalent) $567 $518 Securities purchased under agreements to resell 12,125 16,750 Mortgage loans held-for-investment 1,842,850 1,774,286 Accrued interest receivable 5,914 5,747 Other assets 1,631 2,738 Total assets of consolidated VIEs $1,863,087 $1,800,039 Liabilities: Accrued interest payable $5,335 $5,028 Debt, net 1,792,677 1,720,996 Other liabilities — 2 Total liabilities of consolidated VIEs $1,798,012 $1,726,026 Non-Consolidated VIEs Our involvement with VIEs for which we are not the primary beneficiary may take the form of purchasing an investment in these entities or providing a guarantee to these entities. Our maximum exposure to loss for those VIEs where we have purchased an investment is calculated as the maximum potential charge that we would recognize in earnings if that investment were to become worthless. Our maximum exposure to loss for those VIEs where we have provided a guarantee represents the contractual amounts that could be lost under the guarantees if counterparties or borrowers defaulted, without consideration of possible recoveries under credit enhancement arrangements. 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. The following table presents the carrying amounts and classification of the assets and liabilities recorded on our consolidated balance sheets related to 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. Table 3.2 - Non-Consolidated VIEs (In millions) As of December 31, 2018 As of December 31, 2017 Assets and Liabilities Recorded on our Consolidated Balance Sheets (1) Assets: Investments in securities, at fair value $44,020 $51,494 Accrued interest receivable 235 233 Derivative assets, net 1 7 Other assets 3,119 2,591 Liabilities: Derivative liabilities, net 88 — Other liabilities 3,049 2,489 Maximum Exposure to Loss (2)(3) $241,055 $200,196 Total Assets of Non-Consolidated VIEs (3) $284,724 $232,762 (1) Includes our variable interests in REMICs and Stripped Giant PCs, K Certificates, SB Certificates, certain senior subordinate securitization structures, other securitization products, and other risk transfer securitizations 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 consolidated balance sheets. In addition, our maximum exposure to loss excludes certain securitization activity and other mortgage-related guarantees measured at fair value 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, such as through our investments in certain non-Freddie Mac mortgage-related securities, purchases of multifamily loans, guarantees of multifamily housing revenue bonds, as a derivative counterparty or through other activities. To the extent that we were not involved in the design or 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. As a result, we do not consolidate these VIEs and we account for our interests in these VIEs in the same manner that we account for our interests in other third-party transactions. See Note 7 for additional information regarding our investments in non-Freddie Mac mortgage-related securities. See Note 4 for more information regarding multifamily loans.

Mortgage Loans and Loan Loss Re

Mortgage Loans and Loan Loss Reserves	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in 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 consolidated balance sheets as of December 31, 2018 and December 31, 2017 . Table 4.1 - Mortgage Loans December 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 $20,946 $— $20,946 $17,039 $— $17,039 Multifamily 23,959 — 23,959 20,537 — 20,537 Total UPB 44,905 — 44,905 37,576 — 37,576 Cost basis and fair value adjustments, net (3,283 ) — (3,283 ) (2,813 ) — (2,813 ) Total held-for-sale loans, net 41,622 — 41,622 34,763 — 34,763 Held-for-investment: Single-family 35,885 1,814,008 1,849,893 51,893 1,742,736 1,794,629 Multifamily 10,828 4,220 15,048 17,702 3,747 21,449 Total UPB 46,713 1,818,228 1,864,941 69,595 1,746,483 1,816,078 Cost basis adjustments (1,198 ) 27,752 26,554 (2,148 ) 31,490 29,342 Allowance for loan losses (3,009 ) (3,130 ) (6,139 ) (5,279 ) (3,687 ) (8,966 ) Total held-for-investment loans, net 42,506 1,842,850 1,885,356 62,168 1,774,286 1,836,454 Total loans, net $84,128 $1,842,850 $1,926,978 $96,931 $1,774,286 $1,871,217 On February 2, 2017, we started applying fair value hedge accounting to certain single-family mortgage loans. The fair value hedge accounting related loan basis adjustments are included in the table above. We own both single-family loans, which are secured by one to four unit residential properties, and multifamily loans, which are secured by properties with five or more residential rental units. Our single-family loans are predominantly first lien, fixed-rate loans secured by the borrower's primary residence. Upon acquisition, we classify a loan as either held-for-investment or held-for-sale. Loans that we have the ability and intent to hold for the foreseeable future are classified as held-for-investment. Loans that we intend to securitize using an entity we will consolidate are classified as held-for-investment both prior to and subsequent to their securitization. Otherwise, they will be classified as held-for-sale. Held-for-investment loans are reported on our consolidated balance sheets at their outstanding UPB, net of deferred fees and other cost basis adjustments (including unamortized premiums and discounts, upfront fees, and other pricing adjustments). Loans not classified as held-for-investment are classified as held-for-sale. Held-for-sale loans are reported at lower-of-cost-or-fair-value on our consolidated balance sheets, unless the fair value option is elected. Any excess of a held-for-sale loan's cost over its fair value is recognized as a valuation allowance in mortgage loans gains (losses) on our consolidated statements of comprehensive income, with changes in this valuation allowance also being recorded in mortgage loans gains (losses). Premiums, discounts, and other cost basis adjustments (including lower-of-cost-or-fair-value adjustments) on single-family loans classified as held-for-sale are deferred and not amortized. We elected the fair value option for certain multifamily loans that we intend to securitize and sell to investors. Therefore, these multifamily loans are measured at fair value on a recurring basis, with subsequent gains or losses related to changes in fair value reported in mortgage loans gains (losses) on our consolidated statements of comprehensive income. Cash flows related to loans originally classified as held-for-investment are classified as either investing activities (e.g., principal repayments) or operating activities (e.g., interest payments received from borrowers included within net income (loss)). Cash flows related to loans originally classified as held-for-sale are classified as operating activities. The table below provides details of the UPB of loans we purchased, reclassified from held-for-investment to held-for-sale, and sold. Table 4.2 - Loans Purchased, Reclassified from Held-for-Investment to Held-for-Sale, and Sold (In billions) 2018 2017 Single-family: Purchases Held-for-investment loans $307.7 $343.0 Reclassified from held-for-investment to held-for-sale (1) 21.7 26.2 Sale of held-for-sale loans (2) 10.2 8.7 Multifamily: Purchases Held-for-investment loans 5.0 5.3 Held-for-sale loans 70.3 64.6 Reclassified from held-for-investment to held-for-sale (1) 1.8 1.6 Sale of held-for-sale loans (3) 68.1 61.9 (1) We reclassify loans from held-for-investment to held-for-sale when we no longer have the intent or ability to hold for the foreseeable future. For additional information regarding the fair value of our loans classified as held-for-sale, see Note 15. (2) Our sales of single-family loans reflect the sale of seasoned single-family loans. The sale of seasoned single-family mortgage loans is part of our strategy to mitigate and reduce our holdings of less liquid assets. (3) Our sales of multifamily loans occur primarily through the issuance of multifamily K Certificates and SB Certificates. See Note 3 for more information on our K Certificates and SB Certificates. Interest Income We recognize interest income on an accrual basis except when we believe the collection of principal and interest in full is not reasonably assured, which generally occurs when a loan is three monthly payments or more past due, unless the loan is well secured and in the process of collection based upon an individual loan assessment. A loan is considered past due if a full payment of principal and interest is not received within one month of its due date. Cost basis adjustments on held-for-investment loans are amortized into interest income over the contractual lives of the loans using the effective interest method. A non-accrual loan may be returned to accrual status when the collectability of principal and interest in full is reasonably assured. For single-family loans, we determine that collectability is reasonably assured when we have received payment of principal and interest such that the loan becomes less than three monthly payments past due. For multifamily loans, the collectability of principal and interest is considered reasonably assured based on an analysis of the factors specific to the loan being assessed. Upon a loan's return to accrual status, all previously reversed interest income is recognized and amortization of any basis adjustments into interest income is resumed. 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 (outside of the Enhanced Relief Refinance program) 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. 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. Table 4.3 - Recorded Investment of Single-Family Held-for-Investment Loans by Current LTV Ratios As of December 31, 2018 As of 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 $1,336,310 $214,703 $6,654 $1,557,667 $1,240,224 $214,177 $13,303 $1,467,704 15-year amortizing fixed-rate 251,152 4,522 157 255,831 270,266 7,351 381 277,998 Adjustable-rate 42,117 1,883 7 44,007 48,596 2,963 28 51,587 Alt-A, interest-only, and option ARM 16,498 1,903 559 18,960 21,013 4,256 1,429 26,698 Total single-family loans $1,646,077 $223,011 $7,377 $1,876,465 $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 7.24% and 8.43% as of December 31, 2018 and December 31, 2017 , respectively. 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 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. Table 4.4 - Recorded Investment of Multifamily Held-for-Investment Loans by Credit Quality Indicator (In millions) As of December 31, 2018 As of December 31, 2017 Credit risk profile by internally assigned grade: (1) Pass $14,648 $20,963 Special mention 201 301 Substandard 181 169 Doubtful — — Totals $15,030 $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 following tables present the recorded investment of our single-family and multifamily loans, held-for-investment, by payment status. Table 4.5 - Recorded Investment of Held-for-Investment Loans by Payment Status As of December 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 $1,532,499 $14,683 $3,602 $6,883 $1,557,667 $6,881 15-year amortizing fixed-rate 254,376 1,021 171 263 255,831 263 Adjustable-rate 43,549 287 58 113 44,007 113 Alt-A, interest-only, and option ARM 16,975 793 327 865 18,960 864 Total single-family 1,847,399 16,784 4,158 8,124 1,876,465 8,121 Total multifamily 15,030 — — — 15,030 17 Total single-family and multifamily $1,862,429 $16,784 $4,158 $8,124 $1,891,495 $8,138 As of 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 $2.9 billion and $4.1 billion of loans that were in the process of foreclosure as of December 31, 2018 and December 31, 2017 , respectively. We have the option under our PC master trust agreement to remove loans that underlie our PCs under certain circumstances to resolve an existing or impending delinquency or default. Our practice generally has been to remove loans from PC trusts when the loans have been delinquent for 120 days or more. When we remove loans from PC trusts, we record an extinguishment of the corresponding portion of the debt securities of the consolidated trusts and we reclassify the loans from mortgage loans held-for-investment by consolidated trusts to mortgage loans held-for-investment by Freddie Mac. We removed $7.8 billion and $6.3 billion in UPB of loans from PC trusts (or purchased delinquent loans associated with other mortgage-related guarantees) during the years ended December 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. Table 4.6 - Delinquency Rates (Dollars in millions) December 31, 2018 December 31, 2017 Single-family: Non-credit-enhanced portfolio: Serious delinquency rate 0.83 % 1.16 % Total number of seriously delinquent loans 51,197 81,668 Credit-enhanced portfolio: (1) Primary mortgage insurance: Serious delinquency rate 0.86 % 1.43 % Total number of seriously delinquent loans 15,287 23,275 Other credit protection: (2) Serious delinquency rate 0.31 % 0.53 % Total number of seriously delinquent loans 12,920 16,259 Total Single-family Serious delinquency rate 0.69 % 1.08 % Total number of seriously delinquent loans 75,649 116,662 Multifamily (3) Non-credit-enhanced portfolio: Delinquency rate — % 0.06 % UPB of delinquent loans $2 $24 Credit-enhanced portfolio: Delinquency rate 0.01 % 0.01 % UPB of delinquent loans $28 $16 Total Multifamily Delinquency rate 0.01 % 0.02 % UPB of delinquent loans $30 $40 (1) The credit-enhanced categories are not mutually exclusive, as a single loan may be covered by both primary mortgage insurance and other credit protection. (2) 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. (3) Multifamily delinquency performance is based on the UPB of loans that are two monthly payments or more past due or those in the process of foreclosure. We continue to implement a number of initiatives to refinance and modify single-family loans. As part of these initiatives, we pay various incentives to servicers and borrowers. HAMP ended in December 2016 and HARP ended in December 2018. The relief refinance program has been replaced with the Enhanced Relief Refinance program, which became available in January 2019 for loans originated on or after October 1, 2017. This program provides liquidity for borrowers who are current on their mortgages but are unable to refinance because their LTV ratios exceed our standard refinance limits. 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 on our 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 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 (non-consolidated), other securitization products, and other mortgage-related guarantees. A significant number of unsecuritized single-family loans on our consolidated balance sheets include seriously delinquent and TDR loans that we previously removed from our PC pools. These seriously delinquent and TDR loans historically have a higher associated allowance for loan losses than loans that remain in consolidated trusts. The table below summarizes changes in our allowance for credit losses. Table 4.7 - Details of Allowance for Credit Losses Year Ended December 31, 2018 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 $10,443 $2,968 $52 $13,463 Provision (benefit) for credit losses (861 ) 145 4 (712 ) (1,447 ) 1,350 — (97 ) Charge-offs (2,823 ) (56 ) (6 ) (2,885 ) (4,939 ) (108 ) (4 ) (5,051 ) Recoveries 467 8 — 475 419 6 — 425 Transfers, net (1) 676 (676 ) — — 540 (540 ) — — Other (2) 293 26 — 319 235 4 — 239 Ending balance $3,003 $3,127 $46 $6,176 $5,251 $3,680 $48 $8,979 Multifamily: Beginning balance $28 $7 $9 $44 $18 $2 $15 $35 Provision (benefit) for credit losses (23 ) — (1 ) (24 ) 15 4 (6 ) 13 Charge-offs (6 ) — (2 ) (8 ) (4 ) — — (4 ) Recoveries 3 — — 3 — — — — Transfers, net (1) 4 (4 ) — — (1 ) 1 — — Other (2) — — — — — — — — Ending balance $6 $3 $6 $15 $28 $7 $9 $44 Total: Beginning balance $5,279 $3,687 $57 $9,023 $10,461 $2,970 $67 $13,498 Provision (benefit) for credit losses (884 ) 145 3 (736 ) (1,432 ) 1,354 (6 ) (84 ) Charge-offs (2,829 ) (56 ) (8 ) (2,893 ) (4,943 ) (108 ) (4 ) (5,055 ) Recoveries 470 8 — 478 419 6 — 425 Transfers, net (1) 680 (680 ) — — 539 (539 ) — — Other (2) 293 26 — 319 235 4 — 239 Ending balance $3,009 $3,130 $52 $6,191 $5,279 $3,687 $57 $9,023 (1) Relates to removal of delinquent loans from consolidated trusts and resecuritization after such removal . (2) Primarily includes capitalization of past due interest on modified loans. Loan Losses Determined on a Collective Basis Single-Family Loans We estimate allowance for loan losses on homogeneous pools of single-family loans using a model that evaluates a variety of factors affecting collectability. We review the outputs of this model by considering qualitative factors such as macroeconomic and other factors to see whether the model outputs are consistent with our expectations. Management adjustments may be necessary to take into consideration external factors and current economic events that have occurred but that are not yet reflected in the factors used to derive the model outputs. Significant judgment is exercised in making these adjustments. The homogeneous pools of single-family loans are determined based on common underlying characteristics, including current LTV ratios, trends in home prices, loan product type, and geographic region. We rely upon third-parties to service our loans. At loan delivery, the seller provides us with loan data, which includes characteristics and underwriting information. Each subsequent month, the servicers provide us with monthly loan level servicing data, including delinquency and loss information. Our single-family allowance for loan losses default models produce estimates based on 12 months of loan level performance data, which includes a history of delinquency, foreclosures, foreclosure alternatives, and modifications. Our allowance for loan losses estimate includes projections of: n Loss mitigation activities, including loan modifications for troubled borrowers and the incidence of redefault we have experienced on similar loans that have completed a loan modification and n Defaults we believe are likely to occur as a result of loss events that have occurred through the respective balance sheet date. These projections are based on our recent historical experience and current business practices and require significant management judgment. We validate and update our models and factors to capture changes in actual loss experience, as well as the effects of changes in underwriting practices and in our loss mitigation strategies. In determining our allowance for loan losses, we also consider macroeconomic and other factors that affect the quality of the loans underlying our portfolio, including regional housing trends, applicable home price indices, unemployment and employment dislocation trends, the effects of changes in government policies and programs, consumer credit statistics, and the extent of third-party insurance. Our single-family allowance for loan losses severity is based on the repeat housing sales index and actual REO dispositions, short sales, and third-party sales that incorporate the most recent: n Twelve months of sales experience realized on our distressed property dispositions and n Twelve months of pre-foreclosure expenses on our distressed properties, including REO, short sales, and third-party sales. Our single-family allowance for loan losses severity estimate also captures expectations about recoveries, such as primary mortgage insurance. We use historical trends in home prices in our single-family allowance for loan losses process, primarily through the use of current LTV ratios in our default models and through the use of recent home price sales experience in our severity estimate. However, we do not use a forecast of trends in home prices in our single-family allowance for loan losses process. For loans where foreclosure is probable, we measure impairment based upon an estimate of the fair value of the underlying collateral less estimated disposition costs. Our estimate also considers the effect of historical home price changes on borrower behavior. We apply proceeds from primary mortgage insurance and from other credit enhancements, including repurchase recoveries, entered into contemporaneously with, and in contemplation of, a guarantee or loan purchase transaction as a recovery of our recorded investment in a charged-off loan, up to the amount of loss recognized as a charge-off. Proceeds received in excess of our recorded investment in loans are recorded as a decrease to REO operations expense on our consolidated statements of comprehensive income. We record benefits related to freestanding credit enhancements based on actual losses (e.g., ACIS insurance policies) when realization of our claims is deemed probable and a loss has been recognized on the covered loans. We record benefits for our debt with embedded credit enhancements for which we have not elected the fair value option (e.g., certain STACR debt notes and certain senior subordinate securitization structures) when the realized loss event occurs. We generally record repurchase recoveries on a cash basis due to the uncertainty of the timing and amount of collections of such recoveries. Multifamily Loans Multifamily loans evaluated collectively for impairment are aggregated into book year vintage portfolios. Potential impairment related to these portfolios is measured by benchmarking published historical commercial loan performance data to those vintages based upon available economic data related to multifamily real estate, including apartment vacancy and rental rates. Allowance for Loan Losses Determined on an Individual Basis We consider a loan to be impaired when, based on current information, it is probable that we will not receive all amounts due (including both principal and interest) in accordance with the contractual terms of the original loan agreement. Single-family loans individually evaluated for impairment include TDRs, as well as loans acquired under our financial guarantees with deteriorated credit quality prior to 2010. Multifamily loans individually evaluated for impairment include TDRs, loans three monthly payments or more past due, and loans that are impaired based on management judgment. Troubled Debt Restructurings A modification to the contractual terms of a loan that results in granting a concession to a borrower experiencing financial difficulties is considered a TDR. A concession is deemed granted when, as a result of the restructuring, we do not expect to collect all amounts due, including interest accrued, at the original contractual interest rate. As appropriate, we also consider other qualitative factors in determining whether a concession is deemed granted, including whether the borrower's modified interest rate is consistent with that of a non-troubled borrower. We do not consider restructurings that result in an insignificant delay in payment to be a concession. We generally consider a delay in monthly amortizing payments of three months or less to be insignificant. A concession typically includes one or more of the following being granted to the borrower: n A trial period where the expected permanent modification will change our expectation of collecting all amounts due at the original contract rate; n A delay in payment that is more than insignificant; n A reduction in the contractual interest rate; n Interest forbearance for a period of time that is more than insignificant or forgiveness of accrued but uncollected interest amounts; n Principal forbearance that is more than insignificant; and n Discharge of the borrower's obligation in Chapter 7 bankruptcy. The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs during the years ended December 31, 2018 and December 31, 2017 , 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. Table 4.8 - TDR Activity Year Ended December 31, 2018 2017 (Dollars in millions) Number of Loans Post-TDR Recorded Investment Number of Loans Post-TDR Recorded Investment Single-family: (1) 20 and 30-year or more, amortizing fixed-rate 43,742 $7,084 33,745 $4,818 15-year amortizing fixed-rate 5,944 584 4,569 356 Adjustable-rate 902 140 892 128 Alt-A, interest-only, and option ARM 2,602 432 2,784 495 Total single-family 53,190 8,240 41,990 5,797 Multifamily 1 $15 1 $— (1) The pre-TDR recorded investment for single-family loans initially classified as TDR during the years ended December 31, 2018 and December 31, 2017 was $8.3 billion and $5.8 billion , respectively. The table below presents the volume of our TDR modifications that experienced payment defaults (i.e., loans that became two months delinquent or completed a loss event) during the applicable periods and had completed a modification during the year preceding the payment default. The table presents loans based on their original product category before modification. Table 4.9 - Payment Defaults of Completed TDR Modifications Year Ended December 31, 2018 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 13,548 $1,847 13,973 $2,231 15-year amortizing fixed-rate 565 44 720 57 Adjustable-rate 176 25 225 33 Alt-A, interest-only, and option ARM 1,178 199 1,254 253 Total single-family 15,467 2,115 16,172 2,574 Multifamily — $— — $— In addition to modifications, loans may be classified as TDRs as a result of other loss mitigation activities (i.e., repayment plans, forbearance agreements, or trial period modifications). During the years ended December 31, 2018 and December 31, 2017 , 8,488 and 7,090 , respectively, of such loans (with a post-TDR recorded investment of $1.0 billion and $0.9 billion , respectively) experienced a payment default within a year after the loss mitigation activity occurred. Single-Family Loans Impairment of a single-family loan having undergone a TDR is generally measured as the excess of our recorded investment in the loan over the present value of the expected future cash flows, discounted at the loan's effective interest rate for fixed-rate loans, or at the loan's effective interest rate prior to the restructuring for ARM loans. Our expectation of future cash flows incorporates, among other items, an estimated probability of default which is based on a number of market factors as well as the characteristics of the loan, such as past due status. Subsequent to the restructuring date, interest income is recognized at the modified interest rate, subject to our non-accrual policy as discussed in Interest Income above, with all other changes in the present value of expected future cash flows being recognized as a component of the provision for credit losses on our consolidated statements of comprehensive income. If we determine that foreclosure on the underlying collateral is probable, we measure impairment based upon the fair value of the collateral, as reduced by estimated disposition costs and adjusted for estimated proceeds from insurance and similar sources. Of the single-family loan modifications that were classified as TDRs during 2018 and 2017 respectively: n 12% and 37% involved interest rate reductions and, in certain cases, term extensions; n 24% and 14% involved principal forbearance in addition to interest rate reductions and, in certain cases, term extensions; n The average term extension was 132 and 176 months; and n The average interest rate reduction was 0.2% and 0.6% . Substantially all of our completed single-family loan modifications classified as a TDR during 2018 resulted in a modified loan with a fixed interest rate. However, many of these fixed-rate loans include provisions for the reduced interest rates to remain fixed for the first five years of the modification and then increase at a rate of up to one percent per year until the interest rate has been adjusted to the market rate that was in effect at the time of the modification. Multifamily Loans Multifamily impaired loans include TDRs, loans three monthly payments or more past due, and loans that are deemed impaired based on management judgment. Factors considered by management in determining whether a loan is impaired include the underlying property's operating performance as represented by its current DSCR, available credit enhancements, current LTV ratio, management of the underlying property, and the property's geographic location. Multifamily loans are generally measured individually for impairment based on the fair value of the underlying collateral, as reduced by estimated disposition costs, as the repayment of these loans is generally provided from the cash flows of the underlying collateral and any associated credit enhancement. Except for cases of fraud and certain other types of borrower defaults, most multifamily loans are non-recourse to the borrower. As a result, the cash flows of the underlying property (including any associated credit enhancements) serve as the source of funds for repayment of the loan. Interest income recognition on multifamily impaired loans is subject to our non-accrual policy as discussed in Interest Income above. The assessment as to whether a multifamily loan restructuring is considered a TDR contemplates the unique facts and circumstances of each loan. This assessment considers qualitative factors such as whether the borrower's modified interest rate is consistent with that of a non-troubled borrower having a similar credit profile at the time of modification. In certain cases, for maturing loans we may provide short-term loan extensions of up to one year with no changes to the effective borrowing rate. In other cases, we may make more significant modifications of terms for borrowers experiencing financial difficulty, such as reducing the interest rate, extending the maturity for longer than one year, providing principal forbearance, or some combination of these terms. Impaired Loans The tables below present the UPB, recorded investment, the related allowance for loan losses, average recorded investment, and interest income recognized for individually impaired loans. Table 4.10 - Individually Impaired Loans Balance at December 31, 2018 Balance at December 31, 2017 (In millions) UPB Recorded Investment Associated Allowance UPB Recorded Investment Associated Allowance Single-family: With no allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $3,335 $2,666 N/A $3,768 $2,908 N/A 15-year amortizing fixed-rate 23 22 N/A 24 21 N/A Adjustable-rate 227 226 N/A 259 256 N/A Alt-A, interest-only, and option ARM 1,286 1,083 N/A 1,558 1,297 N/A Total with no allowance recorded 4,871 3,997 N/A 5,609 4,482 N/A With an allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 37,579 36,959 (3,660 ) 47,897 46,783 (5,505 ) 15-year amortizing fixed-rate 703 713 (19 ) 752 757 (24 ) Adjustable-rate 164 162 (8 ) 232 228 (14 ) Alt-A, interest-only, and option ARM 4,867 4,590 (682 ) 7,407 6,987 (1,087 ) Total with an allowance recorded 43,313 42,424 (4,369 ) 56,288 54,755 (6,630 ) Combined single-family: 20 and 30-year or more, amortizing fixed-rate 40,914 39,625 (3,660 ) 51,665 49,691 (5,505 ) 15-year amortizing fixed-rate 726 735 (19 ) 776 778 (24 ) Adjustable-rate 391 388 (8 ) 491 484 (14 ) Alt-A, interest-only, and option ARM 6,153 5,673 (682 ) 8,965 8,284 (1,087 ) Total single-family 48,184 46,421 (4,369 ) 61,897 59,237 (6,630 ) Multifamily : With no allowance recorded: (1) 89 82

Guaratee Activities

Guaratee Activities	12 Months Ended
	Dec. 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. Guarantees to consolidated entities are eliminated in consolidation and therefore are not separately recognized on our consolidated balance sheets. The accounting treatment for guarantees provided to non-consolidated entities or other third parties will depend on whether the guarantee contract qualifies as a financial guarantee. If the guarantee contract qualifies as a financial guarantee and exposes us to incremental credit risk, we will recognize both a guarantee obligation at fair value and the consideration we receive for providing the guarantee, which typically consists of a guarantee asset that represents the fair value of future guarantee fees. As a practical expedient, the measurement of the fair value of the guarantee obligation is set equal to the consideration we receive to provide the guarantee, and no gain or loss is recognized upon issuance of the guarantee. Subsequently, we recognize changes in the fair value of the guarantee asset in current period earnings and amortize the guarantee obligation into earnings as we are released from risk under the guarantee. We also recognize a reserve for guarantee losses when it is probable that a loss has been incurred under the guarantee. If the guarantee contract provided to non-consolidated entities does not qualify as a financial guarantee, that contract will generally be accounted for as a derivative and measured at fair value on our consolidated financial statements. Guarantee Activities Our principal guarantee activities include the following: Securitization Activity Guarantees For substantially all of our securitization transactions, we guarantee the principal and interest payments on some or all of the issued beneficial interests. Typically, these guarantees will cover the senior classes of beneficial interests issued by the securitization trust(s). Securitization activity guarantees provided to non-consolidated trusts will generally be accounted for, and qualify as, financial guarantees. Our maximum exposure on these guarantees is generally limited to the UPB of the beneficial interests that we have guaranteed. Other Mortgage-related Guarantees In certain circumstances, we provide a guarantee of mortgage-related assets held by third parties, in exchange for a guarantee fee, without securitizing those assets. These guarantees consist of the following: n Long-term standby commitments of single-family loans which obligate us to purchase the covered loans when they become seriously delinquent. Periodically, certain of our customers seek to terminate long-term standby commitments and simultaneously enter into guarantor swap transactions to obtain our PCs backed by many of the same loans. During both 2018 and 2017 , we guaranteed $0.5 billion of loans under new long-term standby commitments and n Guarantees of multifamily bonds, including guarantees that require us to advance funds to enable others to repurchase any tendered tax-exempt and related taxable bonds that are unable to be sold. The vast majority of these guarantees were guarantees of multifamily housing revenue bonds that were issued by HFAs. No advances under these guarantees were outstanding at both December 31, 2018 and December 31, 2017 . During 2018 and 2017 , we guaranteed $0.6 billion and $1.1 billion , respectively, of multifamily bonds. Our other mortgage-related guarantees will generally be accounted for, and qualify as, financial guarantees. Our maximum exposure on these guarantees is limited to the UPB of the mortgage-related assets that we have guaranteed. Other Guarantees Measured at Fair Value Other guarantees that do not qualify as financial guarantees are generally accounted for as derivative instruments and measured at fair value. These guarantees primarily include: n Certain guarantees related to our securitization and guarantee activities that do not qualify as financial guarantees; n Certain market value guarantees, including written options and written swaptions; and n Guarantees of third-party derivative instruments. Other Indemnifications In connection with certain business transactions, we may provide indemnification to counterparties for claims arising out of breaches of certain obligations (e.g., those arising from representations and warranties) in contracts entered into in the normal course of business. Our assessment is that the risk of any material loss from such a claim for indemnification is remote and there are no significant probable and estimable losses associated with these contracts. In addition, we provided indemnification for litigation defense costs to certain former officers who are subject to ongoing litigation. See Note 16 for information on ongoing litigation. These indemnification obligations will generally be accounted for and qualify as financial guarantees. The recognized liabilities on our consolidated balance sheets related to indemnifications were not significant at both December 31, 2018 and December 31, 2017 . 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. Table 5.1 - Financial Guarantees As of December 31, 2018 As of December 31, 2017 ( Dollars in millions , terms in years) Maximum (1) Recognized (2) Maximum Maximum (1) Recognized (2) Maximum Single-family: Securitization activity guarantees $17,783 $220 40 $10,817 $120 40 Other mortgage-related guarantees 6,139 167 30 6,264 190 31 Total single-family $23,922 $387 $17,081 $310 Multifamily: Securitization activity guarantees $221,245 $2,746 40 $188,768 $2,305 40 Other mortgage-related guarantees 9,779 428 35 9,888 466 36 Total multifamily $231,024 $3,174 $198,656 $2,771 Other guarantees measured at fair value $16,251 $242 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 consolidated balance sheets. This amount excludes our reserve for guarantee losses, which totaled $52 million and $57 million as of December 31, 2018 and December 31, 2017 , respectively, and is included within other liabilities on our consolidated balance sheets. For other guarantees measured at fair value, this amount represents the fair value of the contract.

Credit Enhancements

Credit Enhancements	12 Months Ended
	Dec. 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 associated with mortgage loans or guarantees recognized on our consolidated balance sheets or embedded in debt instruments recognized on our consolidated balance sheets. Mortgage Loan Credit Enhancements Attached mortgage loan credit enhancements are obtained contemporaneously with, and in contemplation of, the origination of the underlying mortgage loans, and effectively travel with the loan upon sale. Attached credit enhancements include primary mortgage insurance, which provides us with loan-level protection up to a specified percentage. Expected recoveries from attached credit enhancements are considered in determining the allowance for loan losses, resulting in a reduction in the recognized provision for credit losses by the amount of the expected credit enhancement recoveries. See Note 4 for additional information concerning the determination of our allowance for credit losses. Freestanding mortgage loan credit enhancements are contracts that are entered into separately from the origination of the mortgage loans or entered into in conjunction with some other transaction and are legally detachable and separately exercisable. Freestanding credit enhancements include ACIS and STACR Trust transactions, which are accounted for separately from the underlying mortgage loans. ACIS transactions are insurance policies we purchase, generally underwritten by a group of insurers and reinsurers, that provide credit protection for certain specified credit events that occur on a reference pool of single-family mortgage loans. Under the ACIS contracts, we pay insurers and reinsurers premiums for insurance coverage. Each month, we accrue for our obligation to make such payments for all tranches covered by the ACIS contracts. When specific credit events occur, we generally receive compensation from the insurance policy up to an aggregate limit based on actual losses. We require our counterparties to partially collateralize their exposure to reduce the risk that we will not be reimbursed for our claims under the policies. STACR Trust transactions are similar to STACR debt notes as discussed in Debt with Embedded Credit Enhancements below. The key difference between STACR Trust and STACR debt note transactions is that the notes in STACR Trust transactions are issued by a third-party bankruptcy-remote trust. Under this structure, we pay a credit premium and certain shortfalls on the investment collateral account to the trust and receive payments from the trust as a result of defined credit events on the reference pool. Each month, we accrue for our obligation to make such payments to the trust. The trust issues the notes and makes periodic payments of principal and interest on the notes to investors, and we receive payments from the trust that otherwise would have been made to the noteholders to the extent there are certain defined credit events on the mortgages in the related reference pool. The note balances are reduced by the amount of the payments to us. Expected recoveries for credit losses covered under ACIS contracts based on actual losses and STACR Trust transactions are recognized separately in other assets on our consolidated balance sheets, with an offset to other income when realization of our claim for recovery is deemed probable. We also have various other freestanding credit enhancements that provide credit protection on our single-family loans, where we recognize a separate credit enhancement asset in other assets on our consolidated balance sheets upon acquisition of coverage. If the coverage is acquired as part of a transaction in which we also acquire mortgage loans, the credit enhancement asset is recognized based on the relative fair values of the consideration paid for the mortgage loan and the credit enhancement. If the coverage is acquired as a standalone transaction, the credit enhancement asset is recognized at cost. The credit enhancement assets are amortized over the life of the contract. Expected recoveries for these other types of freestanding credit enhancements are recognized separately in other assets on our consolidated balance sheets, with an offset to other income when realization of our claim for recovery is deemed probable. The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to our mortgage loan credit enhancements. For information about counterparty credit risk associated with mortgage insurers, see Note 14 . Table 6.1 - Mortgage Loan Credit Enhancements December 31, 2018 December 31, 2017 (In millions) Total Current and Protected UPB (1) Maximum Coverage Total Current and Protected UPB (1) Maximum Coverage Single-family: Primary mortgage insurance $378,594 $96,996 $334,189 $85,429 ACIS transactions (2) 807,885 9,123 625,082 6,933 STACR Trust transactions 161,152 5,026 — — Other 18,136 5,389 7,233 4,892 Total mortgage loan credit enhancements $116,534 $97,254 (1) Underlying loans may be covered by more than one form of credit enhancement. (2) As of December 31, 2018 and December 31, 2017, our counterparties posted collateral on our ACIS transactions of $1.5 billion and $1.1 billion , respectively. Guarantee Credit Enhancements In connection with our securitization activity guarantees, we obtain credit enhancement through the creation of unguaranteed subordinated securities. In these transactions, the securities that are subordinate to our guarantee provide protection by absorbing first losses prior to us having to perform on our guarantee of the senior securities. We recognize a reserve for guarantee losses when it is probable that a loss has been incurred under our guarantee, which occurs only when losses exceed subordination. Our other guarantee credit enhancements are primarily freestanding contracts that are accounted for separately from the associated guarantee. For these types of credit enhancements, we recognize a separate credit enhancement asset in other assets on our consolidated balance sheets upon acquisition of coverage and subsequently amortize the asset over the life of the contract. Expected recoveries under these contracts are recognized separately in other assets on our consolidated balance sheets, with an offset to other income when realization of our claim for recovery is deemed probable. Table 6.2 - Guarantee Credit Enhancements December 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) $16,271 $2,933 $8,953 $1,734 Other 1,226 1,226 1,390 1,390 Total single-family 4,159 3,124 Multifamily: Subordination (non-consolidated VIEs) 220,733 35,661 187,299 30,689 Other 2,349 815 1,833 726 Total multifamily 36,476 31,415 Total guarantee credit enhancements $40,635 $34,539 (1) Underlying loans may be covered by more than one form of credit enhancement. 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 credit enhancements, maximum coverage represents the remaining amount of loss recovery that is available subject to the terms of counterparty agreements. The Multifamily segment also has other credit enhancements in the form of collateral posting requirements, indemnification, pool insurance, bond insurance, recourse, and other similar arrangements. These credit enhancements, along with the proceeds received from the sale of the underlying mortgage collateral, are designed to recover all or a portion of our losses on our mortgage loans or the amounts paid under our financial guarantee contracts. Our historical losses and related recoveries pursuant to these agreements have not been significant and therefore these other types of credit enhancements are excluded from the table above. Debt with Embedded Credit Enhancements We also transfer credit risk after our acquisition or guarantee of mortgage assets by either issuing unsecured debt with embedded credit enhancements or recognizing debt of consolidated VIEs that includes structural credit enhancements. Unsecured Debt with Embedded Credit Enhancements For certain of our unsecured debt issuances, we create a reference pool of mortgage assets (generally loans) to which we currently have credit risk exposure and an associated securitization-like structure with notional credit risk positions. To the extent a specified credit event occurs on the mortgage assets in the reference pool, the outstanding balance of our debt obligations is written down, thereby reducing our future principal and interest payment obligations. The principal types of unsecured debt with embedded credit enhancements are single-family STACR debt notes and multifamily SCR notes. Most of our STACR debt notes are recorded as other debt on our consolidated balance sheets and accounted for at amortized cost. When the realized loss events (e.g., third-party foreclosure sale, short sale, or REO disposition) occur on the underlying loans in the reference pool, the STACR debt notes are written down and the benefits are recognized as debt gains on our consolidated statements of comprehensive income. The structure of multifamily SCR notes is similar to STACR debt notes, although the mortgage assets within the reference pool may be loans or multifamily housing revenue bonds to which we have credit exposure. While our SCR notes are recorded as other debt on our consolidated balance sheets, these debt obligations are measured at fair value, as we elected the fair value option for them. Fair value changes are recorded in debt gains (losses) on our consolidated statement of comprehensive income. Consolidated Debt with Structural Credit Enhancements Similar to our non-consolidated VIEs, we obtain credit enhancement in our KT Certificates and certain of our consolidated senior subordinate securitization structures and other securitization products through the creation of unguaranteed subordinated securities. These unguaranteed subordinated securities will absorb first losses on the underlying loans prior to us performing pursuant to our guarantee obligation. The unguaranteed subordinated debt securities held by third parties are recorded as debt of consolidated trusts on our consolidated balance sheets and accounted for at amortized cost. When losses are realized on the loans underlying the securities, the subordinated debt is written down and the benefits are recognized as debt gains on our consolidated statements of comprehensive income. The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to debt with embedded credit enhancements. Table 6.3 - Debt with Embedded Credit Enhancements December 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 $605,263 $17,596 $604,356 $17,788 Subordination (consolidated VIEs) 25,006 1,036 3,330 179 Total single-family 18,632 17,967 Multifamily: SCR notes 2,667 133 2,732 137 Subordination (consolidated VIEs) 2,700 280 1,800 180 Total multifamily 413 317 Total debt with embedded credit enhancements $19,045 $18,284 (1) Underlying loans may be covered by more than one form of credit enhancement. For STACR debt notes and SCR 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 notes, maximum coverage amount represents the outstanding balance of the STACR debt notes and SCR 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	12 Months Ended
	Dec. 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. Table 7.1 - Investments in Securities (In millions) As of December 31, 2018 As of December 31, 2017 Trading securities $35,548 $40,721 Available-for-sale securities 33,563 43,597 Total $69,111 $84,318 We currently classify and account for our securities as either available-for-sale or trading. As of December 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. Securities classified as available-for-sale and trading are reported at fair value with changes in fair value included in AOCI, net of income taxes and investment securities gains (losses), respectively. See Note 15 for more information on how we determine the fair value of securities. We generally record purchases and sales of securities on the trade date when the related forward commitments are exempt from the accounting guidance for derivatives. Alternatively, we record purchases and sales of securities on the expected settlement date, with a corresponding derivative recorded on the trade date, when the related forward commitments are not exempt from the accounting guidance for derivatives. We include interest on securities on our consolidated statements of comprehensive income. For most of our securities, interest income is recognized using the effective interest method, which considers the contractual terms of the security. Deferred items, including premiums, discounts, and other basis adjustments, are amortized into interest income over the contractual lives of the securities. For certain securities, interest income is recognized using the prospective effective interest method. We apply this method to securities that: n Can contractually be prepaid or otherwise settled in such a way that we may not recover substantially all of our recorded investment; n Are not of high credit quality at acquisition; or n Have been determined to be other-than-temporarily impaired. Under this method, we recognize as interest income, over the expected life of the securities, the excess of the cash flows expected to be collected over the securities' carrying value. We update our estimates of expected cash flows periodically and recognize changes in the calculated effective interest rate on a prospective basis. For securities classified as trading or available-for-sale, we classify the cash flows as investing activities because we hold these securities for investment purposes. In cases where the transfer of a security represents a secured borrowing, we classify the related cash flows as financing activities. Freddie Mac mortgage-related securities include mortgage-related securities issued or guaranteed by Freddie Mac. In prior periods, certain of these securities that were issued by third-party trusts but guaranteed by Freddie Mac were classified as non-agency mortgage-related securities. Prior periods have been revised to conform to the current period presentation. Trading Securities The table below presents the estimated fair values by major security type for our securities classified as trading. Our non-mortgage-related securities primarily consist of investments in U.S. Treasury securities. Table 7.2 - Trading Securities (In millions) As of December 31, 2018 As of December 31, 2017 Mortgage-related securities: Freddie Mac $13,821 $14,300 Other agency 2,551 3,574 Non-agency RMBS 1 1 Non-agency CMBS — 27 Total mortgage-related securities 16,373 17,902 Non-mortgage-related securities 19,175 22,819 Total fair value of trading securities $35,548 $40,721 For trading securities held at December 31, 2018 , 2017, and 2016, we recorded net unrealized gains (losses) of ($479) million , ($365) million , and ($791) million during 2018, 2017 and 2016, respectively. Available-for-Sale Securities At both December 31, 2018 and December 31, 2017, all available-for-sale securities were mortgage-related 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. Table 7.3 - Available-for-Sale Securities As of December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $30,407 $320 $— ($528 ) $30,199 Other agency 1,675 38 — (7 ) 1,706 Non-agency RMBS 1,124 280 — (1 ) 1,403 Non-agency CMBS 18 — — — 18 Obligations of states and political subdivisions 236 2 — (1 ) 237 Total available-for-sale securities $33,460 $640 $— ($537 ) $33,563 As of December 31, 2017 Amortized Cost Gross Gross Unrealized Losses Fair Value (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $37,109 $521 $— ($464 ) $37,166 Other agency 2,008 56 — (11 ) 2,053 Non-agency RMBS 3,012 927 (5 ) (1 ) 3,933 Non-agency CMBS 97 — (9 ) — 88 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 December 31, 2018 scheduled to contractually mature after ten years was $29.1 billion , with an additional $3.8 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 a gross unrealized loss position for less than 12 months, or 12 months or greater. Table 7.4 - Available-for-Sale Securities in a Gross Unrealized Loss Position As of December 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 $4,259 ($38 ) $14,751 ($490 ) Other agency 351 (1 ) 638 (6 ) Non-agency RMBS — — 5 (1 ) Non-agency CMBS — — — — Obligations of states and political subdivisions 43 (1 ) 1 — Total available-for-sale securities in a gross unrealized loss position $4,653 ($40 ) $15,395 ($497 ) As of 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 $11,329 ($109 ) $9,251 ($355 ) Other agency 40 — 1,079 (11 ) Non-agency RMBS 5 — 105 (6 ) Non-agency CMBS 34 — 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 December 31, 2018 , total gross unrealized losses on available-for-sale securities were $0.5 billion . The gross unrealized losses relate to 350 separate securities. We purchase multiple lots of individual securities at different times and at different costs. We determine gross unrealized gains and gross unrealized losses by specifically evaluating investment positions at the lot level; therefore, some of the lots we hold for an individual security may be in a gross unrealized gain position, while other lots for that security may be in a gross unrealized loss position. Impairment Recognition on Investments in Securities We evaluate available-for-sale securities in an unrealized loss position as of the end of each quarter to determine whether the decline in value is other-than-temporary. An unrealized loss exists when the fair value of an individual lot is less than its amortized cost basis. As discussed further below, certain other-than-temporary impairment losses are recognized in earnings. Other-than-temporary impairment is considered to have occurred if the fair value of the security lot is less than its amortized cost basis and we either intend to sell the security or more likely than not will be required to sell the security lot prior to recovery of its amortized cost basis. Under these circumstances, the security's entire decline in fair value is deemed to be other-than-temporary and is recorded within our consolidated statements of comprehensive income as investment securities gains (losses). If we do not intend to sell the security or we believe it is not more likely than not that we will be required to sell prior to recovery of the security's amortized cost basis, we recognize only the credit component of other-than-temporary impairment in earnings and the amounts attributable to all other factors are recorded in AOCI. The credit component represents the amount by which the present value of cash flows expected to be collected from the security is less than its amortized cost basis. The present value of cash flows expected to be collected represents our estimate of future contractual cash flows that we expect to collect, discounted at the security's original effective interest rate or, if applicable, the effective interest rate determined based on significantly improved cash flows subsequent to a prior other-than-temporary impairment. The evaluation of whether unrealized losses on available-for-sale securities are other-than-temporary requires significant management judgments, assumptions, and consideration of numerous factors. We perform an evaluation on a security lot basis considering all available information. The relative importance of this information varies based on the facts and circumstances surrounding each security, as well as the economic environment at the time of assessment. Freddie Mac and Other Agency Securities The principal and interest on these securities are guaranteed. We generally hold these securities that are in an unrealized loss position to recovery. As a result, unless we intend to sell the security, we consider unrealized losses on these securities to be temporary. Non-Agency Residential Mortgage-Backed Securities We believe the unrealized losses on the non-agency RMBS we hold are mainly attributable to poor underlying collateral performance, limited liquidity, and risk premiums. In evaluating securities for impairment, we use an internal model that considers the credit performance of the underlying collateral and incorporates assumptions about the economic environment. Our analysis is subject to change as new information regarding delinquencies, severities, loss timing, prepayments, and other factors becomes available. While it is possible that, under certain conditions, collateral losses on our remaining available-for-sale securities for which we have not recorded an impairment charge could exceed our credit enhancement levels and a principal or interest loss could occur, we do not believe that those conditions were likely as of December 31, 2018 . Other-than-Temporary Impairments We recognized $12 million , $18 million , and $191 million in net impairment of available-for-sale securities in earnings during 2018, 2017, and 2016, respectively. For our available-for-sale securities in an unrealized loss position at December 31, 2018, we have asserted that we have no intent to sell or 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 $0.8 billion , $1.1 billion , and $4.1 billion as of 4Q 2018, 4Q 2017, and 4Q 2016, respectively. Realized Gains and Losses on Sales of Available-for-Sale Securities Gains and losses on the sale of securities are included in investment securities gains (losses), including those gains (losses) reclassified into earnings from AOCI. We use the specific identification method for determining the cost basis of a security in computing the gain or loss. The table below summarizes the gross realized gains and gross realized losses from the sale of available-for-sale securities. Table 7.5 - Gross Realized Gains and Gross Realized Losses from Sales of Available-for-Sale Securities Year Ended December 31, (In millions) 2018 2017 2016 Gross realized gains $627 $1,792 $1,062 Gross realized losses (303 ) (66 ) (91 ) Net realized gains $324 $1,726 $971 Non-Cash Investing and Financing Activities We account for transactions where we obtain beneficial interests as consideration for transfers of securities to non-consolidated trusts as non-cash transactions when these transactions do not involve exchanges of gross cash flows. During the years ended December 31, 2018 and December 31, 2017, we obtained beneficial interests of $0.1 billion and $3.8 billion , respectively, related to such transactions. We did not have such activity during the year ended December 31, 2016.

Debt Securities and Subordinate

Debt Securities and Subordinated Borrowings	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT SECURITIES AND SUBORDINATED BORROWINGS	Debt Securities and Subordinated Borrowings The table below summarizes the interest expense per our consolidated statements of comprehensive income and the balances of total debt, net per our consolidated balance sheets. Table 8.1 - Total Debt, Net Balance, Net Interest Expense As of December 31, For The Year Ended December 31, (In millions) 2018 2017 2018 2017 2016 Debt securities of consolidated trusts held by third parties $1,792,677 $1,720,996 $51,529 $47,656 $44,599 Other debt: Short-term debt 51,080 73,069 1,193 615 350 Long-term debt 201,193 240,565 5,311 5,372 5,837 Total other debt 252,273 313,634 6,504 5,987 6,187 Total debt, net $2,044,950 $2,034,630 $58,033 $53,643 $50,786 On November 30, 2017, we started applying fair value hedge accounting to certain debt issuances. The fair value hedge accounting related basis adjustments are included in the table above. Debt securities that we issue are classified as either debt securities of consolidated trusts held by third parties or other debt. We issue other debt to fund our operations. With the exception of certain debt for which we elected the fair value option or designated in a qualifying fair value hedge relationship, our debt is reported at amortized cost. Deferred items, including premiums, discounts, issuance costs, and hedging-related basis adjustments, are reported as a component of total debt, net. These items are amortized and reported through interest expense using the effective interest method over the contractual life of the related indebtedness. Amortization of premiums, discounts, and issuance costs begins at the time of debt issuance. Amortization of hedging-related basis adjustments begins upon the discontinuation of the related hedge relationship. We elected the fair value option on debt that contains embedded derivatives, including certain STACR and SCR debt notes. For additional information on STACR and SCR debt notes, see Note 6 . Changes in the fair value of these debt obligations are recorded in debt gains (losses), with any upfront costs and fees incurred or received in exchange for the issuance of the debt being recognized in earnings as incurred and not deferred. Related interest expense continues to be reported as interest expense based on the stated terms of the debt securities. For additional information on our election of the fair value option, see Note 15 . When we repurchase or call outstanding debt securities, we recognize the difference between the amount paid to redeem the debt security and the carrying value in earnings as a component of debt gains (losses). Contemporaneous transfers of cash between us and a creditor in connection with the issuance of a new debt security and satisfaction of an existing debt security are accounted for as either an extinguishment or a modification of an existing debt security. If the debt securities have substantially different terms, the transaction is accounted for as an extinguishment of the existing debt security. The issuance of a new debt security is recorded at fair value, fees paid to the creditor are expensed as incurred, and fees paid to third parties are deferred and amortized into interest expense over the life of the new debt security using the effective interest method. If the terms of the existing debt security and the new debt security are not substantially different, the transaction is accounted for as a modification of the existing debt. Fees paid to the creditor are deferred and amortized into interest expense over the life of the modified debt security using the effective interest method and fees paid to third parties are expensed as incurred. We also engage in dollar roll transactions whereby we enter into an agreement to sell and subsequently repurchase (or purchase and subsequently resell) agency securities. When these transactions involve securities issued by consolidated entities, they are treated as issuances and extinguishments of debt. Under the Purchase Agreement, without the prior written consent of Treasury, we may not incur indebtedness that would result in the par value of our aggregate indebtedness exceeding 120% of the amount of mortgage assets we are allowed to own on December 31 of the immediately preceding calendar year. Because of this debt limit, we may be restricted in the amount of debt we are allowed to issue to fund our operations. Under the Purchase Agreement, the amount of our "indebtedness" is determined without giving effect to the January 1, 2010 change in the accounting guidance related to transfers of financial assets and consolidation of VIEs. Therefore, "indebtedness" generally does not include debt securities of consolidated trusts held by third parties. We also cannot become liable for any subordinated indebtedness without the prior consent of Treasury. See Note 2 for information regarding restrictions on the amount of mortgage-related securities that we may own. Our debt cap under the Purchase Agreement was $346.1 billion in 2018 and declined to $300.0 billion on January 1, 2019. As of December 31, 2018 , our aggregate indebtedness for purposes of the debt cap was $255.7 billion . Our aggregate indebtedness primarily includes the par value of other short- and long-term debt. Debt Securities of Consolidated Trusts Held By Third Parties Debt securities of consolidated trusts held by third parties represents our liability to third parties that hold beneficial interests in our consolidated securitization trusts. Debt securities of consolidated trusts held by third parties are subject to prepayment risk as their payments are based upon the performance of the underlying mortgage loans that may be prepaid by the related mortgage borrower at any time without penalty. The table below summarizes the debt securities of consolidated trusts held by third parties based on underlying loan product type. Table 8.2 - Debt Securities of Consolidated Trusts Held by Third Parties As of December 31, 2018 As of 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 2019-2057 $1,389,113 $1,426,060 3.72 % 2018 - 2055 $1,278,911 $1,318,350 3.68 % 20-year fixed-rate 2019-2039 70,547 72,354 3.43 % 2018 - 2038 73,866 76,022 3.43 % 15-year fixed-rate 2019-2034 240,310 244,587 2.89 % 2018 - 2033 260,633 266,241 2.86 % Adjustable-rate 2019-2049 38,361 39,153 3.12 % 2018 - 2048 47,169 48,220 2.85 % Interest-only 2026-2048 5,322 5,386 4.41 % 2026 - 2041 7,303 7,379 3.74 % FHA/VA 2019-2046 720 736 4.78 % 2018 - 2046 847 866 4.85 % Total Single-family 1,744,373 1,788,276 1,668,729 1,717,078 Multifamily 2019-2047 4,365 4,401 4.02 % 2019 - 2047 3,876 3,918 3.99 % Total debt securities of consolidated trusts held by third parties $1,748,738 $1,792,677 $1,672,605 $1,720,996 (1) Includes $755 million and $639 million at December 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 rate for debt securities of consolidated trusts held by third parties was 3.07% and 2.84% as of December 31, 2018 and December 31, 2017, respectively. Other Short-Term Debt As indicated in the table below, a majority of other short-term debt consisted of discount notes and Reference Bills securities, paying only principal at maturity. Discount notes, Reference Bills securities, and medium-term notes are unsecured general corporate obligations. 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. Certain medium-term notes that have original maturities of one year or less are classified as other short-term debt for purposes of this presentation. The table below summarizes the balances and effective interest rates for other short-term debt. Table 8.3 - Other Short-Term Debt As of December 31, 2018 As of December 31, 2017 (Dollars in millions) Par Value Carrying Amount Weighted Average Effective Rate Par Value Carrying Amount Weighted Average Effective Rate Other short-term debt: Discount notes and Reference Bills $28,787 $28,621 2.36 % $45,717 $45,596 1.19 % Medium-term notes 16,440 16,440 2.10 17,792 17,792 1.03 Securities sold under agreements to repurchase 6,019 6,019 2.40 9,681 9,681 1.06 Total other short-term debt $51,246 $51,080 2.28 % $73,190 $73,069 1.14 % Other Long-Term Debt The table below summarizes our other long-term debt. Table 8.4 - Other Long-Term Debt As of December 31, 2018 As of December 31, 2017 (Dollars in millions) Contractual Maturity Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Par Value Carrying Amount Weighted Average Effective Rate (2) Other long-term debt: Other senior debt: Fixed-rate: Medium-term notes — callable 2019-2037 $78,810 $78,786 2.01 % $86,311 $86,284 1.47 % Medium-term notes — non-callable 2019-2028 4,761 4,811 1.83 % 10,839 10,973 1.40 % Reference Notes securities — non-callable 2019-2032 65,362 65,385 2.39 % 79,991 80,019 2.17 % STACR and SCR 2031-2042 133 136 12.76 % 137 140 12.77 % Variable-rate: Medium-term notes — callable 2019-2033 26,396 26,364 2.33 % 27,510 27,475 1.95 % Medium-term notes — non-callable 2019-2026 5,325 5,325 1.47 % 14,746 14,746 0.68 % STACR 2023-2042 17,596 17,868 5.99 % 17,788 18,198 5.00 % Zero-coupon: Medium-term notes — non-callable 2019-2039 5,009 2,428 6.29 % 5,141 2,415 5.94 % Other 2047-2048 — 2 0.63 % — — — % Hedging-related basis adjustments N/A (215 ) N/A (79 ) Total other senior debt 203,392 200,890 242,463 240,171 Other subordinated debt: Fixed-rate — — — % 121 121 7.83 % Zero-coupon 2019 332 303 10.51 % 332 273 10.51 % Total other subordinated debt 332 303 453 394 Total other long-term debt $203,724 $201,193 2.58 % $242,916 $240,565 2.04 % (1) Represents par value, net of associated discounts or premiums and issuance costs. Includes $4.4 billion and $5.2 billion at December 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, excluding hedge-related basis adjustments. A portion of our other long-term debt is callable. Callable debt gives us the option to redeem the debt security at par on one or more specified call dates or at any time on or after a specified call date. The table below summarizes the contractual maturities of other long-term debt securities at December 31, 2018 . Table 8.5 - Contractual Maturities of Other Long-Term Debt and Debt Securities (In millions) Par Value Annual Maturities Other long-term debt (excluding STACR and SCR): 2019 $58,002 2020 42,296 2021 30,898 2022 20,802 2023 15,929 Thereafter 18,068 Debt securities of consolidated trusts held by third parties, STACR, and SCR (1) 1,766,467 Total 1,952,462 Net discounts, premiums, debt issuance costs, hedge-related, and other basis adjustments (2) 41,408 Total debt securities of consolidated trusts held by third parties, STACR, SCR and other long-term debt $1,993,870 (1) 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 without penalty. (2) Other basis adjustments primarily represent changes in fair value on debt where we have elected the fair value option. Subordinated Debt Interest and Principal Payments The terms of certain of our subordinated debt securities provide for us to defer payments of interest in the event we fail to maintain specified capital levels. However, in a September 23, 2008 statement concerning the conservatorship, the Director of FHFA stated that we would continue to make interest and principal payments on our subordinated debt, even if we fail to maintain required capital levels.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	Derivatives On October 1, 2017, we adopted accounting guidance that modifies the presentation of hedge accounting results disclosed on our consolidated statements of comprehensive income and in the notes to the consolidated financial statements. For qualifying fair value hedge relationships, the modifications include presenting all changes in the fair value of the derivative hedging instrument in the same consolidated statements of comprehensive income line used to present the earnings effect of the hedged item. For qualifying fair value hedge relationships, the modifications also include separate disclosures of cumulative basis adjustments and their impact to the hedged item's carrying value. Derivatives are reported at their fair value on our consolidated balance sheets. Derivatives in a net asset position, including net derivative interest receivable or payable, are reported as derivative assets, net. Similarly, derivatives in a net liability position, including net derivative interest receivable or payable, are reported as derivative liabilities, net. We offset fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against fair value amounts recognized for derivative instruments executed with the same counterparty under a master netting agreement. Changes in fair value and interest accruals on derivatives not in qualifying fair value hedge relationships are recorded as derivative gains (losses) on our consolidated statements of comprehensive income. Non-cash collateral held is not recognized on our consolidated balance sheets as we do not obtain effective control over the collateral, and non-cash collateral posted is not de-recognized from our consolidated balance sheets as we do not relinquish effective control over the collateral. Therefore, non-cash collateral held or posted is not presented as an offset against derivative assets or derivative liabilities on our consolidated balance sheets. We evaluate whether financial instruments that we purchase or issue contain embedded derivatives. We generally elect to measure newly acquired or issued financial instruments that contain embedded derivatives at fair value, with changes in fair value recorded in earnings. On the consolidated statements of cash flows, cash flows related to the acquisition and termination of derivatives, other than forward commitments, are generally classified in investing activities. Cash flows related to forward commitments are classified within the section of the consolidated statements of cash flows in accordance with the cash flows of the financial instruments to which they relate. 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 credit 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 include 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. Written Options and Swaptions Written call and put swaptions are sold to counterparties allowing them the option to enter into receive-fixed and pay-fixed interest rate swaps, respectively. Written call and put options on mortgage-related securities give the counterparty the right to execute a contract under specified terms, which generally occurs when we are in a liability position. We may, from time to time, write other derivative contracts such as interest-rate futures. Commitments We routinely enter into commitments that include commitments to: n Purchase and sell investments in securities; n Purchase and sell loans; and n Purchase and extinguish or issue debt securities of our consolidated trusts. Most of these commitments are considered derivatives and therefore are subject to the accounting guidance for derivatives and hedging. Credit Derivatives We have purchased loans containing debt cancellation contracts, which provide for mortgage debt or payment cancellation for borrowers who experience unanticipated losses of income dependent on a covered event. The rights and obligations under these agreements have been assigned to the servicers. However, in the event the servicer does not perform as required by contract, we would be obligated under our guarantee to make the required contractual payments. Hedge Accounting Fair Value Hedges On February 2, 2017, we started applying fair value hedge accounting to certain single-family mortgage loans where we hedge the changes in fair value of these loans attributable to the designated benchmark interest rate (i.e., LIBOR), using LIBOR-based interest-rate swaps. The hedge period is one day, and we re-balance our hedge relationships on a daily basis. In addition, on November 30, 2017, we started applying fair value hedge accounting to certain issuances of debt where we hedge the changes in fair value of the debt attributable to the designated benchmark interest rate (i.e., LIBOR), using LIBOR-based interest-rate swaps. We apply hedge accounting to qualifying hedge relationships. A qualifying hedge relationship exists when changes in the fair value of a derivative hedging instrument are expected to be highly effective in offsetting changes in the fair value of the hedged item attributable to the risk being hedged during the term of the hedge relationship. No amounts have been excluded from the assessment of hedge effectiveness. To assess hedge effectiveness, we use a statistical regression analysis. At inception of the hedge relationship, we prepare formal contemporaneous documentation of our risk management objective and strategies for undertaking the hedge. 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 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). Changes in the fair value of the hedged item attributable to the risk being hedged are recognized as a cumulative basis adjustment against the mortgage loans and debt. The cumulative basis adjustments are amortized to the same consolidated statements of comprehensive income line item used to present the changes in fair value of the hedged item using the effective interest method considering the contractual terms of the hedged item, with amortization beginning no later than the period in which hedge accounting was discontinued. 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. If it becomes probable the originally forecasted transaction will not occur, the associated deferred gain or loss in AOCI would be reclassified to earnings immediately. Amounts reclassified from AOCI are recorded in interest expense. In the years ended December 31, 2018 and December 31, 2017 , we reclassified from AOCI into earnings, losses of $133 million and $164 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 consolidated balance sheets. Table 9.1 - Derivative Assets and Liabilities at Fair Value As of December 31, 2018 As of 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 $145,386 $1,380 ($181 ) $213,717 $2,121 ($1,224 ) Pay-fixed 170,899 476 (2,287 ) 185,400 751 (5,008 ) Basis (floating to floating) 5,404 1 — 5,244 — (2 ) Total interest-rate swaps 321,689 1,857 (2,468 ) 404,361 2,872 (6,234 ) Option-based: Call swaptions Purchased 43,625 2,007 — 58,975 2,709 — Written 4,400 — (133 ) 4,650 — (101 ) Put swaptions Purchased (1) 88,075 1,565 — 47,810 1,058 — Written 1,750 — (4 ) 3,000 — (20 ) Other option-based derivatives (2) 10,481 628 — 10,683 757 — Total option-based 148,331 4,200 (137 ) 125,118 4,524 (121 ) Futures 161,185 — — 267,385 — — Commitments 36,044 90 (179 ) 54,207 44 (64 ) Credit derivatives 2,030 — (35 ) 3,569 7 (46 ) Other 12,212 1 (103 ) 2,906 1 (19 ) Total derivatives not designated as hedges 681,491 6,148 (2,922 ) 857,546 7,448 (6,484 ) Designated as fair value hedges Interest-rate swaps: Receive-fixed 117,038 23 (935 ) 83,352 2 (714 ) Pay-fixed 77,513 247 (571 ) 69,402 1,388 (291 ) Total derivatives designated as fair value hedges 194,551 270 (1,506 ) 152,754 1,390 (1,005 ) Derivative interest receivable (payable) (3) 889 (1,096 ) 1,407 (1,596 ) Netting adjustments (4) (6,972 ) 4,941 (9,870 ) 8,816 Total derivative portfolio, net $876,042 $335 ($583 ) $1,010,300 $375 ($269 ) (1) Includes swaptions on credit indices with a notional or contractual amount of $45.9 billion and $13.4 billion at December 31, 2018 and December 31, 2017, respectively, and a fair value of $113.0 million and $5.0 million at December 31, 2018 and December 31, 2017, respectively. (2) Primarily consists of purchased interest-rate caps and floors. (3) Includes other derivative receivables and payables. (4) 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 consolidated statements of comprehensive income as derivative gains (losses). In addition, for the first three quarters of 2017, the table includes the accrual of periodic cash settlements on derivatives in qualifying hedge relationships. Table 9.2 - Gains and Losses on Derivatives Year Ended December 31, (In millions) 2018 2017 2016 Not designated as hedges Interest-rate swaps: Receive-fixed ($2,457 ) ($1,343 ) ($3,539 ) Pay-fixed 3,880 1,972 3,717 Basis (floating to floating) (1 ) (3 ) — Total interest-rate swaps 1,422 626 178 Option based: Call swaptions Purchased (791 ) (404 ) 234 Written 20 24 (45 ) Put swaptions Purchased 272 (673 ) 210 Written (2 ) 50 35 Other option-based derivatives (1) (129 ) (38 ) (13 ) Total option-based (630 ) (1,041 ) 421 Other: Futures 57 144 334 Commitments 606 (91 ) 631 Credit derivatives (5 ) (29 ) (75 ) Other (39 ) (7 ) (3 ) Total other 619 17 887 Accrual of periodic cash settlements: Receive-fixed interest-rate swaps 364 1,511 2,316 Pay-fixed interest-rate swaps (584 ) (3,101 ) (4,077 ) Other 79 — 1 Total accrual of periodic cash settlements (141 ) (1,590 ) (1,760 ) Total $1,270 ($1,988 ) ($274 ) (1) Primarily consists of purchased interest-rate caps and floors. Fair Value Hedges The tables below present the gains and losses on derivatives and hedged items while designated in qualifying fair value hedge relationships. Table 9.3 - Gains and Losses on Fair Value Hedges Year Ended December 31, 2018 (In millions) Interest Income - Mortgage Loans Interest Expense Other Income (Loss) Total amounts of income and expense line items presented on our consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $66,037 ($58,033 ) $714 Interest contracts on mortgage loans held-for-investment: Gain or (loss) on fair value hedging relationships: Hedged items (1,776 ) — — Derivatives designated as hedging instruments 1,091 — — Interest accruals on hedging instruments (439 ) — — Discontinued hedge related basis adjustment amortization 133 — — Interest contracts on debt: Gain or (loss) on fair value hedging relationships: Hedged Items — 145 — Derivatives designated as hedging instruments — 155 — Interest accruals on hedging instruments — (313 ) — Discontinued hedge related basis adjustment amortization — (3 ) — Year Ended December 31, 2017 (In millions) Interest Income - Mortgage Loans Interest Expense Other Income (Loss) Total amounts of income and expense line items presented on our consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $63,735 ($53,643 ) $4,982 Interest contracts on mortgage loans held-for-investment: Gain or (loss) on fair value hedging relationships: (1) Hedged items (107 ) — 351 Derivatives designated as hedging instruments (2) 313 — (215 ) Interest accruals on hedging instruments (83 ) — — Discontinued hedge related basis adjustment amortization (16 ) — — Interest contracts on debt: Gain or (loss) on fair value hedging relationships: Hedged Items — 93 — Derivatives designated as hedging instruments — (53 ) — Interest accruals on hedging instruments — 8 — Discontinued hedge related basis adjustment amortization — — — (1) For the first three quarters of 2017, the gains or losses on derivatives and hedged items were recorded on other income (loss). Beginning in 4Q 2017, gains or losses are recorded in interest income - mortgage loans on our consolidated statements of comprehensive income due to adoption of amended hedge accounting guidance. (2) The gain or (loss) on fair value hedging relationships in 2017 excludes ($277) million of interest accruals which were recorded in derivatives gains (losses) on our consolidated statements of comprehensive income. Cumulative Basis Adjustments due to Fair Value Hedging The tables below present the carrying amounts of the hedged items that have been in a qualifying fair value hedge by their respective balance sheet line item, as well as the hedged item's cumulative basis adjustments. The hedged item carrying amounts include both designated and discontinued hedges. Table 9.4 - Cumulative Basis Adjustments due to Fair Value Hedging As of December 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 $193,547 ($1,237 ) ($1,237 ) Debt (127,215 ) 216 (8 ) As of 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	12 Months Ended
	Dec. 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. We are required to post margin in connection with our derivatives transactions. This requirement exposes us to counterparty credit risk in the event that our counterparties fail to meet their obligations. However, the use of cleared and exchange-traded derivatives decreases our credit risk exposure to individual counterparties because a central counterparty is substituted for individual counterparties. OTC derivatives expose us to the credit risk of individual counterparties because transactions are executed and settled between us and each counterparty, exposing us to potential losses if a counterparty fails to meet its obligations. 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 for interest-rate swap and option-based derivatives. Master netting agreements provide for the netting of amounts receivable and payable from an individual counterparty, as well as posting of collateral in the form of cash, Treasury securities or agency mortgage-related or debt securities, or a combination of both by either the counterparty or us, depending on which party is in a liability position. Although it is our practice not to repledge assets held as collateral, these agreements may allow us or our counterparties to repledge all or a portion of the collateral. We have master netting agreements in place with all of our OTC derivative counterparties. On a daily basis, the market value of each counterparty's derivatives outstanding is calculated to determine the amount of our net credit exposure, which is equal to the market value of derivatives in a net gain position by counterparty after giving consideration to collateral posted. In the event a counterparty defaults on its obligations under the derivatives agreement and the default is not remedied in the manner prescribed in the agreement, we have the right under the agreement to sell the collateral. As a result, our use of master netting and collateral agreements reduces our exposure to our counterparties in the event of default. In the event that all of our counterparties for OTC interest-rate swaps and option-based derivatives were to have defaulted simultaneously on December 31, 2018 , our maximum loss for accounting purposes after applying netting agreements and collateral on an individual counterparty basis would have been approximately $48 million . A significant majority of our net uncollateralized exposure to OTC derivative counterparties is concentrated among five counterparties, all of which were investment grade as of December 31, 2018 . We regularly review the market value of securities pledged as collateral and derivative counterparty collateral posting thresholds, where applicable, in an effort to manage our exposure to losses. 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 . However, for OTC derivative transactions executed before March 1, 2017 the amount of collateral we pledge to counterparties related to our derivative instruments is determined after giving consideration to our credit rating. The aggregate fair value of our OTC derivative instruments containing credit-risk related contingent features, netted by counterparty, that were in a liability position on December 31, 2018 was $0.4 billion for which we posted cash and non-cash collateral of $0.3 billion in the normal course of business. A reduction in our credit ratings may trigger additional collateral requirements related to these OTC derivative instruments. If a reduction in our credit ratings had triggered additional collateral requirements related to these OTC derivative instruments on December 31, 2018 , we would have been required to post an additional $123 million of collateral to our counterparties. Cleared and Exchange-Traded Derivatives The majority of our interest-rate swaps are subject to the central clearing requirement. Changes in the value of open exchange-traded contracts and cleared derivatives are settled or collateralized daily via payments made through the clearinghouse. We net our exposure to cleared derivatives by clearinghouse and clearing member. Exchange-traded derivatives are settled on a daily basis through the payment of variation margin. 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. In October 2017, the CFTC issued an interpretation letter clarifying that variation margin payments for cleared swaps constitute daily settlement of exposure and not the posting of margin collateral. We changed the characterization of variation margin payments from posting of margin collateral to settlements in 1Q 2017 for cleared swaps transacted with the Chicago Mercantile Exchange (CME) and in 1Q 2018 for cleared swaps transacted with LCH Group, as a result of certain rule amendments made by those organizations. 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 exposure on our forward purchase and sale commitments was $90 million and $44 million at December 31, 2018 and December 31, 2017 , respectively. Many of our transactions involving forward purchase and sale commitments of mortgage-related securities utilize the 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). In the event a clearing member fails and causes losses to the MBSD/FICC clearing system, we could be subject to the loss of the margin that we have posted to the MBSD/FICC. Moreover, our exposure could exceed that amount, as members are generally required to cover losses caused by defaulting members on a pro rata basis. It is difficult to estimate our maximum exposure under these transactions, as this would require an assessment of transactions that we and other members of the MBSD/FICC may execute in the future. 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 our practice not to repledge assets held as collateral, 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. Beginning in 2017, we began to utilize the GSD/FICC as a clearinghouse to transact many of our trades involving securities purchased under agreements to resell, securities sold under agreements to repurchase, and other non-mortgage related securities. As a clearing member of GSD/FICC, we are required to post initial and variation margin payments and are exposed to the counterparty credit risk of GSD/FICC (including its clearing members). Although our membership provides us with the right to offset certain of our open receivable and payable positions by collateral type, we have elected not to offset these positions within our consolidated balance sheets. In the event a clearing member fails and causes losses to the GSD/FICC clearing system, we could be subject to the loss of the margin that we have posted to the GSD/FICC. Moreover, our exposure could exceed that amount, as members are generally required to cover losses caused by defaulting members on a pro rata basis. It is difficult to estimate our maximum exposure under these transactions, as this would require an assessment of transactions that we and other members of the GSD/FICC may execute in the future. 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. Beginning in 2017, certain of our trades involving securities sold under agreements to repurchase utilized GSD/FICC as a clearinghouse. Offsetting of Financial Assets and Liabilities When we receive cash collateral, we recognize the amount received along with a corresponding obligation to return the collateral. When we post cash collateral, we derecognize the amount posted along with a corresponding asset for our right to receive the return of the collateral. We generally do not recognize or derecognize collateral received or pledged in the form of securities as the transferor in such arrangements does not relinquish effective control over the securities transferred. See Note 9 for additional information on our consolidated balance sheets presentation of collateral related to derivatives transactions. At December 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 tables below present offsetting and collateral information related to derivatives, securities purchased under agreements to resell, and securities sold under agreements to repurchase. Securities sold under agreements to repurchase are included in debt, net on our consolidated balance sheets. Table 10.1 - Offsetting and Collateral Information of Financial Assets and Liabilities As of December 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented on the Consolidated Balance Sheets Gross Amount Not Offset on the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,213 ($4,544 ) ($2,448 ) $221 ($173 ) $48 Cleared and exchange-traded derivatives 3 — 20 23 — 23 Other 91 — — 91 — 91 Total derivatives 7,307 (4,544 ) (2,428 ) 335 (173 ) 162 Securities purchased under agreements to resell (3)(4) 34,771 — — 34,771 (34,771 ) — Total $42,078 ($4,544 ) ($2,428 ) $35,106 ($34,944 ) $162 Liabilities: Derivatives: OTC derivatives ($4,963 ) $4,544 $296 ($123 ) $— ($123 ) Cleared and exchange-traded derivatives (244 ) — 101 (143 ) — (143 ) Other (317 ) — — (317 ) — (317 ) Total derivatives (5,524 ) 4,544 397 (583 ) — (583 ) Securities sold under agreements to repurchase (4) (6,019 ) — — (6,019 ) 6,019 — Total ($11,543 ) $4,544 $397 ($6,602 ) $6,019 ($583 ) As of December 31, 2017 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented on the Consolidated Balance Sheets Gross Amount Not Offset on 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 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 $2.5 billion and $3.1 billion as of December 31, 2018 and December 31, 2017, respectively. (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 December 31, 2018 and December 31, 2017 , we had $20.1 billion and $34.8 billion , respectively, of securities pledged to us in these transactions. In addition, at December 31, 2018 and December 31, 2017, we had $2.5 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. We had $3.0 billion and $2.4 billion pledged to us as collateral that was invested as part of our Liquidity and Contingency Operating Portfolio as of December 31, 2018 and December 31, 2017, respectively. 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. Table 10.2 - Collateral in the Form of Securities Pledged As of December 31, 2018 (In millions) Derivatives Securities sold under agreements to repurchase Other (3) Total Cash equivalents (1) $— $2,595 $— $2,595 Debt securities of consolidated trusts (2) 362 — 179 541 Available-for-sale securities — — 1 1 Trading securities 2,160 3,432 73 5,665 Total securities pledged $2,522 $6,027 $253 $8,802 December 31, 2017 (In millions) Derivatives Securities sold under agreements to repurchase Other (3) Total Debt securities of consolidated trusts (2) $375 $— $111 $486 Trading securities 2,766 9,705 362 12,833 Total securities pledged $3,141 $9,705 $473 $13,319 (1) Represents U.S. Treasury securities accounted for as cash equivalents. (2) 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 consolidated balance sheets. (3) 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. Table 10.3 - Underlying Collateral Pledged As of December 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 $— $2,103 $3,924 $— $6,027

Stockholders' Equity and Earnin

Stockholders' Equity and Earnings per Share	12 Months Ended
	Dec. 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 2018 and 2017, respectively, related to available-for-sale securities, closed cash flow hedges, and our defined benefit plans. Table 11.1 - Changes in AOCI by Component, Net of Taxes Year Ended December 31, 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) (476 ) — 11 (465 ) Amounts reclassified from accumulated other comprehensive income (246 ) 114 (16 ) (148 ) Changes in AOCI by component (722 ) 114 (5 ) (613 ) Cumulative effect of change in accounting principle (2) $143 ($73 ) $19 $89 Ending balance $83 ($315 ) $97 ($135 ) Year Ended December 31, 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) 857 — 63 920 Amounts reclassified from accumulated other comprehensive income (1,110 ) 124 (1 ) (987 ) Changes in AOCI by component (253 ) 124 62 (67 ) Ending balance $662 ($356 ) $83 $389 Year Ended December 31, 2016 (In millions) AOCI Related to Available- For-Sale Securities AOCI Related to Cash Flow Hedge Relationships AOCI Related to Defined Benefit Plans Total Beginning balance $1,740 ($621 ) $34 $1,153 Other comprehensive income before reclassifications (1) (318 ) — (10 ) (328 ) Amounts reclassified from accumulated other comprehensive income (507 ) 141 (3 ) (369 ) Changes in AOCI by component (825 ) 141 (13 ) (697 ) Ending balance $915 ($480 ) $21 $456 (1) For the years ended December 31, 2018 , 2017, and 2016, net of tax expense (benefit) of $(0.1) billion , $0.5 billion , and ($0.2) 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 on our consolidated statements of comprehensive income. Table 11.2 - Reclassifications from AOCI to Net Income Year Ended December 31, (In millions) 2018 2017 2016 AOCI related to available-for-sale securities Affected line items on the consolidated statements of comprehensive income: Investment securities gains (losses) $312 $1,708 $780 Total before tax 312 1,708 780 Income tax (expense) or benefit (66 ) (598 ) (273 ) Net of tax 246 1,110 507 AOCI related to cash flow hedge relationships Affected line items on the consolidated statements of comprehensive income: Interest expense (133 ) (164 ) (192 ) Income tax (expense) or benefit 19 40 51 Net of tax (114 ) (124 ) (141 ) AOCI related to defined benefit plans Affected line items on the consolidated statements of comprehensive income: Salaries and employee benefits 20 2 4 Income tax (expense) or benefit (4 ) (1 ) (1 ) Net of tax 16 1 3 Total reclassifications in the period net of tax $148 $987 $369 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 $0.3 billion and $0.4 billion at December 31, 2018 and December 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 $75 million , net of taxes, of the $ 0.3 billion of cash flow hedge losses in AOCI at December 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 15 years. Senior Preferred Stock Pursuant to the Purchase Agreement described in Note 2 , we issued one million shares of senior preferred stock to Treasury on September 8, 2008, in partial consideration of Treasury's commitment to provide funds to us. Shares of the senior preferred stock have a par value of $1 , and have a stated value and initial liquidation preference of $1 billion , or $1,000 per share. The liquidation preference of the senior preferred stock is subject to adjustment. Dividends that are not paid in cash for any dividend period will accrue and be added to the liquidation preference of the senior preferred stock. In addition, any amounts Treasury pays to us pursuant to its funding commitment under the Purchase Agreement and any quarterly commitment fees that are not paid in cash to Treasury nor waived by Treasury will be added to the liquidation preference of the senior preferred stock. The liquidation preference also increased by $3.0 billion on December 31, 2017 pursuant to the Letter Agreement. As described below, we may make payments to reduce the liquidation preference of the senior preferred stock in limited circumstances. As discussed in Note 2 , the quarterly commitment fee has been suspended. Treasury, as the holder of the senior preferred stock, is entitled to receive quarterly cash dividends, when, as and if declared by our Board of Directors. The dividends we have paid to Treasury on the senior preferred stock have been declared by, and paid at the direction of, the Conservator, acting as successor to the rights, titles, powers, and privileges of the Board. The dividend is presented in the period in which it is determinable for the senior preferred stock, as a reduction to net income (loss) available to common stockholders and net income (loss) per common share. The dividend is declared and paid in the following period and recorded as a reduction to equity in the period declared. Total dividends paid in cash during 2018 , 2017, and 2016 at the direction of the Conservator were $4.1 billion , $10.9 billion , and $5.0 billion , respectively. See Note 2 for a discussion of our net worth sweep dividend. The senior preferred stock is senior to our common stock and all other outstanding series of our preferred stock, as well as any capital stock we issue in the future, as to both dividends and rights upon liquidation. The senior preferred stock provides that we may not, at any time, declare or pay dividends on, make distributions with respect to, redeem, purchase or acquire, or make a liquidation payment with respect to, any common stock or other securities ranking junior to the senior preferred stock unless: n Full cumulative dividends on the outstanding senior preferred stock (including any unpaid dividends added to the liquidation preference) have been declared and paid in cash and n All amounts required to be paid with the net proceeds of any issuance of capital stock for cash (as described below) have been paid in cash. Shares of the senior preferred stock are not convertible. Shares of the senior preferred stock have no general or special voting rights, other than those set forth in the certificate of designation for the senior preferred stock or otherwise required by law. The consent of holders of at least two-thirds of all outstanding shares of senior preferred stock is generally required to amend the terms of the senior preferred stock or to create any class or series of stock that ranks prior to or on parity with the senior preferred stock. We are not permitted to redeem the senior preferred stock prior to the termination of Treasury's funding commitment set forth in the Purchase Agreement; however, we are permitted to pay down the liquidation preference of the outstanding shares of senior preferred stock to the extent of accrued and unpaid dividends previously added to the liquidation preference and not previously paid down and quarterly commitment fees previously added to the liquidation preference and not previously paid down. In addition, if we issue any shares of capital stock for cash while the senior preferred stock is outstanding, the net proceeds of the issuance must be used to pay down the liquidation preference of the senior preferred stock; however, the liquidation preference of each share of senior preferred stock may not be paid down below $1,000 per share prior to the termination of Treasury's funding commitment. Following the termination of Treasury's funding commitment, we may pay down the liquidation preference of all outstanding shares of senior preferred stock at any time, in whole or in part. If, after termination of Treasury's funding commitment, we pay down the liquidation preference of each outstanding share of senior preferred stock in full, the shares will be deemed to have been redeemed as of the payment date. The table below provides a summary of our senior preferred stock outstanding at December 31, 2018 . Table 11.3 - Senior Preferred Stock ( In millions , except initial liquidation preference price per share) Shares Authorized Shares Outstanding Total Par Value Initial Liquidation Preference Price per Share Total Liquidation Preference Non-draw Adjustment Dates: September 8, 2008 1.00 1.00 $1.00 $1,000 $1,000 December 31, 2017 — — — N/A 3,000 Draw Dates: November 24, 2008 — — — N/A 13,800 March 31, 2009 — — — N/A 30,800 June 30, 2009 — — — N/A 6,100 June 30, 2010 — — — N/A 10,600 September 30, 2010 — — — N/A 1,800 December 30, 2010 — — — N/A 100 March 31, 2011 — — — N/A 500 September 30, 2011 — — — N/A 1,479 December 30, 2011 — — — N/A 5,992 March 30, 2012 — — — N/A 146 June 29, 2012 — — — N/A 19 March 30, 2018 — — — N/A 312 Total, senior preferred stock 1.00 1.00 $1.00 $75,648 Because we had a net worth deficit at December 31, 2017, FHFA, as Conservator, submitted a draw request for $312 million on our behalf to Treasury under the Purchase Agreement. We received this funding during 2018. We had positive net worth at March 31, 2018, June 30, 2018, September 30, 2018, and December 31, 2018; consequently, FHFA did not request a draw on our behalf in 2018. The aggregate liquidation preference of the senior preferred stock owned by Treasury was $75.6 billion and $75.3 billion as of December 31, 2018 and December 31, 2017, respectively. Our quarterly senior preferred stock dividend requirement is the amount, if any, by which our Net Worth Amount at the end of the immediately preceding fiscal quarter exceeds the applicable Capital Reserve Amount of $3.0 billion . If, for any reason, we were not to pay our dividend requirement on the senior preferred stock in full in any future period, the applicable Capital Reserve Amount would thereafter be zero. See Note 2 for additional information. Common Stock Warrant Pursuant to the Purchase Agreement described in Note 2 , on September 7, 2008, we issued a warrant to purchase common stock to Treasury, in partial consideration of Treasury's commitment to provide funds to us. The warrant may be exercised in whole or in part at any time on or before September 7, 2028, by delivery to us of a notice of exercise, payment of the exercise price of $0.00001 per share and the warrant. If the market price of one share of our common stock is greater than the exercise price, then, instead of paying the exercise price, Treasury may elect to receive shares equal to the value of the warrant (or portion thereof being canceled) pursuant to the formula specified in the warrant. Upon exercise of the warrant, Treasury may assign the right to receive the shares of common stock issuable upon exercise to any other person. We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings (loss) per share. The weighted average shares of common stock outstanding for the years ended December 31, 2018 , 2017, and 2016 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury. Preferred Stock We have the option to redeem our preferred stock on specified dates, at their redemption price plus dividends accrued through the redemption date. However, without the consent of Treasury, we are restricted from making payments to purchase or redeem preferred stock as well as paying any preferred dividends, other than dividends on the senior preferred stock. All 24 classes of preferred stock are perpetual and non-cumulative, and carry no significant voting rights or rights to purchase additional Freddie Mac stock or securities. Costs incurred in connection with the issuance of preferred stock are charged to additional paid-in capital. The table below provides a summary of our preferred stock outstanding at their redemption values at December 31, 2018 . Table 11.4 - Preferred Stock ( In millions , except redemption price per share) Issue Date Shares Authorized Shares Outstanding Total Par Value Redemption Price per Share Total Outstanding Balance Redeemable On or After OTCQB Symbol Preferred stock: 1996 Variable-rate (1) April 26, 1996 5.00 5.00 $5.00 $50.00 $250 June 30, 2001 FMCCI 5.81% October 27, 1997 3.00 3.00 3.00 50.00 150 October 27, 1998 (2) 5% March 23, 1998 8.00 8.00 8.00 50.00 400 March 31, 2003 FMCKK 1998 Variable-rate (3) September 23 and 29, 1998 4.40 4.40 4.40 50.00 220 September 30, 2003 FMCCG 5.10% September 23, 1998 8.00 8.00 8.00 50.00 400 September 30, 2003 FMCCH 5.30% October 28, 1998 4.00 4.00 4.00 50.00 200 October 30, 2000 (2) 5.10% March 19, 1999 3.00 3.00 3.00 50.00 150 March 31, 2004 (2) 5.79% July 21, 1999 5.00 5.00 5.00 50.00 250 June 30, 2009 FMCCK 1999 Variable-rate (4) November 5, 1999 5.75 5.75 5.75 50.00 287 December 31, 2004 FMCCL 2001 Variable-rate (5) January 26, 2001 6.50 6.50 6.50 50.00 325 March 31, 2003 FMCCM 2001 Variable-rate (6) March 23, 2001 4.60 4.60 4.60 50.00 230 March 31, 2003 FMCCN 5.81% March 23, 2001 3.45 3.45 3.45 50.00 173 March 31, 2011 FMCCO 6% May 30, 2001 3.45 3.45 3.45 50.00 173 June 30, 2006 FMCCP 2001 Variable-rate (7) May 30, 2001 4.02 4.02 4.02 50.00 201 June 30, 2003 FMCCJ 5.70% October 30, 2001 6.00 6.00 6.00 50.00 300 December 31, 2006 FMCKP 5.81% January 29, 2002 6.00 6.00 6.00 50.00 300 March 31, 2007 (2) 2006 Variable-rate (8) July 17, 2006 15.00 15.00 15.00 50.00 750 June 30, 2011 FMCCS 6.42% July 17, 2006 5.00 5.00 5.00 50.00 250 June 30, 2011 FMCCT 5.90% October 16, 2006 20.00 20.00 20.00 25.00 500 September 30, 2011 FMCKO 5.57% January 16, 2007 44.00 44.00 44.00 25.00 1,100 December 31, 2011 FMCKM 5.66% April 16, 2007 20.00 20.00 20.00 25.00 500 March 31, 2012 FMCKN 6.02% July 24, 2007 20.00 20.00 20.00 25.00 500 June 30, 2012 FMCKL 6.55% September 28, 2007 20.00 20.00 20.00 25.00 500 September 30, 2017 FMCKI 2007 Fixed-to-floating rate (9) December 4, 2007 240.00 240.00 240.00 25.00 6,000 December 31, 2012 FMCKJ Total, preferred stock 464.17 464.17 $464.17 $14,109 (1) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 1% divided by 1.377, and is capped at 9.00%. (2) Issued through private placement. (3) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 1% divided by 1.377, and is capped at 7.50%. (4) Dividend rate resets on January 1 every five years after January 1, 2005 based on a five-year Constant Maturity Treasury rate, and is capped at 11.00%. Optional redemption on December 31, 2004 and on December 31 every five years thereafter. (5) Dividend rate resets on April 1 every two years after April 1, 2003 based on the two-year Constant Maturity Treasury rate plus 0.10%, and is capped at 11.00%. Optional redemption on March 31, 2003 and on March 31 every two years thereafter. (6) Dividend rate resets on April 1 every year based on 12-month LIBOR minus 0.20%, and is capped at 11.00%. Optional redemption on March 31, 2003 and on March 31 every year thereafter. (7) Dividend rate resets on July 1 every two years after July 1, 2003 based on the two-year Constant Maturity Treasury rate plus 0.20%, and is capped at 11.00%. Optional redemption on June 30, 2003 and on June 30 every two years thereafter. (8) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 0.50% but not less than 4.00%. (9) Dividend rate is set at an annual fixed rate of 8.375% from December 4, 2007 through December 31, 2012. For the period beginning on or after January 1, 2013, dividend rate resets quarterly and is equal to the higher of: (a) the sum of three-month LIBOR plus 4.16% per annum or (b) 7.875% per annum. Optional redemption on December 31, 2012 and on December 31 every five years thereafter. Stock-Based Compensation Following the implementation of the conservatorship in September 2008, we suspended the operation of and/or ceased making grants under our stock-based compensation plans. Under the Purchase Agreement, we cannot issue any new options, rights to purchase, participations or other equity interests without Treasury's prior approval. However, grants outstanding as of the date of the Purchase Agreement remain in effect in accordance with their terms. We did not repurchase or issue any of our common shares or non-cumulative preferred stock during 2018 and 2017, except for issuances of treasury stock as reported on our consolidated statements of equity relating to stock-based compensation granted prior to conservatorship. Common stock delivered under these stock-based compensation plans consists of treasury stock or shares acquired in market transactions on behalf of the participants. During 2018, the deferral period lapsed on 350 RSUs. At December 31, 2018 , 1,053 RSUs remained outstanding. In addition, there were 41,160 shares of restricted stock outstanding at both December 31, 2018 and December 31, 2017. At December 31, 2018 , no stock options were outstanding. Earnings Per Share We have participating securities related to RSUs with dividend equivalent rights that receive dividends as declared on an equal basis with common shares but are not obligated to participate in undistributed net losses. These participating securities consist of vested RSUs 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 weighted-average of RSUs. 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, antidilutive potential common shares excluded from the computation of dilutive potential common shares were 0 , 0 , and 22,684 at December 31, 2018 , December 31, 2017, and December 31, 2016, respectively. Dividends and Dividend Restrictions No common dividends were declared in 2018 or 2017. During the three months ended March 31, 2018 and June 30, 2018, we did no t pay dividends, and during the three months ended September 30, 2018 and December 31, 2018 , we paid dividends of $1.6 billion and $2.6 billion , respectively, in cash on the senior preferred stock at the direction of our Conservator. We did no t declare or pay dividends on any other series of Freddie Mac preferred stock outstanding during 2018. Our payment of dividends is subject to the following restrictions: n Restrictions Relating to the Conservatorship - The Conservator has prohibited us from paying any dividends on our common stock or on any series of our preferred stock (other than the senior preferred stock). FHFA has instructed our Board of Directors that it should consult with and obtain the approval of FHFA before taking actions involving dividends. In addition, FHFA has adopted a regulation prohibiting us from making capital distributions during conservatorship, except as authorized by the Director of FHFA. n Restrictions Under the Purchase Agreement - The Purchase Agreement prohibits us and any of our subsidiaries from declaring or paying any dividends on Freddie Mac equity securities (other than with respect to the senior preferred stock or warrant) without the prior written consent of Treasury. n Restrictions Under the GSE Act - Under the GSE Act, FHFA has authority to prohibit capital distributions, including payment of dividends, if we fail to meet applicable capital requirements. However, our capital requirements have been suspended during conservatorship. n Restrictions Under our Charter - Without regard to our capital classification, we must obtain prior written approval of FHFA to make any capital distribution that would decrease total capital to an amount less than the risk-based capital level or that would decrease core capital to an amount less than the minimum capital level. As noted above, our capital requirements have been suspended during conservatorship. n Restrictions Relating to Preferred Stock - Payment of dividends on our common stock is also subject to the prior payment of dividends on our 24 series of preferred stock and one series of senior preferred stock, representing an aggregate of 464,170,000 shares and 1,000,000 shares, respectively, outstanding as of December 31, 2018. Payment of dividends on all outstanding preferred stock, other than the senior preferred stock, is subject to the prior payment of dividends on the senior preferred stock. We paid dividends on the senior preferred stock during 2018 at the direction of the Conservator, as discussed in the Senior Preferred Stock section above. We did not declare or pay dividends on any other series of preferred stock outstanding in 2018. Delisting of Common Stock and Preferred Stock from NYSE On July 8, 2010, we delisted our common and 20 previously listed classes of preferred stock from the NYSE pursuant to a directive by our Conservator. Our common stock and the classes of preferred stock that were previously listed on the NYSE are traded exclusively in the OTCQB Marketplace. Shares of our common stock now trade under the ticker symbol FMCC . We expect that our common stock and the previously listed classes of preferred stock will continue to trade in the OTCQB Marketplace so long as market makers demonstrate an interest in trading the common and preferred stock.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 12: INCOME TAXES Income Tax Expense Total income tax expense includes: n Current income tax expense, which represents the amount of federal tax currently payable to or receivable from the Internal Revenue Service, including interest and penalties and amounts accrued for unrecognized tax benefits, if any, and n Deferred income tax expense, which represents the net change in the deferred tax asset or liability balance during the year, including any change in the valuation allowance. Income tax expense excludes the tax effects related to adjustments recorded to other comprehensive income, such as unrealized gains and losses on available-for-sale securities. The table below presents the components of our federal income tax expense for 2018, 2017, and 2016. We are exempt from state and local income taxes. Table 12.1 - Federal Income Tax Expense Year Ended December 31, (In millions) 2018 2017 2016 Current income tax expense ($848 ) ($3,436 ) ($1,037 ) Deferred income tax expense (1,391 ) (7,773 ) (2,787 ) Total income tax expense ($2,239 ) ($11,209 ) ($3,824 ) Income tax expense decreased from 2017 to 2018 and increased from 2016 to 2017, primarily due to higher income tax expense in 2017 driven by the revaluation of the net deferred tax asset. The revaluation was required due to the enactment of the Tax Cuts and Jobs Act in 2017, which reduced the corporate income tax rate from 35% to 21% for tax years after 2017. Accounting rules required that we measure our net deferred tax asset using the reduced rate in the period in which the legislation was enacted. Therefore, income tax expense in 2017 reflected a $5.4 billion charge associated with the reduction in the net deferred tax asset. The table below presents the reconciliation between our federal statutory income tax rate and our effective tax rate for 2018 , 2017 , and 2016 . Table 12.2 - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate Year Ended December 31, 2018 2017 2016 (Dollars in millions) Amount Percent Amount Percent Amount Percent Statutory corporate tax rate ($2,410 ) 21.0 % ($5,892 ) 35.0 % ($4,074 ) 35.0 % Tax-exempt interest 19 (0.2 ) 39 (0.2 ) 36 (0.3 ) Tax credits 56 (0.5 ) 135 (0.8 ) 243 (2.1 ) Valuation allowance (13 ) 0.1 (54 ) 0.3 — — Revaluation of deferred tax asset to enacted rate 184 (1.6 ) (5,405 ) 32.1 — — Other (75 ) 0.7 (32 ) 0.2 (29 ) 0.3 Effective tax rate ($2,239 ) 19.5 % ($11,209 ) 66.6 % ($3,824 ) 32.9 % Deferred Tax Assets, Net We use the asset and liability method of accounting for income taxes for financial reporting purposes. Under this method, deferred tax assets and liabilities are recognized based upon the expected future tax consequences of existing temporary differences between the financial reporting and the tax reporting basis of assets and liabilities using enacted statutory tax rates as well as tax net operating loss and tax credit carryforwards, if any. To the extent tax laws change, deferred tax assets and liabilities are adjusted in the period that the tax change is enacted. The realization of our net deferred tax assets is dependent upon the generation of sufficient taxable income. The table below presents the balance of significant deferred tax assets and liabilities at December 31, 2018 and December 31, 2017. The valuation allowance relates to capital loss carryforwards included in Other Items, net that we expect to expire unused. Table 12.3 - Deferred Tax Assets and Liabilities Year Ended December 31, (In millions) 2018 2017 Deferred tax assets: Deferred fees $4,424 $4,679 Basis differences related to derivative instruments 1,767 2,041 Credit related items and allowance for loan losses 177 291 Basis differences related to assets held for investment 569 1,288 LIHTC partnerships and AMT credit carryforward — — Other items, net 20 55 Total deferred tax assets 6,957 8,354 Deferred tax liabilities: Unrealized gains related to available-for-sale securities (23 ) (214 ) Total deferred tax liabilities (23 ) (214 ) Valuation allowance (46 ) (33 ) Deferred tax assets, net $6,888 $8,107 Valuation Allowance A valuation allowance is recorded to reduce the net deferred tax asset when it is more likely than not that all or part of our tax benefits will not be realized. On a quarterly basis, we determine whether a valuation allowance is necessary. In doing so, we consider all evidence available, both positive and negative, in determining whether, based on the weight of the evidence, it is more likely than not that the net deferred tax asset will be realized. We are not permitted to consider in our analysis the impacts proposed legislation may have on our business because the timing and certainty of those actions are unknown and beyond our control. Based on all positive and negative evidence available at December 31, 2018, we determined that it is more likely than not that our net deferred tax assets, except for the deferred tax asset related to our capital loss carryforwards, will be realized. A valuation allowance of $46 million has been recorded against our capital loss carryforward deferred tax asset. Unrecognized Tax Benefits and IRS Examinations We recognize a tax position taken or expected to be taken (and any associated interest and penalties) if it is more likely than not that it will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. We measure the tax position at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We evaluated all income tax positions and determined that there were no uncertain tax positions that required reserves as of December 31, 2018 .

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 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. Segment/Category Description Financial Performance Measurement Basis Single-family Guarantee The Single-family Guarantee segment reflects results from our purchase of single-family loans, our guarantee of principal and interest payments on securitized mortgage loans in exchange for guarantee fees, and the management of single-family mortgage credit risk. The Single-family Guarantee segment manages single-family mortgage credit risk through risk transfer transactions, performing loss mitigation activities, and managing foreclosure and REO activities. Segment Earnings for this segment consist primarily of guarantee fee income, less credit-related expenses, credit risk transfer expenses, administrative expenses, allocated funding and hedging costs, and allocated reinvestment income. • Contribution to GAAP net income (loss) 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 risk transfer securitization products, issue other risk transfer products, and provide other guarantee activities. 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. • Contribution to GAAP comprehensive income (loss) 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 for the company. Segment Earnings for this segment consist primarily of the returns on these investments, less the related funding, hedging, and administrative expenses. • Contribution to GAAP comprehensive income (loss) All Other The All Other category consists of material corporate-level activities that are infrequent in nature and based on decisions outside the control of the management of our reportable segments. N/A Segment Earnings We present Segment Earnings by reclassifying certain credit guarantee-related activities and investment-related activities between various line items on our GAAP consolidated statements of comprehensive income and allocating certain revenues and expenses, including certain returns on assets, funding and hedging 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. During 4Q 2018, we changed how we calculate certain components of our Segment Earnings for our Single-family Guarantee and Capital Markets segments. The purpose of this change is to more closely align Segment Earnings results relative to the business operations and to better reflect how management evaluates the Single-family Guarantee and Capital Markets segments. Prior period results have been revised to conform to the current period presentation. Changes were made to: n Share the economic return on loans acquired through our cash loan purchase program between the Capital Markets segment and the Single-family Guarantee segment. Previously, the Capital Markets segment recognized the full benefit from the cash loan purchase program. This change resulted in a decrease to other non-interest income for our Capital Markets segment and an increase to other non-interest income for our Single-family Guarantee segment of $87 million and $89 million for 2017 and 2016, respectively. n Transfer the short-term interest earned on cash received related to delivery fees and buy-down fees on single-family loans from the Capital Markets segment to the Single-family Guarantee segment. This change resulted in a decrease to net interest income for our Capital Markets segment and an increase to guarantee fee income for our Single-family Guarantee segment of $110 million and $38 million for 2017 and 2016, respectively. n Recognize buy-up/buy-down fees on securitized loans acquired through our cash loan purchase program similar to the way we recognize buy-up/buy-down fees on loans purchased via our guarantor swap transactions. Buy-up fees and associated amortization are recognized in the Capital Markets segment, rather than the Single-family Guarantee segment, and buy-down fees and associated amortization are recognized in the Single-family Guarantee segment, rather than the Capital Markets segment. This change resulted in: l An increase to guarantee fee income for our Single-family Guarantee segment of $146 million , a decrease to other non-interest income for our Capital Markets segment of $201 million and an increase to net interest income for our Capital Markets segment of $55 million for 2017 and l An increase to guarantee fee income for our Single-family Guarantee segment of $227 million , a decrease to other non-interest income for our Capital Markets segment of $225 million and a decrease to net interest income for our Capital Markets segment of $2 million for 2016. The sum of Segment Earnings for each segment and the All Other category equals GAAP net income (loss). Likewise, the sum of comprehensive income (loss) for each segment and the All Other category equals GAAP comprehensive income (loss). However, the accounting principles we apply to present certain financial statement line items in Segment Earnings for our reportable segments differ significantly from those applied in preparing the comparable line items on our consolidated financial statements prepared in accordance with GAAP in order to reflect the business activities each segment performs. The significant reclassifications are discussed below. Many of the reclassifications and allocations described below relate to the amendments to the accounting guidance for transfers of financial assets and consolidation of VIEs, which we adopted effective January 1, 2010. These amendments require us to consolidate our single-family PC trusts and certain other VIEs. Due to the adoption of this guidance, the results of our operating segments from a GAAP perspective do not reflect how the Segments are managed. Credit Activity-Related Reclassifications Certain credit activity-related income and costs are included in Segment Earnings guarantee fee income or provision for credit losses. n Net guarantee fees, including upfront fee amortization and implied guarantee fee income related to unsecuritized loans held in the mortgage-related investments portfolio, are reclassified in Segment Earnings from net interest income to guarantee fee income. n Short-term returns on cash received related to certain upfront fees on single-family loans are reclassified in Segment Earnings from net interest income to guarantee fee income. n The revenue and expense related to the 10 basis point increase which was legislated in the Temporary Payroll Tax Cut Continuation Act of 2011 are netted within guarantee fee income. Investment Activity-Related Reclassifications We move certain items into or out of net interest income so that, on a Segment Earnings basis, net interest income reflects how we measure the effective yield earned on securities held in our mortgage investments portfolio and our other investments portfolio. We use derivatives extensively in our investment activity. The reclassifications described below allow us to reflect, in Segment Earnings net interest income, the costs associated with this use of derivatives. n The accrual of periodic cash settlements of derivatives recorded within derivative gains (losses) is reclassified in Segment Earnings from derivatives gains (losses) into net interest income to fully reflect the periodic cost associated with the protection provided by these contracts. Beginning in 4Q 2017, the accrual of periodic cash settlements of derivatives in qualifying hedge relationships is recorded directly to net interest income due to the adoption of amended hedge accounting guidance. As a result, only the accrual of periodic cash settlements of derivatives while not in qualifying hedge relationships is reclassified for Segment Earnings. n For Segment Earnings, changes in the fair value of the hedging instrument and changes in the fair value of the hedged item attributable to the risk being hedged are recorded in other income. Beginning in 4Q 2017, for qualifying hedge relationships, changes in the fair value of the derivative hedging instrument and changes in fair value of the hedged item attributable to the risk being hedged are reclassified in Segment Earnings from net interest income to other income. For periods prior to the adoption of amended hedge accounting guidance in 4Q 2017, these amounts were recorded directly to other income. As a result, no reclassification for Segment Earnings was necessary. Amortization related to certain items is not relevant to how we measure the effective yield earned on the securities held in our investments portfolios. Therefore, as described below, we reclassify the following items in Segment Earnings from net interest income to non-interest income: n Amortization related to derivative commitment basis adjustments associated with mortgage-related and non-mortgage-related securities. n Amortization related to accretion of other-than-temporary impairments on available-for-sale securities. n Amortization of discounts on loans purchased with deteriorated credit quality that are on accrual status. n Amortization related to premiums and discounts, including non-cash premiums and discounts, on single-family loans in trusts and on the associated consolidated PCs. n Amortization related to premiums and discounts associated with PCs issued by our consolidated trusts that we previously held and subsequently transferred to third parties. Certain debt-related costs are not relevant to how we measure the effective yield earned on the securities held in our investments portfolio. Therefore, as described below, we reclassify the following items in Segment Earnings: n Costs associated with STACR debt note expenses are reclassified from net interest income to other non-interest expense. n Internally allocated costs associated with the refinancing of debt related to Multifamily segment held-for-investment loans which we securitized are reclassified from net interest income to other non-interest income. Mortgage Loan Classification-Related Reclassifications In order to better reflect how we manage our Single-family Guarantee segment, we reclassify the impacts related to single-family mortgage loans held-for-sale from benefit (provision) for credit losses, mortgage loans gains (losses), and other non-interest expense into other non-interest income (loss). Segment Allocations The results of each reportable segment include directly attributable revenues and expenses. Administrative expenses that are not directly attributable to a segment are allocated to our segments using various methodologies, depending on the nature of the expense. Net interest income for each segment includes allocated debt funding and hedging costs related to certain assets of each segment. Funding and interest-rate risk is consolidated and primarily managed by the Capital Markets segment for all other business segments. In connection with this activity, the Capital Markets segment transfers costs or income to the other segments. The actual costs or income may vary relative to these intra-company transfers. In addition, the financial statement variability associated with the use of derivatives to hedge certain assets outside the Capital Markets segment is not fully allocated to other segments. These allocations do not include the effects of dividends paid on our senior preferred stock. The table below presents Segment Earnings by segment. Table 13.1 - Segment Earnings Year Ended December 31, (In millions) 2018 2017 2016 Segment Earnings (loss), net of taxes: Single-family Guarantee $3,908 $2,759 $2,437 Multifamily 1,319 2,014 1,818 Capital Markets 4,008 6,257 3,560 All Other — (5,405 ) — Total Segment Earnings, net of taxes 9,235 5,625 7,815 Net income (loss) $9,235 $5,625 $7,815 Comprehensive income (loss) of segments: Single-family Guarantee $3,905 $2,799 $2,428 Multifamily 1,236 1,937 1,582 Capital Markets 3,481 6,227 3,108 All Other — (5,405 ) — Comprehensive income (loss) of segments 8,622 5,558 7,118 Comprehensive income (loss) $8,622 $5,558 $7,118 The table below presents detailed reconciliations between our GAAP financial statements and Segment Earnings for our reportable segments and All Other. Table 13.2 - Segment Earnings and Reconciliations to GAAP Financial Statements Year Ended December 31, 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 $— $1,096 $3,217 $— $4,313 $7,708 $12,021 Guarantee fee income 6,570 817 — — 7,387 (6,576 ) 811 Benefit (provision) for credit losses 522 24 — — 546 190 736 Mortgage loans gains (losses) — 33 — — 33 691 724 Investment securities gains (losses) — (441 ) (102 ) — (543 ) (152 ) (695 ) Debt gains (losses) 165 54 531 — 750 (30 ) 720 Derivative gains (losses) 9 353 1,314 — 1,676 (406 ) 1,270 Other non-interest income 905 191 400 — 1,496 (782 ) 714 Administrative expense (1,491 ) (437 ) (365 ) — (2,293 ) — (2,293 ) REO operations (expense) income (189 ) 1 — — (188 ) 19 (169 ) Other non-interest (expense) income (1,639 ) (53 ) (11 ) — (1,703 ) (662 ) (2,365 ) Income tax (expense) benefit (944 ) (319 ) (976 ) — (2,239 ) — (2,239 ) Net income (loss) 3,908 1,319 4,008 — 9,235 — 9,235 Changes in unrealized gains (losses) related to available-for-sale securities — (82 ) (640 ) — (722 ) — (722 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 114 — 114 — 114 Changes in defined benefit plans (3 ) (1 ) (1 ) — (5 ) — (5 ) Total other comprehensive income (loss), net of taxes (3 ) (83 ) (527 ) — (613 ) — (613 ) Comprehensive income (loss) $3,905 $1,236 $3,481 $— $8,622 $— $8,622 Year Ended December 31, 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 $— $1,206 $3,279 $— $4,485 $9,679 $14,164 Guarantee fee income 6,350 676 — — 7,026 (6,364 ) 662 Benefit (provision) for credit losses (770 ) (13 ) — — (783 ) 867 84 Mortgage loans gains (losses) — 1,096 — — 1,096 930 2,026 Investment securities gains (losses) — 237 1,048 — 1,285 (249 ) 1,036 Debt gains (losses) (208 ) (10 ) 437 — 219 (68 ) 151 Derivative gains (losses) (37 ) 181 (587 ) — (443 ) (1,545 ) (1,988 ) Other non-interest income 1,838 162 5,788 — 7,788 (2,806 ) 4,982 Administrative expense (1,381 ) (395 ) (330 ) — (2,106 ) — (2,106 ) REO operations (expense) income (203 ) — — — (203 ) 14 (189 ) Other non-interest (expense) income (1,382 ) (66 ) (82 ) — (1,530 ) (458 ) (1,988 ) Income tax expense (1,448 ) (1,060 ) (3,296 ) (5,405 ) (11,209 ) — (11,209 ) Net income (loss) 2,759 2,014 6,257 (5,405 ) 5,625 — 5,625 Changes in unrealized gains (losses) related to available-for-sale securities — (86 ) (167 ) — (253 ) — (253 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 124 — 124 — 124 Changes in defined benefit plans 40 9 13 — 62 — 62 Total other comprehensive income (loss), net of taxes 40 (77 ) (30 ) — (67 ) — (67 ) Comprehensive income (loss) $2,799 $1,937 $6,227 ($5,405 ) $5,558 $— $5,558 Year Ended December 31, 2016 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 $— $1,022 $3,736 $— $4,758 $9,621 $14,379 Guarantee fee income 6,356 511 — — 6,867 (6,354 ) 513 Benefit (provision) for credit losses (481 ) 22 — — (459 ) 1,262 803 Mortgage loans gains (losses) — 972 — — 972 (772 ) 200 Investment securities gains (losses) — 28 165 — 193 (462 ) (269 ) Debt gains (losses) (322 ) (53 ) 77 — (298 ) (175 ) (473 ) Derivative gains (losses) (69 ) 407 1,151 — 1,489 (1,763 ) (274 ) Other non-interest income 928 219 481 — 1,628 (825 ) 803 Administrative expense (1,323 ) (362 ) (320 ) — (2,005 ) — (2,005 ) REO operations (expense) income (298 ) — — — (298 ) 11 (287 ) Other non-interest (expense) income (1,169 ) (58 ) 19 — (1,208 ) (543 ) (1,751 ) Income tax expense (1,185 ) (890 ) (1,749 ) — (3,824 ) — (3,824 ) Net income (loss) 2,437 1,818 3,560 — 7,815 — 7,815 Changes in unrealized gains (losses) related to available-for-sale securities — (234 ) (591 ) — (825 ) — (825 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 141 — 141 — 141 Changes in defined benefit plans (9 ) (2 ) (2 ) — (13 ) — (13 ) Total other comprehensive income (loss), net of taxes (9 ) (236 ) (452 ) — (697 ) — (697 ) Comprehensive income (loss) $2,428 $1,582 $3,108 $— $7,118 $— $7,118

Concentration of Credit and Oth

Concentration of Credit and Other Risks	12 Months Ended
	Dec. 31, 2018
Risks and Uncertainties [Abstract]
CONCENTRATION OF CREDIT AND OTHER RISKS	Concentration of Credit and Other Risks Concentrations of credit risk may arise when we do business with a number of customers or counterparties that engage in similar activities or have similar economic characteristics that make them vulnerable in similar ways to changes in industry conditions, which could affect their ability to meet their contractual obligations. Concentrations of credit risk may also arise when there are a limited number of counterparties in a certain industry. Based on our assessment of business conditions that could affect our financial results, we have determined that concentrations of credit risk exist among certain borrowers (including geographic concentrations and loans with certain higher risk characteristics), loan sellers and servicers, mortgage insurers, cash and other investment counterparties, and non-agency mortgage-related security issuers. In the sections below, we discuss our concentration of credit risk for each of the groups to which we are exposed. For a discussion of our derivative counterparties as well as related master netting, and collateral agreements, see Note 10 . Single-Family Credit Guarantee Portfolio Regional economic conditions may affect a borrower's ability to repay his or her loan and/or the property value underlying the loan. Geographic concentrations increase the exposure of our portfolio to changes in credit risk. Single-family borrowers are primarily affected by home prices, unemployment rates, and interest rates. The table below summarizes the concentration by loan portfolio and geographic area of the approximately $1.9 trillion and $1.8 trillion UPB of our single-family credit guarantee portfolio at December 31, 2018 and December 31, 2017 , respectively. See Note 4 and Note 7 for more information about credit risk associated with loans and mortgage-related securities that we hold or guarantee. Table 14.1 - Concentration of Credit Risk of Our Single-Family Credit Guarantee Portfolio December 31, 2018 December 31, 2017 Percent of Credit Losses Percentage of Portfolio Serious Delinquency Rate Percentage of Portfolio Serious Delinquency Rate 2018 2017 Core single-family loan portfolio 82 % 0.22 % 78 % 0.35 % 10 % 3 % Legacy and relief refinance single-family loan portfolio 18 1.93 22 2.59 90 97 Total 100 % 0.69 100 % 1.08 100 % 100 % Region (1) West 30 % 0.38 30 % 0.47 17 % 27 % Northeast 24 0.96 25 1.24 39 34 North Central 16 0.63 16 0.81 19 15 Southeast 16 0.90 16 1.95 18 20 Southwest 14 0.57 13 0.98 7 4 Total 100 % 0.69 100 % 1.08 100 % 100 % State (2) California 18 % 0.35 18 % 0.41 11 % 18 % New York 5 1.37 5 1.74 11 9 Florida 6 1.01 6 3.33 10 13 New Jersey 3 1.24 3 1.78 9 9 Illinois 5 0.86 5 1.13 9 9 All other 63 0.64 63 0.91 50 42 Total 100 % 0.69 % 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 the year ended December 31, 2018 . The REO balance, net at December 31, 2018 and December 31, 2017 associated with single-family properties was $0.8 billion and $0.9 billion , respectively, and the balance associated with multifamily properties was $0 million and $6 million , respectively. Our single-family REO inventory consisted of 7,100 properties and 8,299 properties at December 31, 2018 and December 31, 2017 , respectively. Although the average length of the foreclosure process has been trending downward in recent years for some jurisdictions, it remained elevated in others, particularly states with a judicial foreclosure process, which extends the time it takes for loans to be foreclosed upon and the underlying property to transition to REO. 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 may have an even higher risk of delinquency than those with an individual attribute. Table 14.2 - Certain Higher Risk Categories in Our Single-Family Credit Guarantee Portfolio Percentage of Portfolio (1) Serious Delinquency Rate (1) (Percentage of portfolio based on UPB) December 31, 2018 December 31, 2017 December 31, 2018 December 31, 2017 Interest-only 1 % 1 % 3.43 % 4.97 % Alt-A 1 1 4.13 5.62 Original LTV ratio greater than 90% (2) 18 17 1.04 1.70 Lower credit scores at origination (less than 620) 2 2 4.59 6.34 (1) Excludes loans underlying certain other securitization products for which data was not available. (2) Includes HARP loans, which we purchased as part of our participation in the MHA Program. We categorize our investments in non-agency mortgage-related securities as subprime, option ARM, or Alt-A if the securities were identified as such based on information provided to us when we entered into these transactions. We do not consider option ARM, CMBS, obligations of states and political subdivisions, and manufactured housing securities as either subprime or Alt-A securities. See Note 7 for further information on these categories and other concentrations in our investments in securities. Multifamily Mortgage Portfolio Numerous factors affect a multifamily borrower's ability to repay the loan and the value of the property underlying the loan. The most significant factors affecting credit risk are rental rates and capitalization rates for the mortgaged property. Rental rates vary among geographic regions of the United States. The average UPB for multifamily loans is significantly larger than for single-family loans and, therefore, individual defaults for multifamily borrowers can result in more significant losses. The table below summarizes the concentration of multifamily loans in our multifamily mortgage portfolio classified by legal structure, based on UPB. Table 14.3 - Concentration of Credit Risk of Our Multifamily Mortgage Portfolio As of December 31, 2018 As of December 31, 2017 (Dollars in billions) UPB Delinquency Rate (1) UPB Delinquency Rate (1) Unsecuritized loans $34.8 0.01 % $38.2 0.01 % Securitization-related products 226.9 0.01 192.5 0.02 Other mortgage-related guarantees 9.8 — 10.0 — Total $271.5 0.01 % $240.7 0.02 % (1) Based on loans two monthly payments or more delinquent or in foreclosure. In the multifamily mortgage portfolio, the primary concentration of credit risk is based on the legal structure of the investments we hold. Our exposure to credit risk in K Certificates and SB Certificates is minimal, as the expected credit risk is absorbed by the subordinate tranches, which are generally sold to private investors. As a result, our multifamily mortgage credit risk is primarily related to loans that have not been securitized. Sellers and Servicers We acquire a significant portion of our single-family and multifamily loan purchase volume from several large sellers. The tables below summarize the concentration of single-family and multifamily sellers who provided 10% or more of our purchase volume. Table 14.4 - Seller Concentration Single-family Sellers 2018 2017 Wells Fargo Bank, N.A. 12 % 15 % Other top 10 sellers 38 38 Top 10 single-family sellers 50 % 53 % Multifamily Sellers 2018 2017 CBRE Capital Markets, Inc. 18 % 18 % Berkadia Commercial Mortgage LLC 13 11 Walker & Dunlop, LLC 9 10 Other top 10 sellers 39 39 Top 10 multifamily sellers 79 % 78 % 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 20% of our single-family purchase volume during 2018 and 2017, respectively. We are exposed to counterparty credit risk arising from the potential insolvency or non-performance by our sellers and servicers of their obligations to repurchase loans or (at our option) indemnify us in the event of breaches of the representations and warranties they made when they sold the loans to us or failure to comply with our servicing requirements. Our contracts require that a seller/servicer repurchase a loan after we issue a repurchase request, unless the seller/servicer avails itself of an appeals process provided for in our contracts, in which case the deadline for repurchase is extended until we decide on the appeal. As of December 31, 2018 and December 31, 2017 , the UPB of loans subject to our repurchase requests issued to our single-family sellers and servicers was approximately $0.4 billion and $0.2 billion , respectively (these figures include repurchase requests for which appeals were pending). During both 2018 and 2017 , we recovered amounts that covered losses with respect to $0.3 billion in UPB of loans subject to our repurchase requests. At the direction of FHFA, we and Fannie Mae revised our representation and warranty framework for conventional loans purchased by the GSEs on or after January 1, 2013. The objective of the revised framework is to clarify lenders' repurchase exposures and liability on future sales of loans to Freddie Mac and Fannie Mae. This framework does not affect seller/servicers' obligations under their contracts with us with respect to loans sold to us prior to January 1, 2013. This framework also does not affect their obligation to service these loans in accordance with our servicing standards. Under this framework, sellers are relieved of certain repurchase obligations for loans that meet specific payment requirements. This includes, subject to certain exclusions, loans with 36 months (12 months for relief refinance loans) of consecutive, on-time payments after we purchase them. In May 2014, we announced changes to our representation and warranty framework for loans acquired on and after July 1, 2014. These changes relieve sellers of additional representations and warranties for these loans and provide relief for loans we have fully reviewed in our quality control process and determined to be acceptable. As of December 31, 2018 , approximately 75% in UPB of loans in our single-family credit guarantee portfolio were purchased since January 1, 2013 and are subject to our revised representation and warranty framework. At the direction of FHFA, we implemented a new remedies framework for the categorization of loan origination defects for loans with settlement dates on or after January 1, 2016. Among other items, the framework provides that "significant defects" will result in a repurchase request or a repurchase alternative, such as recourse or indemnification. We may require the seller to pay us additional fees or provide us with additional data on the loan. The ultimate amounts of recovery payments we receive from seller/servicers related to their repurchase obligations may be significantly less than the amount of our estimates of potential exposure to losses. Our estimate of probable incurred losses for exposure to seller/servicers for their repurchase obligations is considered in our allowance for loan losses. See Note 4 for further information. We are also exposed to the risk that servicers might fail to service loans in accordance with our contractual requirements, resulting in increased credit losses. For example, our servicers have an active role in our loss mitigation efforts, and we therefore have exposure to them to the extent a decline in their performance results in a failure to realize the anticipated benefits of our loss mitigation plans. Since we do not have our own servicing operation, if our servicers lack appropriate controls, experience a failure in their controls, or experience an operating disruption in their ability to service loans, our business and financial results could be adversely affected. Significant portions of our single-family and multifamily loans are serviced by several large servicers. The tables below summarize 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. Table 14.5 - Servicer Concentration Single-family Servicers December 31, 2018 (1) December 31, 2017 (1) Wells Fargo Bank, N.A. 17 % 18 % Other top 10 servicers 39 40 Top 10 single-family servicers 56 % 58 % Multifamily Servicers December 31, 2018 December 31, 2017 Wells Fargo Bank, N.A. 14 % 16 % CBRE Capital Markets, Inc. 14 12 Berkadia Commercial Mortgage LLC 11 11 Other top 10 servicers 36 36 Top 10 multifamily servicers 75 % 75 % (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. 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 December 31, 2018 and December 31, 2017 , approximately 16% and 15% of our single-family credit guarantee portfolio, respectively, excluding loans where we do not exercise control over the associated servicing, was serviced by our five largest non-depository servicers, on a combined basis. We routinely monitor the performance of our largest non-depository servicers. In our multifamily business, we are exposed to the risk that multifamily seller/servicers could come under financial pressure, which could potentially cause degradation in the quality of the servicing they provide us, including their monitoring of each property's financial performance and physical condition. This could also, in certain cases, reduce the likelihood that we could recover losses through lender repurchases, recourse agreements or other credit enhancements, where applicable. This risk primarily relates to multifamily loans that we hold on our consolidated balance sheets where we retain all of the related credit risk. We monitor the status of all our multifamily seller/servicers in accordance with our counterparty credit risk management framework. Credit Enhancement Providers 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 also have similar exposure to insurers and reinsurers through our ACIS transactions where we purchase insurance policies as part of our CRT activities. 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 December 31, 2018 , mortgage insurers provided coverage with maximum loss limits of $97.0 billion , for $378.7 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. Because Genworth Mortgage Insurance Corporation, a subsidiary of Genworth Financial, Inc., is an approved mortgage insurer, Freddie Mac has evaluated the planned acquisition and approved China Oceanwide Holdings Group's control of Genworth Mortgage Insurance Corporation. Regulatory and other approvals of the acquisition are still pending. Table 14.6 - Mortgage Insurer Concentration Mortgage Insurance Coverage (2) Mortgage Insurer Credit Rating (1) December 31, 2018 December 31, 2017 Arch Mortgage Insurance Company A- 24 % 24 % Radian Guaranty Inc. BBB 20 21 Mortgage Guaranty Insurance Corporation BBB 19 19 Genworth Mortgage Insurance Corporation BB+ 14 15 Essent Guaranty, Inc. BBB+ 14 12 Total 91 % 91 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Latest rating available as of December 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 $0.2 billion and $0.4 billion during 2018 and 2017 , respectively, from our primary and pool mortgage insurance policies for recovery of losses on our single-family loans. We had outstanding receivables from mortgage insurers of $0.1 billion (excluding deferred payment obligations associated with unpaid claim amounts) as of both December 31, 2018 and December 31, 2017 . The balance of these receivables, net of associated reserves, was approximately $0.1 billion at both December 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. These insurers no longer issue new insurance but continue to pay a portion of their respective claims in cash. In 2014, PMI began paying valid claims 67% in cash, 33% in deferred payment obligations, and made a one-time cash payment to us for claims that were previously settled for 55% in cash. In 2015, PMI began paying valid claims 70% in cash, 30% in deferred payment obligations, and made a one-time cash payment to us for claims that were previously settled for 67% in cash. In 2013, Triad began paying valid claims 75% in cash, 25% in deferred payment obligations, and made a one-time cash payment to us for claims that were previously settled for 60% in cash. If, as we currently expect, these insurers do not pay the full amount of their deferred payment obligations in cash, we would lose a portion of the coverage from these insurers. As of both December 31, 2018 and December 31, 2017 , we had cumulative unpaid deferred payment obligations of $0.5 billion from these insurers. We have reserved substantially 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. RMIC is under regulatory supervision and is no longer issuing new insurance. In 2014, RMIC resumed paying valid claims at 100% of the claim amount. Previously, RMIC had been paying all valid claims 60% in cash and 40% in deferred payment obligations. As part of our ACIS transactions, we regularly obtain insurance coverage from global insurers and reinsurers. These transactions incorporate several features designed to increase the likelihood that we will recover on the claims we file with the insurers and reinsurers, including the following: n In each ACIS transaction, we require the individual ACIS insurers and reinsurers to post collateral to cover portions of their exposure, which helps to promote certainty and timeliness of claim payment and n While private mortgage insurance companies are required to be monoline (i.e., to participate solely in the mortgage insurance business, although the holding company may be a diversified insurer), our ACIS insurers and reinsurers generally participate in multiple types of insurance businesses, which helps diversify their risk exposure. Other Investment Counterparties We are exposed to the non-performance of counterparties relating to 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 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 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, GSD/FICC, highly-rated supranational institutions, depository and non-depository institutions, brokers and dealers, and government money market funds. As of December 31, 2018 and December 31, 2017 , including amounts related to our consolidated VIEs, the balance of our other investments portfolio was $63.1 billion and $89.8 billion , respectively. The balance consists primarily of cash, securities purchased under agreements to resell invested with counterparties, U.S. Treasury securities, cash deposited with the Federal Reserve Bank of New York, and secured lending activities. As of December 31, 2018 , all of our securities purchased under agreements to resell were fully collateralized. As of December 31, 2018 and December 31, 2017, $2.5 billion , and $0.2 billion 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 credit risk of these institutions. Non-Agency Mortgage-Related Security Issuers We are engaged in various loss mitigation efforts concerning certain investments in non-agency mortgage-related securities, including the matters described below. In 2011, FHFA, as Conservator for Freddie Mac and Fannie Mae, filed lawsuits against a number of corporate families of financial institutions and related defendants alleging securities laws violations, and in some cases, fraud. On July 12, 2017, FHFA reached a settlement with the Royal Bank of Scotland Group plc, related companies and specifically named individuals (collectively RBS). The settlement resolves all claims in the lawsuit filed by FHFA against RBS in the U.S. District Court for the District of Connecticut. Under the terms of the agreement, RBS paid Freddie Mac $4.5 billion . We recognized this amount within non-interest income on our consolidated statements of comprehensive income during the third quarter of 2017. The separate lawsuit filed by FHFA against Nomura Holding America, Inc. (Nomura) and RBS in the U.S. District Court for the Southern District of New York went to trial in March 2015. In May 2015, the judge ruled against the defendants and ordered them to pay an aggregate of $806 million , of which $779 million was to be paid to Freddie Mac, adjusted by any principal and interest collected by Freddie Mac between the date of the judgment and the date on which the judgment was executed. The judgment also provided for Freddie Mac to transfer to defendants the six mortgage-related securities at issue in the case and ordered the defendants to reimburse Freddie Mac for certain costs, legal fees and expenses. In September 2017, the U.S. Court of Appeals for the Second Circuit affirmed the District Court's decision. Nomura and RBS filed a petition for writ of certiorari in the U.S. Supreme Court, and on June 25, 2018, the U.S. Supreme Court denied certiorari. On July 20, 2018, Freddie Mac received approximately $652 million , which included post-judgment interest, and tendered to Nomura the six certificates at issue. In addition, Freddie Mac received $16.5 million from Nomura as reimbursement of attorneys' fees and costs. We recognized the benefit of the judgment during 2Q 2018 and recorded a gain of $334 million within non-interest income on our consolidated statements of comprehensive income.

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 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. Valuation Risk and Controls Over Fair Value Measurements Valuation risk is the risk that fair values used for financial disclosures, risk metrics, and performance measures do not reasonably reflect market conditions and prices. We designed our control processes so that our fair value measurements are appropriate and reliable, that they are based on observable inputs where possible, and that our valuation approaches are consistently applied and the assumptions and inputs are reasonable. Our control processes provide a framework for segregation of duties and oversight of our fair value methodologies, techniques, validation procedures, and results. Groups within our Finance Division, independent of our business functions, execute and validate the valuation processes and are responsible for determining the fair values of the majority of our financial assets and liabilities. In determining fair value, we consider the credit risk of our counterparties in estimating the fair values of our assets and our own credit risk in estimating the fair values of our liabilities. The fair values determined by our Finance Division are further verified by an independent group within our ERM Division. The independent validation procedures performed by the ERM Division are intended to ensure that the prices we receive from third parties are consistent with our observations of market activity, and that fair value measurements developed using internal data reflect the assumptions that a market participant would use in pricing our assets and liabilities. These validation procedures include performing a daily price review and a monthly independent verification of fair value measurements through independent modeling, analytics, and comparisons to other market source data, if available. If we are unable to validate the reasonableness of a given price, we ultimately do not use that price for fair value measurements on our consolidated financial statements. These procedures are risk-based and are executed before we finalize the prices used in preparing our fair value measurements for our financial statements. In addition to performing the validation procedures noted above, the ERM Division provides independent risk governance over all valuation processes by establishing and maintaining a corporate-wide valuation risk policy. The ERM Division also independently reviews significant judgments, methodologies, and valuation techniques to ensure compliance with established policies. Our Valuation Risk Committee (Valuation Committee), which includes representation from our business lines, the ERM Division, and the Finance Division, provides senior management's governance over valuation processes, methodologies, controls, and fair value measurements. Identified exceptions are reviewed and resolved through the verification process and reviewed at the Valuation Committee. Where models are employed to assist in the measurement and verification of fair values, changes made to those models during the period are reviewed and approved according to the corporate model change governance process, with material changes reviewed at the Valuation Committee. Inputs used by models are regularly updated for changes in the underlying data, assumptions, valuation inputs, and market conditions and are subject to the valuation controls noted above. Use of Third-Party Pricing Data in Fair Value Measurement Many of our valuation techniques use, either directly or indirectly, data provided by third-party pricing services or dealers. The techniques used by these pricing services and dealers to develop the prices generally are either: n A comparison to transactions involving instruments with similar collateral and risk profiles, adjusted as necessary based on specific characteristics of the asset or liability being valued or n Industry-standard modeling, such as a discounted cash flow model. The prices provided by the pricing services and dealers reflect their observations and assumptions related to market activity, including risk premiums and liquidity adjustments. The models and related assumptions used by the pricing services and dealers are owned and managed by them and, in many cases, the significant inputs used in the valuation techniques are not reasonably available to us. However, we have an understanding of the processes and assumptions used to develop the prices based on our ongoing due diligence, which includes discussions with our vendors at least annually and often more frequently. We believe that the procedures executed by the pricing services and dealers, combined with our internal verification and analytical procedures, provide assurance that the prices used in our financial statements comply with the accounting guidance for fair value measurements and disclosures and reflect the assumptions that a market participant would use in pricing our assets and liabilities. The price quotes we receive are non-binding both to us and to our counterparties. In many cases, we receive quotes from third-party pricing services or dealers and use those prices without adjustment. For a large majority of the assets and liabilities we value using pricing services and dealers, we obtain quotes from multiple external sources and use the median of the prices to measure fair value. This technique is referred to below as "median of external sources." The significant inputs used in the fair value measurement of assets and liabilities that are valued using the median of external sources pricing technique are the third-party quotes. Significant increases (decreases) in any of the third-party quotes in isolation may result in a significantly higher (lower) fair value measurement. In limited circumstances, we may be able to receive pricing information from only a single external source. This technique is referred to below as "single external source." Valuation Techniques The following table contains a description of the valuation techniques we use for fair value measurement and disclosure; the significant inputs used in those techniques (if applicable); the classification within the fair value hierarchy; and, for those measurements that we report on our consolidated balance sheets and are classified as Level 3 of the hierarchy, a narrative description of the uncertainty of the fair value measurement to changes in significant unobservable inputs. Although the uncertainties of the unobservable inputs are discussed below in isolation, interrelationships exist among the inputs such that a change in one unobservable input can result in a change to one or more of the other inputs. For example, the most common interrelationship that affects the majority of our fair value measurements is between future interest rates, prepayment speeds, and probabilities of default. Generally, a change in the assumption used for future interest rates results in a directionally opposite change in the assumption used for prepayment speeds and a directionally similar change in the assumption used for probabilities of default. Each technique discussed below may not be used in a given reporting period, depending on the composition of our assets and liabilities measured at fair value and relevant market activity during that period. Instrument Valuation Technique Classification in the Fair Value Hierarchy Securities U.S. Treasury Securities Quoted prices in active markets Level 1 Agency mortgage-related securities Fixed-rate single-class Median of external sources Level 2 Adjustable-rate single-class and majority of multi-class securities Median of external sources Predominantly Level 2 Certain multi-class securities Single external source Levels 2 and 3 Certain multi-class securities with limited market activity Discounted cash flows or risk metric pricing. Significant inputs used in the discounted cash flow technique include OAS. Significant increases (decreases) in the OAS in isolation would result in a significantly lower (higher) fair value measurement. Significant inputs used in the risk metric pricing technique include key risk metrics, such as key rate durations. Significant increases (decreases) in key rate durations in isolation would result in a significant increase (decrease) in the magnitude of change of fair value measurement in response to key rate movements. Under risk metric pricing, securities are valued by starting with a prior period price and adjusting that price for market changes in the key risk metric input used. Level 3 Commercial mortgage-related securities Single external source or, in limited circumstances, a median of external sources Predominantly Level 3 Other non-agency mortgage-related securities Median of external sources Level 3 Derivatives Exchange-traded futures Quoted prices in active markets Level 1 Interest-rate swaps Discounted cash flows. Significant inputs include market-based interest rates. Level 2 Option-based derivatives Option-pricing models. Significant inputs include interest-rate volatility matrices. Level 2 Purchase and sale commitments See Agency mortgage-related securities Level 2 Debt Debt securities of consolidated trusts held by third parties See Agency mortgage-related securities Level 2 or 3 Other debt Median of external sources Predominantly Level 2 Single external source Published yield matrices Instrument Valuation Technique Classification in the Fair Value Hierarchy Mortgage Loans Single-family loans GSE securitization market Benchmark security pricing for actively traded mortgage-related securities with similar characteristics, adjusting for the value of our guarantee fee and our credit obligation related to performing our guarantee (see Guarantee obligation). The credit obligation is based on: delivery and guarantee fees we charge under current market pricing for loans that qualify under our current underwriting standards (Level 2) and internal credit models for loans that do not qualify under our current underwriting standards (Level 3). Level 2 or 3 Whole loan market Median of external sources, referencing market activity for deeply delinquent and modified loans, where available Level 3 Impaired held-for-investment Internal models that estimate the fair value of the underlying collateral for impaired loans. Significant inputs used by our internal models include REO disposition, short sale, and third-party sale values, combined with mortgage loan level characteristics using the repeat housing sales index to estimate the current fair value of the mortgage loan. Significant increases (decreases) in the historical average sales proceeds per mortgage loan in isolation would result in significantly higher (lower) fair value measurements. Level 3 Multifamily loans Held-for-sale Market prices from a third-party pricing service, using discounted cash flows based on K Certificate and SB Certificate market spreads Level 2 Held-for-investment Market prices from a third-party pricing service using discounted cash flows incorporating credit spreads for similar loans based on the loan's LTV and DSCR Level 3 Other Assets Guarantee asset Single-family Median of external sources with adjustments for specific loan characteristics Level 3 Multifamily Discounted cash flows. Significant inputs include current OAS-to-benchmark interest rates for new guarantees. Significant increases (decreases) in the OAS in isolation would result in a significantly lower (higher) fair value measurement. Level 3 Mortgage servicing rights Market prices from a third party or internally developed prices using discounted cash flows. Significant inputs include: Level 3 Ÿ Estimated prepayment rates, Ÿ Estimated costs to service both performing and non-accrual loans, and Ÿ Estimated servicing income per loan (including ancillary income). Instrument Valuation Technique Classification in the Fair Value Hierarchy Significant increases (decreases) in cost to service per loan and prepayment rate in isolation would result in a significantly lower (higher) fair value measurement. Significant increases (decreases) in servicing income per loan in isolation would result in a significantly higher (lower) fair value measurement. Other Liabilities Guarantee obligation Single-family Delivery and guarantee fees that we charge under our current market pricing Level 2 Internal credit models. Significant inputs include loan characteristics, loan performance, and status information. Level 3 Multifamily Discounted cash flows. Significant inputs are similar to those used in the valuation technique for the Multifamily guarantee asset. Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis The tables below present our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis subsequent to initial recognition, including instruments where we have elected the fair value option. Table 15.1 - Assets and Liabilities Measured at Fair Value on a Recurring Basis December 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 $— $26,102 $4,097 $— $30,199 Other agency — 1,668 38 — 1,706 Non-agency RMBS — — 1,403 — 1,403 Non-agency CMBS — 18 — — 18 Obligations of states and political subdivisions — — 237 — 237 Total available-for-sale securities, at fair value — 27,788 5,775 — 33,563 Trading, at fair value: Mortgage-related securities: Freddie Mac — 10,535 3,286 — 13,821 Other agency — 2,544 7 — 2,551 All other — — 1 — 1 Total mortgage-related securities — 13,079 3,294 — 16,373 Non-mortgage-related securities 15,885 3,290 — — 19,175 Total trading securities, at fair value 15,885 16,369 3,294 — 35,548 Total investments in securities 15,885 44,157 9,069 — 69,111 Mortgage loans: Held-for-sale, at fair value — 23,106 — — 23,106 Derivative assets, net: Interest-rate swaps — 2,127 — — 2,127 Option-based derivatives — 4,200 — — 4,200 Other — 90 1 — 91 Subtotal, before netting adjustments — 6,417 1 — 6,418 Netting adjustments (1) — — — (6,083 ) (6,083 ) Total derivative assets, net — 6,417 1 (6,083 ) 335 Other assets: Guarantee asset, at fair value — — 3,633 — 3,633 Non-derivative held-for-sale purchase commitments, at fair value — 159 — — 159 All other, at fair value — — 137 — 137 Total other assets — 159 3,770 — 3,929 Total assets carried at fair value on a recurring basis $15,885 $73,839 $12,840 ($6,083 ) $96,481 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $27 $728 $— $755 Other debt, at fair value — 4,223 134 — 4,357 Derivative liabilities, net: Interest-rate swaps — 3,974 — — 3,974 Option-based derivatives — 137 — — 137 Other — 225 92 — 317 Subtotal, before netting adjustments — 4,336 92 — 4,428 Netting adjustments (1) — — — (3,845 ) (3,845 ) Total derivative liabilities, net — 4,336 92 (3,845 ) 583 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 17 — — 17 Total liabilities carried at fair value on a recurring basis $— $8,603 $954 ($3,845 ) $5,712 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 $6,751 $— $37,166 Other agency — 2,007 46 — 2,053 Non-agency RMBS — — 3,933 — 3,933 Non-agency CMBS — 87 1 — 88 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 2,907 — 14,300 Other agency — 3,565 9 — 3,574 All other — 27 1 — 28 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. Level 3 Fair Value Measurements The tables below present a reconciliation of all assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3. The tables also present gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized on our consolidated statements of comprehensive income for Level 3 assets and liabilities. Table 15.2 - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs Year Ended December 31, 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 $6,751 ($31 ) ($213 ) ($244 ) $56 $— ($1,546 ) ($920 ) $— $— $4,097 ($7 ) Other agency 46 — (1 ) (1 ) — — — (6 ) — (1 ) 38 — Non-agency RMBS 3,933 948 (641 ) 307 — — (2,481 ) (356 ) — — 1,403 23 Non-agency CMBS 1 — — — — — — (1 ) — — — — Obligations of states and political subdivisions 357 — (3 ) (3 ) — — — (117 ) — — 237 — Total available-for-sale mortgage-related securities 11,088 917 (858 ) 59 56 — (4,027 ) (1,400 ) — (1 ) 5,775 16 Trading, at fair value: Mortgage-related securities: Freddie Mac 2,907 (515 ) — (515 ) 1,484 — (1,058 ) (79 ) 579 (32 ) 3,286 (448 ) Other agency 9 (2 ) — (2 ) — — — — — — 7 (1 ) All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 2,917 (517 ) — (517 ) 1,484 — (1,058 ) (79 ) 579 (32 ) 3,294 (449 ) Other assets: Guarantee asset 3,171 (80 ) — (80 ) — 1,118 — (576 ) — — 3,633 (80 ) All other, at fair value 45 28 — 28 102 31 (57 ) (12 ) — — 137 25 Total other assets $3,216 ($52 ) $— ($52 ) $102 $1,149 ($57 ) ($588 ) $— $— $3,770 ($55 ) 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 ($2 ) $— ($2 ) $— $100 $— $— $— $— $728 ($2 ) Other debt, at fair value 137 — — — — 2 — (5 ) — — 134 — Net derivatives (2) $57 $37 $— $37 $— $15 $— ($18 ) $— $— $91 $20 Referenced footnotes are included after the prior period tables. Year Ended December 31, 2017 Balance, January 1, 2017 Realized and unrealized gains (losses) Purchases Issues Sales Settlements, net Transfers into Level 3 (1) Transfers out of Level 3 (1) Balance, December 31, 2017 Unrealized gains (losses) still held (3) (In millions) Included in earnings Included in other comprehensive income Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $9,847 ($12 ) $103 $91 $2,175 $— ($932 ) ($1,352 ) $17 ($3,095 ) $6,751 ($22 ) Other agency 66 — (1 ) (1 ) — — — (11 ) — (8 ) 46 — Non-agency RMBS 11,797 1,564 (270 ) 1,294 — — (7,688 ) (1,470 ) — — 3,933 124 Non-agency CMBS 3,366 347 (120 ) 227 — — (3,556 ) (36 ) — — 1 2 Obligations of states and political subdivisions 665 1 (3 ) (2 ) — — — (306 ) — — 357 — Total available-for-sale mortgage-related securities 25,741 1,900 (291 ) 1,609 2,175 — (12,176 ) (3,175 ) 17 (3,103 ) 11,088 104 Trading, at fair value: Mortgage-related securities: Freddie Mac 1,207 (136 ) — (136 ) 2,655 — (592 ) (36 ) 14 (205 ) 2,907 (125 ) Other agency 12 (3 ) — (3 ) — — — — — — 9 (3 ) All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 1,220 (139 ) — (139 ) 2,655 — (592 ) (36 ) 14 (205 ) 2,917 (128 ) Other assets: Guarantee asset 2,298 (27 ) — (27 ) — 1,387 — (487 ) — — 3,171 (26 ) All other, at fair value 2 (10 ) — (10 ) 33 31 (11 ) — — — 45 (10 ) Total other assets $2,300 ($37 ) $— ($37 ) $33 $1,418 ($11 ) ($487 ) $— $— $3,216 ($36 ) Balance, Realized and unrealized (gains) losses Purchases Issues Sales Settlements, net Transfers into Level 3 (1) Transfers out of Level 3 (1) Balance, Unrealized (gains) losses still held (3) Included in earnings Included in other comprehensive income Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $— $— $— $— $— $630 $— $— $— $— $630 $— Other debt, at fair value 95 — — — — 50 — (8 ) — — 137 — Net derivatives (2) $52 $40 $— $40 $— ($10 ) $— ($25 ) $— $— $57 $20 (1) Transfers out of Level 3 during 2018 and 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 2018 and 2017 consisted primarily of certain mortgage-related securities due to a decrease in market activity and the availability of 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 December 31, 2018 and December 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 consolidated balance sheets at fair value on a recurring basis. Table 15.3 - Quantitative Information about Recurring Level 3 Fair Value Measurements December 31, 2018 Level 3 Predominant Unobservable Inputs ( Dollars in millions , except for certain unobservable inputs as shown) Type Range Weighted Assets Available-for-sale, at fair value Mortgage-related securities Freddie Mac $2,838 Discounted cash flows OAS 30 - 325 bps 81 bps 1,259 Single external source External pricing sources $96.1 - $104.1 $102.3 Non-agency RMBS 1,403 Median of external sources External pricing sources $64.3 - $71.1 $67.3 Obligations of states and political subdivisions 237 Single external source External pricing sources $93.1 - $110.7 $100.7 Trading, at fair value Mortgage-related securities Freddie Mac 1,587 Single external source External pricing sources $0.0 - $99.2 $56.6 1,178 Discounted cash flows OAS (21,945) - 6,639 bps 90 bps 521 Other Guarantee asset, at fair value 3,391 Discounted cash flows OAS 17-198 bps 49 bps 242 Other Insignificant Level 3 assets (1) 184 Total level 3 assets 12,840 Liabilities Debt securities of consolidated trusts held by third parties, at fair value 728 Single External Source External Pricing Sources $97.4 - $101.1 $99.6 Insignificant Level 3 liabilities (1) 226 Referenced footnotes are included after the next table. December 31, 2017 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions , except for certain unobservable inputs as shown) Type Range Weighted Average Assets Available-for-sale, at fair value Mortgage-related securities Freddie Mac $5,020 Discounted cash flows OAS 27 - 501 bps 68 bps 1,731 Single external source External pricing sources $97.1 - $108.9 $108.5 Non-agency RMBS 3,933 Median of external sources External pricing sources $75.6 - $80.8 $77.7 Obligations of states and political subdivisions 357 Median of external sources External pricing sources $101.2 - $101.6 $101.4 Trading, at fair value Mortgage-related securities Freddie Mac $2,068 Single external source External pricing sources $1.2 - $101.3 $97.9 582 Discounted cash flows OAS (8,905) - 27,202 bps (88) bps 257 Other Guarantee asset, at fair value 3,171 Discounted cash flows OAS 17 - 198 bps 45 bps Insignificant Level 3 assets (1) 110 Total level 3 assets $17,229 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 Insignificant Level 3 liabilities (1) 202 (1) Represents the aggregate amount of Level 3 assets or liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant. 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. Certain of the fair values in the tables below were not obtained as of the period end, but were obtained during the period. The table below presents assets measured on our consolidated balance sheets at fair value on a non-recurring basis. Table 15.4 - Assets Measured at Fair Value on a Non-Recurring Basis December 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) $— $24 $7,519 $7,543 $— $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 consolidated balance sheets at fair value on a non-recurring basis. Table 15.5 - Quantitative Information about Non-Recurring Level 3 Fair Value Measurements December 31, 2018 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions , except for certain unobservable inputs as shown) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $7,519 Internal model Historical sales proceeds $3,000 - $750,500 $177,725 Internal model Housing sales index 44 - 480 bps 108 bps Median of external sources External pricing sources $36.2 - $94.6 $82.5 December 31, 2017 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars 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, secured lending and other, 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 fair value volatility. Table 15.6 - Fair Value of Financial Instruments December 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 $7,273 $7,273 $— $— $— $7,273 Securities purchased under agreements to resell Amortized cost 34,771 — 34,771 — — 34,771 Investments in securities: Available-for-sale, at fair value FV - OCI 33,563 — 27,788 5,775 — 33,563 Trading, at fair value FV - NI 35,548 15,885 16,369 3,294 — 35,548 Total investments in securities 69,111 15,885 44,157 9,069 — 69,111 Mortgage loans: Loans held by consolidated trusts 1,842,850 — 1,605,874 209,542 — 1,815,416 Loans held by Freddie Mac 84,128 — 33,946 52,212 — 86,158 Total mortgage loans Various (4) 1,926,978 — 1,639,820 261,754 — 1,901,574 Derivative assets, net FV - NI 335 — 6,417 1 (6,083 ) 335 Guarantee asset FV - NI 3,633 — — 3,642 — 3,642 Non-derivative purchase commitments, at fair value FV - NI 159 — 159 2 — 161 Secured lending and other Amortized cost 1,805 — 195 873 — 1,068 Total financial assets $2,044,065 $23,158 $1,725,519 $275,341 ($6,083 ) $2,017,935 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $1,792,677 $— $1,759,911 $2,698 $— $1,762,609 Other debt 252,273 — 251,543 3,629 — 255,172 Total debt, net Various (5) 2,044,950 — 2,011,454 6,327 — 2,017,781 Derivative liabilities, net FV - NI 583 — 4,336 92 (3,845 ) 583 Guarantee obligation Amortized cost 3,561 — — 4,146 — 4,146 Non-derivative purchase commitments, at fair value FV - NI 17 — 17 11 — 28 Total financial liabilities $2,049,111 $— $2,015,807 $10,576 ($3,845 ) $2,022,538 (1) FV - NI denotes fair value through net income. FV - OCI denotes fair value through other comprehensive income. (2) Represents counterparty netting, cash c

Legal Contingencies

Legal Contingencies	12 Months Ended
	Dec. 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. On August 14, 2018, the District Court denied the plaintiff's motion for class certification. On January 23, 2019, the Court of Appeals denied plaintiff's petition for leave to appeal that decision. 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: pre-trial litigation is inherently uncertain; while the District Court denied plaintiff's motion for class certification, this denial may be appealed upon the entry of final judgment; and the District Court has not yet ruled upon motions for summary judgment. In particular, absent a final resolution of whether a class will be certified, the identification of a class if one is certified, 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. On June 15, 2018, Freddie Mac filed a motion for leave to file an amended complaint, along with a proposed amended complaint. 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. On August 16, 2018, plaintiffs in the In re Fannie Mae/Freddie Mac Senior Preferred Stock Purchase Agreement Class Action Litigations case filed a motion for class certification in the District Court. On September 28, 2018, the District Court dismissed all of the claims except those alleging breach of the implied covenant of good faith and fair dealing. On October 15, 2018, defendants filed a motion seeking reconsideration of the denial of the motion to dismiss as to the implied covenant claims. Discovery is ongoing. Angel vs. The Federal Home Loan Mortgage Corporation et al. This case was filed pro se on May 21, 2018 against Freddie Mac, Fannie Mae, certain current and former directors of Freddie Mac and Fannie Mae, and FHFA as a nominal defendant. The complaint alleges, among other things, breach of contract, breach of the implied covenant of good faith and fair dealing, and that defendants aided and abetted the government's "avoidance" of plaintiff's dividend rights. On July 12, 2018, the defendants filed a motion to dismiss the complaint. 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, with a redacted copy filed in November 14, 2018. Defendants filed a motion to dismiss on August 1, 2018 and an amended motion to dismiss on October 1, 2018. 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, and a redacted public version on April 20, 2018. The amended complaint no longer lists Freddie Mac as a nominal defendant. Fairholme Funds, Inc., et al. vs. the United States of America, Federal National Mortgage Association, and Federal Home Loan Mortgage Corporation. This case was originally filed on July 9, 2013 against the United States of America. On March 8, 2018, plaintiffs filed an amended complaint under seal. A redacted public version was filed on May 11, 2018 and adds Freddie Mac and Fannie Mae as nominal defendants. The amended complaint alleges, among other items, that the net worth sweep dividend provisions of the senior preferred stock constitute an unlawful taking or exaction of private property for public use without just compensation, and that by enacting the net worth sweep, the government breached the fiduciary duty it owed to Freddie Mac and Fannie Mae, and implied-in-fact contracts between the United States on the one hand and Freddie Mac and Fannie Mae on the other. The plaintiffs ask that plaintiffs, Freddie Mac, and Fannie Mae be awarded (1) just compensation for the government's alleged taking or exaction of their property, (2) damages for the government's breach of fiduciary duties, and (3) damages for the government's breach of the alleged implied-in-fact contracts. In addition, plaintiffs seek pre- and post-judgment interest, attorneys' fees, costs, and other expenses. Defendants filed a motion to dismiss on August 1, 2018 and an amended motion to dismiss on October 1, 2018. Perry Capital LLC vs. the United States of America, Federal National Mortgage Association, and Federal Home Loan Mortgage Corporation. This case was filed as a derivative lawsuit, purportedly on behalf of Freddie Mac and Fannie Mae as "nominal" defendants, on August 15, 2018. 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 or an illegal exaction in violation of the Fifth Amendment, and that by enacting the net worth sweep, the government breached the fiduciary duty it owed to Freddie Mac and Fannie Mae, and implied-in-fact contracts between the United States on the one hand and Freddie Mac and Fannie Mae on the other. The plaintiffs ask that plaintiffs, Freddie Mac, and Fannie Mae be awarded just compensation for the government's alleged taking of their property or damages for the illegal exaction; damages for the government's breach of fiduciary duties; and damages for the government's breach of the alleged implied-in-fact contracts. The proceedings have been stayed pending a ruling on defendants' motion to dismiss in the Fairholme Funds, Inc. litigation. 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, and on November 14, 2018, the Court of Appeals affirmed the dismissal. 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	12 Months Ended
	Dec. 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. 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 the CCF. We are required to submit quarterly reports to FHFA related to CCF requirements. Regulatory Capital Standards The GSE Act established minimum, critical, and risk-based capital standards for us. However, per guidance received from FHFA, we no longer are required to submit risk-based capital reports to FHFA. Prior to our entry into conservatorship, those standards determined the amounts of core capital that we were to maintain to meet regulatory capital requirements. Core capital consisted of the par value of outstanding common stock (common stock issued less common stock held in treasury), the par value of outstanding non-cumulative, perpetual preferred stock, additional paid-in capital, and retained earnings (accumulated deficit), as determined in accordance with GAAP. Minimum Capital The minimum capital standard required us to hold an amount of core capital that was generally equal to the sum of 2.50% of aggregate on-balance sheet assets and approximately 0.45% of the sum of our PCs held by third parties and other aggregate off-balance sheet obligations. Pursuant to regulatory guidance from FHFA, our minimum capital requirement was not affected by adoption of amendments to the accounting guidance for transfers of financial assets and consolidation of VIEs effective January 1, 2010. Specifically, upon adoption of these amendments, FHFA directed us, for purposes of minimum capital, to continue reporting single-family PCs and certain other securitization products held by third parties using a 0.45% capital requirement. FHFA reserves the authority under the GSE Act to raise the minimum capital requirement for any of our assets or activities. Critical Capital The critical capital standard required us to hold an amount of core capital that was generally equal to the sum of 1.25% of aggregate on-balance sheet assets and approximately 0.25% of the sum of our PCs held by third parties and other aggregate off-balance sheet obligations. Performance Against Regulatory Capital Standards The table below summarizes our minimum capital requirements and deficits and net worth. Table 17.1 - Net Worth and Minimum Capital (In millions) December 31, 2018 December 31, 2017 GAAP net worth (deficit) $4,477 ($312 ) Core capital (deficit) (1)(2) (68,036 ) (73,037 ) Less: Minimum capital requirement (1) 17,553 18,431 Minimum capital surplus (deficit) (1) ($85,589 ) ($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. The Purchase Agreement provides that, if FHFA determines as of quarter end that our liabilities have exceeded our assets under GAAP, Treasury will contribute funds to us in an amount at least equal to the difference between such liabilities and assets. Under the GSE Act, FHFA must place us into receivership if FHFA determines that our assets are and have been less than our obligations for a period of 60 days . FHFA has notified us that the measurement period for any mandatory receivership determination with respect to our assets and obligations would commence no earlier than the SEC public filing deadline for our quarterly or annual financial statements and would continue for 60 calendar days after that date. FHFA has advised us that, if, during that 60-day period, we receive funds from Treasury in an amount at least equal to the deficiency amount under the Purchase Agreement, the Director of FHFA will not make a mandatory receivership determination. If funding has been requested under the Purchase Agreement to address a deficit in our net worth, and Treasury is unable to provide us with such funding within the 60-day period specified by FHFA, FHFA would be required to place us into receivership if our assets remain less than our obligations during that 60-day period. At December 31, 2018 , our assets exceeded our liabilities under GAAP; therefore, no draw is being requested from Treasury under the Purchase Agreement. As of December 31, 2018 , our aggregate funding received from Treasury under the Purchase Agreement was $71.6 billion . This aggregate funding amount does not include the initial $1.0 billion liquidation preference of senior preferred stock that we issued to Treasury in September 2008 as an initial commitment fee and for which no cash was received, nor does it include the additional $3.0 billion increase in the liquidation preference pursuant to the Letter Agreement. Subordinated Debt Commitment In October 2000, we announced our adoption of a series of commitments designed to enhance market discipline, liquidity, and capital. In September 2005, we entered into a written agreement with FHFA that updated those commitments and set forth a process for implementing them. FHFA, as Conservator, has suspended the requirements in the September 2005 agreement with respect to issuance, maintenance, and reporting and disclosure of Freddie Mac subordinated debt during the term of conservatorship and thereafter until instructed otherwise.

Selected Financial Statement Li

Selected Financial Statement Line Items	12 Months Ended
	Dec. 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 consolidated statements of comprehensive income (loss). Table 18.1 - Significant Components of Other Income (Loss) Year Ended December 31, (In millions) 2018 2017 2016 Other income (loss) Non-agency mortgage-related securities settlement and judgment $338 $4,532 $— Income on guarantee obligation 711 601 449 All other (335 ) (151 ) 354 Total other income (loss) $714 $4,982 $803 The table below presents the significant components of other assets and other liabilities on our consolidated balance sheets. Table 18.2 - Significant Components of Other Assets and Other Liabilities As of December 31, (In millions) 2018 2017 Other assets: Real estate owned, net $769 $892 Accounts and other receivables (1)(2) 2,447 6,924 Guarantee asset 3,633 3,171 Fixed assets 959 798 Secured lending and other (2) 1,805 1,269 All other 1,363 636 Total other assets $10,976 $13,690 Other liabilities: Servicer liabilities $289 $628 Guarantee obligation 3,561 3,081 Accounts payable and accrued expenses 1,014 754 Payables related to securities — 2,813 Income taxes payable — 656 All other 1,534 1,036 Total other liabilities $6,398 $8,968 (1) Primarily consists of servicer receivables and other non-interest receivables. (2) Current and prior period presentation has been modified to reflect certain secured lending activity. Previously this activity was included in accounts and other receivables.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with GAAP and include our accounts as well as the accounts of other entities in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated. We are operating under the basis that we will realize assets and satisfy liabilities in the normal course of business as a going concern and in accordance with the authority provided by FHFA to our Board of Directors to oversee management's conduct of our business operations. Certain amounts in prior periods' consolidated financial statements have been reclassified to conform to the current presentation. 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 and valuing financial instruments and other assets and liabilities. Actual results could be different from these estimates.
Consolidation and Equity Method of Accounting	Consolidation and Equity Method Accounting For each entity with which we are involved, we determine whether the entity should be consolidated in our financial statements. We generally consolidate entities in which we have a controlling financial interest. The method for determining whether a controlling financial interest exists varies depending on whether the entity is a VIE. For entities that are not VIEs, we hold a controlling financial interest in entities where we hold a majority of the voting rights or a majority of a limited partnership's kick-out rights through voting interests. We do not currently consolidate any entities which are not VIEs. We use the equity method to account for our interests in entities in which we do not have a controlling financial interest, but over which we have significant influence.
Cash and Cash Equivalents	Cash and Cash Equivalents Highly liquid investment securities that have an original maturity of three months or less are accounted for as cash equivalents.
Restricted Cash and Cash Equivalents	Cash collateral accepted from counterparties that we do not have the right to use for general corporate purposes is classified as restricted cash on our consolidated balance sheets. Restricted cash includes cash remittances received from servicers of the underlying assets of our consolidated trusts which are deposited into a separate custodial account. We invest the cash held in the custodial account in short-term investments and are entitled to the interest income earned on these short-term investments, which is recorded as interest income, other on our consolidated statements of comprehensive income.
Comprehensive Income	Comprehensive Income Comprehensive income includes all changes in equity during a period, except those resulting from investments by stockholders. We define comprehensive income as consisting of net income (loss) plus after-tax changes in: n Unrealized gains and losses on available-for-sale securities; n Unrealized gains and losses related to cash flow hedge relationships; and n Defined benefit plans.
Recently Adopted or Issued Accounting Guidance	Recently Issued Accounting Guidance Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Consolidated Financial Statements ASU 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 amendment did not have a material effect on our 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 amendment did not have a material effect on our 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 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 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 consolidated financial statements or on our disclosures. 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 amendments in this Update primarily address the diversity in practice that currently exists in regard 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 of the amendments, 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 $1.2 billion and $0.5 billion of cash payments from financing activities to operating activities on our consolidated statements of cash flows for the years ended December 31, 2017 and December 31, 2016. Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Consolidated Financial Statements 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 consolidated financial statements; however, we modified the presentation of restricted cash and cash equivalent balances on our consolidated balance sheets. The presentation of our 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 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 The adoption of the amendments did not have a material effect on our consolidated financial statements or on our disclosures. 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 consolidated financial statements or on our disclosures. Recently Issued Accounting Guidance, Not Yet Adopted Within Our 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. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on 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 We have developed our models to estimate lifetime expected credit losses on our financial instruments measured at amortized cost primarily using a discounted cash flow methodology. These models are currently undergoing testing and validation. The amendments will be applied through a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption. While we are not able to reasonably estimate the effect that the adoption of these amendments will have on our consolidated financial statements, it may increase (perhaps substantially) our allowance for credit losses in the period of adoption . ASU 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement The amendments in this Update modify the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurements, based on the concepts in the Concepts Statement, including the consideration of costs and benefits. Certain disclosure requirements were either removed, modified, or added. January 1, 2020 On October 1, 2018, we adopted the amendments to remove or modify certain disclosures, which did not have a material effect on the notes to our consolidated financial statements. We are delaying adoption of the amendments to add certain disclosures until their effective date. We are evaluating the effect that the adoption of the additional disclosures will have on the notes to our consolidated financial statements. ASU 2018-15 , Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract The amendments in this Update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). January 1, 2020 We do not expect that the adoption of these amendments will have a material effect on our consolidated financial statements. ASU 2018-16 , Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes The amendments in this Update permit the OIS rate based on SOFR, as an eligible U.S. benchmark interest rate for purposes of applying hedge accounting under Topic 815. January 1, 2019 We do not expect that the adoption of these amendments will have a material effect on our consolidated financial statements. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on Consolidated Financial Statements ASU 2018-17 , Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities The amendments in this Update require that indirect interests held through related parties under common control be considered on a proportional basis when determining whether fees paid to decision makers or service providers are variable interests. These amendments align with the determination of whether a reporting entity within a related party group is the primary beneficiary of a VIE. January 1, 2020 We are evaluating the effect that the adoption of these amendments will have on our consolidated financial statements. ASU 2018-20 , Leases (Topic 842): Narrow-Scope Improvements for Lessors The amendments in this Update address certain ASU 2016-02 implementation issues including the recognition of taxes collected from lessees, lessor costs paid directly by a lessee and recognition of variable payments for contracts with lease, and non-lease components. January 1, 2019 We do not expect that the adoption of these amendments will have a material effect on our consolidated financial statements.
Consolidation, Variable Interest Entity, Policy	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. See Note 5 for additional information on our guarantee activities. We also use trusts that are VIEs in certain single-family credit risk transfer products. We consolidate VIEs when we have a controlling financial interest in the VIE and are therefore considered the primary beneficiary of the VIE. We are the primary beneficiary of a VIE when we have both the power to direct the activities of the VIE that most significantly impact its economic performance and exposure to losses or benefits of the VIE that could potentially be significant to the VIE. We evaluate whether we are the primary beneficiary of VIEs in which we have interests on an ongoing basis, and our primary beneficiary determination may change over time as our interest in the VIE changes. REMICs and Stripped Giant PCs - REMICs and Stripped Giant PCs are multiclass resecuritizations of the cash flows of the underlying collateral, which may be previously issued PCs, Giant PCs, or other REMICs and Stripped Giant PCs. The activity that most significantly impacts the economic performance of our multiclass resecuritization trusts is typically the initial design and structuring of the trust. Substantially all multiclass resecuritization trusts are created as part of customer-driven transactions in which an investor or dealer participates in the decisions made during the design and establishment of the trust. As a result, we do not have the unilateral ability to direct the activities of our multiclass resecuritization trusts that most significantly impact the economic performance of those trusts. In addition, we do not have the right to receive benefits or the obligation to absorb losses that could potentially be significant to the trusts because we have already provided a guarantee on the underlying assets. As a result, we have concluded that we are not the primary beneficiary of our multiclass resecuritization trusts and, therefore, do not consolidate those trusts. Multifamily Other Risk Transfer Securitizations We are the primary beneficiary of and, therefore, consolidate the trusts used to issue our KT Certificates and K Certificates without subordination because we have the ability to direct the activities that most significantly affect the economic performance of the trusts and we have the obligation to absorb credit losses through our guarantee of some or all of the issued securities. As a result, we consolidated trusts used to issue these products with underlying assets totaling $5.0 billion and $4.4 billion at December 31, 2018 and December 31, 2017 , respectively. Our multifamily PCs are included in Note 3 - Securitization Activities - PCs . We do not consolidate the trusts used to issue our other risk transfer securitization products that do not meet these conditions, including those trusts that issue ML Certificates, KI Certificates, Q Certificates, and M Certificates. For those products, we account for our guarantee to the non-consolidated VIE. During 2018 and 2017 , we issued approximately $3.4 billion and $5.6 billion , respectively, of these securities for which a guarantee asset and guarantee obligation were generally recognized. CRT Activities STACR Trust In a STACR Trust transaction, we pay a credit premium payment to a trust that issues credit-linked notes whose repayments are based on the credit performance of a reference pool of mortgage loans. The trust issues the notes and makes periodic payments of principal and interest on the notes to investors, and we receive payments from the trust that otherwise would have been made to the noteholders to the extent there are credit events on the mortgages in the reference pool. The note balances are reduced by the amount of the payments to us. STACR Trust was designed to create and pass along to its interest holders the variability related to the credit risk of the mortgages in the reference pool. Because our credit protection arrangement is a creator rather than an absorber of that variability, we do not have a variable interest in the risk that the STACR Trust was designed to create and pass along to its interest holders and do not consolidate the trusts used in the STACR Trust transactions. Resecuritization Products We create resecuritization products primarily by using PCs or our previously issued resecuritization products as the underlying collateral. In a typical resecuritization transaction, previously issued PCs or resecuritization products are transferred to a resecuritization trust that issues beneficial interests in the underlying collateral. We establish parameters that define eligibility standards for assets that may be used as collateral for each of our resecuritization programs. Resecuritization products can then be created based on the parameters that we have established. Similar to our PCs, we guarantee the full payment of principal and interest to the investors in our resecuritization products. However, because we have already guaranteed the underlying assets, we do not assume any incremental credit risk by issuing these securities. The main types of resecuritization products we create are Giant PCs, REMICs, and Stripped Giant PCs. n Giant PCs - Giant PCs are direct pass-throughs of the cash flows of the underlying collateral, which may be previously issued PCs or Giant PCs. We do not consolidate Giant PCs as their resecuritization does not result in any new or incremental risk to the holders of the securities issued by the resecuritization trust and because we are not exposed to any incremental rights to receive benefits or obligations to absorb losses that could be significant to the resecuritization trust. SB Certificates In SB Certificate transactions, we securitize multifamily small balance loans using a non-Freddie Mac SB Certificate trust that issues senior classes of securities that we guarantee, as well as subordinated classes of securities that we do not guarantee. Similar to our K Certificate transactions, we are not the primary beneficiary of and, therefore, do not consolidate our SB Certificate trusts, as we do not have the ability to direct loss mitigation activities of the underlying loans, which is the most significant activity affecting the economic performance of the VIE. PCs PCs are pass-through debt securities that represent undivided beneficial interests in a pool of loans held by a securitization trust. We serve as both administrator and guarantor for our PC trusts. As administrator, we have the right to establish servicing terms and direct loss mitigation activities for the loans held by the PC trusts. As guarantor, we guarantee the payment of principal and interest on our PCs in exchange for a guarantee fee, and we have the right to purchase delinquent loans from the PC trust to help improve the economic performance of the trust. We absorb all credit losses of the PC trusts through our guarantee of the principal and interest payments. The economic performance of our PC trusts is most significantly affected by the performance of the underlying loans. Our rights as administrator and guarantor provide us with the power to direct the activities that most significantly affect the performance of the underlying loans. We also have the obligation to absorb losses of our PC trusts that could potentially be significant through our guarantee of principal and interest payments. Accordingly, we concluded that we are the primary beneficiary of our PC trusts and, therefore, consolidate those trusts. Senior Subordinate Securitization Structures We are the primary beneficiary of and, therefore, consolidate certain of our single-family senior subordinate securitization structures because we have both the ability to direct the loss mitigation activities of the underlying loans and the obligation to absorb credit losses through our guarantee of the issued senior securities. As a result, we consolidated certain of the trusts used in these senior subordinate securitization structures with underlying assets totaling $26.1 billion and $3.6 billion , at December 31, 2018 and December 31, 2017 , respectively. We do not consolidate single-family senior subordinate securitization structures when we do not have the ability to direct the loss mitigation activities of the underlying loans, which is the most significant activity affecting the economic performance of the VIE. For those securitizations that we do not consolidate where we sell loans to the VIE, we derecognize the transferred loans and account for our guarantee to the non-consolidated VIE. We account for our investments in the beneficial interests issued by the non-consolidated VIE as investments in debt securities. During 2018 and 2017 , we issued approximately $8.4 billion and $6.8 billion , respectively, of guaranteed securities in these senior subordinate securitization structures for which a guarantee asset and guarantee obligation were generally recognized. Single-family Other Securitization Products We are the primary beneficiary of and, therefore, consolidate the trusts used to issue our single-family other securitization products when we have the ability to direct the activities that most significantly affect the economic performance of the trusts and we have the obligation to absorb credit losses through our guarantee of some or all of the issued securities. As a result, we consolidated trusts used to issue these products with underlying assets totaling $3.4 billion and $4.1 billion at December 31, 2018 and December 31, 2017 , respectively. We do not consolidate the trusts used to issue our single-family other securitization products that do not meet these conditions. We have not entered into single-family other securitization products in several years. K Certificates In a K Certificate transaction, we sell multifamily loans to a non-Freddie Mac securitization trust that issues senior, mezzanine, and subordinate securities, and simultaneously purchase and place the senior securities into a Freddie Mac securitization trust that issues guaranteed K Certificates. In these transactions, we guarantee the senior securities issued by the Freddie Mac securitization trust and do not issue or guarantee the mezzanine or subordinate securities issued by the non-Freddie Mac securitization trust. We receive a guarantee fee in exchange for our guarantee. We serve as guarantor of our K Certificate trusts and, from time to time, as master servicer. However, in contrast to single-family PC trusts, the rights to direct loss mitigation activities of the underlying loans and to purchase delinquent loans from the securitization trust are generally held by the investor in the most subordinate remaining securities issued by the non-Freddie Mac trust, and therefore we do not have any power to direct those activities unless we are the investor in the most subordinate remaining securities. The economic performance of our K Certificate trusts is most significantly affected by the performance of the underlying loans. Because our rights in a K Certificate transaction do not provide us with the power to direct the activities that most significantly affect the performance of the underlying loans and we do not hold the most subordinate remaining securities, we are not the primary beneficiary of our K Certificate trusts and, therefore, do not consolidate those trusts. Consolidated VIEs We consolidated the VIEs for which we are the primary beneficiary as discussed above. Our exposure on debt securities of consolidated trusts represents our liability to third parties that hold beneficial interests in our consolidated securitization trusts. When we consolidate a VIE, we recognize the assets and liabilities of the VIE on our consolidated balance sheets and account for those assets and liabilities based on the applicable GAAP for each specific type of asset or liability. Assets and liabilities that we transfer to a VIE at, after or shortly before the date we become the primary beneficiary of the VIE are initially measured at the same amounts that they would have been measured if they had not been transferred, and no gain or loss is recognized on these transfers. For all other VIEs that we consolidate, we recognize the assets and liabilities of the VIE at fair value, and we recognize a gain or loss for the difference between: n The sum of the fair value of the consideration paid, the fair value of any noncontrolling interests, and the reported amount of any previously held interests and n The net fair value of the assets and liabilities recognized. Guarantees to consolidated VIEs are eliminated in consolidation and are therefore not separately recognized on our consolidated balance sheets. We also obtain interests in various other VIEs created by third parties through the normal course of business, such as through our investments in certain non-Freddie Mac mortgage-related securities, purchases of multifamily loans, guarantees of multifamily housing revenue bonds, as a derivative counterparty or through other activities. To the extent that we were not involved in the design or 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. As a result, we do not consolidate these VIEs and we account for our interests in these VIEs in the same manner that we account for our interests in other third-party transactions. See Note 7 for additional information regarding our investments in non-Freddie Mac mortgage-related securities. See Note 4 for more information regarding multifamily loans.
Transfers and Servicing of Financial Assets, Policy	Purchases of Giant PCs as investments in our mortgage-related investments portfolio are accounted for as debt extinguishments of a pro-rata portion of the underlying single-family PCs because Giant PCs are considered substantially the same as the underlying single-family PCs. Similarly, sales of Giant PCs previously held as investments in our mortgage-related investments portfolio are accounted for as debt issuances of a pro-rata portion of the underlying single-family PCs. Loans held by our PC trusts are recognized on our consolidated balance sheets as mortgage loans held-for-investment. The corresponding PCs held by third parties are recognized on our consolidated balance sheets as debt, net. We extinguish the outstanding debt securities of the related consolidated trust and recognize gains or losses on debt extinguishment for the difference between the consideration paid and the debt carrying value when we purchase PCs as investments in our mortgage-related investments portfolio. Sales of PCs previously held as investments in our mortgage-related investments portfolio are accounted for as debt issuances. See Note 4 and Note 8 for additional information on loans and debt securities of consolidated trusts. When we sell loans to a K Certificate trust, we derecognize the transferred loans and account for our guarantee to the non-consolidated K Certificate trust. We account for our investments in the beneficial interests issued by non-consolidated K Certificate trusts as investments in debt securities. When we purchase a REMIC or Stripped Giant PC as an investment in our mortgage-related investments portfolio, we generally record the security as an investment in debt securities rather than extinguishment of debt since we are generally investing in the debt securities of a non-consolidated entity. We do not consolidate REMIC or Stripped Giant PC trusts in which we hold variable interests, as we are not deemed to be the primary beneficiary of the trusts, unless we have the unilateral ability to collapse the trust. Similarly, sales of REMICs or Stripped Giant PCs previously held as investments in our mortgage-related investments portfolio are accounted for as sales of investments in debt securities. See Note 7 for additional information on accounting for investments in debt securities. In a typical SB Certificate transaction, we sell loans to a SB Certificate trust, derecognize the transferred loans and account for our guarantee to the non-consolidated SB Certificate trust. We account for our investments in the beneficial interests issued by non-consolidated SB Certificate trusts as investments in debt securities.
Revenue from Contract with Customer	Because we have already guaranteed the underlying assets, we do not receive any incremental guarantee fees in exchange for our guarantee, and, accordingly, we do not recognize any additional guarantee assets, guarantee obligations or reserves for guarantee losses related to multiclass resecuritization trusts. Instead, we receive a one-time transaction fee which represents compensation for both the structuring and creation of the securities and for our ongoing administrative responsibilities to service the securities. We recognize the portion of the transaction fee related to creation of the securities immediately in earnings. We defer the portion of the fee related to ongoing administrative responsibilities and amortize it over the life of the associated trust.
Mortgage Loans	We own both single-family loans, which are secured by one to four unit residential properties, and multifamily loans, which are secured by properties with five or more residential rental units. Our single-family loans are predominantly first lien, fixed-rate loans secured by the borrower's primary residence. Upon acquisition, we classify a loan as either held-for-investment or held-for-sale. Loans that we have the ability and intent to hold for the foreseeable future are classified as held-for-investment. Loans that we intend to securitize using an entity we will consolidate are classified as held-for-investment both prior to and subsequent to their securitization. Otherwise, they will be classified as held-for-sale. Held-for-investment loans are reported on our consolidated balance sheets at their outstanding UPB, net of deferred fees and other cost basis adjustments (including unamortized premiums and discounts, upfront fees, and other pricing adjustments). Loans not classified as held-for-investment are classified as held-for-sale. Held-for-sale loans are reported at lower-of-cost-or-fair-value on our consolidated balance sheets, unless the fair value option is elected. Any excess of a held-for-sale loan's cost over its fair value is recognized as a valuation allowance in mortgage loans gains (losses) on our consolidated statements of comprehensive income, with changes in this valuation allowance also being recorded in mortgage loans gains (losses). Premiums, discounts, and other cost basis adjustments (including lower-of-cost-or-fair-value adjustments) on single-family loans classified as held-for-sale are deferred and not amortized. We elected the fair value option for certain multifamily loans that we intend to securitize and sell to investors. Therefore, these multifamily loans are measured at fair value on a recurring basis, with subsequent gains or losses related to changes in fair value reported in mortgage loans gains (losses) on our consolidated statements of comprehensive income. Cash flows related to loans originally classified as held-for-investment are classified as either investing activities (e.g., principal repayments) or operating activities (e.g., interest payments received from borrowers included within net income (loss)). Cash flows related to loans originally classified as held-for-sale are classified as operating activities. We have the option under our PC master trust agreement to remove loans that underlie our PCs under certain circumstances to resolve an existing or impending delinquency or default. Our practice generally has been to remove loans from PC trusts when the loans have been delinquent for 120 days or more. When we remove loans from PC trusts, we record an extinguishment of the corresponding portion of the debt securities of the consolidated trusts and we reclassify the loans from mortgage loans held-for-investment by consolidated trusts to mortgage loans held-for-investment by Freddie Mac.
Loans and Leases Receivable, Allowance for Loan Losses Policy	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 on our 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 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 (non-consolidated), other securitization products, and other mortgage-related guarantees. A significant number of unsecuritized single-family loans on our consolidated balance sheets include seriously delinquent and TDR loans that we previously removed from our PC pools. These seriously delinquent and TDR loans historically have a higher associated allowance for loan losses than loans that remain in consolidated trusts. Allowance for Loan Losses Determined on a Collective Basis Single-Family Loans We estimate allowance for loan losses on homogeneous pools of single-family loans using a model that evaluates a variety of factors affecting collectability. We review the outputs of this model by considering qualitative factors such as macroeconomic and other factors to see whether the model outputs are consistent with our expectations. Management adjustments may be necessary to take into consideration external factors and current economic events that have occurred but that are not yet reflected in the factors used to derive the model outputs. Significant judgment is exercised in making these adjustments. The homogeneous pools of single-family loans are determined based on common underlying characteristics, including current LTV ratios, trends in home prices, loan product type, and geographic region. We rely upon third-parties to service our loans. At loan delivery, the seller provides us with loan data, which includes characteristics and underwriting information. Each subsequent month, the servicers provide us with monthly loan level servicing data, including delinquency and loss information. Our single-family allowance for loan losses default models produce estimates based on 12 months of loan level performance data, which includes a history of delinquency, foreclosures, foreclosure alternatives, and modifications. Our allowance for loan losses estimate includes projections of: n Loss mitigation activities, including loan modifications for troubled borrowers and the incidence of redefault we have experienced on similar loans that have completed a loan modification and n Defaults we believe are likely to occur as a result of loss events that have occurred through the respective balance sheet date. These projections are based on our recent historical experience and current business practices and require significant management judgment. We validate and update our models and factors to capture changes in actual loss experience, as well as the effects of changes in underwriting practices and in our loss mitigation strategies. In determining our allowance for loan losses, we also consider macroeconomic and other factors that affect the quality of the loans underlying our portfolio, including regional housing trends, applicable home price indices, unemployment and employment dislocation trends, the effects of changes in government policies and programs, consumer credit statistics, and the extent of third-party insurance. Our single-family allowance for loan losses severity is based on the repeat housing sales index and actual REO dispositions, short sales, and third-party sales that incorporate the most recent: n Twelve months of sales experience realized on our distressed property dispositions and n Twelve months of pre-foreclosure expenses on our distressed properties, including REO, short sales, and third-party sales. Our single-family allowance for loan losses severity estimate also captures expectations about recoveries, such as primary mortgage insurance. We use historical trends in home prices in our single-family allowance for loan losses process, primarily through the use of current LTV ratios in our default models and through the use of recent home price sales experience in our severity estimate. However, we do not use a forecast of trends in home prices in our single-family allowance for loan losses process. For loans where foreclosure is probable, we measure impairment based upon an estimate of the fair value of the underlying collateral less estimated disposition costs. Our estimate also considers the effect of historical home price changes on borrower behavior. We apply proceeds from primary mortgage insurance and from other credit enhancements, including repurchase recoveries, entered into contemporaneously with, and in contemplation of, a guarantee or loan purchase transaction as a recovery of our recorded investment in a charged-off loan, up to the amount of loss recognized as a charge-off. Proceeds received in excess of our recorded investment in loans are recorded as a decrease to REO operations expense on our consolidated statements of comprehensive income. We record benefits related to freestanding credit enhancements based on actual losses (e.g., ACIS insurance policies) when realization of our claims is deemed probable and a loss has been recognized on the covered loans. We record benefits for our debt with embedded credit enhancements for which we have not elected the fair value option (e.g., certain STACR debt notes and certain senior subordinate securitization structures) when the realized loss event occurs. We generally record repurchase recoveries on a cash basis due to the uncertainty of the timing and amount of collections of such recoveries. Multifamily Loans Multifamily loans evaluated collectively for impairment are aggregated into book year vintage portfolios. Potential impairment related to these portfolios is measured by benchmarking published historical commercial loan performance data to those vintages based upon available economic data related to multifamily real estate, including apartment vacancy and rental rates.
Non-Accrual Loans	We recognize interest income on an accrual basis except when we believe the collection of principal and interest in full is not reasonably assured, which generally occurs when a loan is three monthly payments or more past due, unless the loan is well secured and in the process of collection based upon an individual loan assessment. A loan is considered past due if a full payment of principal and interest is not received within one month of its due date. Cost basis adjustments on held-for-investment loans are amortized into interest income over the contractual lives of the loans using the effective interest method. A non-accrual loan may be returned to accrual status when the collectability of principal and interest in full is reasonably assured. For single-family loans, we determine that collectability is reasonably assured when we have received payment of principal and interest such that the loan becomes less than three monthly payments past due. For multifamily loans, the collectability of principal and interest is considered reasonably assured based on an analysis of the factors specific to the loan being assessed. Upon a loan's return to accrual status, all previously reversed interest income is recognized and amortization of any basis adjustments into interest income is resumed.
Impaired Loans	Allowance for Loan Losses Determined on an Individual Basis We consider a loan to be impaired when, based on current information, it is probable that we will not receive all amounts due (including both principal and interest) in accordance with the contractual terms of the original loan agreement. Single-family loans individually evaluated for impairment include TDRs, as well as loans acquired under our financial guarantees with deteriorated credit quality prior to 2010. Multifamily loans individually evaluated for impairment include TDRs, loans three monthly payments or more past due, and loans that are impaired based on management judgment. Multifamily Loans Multifamily impaired loans include TDRs, loans three monthly payments or more past due, and loans that are deemed impaired based on management judgment. Factors considered by management in determining whether a loan is impaired include the underlying property's operating performance as represented by its current DSCR, available credit enhancements, current LTV ratio, management of the underlying property, and the property's geographic location. Multifamily loans are generally measured individually for impairment based on the fair value of the underlying collateral, as reduced by estimated disposition costs, as the repayment of these loans is generally provided from the cash flows of the underlying collateral and any associated credit enhancement. Except for cases of fraud and certain other types of borrower defaults, most multifamily loans are non-recourse to the borrower. As a result, the cash flows of the underlying property (including any associated credit enhancements) serve as the source of funds for repayment of the loan. Interest income recognition on multifamily impaired loans is subject to our non-accrual policy as discussed in Interest Income above.
Troubled Debt Restructurings	Troubled Debt Restructurings A modification to the contractual terms of a loan that results in granting a concession to a borrower experiencing financial difficulties is considered a TDR. A concession is deemed granted when, as a result of the restructuring, we do not expect to collect all amounts due, including interest accrued, at the original contractual interest rate. As appropriate, we also consider other qualitative factors in determining whether a concession is deemed granted, including whether the borrower's modified interest rate is consistent with that of a non-troubled borrower. We do not consider restructurings that result in an insignificant delay in payment to be a concession. We generally consider a delay in monthly amortizing payments of three months or less to be insignificant. A concession typically includes one or more of the following being granted to the borrower: n A trial period where the expected permanent modification will change our expectation of collecting all amounts due at the original contract rate; n A delay in payment that is more than insignificant; n A reduction in the contractual interest rate; n Interest forbearance for a period of time that is more than insignificant or forgiveness of accrued but uncollected interest amounts; n Principal forbearance that is more than insignificant; and n Discharge of the borrower's obligation in Chapter 7 bankruptcy. Single-Family Loans Impairment of a single-family loan having undergone a TDR is generally measured as the excess of our recorded investment in the loan over the present value of the expected future cash flows, discounted at the loan's effective interest rate for fixed-rate loans, or at the loan's effective interest rate prior to the restructuring for ARM loans. Our expectation of future cash flows incorporates, among other items, an estimated probability of default which is based on a number of market factors as well as the characteristics of the loan, such as past due status. Subsequent to the restructuring date, interest income is recognized at the modified interest rate, subject to our non-accrual policy as discussed in Interest Income above, with all other changes in the present value of expected future cash flows being recognized as a component of the provision for credit losses on our consolidated statements of comprehensive income. If we determine that foreclosure on the underlying collateral is probable, we measure impairment based upon the fair value of the collateral, as reduced by estimated disposition costs and adjusted for estimated proceeds from insurance and similar sources. The assessment as to whether a multifamily loan restructuring is considered a TDR contemplates the unique facts and circumstances of each loan. This assessment considers qualitative factors such as whether the borrower's modified interest rate is consistent with that of a non-troubled borrower having a similar credit profile at the time of modification. In certain cases, for maturing loans we may provide short-term loan extensions of up to one year with no changes to the effective borrowing rate. In other cases, we may make more significant modifications of terms for borrowers experiencing financial difficulty, such as reducing the interest rate, extending the maturity for longer than one year, providing principal forbearance, or some combination of these terms.
Loan reclassifications charge off policy change	. Loan Reclassifications On January 1, 2017, we elected a new accounting policy for loan reclassifications from held-for-investment to held-for-sale. Under the new policy, when we reclassify (transfer) a loan from held-for-investment to held-for-sale, we charge off the entire difference between the loan's recorded investment and its fair value if the loan has a history of credit-related issues. Expenses related to property taxes and insurance are included as part of the charge-off. If the charge-off amount exceeds the existing allowance for loan losses amount, an additional provision for credit losses is recorded. Any declines in loan fair value after the date of transfer will be recognized as a valuation allowance, with an offset recorded to mortgage loans gains (losses). This new policy election was applied prospectively, as it was not practical to apply it retrospectively. The new policy election did not affect our net income; however, it affected where the loan reclassifications from held-for-investment to held-for-sale were recorded on our consolidated statements of comprehensive income. Prior to the policy change, upon a loan reclassification from held-for-investment to held-for-sale, we reversed the related allowance for loan losses to the benefit (provision) for credit losses, recorded a valuation allowance for any difference between the loan's recorded investment and its fair value to other income (loss), and recorded property taxes and insurance expenses related to the transferred loans in other expense. Under the new policy, benefit (provision) for credit losses is the only line item affected when a transfer occurs.
Guarantees, Indemnifications and Warranties Policies	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. Guarantees to consolidated entities are eliminated in consolidation and therefore are not separately recognized on our consolidated balance sheets. The accounting treatment for guarantees provided to non-consolidated entities or other third parties will depend on whether the guarantee contract qualifies as a financial guarantee. If the guarantee contract qualifies as a financial guarantee and exposes us to incremental credit risk, we will recognize both a guarantee obligation at fair value and the consideration we receive for providing the guarantee, which typically consists of a guarantee asset that represents the fair value of future guarantee fees. As a practical expedient, the measurement of the fair value of the guarantee obligation is set equal to the consideration we receive to provide the guarantee, and no gain or loss is recognized upon issuance of the guarantee. Subsequently, we recognize changes in the fair value of the guarantee asset in current period earnings and amortize the guarantee obligation into earnings as we are released from risk under the guarantee. We also recognize a reserve for guarantee losses when it is probable that a loss has been incurred under the guarantee. If the guarantee contract provided to non-consolidated entities does not qualify as a financial guarantee, that contract will generally be accounted for as a derivative and measured at fair value on our consolidated financial statements.
Credit Enhancements	Mortgage Loan Credit Enhancements Attached mortgage loan credit enhancements are obtained contemporaneously with, and in contemplation of, the origination of the underlying mortgage loans, and effectively travel with the loan upon sale. Attached credit enhancements include primary mortgage insurance, which provides us with loan-level protection up to a specified percentage. Expected recoveries from attached credit enhancements are considered in determining the allowance for loan losses, resulting in a reduction in the recognized provision for credit losses by the amount of the expected credit enhancement recoveries. See Note 4 for additional information concerning the determination of our allowance for credit losses. Freestanding mortgage loan credit enhancements are contracts that are entered into separately from the origination of the mortgage loans or entered into in conjunction with some other transaction and are legally detachable and separately exercisable. Freestanding credit enhancements include ACIS and STACR Trust transactions, which are accounted for separately from the underlying mortgage loans. ACIS transactions are insurance policies we purchase, generally underwritten by a group of insurers and reinsurers, that provide credit protection for certain specified credit events that occur on a reference pool of single-family mortgage loans. Under the ACIS contracts, we pay insurers and reinsurers premiums for insurance coverage. Each month, we accrue for our obligation to make such payments for all tranches covered by the ACIS contracts. When specific credit events occur, we generally receive compensation from the insurance policy up to an aggregate limit based on actual losses. We require our counterparties to partially collateralize their exposure to reduce the risk that we will not be reimbursed for our claims under the policies. STACR Trust transactions are similar to STACR debt notes as discussed in Debt with Embedded Credit Enhancements below. The key difference between STACR Trust and STACR debt note transactions is that the notes in STACR Trust transactions are issued by a third-party bankruptcy-remote trust. Under this structure, we pay a credit premium and certain shortfalls on the investment collateral account to the trust and receive payments from the trust as a result of defined credit events on the reference pool. Each month, we accrue for our obligation to make such payments to the trust. The trust issues the notes and makes periodic payments of principal and interest on the notes to investors, and we receive payments from the trust that otherwise would have been made to the noteholders to the extent there are certain defined credit events on the mortgages in the related reference pool. The note balances are reduced by the amount of the payments to us. Expected recoveries for credit losses covered under ACIS contracts based on actual losses and STACR Trust transactions are recognized separately in other assets on our consolidated balance sheets, with an offset to other income when realization of our claim for recovery is deemed probable. We also have various other freestanding credit enhancements that provide credit protection on our single-family loans, where we recognize a separate credit enhancement asset in other assets on our consolidated balance sheets upon acquisition of coverage. If the coverage is acquired as part of a transaction in which we also acquire mortgage loans, the credit enhancement asset is recognized based on the relative fair values of the consideration paid for the mortgage loan and the credit enhancement. If the coverage is acquired as a standalone transaction, the credit enhancement asset is recognized at cost. The credit enhancement assets are amortized over the life of the contract. Expected recoveries for these other types of freestanding credit enhancements are recognized separately in other assets on our consolidated balance sheets, with an offset to other income when realization of our claim for recovery is deemed probable. Guarantee Credit Enhancements In connection with our securitization activity guarantees, we obtain credit enhancement through the creation of unguaranteed subordinated securities. In these transactions, the securities that are subordinate to our guarantee provide protection by absorbing first losses prior to us having to perform on our guarantee of the senior securities. We recognize a reserve for guarantee losses when it is probable that a loss has been incurred under our guarantee, which occurs only when losses exceed subordination. Our other guarantee credit enhancements are primarily freestanding contracts that are accounted for separately from the associated guarantee. For these types of credit enhancements, we recognize a separate credit enhancement asset in other assets on our consolidated balance sheets upon acquisition of coverage and subsequently amortize the asset over the life of the contract. Expected recoveries under these contracts are recognized separately in other assets on our consolidated balance sheets, with an offset to other income when realization of our claim for recovery is deemed probable. Unsecured Debt with Embedded Credit Enhancements For certain of our unsecured debt issuances, we create a reference pool of mortgage assets (generally loans) to which we currently have credit risk exposure and an associated securitization-like structure with notional credit risk positions. To the extent a specified credit event occurs on the mortgage assets in the reference pool, the outstanding balance of our debt obligations is written down, thereby reducing our future principal and interest payment obligations. The principal types of unsecured debt with embedded credit enhancements are single-family STACR debt notes and multifamily SCR notes. Most of our STACR debt notes are recorded as other debt on our consolidated balance sheets and accounted for at amortized cost. When the realized loss events (e.g., third-party foreclosure sale, short sale, or REO disposition) occur on the underlying loans in the reference pool, the STACR debt notes are written down and the benefits are recognized as debt gains on our consolidated statements of comprehensive income. The structure of multifamily SCR notes is similar to STACR debt notes, although the mortgage assets within the reference pool may be loans or multifamily housing revenue bonds to which we have credit exposure. While our SCR notes are recorded as other debt on our consolidated balance sheets, these debt obligations are measured at fair value, as we elected the fair value option for them. Fair value changes are recorded in debt gains (losses) on our consolidated statement of comprehensive income. Consolidated Debt with Structural Credit Enhancements Similar to our non-consolidated VIEs, we obtain credit enhancement in our KT Certificates and certain of our consolidated senior subordinate securitization structures and other securitization products through the creation of unguaranteed subordinated securities. These unguaranteed subordinated securities will absorb first losses on the underlying loans prior to us performing pursuant to our guarantee obligation. The unguaranteed subordinated debt securities held by third parties are recorded as debt of consolidated trusts on our consolidated balance sheets and accounted for at amortized cost. When losses are realized on the loans underlying the securities, the subordinated debt is written down and the benefits are recognized as debt gains on our consolidated statements of comprehensive income.
Investments in Securities	We currently classify and account for our securities as either available-for-sale or trading. As of December 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. Securities classified as available-for-sale and trading are reported at fair value with changes in fair value included in AOCI, net of income taxes and investment securities gains (losses), respectively. See Note 15 for more information on how we determine the fair value of securities. We generally record purchases and sales of securities on the trade date when the related forward commitments are exempt from the accounting guidance for derivatives. Alternatively, we record purchases and sales of securities on the expected settlement date, with a corresponding derivative recorded on the trade date, when the related forward commitments are not exempt from the accounting guidance for derivatives. We include interest on securities on our consolidated statements of comprehensive income. For most of our securities, interest income is recognized using the effective interest method, which considers the contractual terms of the security. Deferred items, including premiums, discounts, and other basis adjustments, are amortized into interest income over the contractual lives of the securities. For certain securities, interest income is recognized using the prospective effective interest method. We apply this method to securities that: n Can contractually be prepaid or otherwise settled in such a way that we may not recover substantially all of our recorded investment; n Are not of high credit quality at acquisition; or n Have been determined to be other-than-temporarily impaired. Under this method, we recognize as interest income, over the expected life of the securities, the excess of the cash flows expected to be collected over the securities' carrying value. We update our estimates of expected cash flows periodically and recognize changes in the calculated effective interest rate on a prospective basis. For securities classified as trading or available-for-sale, we classify the cash flows as investing activities because we hold these securities for investment purposes. In cases where the transfer of a security represents a secured borrowing, we classify the related cash flows as financing activities. Impairment Recognition on Investments in Securities We evaluate available-for-sale securities in an unrealized loss position as of the end of each quarter to determine whether the decline in value is other-than-temporary. An unrealized loss exists when the fair value of an individual lot is less than its amortized cost basis. As discussed further below, certain other-than-temporary impairment losses are recognized in earnings. Other-than-temporary impairment is considered to have occurred if the fair value of the security lot is less than its amortized cost basis and we either intend to sell the security or more likely than not will be required to sell the security lot prior to recovery of its amortized cost basis. Under these circumstances, the security's entire decline in fair value is deemed to be other-than-temporary and is recorded within our consolidated statements of comprehensive income as investment securities gains (losses). If we do not intend to sell the security or we believe it is not more likely than not that we will be required to sell prior to recovery of the security's amortized cost basis, we recognize only the credit component of other-than-temporary impairment in earnings and the amounts attributable to all other factors are recorded in AOCI. The credit component represents the amount by which the present value of cash flows expected to be collected from the security is less than its amortized cost basis. The present value of cash flows expected to be collected represents our estimate of future contractual cash flows that we expect to collect, discounted at the security's original effective interest rate or, if applicable, the effective interest rate determined based on significantly improved cash flows subsequent to a prior other-than-temporary impairment. The evaluation of whether unrealized losses on available-for-sale securities are other-than-temporary requires significant management judgments, assumptions, and consideration of numerous factors. We perform an evaluation on a security lot basis considering all available information. The relative importance of this information varies based on the facts and circumstances surrounding each security, as well as the economic environment at the time of assessment. Realized Gains and Losses on Sales of Available-for-Sale Securities Gains and losses on the sale of securities are included in investment securities gains (losses), including those gains (losses) reclassified into earnings from AOCI. We use the specific identification method for determining the cost basis of a security in computing the gain or loss.
Debt Securities Issued	With the exception of certain debt for which we elected the fair value option or designated in a qualifying fair value hedge relationship, our debt is reported at amortized cost. Deferred items, including premiums, discounts, issuance costs, and hedging-related basis adjustments, are reported as a component of total debt, net. These items are amortized and reported through interest expense using the effective interest method over the contractual life of the related indebtedness. Amortization of premiums, discounts, and issuance costs begins at the time of debt issuance. Amortization of hedging-related basis adjustments begins upon the discontinuation of the related hedge relationship. We elected the fair value option on debt that contains embedded derivatives, including certain STACR and SCR debt notes. For additional information on STACR and SCR debt notes, see Note 6 . Changes in the fair value of these debt obligations are recorded in debt gains (losses), with any upfront costs and fees incurred or received in exchange for the issuance of the debt being recognized in earnings as incurred and not deferred. Related interest expense continues to be reported as interest expense based on the stated terms of the debt securities. For additional information on our election of the fair value option, see Note 15 . When we repurchase or call outstanding debt securities, we recognize the difference between the amount paid to redeem the debt security and the carrying value in earnings as a component of debt gains (losses). Contemporaneous transfers of cash between us and a creditor in connection with the issuance of a new debt security and satisfaction of an existing debt security are accounted for as either an extinguishment or a modification of an existing debt security. If the debt securities have substantially different terms, the transaction is accounted for as an extinguishment of the existing debt security. The issuance of a new debt security is recorded at fair value, fees paid to the creditor are expensed as incurred, and fees paid to third parties are deferred and amortized into interest expense over the life of the new debt security using the effective interest method. If the terms of the existing debt security and the new debt security are not substantially different, the transaction is accounted for as a modification of the existing debt. Fees paid to the creditor are deferred and amortized into interest expense over the life of the modified debt security using the effective interest method and fees paid to third parties are expensed as incurred. We also engage in dollar roll transactions whereby we enter into an agreement to sell and subsequently repurchase (or purchase and subsequently resell) agency securities. When these transactions involve securities issued by consolidated entities, they are treated as issuances and extinguishments of debt.
Derivatives	Derivatives are reported at their fair value on our consolidated balance sheets. Derivatives in a net asset position, including net derivative interest receivable or payable, are reported as derivative assets, net. Similarly, derivatives in a net liability position, including net derivative interest receivable or payable, are reported as derivative liabilities, net. We offset fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against fair value amounts recognized for derivative instruments executed with the same counterparty under a master netting agreement. Changes in fair value and interest accruals on derivatives not in qualifying fair value hedge relationships are recorded as derivative gains (losses) on our consolidated statements of comprehensive income. Non-cash collateral held is not recognized on our consolidated balance sheets as we do not obtain effective control over the collateral, and non-cash collateral posted is not de-recognized from our consolidated balance sheets as we do not relinquish effective control over the collateral. Therefore, non-cash collateral held or posted is not presented as an offset against derivative assets or derivative liabilities on our consolidated balance sheets. We evaluate whether financial instruments that we purchase or issue contain embedded derivatives. We generally elect to measure newly acquired or issued financial instruments that contain embedded derivatives at fair value, with changes in fair value recorded in earnings. On the consolidated statements of cash flows, cash flows related to the acquisition and termination of derivatives, other than forward commitments, are generally classified in investing activities. Cash flows related to forward commitments are classified within the section of the consolidated statements of cash flows in accordance with the cash flows of the financial instruments to which they relate.
Derivatives, Methods of Accounting, Hedging Derivatives [Policy Text Block]	On October 1, 2017, we adopted accounting guidance that modifies the presentation of hedge accounting results disclosed on our consolidated statements of comprehensive income and in the notes to the consolidated financial statements. For qualifying fair value hedge relationships, the modifications include presenting all changes in the fair value of the derivative hedging instrument in the same consolidated statements of comprehensive income line used to present the earnings effect of the hedged item. For qualifying fair value hedge relationships, the modifications also include separate disclosures of cumulative basis adjustments and their impact to the hedged item's carrying value. Fair Value Hedges On February 2, 2017, we started applying fair value hedge accounting to certain single-family mortgage loans where we hedge the changes in fair value of these loans attributable to the designated benchmark interest rate (i.e., LIBOR), using LIBOR-based interest-rate swaps. The hedge period is one day, and we re-balance our hedge relationships on a daily basis. In addition, on November 30, 2017, we started applying fair value hedge accounting to certain issuances of debt where we hedge the changes in fair value of the debt attributable to the designated benchmark interest rate (i.e., LIBOR), using LIBOR-based interest-rate swaps. We apply hedge accounting to qualifying hedge relationships. A qualifying hedge relationship exists when changes in the fair value of a derivative hedging instrument are expected to be highly effective in offsetting changes in the fair value of the hedged item attributable to the risk being hedged during the term of the hedge relationship. No amounts have been excluded from the assessment of hedge effectiveness. To assess hedge effectiveness, we use a statistical regression analysis. At inception of the hedge relationship, we prepare formal contemporaneous documentation of our risk management objective and strategies for undertaking the hedge. 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 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). Changes in the fair value of the hedged item attributable to the risk being hedged are recognized as a cumulative basis adjustment against the mortgage loans and debt. The cumulative basis adjustments are amortized to the same consolidated statements of comprehensive income line item used to present the changes in fair value of the hedged item using the effective interest method considering the contractual terms of the hedged item, with amortization beginning no later than the period in which hedge accounting was discontinued. 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. If it becomes probable the originally forecasted transaction will not occur, the associated deferred gain or loss in AOCI would be reclassified to earnings immediately. Amounts reclassified from AOCI are recorded in interest expense.
Derivatives, Offsetting Fair Value Amounts, Policy	Offsetting of Financial Assets and Liabilities When we receive cash collateral, we recognize the amount received along with a corresponding obligation to return the collateral. When we post cash collateral, we derecognize the amount posted along with a corresponding asset for our right to receive the return of the collateral. We generally do not recognize or derecognize collateral received or pledged in the form of securities as the transferor in such arrangements does not relinquish effective control over the securities transferred.
Repurchase and Resale Agreements and Dollar Roll Transactions	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 our practice not to repledge assets held as collateral, 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. Beginning in 2017, we began to utilize the GSD/FICC as a clearinghouse to transact many of our trades involving securities purchased under agreements to resell, securities sold under agreements to repurchase, and other non-mortgage related securities. As a clearing member of GSD/FICC, we are required to post initial and variation margin payments and are exposed to the counterparty credit risk of GSD/FICC (including its clearing members). Although our membership provides us with the right to offset certain of our open receivable and payable positions by collateral type, we have elected not to offset these positions within our consolidated balance sheets. In the event a clearing member fails and causes losses to the GSD/FICC clearing system, we could be subject to the loss of the margin that we have posted to the GSD/FICC. Moreover, our exposure could exceed that amount, as members are generally required to cover losses caused by defaulting members on a pro rata basis. It is difficult to estimate our maximum exposure under these transactions, as this would require an assessment of transactions that we and other members of the GSD/FICC may execute in the future. 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.
Stockholders' Equity	Treasury, as the holder of the senior preferred stock, is entitled to receive quarterly cash dividends, when, as and if declared by our Board of Directors. The dividends we have paid to Treasury on the senior preferred stock have been declared by, and paid at the direction of, the Conservator, acting as successor to the rights, titles, powers, and privileges of the Board. The dividend is presented in the period in which it is determinable for the senior preferred stock, as a reduction to net income (loss) available to common stockholders and net income (loss) per common share. The dividend is declared and paid in the following period and recorded as a reduction to equity in the period declared. Total dividends paid in cash during 2018 , 2017, and 2016 at the direction of the Conservator were $4.1 billion , $10.9 billion , and $5.0 billion , respectively. See Note 2 for a discussion of our net worth sweep dividend. 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 $75 million , net of taxes, of the $ 0.3 billion of cash flow hedge losses in AOCI at December 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 15 years. We account for the warrant in permanent equity. At issuance on September 7, 2008, we recognized the warrant at fair value, and we do not recognize subsequent changes in fair value while the warrant remains classified in equity. We recorded an aggregate fair value of $2.3 billion for the warrant as a component of additional paid-in-capital. We derived the fair value of the warrant using a modified Black-Scholes model. If the warrant is exercised, the stated value of the common stock issued will be reclassified to common stock on our consolidated balance sheets. The warrant was determined to be in-substance non-voting common stock, because the warrant's exercise price of $0.00001 per share is considered non-substantive (compared to the market price of our common stock). As a result, the shares associated with the warrant are included in the computation of basic and diluted earnings (loss) per share. The weighted average shares of common stock outstanding for the years ended December 31, 2018 , 2017, and 2016 included shares of common stock that would be issuable upon full exercise of the warrant issued to Treasury.
Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy	We have the option to redeem our preferred stock on specified dates, at their redemption price plus dividends accrued through the redemption date. However, without the consent of Treasury, we are restricted from making payments to purchase or redeem preferred stock as well as paying any preferred dividends, other than dividends on the senior preferred stock. All 24 classes of preferred stock are perpetual and non-cumulative, and carry no significant voting rights or rights to purchase additional Freddie Mac stock or securities. Costs incurred in connection with the issuance of preferred stock are charged to additional paid-in capital.
Earnings Per Common Share	We have participating securities related to RSUs with dividend equivalent rights that receive dividends as declared on an equal basis with common shares but are not obligated to participate in undistributed net losses. These participating securities consist of vested RSUs 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 weighted-average of RSUs. During periods in which a net loss attributable to common stockholders has been incurred, potential common equivalent shares outstanding are not included in the calculation because it would have an antidilutive effect.
Segment Reporting	We have three reportable segments, which are based on the type of business activities each performs - Single-family Guarantee, Multifamily, and Capital Markets. The chart below provides a summary of our three reportable segments and the All Other category. Segment/Category Description Financial Performance Measurement Basis Single-family Guarantee The Single-family Guarantee segment reflects results from our purchase of single-family loans, our guarantee of principal and interest payments on securitized mortgage loans in exchange for guarantee fees, and the management of single-family mortgage credit risk. The Single-family Guarantee segment manages single-family mortgage credit risk through risk transfer transactions, performing loss mitigation activities, and managing foreclosure and REO activities. Segment Earnings for this segment consist primarily of guarantee fee income, less credit-related expenses, credit risk transfer expenses, administrative expenses, allocated funding and hedging costs, and allocated reinvestment income. • Contribution to GAAP net income (loss) 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 risk transfer securitization products, issue other risk transfer products, and provide other guarantee activities. 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. • Contribution to GAAP comprehensive income (loss) 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 for the company. Segment Earnings for this segment consist primarily of the returns on these investments, less the related funding, hedging, and administrative expenses. • Contribution to GAAP comprehensive income (loss) All Other The All Other category consists of material corporate-level activities that are infrequent in nature and based on decisions outside the control of the management of our reportable segments. N/A
Fair Value Measurements	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.
Income Taxes	Income Tax Expense Total income tax expense includes: n Current income tax expense, which represents the amount of federal tax currently payable to or receivable from the Internal Revenue Service, including interest and penalties and amounts accrued for unrecognized tax benefits, if any, and n Deferred income tax expense, which represents the net change in the deferred tax asset or liability balance during the year, including any change in the valuation allowance. Income tax expense excludes the tax effects related to adjustments recorded to other comprehensive income, such as unrealized gains and losses on available-for-sale securities. Deferred Tax Assets, Net We use the asset and liability method of accounting for income taxes for financial reporting purposes. Under this method, deferred tax assets and liabilities are recognized based upon the expected future tax consequences of existing temporary differences between the financial reporting and the tax reporting basis of assets and liabilities using enacted statutory tax rates as well as tax net operating loss and tax credit carryforwards, if any. To the extent tax laws change, deferred tax assets and liabilities are adjusted in the period that the tax change is enacted. The realization of our net deferred tax assets is dependent upon the generation of sufficient taxable income. We recognize a tax position taken or expected to be taken (and any associated interest and penalties) if it is more likely than not that it will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. We measure the tax position at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement.

Securitization Activities and_2

Securitization Activities and Consolidation (Tables)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [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 consolidated balance sheets. Table 3.1 - Consolidated VIEs (In millions) As of December 31, 2018 As of December 31, 2017 Consolidated Balance Sheet Line Item Assets: Cash and cash equivalents (includes $566 and $518 of restricted cash and cash equivalent) $567 $518 Securities purchased under agreements to resell 12,125 16,750 Mortgage loans held-for-investment 1,842,850 1,774,286 Accrued interest receivable 5,914 5,747 Other assets 1,631 2,738 Total assets of consolidated VIEs $1,863,087 $1,800,039 Liabilities: Accrued interest payable $5,335 $5,028 Debt, net 1,792,677 1,720,996 Other liabilities — 2 Total liabilities of consolidated VIEs $1,798,012 $1,726,026 The following table presents the carrying amounts and classification of the assets and liabilities recorded on our consolidated balance sheets related to 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. Table 3.2 - Non-Consolidated VIEs (In millions) As of December 31, 2018 As of December 31, 2017 Assets and Liabilities Recorded on our Consolidated Balance Sheets (1) Assets: Investments in securities, at fair value $44,020 $51,494 Accrued interest receivable 235 233 Derivative assets, net 1 7 Other assets 3,119 2,591 Liabilities: Derivative liabilities, net 88 — Other liabilities 3,049 2,489 Maximum Exposure to Loss (2)(3) $241,055 $200,196 Total Assets of Non-Consolidated VIEs (3) $284,724 $232,762 (1) Includes our variable interests in REMICs and Stripped Giant PCs, K Certificates, SB Certificates, certain senior subordinate securitization structures, other securitization products, and other risk transfer securitizations 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 consolidated balance sheets. In addition, our maximum exposure to loss excludes certain securitization activity and other mortgage-related guarantees measured at fair value 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 _2

Mortgage Loans and Loan Loss Reserves (Tables)	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Table - Mortgage Loans	The table below provides details of the loans on our consolidated balance sheets as of December 31, 2018 and December 31, 2017 . Table 4.1 - Mortgage Loans December 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 $20,946 $— $20,946 $17,039 $— $17,039 Multifamily 23,959 — 23,959 20,537 — 20,537 Total UPB 44,905 — 44,905 37,576 — 37,576 Cost basis and fair value adjustments, net (3,283 ) — (3,283 ) (2,813 ) — (2,813 ) Total held-for-sale loans, net 41,622 — 41,622 34,763 — 34,763 Held-for-investment: Single-family 35,885 1,814,008 1,849,893 51,893 1,742,736 1,794,629 Multifamily 10,828 4,220 15,048 17,702 3,747 21,449 Total UPB 46,713 1,818,228 1,864,941 69,595 1,746,483 1,816,078 Cost basis adjustments (1,198 ) 27,752 26,554 (2,148 ) 31,490 29,342 Allowance for loan losses (3,009 ) (3,130 ) (6,139 ) (5,279 ) (3,687 ) (8,966 ) Total held-for-investment loans, net 42,506 1,842,850 1,885,356 62,168 1,774,286 1,836,454 Total loans, net $84,128 $1,842,850 $1,926,978 $96,931 $1,774,286 $1,871,217 The table below provides details of the UPB of loans we purchased, reclassified from held-for-investment to held-for-sale, and sold. Table 4.2 - Loans Purchased, Reclassified from Held-for-Investment to Held-for-Sale, and Sold (In billions) 2018 2017 Single-family: Purchases Held-for-investment loans $307.7 $343.0 Reclassified from held-for-investment to held-for-sale (1) 21.7 26.2 Sale of held-for-sale loans (2) 10.2 8.7 Multifamily: Purchases Held-for-investment loans 5.0 5.3 Held-for-sale loans 70.3 64.6 Reclassified from held-for-investment to held-for-sale (1) 1.8 1.6 Sale of held-for-sale loans (3) 68.1 61.9 (1) We reclassify loans from held-for-investment to held-for-sale when we no longer have the intent or ability to hold for the foreseeable future. For additional information regarding the fair value of our loans classified as held-for-sale, see Note 15. (2) Our sales of single-family loans reflect the sale of seasoned single-family loans. The sale of seasoned single-family mortgage loans is part of our strategy to mitigate and reduce our holdings of less liquid assets. (3) Our sales of multifamily loans occur primarily through the issuance of multifamily K Certificates and SB Certificates. See Note 3 for more information on our K Certificates and SB Certificates.
Table - Recorded Investment of Held-For-Invstment Mortgage Loans, by LTV Ratio and Credit Classification	The table below presents the recorded investment of single-family held-for-investment loans by current LTV ratios. Our current LTV ratios are estimates based on available data through the end of each respective period presented. Table 4.3 - Recorded Investment of Single-Family Held-for-Investment Loans by Current LTV Ratios As of December 31, 2018 As of 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 $1,336,310 $214,703 $6,654 $1,557,667 $1,240,224 $214,177 $13,303 $1,467,704 15-year amortizing fixed-rate 251,152 4,522 157 255,831 270,266 7,351 381 277,998 Adjustable-rate 42,117 1,883 7 44,007 48,596 2,963 28 51,587 Alt-A, interest-only, and option ARM 16,498 1,903 559 18,960 21,013 4,256 1,429 26,698 Total single-family loans $1,646,077 $223,011 $7,377 $1,876,465 $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 7.24% and 8.43% as of December 31, 2018 and December 31, 2017 , respectively. 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 provisions. 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. Table 4.4 - Recorded Investment of Multifamily Held-for-Investment Loans by Credit Quality Indicator (In millions) As of December 31, 2018 As of December 31, 2017 Credit risk profile by internally assigned grade: (1) Pass $14,648 $20,963 Special mention 201 301 Substandard 181 169 Doubtful — — Totals $15,030 $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 following tables present the recorded investment of our single-family and multifamily loans, held-for-investment, by payment status. Table 4.5 - Recorded Investment of Held-for-Investment Loans by Payment Status As of December 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 $1,532,499 $14,683 $3,602 $6,883 $1,557,667 $6,881 15-year amortizing fixed-rate 254,376 1,021 171 263 255,831 263 Adjustable-rate 43,549 287 58 113 44,007 113 Alt-A, interest-only, and option ARM 16,975 793 327 865 18,960 864 Total single-family 1,847,399 16,784 4,158 8,124 1,876,465 8,121 Total multifamily 15,030 — — — 15,030 17 Total single-family and multifamily $1,862,429 $16,784 $4,158 $8,124 $1,891,495 $8,138 As of 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 $2.9 billion and $4.1 billion of loans that were in the process of foreclosure as of December 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. Table 4.6 - Delinquency Rates (Dollars in millions) December 31, 2018 December 31, 2017 Single-family: Non-credit-enhanced portfolio: Serious delinquency rate 0.83 % 1.16 % Total number of seriously delinquent loans 51,197 81,668 Credit-enhanced portfolio: (1) Primary mortgage insurance: Serious delinquency rate 0.86 % 1.43 % Total number of seriously delinquent loans 15,287 23,275 Other credit protection: (2) Serious delinquency rate 0.31 % 0.53 % Total number of seriously delinquent loans 12,920 16,259 Total Single-family Serious delinquency rate 0.69 % 1.08 % Total number of seriously delinquent loans 75,649 116,662 Multifamily (3) Non-credit-enhanced portfolio: Delinquency rate — % 0.06 % UPB of delinquent loans $2 $24 Credit-enhanced portfolio: Delinquency rate 0.01 % 0.01 % UPB of delinquent loans $28 $16 Total Multifamily Delinquency rate 0.01 % 0.02 % UPB of delinquent loans $30 $40 (1) The credit-enhanced categories are not mutually exclusive, as a single loan may be covered by both primary mortgage insurance and other credit protection. (2) 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. (3) Multifamily delinquency performance is based on the UPB of loans that are two monthly payments or more past due or those in the process of foreclosure.
Table - Detail of Loan Loss Reserves	The table below summarizes changes in our allowance for credit losses. Table 4.7 - Details of Allowance for Credit Losses Year Ended December 31, 2018 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 $10,443 $2,968 $52 $13,463 Provision (benefit) for credit losses (861 ) 145 4 (712 ) (1,447 ) 1,350 — (97 ) Charge-offs (2,823 ) (56 ) (6 ) (2,885 ) (4,939 ) (108 ) (4 ) (5,051 ) Recoveries 467 8 — 475 419 6 — 425 Transfers, net (1) 676 (676 ) — — 540 (540 ) — — Other (2) 293 26 — 319 235 4 — 239 Ending balance $3,003 $3,127 $46 $6,176 $5,251 $3,680 $48 $8,979 Multifamily: Beginning balance $28 $7 $9 $44 $18 $2 $15 $35 Provision (benefit) for credit losses (23 ) — (1 ) (24 ) 15 4 (6 ) 13 Charge-offs (6 ) — (2 ) (8 ) (4 ) — — (4 ) Recoveries 3 — — 3 — — — — Transfers, net (1) 4 (4 ) — — (1 ) 1 — — Other (2) — — — — — — — — Ending balance $6 $3 $6 $15 $28 $7 $9 $44 Total: Beginning balance $5,279 $3,687 $57 $9,023 $10,461 $2,970 $67 $13,498 Provision (benefit) for credit losses (884 ) 145 3 (736 ) (1,432 ) 1,354 (6 ) (84 ) Charge-offs (2,829 ) (56 ) (8 ) (2,893 ) (4,943 ) (108 ) (4 ) (5,055 ) Recoveries 470 8 — 478 419 6 — 425 Transfers, net (1) 680 (680 ) — — 539 (539 ) — — Other (2) 293 26 — 319 235 4 — 239 Ending balance $3,009 $3,130 $52 $6,191 $5,279 $3,687 $57 $9,023 (1) Relates to removal of delinquent loans from consolidated trusts and resecuritization after such removal . (2) Primarily includes capitalization of past due interest on modified loans
Table - TDR Activity, by Segment	The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs during the years ended December 31, 2018 and December 31, 2017 , 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. Table 4.8 - TDR Activity Year Ended December 31, 2018 2017 (Dollars in millions) Number of Loans Post-TDR Recorded Investment Number of Loans Post-TDR Recorded Investment Single-family: (1) 20 and 30-year or more, amortizing fixed-rate 43,742 $7,084 33,745 $4,818 15-year amortizing fixed-rate 5,944 584 4,569 356 Adjustable-rate 902 140 892 128 Alt-A, interest-only, and option ARM 2,602 432 2,784 495 Total single-family 53,190 8,240 41,990 5,797 Multifamily 1 $15 1 $— (1) The pre-TDR recorded investment for single-family loans initially classified as TDR during the years ended December 31, 2018 and December 31, 2017 was $8.3 billion and $5.8 billion , respectively.
Table - Payment Defaults of Completed TDR Modifications, by Segment	The table below presents the volume of our TDR modifications that experienced payment defaults (i.e., loans that became two months delinquent or completed a loss event) during the applicable periods and had completed a modification during the year preceding the payment default. The table presents loans based on their original product category before modification. Table 4.9 - Payment Defaults of Completed TDR Modifications Year Ended December 31, 2018 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 13,548 $1,847 13,973 $2,231 15-year amortizing fixed-rate 565 44 720 57 Adjustable-rate 176 25 225 33 Alt-A, interest-only, and option ARM 1,178 199 1,254 253 Total single-family 15,467 2,115 16,172 2,574 Multifamily — $— — $—
Table - Individually Impaired Loans	The tables below present the UPB, recorded investment, the related allowance for loan losses, average recorded investment, and interest income recognized for individually impaired loans. Table 4.10 - Individually Impaired Loans Balance at December 31, 2018 Balance at December 31, 2017 (In millions) UPB Recorded Investment Associated Allowance UPB Recorded Investment Associated Allowance Single-family: With no allowance recorded: (1) 20 and 30-year or more, amortizing fixed-rate $3,335 $2,666 N/A $3,768 $2,908 N/A 15-year amortizing fixed-rate 23 22 N/A 24 21 N/A Adjustable-rate 227 226 N/A 259 256 N/A Alt-A, interest-only, and option ARM 1,286 1,083 N/A 1,558 1,297 N/A Total with no allowance recorded 4,871 3,997 N/A 5,609 4,482 N/A With an allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 37,579 36,959 (3,660 ) 47,897 46,783 (5,505 ) 15-year amortizing fixed-rate 703 713 (19 ) 752 757 (24 ) Adjustable-rate 164 162 (8 ) 232 228 (14 ) Alt-A, interest-only, and option ARM 4,867 4,590 (682 ) 7,407 6,987 (1,087 ) Total with an allowance recorded 43,313 42,424 (4,369 ) 56,288 54,755 (6,630 ) Combined single-family: 20 and 30-year or more, amortizing fixed-rate 40,914 39,625 (3,660 ) 51,665 49,691 (5,505 ) 15-year amortizing fixed-rate 726 735 (19 ) 776 778 (24 ) Adjustable-rate 391 388 (8 ) 491 484 (14 ) Alt-A, interest-only, and option ARM 6,153 5,673 (682 ) 8,965 8,284 (1,087 ) Total single-family 48,184 46,421 (4,369 ) 61,897 59,237 (6,630 ) Multifamily : With no allowance recorded: (1) 89 82 N/A 106 97 N/A With an allowance recorded 3 3 — 35 35 (7 ) Total multifamily 92 85 — 141 132 (7 ) Total single-family and multifamily $48,276 $46,506 ($4,369 ) $62,038 $59,369 ($6,637 ) Referenced footnotes are included after the next table. Year Ended December 31, 2018 2017 (In millions) Average Recorded Investment Interest Income Recognized 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 $3,236 $346 $16 $3,556 $399 $16 15-year amortizing fixed-rate 21 3 — 25 1 — Adjustable rate 248 12 1 292 11 — Alt-A, interest-only, and option ARM 1,264 88 4 1,471 110 5 Total with no allowance recorded 4,769 449 21 5,344 521 21 With an allowance recorded: (2) 20 and 30-year or more, amortizing fixed-rate 44,055 2,156 274 44,057 2,513 248 15-year amortizing fixed-rate 798 28 9 599 32 6 Adjustable rate 197 6 3 261 9 3 Alt-A, interest-only, and option ARM 5,953 273 30 7,366 378 33 Total with an allowance recorded 51,003 2,463 316 52,283 2,932 290 Combined single-family: 20 and 30-year or more, amortizing fixed-rate 47,291 2,502 290 47,613 2,912 264 15-year amortizing fixed-rate 819 31 9 624 33 6 Adjustable rate 445 18 4 553 20 3 Alt-A, interest-only, and option ARM 7,217 361 34 8,837 488 38 Total single-family 55,772 2,912 337 57,627 3,453 311 Multifamily: With no allowance recorded: (1) 131 6 2 286 9 3 With an allowance recorded 3 — — 45 1 1 Total multifamily 134 6 2 331 10 4 Total single-family and multifamily $55,906 $2,918 $339 $57,958 $3,463 $315 (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 - 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. Table 4.11 - Net Investment in Loans December 31, 2018 December 31, 2017 (In millions) Single-family Multifamily Total Single-family Multifamily Total Recorded investment: Collectively evaluated $1,830,044 $14,945 $1,844,989 $1,764,750 $21,301 $1,786,051 Individually evaluated 46,421 85 46,506 59,237 132 59,369 Total recorded investment 1,876,465 15,030 1,891,495 1,823,987 21,433 1,845,420 Ending balance of the allowance for loan losses: Collectively evaluated (1,761 ) (9 ) (1,770 ) (2,301 ) (28 ) (2,329 ) Individually evaluated (4,369 ) — (4,369 ) (6,630 ) (7 ) (6,637 ) Total ending balance of the allowance (6,130 ) (9 ) (6,139 ) (8,931 ) (35 ) (8,966 ) Net investment in loans $1,870,335 $15,021 $1,885,356 $1,815,056 $21,398 $1,836,454

Guaranee Activities (Tables)

Guaranee Activities (Tables)	12 Months Ended
	Dec. 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. See Note 6 for additional information on our credit enhancement arrangements. Table 5.1 - Financial Guarantees As of December 31, 2018 As of December 31, 2017 ( Dollars in millions , terms in years) Maximum (1) Recognized (2) Maximum Maximum (1) Recognized (2) Maximum Single-family: Securitization activity guarantees $17,783 $220 40 $10,817 $120 40 Other mortgage-related guarantees 6,139 167 30 6,264 190 31 Total single-family $23,922 $387 $17,081 $310 Multifamily: Securitization activity guarantees $221,245 $2,746 40 $188,768 $2,305 40 Other mortgage-related guarantees 9,779 428 35 9,888 466 36 Total multifamily $231,024 $3,174 $198,656 $2,771 Other guarantees measured at fair value $16,251 $242 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 consolidated balance sheets. This amount excludes our reserve for guarantee losses, which totaled $52 million and $57 million as of December 31, 2018 and December 31, 2017 , respectively, and is included within other liabilities on our 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)	12 Months Ended
	Dec. 31, 2018
Credit Enhancements [Abstract]
Mortgage Loan Credit Enhancements	The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to our mortgage loan credit enhancements. For information about counterparty credit risk associated with mortgage insurers, see Note 14 . Table 6.1 - Mortgage Loan Credit Enhancements December 31, 2018 December 31, 2017 (In millions) Total Current and Protected UPB (1) Maximum Coverage Total Current and Protected UPB (1) Maximum Coverage Single-family: Primary mortgage insurance $378,594 $96,996 $334,189 $85,429 ACIS transactions (2) 807,885 9,123 625,082 6,933 STACR Trust transactions 161,152 5,026 — — Other 18,136 5,389 7,233 4,892 Total mortgage loan credit enhancements $116,534 $97,254 (1) Underlying loans may be covered by more than one form of credit enhancement. (2) As of December 31, 2018 and December 31, 2017, our counterparties posted collateral on our ACIS transactions of $1.5 billion and $1.1 billion , respectively.
Guarantee Credit Enhancements	Table 6.2 - Guarantee Credit Enhancements December 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) $16,271 $2,933 $8,953 $1,734 Other 1,226 1,226 1,390 1,390 Total single-family 4,159 3,124 Multifamily: Subordination (non-consolidated VIEs) 220,733 35,661 187,299 30,689 Other 2,349 815 1,833 726 Total multifamily 36,476 31,415 Total guarantee credit enhancements $40,635 $34,539 (1) Underlying loans may be covered by more than one form of credit enhancement. 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 credit enhancements, maximum coverage represents the remaining amount of loss recovery that is available subject to the terms of counterparty agreements.
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. Table 6.3 - Debt with Embedded Credit Enhancements December 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 $605,263 $17,596 $604,356 $17,788 Subordination (consolidated VIEs) 25,006 1,036 3,330 179 Total single-family 18,632 17,967 Multifamily: SCR notes 2,667 133 2,732 137 Subordination (consolidated VIEs) 2,700 280 1,800 180 Total multifamily 413 317 Total debt with embedded credit enhancements $19,045 $18,284 (1) Underlying loans may be covered by more than one form of credit enhancement. For STACR debt notes and SCR 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 notes, maximum coverage amount represents the outstanding balance of the STACR debt notes and SCR 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)	12 Months Ended
	Dec. 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. Table 7.1 - Investments in Securities (In millions) As of December 31, 2018 As of December 31, 2017 Trading securities $35,548 $40,721 Available-for-sale securities 33,563 43,597 Total $69,111 $84,318
Table - Trading Securities	The table below presents the estimated fair values by major security type for our securities classified as trading. Our non-mortgage-related securities primarily consist of investments in U.S. Treasury securities. Table 7.2 - Trading Securities (In millions) As of December 31, 2018 As of December 31, 2017 Mortgage-related securities: Freddie Mac $13,821 $14,300 Other agency 2,551 3,574 Non-agency RMBS 1 1 Non-agency CMBS — 27 Total mortgage-related securities 16,373 17,902 Non-mortgage-related securities 19,175 22,819 Total fair value of trading securities $35,548 $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. Table 7.3 - Available-for-Sale Securities As of December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $30,407 $320 $— ($528 ) $30,199 Other agency 1,675 38 — (7 ) 1,706 Non-agency RMBS 1,124 280 — (1 ) 1,403 Non-agency CMBS 18 — — — 18 Obligations of states and political subdivisions 236 2 — (1 ) 237 Total available-for-sale securities $33,460 $640 $— ($537 ) $33,563 As of December 31, 2017 Amortized Cost Gross Gross Unrealized Losses Fair Value (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $37,109 $521 $— ($464 ) $37,166 Other agency 2,008 56 — (11 ) 2,053 Non-agency RMBS 3,012 927 (5 ) (1 ) 3,933 Non-agency CMBS 97 — (9 ) — 88 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 a gross unrealized loss position for less than 12 months, or 12 months or greater. Table 7.4 - Available-for-Sale Securities in a Gross Unrealized Loss Position As of December 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 $4,259 ($38 ) $14,751 ($490 ) Other agency 351 (1 ) 638 (6 ) Non-agency RMBS — — 5 (1 ) Non-agency CMBS — — — — Obligations of states and political subdivisions 43 (1 ) 1 — Total available-for-sale securities in a gross unrealized loss position $4,653 ($40 ) $15,395 ($497 ) As of 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 $11,329 ($109 ) $9,251 ($355 ) Other agency 40 — 1,079 (11 ) Non-agency RMBS 5 — 105 (6 ) Non-agency CMBS 34 — 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 December 31, 2018 , total gross unrealized losses on available-for-sale securities were $0.5 billion . The gross unrealized losses relate to 350 separate securities. We purchase multiple lots of individual securities at different times and at different costs. We determine gross unrealized gains and gross unrealized losses by specifically evaluating investment positions at the lot level; therefore, some of the lots we hold for an individual security may be in a gross unrealized gain position, while other lots for that security may be in a gross unrealized loss position.
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. Table 7.5 - Gross Realized Gains and Gross Realized Losses from Sales of Available-for-Sale Securities Year Ended December 31, (In millions) 2018 2017 2016 Gross realized gains $627 $1,792 $1,062 Gross realized losses (303 ) (66 ) (91 ) Net realized gains $324 $1,726 $971

Debt Securities and Subordina_2

Debt Securities and Subordinated Borrowings (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Table - Total Debt, Net	The table below summarizes the interest expense per our consolidated statements of comprehensive income and the balances of total debt, net per our consolidated balance sheets. Table 8.1 - Total Debt, Net Balance, Net Interest Expense As of December 31, For The Year Ended December 31, (In millions) 2018 2017 2018 2017 2016 Debt securities of consolidated trusts held by third parties $1,792,677 $1,720,996 $51,529 $47,656 $44,599 Other debt: Short-term debt 51,080 73,069 1,193 615 350 Long-term debt 201,193 240,565 5,311 5,372 5,837 Total other debt 252,273 313,634 6,504 5,987 6,187 Total debt, net $2,044,950 $2,034,630 $58,033 $53,643 $50,786
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. Table 8.2 - Debt Securities of Consolidated Trusts Held by Third Parties As of December 31, 2018 As of 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 2019-2057 $1,389,113 $1,426,060 3.72 % 2018 - 2055 $1,278,911 $1,318,350 3.68 % 20-year fixed-rate 2019-2039 70,547 72,354 3.43 % 2018 - 2038 73,866 76,022 3.43 % 15-year fixed-rate 2019-2034 240,310 244,587 2.89 % 2018 - 2033 260,633 266,241 2.86 % Adjustable-rate 2019-2049 38,361 39,153 3.12 % 2018 - 2048 47,169 48,220 2.85 % Interest-only 2026-2048 5,322 5,386 4.41 % 2026 - 2041 7,303 7,379 3.74 % FHA/VA 2019-2046 720 736 4.78 % 2018 - 2046 847 866 4.85 % Total Single-family 1,744,373 1,788,276 1,668,729 1,717,078 Multifamily 2019-2047 4,365 4,401 4.02 % 2019 - 2047 3,876 3,918 3.99 % Total debt securities of consolidated trusts held by third parties $1,748,738 $1,792,677 $1,672,605 $1,720,996 (1) Includes $755 million and $639 million at December 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 rate for debt securities of consolidated trusts held by third parties was 3.07% and 2.84% as of December 31, 2018 and December 31, 2017, respectively.
Table - Other Short-term Debt	The table below summarizes the balances and effective interest rates for other short-term debt. Table 8.3 - Other Short-Term Debt As of December 31, 2018 As of December 31, 2017 (Dollars in millions) Par Value Carrying Amount Weighted Average Effective Rate Par Value Carrying Amount Weighted Average Effective Rate Other short-term debt: Discount notes and Reference Bills $28,787 $28,621 2.36 % $45,717 $45,596 1.19 % Medium-term notes 16,440 16,440 2.10 17,792 17,792 1.03 Securities sold under agreements to repurchase 6,019 6,019 2.40 9,681 9,681 1.06 Total other short-term debt $51,246 $51,080 2.28 % $73,190 $73,069 1.14 %
Table - Other Long-term Debt	The table below summarizes our other long-term debt. Table 8.4 - Other Long-Term Debt As of December 31, 2018 As of December 31, 2017 (Dollars in millions) Contractual Maturity Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Par Value Carrying Amount Weighted Average Effective Rate (2) Other long-term debt: Other senior debt: Fixed-rate: Medium-term notes — callable 2019-2037 $78,810 $78,786 2.01 % $86,311 $86,284 1.47 % Medium-term notes — non-callable 2019-2028 4,761 4,811 1.83 % 10,839 10,973 1.40 % Reference Notes securities — non-callable 2019-2032 65,362 65,385 2.39 % 79,991 80,019 2.17 % STACR and SCR 2031-2042 133 136 12.76 % 137 140 12.77 % Variable-rate: Medium-term notes — callable 2019-2033 26,396 26,364 2.33 % 27,510 27,475 1.95 % Medium-term notes — non-callable 2019-2026 5,325 5,325 1.47 % 14,746 14,746 0.68 % STACR 2023-2042 17,596 17,868 5.99 % 17,788 18,198 5.00 % Zero-coupon: Medium-term notes — non-callable 2019-2039 5,009 2,428 6.29 % 5,141 2,415 5.94 % Other 2047-2048 — 2 0.63 % — — — % Hedging-related basis adjustments N/A (215 ) N/A (79 ) Total other senior debt 203,392 200,890 242,463 240,171 Other subordinated debt: Fixed-rate — — — % 121 121 7.83 % Zero-coupon 2019 332 303 10.51 % 332 273 10.51 % Total other subordinated debt 332 303 453 394 Total other long-term debt $203,724 $201,193 2.58 % $242,916 $240,565 2.04 % (1) Represents par value, net of associated discounts or premiums and issuance costs. Includes $4.4 billion and $5.2 billion at December 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, excluding hedge-related basis adjustments.
Table - Contractual Maturity of Other Long-term Debt and Debt Securities of Consolidated Trusts Held by Third Parties	The table below summarizes the contractual maturities of other long-term debt securities at December 31, 2018 . Table 8.5 - Contractual Maturities of Other Long-Term Debt and Debt Securities (In millions) Par Value Annual Maturities Other long-term debt (excluding STACR and SCR): 2019 $58,002 2020 42,296 2021 30,898 2022 20,802 2023 15,929 Thereafter 18,068 Debt securities of consolidated trusts held by third parties, STACR, and SCR (1) 1,766,467 Total 1,952,462 Net discounts, premiums, debt issuance costs, hedge-related, and other basis adjustments (2) 41,408 Total debt securities of consolidated trusts held by third parties, STACR, SCR and other long-term debt $1,993,870 (1) 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 without penalty. (2) Other basis adjustments primarily represent changes in fair value on debt where we have elected the fair value option.

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 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 consolidated balance sheets. Table 9.1 - Derivative Assets and Liabilities at Fair Value As of December 31, 2018 As of 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 $145,386 $1,380 ($181 ) $213,717 $2,121 ($1,224 ) Pay-fixed 170,899 476 (2,287 ) 185,400 751 (5,008 ) Basis (floating to floating) 5,404 1 — 5,244 — (2 ) Total interest-rate swaps 321,689 1,857 (2,468 ) 404,361 2,872 (6,234 ) Option-based: Call swaptions Purchased 43,625 2,007 — 58,975 2,709 — Written 4,400 — (133 ) 4,650 — (101 ) Put swaptions Purchased (1) 88,075 1,565 — 47,810 1,058 — Written 1,750 — (4 ) 3,000 — (20 ) Other option-based derivatives (2) 10,481 628 — 10,683 757 — Total option-based 148,331 4,200 (137 ) 125,118 4,524 (121 ) Futures 161,185 — — 267,385 — — Commitments 36,044 90 (179 ) 54,207 44 (64 ) Credit derivatives 2,030 — (35 ) 3,569 7 (46 ) Other 12,212 1 (103 ) 2,906 1 (19 ) Total derivatives not designated as hedges 681,491 6,148 (2,922 ) 857,546 7,448 (6,484 ) Designated as fair value hedges Interest-rate swaps: Receive-fixed 117,038 23 (935 ) 83,352 2 (714 ) Pay-fixed 77,513 247 (571 ) 69,402 1,388 (291 ) Total derivatives designated as fair value hedges 194,551 270 (1,506 ) 152,754 1,390 (1,005 ) Derivative interest receivable (payable) (3) 889 (1,096 ) 1,407 (1,596 ) Netting adjustments (4) (6,972 ) 4,941 (9,870 ) 8,816 Total derivative portfolio, net $876,042 $335 ($583 ) $1,010,300 $375 ($269 ) (1) Includes swaptions on credit indices with a notional or contractual amount of $45.9 billion and $13.4 billion at December 31, 2018 and December 31, 2017, respectively, and a fair value of $113.0 million and $5.0 million at December 31, 2018 and December 31, 2017, respectively. (2) Primarily consists of purchased interest-rate caps and floors. (3) Includes other derivative receivables and payables. (4) Represents counterparty netting and cash collateral netting.
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 consolidated statements of comprehensive income as derivative gains (losses). In addition, for the first three quarters of 2017, the table includes the accrual of periodic cash settlements on derivatives in qualifying hedge relationships. Table 9.2 - Gains and Losses on Derivatives Year Ended December 31, (In millions) 2018 2017 2016 Not designated as hedges Interest-rate swaps: Receive-fixed ($2,457 ) ($1,343 ) ($3,539 ) Pay-fixed 3,880 1,972 3,717 Basis (floating to floating) (1 ) (3 ) — Total interest-rate swaps 1,422 626 178 Option based: Call swaptions Purchased (791 ) (404 ) 234 Written 20 24 (45 ) Put swaptions Purchased 272 (673 ) 210 Written (2 ) 50 35 Other option-based derivatives (1) (129 ) (38 ) (13 ) Total option-based (630 ) (1,041 ) 421 Other: Futures 57 144 334 Commitments 606 (91 ) 631 Credit derivatives (5 ) (29 ) (75 ) Other (39 ) (7 ) (3 ) Total other 619 17 887 Accrual of periodic cash settlements: Receive-fixed interest-rate swaps 364 1,511 2,316 Pay-fixed interest-rate swaps (584 ) (3,101 ) (4,077 ) Other 79 — 1 Total accrual of periodic cash settlements (141 ) (1,590 ) (1,760 ) Total $1,270 ($1,988 ) ($274 ) (1) Primarily consists of purchased interest-rate caps and floors.
Table - Gains and Losses on Fair Value Hedge	The tables below present the gains and losses on derivatives and hedged items while designated in qualifying fair value hedge relationships. Table 9.3 - Gains and Losses on Fair Value Hedges Year Ended December 31, 2018 (In millions) Interest Income - Mortgage Loans Interest Expense Other Income (Loss) Total amounts of income and expense line items presented on our consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $66,037 ($58,033 ) $714 Interest contracts on mortgage loans held-for-investment: Gain or (loss) on fair value hedging relationships: Hedged items (1,776 ) — — Derivatives designated as hedging instruments 1,091 — — Interest accruals on hedging instruments (439 ) — — Discontinued hedge related basis adjustment amortization 133 — — Interest contracts on debt: Gain or (loss) on fair value hedging relationships: Hedged Items — 145 — Derivatives designated as hedging instruments — 155 — Interest accruals on hedging instruments — (313 ) — Discontinued hedge related basis adjustment amortization — (3 ) — Year Ended December 31, 2017 (In millions) Interest Income - Mortgage Loans Interest Expense Other Income (Loss) Total amounts of income and expense line items presented on our consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $63,735 ($53,643 ) $4,982 Interest contracts on mortgage loans held-for-investment: Gain or (loss) on fair value hedging relationships: (1) Hedged items (107 ) — 351 Derivatives designated as hedging instruments (2) 313 — (215 ) Interest accruals on hedging instruments (83 ) — — Discontinued hedge related basis adjustment amortization (16 ) — — Interest contracts on debt: Gain or (loss) on fair value hedging relationships: Hedged Items — 93 — Derivatives designated as hedging instruments — (53 ) — Interest accruals on hedging instruments — 8 — Discontinued hedge related basis adjustment amortization — — — (1) For the first three quarters of 2017, the gains or losses on derivatives and hedged items were recorded on other income (loss). Beginning in 4Q 2017, gains or losses are recorded in interest income - mortgage loans on our consolidated statements of comprehensive income due to adoption of amended hedge accounting guidance. (2) The gain or (loss) on fair value hedging relationships in 2017 excludes ($277) million of interest accruals which were recorded in derivatives gains (losses) on our consolidated statements of comprehensive income.
Table - Cumulative Basis Adjustment on Fair Value Hedges	The tables below present the carrying amounts of the hedged items that have been in a qualifying fair value hedge by their respective balance sheet line item, as well as the hedged item's cumulative basis adjustments. The hedged item carrying amounts include both designated and discontinued hedges. Table 9.4 - Cumulative Basis Adjustments due to Fair Value Hedging As of December 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 $193,547 ($1,237 ) ($1,237 ) Debt (127,215 ) 216 (8 ) As of 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 _2

Collateral and Offsetting of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Offsetting [Abstract]
Table - Offsetting of Financial Assets and Liabilities	The tables below present offsetting and collateral information related to derivatives, securities purchased under agreements to resell, and securities sold under agreements to repurchase. Securities sold under agreements to repurchase are included in debt, net on our consolidated balance sheets. Table 10.1 - Offsetting and Collateral Information of Financial Assets and Liabilities As of December 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented on the Consolidated Balance Sheets Gross Amount Not Offset on the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,213 ($4,544 ) ($2,448 ) $221 ($173 ) $48 Cleared and exchange-traded derivatives 3 — 20 23 — 23 Other 91 — — 91 — 91 Total derivatives 7,307 (4,544 ) (2,428 ) 335 (173 ) 162 Securities purchased under agreements to resell (3)(4) 34,771 — — 34,771 (34,771 ) — Total $42,078 ($4,544 ) ($2,428 ) $35,106 ($34,944 ) $162 Liabilities: Derivatives: OTC derivatives ($4,963 ) $4,544 $296 ($123 ) $— ($123 ) Cleared and exchange-traded derivatives (244 ) — 101 (143 ) — (143 ) Other (317 ) — — (317 ) — (317 ) Total derivatives (5,524 ) 4,544 397 (583 ) — (583 ) Securities sold under agreements to repurchase (4) (6,019 ) — — (6,019 ) 6,019 — Total ($11,543 ) $4,544 $397 ($6,602 ) $6,019 ($583 ) As of December 31, 2017 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented on the Consolidated Balance Sheets Gross Amount Not Offset on 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 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 $2.5 billion and $3.1 billion as of December 31, 2018 and December 31, 2017, respectively. (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 December 31, 2018 and December 31, 2017 , we had $20.1 billion and $34.8 billion , respectively, of securities pledged to us in these transactions. In addition, at December 31, 2018 and December 31, 2017, we had $2.5 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 tables below present offsetting and collateral information related to derivatives, securities purchased under agreements to resell, and securities sold under agreements to repurchase. Securities sold under agreements to repurchase are included in debt, net on our consolidated balance sheets. Table 10.1 - Offsetting and Collateral Information of Financial Assets and Liabilities As of December 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented on the Consolidated Balance Sheets Gross Amount Not Offset on the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,213 ($4,544 ) ($2,448 ) $221 ($173 ) $48 Cleared and exchange-traded derivatives 3 — 20 23 — 23 Other 91 — — 91 — 91 Total derivatives 7,307 (4,544 ) (2,428 ) 335 (173 ) 162 Securities purchased under agreements to resell (3)(4) 34,771 — — 34,771 (34,771 ) — Total $42,078 ($4,544 ) ($2,428 ) $35,106 ($34,944 ) $162 Liabilities: Derivatives: OTC derivatives ($4,963 ) $4,544 $296 ($123 ) $— ($123 ) Cleared and exchange-traded derivatives (244 ) — 101 (143 ) — (143 ) Other (317 ) — — (317 ) — (317 ) Total derivatives (5,524 ) 4,544 397 (583 ) — (583 ) Securities sold under agreements to repurchase (4) (6,019 ) — — (6,019 ) 6,019 — Total ($11,543 ) $4,544 $397 ($6,602 ) $6,019 ($583 ) As of December 31, 2017 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented on the Consolidated Balance Sheets Gross Amount Not Offset on 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 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 $2.5 billion and $3.1 billion as of December 31, 2018 and December 31, 2017, respectively. (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 December 31, 2018 and December 31, 2017 , we had $20.1 billion and $34.8 billion , respectively, of securities pledged to us in these transactions. In addition, at December 31, 2018 and December 31, 2017, we had $2.5 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. Table 10.2 - Collateral in the Form of Securities Pledged As of December 31, 2018 (In millions) Derivatives Securities sold under agreements to repurchase Other (3) Total Cash equivalents (1) $— $2,595 $— $2,595 Debt securities of consolidated trusts (2) 362 — 179 541 Available-for-sale securities — — 1 1 Trading securities 2,160 3,432 73 5,665 Total securities pledged $2,522 $6,027 $253 $8,802 December 31, 2017 (In millions) Derivatives Securities sold under agreements to repurchase Other (3) Total Debt securities of consolidated trusts (2) $375 $— $111 $486 Trading securities 2,766 9,705 362 12,833 Total securities pledged $3,141 $9,705 $473 $13,319 (1) Represents U.S. Treasury securities accounted for as cash equivalents. (2) 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 consolidated balance sheets. (3) 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. Table 10.3 - Underlying Collateral Pledged As of December 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 $— $2,103 $3,924 $— $6,027

Stockholders' Equity and Earn_2

Stockholders' Equity and Earnings per Share (Tables)	12 Months Ended
	Dec. 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 2018 and 2017, respectively, related to available-for-sale securities, closed cash flow hedges, and our defined benefit plans. Table 11.1 - Changes in AOCI by Component, Net of Taxes Year Ended December 31, 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) (476 ) — 11 (465 ) Amounts reclassified from accumulated other comprehensive income (246 ) 114 (16 ) (148 ) Changes in AOCI by component (722 ) 114 (5 ) (613 ) Cumulative effect of change in accounting principle (2) $143 ($73 ) $19 $89 Ending balance $83 ($315 ) $97 ($135 ) Year Ended December 31, 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) 857 — 63 920 Amounts reclassified from accumulated other comprehensive income (1,110 ) 124 (1 ) (987 ) Changes in AOCI by component (253 ) 124 62 (67 ) Ending balance $662 ($356 ) $83 $389 Year Ended December 31, 2016 (In millions) AOCI Related to Available- For-Sale Securities AOCI Related to Cash Flow Hedge Relationships AOCI Related to Defined Benefit Plans Total Beginning balance $1,740 ($621 ) $34 $1,153 Other comprehensive income before reclassifications (1) (318 ) — (10 ) (328 ) Amounts reclassified from accumulated other comprehensive income (507 ) 141 (3 ) (369 ) Changes in AOCI by component (825 ) 141 (13 ) (697 ) Ending balance $915 ($480 ) $21 $456 (1) For the years ended December 31, 2018 , 2017, and 2016, net of tax expense (benefit) of $(0.1) billion , $0.5 billion , and ($0.2) 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 on our consolidated statements of comprehensive income. Table 11.2 - Reclassifications from AOCI to Net Income Year Ended December 31, (In millions) 2018 2017 2016 AOCI related to available-for-sale securities Affected line items on the consolidated statements of comprehensive income: Investment securities gains (losses) $312 $1,708 $780 Total before tax 312 1,708 780 Income tax (expense) or benefit (66 ) (598 ) (273 ) Net of tax 246 1,110 507 AOCI related to cash flow hedge relationships Affected line items on the consolidated statements of comprehensive income: Interest expense (133 ) (164 ) (192 ) Income tax (expense) or benefit 19 40 51 Net of tax (114 ) (124 ) (141 ) AOCI related to defined benefit plans Affected line items on the consolidated statements of comprehensive income: Salaries and employee benefits 20 2 4 Income tax (expense) or benefit (4 ) (1 ) (1 ) Net of tax 16 1 3 Total reclassifications in the period net of tax $148 $987 $369
Table - Senior Preferred Stock	The table below provides a summary of our senior preferred stock outstanding at December 31, 2018 . Table 11.3 - Senior Preferred Stock ( In millions , except initial liquidation preference price per share) Shares Authorized Shares Outstanding Total Par Value Initial Liquidation Preference Price per Share Total Liquidation Preference Non-draw Adjustment Dates: September 8, 2008 1.00 1.00 $1.00 $1,000 $1,000 December 31, 2017 — — — N/A 3,000 Draw Dates: November 24, 2008 — — — N/A 13,800 March 31, 2009 — — — N/A 30,800 June 30, 2009 — — — N/A 6,100 June 30, 2010 — — — N/A 10,600 September 30, 2010 — — — N/A 1,800 December 30, 2010 — — — N/A 100 March 31, 2011 — — — N/A 500 September 30, 2011 — — — N/A 1,479 December 30, 2011 — — — N/A 5,992 March 30, 2012 — — — N/A 146 June 29, 2012 — — — N/A 19 March 30, 2018 — — — N/A 312 Total, senior preferred stock 1.00 1.00 $1.00 $75,648
Table - Preferred Stock	The table below provides a summary of our preferred stock outstanding at their redemption values at December 31, 2018 . Table 11.4 - Preferred Stock ( In millions , except redemption price per share) Issue Date Shares Authorized Shares Outstanding Total Par Value Redemption Price per Share Total Outstanding Balance Redeemable On or After OTCQB Symbol Preferred stock: 1996 Variable-rate (1) April 26, 1996 5.00 5.00 $5.00 $50.00 $250 June 30, 2001 FMCCI 5.81% October 27, 1997 3.00 3.00 3.00 50.00 150 October 27, 1998 (2) 5% March 23, 1998 8.00 8.00 8.00 50.00 400 March 31, 2003 FMCKK 1998 Variable-rate (3) September 23 and 29, 1998 4.40 4.40 4.40 50.00 220 September 30, 2003 FMCCG 5.10% September 23, 1998 8.00 8.00 8.00 50.00 400 September 30, 2003 FMCCH 5.30% October 28, 1998 4.00 4.00 4.00 50.00 200 October 30, 2000 (2) 5.10% March 19, 1999 3.00 3.00 3.00 50.00 150 March 31, 2004 (2) 5.79% July 21, 1999 5.00 5.00 5.00 50.00 250 June 30, 2009 FMCCK 1999 Variable-rate (4) November 5, 1999 5.75 5.75 5.75 50.00 287 December 31, 2004 FMCCL 2001 Variable-rate (5) January 26, 2001 6.50 6.50 6.50 50.00 325 March 31, 2003 FMCCM 2001 Variable-rate (6) March 23, 2001 4.60 4.60 4.60 50.00 230 March 31, 2003 FMCCN 5.81% March 23, 2001 3.45 3.45 3.45 50.00 173 March 31, 2011 FMCCO 6% May 30, 2001 3.45 3.45 3.45 50.00 173 June 30, 2006 FMCCP 2001 Variable-rate (7) May 30, 2001 4.02 4.02 4.02 50.00 201 June 30, 2003 FMCCJ 5.70% October 30, 2001 6.00 6.00 6.00 50.00 300 December 31, 2006 FMCKP 5.81% January 29, 2002 6.00 6.00 6.00 50.00 300 March 31, 2007 (2) 2006 Variable-rate (8) July 17, 2006 15.00 15.00 15.00 50.00 750 June 30, 2011 FMCCS 6.42% July 17, 2006 5.00 5.00 5.00 50.00 250 June 30, 2011 FMCCT 5.90% October 16, 2006 20.00 20.00 20.00 25.00 500 September 30, 2011 FMCKO 5.57% January 16, 2007 44.00 44.00 44.00 25.00 1,100 December 31, 2011 FMCKM 5.66% April 16, 2007 20.00 20.00 20.00 25.00 500 March 31, 2012 FMCKN 6.02% July 24, 2007 20.00 20.00 20.00 25.00 500 June 30, 2012 FMCKL 6.55% September 28, 2007 20.00 20.00 20.00 25.00 500 September 30, 2017 FMCKI 2007 Fixed-to-floating rate (9) December 4, 2007 240.00 240.00 240.00 25.00 6,000 December 31, 2012 FMCKJ Total, preferred stock 464.17 464.17 $464.17 $14,109 (1) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 1% divided by 1.377, and is capped at 9.00%. (2) Issued through private placement. (3) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 1% divided by 1.377, and is capped at 7.50%. (4) Dividend rate resets on January 1 every five years after January 1, 2005 based on a five-year Constant Maturity Treasury rate, and is capped at 11.00%. Optional redemption on December 31, 2004 and on December 31 every five years thereafter. (5) Dividend rate resets on April 1 every two years after April 1, 2003 based on the two-year Constant Maturity Treasury rate plus 0.10%, and is capped at 11.00%. Optional redemption on March 31, 2003 and on March 31 every two years thereafter. (6) Dividend rate resets on April 1 every year based on 12-month LIBOR minus 0.20%, and is capped at 11.00%. Optional redemption on March 31, 2003 and on March 31 every year thereafter. (7) Dividend rate resets on July 1 every two years after July 1, 2003 based on the two-year Constant Maturity Treasury rate plus 0.20%, and is capped at 11.00%. Optional redemption on June 30, 2003 and on June 30 every two years thereafter. (8) Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 0.50% but not less than 4.00%. (9) Dividend rate is set at an annual fixed rate of 8.375% from December 4, 2007 through December 31, 2012. For the period beginning on or after January 1, 2013, dividend rate resets quarterly and is equal to the higher of: (a) the sum of three-month LIBOR plus 4.16% per annum or (b) 7.875% per annum. Optional redemption on December 31, 2012 and on December 31 every five years thereafter.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Table - Federal Income Tax (Expense) Benefit	The table below presents the components of our federal income tax expense for 2018, 2017, and 2016. We are exempt from state and local income taxes. Table 12.1 - Federal Income Tax Expense Year Ended December 31, (In millions) 2018 2017 2016 Current income tax expense ($848 ) ($3,436 ) ($1,037 ) Deferred income tax expense (1,391 ) (7,773 ) (2,787 ) Total income tax expense ($2,239 ) ($11,209 ) ($3,824 )
Table - Reconciliation of Statutory to Effective Tax Rate	The table below presents the reconciliation between our federal statutory income tax rate and our effective tax rate for 2018 , 2017 , and 2016 . Table 12.2 - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate Year Ended December 31, 2018 2017 2016 (Dollars in millions) Amount Percent Amount Percent Amount Percent Statutory corporate tax rate ($2,410 ) 21.0 % ($5,892 ) 35.0 % ($4,074 ) 35.0 % Tax-exempt interest 19 (0.2 ) 39 (0.2 ) 36 (0.3 ) Tax credits 56 (0.5 ) 135 (0.8 ) 243 (2.1 ) Valuation allowance (13 ) 0.1 (54 ) 0.3 — — Revaluation of deferred tax asset to enacted rate 184 (1.6 ) (5,405 ) 32.1 — — Other (75 ) 0.7 (32 ) 0.2 (29 ) 0.3 Effective tax rate ($2,239 ) 19.5 % ($11,209 ) 66.6 % ($3,824 ) 32.9 %
Table - Deferred Tax Assets and Liabilities	The table below presents the balance of significant deferred tax assets and liabilities at December 31, 2018 and December 31, 2017. The valuation allowance relates to capital loss carryforwards included in Other Items, net that we expect to expire unused. Table 12.3 - Deferred Tax Assets and Liabilities Year Ended December 31, (In millions) 2018 2017 Deferred tax assets: Deferred fees $4,424 $4,679 Basis differences related to derivative instruments 1,767 2,041 Credit related items and allowance for loan losses 177 291 Basis differences related to assets held for investment 569 1,288 LIHTC partnerships and AMT credit carryforward — — Other items, net 20 55 Total deferred tax assets 6,957 8,354 Deferred tax liabilities: Unrealized gains related to available-for-sale securities (23 ) (214 ) Total deferred tax liabilities (23 ) (214 ) Valuation allowance (46 ) (33 ) Deferred tax assets, net $6,888 $8,107

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Table - Segment Earnings	The table below presents Segment Earnings by segment. Table 13.1 - Segment Earnings Year Ended December 31, (In millions) 2018 2017 2016 Segment Earnings (loss), net of taxes: Single-family Guarantee $3,908 $2,759 $2,437 Multifamily 1,319 2,014 1,818 Capital Markets 4,008 6,257 3,560 All Other — (5,405 ) — Total Segment Earnings, net of taxes 9,235 5,625 7,815 Net income (loss) $9,235 $5,625 $7,815 Comprehensive income (loss) of segments: Single-family Guarantee $3,905 $2,799 $2,428 Multifamily 1,236 1,937 1,582 Capital Markets 3,481 6,227 3,108 All Other — (5,405 ) — Comprehensive income (loss) of segments 8,622 5,558 7,118 Comprehensive income (loss) $8,622 $5,558 $7,118
Table - Segment Earnings and Reconciliation to GAAP Financial Statements	The table below presents detailed reconciliations between our GAAP financial statements and Segment Earnings for our reportable segments and All Other. Table 13.2 - Segment Earnings and Reconciliations to GAAP Financial Statements Year Ended December 31, 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 $— $1,096 $3,217 $— $4,313 $7,708 $12,021 Guarantee fee income 6,570 817 — — 7,387 (6,576 ) 811 Benefit (provision) for credit losses 522 24 — — 546 190 736 Mortgage loans gains (losses) — 33 — — 33 691 724 Investment securities gains (losses) — (441 ) (102 ) — (543 ) (152 ) (695 ) Debt gains (losses) 165 54 531 — 750 (30 ) 720 Derivative gains (losses) 9 353 1,314 — 1,676 (406 ) 1,270 Other non-interest income 905 191 400 — 1,496 (782 ) 714 Administrative expense (1,491 ) (437 ) (365 ) — (2,293 ) — (2,293 ) REO operations (expense) income (189 ) 1 — — (188 ) 19 (169 ) Other non-interest (expense) income (1,639 ) (53 ) (11 ) — (1,703 ) (662 ) (2,365 ) Income tax (expense) benefit (944 ) (319 ) (976 ) — (2,239 ) — (2,239 ) Net income (loss) 3,908 1,319 4,008 — 9,235 — 9,235 Changes in unrealized gains (losses) related to available-for-sale securities — (82 ) (640 ) — (722 ) — (722 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 114 — 114 — 114 Changes in defined benefit plans (3 ) (1 ) (1 ) — (5 ) — (5 ) Total other comprehensive income (loss), net of taxes (3 ) (83 ) (527 ) — (613 ) — (613 ) Comprehensive income (loss) $3,905 $1,236 $3,481 $— $8,622 $— $8,622 Year Ended December 31, 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 $— $1,206 $3,279 $— $4,485 $9,679 $14,164 Guarantee fee income 6,350 676 — — 7,026 (6,364 ) 662 Benefit (provision) for credit losses (770 ) (13 ) — — (783 ) 867 84 Mortgage loans gains (losses) — 1,096 — — 1,096 930 2,026 Investment securities gains (losses) — 237 1,048 — 1,285 (249 ) 1,036 Debt gains (losses) (208 ) (10 ) 437 — 219 (68 ) 151 Derivative gains (losses) (37 ) 181 (587 ) — (443 ) (1,545 ) (1,988 ) Other non-interest income 1,838 162 5,788 — 7,788 (2,806 ) 4,982 Administrative expense (1,381 ) (395 ) (330 ) — (2,106 ) — (2,106 ) REO operations (expense) income (203 ) — — — (203 ) 14 (189 ) Other non-interest (expense) income (1,382 ) (66 ) (82 ) — (1,530 ) (458 ) (1,988 ) Income tax expense (1,448 ) (1,060 ) (3,296 ) (5,405 ) (11,209 ) — (11,209 ) Net income (loss) 2,759 2,014 6,257 (5,405 ) 5,625 — 5,625 Changes in unrealized gains (losses) related to available-for-sale securities — (86 ) (167 ) — (253 ) — (253 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 124 — 124 — 124 Changes in defined benefit plans 40 9 13 — 62 — 62 Total other comprehensive income (loss), net of taxes 40 (77 ) (30 ) — (67 ) — (67 ) Comprehensive income (loss) $2,799 $1,937 $6,227 ($5,405 ) $5,558 $— $5,558 Year Ended December 31, 2016 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 $— $1,022 $3,736 $— $4,758 $9,621 $14,379 Guarantee fee income 6,356 511 — — 6,867 (6,354 ) 513 Benefit (provision) for credit losses (481 ) 22 — — (459 ) 1,262 803 Mortgage loans gains (losses) — 972 — — 972 (772 ) 200 Investment securities gains (losses) — 28 165 — 193 (462 ) (269 ) Debt gains (losses) (322 ) (53 ) 77 — (298 ) (175 ) (473 ) Derivative gains (losses) (69 ) 407 1,151 — 1,489 (1,763 ) (274 ) Other non-interest income 928 219 481 — 1,628 (825 ) 803 Administrative expense (1,323 ) (362 ) (320 ) — (2,005 ) — (2,005 ) REO operations (expense) income (298 ) — — — (298 ) 11 (287 ) Other non-interest (expense) income (1,169 ) (58 ) 19 — (1,208 ) (543 ) (1,751 ) Income tax expense (1,185 ) (890 ) (1,749 ) — (3,824 ) — (3,824 ) Net income (loss) 2,437 1,818 3,560 — 7,815 — 7,815 Changes in unrealized gains (losses) related to available-for-sale securities — (234 ) (591 ) — (825 ) — (825 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 141 — 141 — 141 Changes in defined benefit plans (9 ) (2 ) (2 ) — (13 ) — (13 ) Total other comprehensive income (loss), net of taxes (9 ) (236 ) (452 ) — (697 ) — (697 ) Comprehensive income (loss) $2,428 $1,582 $3,108 $— $7,118 $— $7,118

Concentration of Credit and O_2

Concentration of Credit and Other Risks (Tables)	12 Months Ended
	Dec. 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 $1.9 trillion and $1.8 trillion UPB of our single-family credit guarantee portfolio at December 31, 2018 and December 31, 2017 , respectively. See Note 4 and Note 7 for more information about credit risk associated with loans and mortgage-related securities that we hold or guarantee. Table 14.1 - Concentration of Credit Risk of Our Single-Family Credit Guarantee Portfolio December 31, 2018 December 31, 2017 Percent of Credit Losses Percentage of Portfolio Serious Delinquency Rate Percentage of Portfolio Serious Delinquency Rate 2018 2017 Core single-family loan portfolio 82 % 0.22 % 78 % 0.35 % 10 % 3 % Legacy and relief refinance single-family loan portfolio 18 1.93 22 2.59 90 97 Total 100 % 0.69 100 % 1.08 100 % 100 % Region (1) West 30 % 0.38 30 % 0.47 17 % 27 % Northeast 24 0.96 25 1.24 39 34 North Central 16 0.63 16 0.81 19 15 Southeast 16 0.90 16 1.95 18 20 Southwest 14 0.57 13 0.98 7 4 Total 100 % 0.69 100 % 1.08 100 % 100 % State (2) California 18 % 0.35 18 % 0.41 11 % 18 % New York 5 1.37 5 1.74 11 9 Florida 6 1.01 6 3.33 10 13 New Jersey 3 1.24 3 1.78 9 9 Illinois 5 0.86 5 1.13 9 9 All other 63 0.64 63 0.91 50 42 Total 100 % 0.69 % 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 the year ended December 31, 2018 . The table below summarizes the concentration of multifamily loans in our multifamily mortgage portfolio classified by legal structure, based on UPB. Table 14.3 - Concentration of Credit Risk of Our Multifamily Mortgage Portfolio As of December 31, 2018 As of December 31, 2017 (Dollars in billions) UPB Delinquency Rate (1) UPB Delinquency Rate (1) Unsecuritized loans $34.8 0.01 % $38.2 0.01 % Securitization-related products 226.9 0.01 192.5 0.02 Other mortgage-related guarantees 9.8 — 10.0 — Total $271.5 0.01 % $240.7 0.02 % (1) Based on loans two monthly payments or more delinquent or in foreclosure. 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. Because Genworth Mortgage Insurance Corporation, a subsidiary of Genworth Financial, Inc., is an approved mortgage insurer, Freddie Mac has evaluated the planned acquisition and approved China Oceanwide Holdings Group's control of Genworth Mortgage Insurance Corporation. Regulatory and other approvals of the acquisition are still pending. Table 14.6 - Mortgage Insurer Concentration Mortgage Insurance Coverage (2) Mortgage Insurer Credit Rating (1) December 31, 2018 December 31, 2017 Arch Mortgage Insurance Company A- 24 % 24 % Radian Guaranty Inc. BBB 20 21 Mortgage Guaranty Insurance Corporation BBB 19 19 Genworth Mortgage Insurance Corporation BB+ 14 15 Essent Guaranty, Inc. BBB+ 14 12 Total 91 % 91 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Latest rating available as of December 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 tables below summarize the concentration of single-family and multifamily sellers who provided 10% or more of our purchase volume. Table 14.4 - Seller Concentration Single-family Sellers 2018 2017 Wells Fargo Bank, N.A. 12 % 15 % Other top 10 sellers 38 38 Top 10 single-family sellers 50 % 53 % Multifamily Sellers 2018 2017 CBRE Capital Markets, Inc. 18 % 18 % Berkadia Commercial Mortgage LLC 13 11 Walker & Dunlop, LLC 9 10 Other top 10 sellers 39 39 Top 10 multifamily sellers 79 % 78 % The tables below summarize 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. Table 14.5 - Servicer Concentration Single-family Servicers December 31, 2018 (1) December 31, 2017 (1) Wells Fargo Bank, N.A. 17 % 18 % Other top 10 servicers 39 40 Top 10 single-family servicers 56 % 58 % Multifamily Servicers December 31, 2018 December 31, 2017 Wells Fargo Bank, N.A. 14 % 16 % CBRE Capital Markets, Inc. 14 12 Berkadia Commercial Mortgage LLC 11 11 Other top 10 servicers 36 36 Top 10 multifamily servicers 75 % 75 % (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.
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 may have an even higher risk of delinquency than those with an individual attribute. Table 14.2 - Certain Higher Risk Categories in Our Single-Family Credit Guarantee Portfolio Percentage of Portfolio (1) Serious Delinquency Rate (1) (Percentage of portfolio based on UPB) December 31, 2018 December 31, 2017 December 31, 2018 December 31, 2017 Interest-only 1 % 1 % 3.43 % 4.97 % Alt-A 1 1 4.13 5.62 Original LTV ratio greater than 90% (2) 18 17 1.04 1.70 Lower credit scores at origination (less than 620) 2 2 4.59 6.34 (1) Excludes loans underlying certain other securitization products for which data was not available. (2) Includes HARP loans, which we purchased as part of our participation in the MHA Program.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Table - Assets and Liabilities on Our Consolidated Balance Sheets Measured at Fair Value on a Recurring Basis	Table 15.1 - Assets and Liabilities Measured at Fair Value on a Recurring Basis December 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 $— $26,102 $4,097 $— $30,199 Other agency — 1,668 38 — 1,706 Non-agency RMBS — — 1,403 — 1,403 Non-agency CMBS — 18 — — 18 Obligations of states and political subdivisions — — 237 — 237 Total available-for-sale securities, at fair value — 27,788 5,775 — 33,563 Trading, at fair value: Mortgage-related securities: Freddie Mac — 10,535 3,286 — 13,821 Other agency — 2,544 7 — 2,551 All other — — 1 — 1 Total mortgage-related securities — 13,079 3,294 — 16,373 Non-mortgage-related securities 15,885 3,290 — — 19,175 Total trading securities, at fair value 15,885 16,369 3,294 — 35,548 Total investments in securities 15,885 44,157 9,069 — 69,111 Mortgage loans: Held-for-sale, at fair value — 23,106 — — 23,106 Derivative assets, net: Interest-rate swaps — 2,127 — — 2,127 Option-based derivatives — 4,200 — — 4,200 Other — 90 1 — 91 Subtotal, before netting adjustments — 6,417 1 — 6,418 Netting adjustments (1) — — — (6,083 ) (6,083 ) Total derivative assets, net — 6,417 1 (6,083 ) 335 Other assets: Guarantee asset, at fair value — — 3,633 — 3,633 Non-derivative held-for-sale purchase commitments, at fair value — 159 — — 159 All other, at fair value — — 137 — 137 Total other assets — 159 3,770 — 3,929 Total assets carried at fair value on a recurring basis $15,885 $73,839 $12,840 ($6,083 ) $96,481 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $27 $728 $— $755 Other debt, at fair value — 4,223 134 — 4,357 Derivative liabilities, net: Interest-rate swaps — 3,974 — — 3,974 Option-based derivatives — 137 — — 137 Other — 225 92 — 317 Subtotal, before netting adjustments — 4,336 92 — 4,428 Netting adjustments (1) — — — (3,845 ) (3,845 ) Total derivative liabilities, net — 4,336 92 (3,845 ) 583 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 17 — — 17 Total liabilities carried at fair value on a recurring basis $— $8,603 $954 ($3,845 ) $5,712 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 $6,751 $— $37,166 Other agency — 2,007 46 — 2,053 Non-agency RMBS — — 3,933 — 3,933 Non-agency CMBS — 87 1 — 88 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 2,907 — 14,300 Other agency — 3,565 9 — 3,574 All other — 27 1 — 28 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 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 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 on our consolidated statements of comprehensive income for Level 3 assets and liabilities. Table 15.2 - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs Year Ended December 31, 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 $6,751 ($31 ) ($213 ) ($244 ) $56 $— ($1,546 ) ($920 ) $— $— $4,097 ($7 ) Other agency 46 — (1 ) (1 ) — — — (6 ) — (1 ) 38 — Non-agency RMBS 3,933 948 (641 ) 307 — — (2,481 ) (356 ) — — 1,403 23 Non-agency CMBS 1 — — — — — — (1 ) — — — — Obligations of states and political subdivisions 357 — (3 ) (3 ) — — — (117 ) — — 237 — Total available-for-sale mortgage-related securities 11,088 917 (858 ) 59 56 — (4,027 ) (1,400 ) — (1 ) 5,775 16 Trading, at fair value: Mortgage-related securities: Freddie Mac 2,907 (515 ) — (515 ) 1,484 — (1,058 ) (79 ) 579 (32 ) 3,286 (448 ) Other agency 9 (2 ) — (2 ) — — — — — — 7 (1 ) All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 2,917 (517 ) — (517 ) 1,484 — (1,058 ) (79 ) 579 (32 ) 3,294 (449 ) Other assets: Guarantee asset 3,171 (80 ) — (80 ) — 1,118 — (576 ) — — 3,633 (80 ) All other, at fair value 45 28 — 28 102 31 (57 ) (12 ) — — 137 25 Total other assets $3,216 ($52 ) $— ($52 ) $102 $1,149 ($57 ) ($588 ) $— $— $3,770 ($55 ) 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 ($2 ) $— ($2 ) $— $100 $— $— $— $— $728 ($2 ) Other debt, at fair value 137 — — — — 2 — (5 ) — — 134 — Net derivatives (2) $57 $37 $— $37 $— $15 $— ($18 ) $— $— $91 $20 Referenced footnotes are included after the prior period tables. Year Ended December 31, 2017 Balance, January 1, 2017 Realized and unrealized gains (losses) Purchases Issues Sales Settlements, net Transfers into Level 3 (1) Transfers out of Level 3 (1) Balance, December 31, 2017 Unrealized gains (losses) still held (3) (In millions) Included in earnings Included in other comprehensive income Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $9,847 ($12 ) $103 $91 $2,175 $— ($932 ) ($1,352 ) $17 ($3,095 ) $6,751 ($22 ) Other agency 66 — (1 ) (1 ) — — — (11 ) — (8 ) 46 — Non-agency RMBS 11,797 1,564 (270 ) 1,294 — — (7,688 ) (1,470 ) — — 3,933 124 Non-agency CMBS 3,366 347 (120 ) 227 — — (3,556 ) (36 ) — — 1 2 Obligations of states and political subdivisions 665 1 (3 ) (2 ) — — — (306 ) — — 357 — Total available-for-sale mortgage-related securities 25,741 1,900 (291 ) 1,609 2,175 — (12,176 ) (3,175 ) 17 (3,103 ) 11,088 104 Trading, at fair value: Mortgage-related securities: Freddie Mac 1,207 (136 ) — (136 ) 2,655 — (592 ) (36 ) 14 (205 ) 2,907 (125 ) Other agency 12 (3 ) — (3 ) — — — — — — 9 (3 ) All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 1,220 (139 ) — (139 ) 2,655 — (592 ) (36 ) 14 (205 ) 2,917 (128 ) Other assets: Guarantee asset 2,298 (27 ) — (27 ) — 1,387 — (487 ) — — 3,171 (26 ) All other, at fair value 2 (10 ) — (10 ) 33 31 (11 ) — — — 45 (10 ) Total other assets $2,300 ($37 ) $— ($37 ) $33 $1,418 ($11 ) ($487 ) $— $— $3,216 ($36 ) Balance, Realized and unrealized (gains) losses Purchases Issues Sales Settlements, net Transfers into Level 3 (1) Transfers out of Level 3 (1) Balance, Unrealized (gains) losses still held (3) Included in earnings Included in other comprehensive income Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $— $— $— $— $— $630 $— $— $— $— $630 $— Other debt, at fair value 95 — — — — 50 — (8 ) — — 137 — Net derivatives (2) $52 $40 $— $40 $— ($10 ) $— ($25 ) $— $— $57 $20 (1) Transfers out of Level 3 during 2018 and 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 2018 and 2017 consisted primarily of certain mortgage-related securities due to a decrease in market activity and the availability of 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 December 31, 2018 and December 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	The tables below present a reconciliation of all assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3. The tables also present gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized on our consolidated statements of comprehensive income for Level 3 assets and liabilities. Table 15.2 - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs Year Ended December 31, 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 $6,751 ($31 ) ($213 ) ($244 ) $56 $— ($1,546 ) ($920 ) $— $— $4,097 ($7 ) Other agency 46 — (1 ) (1 ) — — — (6 ) — (1 ) 38 — Non-agency RMBS 3,933 948 (641 ) 307 — — (2,481 ) (356 ) — — 1,403 23 Non-agency CMBS 1 — — — — — — (1 ) — — — — Obligations of states and political subdivisions 357 — (3 ) (3 ) — — — (117 ) — — 237 — Total available-for-sale mortgage-related securities 11,088 917 (858 ) 59 56 — (4,027 ) (1,400 ) — (1 ) 5,775 16 Trading, at fair value: Mortgage-related securities: Freddie Mac 2,907 (515 ) — (515 ) 1,484 — (1,058 ) (79 ) 579 (32 ) 3,286 (448 ) Other agency 9 (2 ) — (2 ) — — — — — — 7 (1 ) All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 2,917 (517 ) — (517 ) 1,484 — (1,058 ) (79 ) 579 (32 ) 3,294 (449 ) Other assets: Guarantee asset 3,171 (80 ) — (80 ) — 1,118 — (576 ) — — 3,633 (80 ) All other, at fair value 45 28 — 28 102 31 (57 ) (12 ) — — 137 25 Total other assets $3,216 ($52 ) $— ($52 ) $102 $1,149 ($57 ) ($588 ) $— $— $3,770 ($55 ) 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 ($2 ) $— ($2 ) $— $100 $— $— $— $— $728 ($2 ) Other debt, at fair value 137 — — — — 2 — (5 ) — — 134 — Net derivatives (2) $57 $37 $— $37 $— $15 $— ($18 ) $— $— $91 $20 Referenced footnotes are included after the prior period tables. Year Ended December 31, 2017 Balance, January 1, 2017 Realized and unrealized gains (losses) Purchases Issues Sales Settlements, net Transfers into Level 3 (1) Transfers out of Level 3 (1) Balance, December 31, 2017 Unrealized gains (losses) still held (3) (In millions) Included in earnings Included in other comprehensive income Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $9,847 ($12 ) $103 $91 $2,175 $— ($932 ) ($1,352 ) $17 ($3,095 ) $6,751 ($22 ) Other agency 66 — (1 ) (1 ) — — — (11 ) — (8 ) 46 — Non-agency RMBS 11,797 1,564 (270 ) 1,294 — — (7,688 ) (1,470 ) — — 3,933 124 Non-agency CMBS 3,366 347 (120 ) 227 — — (3,556 ) (36 ) — — 1 2 Obligations of states and political subdivisions 665 1 (3 ) (2 ) — — — (306 ) — — 357 — Total available-for-sale mortgage-related securities 25,741 1,900 (291 ) 1,609 2,175 — (12,176 ) (3,175 ) 17 (3,103 ) 11,088 104 Trading, at fair value: Mortgage-related securities: Freddie Mac 1,207 (136 ) — (136 ) 2,655 — (592 ) (36 ) 14 (205 ) 2,907 (125 ) Other agency 12 (3 ) — (3 ) — — — — — — 9 (3 ) All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 1,220 (139 ) — (139 ) 2,655 — (592 ) (36 ) 14 (205 ) 2,917 (128 ) Other assets: Guarantee asset 2,298 (27 ) — (27 ) — 1,387 — (487 ) — — 3,171 (26 ) All other, at fair value 2 (10 ) — (10 ) 33 31 (11 ) — — — 45 (10 ) Total other assets $2,300 ($37 ) $— ($37 ) $33 $1,418 ($11 ) ($487 ) $— $— $3,216 ($36 ) Balance, Realized and unrealized (gains) losses Purchases Issues Sales Settlements, net Transfers into Level 3 (1) Transfers out of Level 3 (1) Balance, Unrealized (gains) losses still held (3) Included in earnings Included in other comprehensive income Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $— $— $— $— $— $630 $— $— $— $— $630 $— Other debt, at fair value 95 — — — — 50 — (8 ) — — 137 — Net derivatives (2) $52 $40 $— $40 $— ($10 ) $— ($25 ) $— $— $57 $20 (1) Transfers out of Level 3 during 2018 and 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 2018 and 2017 consisted primarily of certain mortgage-related securities due to a decrease in market activity and the availability of 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 December 31, 2018 and December 31, 2017, respectively. Included in these amounts are other-than temporary impairments recorded on available-for-sale securities.
Table - Quantitative Information about Recurring 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 consolidated balance sheets at fair value on a recurring basis. Table 15.3 - Quantitative Information about Recurring Level 3 Fair Value Measurements December 31, 2018 Level 3 Predominant Unobservable Inputs ( Dollars in millions , except for certain unobservable inputs as shown) Type Range Weighted Assets Available-for-sale, at fair value Mortgage-related securities Freddie Mac $2,838 Discounted cash flows OAS 30 - 325 bps 81 bps 1,259 Single external source External pricing sources $96.1 - $104.1 $102.3 Non-agency RMBS 1,403 Median of external sources External pricing sources $64.3 - $71.1 $67.3 Obligations of states and political subdivisions 237 Single external source External pricing sources $93.1 - $110.7 $100.7 Trading, at fair value Mortgage-related securities Freddie Mac 1,587 Single external source External pricing sources $0.0 - $99.2 $56.6 1,178 Discounted cash flows OAS (21,945) - 6,639 bps 90 bps 521 Other Guarantee asset, at fair value 3,391 Discounted cash flows OAS 17-198 bps 49 bps 242 Other Insignificant Level 3 assets (1) 184 Total level 3 assets 12,840 Liabilities Debt securities of consolidated trusts held by third parties, at fair value 728 Single External Source External Pricing Sources $97.4 - $101.1 $99.6 Insignificant Level 3 liabilities (1) 226 Referenced footnotes are included after the next table. December 31, 2017 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions , except for certain unobservable inputs as shown) Type Range Weighted Average Assets Available-for-sale, at fair value Mortgage-related securities Freddie Mac $5,020 Discounted cash flows OAS 27 - 501 bps 68 bps 1,731 Single external source External pricing sources $97.1 - $108.9 $108.5 Non-agency RMBS 3,933 Median of external sources External pricing sources $75.6 - $80.8 $77.7 Obligations of states and political subdivisions 357 Median of external sources External pricing sources $101.2 - $101.6 $101.4 Trading, at fair value Mortgage-related securities Freddie Mac $2,068 Single external source External pricing sources $1.2 - $101.3 $97.9 582 Discounted cash flows OAS (8,905) - 27,202 bps (88) bps 257 Other Guarantee asset, at fair value 3,171 Discounted cash flows OAS 17 - 198 bps 45 bps Insignificant Level 3 assets (1) 110 Total level 3 assets $17,229 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 Insignificant Level 3 liabilities (1) 202 (1) Represents the aggregate amount of Level 3 assets or liabilities measured at fair value on a recurring basis that are individually and in the aggregate insignificant.
Table - Asset Measured at Fair Value on a Non-Recurring Basis	The table below presents assets measured on our consolidated balance sheets at fair value on a non-recurring basis. Table 15.4 - Assets Measured at Fair Value on a Non-Recurring Basis December 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) $— $24 $7,519 $7,543 $— $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 - Fair Value Assets Measured on Nonrecurring Basis Valuation Techniques	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 consolidated balance sheets at fair value on a non-recurring basis. Table 15.5 - Quantitative Information about Non-Recurring Level 3 Fair Value Measurements December 31, 2018 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions , except for certain unobservable inputs as shown) Type Range Weighted Average Non-recurring fair value measurements Mortgage loans $7,519 Internal model Historical sales proceeds $3,000 - $750,500 $177,725 Internal model Housing sales index 44 - 480 bps 108 bps Median of external sources External pricing sources $36.2 - $94.6 $82.5 December 31, 2017 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars 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 - 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, secured lending and other, 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 fair value volatility. Table 15.6 - Fair Value of Financial Instruments December 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 $7,273 $7,273 $— $— $— $7,273 Securities purchased under agreements to resell Amortized cost 34,771 — 34,771 — — 34,771 Investments in securities: Available-for-sale, at fair value FV - OCI 33,563 — 27,788 5,775 — 33,563 Trading, at fair value FV - NI 35,548 15,885 16,369 3,294 — 35,548 Total investments in securities 69,111 15,885 44,157 9,069 — 69,111 Mortgage loans: Loans held by consolidated trusts 1,842,850 — 1,605,874 209,542 — 1,815,416 Loans held by Freddie Mac 84,128 — 33,946 52,212 — 86,158 Total mortgage loans Various (4) 1,926,978 — 1,639,820 261,754 — 1,901,574 Derivative assets, net FV - NI 335 — 6,417 1 (6,083 ) 335 Guarantee asset FV - NI 3,633 — — 3,642 — 3,642 Non-derivative purchase commitments, at fair value FV - NI 159 — 159 2 — 161 Secured lending and other Amortized cost 1,805 — 195 873 — 1,068 Total financial assets $2,044,065 $23,158 $1,725,519 $275,341 ($6,083 ) $2,017,935 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $1,792,677 $— $1,759,911 $2,698 $— $1,762,609 Other debt 252,273 — 251,543 3,629 — 255,172 Total debt, net Various (5) 2,044,950 — 2,011,454 6,327 — 2,017,781 Derivative liabilities, net FV - NI 583 — 4,336 92 (3,845 ) 583 Guarantee obligation Amortized cost 3,561 — — 4,146 — 4,146 Non-derivative purchase commitments, at fair value FV - NI 17 — 17 11 — 28 Total financial liabilities $2,049,111 $— $2,015,807 $10,576 ($3,845 ) $2,022,538 (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, 2018, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value and FV - NII were $1.9 trillion , $18.5 billion and $23.1 billion , respectively. (5) As of December 31, 2018, the GAAP carrying amounts measured at amortized cost and FV - NII were $2.0 trillion and $5.1 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 Secured lending and other 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. This table does not include interest-only securities related to debt securities of consolidated trusts held by third parties with a fair value of $26 million and $9 million and multifamily held-for-sale loan purchase commitments with a fair value of $142 million and $133 million , as of December 31, 2018 and December 31, 2017, respectively. Table 15.7 - Difference between Fair Value and Unpaid Principal Balance for Certain Financial Instruments with Fair Value Option Elected December 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 $23,106 $4,357 $728 $20,054 $5,160 $630 Unpaid principal balance 22,693 3,998 730 19,762 4,666 630 Difference $413 $359 ($2 ) $292 $494 $— The table below presents the changes in fair value included in non-interest income (loss) on our consolidated statements of comprehensive income, related to items for which we have elected the fair value option. Table 15.8 - Changes in Fair Value under the Fair Value Option Election December 31, 2018 December 31, 2017 December 31, 2016 (In millions) Gains (Losses) Multifamily held-for-sale loans (745 ) 2 250 Multifamily held-for-sale loan purchase commitments 777 1,098 663 Other debt - long term 138 (212 ) — Debt securities of consolidated trusts held by third parties 5 22 63

Regulatory Capital (Tables)

Regulatory Capital (Tables)	12 Months Ended
	Dec. 31, 2018
Mortgage Banking [Abstract]
Table - Net Worth and Minimum Capital	The table below summarizes our minimum capital requirements and deficits and net worth. Table 17.1 - Net Worth and Minimum Capital (In millions) December 31, 2018 December 31, 2017 GAAP net worth (deficit) $4,477 ($312 ) Core capital (deficit) (1)(2) (68,036 ) (73,037 ) Less: Minimum capital requirement (1) 17,553 18,431 Minimum capital surplus (deficit) (1) ($85,589 ) ($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 _2

Selected Financial Statement Line Items (Tables)	12 Months Ended
	Dec. 31, 2018
Selected Financial Statement Data [Abstract]
Table - Significant Components of Other Income (Loss)	The table below presents the significant components of other income (loss) on our consolidated statements of comprehensive income (loss). Table 18.1 - Significant Components of Other Income (Loss) Year Ended December 31, (In millions) 2018 2017 2016 Other income (loss) Non-agency mortgage-related securities settlement and judgment $338 $4,532 $— Income on guarantee obligation 711 601 449 All other (335 ) (151 ) 354 Total other income (loss) $714 $4,982 $803
Table - Significant Components of Other Assets and Other Liabilities	The table below presents the significant components of other assets and other liabilities on our consolidated balance sheets. Table 18.2 - Significant Components of Other Assets and Other Liabilities As of December 31, (In millions) 2018 2017 Other assets: Real estate owned, net $769 $892 Accounts and other receivables (1)(2) 2,447 6,924 Guarantee asset 3,633 3,171 Fixed assets 959 798 Secured lending and other (2) 1,805 1,269 All other 1,363 636 Total other assets $10,976 $13,690 Other liabilities: Servicer liabilities $289 $628 Guarantee obligation 3,561 3,081 Accounts payable and accrued expenses 1,014 754 Payables related to securities — 2,813 Income taxes payable — 656 All other 1,534 1,036 Total other liabilities $6,398 $8,968 (1) Primarily consists of servicer receivables and other non-interest receivables. (2) Current and prior period presentation has been modified to reflect certain secured lending activity. Previously this activity was included in accounts and other receivables.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in Accounting Estimate [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 0
Accounting Standards Update 2016-15
Change in Accounting Estimate [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification		$ 1,200	$ 500

Conservatorship and Related M_2

Conservatorship and Related Matters (Details)	Mar. 30, 2018USD ($)	Jun. 29, 2012USD ($)	Mar. 30, 2012USD ($)	Dec. 30, 2011USD ($)	Sep. 30, 2011USD ($)	Mar. 31, 2011USD ($)	Dec. 30, 2010USD ($)	Sep. 30, 2010USD ($)	Jun. 30, 2010USD ($)	Jun. 30, 2009USD ($)	Mar. 31, 2009USD ($)	Nov. 24, 2008USD ($)	Sep. 08, 2008USD ($)shares	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)numberofstrategicgoals	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)numberofstrategicgoals	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2018USD ($)numberofstrategicgoals	Jan. 01, 2018USD ($)
Conservatorship and related matters line items
Number of strategic goals | numberofstrategicgoals															3				3				3
Applicable capital reserve amount															$ 3,000,000,000				$ 3,000,000,000				$ 3,000,000,000	$ 3,000,000,000
Applicable capital reserve amount if we don't pay the full dividend requirement in a future period															0				0				0
Remaining funding available under Purchase Agreement															$ 140,200,000,000				$ 140,200,000,000				$ 140,200,000,000
Initial liquidation preference of senior preferred stock													$ 1,000,000,000
Common stock warrant, percentage of common stock shares that can be purchased															79.90%				79.90%				79.90%
Cash Proceeds Received Upon Issuing The Senior Preferred Stock															$ 0				$ 0				$ 0
Increase in liquidation preference															0				312,000,000
Increase in Senior Preferred Stock																				$ 3,000,000,000
Aggregate liquidation preference on senior preferred stock															75,648,000,000				75,648,000,000	75,336,000,000			75,648,000,000
Maximum limit of the UPB of mortgage-related investments portfolio															250,000,000,000				250,000,000,000			$ 650,000,000,000	250,000,000,000
Allowance of non-ordinary course asset sales															$ 250,000,000				$ 250,000,000				$ 250,000,000
Annual maximum percentage of mortgage-related investments portfolio Limit															85.00%				85.00%				85.00%
Maximum percentage of annual cap established by the Purchase Agreement															90.00%				90.00%				90.00%
Debt limit as percentage of mortgage assets															120.00%				120.00%				120.00%
UPB of mortgage-related investments portfolio															$ 218,100,000,000				$ 218,100,000,000				$ 218,100,000,000
Aggregate dividend payments since conservatorship began															$ 116,500,000,000				$ 116,500,000,000				$ 116,500,000,000
Basis points of each dollar of new business purchases required by GSE Act.															0.042%				0.042%				0.042%
Payment For Cash Dividends On Senior Preferred Stock															$ 2,600,000,000	$ 1,600,000,000	$ 0	$ 0	$ 4,145,000,000	10,945,000,000	$ 4,983,000,000
Subsequent Event
Conservatorship and related matters line items
Maximum limit of the UPB of mortgage-related investments portfolio														$ 225,000,000,000
Payment For Cash Dividends On Senior Preferred Stock														$ 1,500,000,000
U.S. Government
Conservatorship and related matters line items
Amount of related party transaction																			0	$ 0	$ 0
CSS
Conservatorship and related matters line items
Amount of related party transaction																			135,000,000				$ 464,000,000
Senior Preferred Stock
Conservatorship and related matters line items
Senior preferred stock, shares issued | shares													1,000,000
Initial liquidation preference of senior preferred stock													$ 1,000,000,000
Senior Preferred Stock, Dividend Rate																						10.00%
Increase in liquidation preference	$ 312,000,000	$ 19,000,000	$ 146,000,000	$ 5,992,000,000	$ 1,479,000,000	$ 500,000,000	$ 100,000,000	$ 1,800,000,000	$ 10,600,000,000	$ 6,100,000,000	$ 30,800,000,000	$ 13,800,000,000
Increase in Senior Preferred Stock															3,000,000,000				3,000,000,000				3,000,000,000
Aggregate liquidation preference on senior preferred stock															$ 75,648,000,000				$ 75,648,000,000				$ 75,648,000,000

Securitization Activities and_3

Securitization Activities and Consolidation (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Senior Subordinate Securitization Products [Member]
Variable Interest Entity [Line Items]
Consolidated UPB of VIE	$ 26.1	$ 3.6
PC Trusts
Variable Interest Entity [Line Items]
Consolidated UPB of VIE	1,800	1,800
UPB of Issuances and Guarantees	310.9	347.7
Other Securitization Trust | Other Securitization Products | Single-family Guarantee
Variable Interest Entity [Line Items]
Consolidated UPB of VIE	3.4	4.1
Other Securitization Trust | Other Securitization Products | Multifamily
Variable Interest Entity [Line Items]
Consolidated UPB of VIE	5	4.4
Variable Interest Entity, Not Primary Beneficiary | K Certificates
Variable Interest Entity [Line Items]
UPB of Issuances and Guarantees	52.2	48.5
Variable Interest Entity, Not Primary Beneficiary | SB Certificate
Variable Interest Entity [Line Items]
UPB of Issuances and Guarantees	6.3	4.9
Variable Interest Entity, Not Primary Beneficiary | Senior Subordinate Securitization Products [Member]
Variable Interest Entity [Line Items]
UPB of Issuances and Guarantees	8.4	6.8
Variable Interest Entity, Not Primary Beneficiary | Other Securitization Products | Multifamily
Variable Interest Entity [Line Items]
UPB of Issuances and Guarantees	$ 3.4	$ 5.6

Securitization Activities and_4

Securitization Activities and Consolidation - Consolidated VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Variable Interest Entity, Consolidated, Carrying Amount, Assets [Abstract]
Cash and cash equivalents	$ 7,273	$ 9,811	$ 22,220	$ 20,128
Restricted cash and cash equivalents	596	2,963
Securities purchased under agreements to resell (Notes 3, 10)	34,771	55,903
Mortgage loans held-for-investment	1,885,356	1,836,454
Accrued interest receivable	6,728	6,355
Other assets	10,976	13,690
Total assets	2,063,060	2,049,776
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities [Abstract]
Accrued interest payable	6,652	6,221
Debt, net	2,044,950	2,034,630
Other Liabilities	6,398	8,968
Total liabilities	2,058,583	2,050,088
Held by consolidated trusts
Variable Interest Entity, Consolidated, Carrying Amount, Assets [Abstract]
Cash and cash equivalents	567	518
Restricted cash and cash equivalents	566	518
Securities purchased under agreements to resell (Notes 3, 10)	12,125	16,750
Mortgage loans held-for-investment	1,842,850	1,774,286
Accrued interest receivable	5,914	5,747
Other assets	1,631	2,738
Total assets	1,863,087	1,800,039
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities [Abstract]
Accrued interest payable	5,335	5,028
Debt, net	1,792,677	1,720,996
Other Liabilities	0	2
Total liabilities	$ 1,798,012	$ 1,726,026

Securitization Activities and_5

Securitization Activities and Consolidation - Non-Consolidated VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Assets [Abstract]
Investments in securities, at fair value	$ 69,111	$ 84,318
Accrued interest receivable	6,728	6,355
Derivative Assets, net	335	375
Other Assets	10,976	13,690
Liabilities [Abstract]
Derivative liability, net	583	269
Other Liabilities	6,398	8,968
Variable Interest Entity, Not Primary Beneficiary
Assets [Abstract]
Investments in securities, at fair value	44,020	51,494
Accrued interest receivable	235	233
Derivative Assets, net	1	7
Other Assets	3,119	2,591
Liabilities [Abstract]
Derivative liability, net	88	0
Other Liabilities	3,049	2,489
Maximum Exposure to Loss	241,055	200,196
Total Assets of Non-Consolidated VIEs	$ 284,724	$ 232,762

Mortgage Loans and Loan Loss _3

Mortgage Loans and Loan Loss Reserves (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)numberofloans	Dec. 31, 2017USD ($)numberofloans	Dec. 31, 2016USD ($)
Accounts, Notes, Loans and Financing Receivables [Line Items]
Noncash acquisition, mortgage loans held-for-investment acquired	$ 164,000	$ 229,200	$ 234,600
Transfers from advances to lenders to loans HFI	25,800	35,900	30,300
REO acquired in non-cash transfer	$ 1,000	$ 1,100	$ 1,500
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	6.60%	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	8,488	7,090
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 1,000	$ 900
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
SF UPB removed from Consolidated Trust	$ 7,800	$ 6,300
Number of Loans, Modifications, Subsequent Default | numberofloans	15,467	16,172
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 2,115	$ 2,574
Interest rate reduction and term extension types, percentage of completed modifications	12.00%	37.00%
Principal forebearance and interest rate reductions and term extension types, percentage of completed modifications	24.00%	14.00%
Average term extension, number of months of completed modifications	132 months	176 months
Average interest rate reduction, percentage of completed modifications	0.20%	0.60%
Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
Number of Loans, Modifications, Subsequent Default | numberofloans	0	0
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 0	$ 0

Mortgage Loans and Loan Loss _4

Mortgage Loans and Loan Loss Reserves - Mortgage Loans (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	$ 44,905	$ 37,576
Cost basis and fair value adjustments, net HFS	(3,283)	(2,813)
Total held-for-sale loans, net	41,622	34,763
UPB of mortgage loans - HFI	1,864,941	1,816,078
Cost basis adjustment HFI	26,554	29,342
Allowance for loan losses on mortgage loans held-for-investment	(6,139)	(8,966)
Total held-for-investment mortgage loans, net	1,885,356	1,836,454
Total loans, net	1,926,978	1,871,217
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	20,946	17,039
UPB of mortgage loans - HFI	1,849,893	1,794,629
Allowance for loan losses on mortgage loans held-for-investment	(6,130)	(8,931)
Total held-for-investment mortgage loans, net	1,870,335	1,815,056
Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	23,959	20,537
UPB of mortgage loans - HFI	15,048	21,449
Allowance for loan losses on mortgage loans held-for-investment	(9)	(35)
Total held-for-investment mortgage loans, net	15,021	21,398
Held by Freddie Mac
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	44,905	37,576
Cost basis and fair value adjustments, net HFS	(3,283)	(2,813)
Total held-for-sale loans, net	41,622	34,763
UPB of mortgage loans - HFI	46,713	69,595
Cost basis adjustment HFI	(1,198)	(2,148)
Allowance for loan losses on mortgage loans held-for-investment	(3,009)	(5,279)
Total held-for-investment mortgage loans, net	42,506	62,168
Total loans, net	84,128	96,931
Held by Freddie Mac | Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	20,946	17,039
UPB of mortgage loans - HFI	35,885	51,893
Held by Freddie Mac | Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	23,959	20,537
UPB of mortgage loans - HFI	10,828	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	1,818,228	1,746,483
Cost basis adjustment HFI	27,752	31,490
Allowance for loan losses on mortgage loans held-for-investment	(3,130)	(3,687)
Total held-for-investment mortgage loans, net	1,842,850	1,774,286
Total loans, net	1,842,850	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	1,814,008	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	$ 4,220	$ 3,747

Mortgage Loans and Loan Loss _5

Mortgage Loans and Loan Loss Reserves - Loans Purchased, Reclassified from Held-for-Investment to Held-for-Sale and Sold (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Single-family | Held-for-Investment
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Significant Purchases	$ 307.7	$ 343
Financing Receivable, Reclassification to Held-for-sale	21.7	26.2
Single-family | Held-for-Sale
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Significant Sales	10.2	8.7
Multifamily | Held-for-Investment
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Significant Purchases	5	5.3
Financing Receivable, Reclassification to Held-for-sale	1.8	1.6
Multifamily | Held-for-Sale
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Significant Purchases	70.3	64.6
Financing Receivable, Significant Sales	$ 68.1	$ 61.9

Mortgage Loans and Loan Loss _6

Mortgage Loans and Loan Loss Reserves - Recorded Investment of Held-For-Investment Mortgage Loans, by LTV Ratio (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,891,495	$ 1,845,420
Single-Family serious delinquency rate	0.69%	1.08%
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,557,667	$ 1,467,704
Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	255,831	277,998
Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	44,007	51,587
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	18,960	26,698
Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,876,465	$ 1,823,987
Single-Family serious delinquency rate	0.69%	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	$ 1,336,310	$ 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	251,152	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	42,117	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	16,498	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	1,646,077	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	214,703	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	4,522	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	1,883	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	1,903	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	223,011	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	6,654	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	157	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	7	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	559	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	$ 7,377	$ 15,141
Single-Family serious delinquency rate	7.24%	8.43%

Mortgage Loans and Loan Loss _7

Mortgage Loans and Loan Loss Reserves - Recorded Investment of Multifamily Mortgage Loans, by Credit Classification (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,891,495	$ 1,845,420
Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	15,030	21,433
Pass | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	14,648	20,963
Special Mention | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	201	301
Substandard | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	181	169
Doubtful | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 0	$ 0

Mortgage Loans and Loan Loss _8

Mortgage Loans and Loan Loss Reserves - Payment Status of Mortgage Loans (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 1,862,429	$ 1,802,770
Total recorded investment	1,891,495	1,845,420
Non-Accrual	8,138	14,882
Mortgage Loans in Process of Foreclosure, Amount	2,900	4,100
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,532,499	1,431,342
Total recorded investment	1,557,667	1,467,704
Non-Accrual	6,881	12,401
Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	254,376	275,864
Total recorded investment	255,831	277,998
Non-Accrual	263	556
Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	43,549	50,915
Total recorded investment	44,007	51,587
Non-Accrual	113	205
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	16,975	23,235
Total recorded investment	18,960	26,698
Non-Accrual	864	1,656
Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,847,399	1,781,356
Total recorded investment	1,876,465	1,823,987
Non-Accrual	8,121	14,818
Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	15,030	21,414
Total recorded investment	15,030	21,433
Non-Accrual	17	64
One month past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	16,784	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	14,683	18,297
One month past due | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	1,021	1,288
One month past due | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	287	383
One month past due | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	793	1,297
One month past due | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	16,784	21,265
One month past due | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	0	0
Two months past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	4,158	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	3,602	5,660
Two months past due | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	171	290
Two months past due | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	58	84
Two months past due | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	327	509
Two months past due | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	4,158	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	8,124	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	6,883	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	263	556
Three months or more past due or in foreclosure | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	113	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	865	1,657
Three months or more past due or in foreclosure | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	8,124	14,823
Three months or more past due or in foreclosure | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	$ 0	$ 19

Mortgage Loans and Loan Loss _9

Mortgage Loans and Loan Loss Reserves - Delinquency Rates (Details) $ in Millions	Dec. 31, 2018USD ($)numberofloans	Dec. 31, 2017USD ($)numberofloans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.69%	1.08%
Delinquency Rate	0.01%	0.02%
Single-family
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.69%	1.08%
Total number of seriously delinquent loans	75,649	116,662
Single-family | Non-credit-enhanced portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.83%	1.16%
Total number of seriously delinquent loans	51,197	81,668
Single-family | Credit-enhanced portfolio | Primary mortgage insurance
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.86%	1.43%
Total number of seriously delinquent loans	15,287	23,275
Single-family | Credit-enhanced portfolio | Other credit protection
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.31%	0.53%
Total number of seriously delinquent loans	12,920	16,259
Multifamily
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Delinquency Rate	0.01%	0.02%
UPB of delinquent loans | $	$ 30	$ 40
Multifamily | Non-credit-enhanced portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Delinquency Rate	0.00%	0.06%
UPB of delinquent loans | $	$ 2	$ 24
Multifamily | Credit-enhanced portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Delinquency Rate	0.01%	0.01%
UPB of delinquent loans | $	$ 28	$ 16

Mortgage Loans and Loan Loss_10

Mortgage Loans and Loan Loss Reserves - Detail of Loan Loss Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Rollforward of Allowance for Loan Losses
Beginning balance	$ 9,023	$ 13,498
Provision (benefit) for credit losses	(736)	(84)
Charge-offs	(2,893)	(5,055)
Recoveries	478	425
Transfers, net	0	0
Other	319	239
Ending balance	6,191	9,023
Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Beginning balance	57	67
Provision (benefit) for credit losses	3	(6)
Charge-offs	(8)	(4)
Recoveries	0	0
Transfers, net	0	0
Other	0	0
Ending balance	52	57
Held by Freddie Mac | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	5,279	10,461
Provision (benefit) for credit losses	(884)	(1,432)
Charge-offs	(2,829)	(4,943)
Recoveries	470	419
Transfers, net	680	539
Other	293	235
Ending balance	3,009	5,279
Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	3,687	2,970
Provision (benefit) for credit losses	145	1,354
Charge-offs	(56)	(108)
Recoveries	8	6
Transfers, net	(680)	(539)
Other	26	4
Ending balance	3,130	3,687
Single-family
Rollforward of Allowance for Loan Losses
Beginning balance	8,979	13,463
Provision (benefit) for credit losses	(712)	(97)
Charge-offs	(2,885)	(5,051)
Recoveries	475	425
Transfers, net	0	0
Other	319	239
Ending balance	6,176	8,979
Single-family | Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Beginning balance	48	52
Provision (benefit) for credit losses	4	0
Charge-offs	(6)	(4)
Recoveries	0	0
Transfers, net	0	0
Other	0	0
Ending balance	46	48
Single-family | Held by Freddie Mac | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	5,251	10,443
Provision (benefit) for credit losses	(861)	(1,447)
Charge-offs	(2,823)	(4,939)
Recoveries	467	419
Transfers, net	676	540
Other	293	235
Ending balance	3,003	5,251
Single-family | Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	3,680	2,968
Provision (benefit) for credit losses	145	1,350
Charge-offs	(56)	(108)
Recoveries	8	6
Transfers, net	(676)	(540)
Other	26	4
Ending balance	3,127	3,680
Multifamily
Rollforward of Allowance for Loan Losses
Beginning balance	44	35
Provision (benefit) for credit losses	(24)	13
Charge-offs	(8)	(4)
Recoveries	3	0
Transfers, net	0	0
Other	0	0
Ending balance	15	44
Multifamily | Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Beginning balance	9	15
Provision (benefit) for credit losses	(1)	(6)
Charge-offs	(2)	0
Recoveries	0	0
Transfers, net	0	0
Other	0	0
Ending balance	6	9
Multifamily | Held by Freddie Mac | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	28	18
Provision (benefit) for credit losses	(23)	15
Charge-offs	(6)	(4)
Recoveries	3	0
Transfers, net	4	(1)
Other	0	0
Ending balance	6	28
Multifamily | Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	7	2
Provision (benefit) for credit losses	0	4
Charge-offs	0	0
Recoveries	0	0
Transfers, net	(4)	1
Other	0	0
Ending balance	$ 3	$ 7

Mortgage Loans and Loan Loss_11

Mortgage Loans and Loan Loss Reserves - TDR Activity, By Segment (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)numberofloans	Dec. 31, 2017USD ($)numberofloans
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	43,742	33,745
Post TDR Recorded Investments	$ 7,084	$ 4,818
Single-family 15-year amortizing fixed-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	5,944	4,569
Post TDR Recorded Investments	$ 584	$ 356
Single-family Adjustable-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	902	892
Post TDR Recorded Investments	$ 140	$ 128
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	2,602	2,784
Post TDR Recorded Investments	$ 432	$ 495
Single-family
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	53,190	41,990
Post TDR Recorded Investments	$ 8,240	$ 5,797
Pre-TDR Recorded Investments	$ 8,300	$ 5,800
Multifamily
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	1	1
Post TDR Recorded Investments	$ 15	$ 0

Mortgage Loans and Loan Loss_12

Mortgage Loans and Loan Loss Reserves - Payment Defaults of Completed TDR Modifications, by Segment (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)numberofloans	Dec. 31, 2017USD ($)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	13,548	13,973
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 1,847	$ 2,231
Single-family 15-year amortizing fixed-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	565	720
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 44	$ 57
Single-family Adjustable-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	176	225
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 25	$ 33
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	1,178	1,254
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 199	$ 253
Single-family
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	15,467	16,172
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 2,115	$ 2,574
Multifamily
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	0	0
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 0	$ 0

Mortgage Loans and Loan Loss_13

Mortgage Loans and Loan Loss Reserves - Individially Impaired Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Individually Impaired Mortgage Loans [Abstract]
UPB	$ 48,276	$ 62,038
Recorded Investment	46,506	59,369
Associated Allowance	(4,369)	(6,637)
Average Recorded Investment	55,906	57,958
Interest Income Recognized	2,918	3,463
Interest Income Recognized On Cash Basis	339	315
Single-family 20 and 30-year or more, amortizing fixed-rate
With no specific allowance recorded [Abstract]
UPB	3,335	3,768
Recorded Investment	2,666	2,908
Average Recorded Investment	3,236	3,556
Interest Income Recognized	346	399
Interest Income Recognized On Cash Basis	16	16
With specific allowance recorded [Abstract]
UPB	37,579	47,897
Recorded Investment	36,959	46,783
Average Recorded Investment	44,055	44,057
Interest Income Recognized	2,156	2,513
Interest Income Recognized On Cash Basis	274	248
Individually Impaired Mortgage Loans [Abstract]
UPB	40,914	51,665
Recorded Investment	39,625	49,691
Associated Allowance	(3,660)	(5,505)
Average Recorded Investment	47,291	47,613
Interest Income Recognized	2,502	2,912
Interest Income Recognized On Cash Basis	290	264
Single-family 15-year amortizing fixed-rate
With no specific allowance recorded [Abstract]
UPB	23	24
Recorded Investment	22	21
Average Recorded Investment	21	25
Interest Income Recognized	3	1
Interest Income Recognized On Cash Basis	0	0
With specific allowance recorded [Abstract]
UPB	703	752
Recorded Investment	713	757
Average Recorded Investment	798	599
Interest Income Recognized	28	32
Interest Income Recognized On Cash Basis	9	6
Individually Impaired Mortgage Loans [Abstract]
UPB	726	776
Recorded Investment	735	778
Associated Allowance	(19)	(24)
Average Recorded Investment	819	624
Interest Income Recognized	31	33
Interest Income Recognized On Cash Basis	9	6
Single-family Adjustable-rate
With no specific allowance recorded [Abstract]
UPB	227	259
Recorded Investment	226	256
Average Recorded Investment	248	292
Interest Income Recognized	12	11
Interest Income Recognized On Cash Basis	1	0
With specific allowance recorded [Abstract]
UPB	164	232
Recorded Investment	162	228
Average Recorded Investment	197	261
Interest Income Recognized	6	9
Interest Income Recognized On Cash Basis	3	3
Individually Impaired Mortgage Loans [Abstract]
UPB	391	491
Recorded Investment	388	484
Associated Allowance	(8)	(14)
Average Recorded Investment	445	553
Interest Income Recognized	18	20
Interest Income Recognized On Cash Basis	4	3
Single-family Alt-A, interest-only, and option ARM
With no specific allowance recorded [Abstract]
UPB	1,286	1,558
Recorded Investment	1,083	1,297
Average Recorded Investment	1,264	1,471
Interest Income Recognized	88	110
Interest Income Recognized On Cash Basis	4	5
With specific allowance recorded [Abstract]
UPB	4,867	7,407
Recorded Investment	4,590	6,987
Average Recorded Investment	5,953	7,366
Interest Income Recognized	273	378
Interest Income Recognized On Cash Basis	30	33
Individually Impaired Mortgage Loans [Abstract]
UPB	6,153	8,965
Recorded Investment	5,673	8,284
Associated Allowance	(682)	(1,087)
Average Recorded Investment	7,217	8,837
Interest Income Recognized	361	488
Interest Income Recognized On Cash Basis	34	38
Single-family
With no specific allowance recorded [Abstract]
UPB	4,871	5,609
Recorded Investment	3,997	4,482
Average Recorded Investment	4,769	5,344
Interest Income Recognized	449	521
Interest Income Recognized On Cash Basis	21	21
With specific allowance recorded [Abstract]
UPB	43,313	56,288
Recorded Investment	42,424	54,755
Average Recorded Investment	51,003	52,283
Interest Income Recognized	2,463	2,932
Interest Income Recognized On Cash Basis	316	290
Individually Impaired Mortgage Loans [Abstract]
UPB	48,184	61,897
Recorded Investment	46,421	59,237
Associated Allowance	(4,369)	(6,630)
Average Recorded Investment	55,772	57,627
Interest Income Recognized	2,912	3,453
Interest Income Recognized On Cash Basis	337	311
Multifamily
With no specific allowance recorded [Abstract]
UPB	89	106
Recorded Investment	82	97
Average Recorded Investment	131	286
Interest Income Recognized	6	9
Interest Income Recognized On Cash Basis	2	3
With specific allowance recorded [Abstract]
UPB	3	35
Recorded Investment	3	35
Average Recorded Investment	3	45
Interest Income Recognized	0	1
Interest Income Recognized On Cash Basis	0	1
Individually Impaired Mortgage Loans [Abstract]
UPB	92	141
Recorded Investment	85	132
Associated Allowance	0	(7)
Average Recorded Investment	134	331
Interest Income Recognized	6	10
Interest Income Recognized On Cash Basis	$ 2	$ 4

Mortgage Loans and Loan Loss_14

Mortgage Loans and Loan Loss Reserves - Net Investment in Mortgage Loans (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	$ 1,844,989	$ 1,786,051
Recorded investment, individually evaluated	46,506	59,369
Total recorded investment	1,891,495	1,845,420
Allowance for loan losses, collectively evaluated	(1,770)	(2,329)
Allowance for loan losses, individually evaluated	(4,369)	(6,637)
Total ending balance of the allowance	(6,139)	(8,966)
Total held-for-investment mortgage loans, net	1,885,356	1,836,454
Single-family
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	1,830,044	1,764,750
Recorded investment, individually evaluated	46,421	59,237
Total recorded investment	1,876,465	1,823,987
Allowance for loan losses, collectively evaluated	(1,761)	(2,301)
Allowance for loan losses, individually evaluated	(4,369)	(6,630)
Total ending balance of the allowance	(6,130)	(8,931)
Total held-for-investment mortgage loans, net	1,870,335	1,815,056
Multifamily
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	14,945	21,301
Recorded investment, individually evaluated	85	132
Total recorded investment	15,030	21,433
Allowance for loan losses, collectively evaluated	(9)	(28)
Allowance for loan losses, individually evaluated	0	(7)
Total ending balance of the allowance	(9)	(35)
Total held-for-investment mortgage loans, net	$ 15,021	$ 21,398

Guaranee Activities (Details)

Guaranee Activities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Guarantor Obligations [Line Items]
Cash advances related to multifamily liquidity guarantees	$ 0	$ 0
Single-family long-term standby commitments
Guarantor Obligations [Line Items]
UPB of issuances and guarantees	500,000,000	500,000,000
Multifamily housing revenue bonds
Guarantor Obligations [Line Items]
UPB of issuances and guarantees	$ 600,000,000	$ 1,100,000,000

Guarantee Activities - Financia

Guarantee Activities - Financial Guarantees (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Guarantor Obligations [Line Items]
Recognized Liability	$ 3,561	$ 3,081
Reserve for guarantee losses	6,191	9,023	$ 13,498
Payment Guarantee
Guarantor Obligations [Line Items]
Maximum Exposure	16,251	9,661
Recognized Liability	$ 242	$ 141
Maximum Remaining Term	30 years	28 years
Single-family
Guarantor Obligations [Line Items]
Maximum Exposure	$ 23,922	$ 17,081
Recognized Liability	387	310
Reserve for guarantee losses	6,176	8,979	13,463
Single-family | Securitization activity guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	17,783	10,817
Recognized Liability	$ 220	$ 120
Maximum Remaining Term	40 years	40 years
Single-family | Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 6,139	$ 6,264
Recognized Liability	$ 167	$ 190
Maximum Remaining Term	30 years	31 years
Multifamily
Guarantor Obligations [Line Items]
Maximum Exposure	$ 231,024	$ 198,656
Recognized Liability	3,174	2,771
Reserve for guarantee losses	15	44	35
Multifamily | Securitization activity guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	221,245	188,768
Recognized Liability	$ 2,746	$ 2,305
Maximum Remaining Term	40 years	40 years
Multifamily | Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 9,779	$ 9,888
Recognized Liability	$ 428	$ 466
Maximum Remaining Term	35 years	36 years
Reserve for guarantee losses
Guarantor Obligations [Line Items]
Reserve for guarantee losses	$ 52	$ 57	67
Reserve for guarantee losses | Single-family
Guarantor Obligations [Line Items]
Reserve for guarantee losses	46	48	52
Reserve for guarantee losses | Multifamily
Guarantor Obligations [Line Items]
Reserve for guarantee losses	$ 6	$ 9	$ 15

Credit Enhancements - Mortgage

Credit Enhancements - Mortgage Loan Credit Enhancements (Details) - Single-family - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
ACIS transactions
Credit Enhancement [Line Items]
Collateral posted by counterparties on ACIS transactions	$ 1,500	$ 1,100
Mortgage loan credit enhancements
Credit Enhancement [Line Items]
Maximum coverage	116,534	97,254
Mortgage loan credit enhancements | Primary mortgage insurance
Credit Enhancement [Line Items]
Total current and protected UPB	378,594	334,189
Maximum coverage	96,996	85,429
Mortgage loan credit enhancements | ACIS transactions
Credit Enhancement [Line Items]
Total current and protected UPB	807,885	625,082
Maximum coverage	9,123	6,933
Mortgage loan credit enhancements | STACR Trust transactions
Credit Enhancement [Line Items]
Total current and protected UPB	161,152	0
Maximum coverage	5,026	0
Mortgage loan credit enhancements | Other
Credit Enhancement [Line Items]
Total current and protected UPB	18,136	7,233
Maximum coverage	$ 5,389	$ 4,892

Credit Enhancements - Guarantee

Credit Enhancements - Guarantee Credit Enhancements (Details) - Guarantee credit enhancements - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Credit Enhancement [Line Items]
Maximum coverage	$ 40,635	$ 34,539
Single-family
Credit Enhancement [Line Items]
Maximum coverage	4,159	3,124
Single-family | Non-consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	16,271	8,953
Maximum coverage	2,933	1,734
Single-family | Other
Credit Enhancement [Line Items]
Total current and protected UPB	1,226	1,390
Maximum coverage	1,226	1,390
Multifamily
Credit Enhancement [Line Items]
Maximum coverage	36,476	31,415
Multifamily | Non-consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	220,733	187,299
Maximum coverage	35,661	30,689
Multifamily | Other
Credit Enhancement [Line Items]
Total current and protected UPB	2,349	1,833
Maximum coverage	$ 815	$ 726

Credit Enhancements - Debt with

Credit Enhancements - Debt with Embedded Credit Enhancements (Details) - Debt with Embedded Credit Enhancements - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Credit Enhancement [Line Items]
Maximum coverage	$ 19,045	$ 18,284
Single-family
Credit Enhancement [Line Items]
Maximum coverage	18,632	17,967
Single-family | Consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	25,006	3,330
Maximum coverage	1,036	179
Single-family | STACR debt notes
Credit Enhancement [Line Items]
Total current and protected UPB	605,263	604,356
Maximum coverage	17,596	17,788
Multifamily
Credit Enhancement [Line Items]
Maximum coverage	413	317
Multifamily | Consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	2,700	1,800
Maximum coverage	280	180
Multifamily | SCR notes
Credit Enhancement [Line Items]
Total current and protected UPB	2,667	2,732
Maximum coverage	$ 133	$ 137

Investments in Securities (Deta

Investments in Securities (Details)	12 Months Ended
	Dec. 31, 2018USD ($)numberofsecurities	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Held-to-maturity securities	$ 0	$ 0
Net unrealized gains (losses) on trading securities held at balance sheets date	(479,000,000)	(365,000,000)	$ (791,000,000)
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	29,100,000,000
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value	3,800,000,000
Total gross unrealized losses	$ 500,000,000
Separate securities in gross unrealized loss position | numberofsecurities	350
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 800,000,000	1,100,000,000	4,100,000,000
Net impairment of available-for-sale securities recognized in earnings	12,000,000	18,000,000	191,000,000
Transfer to Investments	$ 100,000,000	$ 3,800,000,000	$ 0

Investments in Securities - Inv

Investments in Securities - Investments in Securities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Trading Securities	$ 35,548	$ 40,721
Available-for-sale, at fair value	33,563	43,597
Total	$ 69,111	$ 84,318

Investments in Securities - Tra

Investments in Securities - Trading Securities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Trading Securities [Line Items]
Trading, at fair value	$ 35,548	$ 40,721
Mortage-related securities
Trading Securities [Line Items]
Trading, at fair value	16,373	17,902
Freddie Mac
Trading Securities [Line Items]
Trading, at fair value	13,821	14,300
Other agency
Trading Securities [Line Items]
Trading, at fair value	2,551	3,574
Non-agency RMBS
Trading Securities [Line Items]
Trading, at fair value	1	1
Non-agency CMBS
Trading Securities [Line Items]
Trading, at fair value	0	27
Non-mortgage-related securities
Trading Securities [Line Items]
Trading, at fair value	$ 19,175	$ 22,819

Investments in Securities - Ava

Investments in Securities - Available-For-Sale Securities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 33,460	$ 42,578
Gross Unrealized Gains	640	1,509
Available-for-sale, at fair value	33,563	43,597
Freddie Mac
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	30,407	37,109
Gross Unrealized Gains	320	521
Available-for-sale, at fair value	30,199	37,166
Other agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,675	2,008
Gross Unrealized Gains	38	56
Available-for-sale, at fair value	1,706	2,053
Non-agency RMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,124	3,012
Gross Unrealized Gains	280	927
Available-for-sale, at fair value	1,403	3,933
Non-agency CMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	18	97
Gross Unrealized Gains	0	0
Available-for-sale, at fair value	18	88
Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	236	352
Gross Unrealized Gains	2	5
Available-for-sale, at fair value	237	357
Other-than-temporary impairment
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	(14)
Other-than-temporary impairment | Freddie Mac
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	0
Other-than-temporary impairment | Other agency
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	0
Other-than-temporary impairment | Non-agency RMBS
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	(5)
Other-than-temporary impairment | Non-agency CMBS
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	(9)
Other-than-temporary impairment | Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	0
Temporary impairment
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(537)	(476)
Temporary impairment | Freddie Mac
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(528)	(464)
Temporary impairment | Other agency
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(7)	(11)
Temporary impairment | Non-agency RMBS
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(1)	(1)
Temporary impairment | Non-agency CMBS
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	0
Temporary impairment | Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	$ (1)	$ 0

Investments in Securities - A_2

Investments in Securities - Available-For-Sale Securities in a Gross Unrealized Loss Position (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	$ 4,653	$ 11,420
Less than 12 Months Gross Unrealized Losses	(40)	(109)
12 Months or Greater Fair Value	15,395	10,508
12 Months or Greater Gross Unrealized Losses	(497)	(381)
Freddie Mac
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	4,259	11,329
Less than 12 Months Gross Unrealized Losses	(38)	(109)
12 Months or Greater Fair Value	14,751	9,251
12 Months or Greater Gross Unrealized Losses	(490)	(355)
Other agency
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	351	40
Less than 12 Months Gross Unrealized Losses	(1)	0
12 Months or Greater Fair Value	638	1,079
12 Months or Greater Gross Unrealized Losses	(6)	(11)
Non-agency RMBS
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	0	5
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Fair Value	5	105
12 Months or Greater Gross Unrealized Losses	(1)	(6)
Non-agency CMBS
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	0	34
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Fair Value	0	52
12 Months or Greater Gross Unrealized Losses	0	(9)
Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	43	12
Less than 12 Months Gross Unrealized Losses	(1)	0
12 Months or Greater Fair Value	1	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	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 627	$ 1,792	$ 1,062
Net realized gains (losses)	(303)	(66)	(91)
Gross realized losses	$ 324	$ 1,726	$ 971

Debt Securities and Subordina_3

Debt Securities and Subordinated Borrowings (Details) $ in Billions	Dec. 31, 2018USD ($)
Debt Disclosure [Abstract]
Debt limit as percentage of mortgage assets	120.00%
Debt cap under Purchase Agreement for the current year	$ 346.1
Debt cap under Purchase Agreement for the following year	300
Debt cap aggregate indebtedness	$ 255.7

Debt Securities and Subordina_4

Debt Securities and Subordinated Borrowings - Total Debt, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 800	$ 1,100	$ 4,100
Debt Net [Abstract]
Long-term Debt Balance, Net	1,993,870
Total Debt, Net	2,044,950	2,034,630
Interest Expense [Abstract]
Interest Expense, Total	58,033	53,643	50,786
Held by consolidated trusts
Debt Net [Abstract]
Total Debt, Net	1,792,677	1,720,996
Interest Expense [Abstract]
Interest Expense, Total	51,529	47,656	44,599
Held by Freddie Mac
Debt Net [Abstract]
Short-term Debt Balance Net	51,080	73,069
Long-term Debt Balance, Net	201,193	240,565
Total Debt, Net	252,273	313,634
Interest Expense [Abstract]
Interest Expense, Short-term Borrowings	1,193	615	350
Interest Expense, Long-term Debt	5,311	5,372	5,837
Interest Expense, Total	$ 6,504	$ 5,987	$ 6,187

Debt Securities and Subordina_5

Debt Securities and Subordinated Borrowings - Debt Securities of Consolidated Trusts Held by Third Parties (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt, Net	$ 2,044,950	$ 2,034,630
Debt securities recorded at fair value	5,112	5,799
Held by consolidated trusts
Debt Instrument [Line Items]
UPB	1,748,738	1,672,605
Debt, Net	$ 1,792,677	$ 1,720,996
Effective rate for debt securities of consolidated trusts held by third parties	3.07%	2.84%
Debt securities recorded at fair value	$ 755	$ 639
Held by consolidated trusts | Single-family
Debt Instrument [Line Items]
UPB	1,744,373	1,668,729
Debt, Net	1,788,276	1,717,078
Held by consolidated trusts | Multifamily
Debt Instrument [Line Items]
UPB	4,365	3,876
Debt, Net	$ 4,401	$ 3,918
Weighted Average Coupon	4.02%	3.99%
Held by consolidated trusts | Single-family 30-year or more, fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 1,389,113	$ 1,278,911
Debt, Net	$ 1,426,060	$ 1,318,350
Weighted Average Coupon	3.72%	3.68%
Held by consolidated trusts | Single-family 20-year fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 70,547	$ 73,866
Debt, Net	$ 72,354	$ 76,022
Weighted Average Coupon	3.43%	3.43%
Held by consolidated trusts | Single-family 15-year fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 240,310	$ 260,633
Debt, Net	$ 244,587	$ 266,241
Weighted Average Coupon	2.89%	2.86%
Held by consolidated trusts | Single-family Adjustable-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 38,361	$ 47,169
Debt, Net	$ 39,153	$ 48,220
Weighted Average Coupon	3.12%	2.85%
Held by consolidated trusts | Single-family Interest-only | Single-family
Debt Instrument [Line Items]
UPB	$ 5,322	$ 7,303
Debt, Net	$ 5,386	$ 7,379
Weighted Average Coupon	4.41%	3.74%
Held by consolidated trusts | FHA/VA | Single-family
Debt Instrument [Line Items]
UPB	$ 720	$ 847
Debt, Net	$ 736	$ 866
Weighted Average Coupon	4.78%	4.85%

Debt Securities and Subordina_6

Debt Securities and Subordinated Borrowings - Other Short-Term Debt (Details) - Held by Freddie Mac - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Other short-term debt par value	$ 51,246	$ 73,190
Other short-term debt carrying amount	$ 51,080	$ 73,069
Other short-term debt weighted average effective rate	2.28%	1.14%
Discount notes and Reference Bills
Short-term Debt [Line Items]
Other short-term debt par value	$ 28,787	$ 45,717
Other short-term debt carrying amount	$ 28,621	$ 45,596
Other short-term debt weighted average effective rate	2.36%	1.19%
Medium-term notes
Short-term Debt [Line Items]
Other short-term debt par value	$ 16,440	$ 17,792
Other short-term debt carrying amount	$ 16,440	$ 17,792
Other short-term debt weighted average effective rate	2.10%	1.03%
Securities Sold under Agreements to Repurchase
Short-term Debt [Line Items]
Other short-term debt par value	$ 6,019	$ 9,681
Other short-term debt carrying amount	$ 6,019	$ 9,681
Other short-term debt weighted average effective rate	2.40%	1.06%

Debt Securities and Subordina_7

Debt Securities and Subordinated Borrowings - Other Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Other long-term debt carrying amount	$ 1,993,870
Held by Freddie Mac
Debt Instrument [Line Items]
Other long-term debt par value	203,724	$ 242,916
Other long-term debt carrying amount	$ 201,193	$ 240,565
Other long-term debt weighted average effective rate	2.58%	2.04%
Long-Term Debt, Fair Value	$ 4,357	$ 5,160
Held by Freddie Mac | Other senior debt:
Debt Instrument [Line Items]
Other long-term debt par value	203,392	242,463
Other long-term debt carrying amount	200,890	240,171
Held by Freddie Mac | Hedging-related basis adjustment
Debt Instrument [Line Items]
Other long-term debt carrying amount	(215)	(79)
Held by Freddie Mac | Other
Debt Instrument [Line Items]
Other long-term debt par value	0	0
Other long-term debt carrying amount	$ 2	$ 0
Other long-term debt weighted average effective rate	0.63%	0.00%
Held by Freddie Mac | Other subordinated debt:
Debt Instrument [Line Items]
Other long-term debt par value	$ 332	$ 453
Other long-term debt carrying amount	303	394
Held by Freddie Mac | Fixed-rate | Medium-term notes - callable
Debt Instrument [Line Items]
Other long-term debt par value	78,810	86,311
Other long-term debt carrying amount	$ 78,786	$ 86,284
Other long-term debt weighted average effective rate	2.01%	1.47%
Held by Freddie Mac | Fixed-rate | Medium-term notes - non-callable
Debt Instrument [Line Items]
Other long-term debt par value	$ 4,761	$ 10,839
Other long-term debt carrying amount	$ 4,811	$ 10,973
Other long-term debt weighted average effective rate	1.83%	1.40%
Held by Freddie Mac | Fixed-rate | Reference Notes securities - non-callable
Debt Instrument [Line Items]
Other long-term debt par value	$ 65,362	$ 79,991
Other long-term debt carrying amount	$ 65,385	$ 80,019
Other long-term debt weighted average effective rate	2.39%	2.17%
Held by Freddie Mac | Fixed-rate | STACR and SCR
Debt Instrument [Line Items]
Other long-term debt par value	$ 133	$ 137
Other long-term debt carrying amount	$ 136	$ 140
Other long-term debt weighted average effective rate	12.76%	12.77%
Held by Freddie Mac | Fixed-rate | Other subordinated debt:
Debt Instrument [Line Items]
Other long-term debt par value	$ 0	$ 121
Other long-term debt carrying amount	$ 0	$ 121
Other long-term debt weighted average effective rate	0.00%	7.83%
Held by Freddie Mac | Variable-rate | Medium-term notes - callable
Debt Instrument [Line Items]
Other long-term debt par value	$ 26,396	$ 27,510
Other long-term debt carrying amount	$ 26,364	$ 27,475
Other long-term debt weighted average effective rate	2.33%	1.95%
Held by Freddie Mac | Variable-rate | Medium-term notes - non-callable
Debt Instrument [Line Items]
Other long-term debt par value	$ 5,325	$ 14,746
Other long-term debt carrying amount	$ 5,325	$ 14,746
Other long-term debt weighted average effective rate	1.47%	0.68%
Held by Freddie Mac | Variable-rate | STACR and SCR
Debt Instrument [Line Items]
Other long-term debt par value	$ 17,596	$ 17,788
Other long-term debt carrying amount	$ 17,868	$ 18,198
Other long-term debt weighted average effective rate	5.99%	5.00%
Held by Freddie Mac | Zero-coupon | Medium-term notes - non-callable
Debt Instrument [Line Items]
Other long-term debt par value	$ 5,009	$ 5,141
Other long-term debt carrying amount	$ 2,428	$ 2,415
Other long-term debt weighted average effective rate	6.29%	5.94%
Held by Freddie Mac | Zero-coupon | Other subordinated debt:
Debt Instrument [Line Items]
Other long-term debt par value	$ 332	$ 332
Other long-term debt carrying amount	$ 303	$ 273
Other long-term debt weighted average effective rate	10.51%	10.51%

Debt Securities and Subordina_8

Debt Securities and Subordinated Borrowings - Contractual Maturity of Other Long-term Debt and Debt Securities of Consolidated Trusts Held by Third Parties (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Contractual maturities of long term debt and debt securities of consolidated trusts held by third parties
Debt securities of consolidated trusts held by third parties, STACR and SCR	$ 1,766,467
Total	1,952,462
Net discounts, premiums, hedge-related and other basis adjustments	41,408
Long-term Debt	1,993,870
Held by Freddie Mac
Contractual maturities of long term debt and debt securities of consolidated trusts held by third parties
Other long-term debt - 2019	58,002
Other long-term debt - 2020	42,296
Other long-term debt - 2021	30,898
Other long-term debt - 2022	20,802
Other long-term debt - 2023	15,929
Long-term Debt, Maturities, Repayments of Principal after Year Five	18,068
Long-term Debt	$ 201,193	$ 240,565

Derivatives (Details)

Derivatives (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)category	Dec. 31, 2017USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Number of derivative categories | category	3
Derivative Instruments, Losses Reclassified from Accumulated OCI into Income, Effective Portion, Net | $	$ 133	$ 164

Derivatives - Derivative Assets

Derivatives - Derivative Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional or contractual amount	$ 876,042	$ 1,010,300
Derivative interest receivable	889	1,407
Netting adjustments to derivative assets	(6,972)	(9,870)
Derivative Assets, net	335	375
Derivative interest payable	(1,096)	(1,596)
Netting adjustments to derivative liabilities	4,941	8,816
Derivative liabilities, net	(583)	(269)
Commitments
Derivative [Line Items]
Derivative assets at fair value		44
Other
Derivative [Line Items]
Derivative Assets, net	91	52
Derivative liabilities, net	(317)	(129)
Not Designated as Hedging Instrument, Economic Hedge
Derivative [Line Items]
Notional or contractual amount	681,491	857,546
Derivative assets at fair value	6,148	7,448
Derivative liabilities at fair value	(2,922)	(6,484)
Not Designated as Hedging Instrument, Economic Hedge | CDX Swaption
Derivative [Line Items]
Notional or contractual amount	45,900	13,400
Derivative assets at fair value	113	5
Not Designated as Hedging Instrument, Economic Hedge | Interest Rate Swaps
Derivative [Line Items]
Notional or contractual amount	321,689	404,361
Derivative assets at fair value	1,857	2,872
Derivative liabilities at fair value	(2,468)	(6,234)
Not Designated as Hedging Instrument, Economic Hedge | Receive-fixed
Derivative [Line Items]
Notional or contractual amount	145,386	213,717
Derivative assets at fair value	1,380	2,121
Derivative liabilities at fair value	(181)	(1,224)
Not Designated as Hedging Instrument, Economic Hedge | Pay-fixed
Derivative [Line Items]
Notional or contractual amount	170,899	185,400
Derivative assets at fair value	476	751
Derivative liabilities at fair value	(2,287)	(5,008)
Not Designated as Hedging Instrument, Economic Hedge | Basis (floating to floating)
Derivative [Line Items]
Notional or contractual amount	5,404	5,244
Derivative assets at fair value	1	0
Derivative liabilities at fair value	0	(2)
Not Designated as Hedging Instrument, Economic Hedge | Option-based
Derivative [Line Items]
Notional or contractual amount	148,331	125,118
Derivative assets at fair value	4,200	4,524
Derivative liabilities at fair value	(137)	(121)
Not Designated as Hedging Instrument, Economic Hedge | Call swaptions | Purchased
Derivative [Line Items]
Notional or contractual amount	43,625	58,975
Derivative assets at fair value	2,007	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	(133)	(101)
Not Designated as Hedging Instrument, Economic Hedge | Put swaptions | Purchased
Derivative [Line Items]
Notional or contractual amount	88,075	47,810
Derivative assets at fair value	1,565	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	1,750	3,000
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(4)	(20)
Not Designated as Hedging Instrument, Economic Hedge | Other option-based derivatives
Derivative [Line Items]
Notional or contractual amount	10,481	10,683
Derivative assets at fair value	628	757
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Futures
Derivative [Line Items]
Notional or contractual amount	161,185	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	36,044	54,207
Derivative assets at fair value	90	44
Derivative liabilities at fair value	(179)	(64)
Not Designated as Hedging Instrument, Economic Hedge | Credit derivatives
Derivative [Line Items]
Notional or contractual amount	2,030	3,569
Derivative assets at fair value	0	7
Derivative liabilities at fair value	(35)	(46)
Not Designated as Hedging Instrument, Economic Hedge | Other
Derivative [Line Items]
Notional or contractual amount	12,212	2,906
Derivative assets at fair value	1	1
Derivative liabilities at fair value	(103)	(19)
Designated as Hedging Instrument | Fair Value Hedging
Derivative [Line Items]
Notional or contractual amount	194,551	152,754
Derivative assets at fair value	270	1,390
Derivative liabilities at fair value	(1,506)	(1,005)
Designated as Hedging Instrument | Fair Value Hedging | Receive-fixed
Derivative [Line Items]
Notional or contractual amount	117,038	83,352
Derivative assets at fair value	23	2
Derivative liabilities at fair value	(935)	(714)
Designated as Hedging Instrument | Fair Value Hedging | Pay-fixed
Derivative [Line Items]
Notional or contractual amount	77,513	69,402
Derivative assets at fair value	247	1,388
Derivative liabilities at fair value	$ (571)	$ (291)

Derivatives - Gains and Losses

Derivatives - Gains and Losses on Derivatives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	$ 1,270	$ (1,988)	$ (274)
Accrual of periodic settlements
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(141)	(1,590)	(1,760)
Accrual of periodic settlements | Receive-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	364	1,511	2,316
Accrual of periodic settlements | Pay-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(584)	(3,101)	(4,077)
Accrual of periodic settlements | Other
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	79	0	1
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)	1,422	626	178
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)	(2,457)	(1,343)	(3,539)
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)	3,880	1,972	3,717
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)	(1)	(3)	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)	(630)	(1,041)	421
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)	(791)	(404)	234
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)	20	24	(45)
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)	272	(673)	210
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)	(2)	50	35
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)	(129)	(38)	(13)
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)	619	17	887
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)	57	144	334
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)	606	(91)	631
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)	(5)	(29)	(75)
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)	$ (39)	$ (7)	$ (3)

Derivatives - Gains and Losse_2

Derivatives - Gains and Losses on Fair Value Hedge (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Interest Income, Mortgage Loans	$ 66,037	$ 63,735	$ 61,040
Interest Expense	(58,033)	(53,643)	(50,786)
Other income (loss)	714	4,982	$ 803
Interest income
Derivative Instruments, Gain (Loss) [Line Items]
Discontinued hedge relatated basis adjustment amortization	133	(16)
Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Discontinued hedge relatated basis adjustment amortization	(3)	0
Interest rate risk on held-for-investment mortgage loans | Interest income
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(1,776)	(107)
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	1,091	313
Interest accruals on fair value hedging derivatives for held-for-investment loans	(439)	(83)
Interest rate risk on held-for-investment mortgage loans | Other income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0	351
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	0	(215)
Interest accruals on fair value hedging derivatives for held-for-investment loans	0	0
Interest rate risk on held-for-investment mortgage loans | Gain (Loss) on Derivative Instruments
Derivative Instruments, Gain (Loss) [Line Items]
Interest accruals on fair value hedging derivatives for held-for-investment loans		(277)
Interest rate risk on debt | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	145	93
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	155	(53)
Interest accruals on fair value hedging derivatives for held-for-investment loans	$ (313)	$ 8

Derivatives - Cumulative Basis

Derivatives - Cumulative Basis Adjustment on Fair Value Hedges (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying amount mortgage loans held-for-investment hedged asset	$ 193,547	$ 128,140
Carrying amount debt hedged liability	(127,215)	(92,277)
Total basis adjustment cumulative amount for hedged asset	(1,237)	198
Total basis adjustment cumulative amount for hedged liability	216	79
Basis adjustment amount for hedged asset - discontinued hedge	(1,237)	198
Basis adjustment amount for hedged liability - discontinued hedge	$ (8)	$ (14)

Collateral and Offsetting of _3

Collateral and Offsetting of Assets and Liabilities (Details) $ in Millions	Dec. 31, 2018USD ($)numberofcounterparties	Dec. 31, 2017USD ($)
Offsetting Assets [Line Items]
Maximum loss after applying netting agreements and collateral	$ 162	$ 170
Commitments
Offsetting Assets [Line Items]
Total exposure on our commitments		44
OTC derivatives
Offsetting Assets [Line Items]
Maximum loss after applying netting agreements and collateral	48	41
Derivatives in a net liability position	400
Collateral already posted, aggregate fair value	300
Additional Collateral, Aggregate Fair Value	123
Cash pledged to us as collateral that was invested as part of our liquidity and contingency operating portfolio	$ 3,000	$ 2,400
OTC derivatives | Net uncollateralized exposure to derivative counterparties | S&P equivalent investment grade rating
Offsetting Assets [Line Items]
Number of counterparties | numberofcounterparties	5

Collateral and Offsetting of _4

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Assets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Derivative Assets:
Gross Amount Recognized	$ 7,307	$ 10,245
Derivative Asset, Fair Value, Gross Liability	(4,544)	(7,765)
Derivative Asset, Collateral, Obligation to Return Cash, Offset	(2,428)	(2,105)
Derivative Assets, net	335	375
Gross Amount Not Offset in the Consolidated Balance Sheets	(173)	(205)
Net Amount	162	170
Securities purchased under agreements to resell:
Gross Amount Recognized	34,771	55,903
Counterparty netting	0	0
Net Amount Presented in the Consolidated Balance Sheets	34,771	55,903
Gross Amount Not Offset in the Consolidated Balance Sheets	(34,771)	(55,903)
Net Amount	0	0
Total:
Gross Amount Recognized	42,078	66,148
Counterparty netting	(4,544)	(7,765)
Cash Collateral Received For Derivatives And Securities Purchased Under Agreements To Resell	(2,428)	(2,105)
Net Amount Presented in the Consolidated Balance Sheets	35,106	56,278
Gross Amount Not Offset in the Consolidated Balance Sheets	(34,944)	(56,108)
Net Amount	162	170
Other
Derivative Assets:
Gross Amount Recognized	91	52
Derivative Asset, Fair Value, Gross Liability	0	0
Derivative Asset, Collateral, Obligation to Return Cash, Offset	0	0
Derivative Assets, net	91	52
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	91	52
OTC derivatives
Derivative Assets:
Gross Amount Recognized	7,213	7,648
Derivative Asset, Fair Value, Gross Liability	(4,544)	(5,499)
Derivative Asset, Collateral, Obligation to Return Cash, Offset	(2,448)	(1,903)
Derivative Assets, net	221	246
Gross Amount Not Offset in the Consolidated Balance Sheets	(173)	(205)
Net Amount	48	41
Cleared and exchange-traded derivatives
Derivative Assets:
Gross Amount Recognized	3	2,545
Derivative Asset, Fair Value, Gross Liability	0	(2,266)
Derivative Asset, Collateral, Obligation to Return Cash, Offset	20	(202)
Derivative Assets, net	23	77
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	23	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	20,100	34,800
Securities purchased under agreements to resell not executed with clearinghouse
Total:
Securities Held as Collateral, at Fair Value	$ 2,500	$ 3,400

Collateral and Offsetting of _5

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Derivative Liabilities:
Gross Amount Recognized	$ (5,524)	$ (9,085)
Counterparty netting	4,544	7,765
Cash collateral netting	397	1,051
Derivative liabilities, net	(583)	(269)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(583)	(269)
Securities Sold under Agreements to Repurchase [Abstract]
Gross Amount Recognized	(6,019)	(9,681)
Counterparty netting	0	0
Net Amount Presented in the Consolidated Balance Sheets	(6,019)	(9,681)
Gross Amount Not Offset in the Consolidated Balance Sheets	6,019	9,681
Net Amount	0	0
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract]
Gross Amount Recognized	(11,543)	(18,766)
Counterparty netting	4,544	7,765
Cash collateral netting	397	1,051
Net Amount Presented in the Consolidated Balance Sheets	(6,602)	(9,950)
Gross Amount Not Offset in the Consolidated Balance Sheets	6,019	9,681
Net Amount	(583)	(269)
Other
Derivative Liabilities:
Gross Amount Recognized	(317)	(129)
Counterparty netting	0	0
Cash collateral netting	0	0
Derivative liabilities, net	(317)	(129)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(317)	(129)
OTC derivatives
Derivative Liabilities:
Gross Amount Recognized	(4,963)	(6,285)
Counterparty netting	4,544	5,499
Cash collateral netting	296	688
Derivative liabilities, net	(123)	(98)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(123)	(98)
Cleared and exchange-traded derivatives
Derivative Liabilities:
Gross Amount Recognized	(244)	(2,671)
Counterparty netting	0	2,266
Cash collateral netting	101	363
Derivative liabilities, net	(143)	(42)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(143)	(42)
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract]
Aggregate fair value of securities posted	2,500	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 _6

Collateral and Offsetting of Assets and Liabilities - Collateral in the Form of Securities Pledged (Details) - USD ($) $ in Millions	Dec. 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	$ 8,802	$ 13,319
Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	2,522	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	6,027	9,705
Other
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	253	473
Cash and Cash Equivalents [Member]
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	2,595
Cash and Cash Equivalents [Member] | Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	0
Cash and Cash Equivalents [Member] | 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	2,595
Cash and Cash Equivalents [Member] | Other
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	0
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	541	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	362	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	179	111
Available-for-sale Securities [Member]
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	1
Available-for-sale Securities [Member] | Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	0
Available-for-sale Securities [Member] | 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
Available-for-sale Securities [Member] | Other
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	1
Trading securities
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	5,665	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	2,160	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	3,432	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	$ 73	$ 362

Collateral and Offsetting of _7

Collateral and Offsetting of Assets and Liabilities - Contractual Maturity of Collateral Pledged (Details) - Securities Sold under Agreements to Repurchase $ in Millions	Dec. 31, 2018USD ($)
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities	$ 6,027
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	2,103
After 30 days through 90 days
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities	3,924
Greater than 90 days
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities	$ 0

Stockholders' Equity and Earn_3

Stockholders' Equity and Earnings per Share (Details)	Sep. 08, 2008USD ($)shares	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)numberofsecurities$ / sharesshares	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)numberofsecurities$ / sharesshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares	Jan. 01, 2018USD ($)	Jul. 08, 2010numberofsecurities
Stockholders Equity Text [Line Items]
Federal statutory tax rate							21.00%	35.00%	35.00%
Total AOCI related to derivatives designated as cash flow hedges			$ (315,000,000)				$ (315,000,000)	$ (356,000,000)
Cash flow hedge gain (loss) to be reclassified over the next 12 months							$ (75,000,000)
Maximum remaining length of time hedged in cash flow hedge							15 years
Initial Liquidation Preference Of Senior Preferred Stock	$ 1,000,000,000
Increase in Senior Preferred Stock								3,000,000,000
Cash dividends paid on senior preferred stock			2,600,000,000	$ 1,600,000,000	$ 0	$ 0	$ 4,145,000,000	10,945,000,000	$ 4,983,000,000
Increase in liquidation preference							312,000,000	0	$ 0
Senior preferred stock, at redemption value			75,648,000,000				75,648,000,000	75,336,000,000
Applicable capital reserve amount			3,000,000,000				3,000,000,000			$ 3,000,000,000
Applicable capital reserve amount if we don't pay the full dividend requirement in a future period			$ 0				$ 0
Common stock warrant, exercise price per share | $ / shares			$ 0.00001				$ 0.00001
Common stock warrant, amount outstanding			$ 2,300,000,000				$ 2,300,000,000
Number of preferred stock classes | numberofsecurities			24				24
Number of senior preferred stock class | numberofsecurities			1				1
Common shares or non-cumulative preferred stock repurchased							$ 0	0
Common shares or non-cumulative preferred stock issued							$ 0	$ 0
Antidilutive potential common shares | shares							0	0	22,684
Common dividends declared							$ 0	$ 0
Dividends declared on preferred stock							0
Dividends paid on preferred stock							$ 0
Number of preferred stock classes delisted | numberofsecurities											20
Subsequent Event
Stockholders Equity Text [Line Items]
Cash dividends paid on senior preferred stock		$ 1,500,000,000
Preferred Stock
Stockholders Equity Text [Line Items]
Preferred Stock, Shares Outstanding | shares			464,170,000				464,170,000
Senior Preferred Stock
Stockholders Equity Text [Line Items]
Senior preferred stock, shares issued | shares	1,000,000
Senior preferred stock, par value per share | $ / shares			$ 1				$ 1
Initial Liquidation Preference Of Senior Preferred Stock	$ 1,000,000,000
Initial Liquidation Preference Price Per Share | $ / shares			$ 1,000				$ 1,000
Increase in Senior Preferred Stock			$ 3,000,000,000				$ 3,000,000,000
Senior preferred stock, at redemption value			$ 75,648,000,000				$ 75,648,000,000
Preferred Stock, Shares Outstanding | shares			1,000,000				1,000,000
Common Stock
Stockholders Equity Text [Line Items]
OTCQB Symbol							FMCC
Restricted Stock Units (RSUs)
Stockholders Equity Text [Line Items]
Restricted stock units lapsed | shares							350
Restricted stock outstanding | shares			1,053				1,053
Restricted stock
Stockholders Equity Text [Line Items]
Restricted stock outstanding | shares			41,160				41,160	41,160
Stock options
Stockholders Equity Text [Line Items]
Stock options outstanding | shares			0				0

Stockholders' Equity and Earn_4

Stockholders' Equity and Earnings per Share - Changes in AOCI by Component, Net of Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (312)	$ 5,075	$ 2,940
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(613)	(67)	(697)
Ending balance	4,477	(312)	5,075
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	389	456	1,153
Other comprehensive income (loss) before reclassifications	(465)	920	(328)
Amounts reclassified from accumulated other comprehensive income	(148)	(987)	(369)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(613)	(67)	(697)
Cumulative effect of change in accounting principle	89
Ending balance	(135)	389	456
AOCI related to available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	662	915	1,740
Other comprehensive income (loss) before reclassifications	(476)	857	(318)
Amounts reclassified from accumulated other comprehensive income	(246)	(1,110)	(507)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(722)	(253)	(825)
Cumulative effect of change in accounting principle	143
Ending balance	83	662	915
Tax expense related to AFS - other comprehensive income before reclassifications	(100)	500	(200)
AOCI related to cash flow hedge relationships
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(356)	(480)	(621)
Other comprehensive income (loss) before reclassifications	0	0	0
Amounts reclassified from accumulated other comprehensive income	114	124	141
Total other comprehensive income (loss), net of taxes and reclassification adjustments	114	124	141
Cumulative effect of change in accounting principle	(73)
Ending balance	(315)	(356)	(480)
AOCI related to defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	83	21	34
Other comprehensive income (loss) before reclassifications	11	63	(10)
Amounts reclassified from accumulated other comprehensive income	(16)	(1)	(3)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(5)	62	(13)
Cumulative effect of change in accounting principle	19
Ending balance	$ 97	$ 83	$ 21

Stockholders' Equity and Earn_5

Stockholders' Equity and Earnings per Share - Reclassifications from AOCI to Net Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Maximum Length of Time Hedged in Cash Flow Hedge	15 years
Net impairment of available-for-sale securities recognized in earnings	$ (12)	$ (18)	$ (191)
Income before income tax (expense) benefit	11,474	16,834	11,639
Interest expense	(58,033)	(53,643)	(50,786)
Income tax (expense) benefit	(2,239)	(11,209)	(3,824)
Salaries and employee benefits	(1,227)	(1,098)	(989)
Net income (loss)	9,235	5,625	7,815
Held by Freddie Mac
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Interest expense	(6,504)	(5,987)	(6,187)
Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	148	987	369
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	312	1,708	780
Income before income tax (expense) benefit	312	1,708	780
Income tax (expense) benefit	(66)	(598)	(273)
Net income (loss)	246	1,110	507
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	19	40	51
Net income (loss)	(114)	(124)	(141)
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	(133)	(164)	(192)
AOCI related to defined benefit plans | Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income tax (expense) benefit	(4)	(1)	(1)
Salaries and employee benefits	20	2	4
Net income (loss)	$ 16	$ 1	$ 3

Stockholders' Equity and Earn_6

Stockholders' Equity and Earnings per Share - Senior Preferred Stock (Details) - USD ($)	Mar. 30, 2018	Jun. 29, 2012	Mar. 30, 2012	Dec. 30, 2011	Sep. 30, 2011	Mar. 31, 2011	Dec. 30, 2010	Sep. 30, 2010	Jun. 30, 2010	Jun. 30, 2009	Mar. 31, 2009	Nov. 24, 2008	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Sep. 08, 2008
Class of Stock [Line Items]
Initial Liquidation Preference Of Senior Preferred Stock																$ 1,000,000,000
Increase in Senior Preferred Stock															$ 3,000,000,000
Increase in liquidation preference													$ 0	$ 312,000,000
Aggregate liquidation preference on senior preferred stock													$ 75,648,000,000	$ 75,648,000,000	$ 75,336,000,000
Senior Preferred Stock
Class of Stock [Line Items]
Shares Authorized													1,000,000	1,000,000
Shares Outstanding													1,000,000	1,000,000
Total Par Value													$ 1,000,000	$ 1,000,000
Initial Liquidation Preference Of Senior Preferred Stock																$ 1,000,000,000
Initial Liquidation Preference Price Per Share													$ 1,000	$ 1,000
Increase in Senior Preferred Stock													$ 3,000,000,000	$ 3,000,000,000
Increase in liquidation preference	$ 312,000,000	$ 19,000,000	$ 146,000,000	$ 5,992,000,000	$ 1,479,000,000	$ 500,000,000	$ 100,000,000	$ 1,800,000,000	$ 10,600,000,000	$ 6,100,000,000	$ 30,800,000,000	$ 13,800,000,000
Aggregate liquidation preference on senior preferred stock													$ 75,648,000,000	$ 75,648,000,000

Stockholders' Equity and Earn_7

Stockholders' Equity and Earnings per Share - Preferred Stock (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2012	Dec. 31, 2017USD ($)
Class of Stock [Line Items]
Total Outstanding Balance	$ 14,109,000		$ 14,109,000
Preferred Stock
Class of Stock [Line Items]
Shares Authorized | shares	464,170,000
Shares Outstanding | shares	464,170,000
Total Par Value	$ 464,170
Total Outstanding Balance	$ 14,109,000
Class 1 - 1996 Variable-rate
Class of Stock [Line Items]
Shares Authorized | shares	5,000,000
Shares Outstanding | shares	5,000,000
Total Par Value	$ 5,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 250,000
OTCQB Symbol	FMCCI
Preferred Stock, Dividend Payment Terms	Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 1% divided by 1.377, and is capped at 9.00%.
Percentage added to benchmark rate in dividend rate reset calculation	1.00%
Denominator amount in dividend rate reset calculation	1.377
Class 1 - 1996 Variable-rate | Maximum
Class of Stock [Line Items]
Preferred stock, dividend rate	9.00%
Class 2 - 5.81%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.81%
Shares Authorized | shares	3,000,000
Shares Outstanding | shares	3,000,000
Total Par Value	$ 3,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 150,000
Class 3 - 5%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.00%
Shares Authorized | shares	8,000,000
Shares Outstanding | shares	8,000,000
Total Par Value	$ 8,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 400,000
OTCQB Symbol	FMCKK
Class 4 - 1998 Variable-rate
Class of Stock [Line Items]
Shares Authorized | shares	4,400,000
Shares Outstanding | shares	4,400,000
Total Par Value	$ 4,400
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 220,000
OTCQB Symbol	FMCCG
Preferred Stock, Dividend Payment Terms	Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 1% divided by 1.377, and is capped at 7.50%.
Percentage added to benchmark rate in dividend rate reset calculation	1.00%
Denominator amount in dividend rate reset calculation	1.377
Class 4 - 1998 Variable-rate | Maximum
Class of Stock [Line Items]
Preferred stock, dividend rate	7.50%
Class 5 - 5.10%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.10%
Shares Authorized | shares	8,000,000
Shares Outstanding | shares	8,000,000
Total Par Value	$ 8,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 400,000
OTCQB Symbol	FMCCH
Class 6 - 5.30%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.30%
Shares Authorized | shares	4,000,000
Shares Outstanding | shares	4,000,000
Total Par Value	$ 4,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 200,000
Class 7 - 5.10%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.10%
Shares Authorized | shares	3,000,000
Shares Outstanding | shares	3,000,000
Total Par Value	$ 3,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 150,000
Class 8 - 5.79%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.79%
Shares Authorized | shares	5,000,000
Shares Outstanding | shares	5,000,000
Total Par Value	$ 5,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 250,000
OTCQB Symbol	FMCCK
Class 9 - 1999 Variable-rate
Class of Stock [Line Items]
Shares Authorized | shares	5,750,000
Shares Outstanding | shares	5,750,000
Total Par Value	$ 5,750
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 287,000
OTCQB Symbol	FMCCL
Preferred Stock, Dividend Payment Terms	Dividend rate resets on January 1 every five years after January 1, 2005 based on a five-year Constant Maturity Treasury rate, and is capped at 11.00%.
Preferred Stock, Redemption Terms	Optional redemption on December 31, 2004 and on December 31 every five years thereafter.
Preferred stock dividend rate reset period	5 years
Class 9 - 1999 Variable-rate | Maximum
Class of Stock [Line Items]
Preferred stock, dividend rate	11.00%
Class 10 - 2001 Variable-rate
Class of Stock [Line Items]
Shares Authorized | shares	6,500,000
Shares Outstanding | shares	6,500,000
Total Par Value	$ 6,500
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 325,000
OTCQB Symbol	FMCCM
Preferred Stock, Dividend Payment Terms	Dividend rate resets on April 1 every two years after April 1, 2003 based on the two-year Constant Maturity Treasury rate plus 0.10%, and is capped at 11.00%.
Preferred Stock, Redemption Terms	Optional redemption on March 31, 2003 and on March 31 every two years thereafter.
Percentage added to benchmark rate in dividend rate reset calculation	0.10%
Preferred stock dividend rate reset period	2 years
Class 10 - 2001 Variable-rate | Maximum
Class of Stock [Line Items]
Preferred stock, dividend rate	11.00%
Class 11 - 2001 Variable-rate
Class of Stock [Line Items]
Shares Authorized | shares	4,600,000
Shares Outstanding | shares	4,600,000
Total Par Value	$ 4,600
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 230,000
OTCQB Symbol	FMCCN
Preferred Stock, Dividend Payment Terms	Dividend rate resets on April 1 every year based on 12-month LIBOR minus 0.20%, and is capped at 11.00%.
Preferred Stock, Redemption Terms	Optional redemption on March 31, 2003 and on March 31 every year thereafter.
Percentage deducted from benchmark rate in dividend rate reset calculation	0.20%
Class 11 - 2001 Variable-rate | Maximum
Class of Stock [Line Items]
Preferred stock, dividend rate	11.00%
Class 12 - 5.81%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.81%
Shares Authorized | shares	3,450,000
Shares Outstanding | shares	3,450,000
Total Par Value	$ 3,450
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 173,000
OTCQB Symbol	FMCCO
Class 13 - 6%
Class of Stock [Line Items]
Preferred stock, dividend rate	6.00%
Shares Authorized | shares	3,450,000
Shares Outstanding | shares	3,450,000
Total Par Value	$ 3,450
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 173,000
OTCQB Symbol	FMCCP
Class 14 - 2001 Variable-rate
Class of Stock [Line Items]
Shares Authorized | shares	4,020,000
Shares Outstanding | shares	4,020,000
Total Par Value	$ 4,020
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 201,000
OTCQB Symbol	FMCCJ
Preferred Stock, Dividend Payment Terms	Dividend rate resets on July 1 every two years after July 1, 2003 based on the two-year Constant Maturity Treasury rate plus 0.20%, and is capped at 11.00%.
Preferred Stock, Redemption Terms	Optional redemption on June 30, 2003 and on June 30 every two years thereafter.
Percentage added to benchmark rate in dividend rate reset calculation	0.20%
Preferred stock dividend rate reset period	2 years
Class 14 - 2001 Variable-rate | Maximum
Class of Stock [Line Items]
Preferred stock, dividend rate	11.00%
Class 15 - 5.70%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.70%
Shares Authorized | shares	6,000,000
Shares Outstanding | shares	6,000,000
Total Par Value	$ 6,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 300,000
OTCQB Symbol	FMCKP
Class 16 - 5.81%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.81%
Shares Authorized | shares	6,000,000
Shares Outstanding | shares	6,000,000
Total Par Value	$ 6,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 300,000
Class 17 - 2006 Variable-rate
Class of Stock [Line Items]
Shares Authorized | shares	15,000,000
Shares Outstanding | shares	15,000,000
Total Par Value	$ 15,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 750,000
OTCQB Symbol	FMCCS
Preferred Stock, Dividend Payment Terms	Dividend rate resets quarterly and is equal to the sum of three-month LIBOR plus 0.50% but not less than 4.00%.
Percentage added to benchmark rate in dividend rate reset calculation	0.50%
Class 17 - 2006 Variable-rate | Minimum
Class of Stock [Line Items]
Preferred stock, dividend rate	4.00%
Class 18 - 6.42%
Class of Stock [Line Items]
Preferred stock, dividend rate	6.42%
Shares Authorized | shares	5,000,000
Shares Outstanding | shares	5,000,000
Total Par Value	$ 5,000
Redemption Price Per Share | $ / shares	$ 50
Total Outstanding Balance	$ 250,000
OTCQB Symbol	FMCCT
Class 19 - 5.90%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.90%
Shares Authorized | shares	20,000,000
Shares Outstanding | shares	20,000,000
Total Par Value	$ 20,000
Redemption Price Per Share | $ / shares	$ 25
Total Outstanding Balance	$ 500,000
OTCQB Symbol	FMCKO
Class 20 - 5.57%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.57%
Shares Authorized | shares	44,000,000
Shares Outstanding | shares	44,000,000
Total Par Value	$ 44,000
Redemption Price Per Share | $ / shares	$ 25
Total Outstanding Balance	$ 1,100,000
OTCQB Symbol	FMCKM
Class 21 - 5.66%
Class of Stock [Line Items]
Preferred stock, dividend rate	5.66%
Shares Authorized | shares	20,000,000
Shares Outstanding | shares	20,000,000
Total Par Value	$ 20,000
Redemption Price Per Share | $ / shares	$ 25
Total Outstanding Balance	$ 500,000
OTCQB Symbol	FMCKN
Class 22 - 6.02%
Class of Stock [Line Items]
Preferred stock, dividend rate	6.02%
Shares Authorized | shares	20,000,000
Shares Outstanding | shares	20,000,000
Total Par Value	$ 20,000
Redemption Price Per Share | $ / shares	$ 25
Total Outstanding Balance	$ 500,000
OTCQB Symbol	FMCKL
Class 23 - 6.55%
Class of Stock [Line Items]
Preferred stock, dividend rate	6.55%
Shares Authorized | shares	20,000,000
Shares Outstanding | shares	20,000,000
Total Par Value	$ 20,000
Redemption Price Per Share | $ / shares	$ 25
Total Outstanding Balance	$ 500,000
OTCQB Symbol	FMCKI
Class 24 - 2007 Fixed-to-floating rate
Class of Stock [Line Items]
Preferred stock, dividend rate		8.375%
Shares Authorized | shares	240,000,000
Shares Outstanding | shares	240,000,000
Total Par Value	$ 240,000
Redemption Price Per Share | $ / shares	$ 25
Total Outstanding Balance	$ 6,000,000
OTCQB Symbol	FMCKJ
Preferred Stock, Dividend Payment Terms	Dividend rate is set at an annual fixed rate of 8.375% from December 4, 2007 through December 31, 2012. For the period beginning on or after January 1, 2013, dividend rate resets quarterly and is equal to the higher of: (a) the sum of three-month LIBOR plus 4.16% per annum; or (b) 7.875% per annum.
Preferred Stock, Redemption Terms	Optional redemption on December 31, 2012, and on December 31 every five years thereafter.
Percentage added to benchmark rate in dividend rate reset calculation	4.16%
Class 24 - 2007 Fixed-to-floating rate | Maximum
Class of Stock [Line Items]
Preferred stock, dividend rate	7.875%

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal statutory tax rate	21.00%	35.00%	35.00%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ (184,000,000)	$ 5,405,000,000	$ 0
Deferred Tax Assets, Valuation Allowance	46,000,000	$ 33,000,000
Unrecognized Tax Benefits	$ 0

Income Taxes - Federal Income T

Income Taxes - Federal Income Tax (Expense) Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Current Income Tax (Expense) Benefit	$ (848)	$ (3,436)	$ (1,037)
Deferred Income Tax (Expense) Benefit	(1,391)	(7,773)	(2,787)
Income Tax (Expense) benefit	$ (2,239)	$ (11,209)	$ (3,824)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory to Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Income Tax Benefit (Expense), at Statutory Corporate Tax Rate	$ (2,410)	$ (5,892)	$ (4,074)
Tax-Exempt Interest	19	39	36
Tax Credits	56	135	243
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	(13)	(54)	0
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	184	(5,405)	0
Other	(75)	(32)	(29)
Income Tax (Expense) benefit	$ (2,239)	$ (11,209)	$ (3,824)
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Federal statutory tax rate	21.00%	35.00%	35.00%
Tax-Exempt Interest (Percent)	(0.20%)	(0.20%)	(0.30%)
Tax Credits (Percent)	(0.50%)	(0.80%)	(2.10%)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	0.10%	0.30%	0.00%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	(1.60%)	32.10%	0.00%
Other (Percent)	0.70%	0.20%	0.30%
Effective Tax Rate	19.50%	66.60%	32.90%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Deferred Tax Assets, Gross [Abstract]
Deferred fees	$ 4,424	$ 4,679
Basis differences related to derivative instruments	1,767	2,041
Credit related items and allowance for loan losses	177	291
Basis differences related to assets held for investment	569	1,288
LIHTC and AMT credit carryforwards	0	0
Other items, net	20	55
Total deferred tax assets	6,957	8,354
Deferred Tax Liabilities [Abstract]
Unrealized gains related to Available-for-Sale Securities	(23)	(214)
Total deferred tax liabilities	(23)	(214)
Deferred Tax Assets, Valuation Allowance	(46)	(33)
Deferred tax assets, net	$ 6,888	$ 8,107

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments	3
Single-family Guarantee
Segment Reporting Information [Line Items]
Increase (decrease) to other non-interest income		$ 87	$ 89
Increase to guarantee fee income/short term interest transfer		110	38
Increase to guarantee fee income/buy-up/buy-down fees		146	227
Capital Markets
Segment Reporting Information [Line Items]
Increase (decrease) to other non-interest income		(87)	(89)
Decrease to net interest income/short term interest transfer		110	38
Decrease to other non-interest income/buy-up/buy-down fees		201	225
Increase (decrease) to net interest income/buy-up/buy-down fees		$ 55	$ (2)

Segment Reporting - Segment Ear

Segment Reporting - Segment Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net income (loss)	$ 9,235	$ 5,625	$ 7,815
Comprehensive income (loss)	8,622	5,558	7,118
All Other
Segment Reporting Information [Line Items]
Net income (loss)	0	(5,405)	0
Comprehensive income (loss)	0	(5,405)	0
Single-family Guarantee | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	3,908	2,759	2,437
Comprehensive income (loss)	3,905	2,799	2,428
Multifamily | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	1,319	2,014	1,818
Comprehensive income (loss)	1,236	1,937	1,582
Capital Markets | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	4,008	6,257	3,560
Comprehensive income (loss)	3,481	6,227	3,108
Operating segments and All Other
Segment Reporting Information [Line Items]
Net income (loss)	9,235	5,625	7,815
Comprehensive income (loss)	$ 8,622	$ 5,558	$ 7,118

Segment Reporting - Segment E_2

Segment Reporting - Segment Earnings and Reconciliation to GAAP Financial Statements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	$ 12,021	$ 14,164	$ 14,379
Guarantee fee income	811	662	513
Benefit (provision) for credit losses	736	84	803
Non-interest income (loss)
Mortgage loans gains (losses)	724	2,026	200
Investment securities gains (losses)	(695)	1,036	(269)
Debt gains (losses)	720	151	(473)
Derivative gains (losses)	1,270	(1,988)	(274)
Other non-interest income (loss)	714	4,982	803
Non-interest expense
Administrative expense	(2,293)	(2,106)	(2,005)
REO operations (expense) income	(169)	(189)	(287)
Other non interest (expense) income	(2,365)	(1,988)	(1,751)
Income tax (expense) benefit	(2,239)	(11,209)	(3,824)
Net income (loss)	9,235	5,625	7,815
Changes in unrealized gains (losses) related to available-for-sale securities	(722)	(253)	(825)
Changes in unrealized gains (losses) related to cash flow hedge relationships	114	124	141
Changes in defined benefit plans	(5)	62	(13)
Total other comprehensive income (loss), net of tax	(613)	(67)	(697)
Comprehensive income (loss)	8,622	5,558	7,118
All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	0	0	0
Guarantee fee income	0	0	0
Benefit (provision) for credit losses	0	0	0
Non-interest income (loss)
Mortgage loans gains (losses)	0	0	0
Investment securities gains (losses)	0	0	0
Debt gains (losses)	0	0	0
Derivative gains (losses)	0	0	0
Other non-interest income (loss)	0	0	0
Non-interest expense
Administrative expense	0	0	0
REO operations (expense) income	0	0	0
Other non interest (expense) income	0	0	0
Income tax (expense) benefit	0	(5,405)	0
Net income (loss)	0	(5,405)	0
Changes in unrealized gains (losses) related to available-for-sale securities	0	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0	0
Changes in defined benefit plans	0	0	0
Total other comprehensive income (loss), net of tax	0	0	0
Comprehensive income (loss)	0	(5,405)	0
Reclassifications
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	7,708	9,679	9,621
Guarantee fee income	(6,576)	(6,364)	(6,354)
Benefit (provision) for credit losses	190	867	1,262
Non-interest income (loss)
Mortgage loans gains (losses)	691	930	(772)
Investment securities gains (losses)	(152)	(249)	(462)
Debt gains (losses)	(30)	(68)	(175)
Derivative gains (losses)	(406)	(1,545)	(1,763)
Other non-interest income (loss)	(782)	(2,806)	(825)
Non-interest expense
Administrative expense	0	0	0
REO operations (expense) income	19	14	11
Other non interest (expense) income	(662)	(458)	(543)
Income tax (expense) benefit	0	0	0
Net income (loss)	0	0	0
Changes in unrealized gains (losses) related to available-for-sale securities	0	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0	0
Changes in defined benefit plans	0	0	0
Total other comprehensive income (loss), net of tax	0	0	0
Comprehensive income (loss)	0	0	0
Single-family Guarantee | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	0	0	0
Guarantee fee income	6,570	6,350	6,356
Benefit (provision) for credit losses	522	(770)	(481)
Non-interest income (loss)
Mortgage loans gains (losses)	0	0	0
Investment securities gains (losses)	0	0	0
Debt gains (losses)	165	(208)	(322)
Derivative gains (losses)	9	(37)	(69)
Other non-interest income (loss)	905	1,838	928
Non-interest expense
Administrative expense	(1,491)	(1,381)	(1,323)
REO operations (expense) income	(189)	(203)	(298)
Other non interest (expense) income	(1,639)	(1,382)	(1,169)
Income tax (expense) benefit	(944)	(1,448)	(1,185)
Net income (loss)	3,908	2,759	2,437
Changes in unrealized gains (losses) related to available-for-sale securities	0	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0	0
Changes in defined benefit plans	(3)	40	(9)
Total other comprehensive income (loss), net of tax	(3)	40	(9)
Comprehensive income (loss)	3,905	2,799	2,428
Multifamily | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	1,096	1,206	1,022
Guarantee fee income	817	676	511
Benefit (provision) for credit losses	24	(13)	22
Non-interest income (loss)
Mortgage loans gains (losses)	33	1,096	972
Investment securities gains (losses)	(441)	237	28
Debt gains (losses)	54	(10)	(53)
Derivative gains (losses)	353	181	407
Other non-interest income (loss)	191	162	219
Non-interest expense
Administrative expense	(437)	(395)	(362)
REO operations (expense) income	1	0	0
Other non interest (expense) income	(53)	(66)	(58)
Income tax (expense) benefit	(319)	(1,060)	(890)
Net income (loss)	1,319	2,014	1,818
Changes in unrealized gains (losses) related to available-for-sale securities	(82)	(86)	(234)
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0	0
Changes in defined benefit plans	(1)	9	(2)
Total other comprehensive income (loss), net of tax	(83)	(77)	(236)
Comprehensive income (loss)	1,236	1,937	1,582
Capital Markets | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	3,217	3,279	3,736
Guarantee fee income	0	0	0
Benefit (provision) for credit losses	0	0	0
Non-interest income (loss)
Mortgage loans gains (losses)	0	0	0
Investment securities gains (losses)	(102)	1,048	165
Debt gains (losses)	531	437	77
Derivative gains (losses)	1,314	(587)	1,151
Other non-interest income (loss)	400	5,788	481
Non-interest expense
Administrative expense	(365)	(330)	(320)
REO operations (expense) income	0	0	0
Other non interest (expense) income	(11)	(82)	19
Income tax (expense) benefit	(976)	(3,296)	(1,749)
Net income (loss)	4,008	6,257	3,560
Changes in unrealized gains (losses) related to available-for-sale securities	(640)	(167)	(591)
Changes in unrealized gains (losses) related to cash flow hedge relationships	114	124	141
Changes in defined benefit plans	(1)	13	(2)
Total other comprehensive income (loss), net of tax	(527)	(30)	(452)
Comprehensive income (loss)	3,481	6,227	3,108
Operating segments and All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	4,313	4,485	4,758
Guarantee fee income	7,387	7,026	6,867
Benefit (provision) for credit losses	546	(783)	(459)
Non-interest income (loss)
Mortgage loans gains (losses)	33	1,096	972
Investment securities gains (losses)	(543)	1,285	193
Debt gains (losses)	750	219	(298)
Derivative gains (losses)	1,676	(443)	1,489
Other non-interest income (loss)	1,496	7,788	1,628
Non-interest expense
Administrative expense	(2,293)	(2,106)	(2,005)
REO operations (expense) income	(188)	(203)	(298)
Other non interest (expense) income	(1,703)	(1,530)	(1,208)
Income tax (expense) benefit	(2,239)	(11,209)	(3,824)
Net income (loss)	9,235	5,625	7,815
Changes in unrealized gains (losses) related to available-for-sale securities	(722)	(253)	(825)
Changes in unrealized gains (losses) related to cash flow hedge relationships	114	124	141
Changes in defined benefit plans	(5)	62	(13)
Total other comprehensive income (loss), net of tax	(613)	(67)	(697)
Comprehensive income (loss)	$ 8,622	$ 5,558	$ 7,118

Concentration of Credit and O_3

Concentration of Credit and Other Risks (Details) $ in Millions	Jul. 20, 2018USD ($)	May 31, 2015USD ($)	Jun. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2018USD ($)numberofproperties	Dec. 31, 2017USD ($)numberofproperties	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Concentration Risk [Line Items]
Real estate owned, net					$ 769	$ 892
UPB of single-family credit guarantee portfolio					1,900,000	1,800,000
Securities purchased under agreements to resell used to provide financing to investors					$ 2,500	$ 200
Judicial Ruling | Nomura And RBS Securities Inc.
Concentration Risk [Line Items]
Total settlement awarded to Freddie Mac and Fannie Mae		$ 806
Judicial Ruling | RBS Securities Inc.
Concentration Risk [Line Items]
Litigation Settlement, Amount Awarded from Other Party				$ 4,500
Judicial Ruling | Nomura [Member]
Concentration Risk [Line Items]
Proceeds from Legal Settlements	$ 652
Litigation Settlement, Expense	$ 16.5
Gain (Loss) Related to Litigation Settlement			$ 334
FHFA VS Nomura and RBS | Judicial Ruling
Concentration Risk [Line Items]
Litigation Settlement, Amount Awarded from Other Party		$ 779
Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage					100.00%	100.00%
Single-family Credit Losses
Concentration Risk [Line Items]
Concentration risk percentage					100.00%	100.00%
PMI
Concentration Risk [Line Items]
Percent of Subsequent Partial Claim Payment Cash							70.00%	67.00%
Percent of Subsequent Partial Claim Payment Deferred Payment Obligation							30.00%	33.00%
Percent of partial claim payment previously made in cash							67.00%	55.00%
Triad
Concentration Risk [Line Items]
Percent of Subsequent Partial Claim Payment Cash									75.00%
Percent of Subsequent Partial Claim Payment Deferred Payment Obligation									25.00%
Percent of partial claim payment previously made in cash									60.00%
RMIC
Concentration Risk [Line Items]
Percent of claim payment in cash								100.00%
Percent of partial claim payment previously made in cash								60.00%
Percent of partial claim payment previously made in deferred payment obligations								40.00%
PMI and Triad
Concentration Risk [Line Items]
Amount Of Cumulative Unpaid Deferred Payment Obligation					$ 500	$ 500
Seller/Servicers
Concentration Risk [Line Items]
UPB of loans subject to repurchase requests issued to Single-family Seller/Servicers					400	200
UPB of loans related to recovered losses from repurchase requests to Single-family Seller/Servicer					$ 300	$ 300
2013 to current | Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage					75.00%
Top five non-depository seller | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage					22.00%	20.00%
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]
UPB of single-family credit guarantee portfolio with mortgage insurance coverage					$ 378,700
Maximum loss limit from mortgage insurers for single-family credit guarantee portfolio					97,000
Cash proceeds received from mortgage insurers					200	$ 400
Receivables outstanding from mortgage Insurers					100	100
Receivables outstanding, net of reserves, from mortgage insurers					100	100
Cash and Other Investment Counterparties
Concentration Risk [Line Items]
Cash and other non-mortgage investments					63,100	89,800
Single-family
Concentration Risk [Line Items]
Real estate owned, net					$ 800	$ 900
Real Estate Acquired Through Foreclosure Number Of Properties | numberofproperties					7,100	8,299
Multifamily
Concentration Risk [Line Items]
Real estate owned, net					$ 0	$ 6

Concentration of Credit and O_4

Concentration of Credit and Other Risks - Concentration of Credit Risk - Single-Family Credit Guarantee Portfolio (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Serious delinquency rate	0.69%	1.08%
West
Concentration Risk [Line Items]
Serious delinquency rate	0.38%	0.47%
Northeast
Concentration Risk [Line Items]
Serious delinquency rate	0.96%	1.24%
North Central
Concentration Risk [Line Items]
Serious delinquency rate	0.63%	0.81%
Southeast
Concentration Risk [Line Items]
Serious delinquency rate	0.90%	1.95%
Southwest
Concentration Risk [Line Items]
Serious delinquency rate	0.57%	0.98%
CALIFORNIA
Concentration Risk [Line Items]
Serious delinquency rate	0.35%	0.41%
NEW YORK
Concentration Risk [Line Items]
Serious delinquency rate	1.37%	1.74%
FLORIDA
Concentration Risk [Line Items]
Serious delinquency rate	1.01%	3.33%
NEW JERSEY
Concentration Risk [Line Items]
Serious delinquency rate	1.24%	1.78%
ILLINOIS
Concentration Risk [Line Items]
Serious delinquency rate	0.86%	1.13%
All Other
Concentration Risk [Line Items]
Serious delinquency rate	0.64%	0.91%
Core single-family loan portfolio
Concentration Risk [Line Items]
Serious delinquency rate	0.22%	0.35%
Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Serious delinquency rate	1.93%	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	30.00%	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	14.00%	13.00%
Single-family UPB | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	18.00%
Single-family UPB | NEW YORK
Concentration Risk [Line Items]
Concentration risk percentage	5.00%	5.00%
Single-family UPB | FLORIDA
Concentration Risk [Line Items]
Concentration risk percentage	6.00%	6.00%
Single-family UPB | NEW JERSEY
Concentration Risk [Line Items]
Concentration risk percentage	3.00%	3.00%
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	82.00%	78.00%
Single-family UPB | Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	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%	27.00%
Single-family Credit Losses | Northeast
Concentration Risk [Line Items]
Concentration risk percentage	39.00%	34.00%
Single-family Credit Losses | North Central
Concentration Risk [Line Items]
Concentration risk percentage	19.00%	15.00%
Single-family Credit Losses | Southeast
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	20.00%
Single-family Credit Losses | Southwest
Concentration Risk [Line Items]
Concentration risk percentage	7.00%	4.00%
Single-family Credit Losses | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk percentage	11.00%	18.00%
Single-family Credit Losses | NEW YORK
Concentration Risk [Line Items]
Concentration risk percentage	11.00%	9.00%
Single-family Credit Losses | FLORIDA
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	13.00%
Single-family Credit Losses | NEW JERSEY
Concentration Risk [Line Items]
Concentration risk percentage	9.00%	9.00%
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	50.00%	42.00%
Single-family Credit Losses | Core single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	3.00%
Single-family Credit Losses | Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	90.00%	97.00%

Concentration of Credit and O_5

Concentration of Credit and Other Risks - Certain Higher-Risk Categories in the Single-Family Credit Guarantee Portfolio (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Serious delinquency rate	0.69%	1.08%
Interest-only
Concentration Risk [Line Items]
Serious delinquency rate	3.43%	4.97%
Alt-A
Concentration Risk [Line Items]
Serious delinquency rate	4.13%	5.62%
Original LTV ratio greater than 90%
Concentration Risk [Line Items]
Serious delinquency rate	1.04%	1.70%
Lower credit scores at origination (less than 620)
Concentration Risk [Line Items]
Serious delinquency rate	4.59%	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	18.00%	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 O_6

Concentration of Credit and Other Risks - Concentration of Credit Risk - Multifamily Mortgage Portfolio (Details) - USD ($) $ in Billions	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Multifamily Mortgage Portfolio UPB	$ 271.5	$ 240.7
Multifamily Delinquency Rate	0.01%	0.02%
Unsecuritized Loans
Concentration Risk [Line Items]
Multifamily Mortgage Portfolio UPB	$ 34.8	$ 38.2
Multifamily Delinquency Rate	0.01%	0.01%
Securitization related products
Concentration Risk [Line Items]
Multifamily Mortgage Portfolio UPB	$ 226.9	$ 192.5
Multifamily Delinquency Rate	0.01%	0.02%
Other mortgage-related guarantees
Concentration Risk [Line Items]
Multifamily Mortgage Portfolio UPB	$ 9.8	$ 10
Multifamily Delinquency Rate	0.00%	0.00%

Concentration of Credit and O_7

Concentration of Credit and Other Risks - Seller Concentration (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Top ten Single-family sellers | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	50.00%	53.00%
Wells Fargo Bank, N.A. | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	15.00%
Other top 10 sellers | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	38.00%	38.00%
Top ten multifamily sellers | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	79.00%	78.00%
CBRE Capital Market, Inc. | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	18.00%
Berkadia Commercial Mortgage LLC | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	11.00%
Walker & Dunlop, LLC | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	9.00%	10.00%
Other top 10 sellers | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	39.00%	39.00%

Concentration of Credit and O_8

Concentration of Credit and Other Risks - Servicer Concentration (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Single-family loan serviced | Top ten Single-family servicers
Concentration Risk [Line Items]
Concentration risk percentage	56.00%	58.00%
Single-family loan serviced | Wells Fargo Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	17.00%	18.00%
Single-family loan serviced | Other top 10 servicers
Concentration Risk [Line Items]
Concentration risk percentage	39.00%	40.00%
Multifamily loan serviced | Top ten multifamily servicers
Concentration Risk [Line Items]
Concentration risk percentage	75.00%	75.00%
Multifamily loan serviced | Wells Fargo Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	16.00%
Multifamily loan serviced | CBRE Capital Markets, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	12.00%
Multifamily loan serviced | Berkadia Commercial Mortgage LLC
Concentration Risk [Line Items]
Concentration risk percentage	11.00%	11.00%
Multifamily loan serviced | Other top 10 servicers
Concentration Risk [Line Items]
Concentration risk percentage	36.00%	36.00%

Concentration of Credit and O_9

Concentration of Credit and Other Risks - Mortgage Insurer Concentration (Details) - Mortgage insurance coverage	12 Months Ended
	Dec. 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	20.00%	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	14.00%	15.00%
Essent Guaranty Inc. [Member]
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	12.00%
Total
Concentration Risk [Line Items]
Concentration risk percentage	91.00%	91.00%

Fair Value Disclosures (Details

Fair Value Disclosures (Details) $ in Billions	Dec. 31, 2017USD ($)
Fair Value Disclosures [Abstract]
Change To Fair Value Of Mortgage Loans Without Benefits Reflected In The Pricing Of Harp Loans	$ 2.1
Total Fair Value Of The HARP Loans Presented In Consolidated Fair Value Balance Sheets	$ 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	Dec. 31, 2018	Dec. 31, 2017
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	$ 33,563	$ 43,597
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	23,106	20,054
Derivative Assets Net [Abstract]
Derivative Assets, net	335	375
Other Assets [Abstract]
Total other assets	3,929	3,353
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	5,112	5,799
Derivative Liabilities Net [Abstract]
Total Derivative Liabilities, net	583	269
Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	755	639
Other Derivative [Member]
Derivative Assets Net [Abstract]
Derivative Assets, net	91	52
Derivative Liabilities Net [Abstract]
Total Derivative Liabilities, net	317	129
Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	30,199	37,166
Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,706	2,053
Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,403	3,933
Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	18	88
Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	237	357
Fair Value, Measurements, Recurring
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	33,563	43,597
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	35,548	40,721
Total investments in securities	69,111	84,318
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	23,106	20,054
Derivative Assets Net [Abstract]
Derivative assets at fair value	6,418	8,838
Netting Adjustment	(6,083)	(8,463)
Derivative Assets, net	335	375
Other Assets [Abstract]
Guarantee Assets	3,633	3,171
Non Derivative HFS Purchase Commitments Assets	159	137
All Other Assets Fair Value Disclosure	137	45
Total other assets	3,929	3,353
Total Assets at Fair value	96,481	108,100
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	4,428	7,489
Netting Adjustment	(3,845)	(7,220)
Total Derivative Liabilities, net	583	269
Other Liabilities [Abstract]
Non Derivative HFS Purchase Commitment Liabilities	17	4
Total liabilities carried at fair value on a recurring basis	5,712	6,072
Fair Value, Measurements, Recurring | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	755	639
Fair Value, Measurements, Recurring | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	4,357	5,160
Fair Value, Measurements, Recurring | Interest Rate Swap [Member]
Derivative Assets Net [Abstract]
Derivative assets at fair value	2,127	4,262
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	3,974	7,239
Fair Value, Measurements, Recurring | Option-Based Derivatives [Member]
Derivative Assets Net [Abstract]
Derivative assets at fair value	4,200	4,524
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	137	121
Fair Value, Measurements, Recurring | Other Derivative [Member]
Derivative Assets Net [Abstract]
Derivative assets at fair value	91	52
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	317	129
Fair Value, Measurements, Recurring | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	16,373	17,902
Fair Value, Measurements, Recurring | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	30,199	37,166
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	13,821	14,300
Fair Value, Measurements, Recurring | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,706	2,053
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	2,551	3,574
Fair Value, Measurements, Recurring | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,403	3,933
Fair Value, Measurements, Recurring | Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	18	88
Fair Value, Measurements, Recurring | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	237	357
Fair Value, Measurements, Recurring | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1	28
Fair Value, Measurements, Recurring | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	19,175	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	15,885	20,159
Total investments in securities	15,885	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 HFS Purchase Commitments Assets	0	0
All Other Assets Fair Value Disclosure	0	0
Total other assets	0	0
Total Assets at Fair value	15,885	20,159
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Total Derivative Liabilities, net	0	0
Other Liabilities [Abstract]
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 securities recorded at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Interest Rate Swap [Member]
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 [Member]
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 [Member]
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 | 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	15,885	20,159
Fair Value, Measurements, Recurring | Level 2
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	27,788	32,509
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	16,369	17,645
Total investments in securities	44,157	50,154
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	23,106	20,054
Derivative Assets Net [Abstract]
Derivative assets at fair value	6,417	8,830
Derivative Assets, net	6,417	8,830
Other Assets [Abstract]
Guarantee Assets	0	0
Non Derivative HFS Purchase Commitments Assets	159	137
All Other Assets Fair Value Disclosure	0	0
Total other assets	159	137
Total Assets at Fair value	73,839	79,175
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	4,336	7,424
Total Derivative Liabilities, net	4,336	7,424
Other Liabilities [Abstract]
Non Derivative HFS Purchase Commitment Liabilities	17	4
Total liabilities carried at fair value on a recurring basis	8,603	12,460
Fair Value, Measurements, Recurring | Level 2 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	27	9
Fair Value, Measurements, Recurring | Level 2 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	4,223	5,023
Fair Value, Measurements, Recurring | Level 2 | Interest Rate Swap [Member]
Derivative Assets Net [Abstract]
Derivative assets at fair value	2,127	4,262
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	3,974	7,239
Fair Value, Measurements, Recurring | Level 2 | Option-Based Derivatives [Member]
Derivative Assets Net [Abstract]
Derivative assets at fair value	4,200	4,524
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	137	121
Fair Value, Measurements, Recurring | Level 2 | Other Derivative [Member]
Derivative Assets Net [Abstract]
Derivative assets at fair value	90	44
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	225	64
Fair Value, Measurements, Recurring | Level 2 | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	13,079	14,985
Fair Value, Measurements, Recurring | Level 2 | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	26,102	30,415
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	10,535	11,393
Fair Value, Measurements, Recurring | Level 2 | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,668	2,007
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	2,544	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	18	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	0	27
Fair Value, Measurements, Recurring | Level 2 | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,290	2,660
Fair Value, Measurements, Recurring | Level 3
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	5,775	11,088
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,294	2,917
Total investments in securities	9,069	14,005
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative assets at fair value	1	8
Derivative Assets, net	1	8
Other Assets [Abstract]
Guarantee Assets	3,633	3,171
Non Derivative HFS Purchase Commitments Assets	0	0
All Other Assets Fair Value Disclosure	137	45
Total other assets	3,770	3,216
Total Assets at Fair value	12,840	17,229
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	92	65
Total Derivative Liabilities, net	92	65
Other Liabilities [Abstract]
Non Derivative HFS Purchase Commitment Liabilities	0	0
Total liabilities carried at fair value on a recurring basis	954	832
Fair Value, Measurements, Recurring | Level 3 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	728	630
Fair Value, Measurements, Recurring | Level 3 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt securities recorded at fair value	134	137
Fair Value, Measurements, Recurring | Level 3 | Interest Rate Swap [Member]
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 [Member]
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 [Member]
Derivative Assets Net [Abstract]
Derivative assets at fair value	1	8
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	92	65
Fair Value, Measurements, Recurring | Level 3 | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,294	2,917
Fair Value, Measurements, Recurring | Level 3 | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	4,097	6,751
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,286	2,907
Fair Value, Measurements, Recurring | Level 3 | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	38	46
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	7	9
Fair Value, Measurements, Recurring | Level 3 | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,403	3,933
Fair Value, Measurements, Recurring | Level 3 | Non-agency CMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	0	1
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	237	357
Fair Value, Measurements, Recurring | Level 3 | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1	1
Fair Value, Measurements, Recurring | Level 3 | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	$ 0	$ 0

Fair Value Disclosures - Asse_2

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	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
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	2	50
Sales	0	0
Settlements, Net	(5)	(8)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	134	137
Unrealized (Gains) Losses Still Held - Liabilities	0	0
Debt | Held by consolidated trusts
Liabilities:
Begining Balance	630	0
Included in Earnings	(2)	0
Included in Other Comprehensive Income	0	0
Total realized and unrealized (gains) losses	(2)	0
Purchases	0	0
Issues	100	630
Sales	0	0
Settlements, Net	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	728	630
Unrealized (Gains) Losses Still Held - Liabilities	(2)	0
Net Derivatives
Net Derivative Liability
Beginning Balance	57	52
Included in Earnings	37	40
Included in Other Comprehensive Income	0	0
Total realized and unrealized (gains) losses	37	40
Purchases	0	0
Issues	15	(10)
Sales	0	0
Settlements, Net	(18)	(25)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	91	57
Unrealized (Gains) Losses Still Held - Net Derivative Liability	20	20
Available-for-sale securities
Assets:
Beginning Balance	11,088	25,741
Included in Earnings	917	1,900
Included in Other Comprehensive Income	(858)	(291)
Total realized and unrealized gains (losses)	59	1,609
Purchases	56	2,175
Issues	0	0
Sales	(4,027)	(12,176)
Settlements, net	(1,400)	(3,175)
Transfers into Level 3	0	17
Transfers out of Level 3	(1)	(3,103)
Ending Balance	5,775	11,088
Unrealized Gains (Losses) Still Held - Assets	16	104
Available-for-sale securities | Freddie Mac
Assets:
Beginning Balance	6,751	9,847
Included in Earnings	(31)	(12)
Included in Other Comprehensive Income	(213)	103
Total realized and unrealized gains (losses)	(244)	91
Purchases	56	2,175
Issues	0	0
Sales	(1,546)	(932)
Settlements, net	(920)	(1,352)
Transfers into Level 3	0	17
Transfers out of Level 3	0	(3,095)
Ending Balance	4,097	6,751
Unrealized Gains (Losses) Still Held - Assets	(7)	(22)
Available-for-sale securities | Other agency
Assets:
Beginning Balance	46	66
Included in Earnings	0	0
Included in Other Comprehensive Income	(1)	(1)
Total realized and unrealized gains (losses)	(1)	(1)
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	(6)	(11)
Transfers into Level 3	0	0
Transfers out of Level 3	(1)	(8)
Ending Balance	38	46
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	948	1,564
Included in Other Comprehensive Income	(641)	(270)
Total realized and unrealized gains (losses)	307	1,294
Purchases	0	0
Issues	0	0
Sales	(2,481)	(7,688)
Settlements, net	(356)	(1,470)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1,403	3,933
Unrealized Gains (Losses) Still Held - Assets	23	124
Available-for-sale securities | Non-agency CMBS
Assets:
Beginning Balance	1	3,366
Included in Earnings	0	347
Included in Other Comprehensive Income	0	(120)
Total realized and unrealized gains (losses)	0	227
Purchases	0	0
Issues	0	0
Sales	0	(3,556)
Settlements, net	(1)	(36)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	0	1
Unrealized Gains (Losses) Still Held - Assets	0	2
Available-for-sale securities | Obligations of states and political subdivisions
Assets:
Beginning Balance	357	665
Included in Earnings	0	1
Included in Other Comprehensive Income	(3)	(3)
Total realized and unrealized gains (losses)	(3)	(2)
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	(117)	(306)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	237	357
Unrealized Gains (Losses) Still Held - Assets	0	0
Trading securities
Assets:
Beginning Balance	2,917	1,220
Included in Earnings	(517)	(139)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(517)	(139)
Purchases	1,484	2,655
Issues	0	0
Sales	(1,058)	(592)
Settlements, net	(79)	(36)
Transfers into Level 3	579	14
Transfers out of Level 3	(32)	(205)
Ending Balance	3,294	2,917
Unrealized Gains (Losses) Still Held - Assets	(449)	(128)
Trading securities | Freddie Mac
Assets:
Beginning Balance	2,907	1,207
Included in Earnings	(515)	(136)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(515)	(136)
Purchases	1,484	2,655
Issues	0	0
Sales	(1,058)	(592)
Settlements, net	(79)	(36)
Transfers into Level 3	579	14
Transfers out of Level 3	(32)	(205)
Ending Balance	3,286	2,907
Unrealized Gains (Losses) Still Held - Assets	(448)	(125)
Trading securities | Other agency
Assets:
Beginning Balance	9	12
Included in Earnings	(2)	(3)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(2)	(3)
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	7	9
Unrealized Gains (Losses) Still Held - Assets	(1)	(3)
Trading securities | All other
Assets:
Beginning Balance	1	1
Included in Earnings	0	0
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	0	0
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1	1
Unrealized Gains (Losses) Still Held - Assets	0	0
Other Asset [Member]
Assets:
Beginning Balance	3,216	2,300
Included in Earnings	(52)	(37)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(52)	(37)
Purchases	102	33
Issues	1,149	1,418
Sales	(57)	(11)
Settlements, net	(588)	(487)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	3,770	3,216
Unrealized Gains (Losses) Still Held - Assets	(55)	(36)
Guarantee Asset
Assets:
Beginning Balance	3,171	2,298
Included in Earnings	(80)	(27)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(80)	(27)
Purchases	0	0
Issues	1,118	1,387
Sales	0	0
Settlements, net	(576)	(487)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	3,633	3,171
Unrealized Gains (Losses) Still Held - Assets	(80)	(26)
All Other Assets
Assets:
Beginning Balance	45	2
Included in Earnings	28	(10)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	28	(10)
Purchases	102	33
Issues	31	31
Sales	(57)	(11)
Settlements, net	(12)	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	137	45
Unrealized Gains (Losses) Still Held - Assets	$ 25	$ (10)

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	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	$ 33,563	$ 43,597
Liabilities [Abstract]
Debt securities recorded at fair value	5,112	5,799
Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	30,199	37,166
Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,403	3,933
Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	237	357
Fair Value, Measurements, Recurring
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	33,563	43,597
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	35,548	40,721
Other assets:
Guarantee Assets Fair Value Disclosure	3,633	3,171
Investments, Fair Value Disclosure	69,111	84,318
Fair Value, Measurements, Recurring | Mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	16,373	17,902
Fair Value, Measurements, Recurring | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	30,199	37,166
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	13,821	14,300
Fair Value, Measurements, Recurring | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,403	3,933
Fair Value, Measurements, Recurring | Obligations of states and political subdivisions
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	237	357
Fair Value, Measurements, Recurring | Level 3
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	5,775	11,088
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,294	2,917
Other assets:
Guarantee Assets Fair Value Disclosure	3,633	3,171
Insignificant level3 assets	184	110
Investments, Fair Value Disclosure	9,069	14,005
Total Level3 assets	12,840	17,229
Liabilities [Abstract]
Insignificant level3 liabilities	226	202
Fair Value, Measurements, Recurring | Level 3 | Mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,294	2,917
Fair Value, Measurements, Recurring | Level 3 | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	4,097	6,751
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,286	2,907
Fair Value, Measurements, Recurring | Level 3 | Freddie Mac | Single External Source
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,259	1,731
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,587	2,068
Fair Value, Measurements, Recurring | Level 3 | Freddie Mac | Discounted Cash Flows
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	2,838	5,020
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,178	582
Fair Value, Measurements, Recurring | Level 3 | Freddie Mac | Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	521	257
Fair Value, Measurements, Recurring | Level 3 | Non-agency RMBS
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,403	3,933
Fair Value, Measurements, Recurring | Level 3 | Non-agency RMBS | Median of External Sources
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	1,403	3,933
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	237	357
Fair Value, Measurements, Recurring | 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		$ 357
Fair Value, Measurements, Recurring | Level 3 | Obligations of states and political subdivisions | Single External Source
Available-For-Sale, at Fair Value:
Available-for-sale Securities, Fair Value Disclosure	$ 237
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Freddie Mac | Minimum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	96.1	97.1
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Freddie Mac | Minimum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.30%	0.27%
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Freddie Mac | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	102.3	108.5
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Freddie Mac | Weighted Average | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.81%	0.68%
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Freddie Mac | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	104.1	108.9
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Freddie Mac | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	3.25%	5.01%
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Non-agency RMBS | Minimum | Median of External Sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	64.3	75.6
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Non-agency RMBS | Weighted Average | Median of External Sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	67.3	77.7
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Non-agency RMBS | Maximum | Median of External Sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	71.1	80.8
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Obligations of states and political subdivisions | Minimum | Median of External Sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)		101.2
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Obligations of states and political subdivisions | Minimum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	93.1
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Obligations of states and political subdivisions | Weighted Average | Median of External Sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)		101.4
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Obligations of states and political subdivisions | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	100.7
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Obligations of states and political subdivisions | Maximum | Median of External Sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)		101.6
Fair Value, Measurements, Recurring | Level 3 | Available-for-sale securities | Obligations of states and political subdivisions | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	110.7
Fair Value, Measurements, Recurring | Level 3 | Trading securities | Freddie Mac | Minimum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	0	1.2
Fair Value, Measurements, Recurring | Level 3 | Trading securities | Freddie Mac | Minimum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	(219.45%)	(89.05%)
Fair Value, Measurements, Recurring | Level 3 | Trading securities | Freddie Mac | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	56.6	97.9
Fair Value, Measurements, Recurring | Level 3 | Trading securities | Freddie Mac | Weighted Average | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.90%	(0.88%)
Fair Value, Measurements, Recurring | Level 3 | Trading securities | Freddie Mac | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	99.2	101.3
Fair Value, Measurements, Recurring | Level 3 | Trading securities | Freddie Mac | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	66.39%	272.02%
Fair Value, Measurements, Recurring | Level 3 | Guarantee Asset | Discounted Cash Flows
Other assets:
Guarantee Assets Fair Value Disclosure	$ 3,391	$ 3,171
Fair Value, Measurements, Recurring | Level 3 | Guarantee Asset | Other
Other assets:
Guarantee Assets Fair Value Disclosure	$ 242
Fair Value, Measurements, Recurring | Level 3 | Guarantee Asset | Minimum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.17%	0.17%
Fair Value, Measurements, Recurring | Level 3 | Guarantee Asset | Weighted Average | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.49%	0.45%
Fair Value, Measurements, Recurring | Level 3 | Guarantee Asset | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	1.98%	1.98%
Held by consolidated trusts
Liabilities [Abstract]
Debt securities recorded at fair value	$ 755	$ 639
Held by consolidated trusts | Fair Value, Measurements, Recurring
Liabilities [Abstract]
Debt securities recorded at fair value	755	639
Held by consolidated trusts | Fair Value, Measurements, Recurring | Level 3
Liabilities [Abstract]
Debt securities recorded at fair value	728	630
Held by consolidated trusts | Fair Value, Measurements, Recurring | Level 3 | Single External Source
Liabilities [Abstract]
Debt securities recorded at fair value	$ 728	$ 630
Held by consolidated trusts | Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	99.6	100.1
Held by consolidated trusts | Fair Value, Measurements, Recurring | Level 3 | Debt | Minimum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	97.4	99.2
Held by consolidated trusts | Fair Value, Measurements, Recurring | Level 3 | Debt | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	101.1	100.2

Fair Value Disclosures - Asse_3

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	Dec. 31, 2018	Dec. 31, 2017
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 7,543	$ 6,693
Level 1
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	0	0
Level 2
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	24	494
Level 3
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 7,519	$ 6,199

Fair Value Disclosures - Quan_2

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	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	$ 7,543,000,000	$ 6,693,000,000
Level 3
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	7,519,000,000	6,199,000,000
Minimum | Internal model | Mortgage loans | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 3,000	$ 3,000
Housing Sales Index	0.44%	0.43%
Minimum | Median of External Sources | Mortgage loans | Level 3
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	36.2	36.5
Maximum | Internal model | Mortgage loans | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 750,500	$ 899,000
Housing Sales Index	4.80%	3.94%
Maximum | Median of External Sources | Mortgage loans | Level 3
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	94.6	94.9
Weighted Average | Internal model | Mortgage loans | Level 3
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 177,725	$ 176,558
Housing Sales Index	1.08%	1.02%
Weighted Average | Median of External Sources | Mortgage loans | Level 3
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	82.5	80.9

Fair Value Disclosures - Fair V

Fair Value Disclosures - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Financial Assets
Securities purchased under agreement to resell	$ 34,771	$ 55,903
Investments in Securities [Abstract]
Available-for-sale, at fair value	33,563	43,597
Mortgage Loans [Abstract]
Derivative Assets, net	335	375
Secured lending and other	1,805	1,269
Debt, net
Debt, net	5,112	5,799
Derivative liability, net	583	269
Held by consolidated trusts
Financial Assets
Securities purchased under agreement to resell	12,125	16,750
Debt, net
Debt, net	755	639
GAAP Carrying Amount
Financial Assets
Cash and Cash Equivalents	7,273	9,811
Securities purchased under agreement to resell	34,771	55,903
Investments in Securities [Abstract]
Available-for-sale, at fair value	33,563	43,597
Trading, at fair value	35,548	40,721
Total investments in securities	69,111	84,318
Mortgage Loans [Abstract]
Mortgage loans	1,926,978	1,871,217
Derivative Assets, net	335	375
Guarantee Assets	3,633	3,171
Non Derivative HFS Purchase Commitments Assets	159	137
Secured lending and other	1,805	1,269
Total Assets at Fair value	2,044,065	2,026,201
Debt, net
Debt, net	2,044,950	2,034,630
Derivative liability, net	583	269
Guarantee obligation	3,561	3,081
Non Derivative HFS Purchase Commitment Liabilities	17	4
Total Financial Liabilities	2,049,111	2,037,984
GAAP Carrying Amount | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,842,850	1,774,286
Debt, net
Debt, net	1,792,677	1,720,996
GAAP Carrying Amount | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	84,128	96,931
Debt, net
Debt, net	252,273	313,634
GAAP Carrying Amount | AmortizedCost
Mortgage Loans [Abstract]
Mortgage loans	1,900,000	1,800,000
Debt, net
Debt, net	2,000,000	2,000,000
GAAP Carrying Amount | LowerOfCostOrFairValue
Mortgage Loans [Abstract]
Mortgage loans	18,500	14,700
GAAP Carrying Amount | FV - NI
Mortgage Loans [Abstract]
Mortgage loans	23,100	20,100
Debt, net
Debt, net	5,100	5,800
Fair Value
Financial Assets
Cash and Cash Equivalents	7,273	9,811
Securities purchased under agreement to resell	34,771	55,903
Investments in Securities [Abstract]
Available-for-sale, at fair value	33,563	43,597
Trading, at fair value	35,548	40,721
Total investments in securities	69,111	84,318
Mortgage Loans [Abstract]
Mortgage loans	1,901,574	1,881,149
Derivative Assets, net	335	375
Netting Adjustment	(6,083)	(8,463)
Guarantee Assets	3,642	3,359
Non Derivative HFS Purchase Commitments Assets	161	192
Secured lending and other	1,068	1,269
Total Assets at Fair value	2,017,935	2,036,376
Debt, net
Debt, net	2,017,781	2,041,350
Derivative liability, net	583	269
Netting Adjustment	(3,845)	(7,220)
Guarantee obligation	4,146	3,742
Non Derivative HFS Purchase Commitment Liabilities	28	19
Total Financial Liabilities	2,022,538	2,045,380
Fair Value | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,815,416	1,781,048
Debt, net
Debt, net	1,762,609	1,723,770
Fair Value | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	86,158	100,101
Debt, net
Debt, net	255,172	317,580
Fair Value | Level 1
Financial Assets
Cash and Cash Equivalents	7,273	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	15,885	20,159
Total investments in securities	15,885	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
Secured lending and other	0	0
Total Assets at Fair value	23,158	29,970
Debt, net
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
Debt, net
Debt, net	0	0
Fair Value | Level 1 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	0	0
Debt, net
Debt, net	0	0
Fair Value | Level 2
Financial Assets
Cash and Cash Equivalents	0	0
Securities purchased under agreement to resell	34,771	55,903
Investments in Securities [Abstract]
Available-for-sale, at fair value	27,788	32,509
Trading, at fair value	16,369	17,645
Total investments in securities	44,157	50,154
Mortgage Loans [Abstract]
Mortgage loans	1,639,820	1,667,306
Derivative assets at fair value	6,417	8,830
Guarantee Assets	0	0
Non Derivative HFS Purchase Commitments Assets	159	137
Secured lending and other	195	473
Total Assets at Fair value	1,725,519	1,782,803
Debt, net
Debt, net	2,011,454	2,034,779
Derivative liabilities at fair value	4,336	7,424
Guarantee obligation	0	0
Non Derivative HFS Purchase Commitment Liabilities	17	4
Total Financial Liabilities	2,015,807	2,042,207
Fair Value | Level 2 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,605,874	1,635,137
Debt, net
Debt, net	1,759,911	1,721,091
Fair Value | Level 2 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	33,946	32,169
Debt, net
Debt, net	251,543	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	5,775	11,088
Trading, at fair value	3,294	2,917
Total investments in securities	9,069	14,005
Mortgage Loans [Abstract]
Mortgage loans	261,754	213,843
Derivative assets at fair value	1	8
Guarantee Assets	3,642	3,359
Non Derivative HFS Purchase Commitments Assets	2	55
Secured lending and other	873	796
Total Assets at Fair value	275,341	232,066
Debt, net
Debt, net	6,327	6,571
Derivative liabilities at fair value	92	65
Guarantee obligation	4,146	3,742
Non Derivative HFS Purchase Commitment Liabilities	11	15
Total Financial Liabilities	10,576	10,393
Fair Value | Level 3 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	209,542	145,911
Debt, net
Debt, net	2,698	2,679
Fair Value | Level 3 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	52,212	67,932
Debt, net
Debt, net	$ 3,629	$ 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	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans Held For Sale, Fair Value	$ 23,106	$ 20,054
Loans Held For Sale, Unpaid Principal Balance, With Fair Value Option Elected	22,693	19,762
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables	413	292
NonDerivativeHFSPurchaseCommitmentnet	142	133
Held by Freddie Mac
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	4,357	5,160
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	3,998	4,666
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	359	494
Held by consolidated trusts
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	728	630
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	730	630
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	(2)	0
Held by consolidated trusts | Interest-Only-Strip [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	$ 26	$ 9

Fair Value Disclosures - Change

Fair Value Disclosures - Changes in Fair Value under the FVO option (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Held by Freddie Mac
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 138	$ (212)	$ 0
Held by consolidated trusts
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	5	22	63
Loans Receivable
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	(745)	2	250
HFS loan purchase commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 777	$ 1,098	$ 663

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 (Details)

Regulatory Capital (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 08, 2008
Mortgage Banking [Abstract]
Capital Requirement For On Balance Sheet Assets	2.50%
Capital Requirement For Off Balance Sheet Obligations	0.45%
Critical Capital Requirement For On Balance Sheet Assets	1.25%
Critical Capital Requirement For Off Balance Sheet Obligations	0.25%
Number of days of net worth deficit requiring FHFA to place us into receivership	60 days
Aggregate Funding Received From Treasury Under Purchase Agreement	$ 71,600,000,000
Cash amount received as a result of issuing the initial liquidation preference	$ 0
Initial liquidation preference of senior preferred stock			$ 1,000,000,000
Increase in Senior Preferred Stock		$ 3,000,000,000

Regulatory Capital - Net Worth

Regulatory Capital - Net Worth and Minimum Capital (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Worth and Minimum Capital [Abstract]
GAAP net worth (deficit)	$ 4,477	$ (312)	$ 5,075	$ 2,940
Core capital (deficit)	(68,036)	(73,037)
Minimum capital requirement	17,553	18,431
Minimum capital surplus (deficit)	$ (85,589)	$ (91,468)

Selected Financial Statement _3

Selected Financial Statement Line Items - Significant Components of Other Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other income (loss):
Non-agency mortgage-related securities settlement and judgment	$ 338	$ 4,532	$ 0
Income on guarantee obligation	711	601	449
All other	(335)	(151)	354
Other income (loss)	$ 714	$ 4,982	$ 803

Selected Financial Statement _4

Selected Financial Statement Line Items - Significant Components of Other Assets and Other Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Other assets:
Real estate owned, net	$ 769	$ 892
Accounts and other receivables	2,447	6,924
Guarantee asset	3,633	3,171
Fixed assets	959	798
Secured lending and other	1,805	1,269
All other	1,363	636
Total other assets	10,976	13,690
Other liabilities:
Servicer liabilities	289	628
Guarantee obligation	3,561	3,081
Accounts payable and accrued expenses	1,014	754
Payables related to securities	0	2,813
Income tax payable	0	656
All other	1,534	1,036
Other liabilities	$ 6,398	$ 8,968