Federal Home Loan Mortgage (FMCC) 10-Q 1 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 16, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	FEDERAL HOME LOAN MORTGAGE CORP
Entity Central Index Key	0001026214
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		650,059,033
Entity Small Business	false
Entity Emerging Growth Company	false

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Interest income
Mortgage loans	$ 17,946	$ 15,951
Investments in securities	689	810
Other	351	214
Total interest income	18,986	16,975
Interest expense	(15,833)	(13,957)
Net interest income	3,153	3,018
Benefit (provision) for credit losses	135	(63)
Net interest income after benefit (provision) for credit losses	3,288	2,955
Non-interest income (loss)
Guarantee fee income	217	194
Mortgage loans gains (losses)	931	(215)
Investment securities gains (losses)	174	(232)
Debt gains (losses)	15	121
Derivative gains (losses)	(1,606)	1,830
Other income (loss)	34	131
Non-interest income (loss)	(235)	1,829
Non-interest expense
Salaries and employee benefits	(322)	(286)
Professional services	(105)	(102)
Other administrative expense	(151)	(132)
Total administrative expense	(578)	(520)
Real estate owned operations expense	(33)	(34)
Temporary Payroll Tax Cut Continuation Act of 2011 expense	(390)	(359)
Other expense	(287)	(197)
Non-interest expense	(1,288)	(1,110)
Income (loss) before income tax (expense) benefit	1,765	3,674
Income tax (expense) benefit	(358)	(748)
Net income (loss)	1,407	2,926
Other comprehensive income (loss), net of taxes and reclassification adjustments:
Changes in unrealized gains (losses) related to available-for-sale securities	246	(800)
Changes in unrealized gains (losses) related to cash flow hedge relationships	18	30
Changes in defined benefit plans	(6)	(6)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	258	(776)
Comprehensive income (loss)	1,665	2,150
Net income (loss)	1,407	2,926
Undistributed net worth sweep and senior preferred stock dividends	(1,665)	0
Net income (loss) attributable to common stockholders	$ (258)	$ 2,926
Net income (loss) per common share — basic and diluted	$ (0.08)	$ 0.90
Weighted average common shares outstanding (in millions) — basic and diluted	3,234	3,234

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents (Notes 1, 3, 14) (includes $735 and $596 of restricted cash and cash equivalents)	$ 6,239	$ 7,273
Securities purchased under agreements to resell (Notes 3, 10)	50,134	34,771
Investments in securities, at fair value (Note 7)	65,496	69,111
Mortgage loans held-for-sale (Notes 3, 4) (includes $20,576 and $23,106 at fair value)	39,818	41,622
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $5,546 and $6,139)	1,902,270	1,885,356
Accrued interest receivable (Note 3)	6,684	6,728
Derivative assets, net (Notes 9, 10)	1,146	335
Deferred tax assets, net (Note 12)	6,819	6,888
Other assets (Notes 3, 18) (includes $4,182 and $3,929 at fair value)	14,301	10,976
Total assets	2,092,907	2,063,060
Liabilities
Accrued interest payable (Note 3)	6,558	6,652
Debt, net (Notes 3, 8) (includes $5,067 and $5,112 at fair value)	2,073,614	2,044,950
Derivative liabilities, net (Notes 9, 10)	432	583
Other liabilities (Notes 3, 18)	7,638	6,398
Total liabilities	2,088,242	2,058,583
Commitments and contingencies (Notes 5, 9, 16)
Equity (Note 11)
Senior preferred stock (redemption value of $75,648 and $75,648)	72,648	72,648
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 650,059,033 shares and 650,058,775 shares outstanding	0	0
Additional paid-in capital	0	0
Retained earnings (accumulated deficit)	(78,330)	(78,260)
AOCI, net of taxes, related to:
Available-for-sale securities (includes $261 and $221, related to net unrealized gains on securities for which other-than-temporary impairment has been recognized in earnings)	329	83
Cash flow hedge relationships	(297)	(315)
Defined benefit plans	91	97
Total AOCI, net of taxes	123	(135)
Treasury stock, at cost, 75,804,853 shares and 75,805,111 shares	(3,885)	(3,885)
Total equity (See Note 11 for information on our dividend requirement to Treasury)	4,665	4,477
Total liabilities and equity	2,092,907	2,063,060
Consolidated Balance Sheet Line Item
Mortgage loans held-for-sale (Notes 3, 4) (includes $20,576 and $23,106 at fair value)	39,818	41,622
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $5,546 and $6,139)	1,902,270	1,885,356
Total assets	2,092,907	2,063,060
Debt, net (Notes 3, 8) (includes $5,067 and $5,112 at fair value)	2,073,614	2,044,950
Total liabilities	2,088,242	2,058,583
Held by consolidated trusts
Assets
Cash and cash equivalents (Notes 1, 3, 14) (includes $735 and $596 of restricted cash and cash equivalents)	696	567
Securities purchased under agreements to resell (Notes 3, 10)	13,500	12,125
Mortgage loans held-for-sale (Notes 3, 4) (includes $20,576 and $23,106 at fair value)	0	0
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $5,546 and $6,139)	1,858,079	1,842,850
Accrued interest receivable (Note 3)	5,991	5,914
Other assets (Notes 3, 18) (includes $4,182 and $3,929 at fair value)	2,321	1,631
Total assets	1,880,587	1,863,087
Liabilities
Accrued interest payable (Note 3)	5,386	5,335
Debt, net (Notes 3, 8) (includes $5,067 and $5,112 at fair value)	1,803,707	1,792,677
Total liabilities	1,809,093	1,798,012
Consolidated Balance Sheet Line Item
Mortgage loans held-for-sale (Notes 3, 4) (includes $20,576 and $23,106 at fair value)	0	0
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for loan losses of $5,546 and $6,139)	1,858,079	1,842,850
All other assets	22,508	20,237
Total assets	1,880,587	1,863,087
Debt, net (Notes 3, 8) (includes $5,067 and $5,112 at fair value)	1,803,707	1,792,677
All other liabilities	5,386	5,335
Total liabilities	$ 1,809,093	$ 1,798,012

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Restricted Cash and Cash Equivalents	$ 735,000,000	$ 596,000,000
Mortgages Held-for-sale, Fair Value Disclosure	20,576,000,000	23,106,000,000
Allowance for loan losses	5,546,000,000	6,139,000,000
Other Assets, Fair Value Disclosure	4,182,000,000	3,929,000,000
Debt instrument recorded at fair value	5,067,000,000	5,112,000,000
Senior preferred stock, at redemption value	$ 75,648,000,000	$ 75,648,000,000
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares Authorized	4,000,000,000	4,000,000,000
Common Stock, Shares, Issued	725,863,886	725,863,886
Common Stock, Shares, Outstanding	650,059,033	650,058,775
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	$ 261,000,000	$ 221,000,000
Treasury Stock, Shares	75,804,853	75,805,111

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, 2017	$ (312)	$ 72,336	$ 14,109	$ 0	$ 0	$ (83,261)	$ 389	$ (3,885)
Beginning balance, Shares at Dec. 31, 2017		1	464	650
Comprehensive income:
Net income (loss)	2,926					2,926
Other comprehensive income, net of taxes	(776)						(776)
Comprehensive income (loss)	2,150					2,926	(776)
Cumulative effect of change in accounting principle	0					(89)	89
Increase in liquidation preference	312	$ 312
Ending balance at Mar. 31, 2018	2,150	$ 72,648	$ 14,109	$ 0	0	(80,424)	(298)	(3,885)
Ending balance, Shares at Mar. 31, 2018		1	464	650
Beginning balance at Dec. 31, 2018	4,477	$ 72,648	$ 14,109	$ 0	0	(78,260)	(135)	(3,885)
Beginning balance, Shares at Dec. 31, 2018		1	464	650
Comprehensive income:
Net income (loss)	1,407					1,407
Other comprehensive income, net of taxes	258						258
Comprehensive income (loss)	1,665					1,407	258
Senior Preferred Stock Dividends Declared	(1,477)					(1,477)
Ending balance at Mar. 31, 2019	$ 4,665	$ 72,648	$ 14,109	$ 0	$ 0	$ (78,330)	$ 123	$ (3,885)
Ending balance, Shares at Mar. 31, 2019		1	464	650

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net Cash Provided by (Used in) Operating Activities	$ 4,274,000,000	$ 4,643,000,000
Cash flows from investing activities
Purchases of trading securities	(22,738,000,000)	(29,949,000,000)
Proceeds from sales of trading securities	23,099,000,000	32,487,000,000
Proceeds from maturities and repayments of trading securities	1,754,000,000	1,471,000,000
Purchases of available-for-sale securities	(2,298,000,000)	(4,266,000,000)
Proceeds from sales of available-for-sale securities	3,032,000,000	6,351,000,000
Proceeds from maturities and repayments of available-for-sale securities	932,000,000	1,541,000,000
Purchases of held-for-investment mortgage loans	(34,756,000,000)	(30,737,000,000)
Proceeds from sales of mortgage loans held-for-investment	2,308,000,000	2,282,000,000
Repayments of mortgage loans held-for-investment	52,425,000,000	60,542,000,000
Advances under secured lending arrangements	(7,997,000,000)	(4,944,000,000)
Repayments of secured lending arrangements	290,000,000	0
Net proceeds from dispositions of real estate owned and other recoveries	268,000,000	352,000,000
Net (increase) decrease in securities purchased under agreements to resell	(15,363,000,000)	14,075,000,000
Derivative premiums and terminations, swap collateral, and exchange settlement payments, net	(3,142,000,000)	2,958,000,000
Changes in other assets	(187,000,000)	(143,000,000)
Net Cash Provided by (Used in) Investing Activities	(2,373,000,000)	52,020,000,000
Cash flows from financing activities
Increase in liquidation preference of senior preferred stock	0	312,000,000
Payment of cash dividends on senior preferred stock	(1,477,000,000)	0
Changes in other liabilities	(1,000,000)	(1,000,000)
Net Cash Provided by (Used in) Financing Activities	(2,935,000,000)	(57,857,000,000)
Net increase (decrease) in cash and cash equivalents (includes restricted cash and cash equivalents)	(1,034,000,000)	(1,194,000,000)
Cash and cash equivalents (includes restricted cash and cash equivalents) at beginning of year	7,273,000,000	9,811,000,000
Cash and cash equivalents (includes restricted cash and cash equivalents) at end of period	6,239,000,000	8,617,000,000
Cash paid for:
Debt interest	17,366,000,000	16,306,000,000
Income taxes	0	0
Held by Freddie Mac
Cash flows from financing activities
Proceeds from issuance of debt	167,026,000,000	131,574,000,000
Repayments of debt	(150,248,000,000)	(166,686,000,000)
Held by consolidated trusts
Cash flows from financing activities
Proceeds from issuance of debt	36,092,000,000	42,558,000,000
Repayments of debt	(54,327,000,000)	$ (65,614,000,000)
Cash and cash equivalents (includes restricted cash and cash equivalents) at beginning of year	567,000,000
Cash and cash equivalents (includes restricted cash and cash equivalents) at end of period	$ 696,000,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Summary of Significant Accounting Policies Freddie Mac is a GSE chartered by Congress in 1970. Our public mission is to provide liquidity, stability, and affordability to the U.S. housing market. We are regulated by FHFA, the SEC, HUD, and Treasury, and are currently operating under the conservatorship of FHFA. For more information on the roles of FHFA and Treasury, see Note 2 in this Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31, 2018, or 2018 Annual Report. Throughout our unaudited condensed consolidated financial statements and related notes, we use certain acronyms and terms which are defined in the Glossary of our 2018 Annual Report. Throughout this Form 10-Q, we refer to the three months ended March 31, 2019, the three months ended December 31, 2018, the three months ended September 30, 2018, the three months ended June 30, 2018, and the three months ended March 31, 2018 as "1Q 2019," "4Q 2018," "3Q 2018," "2Q 2018," and "1Q 2018," respectively. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our 2018 Annual Report. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and include our accounts as well as the accounts of other entities in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated. We are operating under the basis that we will realize assets and satisfy liabilities in the normal course of business as a going concern and in accordance with the authority provided by FHFA to our Board of Directors to oversee management's conduct of our business operations. Certain amounts in prior periods' condensed consolidated financial statements have been reclassified to conform to the current presentation. In the opinion of management, our unaudited condensed consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary for a fair statement of our results. We evaluate the materiality of identified errors in the financial statements using both an income statement, or "rollover," and a balance sheet, or "iron curtain," approach, based on relevant quantitative and qualitative factors. Net income includes certain adjustments to correct immaterial errors related to previously reported periods. Use of Estimates The preparation of financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses, gains, and losses during the reporting period. Management has made significant estimates in preparing the financial statements for establishing the allowance for credit losses and valuing financial instruments and other assets and liabilities. Actual results could be different from these estimates. Recently Issued Accounting Guidance Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Condensed Consolidated Financial Statements ASU 2016-02 , Leases (Topic 842) The amendment in this Update addresses the accounting for lease arrangements. January 1, 2019 The adoption of the amendment did not have a material effect on our condensed consolidated financial statements or on our disclosures. 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 The adoption of the amendment did not have a material effect on our condensed consolidated financial statements or on our disclosures. 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 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Condensed Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on Consolidated Financial Statements ASU 2016-13 , 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, which includes executing our process for estimating the allowance for credit losses under the new standard in parallel with our existing process for estimating the allowance for credit losses under current GAAP and developing an appropriate governance process for our estimate of expected credit losses under the new standard. 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 early adopted the amendments to remove or modify certain disclosures, which did not have a material effect on our consolidated financial statements. We are delaying adoption of the amendments to add certain disclosures until their effective date. We do not expect that the adoption of the additional disclosures will have a material effect on 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 2018-17 , 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 do not expect that the adoption of these amendments will have a material effect on our consolidated financial statements. ASU 2019-01 , Leases (Topic 842): Narrow-Scope Improvements for Lessors The amendments in this Update provide guidance for the: (1) lessor's fair value determination of the lease's underlying asset; (2) lessor's statement of cash flows presentation of cash received from sales-type and direct financing leases; and (3) removal of interim transition disclosure requirements related to changes in accounting principles. January 1, 2020 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	3 Months Ended
	Mar. 31, 2019
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. Impact of Conservatorship and Related Developments on the Mortgage-Related Investments Portfolio In February 2019, FHFA directed us to maintain the UPB of our mortgage-related investments portfolio at or below $225 billion at all times, and the UPB of this portfolio was $218.9 billion at March 31, 2019 . Our ability to acquire and sell mortgage assets continues to be significantly constrained by limitations imposed by the Purchase Agreement and FHFA. Government Support for Our Business We receive substantial support from Treasury and are dependent upon its continued support in order to continue operating our business. Our ability to access funds from Treasury under the Purchase Agreement is critical to: n Keeping us solvent; n Allowing us to focus on our primary business objectives under conservatorship; and n Avoiding the appointment of a receiver by FHFA under statutory mandatory receivership provisions. At December 31, 2018, our assets exceeded our liabilities under GAAP; therefore, FHFA, as Conservator, 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 1Q 2019. The amount of available funding remaining under the Purchase Agreement is $140.2 billion and will be reduced by any future draws. See Note 8 and Note 11 for more information on the conservatorship and the Purchase Agreement. Related Parties As a Result of Conservatorship We are deemed related parties with Fannie Mae as both we and Fannie Mae have the same relationships with FHFA and Treasury. CSS was formed in 2013 as a limited liability company equally-owned by Freddie Mac and Fannie Mae. Therefore, CSS is also deemed a related party. During 1Q 2019, we contributed $36 million of capital to CSS, and we have contributed $500 million since the fourth quarter of 2014.

Securitization Activities and C

Securitization Activities and Consolidation	3 Months Ended
	Mar. 31, 2019
Securitization Activities and Consolidation [Abstract]
Variable Interest Entity Disclosure [Text Block]	Securitization Activities and Consolidation Our primary business activities in our Single-family Guarantee and Multifamily segments involve the securitization of loans or other mortgage-related assets using trusts that are VIEs. These trusts issue beneficial interests in the loans or other mortgage-related assets that they own. We guarantee the principal and interest payments on some or all of the issued beneficial interests in substantially all of our securitization transactions. We consolidate VIEs when we have a controlling financial interest in the VIE and are therefore considered the primary beneficiary of the VIE. See Note 5 for additional information on our guarantee activities. Consolidated VIEs The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on our condensed consolidated balance sheets. Table 3.1 - Consolidated VIEs (In millions) As of March 31, 2019 As of December 31, 2018 Consolidated Balance Sheet Line Item Assets: Cash and cash equivalents (includes $695 and $566 of restricted cash and cash equivalents) $696 $567 Securities purchased under agreements to resell 13,500 12,125 Mortgage loans held-for-investment 1,858,079 1,842,850 Accrued interest receivable 5,991 5,914 Other assets 2,321 1,631 Total assets of consolidated VIEs $1,880,587 $1,863,087 Liabilities: Accrued interest payable $5,386 $5,335 Debt, net 1,803,707 1,792,677 Total liabilities of consolidated VIEs $1,809,093 $1,798,012 Non-Consolidated VIEs Our involvement with VIEs for which we are not the primary beneficiary takes one or both of two forms - purchasing an investment in these entities or providing a guarantee to these entities. The following table presents the carrying amounts and classification of the assets and liabilities recorded on our condensed consolidated balance sheets related to non-consolidated VIEs with which we were involved in the design and creation and have a significant continuing involvement, as well as our maximum exposure to loss. We do not believe the maximum exposure to loss disclosed in the table below is representative of the actual loss we are likely to incur, based on our historical loss experience and after consideration of proceeds from related collateral liquidation, including possible recoveries under credit enhancement arrangements. See Note 6 for additional information on credit enhancement arrangements. Table 3.2 - Non-Consolidated VIEs (In millions) As of March 31, 2019 As of December 31, 2018 Assets and Liabilities Recorded on our Condensed Consolidated Balance Sheets (1) Assets: Investments in securities, at fair value $42,219 $44,020 Accrued interest receivable 213 235 Derivative assets, net 9 1 Other assets 3,272 3,119 Liabilities: Derivative liabilities, net 82 88 Other liabilities 3,111 3,049 Maximum Exposure to Loss (2)(3) $248,263 $241,055 Total Assets of Non-Consolidated VIEs (3) $294,746 $284,724 (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 condensed 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. To the extent that we were not involved in the design and creation of these VIEs, they are excluded from the table above. Our interests in these VIEs are generally passive in nature and are not expected to result in us obtaining a controlling financial interest in these VIEs in the future.

Mortgage Loans and Loan Loss Re

Mortgage Loans and Loan Loss Reserves	3 Months Ended
	Mar. 31, 2019
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 condensed consolidated balance sheets as of March 31, 2019 and December 31, 2018. Table 4.1 - Mortgage Loans March 31, 2019 December 31, 2018 (In millions) Held by Freddie Mac Held by Total Held by Freddie Mac Held by Total Held-for-sale: Single-family $21,696 $— $21,696 $20,946 $— $20,946 Multifamily 21,220 — 21,220 23,959 — 23,959 Total UPB 42,916 — 42,916 44,905 — 44,905 Cost basis and fair value adjustments, net (3,098 ) — (3,098 ) (3,283 ) — (3,283 ) Total held-for-sale loans, net 39,818 — 39,818 41,622 — 41,622 Held-for-investment: Single-family 36,892 1,827,546 1,864,438 35,885 1,814,008 1,849,893 Multifamily 10,654 3,968 14,622 10,828 4,220 15,048 Total UPB 47,546 1,831,514 1,879,060 46,713 1,818,228 1,864,941 Cost basis adjustments (882 ) 29,638 28,756 (1,198 ) 27,752 26,554 Allowance for loan losses (2,473 ) (3,073 ) (5,546 ) (3,009 ) (3,130 ) (6,139 ) Total held-for-investment loans, net 44,191 1,858,079 1,902,270 42,506 1,842,850 1,885,356 Total mortgage loans, net $84,009 $1,858,079 $1,942,088 $84,128 $1,842,850 $1,926,978 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) 1Q 2019 1Q 2018 Single-family: Purchases Held-for-investment loans $69.7 $65.5 Reclassified from held-for-investment to held-for-sale (1) 4.1 1.7 Sale of held-for-sale loans (2) 2.1 1.8 Multifamily: Purchases Held-for-investment loans 1.0 1.0 Held-for-sale loans 11.6 11.8 Reclassified from held-for-investment to held-for-sale (1) 0.5 0.3 Sale of held-for-sale loans (3) 14.7 16.2 (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 mortgage 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. 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 March 31, 2019 December 31, 2018 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 $1,354,643 $221,796 $5,721 $1,582,160 $1,336,310 $214,703 $6,654 $1,557,667 15-year amortizing fixed-rate 245,503 4,366 130 249,999 251,152 4,522 157 255,831 Adjustable-rate 41,593 1,930 8 43,531 42,117 1,883 7 44,007 Alt-A, interest-only, and option ARM 15,490 1,610 422 17,522 16,498 1,903 559 18,960 Total single-family loans $1,657,229 $229,702 $6,281 $1,893,212 $1,646,077 $223,011 $7,377 $1,876,465 (1) The serious delinquency rate for the total of single-family held-for-investment mortgage loans with current LTV ratios in excess of 100% was 6.89% and 7.24% as of March 31, 2019 and December 31, 2018 , 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) March 31, 2019 December 31, 2018 Credit risk profile by internally assigned grade: (1) Pass $14,275 $14,648 Special mention 117 201 Substandard 212 181 Doubtful — — Total $14,604 $15,030 (1) A loan categorized as: "Pass" is current and adequately protected by the current financial strength and debt service capacity of the borrower; "Special mention" has administrative issues that may affect future repayment prospects but does not have current credit weaknesses; "Substandard" has a weakness that jeopardizes the timely full repayment; and "Doubtful" has a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions. Mortgage Loan Performance The tables below present the recorded investment of our single-family and multifamily loans, held-for-investment, by payment status. Table 4.5 - Recorded Investment of Held-for-Investment Loans by Payment Status March 31, 2019 (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 $1,558,264 $14,059 $3,359 $6,478 $1,582,160 $6,476 15-year amortizing fixed-rate 248,583 991 166 259 249,999 259 Adjustable-rate 43,092 272 58 109 43,531 109 Alt-A, interest-only, and option ARM 15,715 782 280 745 17,522 745 Total single-family 1,865,654 16,104 3,863 7,591 1,893,212 7,589 Total multifamily 14,604 — — — 14,604 14 Total single-family and multifamily $1,880,258 $16,104 $3,863 $7,591 $1,907,816 $7,603 December 31, 2018 (In millions) Current One Two Three Months or (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 (1) Includes $2.6 billion and $2.9 billion of single-family loans that were in the process of foreclosure as of March 31, 2019 and December 31, 2018 , 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) March 31, 2019 December 31, 2018 Single-family: Non-credit-enhanced portfolio Serious delinquency rate 0.82 % 0.83 % Total number of seriously delinquent loans 49,009 51,197 Credit-enhanced portfolio: (1) Primary mortgage insurance: Serious delinquency rate 0.82 % 0.86 % Total number of seriously delinquent loans 14,841 15,287 Other credit protection: (2) Serious delinquency rate 0.31 % 0.31 % Total number of seriously delinquent loans 13,817 12,920 Total single-family: Serious delinquency rate 0.67 % 0.69 % Total number of seriously delinquent loans 73,574 75,649 Multifamily: (3) Non-credit-enhanced portfolio: Delinquency rate — % — % UPB of delinquent loans $2 $2 Credit-enhanced portfolio: Delinquency rate 0.03 % 0.01 % UPB of delinquent loans $70 $28 Total multifamily: Delinquency rate 0.03 % 0.01 % UPB of delinquent loans $72 $30 (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. 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 condensed consolidated statements of comprehensive income. The allowance for credit losses includes: n Our allowance for loan losses, which pertains to all single-family and multifamily loans classified as held-for-investment on our condensed consolidated balance sheets and n Our reserve for guarantee losses, which pertains to single-family and multifamily loans underlying our senior subordinate securitization structures (non-consolidated), other securitization products, and other mortgage-related guarantees. Table 4.7 - Details of Allowance for Credit Losses The table below summarizes changes in our allowance for credit losses. 1Q 2019 1Q 2018 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 $3,003 $3,127 $46 $6,176 $5,251 $3,680 $48 $8,979 Provision (benefit) for credit losses (201 ) 64 1 (136 ) 98 (21 ) 2 79 Charge-offs (585 ) (19 ) (1 ) (605 ) (355 ) (15 ) (2 ) (372 ) Recoveries 103 3 — 106 95 1 — 96 Transfers, net (1) 107 (107 ) — — 126 (126 ) — — Other (2) 38 3 — 41 90 5 — 95 Single-family ending balance 2,465 3,071 46 5,582 5,305 3,524 48 8,877 Multifamily ending balance 8 2 5 15 17 2 7 26 Total ending balance $2,473 $3,073 $51 $5,597 $5,322 $3,526 $55 $8,903 (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. A significant number of unsecuritized single-family loans on our condensed consolidated balance sheets are individually evaluated for impairment while substantially all single-family loans held by our consolidated trusts are collectively evaluated for impairment. The allowance for loan losses associated with our held-for-investment unsecuritized loans represented approximately 5.3% and 6.6% of the recorded investment in such loans at March 31, 2019 and December 31, 2018 , respectively, and a substantial portion of the allowance associated with these loans represented interest rate concessions provided to borrowers as part of loan modifications. The allowance for loan losses associated with loans held by our consolidated trusts represented approximately 0.2% of the recorded investment in such loans as of both March 31, 2019 and December 31, 2018 . The table below presents our allowance for loan losses and our recorded investment in loans, held-for-investment, by impairment evaluation methodology. Table 4.8 - Net Investment in Loans March 31, 2019 December 31, 2018 (In millions) Single-family Multifamily Total Single-family Multifamily Total Recorded investment: Collectively evaluated $1,849,607 $14,521 $1,864,128 $1,830,044 $14,945 $1,844,989 Individually evaluated 43,605 83 43,688 46,421 85 46,506 Total recorded investment 1,893,212 14,604 1,907,816 1,876,465 15,030 1,891,495 Ending balance of the allowance for loan losses: Collectively evaluated (1,716 ) (10 ) (1,726 ) (1,761 ) (9 ) (1,770 ) Individually evaluated (3,820 ) — (3,820 ) (4,369 ) — (4,369 ) Total ending balance of the allowance (5,536 ) (10 ) (5,546 ) (6,130 ) (9 ) (6,139 ) Net investment in loans $1,887,676 $14,594 $1,902,270 $1,870,335 $15,021 $1,885,356 Allowance for Loan Losses Determined on an Individual Basis Impaired Loans The tables below present the UPB, recorded investment, related allowance for loan losses, average recorded investment, and interest income recognized for individually impaired loans. Table 4.9 - Individually Impaired Loans March 31, 2019 December 31, 2018 (In millions) UPB Recorded Investment Associated Allowance UPB Recorded Investment Associated Single-family: With no allowance recorded: (1) 20- and 30-year or more, amortizing fixed-rate $3,336 $2,645 N/A $3,335 $2,666 N/A 15-year amortizing fixed-rate 21 21 N/A 23 22 N/A Adjustable-rate 222 220 N/A 227 226 N/A Alt-A, interest-only, and option ARM 1,128 954 N/A 1,286 1,083 N/A Total with no allowance recorded 4,707 3,840 N/A 4,871 3,997 N/A With an allowance recorded: (2) 20- and 30-year or more, amortizing fixed-rate 35,264 34,720 ($3,201 ) 37,579 36,959 ($3,660 ) 15-year amortizing fixed-rate 700 711 (18 ) 703 713 (19 ) Adjustable-rate 154 153 (8 ) 164 162 (8 ) Alt-A, interest-only, and option ARM 4,419 4,181 (593 ) 4,867 4,590 (682 ) Total with an allowance recorded 40,537 39,765 (3,820 ) 43,313 42,424 (4,369 ) Combined single-family: 20- and 30-year or more, amortizing fixed-rate 38,600 37,365 (3,201 ) 40,914 39,625 (3,660 ) 15-year amortizing fixed-rate 721 732 (18 ) 726 735 (19 ) Adjustable-rate 376 373 (8 ) 391 388 (8 ) Alt-A, interest-only, and option ARM 5,547 5,135 (593 ) 6,153 5,673 (682 ) Total single-family 45,244 43,605 (3,820 ) 48,184 46,421 (4,369 ) Multifamily: With no allowance recorded (1) 70 66 N/A 89 82 N/A With an allowance recorded 19 17 — 3 3 — Total multifamily 89 83 — 92 85 — Total single-family and multifamily $45,333 $43,688 ($3,820 ) $48,276 $46,506 ($4,369 ) Referenced footnotes are included after the next table. 1Q 2019 1Q 2018 (In millions) Average Interest Interest Income Recognized On Cash Basis (3) Average Recorded Investment Interest Income Recognized Interest Income Recognized On Cash Basis (3) Single-family: With no allowance recorded: (1) 20- and 30-year or more, amortizing fixed-rate $2,686 $73 $4 $3,311 $94 $7 15-year amortizing fixed-rate 21 — — 20 1 — Adjustable rate 224 3 — 263 3 — Alt-A, interest-only, and option ARM 981 18 1 1,356 23 1 Total with no allowance recorded 3,912 94 5 4,950 121 8 With an allowance recorded: (2) 20- and 30-year or more, amortizing fixed-rate 35,338 484 57 47,868 592 83 15-year amortizing fixed-rate 686 6 1 869 8 3 Adjustable rate 147 1 1 226 2 1 Alt-A, interest-only, and option ARM 4,325 62 7 6,834 80 9 Total with an allowance recorded 40,496 553 66 55,797 682 96 Combined single-family: 20- and 30-year or more, amortizing fixed-rate 38,024 557 61 51,179 686 90 15-year amortizing fixed-rate 707 6 1 889 9 3 Adjustable rate 371 4 1 489 5 1 Alt-A, interest-only, and option ARM 5,306 80 8 8,190 103 10 Total single-family 44,408 647 71 60,747 803 104 Multifamily: With no allowance recorded (1) 66 1 — 84 2 1 With an allowance recorded 16 — — 36 — — Total multifamily 82 1 — 120 2 1 Total single-family and multifamily $44,490 $648 $71 $60,867 $805 $105 (1) Individually impaired loans with no allowance primarily represent those loans for which the collateral value is sufficiently in excess of the loan balance to result in recovery of the entire recorded investment if the property were foreclosed upon or otherwise subject to disposition. (2) Consists primarily of loans classified as TDRs. (3) Consists of income recognized during the period related to loans on non-accrual status. Troubled Debt Restructurings (TDRs) The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs, based on the original product category of the loan before the loan was classified as a TDR. Loans classified as a TDR in one period may be subject to further action (such as a modification or remodification) in a subsequent period. In such cases, the subsequent action would not be reflected in the table below since the loan would already have been classified as a TDR. Table 4.10 - TDR Activity 1Q 2019 1Q 2018 (Dollars in millions) Number of Post-TDR Number of Post-TDR Single-family: (1) 20- and 30-year or more, amortizing fixed-rate 7,459 $1,200 19,699 $3,305 15-year amortizing fixed-rate 946 92 2,816 292 Adjustable-rate 157 25 319 57 Alt-A, interest-only, and option ARM 329 53 1,239 203 Total single-family 8,891 1,370 24,073 3,857 Multifamily — $— — $— (1) The pre-TDR recorded investment for single-family loans initially classified as TDR during 1Q 2019 and 1Q 2018 was $1.4 billion and $3.9 billion , respectively. Of the single-family loans that were newly classified as TDRs during 1Q 2019 and 1Q 2018, respectively: n 8% and 19% involved interest rate reductions and, in certain cases, term extensions; n 23% and 29% involved principal forbearance in addition to interest rate reductions and, in certain cases, term extensions; n The average term extension was 164 and 166 months; and n The average interest rate reduction was 0.1% and 0.4% . 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 4.11 - Payment Defaults of Completed TDR Modifications 1Q 2019 1Q 2018 (Dollars in millions) Number of Loans Post-TDR Recorded Investment Number of Loans Post-TDR Recorded Investment Single-family: 20- and 30-year or more, amortizing fixed-rate 3,856 $409 2,956 $443 15-year amortizing fixed-rate 125 7 170 15 Adjustable-rate 34 3 44 7 Alt-A, interest-only, and option ARM 310 44 275 54 Total single-family 4,325 463 3,445 519 Multifamily — $— — $— In addition, loans may be initially classified as TDRs as a result of other loss mitigation activities (i.e., repayment plans, forbearance agreements, or loans in modification trial periods). During 1Q 2019 and 1Q 2018, 1,464 and 1,710 , respectively, of such loans (with a post-TDR recorded investment of $0.2 billion for both periods) experienced a payment default within a year after the loss mitigation activity occurred. Non-Cash Investing and Financing Activities During 1Q 2019 and 1Q 2018, we acquired $37.0 billion and $36.1 billion , respectively, of loans held-for-investment in exchange for the issuance of debt securities of consolidated trusts in guarantor swap transactions. We received approximately $6.5 billion and $4.8 billion of loans from sellers during 1Q 2019 and 1Q 2018, respectively, to satisfy advances to lenders that were recorded in other assets on our condensed consolidated balance sheets. These loans were primarily included in the guarantor swap transactions.

Guarantee Activities

Guarantee Activities	3 Months Ended
	Mar. 31, 2019
Guarantees [Abstract]
GUARANTEE ACTIVITIES	Guarantee Activities We generate revenue through our guarantee activities by agreeing to absorb the credit risk associated with certain financial instruments that are owned or held by third parties. In exchange for providing this guarantee, we receive an ongoing guarantee fee that is commensurate with the risks assumed and that will, over the long-term, provide us with cash flows that are expected to exceed the credit-related and administrative expenses of the underlying financial instruments. The profitability of our guarantee activities may vary and will be dependent on our guarantee fee and the actual credit performance of the underlying financial instruments that we have guaranteed. The table below shows our maximum exposure, recognized liability, and maximum remaining term of our recognized guarantees to non-consolidated VIEs and other third parties. This table does not include our unrecognized guarantees, such as guarantees to consolidated VIEs or to resecuritization trusts that do not expose us to incremental credit risk. The maximum exposure disclosed in the table is not representative of the actual loss we are likely to incur, based on our historical loss experience and after consideration of proceeds from related collateral liquidation, including possible recoveries under credit enhancement arrangements. See Note 6 for additional information on our credit enhancement arrangements. Table 5.1 - Financial Guarantees March 31, 2019 December 31, 2018 ( Dollars in millions , terms in years) Maximum (1) Recognized (2) Maximum Maximum (1) Recognized (2) Maximum Single-family: Securitization activity guarantees $19,347 $242 40 $17,783 $220 40 Other mortgage-related guarantees 6,391 170 30 6,139 167 30 Total single-family $25,738 $412 $23,922 $387 Multifamily: Securitization activity guarantees $226,875 $2,808 39 $221,245 $2,746 40 Other mortgage-related guarantees 10,261 447 35 9,779 428 35 Total multifamily $237,136 $3,255 $231,024 $3,174 Other guarantees measured at fair value $22,568 $295 30 $16,251 $242 30 (1) The maximum exposure represents the contractual amounts that could be lost if counterparties or borrowers defaulted, without consideration of possible recoveries under credit enhancement arrangements, such as recourse provisions, third-party insurance contracts, or from collateral held or pledged. For other guarantees measured at fair value, this amount represents the notional value if it relates to our market value guarantees or guarantees of third-party derivative instruments or the UPB if it relates to a guarantee of a mortgage-related asset. For certain of our other guarantees measured at fair value, our exposure may be unlimited. We generally reduce our exposure to these guarantees with unlimited exposure through separate contracts with third parties. (2) For securitization activity guarantees and other mortgage-related guarantees, this amount represents the guarantee obligation on our condensed consolidated balance sheets. This amount excludes our reserve for guarantee losses, which totaled $51 million and $52 million as of March 31, 2019 and December 31, 2018 , respectively, and is included within other liabilities on our condensed consolidated balance sheets. For other guarantees measured at fair value, this amount represents the fair value of the contract.

Credit Enhancements

Credit Enhancements	3 Months Ended
	Mar. 31, 2019
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 condensed consolidated balance sheets or embedded in debt instruments recognized on our condensed consolidated balance sheets. 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 March 31, 2019 December 31, 2018 (In millions) Total Current and Protected UPB (1) Maximum Coverage Total Current and Protected UPB (1) Maximum Coverage Single-family: Primary mortgage insurance $385,483 $98,846 $378,594 $96,996 ACIS transactions (2) 853,942 9,803 807,885 9,123 STACR Trust transactions 222,837 6,966 161,152 5,026 Other 17,216 5,459 18,136 5,389 Total mortgage loan credit enhancements $121,074 $116,534 (1) Underlying loans may be covered by more than one form of credit enhancement. (2) As of March 31, 2019 and December 31, 2018, our counterparties posted collateral on our ACIS transactions of $1.8 billion and $1.5 billion , respectively. Guarantee Credit Enhancements The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to our single-family and multifamily guarantee credit enhancements. Table 6.2 - Guarantee Credit Enhancements March 31, 2019 December 31, 2018 (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) $17,724 $3,120 $16,271 $2,933 Other 1,201 1,201 1,226 1,226 Total single-family 4,321 4,159 Multifamily: Subordination (non-consolidated VIEs) 226,446 36,396 220,733 35,661 Other 2,267 793 2,349 815 Total multifamily 37,189 36,476 Total guarantee credit enhancements $41,510 $40,635 (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, which represents the UPB of the assets included in the trust net of the protection provided by the subordinated securities, and the UPB of guarantor advances made to the holders of the guaranteed securities. (2) For subordination, maximum coverage represents the outstanding UPB of the securities that are subordinate to Freddie Mac guaranteed securities 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 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 March 31, 2019 December 31, 2018 (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 $600,857 $17,464 $605,263 $17,596 Subordination (consolidated VIEs) 24,525 1,018 25,006 1,036 Total single-family 18,482 18,632 Multifamily: SCR notes 2,655 133 2,667 133 Subordination (consolidated VIEs) 2,700 280 2,700 280 Total multifamily 413 413 Total debt with embedded credit enhancements $18,895 $19,045 (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, which represents the UPB of the assets included in the trust net of the protection provided by the subordinated 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 outstanding UPB of the securities that are subordinate to Freddie Mac guaranteed securities and held by third parties.

Investments in Securities

Investments in Securities	3 Months Ended
	Mar. 31, 2019
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) March 31, 2019 December 31, 2018 Trading securities $33,552 $35,548 Available-for-sale securities 31,944 33,563 Total fair value of investments in securities $65,496 $69,111 As of March 31, 2019 and December 31, 2018, we did not classify any securities as held-to-maturity, although we may elect to do so in the future. Trading Securities The table below presents the estimated fair values of our trading securities by major security type. Our non-mortgage-related securities primarily consist of investments in U.S. Treasury securities. Table 7.2 - Trading Securities (In millions) March 31, 2019 December 31, 2018 Mortgage-related securities: Freddie Mac $13,310 $13,821 Other agency 2,788 2,551 Non-agency 1 1 Total mortgage-related securities 16,099 16,373 Non-mortgage-related securities 17,453 19,175 Total fair value of trading securities $33,552 $35,548 For trading securities held at March 31, 2019 and 2018, we recorded net unrealized gains (losses) of $97 million and ($212) million during 1Q 2019 and 1Q 2018, respectively. Available-for-Sale Securities At March 31, 2019 and December 31, 2018, 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 March 31, 2019 Amortized Gross Gross Unrealized Losses Fair (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $28,841 $378 $— ($309 ) $28,910 Other agency 1,367 23 — (8 ) 1,382 Non-agency and other 1,320 333 — (1 ) 1,652 Total available-for-sale securities $31,528 $734 $— ($318 ) $31,944 December 31, 2018 Amortized Gross Gross Unrealized Losses Fair (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 and other 1,378 282 — (2 ) 1,658 Total available-for-sale securities $33,460 $640 $— ($537 ) $33,563 (1) Represents the gross unrealized losses for securities for which we have previously recognized other-than-temporary impairment in earnings. (2) Represents the gross unrealized losses for securities for which we have not previously recognized other-than-temporary impairment in earnings. The fair value of our available-for-sale securities held at March 31, 2019 scheduled to contractually mature after ten years was $26.9 billion , with an additional $4.5 billion scheduled to contractually mature after five years through ten years. Available-for-Sale Securities in a Gross Unrealized Loss Position The tables below present available-for-sale securities in a gross unrealized loss position and whether such securities have been in an unrealized loss position for less than 12 months, or 12 months or greater. Table 7.4 - Available-for-Sale Securities in a Gross Unrealized Loss Position March 31, 2019 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 $2,627 ($7 ) $12,646 ($302 ) Other agency 323 (1 ) 579 (7 ) Non-agency and other 13 — 3 (1 ) Total available-for-sale securities in a gross unrealized loss position $2,963 ($8 ) $13,228 ($310 ) December 31, 2018 Less than 12 Months 12 Months or Greater (In millions) Fair Gross Unrealized Losses Fair Gross Unrealized Losses Available-for-sale securities: Freddie Mac $4,259 ($38 ) $14,751 ($490 ) Other agency 351 (1 ) 638 (6 ) Non-agency and other 43 (1 ) 6 (1 ) Total available-for-sale securities in a gross unrealized loss position $4,653 ($40 ) $15,395 ($497 ) At March 31, 2019 , the gross unrealized losses relate to 275 separate securities. Realized Gains and Losses on Sales of Available-for-Sale Securities The table below summarizes the gross realized gains and gross realized losses from the sale of available-for-sale securities. Table 7.5 - Gross Realized Gains and Gross Realized Losses from Sales of Available-for-Sale Securities (In millions) 1Q 2019 1Q 2018 Gross realized gains $63 $446 Gross realized losses (29 ) (51 ) Net realized gains (losses) $34 $395 Non-Cash Investing and Financing Activities During 1Q 2019, we purchased $1.4 billion and sold $1.6 billion of non-mortgage-related securities that were traded, but not settled. We settled our purchase and sale obligations during the second quarter of 2019.

Debt Securities and Subordinate

Debt Securities and Subordinated Borrowings	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
DEBT SECURITIES AND SUBORDINATED BORROWINGS	Debt Securities and Subordinated Borrowings The table below summarizes the balances of total debt, net per our condensed consolidated balance sheets and the interest expense per our condensed consolidated statements of comprehensive income. Table 8.1 - Total Debt, Net Balance, Net Interest Expense (In millions) March 31, 2019 December 31, 2018 1Q 2019 1Q 2018 Debt securities of consolidated trusts held by third parties $1,803,707 $1,792,677 $13,981 $12,514 Other debt: Short-term debt 77,130 51,080 436 229 Long-term debt 192,777 201,193 1,416 1,214 Total other debt 269,907 252,273 1,852 1,443 Total debt, net $2,073,614 $2,044,950 $15,833 $13,957 As of March 31, 2019, our aggregate indebtedness was $272.8 billion , which was below the $300.0 billion debt cap limit imposed by the Purchase Agreement for 2019. Our aggregate indebtedness calculation primarily includes the par value of other short- and long-term debt. Debt Securities of Consolidated Trusts Held by Third Parties The table below summarizes the debt securities of consolidated trusts held by third parties based on underlying loan product type. Table 8.2 - Debt Securities of Consolidated Trusts Held by Third Parties March 31, 2019 December 31, 2018 (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 $1,408,759 $1,445,766 3.73 % 2019 - 2057 $1,389,113 $1,426,060 3.72 % 20-year fixed-rate 2019 - 2039 69,854 71,618 3.43 2019 - 2039 70,547 72,354 3.43 15-year fixed-rate 2019 - 2034 234,062 238,129 2.89 2019 - 2034 240,310 244,587 2.89 Adjustable-rate 2019 - 2049 37,201 37,951 3.20 2019 - 2049 38,361 39,153 3.12 Interest-only 2026 - 2041 4,940 5,001 4.64 2026 - 2048 5,322 5,386 4.41 FHA/VA 2020 - 2046 696 713 4.76 2019 - 2046 720 736 4.78 Total single-family 1,755,512 1,799,178 1,744,373 1,788,276 Multifamily 2019-2047 4,515 4,529 3.70 2019 - 2047 4,365 4,401 4.02 Total debt securities of consolidated trusts held by third parties $1,760,027 $1,803,707 $1,748,738 $1,792,677 (1) Includes $737 million and $755 million at March 31, 2019 and December 31, 2018, respectively, of debt of consolidated trusts that represents the fair value of debt securities with the fair value option elected. (2) The effective interest rate for debt securities of consolidated trusts held by third parties was 3.10% and 3.07% as of March 31, 2019 and December 31, 2018, respectively. Other Debt The table below summarizes the balances and effective interest rates for other debt. Table 8.3 - Total Other Debt March 31, 2019 December 31, 2018 (Dollars in millions) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Other short-term debt: Discount notes and Reference Bills $45,854 $45,660 2.46 % $28,787 $28,621 2.36 % Medium-term notes 16,509 16,508 2.29 16,440 16,440 2.10 Securities sold under agreements to repurchase 14,962 14,962 2.50 6,019 6,019 2.40 Total other short-term debt 77,325 77,130 2.43 51,246 51,080 2.28 Other long-term debt: Original maturities on or before December 31, 2019 49,106 49,078 1.43 58,002 57,968 1.54 2020 40,721 40,705 1.82 42,296 42,275 1.78 2021 29,817 29,820 2.06 30,898 30,901 2.06 2022 23,253 23,228 2.50 20,802 20,775 2.46 2023 10,812 10,792 3.00 15,929 15,906 3.09 Thereafter 23,461 21,004 4.71 18,068 15,579 5.91 STACR and SCR debt (3) 17,597 17,876 6.19 17,729 18,004 6.04 Hedging-related basis adjustments N/A 274 N/A (215 ) Total other long-term debt 194,767 192,777 2.63 203,724 201,193 2.58 Total other debt (4) $272,092 $269,907 $254,970 $252,273 (1) Represents par value, net of associated discounts or premiums and issuance cost. Includes $4.3 billion and $4.4 billion at March 31, 2019 and December 31, 2018, respectively, of other long-term debt that represents the fair value of debt securities with the fair value option elected. (2) Based on carrying amount. (3) Contractual maturities of these debt securities are not presented because they are subject to prepayment risk, as their payments are based upon the performance of a pool of mortgage assets that may be prepaid by the related mortgage borrower at any time generally without penalty. (4) Carrying amount for other debt includes callable debt of $101.4 billion and $107.2 billion at March 31, 2019 and December 31, 2018, respectively.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	Derivatives Use of Derivatives We use derivatives primarily to hedge interest-rate sensitivity mismatches between our financial assets and liabilities. We analyze the interest-rate sensitivity of financial assets and liabilities on a daily basis across a variety of interest-rate scenarios based on market prices, models, and economics. When we use derivatives to mitigate our exposures, we consider a number of factors, including cost, exposure to counterparty risk, and our overall risk management strategy. We classify derivatives into three categories: n Exchange-traded derivatives; n Cleared derivatives; and n OTC derivatives. Exchange-traded derivatives include standardized interest-rate futures contracts and options on futures contracts. Cleared derivatives refer to those interest-rate swaps that the U.S. Commodity Futures Trading Commission has determined are subject to the central clearing requirement of the Dodd-Frank Act. OTC derivatives refer to those derivatives that are neither exchange-traded derivatives nor cleared derivatives. Types of Derivatives We principally use the following types of derivatives: n LIBOR- and SOFR-based interest-rate swaps; n LIBOR- and Treasury-based purchased options (including swaptions); and n LIBOR-, Treasury-, and SOFR-based exchange-traded futures. We also purchase swaptions on credit indices in order to obtain protection against adverse movements in multifamily spreads which may affect the profitability of our K Certificate or SB Certificate transactions. In addition to swaps, futures, and purchased options, our derivative positions include written options and swaptions, commitments, and credit derivatives. Hedge Accounting Fair Value Hedges We apply fair value hedge accounting to certain single-family mortgage loans and certain issuances of debt where we hedge the changes in fair value of these items attributable to the designated benchmark interest rate (i.e., LIBOR), using LIBOR-based interest-rate swaps. If a hedge relationship qualifies for fair value hedge accounting, all changes in fair value of the derivative hedging instrument, including interest accruals, are recognized in the same condensed consolidated statements of comprehensive income line item used to present the earnings effect of the hedged item. Therefore, changes in the fair value of the hedged item, mortgage loans and debt, attributable to the risk being hedged are recognized in interest income - mortgage loans and interest expense, respectively, along with the changes in the fair value of the respective derivative hedging instruments. Cash Flow Hedges There are amounts recorded in AOCI related to discontinued cash flow hedges which are recognized in earnings when the originally forecasted transactions affect earnings. Amounts reclassified from AOCI are recorded in interest expense. During 1Q 2019 and 1Q 2018, we reclassified from AOCI into earnings, pre-tax losses of $23 million and $38 million , respectively, related to closed cash flow hedges. See Note 11 for information about future reclassifications of deferred net losses related to closed cash flow hedges to net income. Derivative Assets and Liabilities at Fair Value The table below presents the notional value and fair value of derivatives reported on our condensed consolidated balance sheets. Table 9.1 - Derivative Assets and Liabilities at Fair Value March 31, 2019 December 31, 2018 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 $162,499 $1,637 ($103 ) $145,386 $1,380 ($181 ) Pay-fixed 192,212 126 (3,095 ) 170,899 476 (2,287 ) Basis (floating to floating) 5,924 — — 5,404 1 — Total interest-rate swaps 360,635 1,763 (3,198 ) 321,689 1,857 (2,468 ) Option-based: Call swaptions Purchased 54,250 2,458 — 43,625 2,007 — Written 6,900 — (186 ) 4,400 — (133 ) Put swaptions Purchased (1) 76,545 1,036 — 88,075 1,565 — Written 3,750 — (9 ) 1,750 — (4 ) Other option-based derivatives (2) 10,444 653 — 10,481 628 — Total option-based 151,889 4,147 (195 ) 148,331 4,200 (137 ) Futures 126,627 — — 161,185 — — Commitments 76,516 188 (245 ) 36,044 90 (179 ) Credit derivatives 1,966 — (34 ) 2,030 — (35 ) Other 15,412 10 (98 ) 12,212 1 (103 ) Total derivatives not designated as hedges 733,045 6,108 (3,770 ) 681,491 6,148 (2,922 ) Designated as fair value hedges Interest-rate swaps: Receive-fixed 111,898 45 (520 ) 117,038 23 (935 ) Pay-fixed 74,060 121 (450 ) 77,513 247 (571 ) Total derivatives designated as fair value hedges 185,958 166 (970 ) 194,551 270 (1,506 ) Derivative interest and other receivable (payable) 1,117 (979 ) 889 (1,096 ) Netting adjustments (3) (6,245 ) 5,287 (6,972 ) 4,941 Total derivative portfolio, net $919,003 $1,146 ($432 ) $876,042 $335 ($583 ) (1) Includes swaptions on credit indices with a notional or contractual amount of $30.2 billion and $45.9 billion at March 31, 2019 and December 31, 2018 , respectively, and a fair value of $9.0 million and $113.0 million at March 31, 2019 and December 31, 2018 , respectively. (2) Primarily consists of purchased interest-rate caps and floors. (3) Represents counterparty netting and cash collateral netting. See Note 10 for information related to our derivative counterparties and collateral held and posted. Gains and Losses on Derivatives The table below presents the gains and losses on derivatives, including the accrual of periodic cash settlements, while not designated in qualifying hedge relationships and reported on our condensed consolidated statements of comprehensive income as derivative gains (losses). Table 9.2 - Gains and Losses on Derivatives (In millions) 1Q 2019 1Q 2018 Not designated as hedges Interest-rate swaps: Receive-fixed $1,837 ($3,097 ) Pay-fixed (2,888 ) 4,641 Basis (floating to floating) 4 (30 ) Total interest-rate swaps (1,047 ) 1,514 Option-based: Call swaptions Purchased 454 (694 ) Written (56 ) 27 Put swaptions Purchased (626 ) 327 Written 16 (27 ) Other option-based derivatives (1) 25 (88 ) Total option-based (187 ) (455 ) Other: Futures (242 ) 387 Commitments (96 ) 518 Credit derivatives (4 ) 14 Other 24 (3 ) Total other (318 ) 916 Accrual of periodic cash settlements: Receive-fixed interest-rate swaps (51 ) 222 Pay-fixed interest-rate swaps (36 ) (368 ) Other 33 1 Total accrual of periodic cash settlements (54 ) (145 ) Total ($1,606 ) $1,830 (1) Primarily consists of purchased interest-rate caps and floors. Fair Value Hedges The table below presents the effects of fair value hedge accounting by condensed consolidated statements of comprehensive income line, including the gains and losses on derivatives and hedged items designated in qualifying hedge relationships and other components due to the application of hedge accounting. Table 9.3 - Gains and Losses on Fair Value Hedges 1Q 2019 1Q 2018 (In millions) Interest Income - Mortgage Loans Interest Expense Interest Income - Mortgage Loans Interest Expense Total amounts of income and expense line items presented in our condensed consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $17,946 ($15,833 ) $15,951 ($13,957 ) Interest contracts on mortgage loans held-for-investment: Gain (loss) on fair value hedging relationships: Hedged items 1,542 — (1,973 ) — Derivatives designated as hedging instruments (1,243 ) — 1,687 — Interest accruals on hedging instruments 38 — (167 ) — Discontinued hedge related basis adjustment amortization 28 — 16 — Interest contracts on debt: Gain (loss) on fair value hedging relationships: Hedged items — (505 ) — 678 Derivatives designated as hedging instruments — 546 — (591 ) Interest accruals on hedging instruments — (125 ) — (14 ) Discontinued hedge related basis adjustment amortization — 9 — — Cumulative Basis Adjustments Due to Fair Value Hedging The tables below present the hedged item cumulative basis adjustments due to qualifying fair value hedging and the related hedged item carrying amounts by their respective balance sheet line item. Table 9.4 - Cumulative Basis Adjustments Due to Fair Value Hedging March 31, 2019 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 $211,939 $333 $333 Debt (122,078 ) (274 ) (118 ) 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 )

Collateral and Offsetting of As

Collateral and Offsetting of Assets and Liabilities	3 Months Ended
	Mar. 31, 2019
Offsetting [Abstract]
COLLATERAL AND OFFSETTING OF ASSETS AND LIABILITIES	Collateralized Agreements and Offsetting Arrangements Derivative Portfolio Derivative Counterparties Our use of cleared derivatives, exchange-traded derivatives, and OTC derivatives exposes us to counterparty credit risk. Our use of interest-rate swaps and option-based derivatives is subject to internal credit and legal reviews. On an ongoing basis, we review the credit fundamentals of all of our derivative counterparties, clearinghouses, and clearing members to confirm that they continue to meet our internal risk management standards. Over-the-Counter Derivatives We use master netting and collateral agreements to reduce our credit risk exposure to our OTC derivative counterparties. In the event that all of our counterparties for OTC derivatives were to default simultaneously on March 31, 2019 , our maximum loss for accounting purposes after applying netting agreements and collateral on an individual counterparty basis would have been approximately $55 million . Cleared and Exchange-Traded Derivatives The majority of our interest-rate swaps are subject to the central clearing requirement of the Dodd-Frank Act. A reduction in our credit ratings could cause the clearinghouses or clearing members we use for our cleared and exchange-traded derivatives to demand additional collateral. Other Derivatives We also execute forward purchase and sale commitments of loans and mortgage-related securities, including dollar roll transactions, that are treated as derivatives for accounting purposes. The total net exposure on our forward purchase and sale commitments, which are treated as derivatives, was $188 million and $90 million at March 31, 2019 and December 31, 2018 , respectively. Many of our transactions involving forward purchase and sale commitments of mortgage-related securities utilize the Mortgage Backed Securities Division of the Fixed Income Clearing Corporation ("MBSD/FICC") as a clearinghouse. As a clearing member of the clearinghouse, we post margin to the MBSD/FICC and are exposed to the counterparty credit risk of the organization (including its clearing members). Securities Purchased Under Agreements to Resell As an investor, we enter into arrangements to purchase securities under agreements to subsequently resell the identical or substantially the same securities to our counterparty. Our counterparties to these transactions are required to pledge the purchased securities as collateral for their obligation to repurchase those securities at a later date. While such transactions involve the legal transfer of securities, they are accounted for as secured financings because the transferor does not relinquish effective control over the securities transferred. Although it is not our practice to repledge collateral that has been pledged to us, these agreements may allow us to repledge all or a portion of the collateral. We consider the types of securities being pledged to us as collateral when determining how much we lend in transactions involving securities purchased under agreements to resell. Additionally, we regularly review the market values of these securities compared to amounts loaned in an effort to manage our exposure to losses. Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are effectively collateralized borrowings where we sell securities with an agreement to repurchase such securities at a future date. We are required to pledge the sold securities to the counterparties to these transactions as collateral for our obligation to repurchase these securities at a later date. Similar to the securities purchased under agreements to resell transactions, these transactions involve the legal transfer of securities. However, they are accounted for as secured financings because they require the identical or substantially the same securities to be subsequently repurchased. These agreements may allow our counterparties to repledge all or a portion of the collateral. Offsetting of Financial Assets and Liabilities At March 31, 2019 and December 31, 2018, all amounts of cash collateral related to derivatives with master netting and collateral agreements were offset against derivative assets, net or derivative liabilities, net, as applicable. In 1Q 2018, we changed the characterization of variation margin payments from posting of margin collateral to settlements for certain of our cleared swaps transacted with LCH group, as a result of certain rule amendments made by the organization. The tables below display offsetting and collateral information related to derivatives, securities purchased under agreements to resell, and securities sold under agreements to repurchase which are subject to enforceable master netting agreements or similar arrangements. Securities sold under agreements to repurchase are included in debt, net on our condensed consolidated balance sheets. Table 10.1 - Offsetting and Collateral Information of Financial Assets and Liabilities March 31, 2019 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $6,980 ($4,625 ) ($1,717 ) $638 ($583 ) $55 Cleared and exchange-traded derivatives 213 (1 ) 98 310 — 310 Other 198 — — 198 — 198 Total derivatives 7,391 (4,626 ) (1,619 ) 1,146 (583 ) 563 Securities purchased under agreements to resell (3) 50,134 — — 50,134 (50,134 ) — Total $57,525 ($4,626 ) ($1,619 ) $51,280 ($50,717 ) $563 Liabilities: Derivatives: OTC derivatives ($5,331 ) $4,625 $654 ($52 ) $— ($52 ) Cleared and exchange-traded derivatives (11 ) 1 7 (3 ) — (3 ) Other (377 ) — — (377 ) — (377 ) Total derivatives (5,719 ) 4,626 661 (432 ) — (432 ) Securities sold under agreements to repurchase (3) (14,962 ) — — (14,962 ) 14,962 — Total ($20,681 ) $4,626 $661 ($15,394 ) $14,962 ($432 ) Referenced footnotes are included after the next table. December 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,213 ($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) 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 (3) (6,019 ) — — (6,019 ) 6,019 — Total ($11,543 ) $4,544 $397 ($6,602 ) $6,019 ($583 ) (1) Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset. (2) Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability, netted by counterparty, presented on the condensed consolidated balance sheets. For cleared and exchange-traded derivatives, does not include non-cash collateral posted by us as initial margin with an aggregate fair value of $2.4 billion and $2.5 billion as of March 31, 2019 and December 31, 2018 , respectively. (3) Does not include the impacts of netting by central clearing organizations. Collateral Pledged Collateral Pledged to Freddie Mac We have cash pledged to us as collateral primarily related to OTC derivative transactions. At March 31, 2019 , we had $2.3 billion pledged to us as collateral that was invested as part of our liquidity and contingency operating portfolio. 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 March 31, 2019 (In millions) Derivatives Securities sold under agreements to repurchase Other (3) Total Cash equivalents (1) $— $686 $— $686 Debt securities of consolidated trusts (2) 300 — 183 483 Available-for-sale securities — 2,934 3 2,937 Trading securities 2,130 11,432 23 13,585 Total securities pledged $2,430 $15,052 $209 $17,691 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 (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 condensed 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 March 31, 2019 (In millions) Overnight and continuous 30 days or less After 30 days through 90 days Greater than 90 days Total U.S. Treasury securities and other $2,940 $12,112 $— $— $15,052

Stockholders' Equity and Earnin

Stockholders' Equity and Earnings per Share	3 Months Ended
	Mar. 31, 2019
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 rate of 21% for 1Q 2019 and 1Q 2018, 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 1Q 2019 (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 $83 ($315 ) $97 ($135 ) Other comprehensive income before reclassifications 273 — (2 ) 271 Amounts reclassified from accumulated other comprehensive income (27 ) 18 (4 ) (13 ) Changes in AOCI by component 246 18 (6 ) 258 Ending balance $329 ($297 ) $91 $123 1Q 2018 (In millions) AOCI Related to Available- For-Sale Securities AOCI Related to Cash Flow Hedge Relationships AOCI Related to Defined Benefit Plans Total Beginning balance $662 ($356 ) $83 $389 Other comprehensive income before reclassifications (488 ) — (2 ) (490 ) Amounts reclassified from accumulated other comprehensive income (312 ) 30 (4 ) (286 ) Changes in AOCI by component (800 ) 30 (6 ) (776 ) Cumulative effect of change in accounting principle (1) 143 (73 ) 19 89 Ending balance $5 ($399 ) $96 ($298 ) (1) Includes the effect of adopting the accounting guidance on reclassification of stranded tax effects of the Tax Cuts and Jobs Act in 1Q 2018. Reclassifications from AOCI to Net Income The table below presents reclassifications from AOCI to net income, including the affected line item in our condensed consolidated statements of comprehensive income. Table 11.2 - Reclassifications from AOCI to Net Income (In millions) 1Q 2019 1Q 2018 AOCI related to available-for-sale securities Affected line items in the consolidated statements of comprehensive income: Investment securities gains (losses) $34 $395 Total before tax 34 395 Income tax (expense) or benefit (7 ) (83 ) Net of tax 27 312 AOCI related to cash flow hedge relationships Affected line items in the consolidated statements of comprehensive income: Interest expense (23 ) (38 ) Income tax (expense) or benefit 5 8 Net of tax (18 ) (30 ) AOCI related to defined benefit plans Affected line items in the consolidated statements of comprehensive income: Salaries and employee benefits 5 5 Income tax (expense) or benefit (1 ) (1 ) Net of tax 4 4 Total reclassifications in the period net of tax $13 $286 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 March 31, 2019 and March 31, 2018, 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 $69 million , net of taxes, of the $0.3 billion of cash flow hedge losses in AOCI at March 31, 2019 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 As of March 31, 2019 , our assets exceeded our liabilities under GAAP; therefore, no draw is being requested from Treasury under the Purchase Agreement. Based on our Net Worth Amount of $4.7 billion as of March 31, 2019 and the Capital Reserve Amount of $3.0 billion , our dividend requirement to Treasury in June 2019 will be $1.7 billion . See Note 2 for additional information. Upon the Conservator, acting as successor to the rights, titles, powers, and privileges of the Board of Directors, declaring a senior preferred stock dividend equal to our dividend requirement and directing us to pay it before June 30, 2019, we would pay a dividend of $1.7 billion by June 30, 2019. If for any reason we were not to pay our dividend requirement on the senior preferred stock in full, the unpaid amount would be added to the liquidation preference and our applicable Capital Reserve Amount would thereafter be zero, but this would not affect our ability to draw funds from Treasury under the Purchase Agreement. Our cumulative senior preferred stock dividend payments totaled $118.0 billion as of March 31, 2019. The aggregate liquidation preference of the senior preferred stock owned by Treasury was $75.6 billion as of both March 31, 2019 and December 31, 2018. Stock Issuances and Repurchases We did not repurchase or issue any of our common shares or non-cumulative preferred stock during 1Q 2019, except for issuances of treasury stock relating to stock-based compensation granted prior to Conservatorship. During 1Q 2019, the deferral period lapsed on 351 RSUs. At March 31, 2019, 702 RSUs remained outstanding. Earnings Per Share We have participating securities related to restricted stock units with dividend equivalent rights that receive dividends as declared on an equal basis with common shares but are not obligated to participate in undistributed net losses. These participating securities consist of vested 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. There were no stock options outstanding at both March 31, 2019 and March 31, 2018 . Dividends and Dividend Restrictions No common dividends were declared during 1Q 2019. At the direction of our Conservator, we paid dividends of $1.5 billion in cash on the senior preferred stock during 1Q 2019. We did not declare or pay dividends on any other series of Freddie Mac preferred stock outstanding during 1Q 2019. Our payment of dividends on Freddie Mac common stock or any series of Freddie Mac preferred stock (other than senior preferred stock) is subject to certain restrictions as described in Note 11 in our 2018 Annual Report.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	Income Taxes Income Tax Expense For 1Q 2019 and 1Q 2018, we reported income tax expense of $0.4 billion and $0.7 billion , respectively, resulting in effective tax rates of 20.3% and 20.4% , respectively. Our effective tax rate differed from the statutory tax rate of 21% in these periods primarily due to our recognition of low income housing tax credits. Deferred Tax Assets, Net We had net deferred tax assets of $6.8 billion and $6.9 billion as of March 31, 2019 and December 31, 2018 , respectively. At March 31, 2019 , our net deferred tax assets consisted primarily of basis differences related to derivative instruments and deferred fees. Based on all positive and negative evidence available at March 31, 2019 , we determined that it is more likely than not that our net deferred tax assets, except for a portion of the deferred tax asset related to our capital loss carryforward, will be realized. As of March 31, 2019, we have a $46 million valuation allowance recorded against our capital loss carryforward deferred tax asset. Unrecognized Tax Benefits We evaluated all income tax positions and determined that there were no uncertain tax positions that required reserves as of March 31, 2019 .

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2019
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. Material corporate-level activities that are infrequent in nature and based on decisions outside the control of the management of our reportable segments are included in the All Other category. For more information, see our 2018 Annual Report. Segment Earnings We present Segment Earnings by reclassifying certain credit guarantee-related activities and investment-related activities between various line items on our GAAP condensed consolidated statements of comprehensive income and allocating certain revenues and expenses, including 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. The table below presents Segment Earnings by segment. Table 13.1 - Segment Earnings (In millions) 1Q 2019 1Q 2018 Segment Earnings (loss), net of taxes: Single-family Guarantee $740 $786 Multifamily 330 473 Capital Markets 337 1,667 All Other — — Total Segment Earnings, net of taxes 1,407 2,926 Net income (loss) $1,407 $2,926 Comprehensive income (loss) of segments: Single-family Guarantee $736 $782 Multifamily 395 405 Capital Markets 534 963 All Other — — Comprehensive income (loss) of segments 1,665 2,150 Comprehensive income (loss) $1,665 $2,150 The tables below present detailed reconciliations between our GAAP condensed consolidated statements of comprehensive income and Segment Earnings for our reportable segments and All Other. Table 13.2 - Segment Earnings and Reconciliations to GAAP Condensed Consolidated Statements of Comprehensive Income 1Q 2019 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 $— $247 $758 $— $1,005 $2,148 $3,153 Guarantee fee income 1,633 216 — — 1,849 (1,632 ) 217 Benefit (provision) for credit losses 8 (1 ) — — 7 128 135 Mortgage loans gains (losses) — 731 — — 731 200 931 Investment securities gains (losses) — (17 ) 195 — 178 (4 ) 174 Debt gains (losses) (21 ) 29 (7 ) — 1 14 15 Derivative gains (losses) (41 ) (772 ) (667 ) — (1,480 ) (126 ) (1,606 ) Other income (loss) 249 104 237 — 590 (556 ) 34 Administrative expense (374 ) (112 ) (92 ) — (578 ) — (578 ) REO operations (expense) income (38 ) — — — (38 ) 5 (33 ) Other non-interest (expense) income (488 ) (11 ) (1 ) — (500 ) (177 ) (677 ) Income tax (expense) benefit (188 ) (84 ) (86 ) — (358 ) — (358 ) Net income (loss) 740 330 337 — 1,407 — 1,407 Changes in unrealized gains (losses) related to available-for-sale securities — 66 180 — 246 — 246 Changes in unrealized gains (losses) related to cash flow hedge relationships — — 18 — 18 — 18 Changes in defined benefit plans (4 ) (1 ) (1 ) — (6 ) — (6 ) Total other comprehensive income (loss), net of taxes (4 ) 65 197 — 258 — 258 Comprehensive income (loss) $736 $395 $534 $— $1,665 $— $1,665 1Q 2018 Single-family Guarantee Multifamily Capital Markets All Other Total Segment Earnings (Loss) Reclassifications Total per Consolidated Statements of Comprehensive Income (In millions) Net interest income $— $271 $771 $— $1,042 $1,976 $3,018 Guarantee fee income 1,590 195 — — 1,785 (1,591 ) 194 Benefit (provision) for credit losses 41 16 — — 57 (120 ) (63 ) Mortgage loans gains (losses) — (346 ) — — (346 ) 131 (215 ) Investment securities gains (losses) — (158 ) 37 — (121 ) (111 ) (232 ) Debt gains (losses) 34 10 105 — 149 (28 ) 121 Derivative gains (losses) (6 ) 655 1,302 — 1,951 (121 ) 1,830 Other income (loss) 81 64 (31 ) — 114 17 131 Administrative expense (336 ) (100 ) (84 ) — (520 ) — (520 ) REO operations (expense) income (39 ) — — — (39 ) 5 (34 ) Other non-interest (expense) income (379 ) (13 ) (6 ) — (398 ) (158 ) (556 ) Income tax (expense) benefit (200 ) (121 ) (427 ) — (748 ) — (748 ) Net income (loss) 786 473 1,667 — 2,926 — 2,926 Changes in unrealized gains (losses) related to available-for-sale securities — (67 ) (733 ) — (800 ) — (800 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 30 — 30 — 30 Changes in defined benefit plans (4 ) (1 ) (1 ) — (6 ) — (6 ) Total other comprehensive income (loss), net of taxes (4 ) (68 ) (704 ) — (776 ) — (776 ) Comprehensive income (loss) $782 $405 $963 $— $2,150 $— $2,150

Concentration of Credit and Oth

Concentration of Credit and Other Risks	3 Months Ended
	Mar. 31, 2019
Risks and Uncertainties [Abstract]
CONCENTRATION OF CREDIT AND OTHER RISKS	Concentration of Credit and Other Risks Single-Family Credit Guarantee Portfolio The table below summarizes the concentration by loan portfolio and geographic area of the approximately $1.9 trillion UPB of our single-family credit guarantee portfolio as of both March 31, 2019 and December 31, 2018. 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 March 31, 2019 December 31, 2018 Percent of Credit Losses Percentage of Portfolio Serious Delinquency Rate Percentage of Portfolio Serious Delinquency Rate 1Q 2019 1Q 2018 Core single-family loan portfolio 83 % 0.22 % 82 % 0.22 % 12 % 6 % Legacy and relief refinance single-family loan portfolio 17 1.91 18 1.93 88 94 Total 100 % 0.67 100 % 0.69 100 % 100 % Region (1) West 30 % 0.38 30 % 0.38 15 % 17 % Northeast 24 0.95 24 0.96 37 41 North Central 16 0.62 16 0.63 16 19 Southeast 16 0.83 16 0.90 25 18 Southwest 14 0.54 14 0.57 7 5 Total 100 % 0.67 100 % 0.69 100 % 100 % State (2) Florida 6 % 0.91 6 % 1.01 18 % 10 % New York 5 1.33 5 1.37 12 9 New Jersey 3 1.21 3 1.24 10 13 California 18 0.35 18 0.35 10 13 Illinois 4 0.86 5 0.86 10 9 All other 64 0.62 63 0.64 40 46 Total 100 % 0.67 % 100 % 0.69 % 100 % 100 % (1) Region designation: West (AK, AZ, CA, GU, HI, ID, MT, NV, OR, UT, WA); Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI); Southeast (AL, FL, GA, KY, MS, NC, PR, SC, TN, VI); Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY). (2) States presented based on those with the highest percentage of credit losses during 1Q 2019. Credit Performance of Certain Higher Risk Single-Family Loan Categories Participants in the mortgage market have characterized single-family loans based upon their overall credit quality at the time of origination, including as prime or subprime. Mortgage market participants have classified single-family loans as Alt-A if these loans have credit characteristics that range between their prime and subprime categories, if they are underwritten with lower or alternative income or asset documentation requirements compared to a full documentation loan, or both. Although we discontinued new purchases of loans with lower documentation standards beginning March 1, 2009, we continued to purchase certain amounts of these loans in cases where the loan was either: n Purchased pursuant to a previously issued other mortgage-related guarantee; n Part of our relief refinance initiative; or n In another refinance loan initiative and the pre-existing loan (including Alt-A loans) was originated under less than full documentation standards. In the event we purchase a refinance loan and the original loan had been previously identified as Alt-A, such refinance loan may no longer be categorized or reported as Alt-A in the table below because the new refinance loan replacing the original loan would not be identified by the seller/servicer as an Alt-A loan. As a result, our reported Alt-A balances may be lower than would otherwise be the case had such refinancing not occurred. Although we do not categorize single-family loans we purchase or guarantee as prime or subprime, we recognize that there are a number of loan types with certain characteristics that indicate a higher degree of credit risk. For example, a borrower's credit score is a useful measure for assessing the credit quality of the borrower. Statistically, borrowers with higher credit scores are more likely to repay or have the ability to refinance than those with lower scores. Presented below is a summary of the serious delinquency rates of certain higher-risk categories (based on characteristics of the loan at origination) of loans in our single-family credit guarantee portfolio. The table includes a presentation of each higher-risk category in isolation. A single loan may fall within more than one category (for example, an interest-only loan may also have an original LTV ratio greater than 90%). Loans with a combination of these attributes will have an even higher risk of delinquency than those with an individual attribute. 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) March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Interest-only 1 % 1 % 3.35 % 3.43 % Alt-A 1 1 4.17 4.13 Original LTV ratio greater than 90% (2) 18 18 0.99 1.04 Lower credit scores at origination (less than 620) 2 2 4.50 4.59 (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. Sellers and Servicers Sellers 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 14.3 - Seller Concentration Single-family Sellers 1Q 2019 1Q 2018 JPMorgan Chase Bank, N.A. 16 % 6 % United Shore Financial Services, LLC (1) 10 N/A Wells Fargo Bank, N.A. 8 15 Other top 10 sellers 23 30 Top 10 single-family sellers 57 % 51 % Multifamily Sellers 1Q 2019 1Q 2018 CBRE Capital Markets, Inc. 15 % 14 % Berkadia Commercial Mortgage LLC 13 11 Walker & Dunlop, LLC 9 12 Holliday Fenoglio Fowler, L.P. 5 10 Other top 10 sellers 35 32 Top 10 multifamily sellers 77 % 79 % (1) United Shore Financial Services, LLC was not a top 10 single-family seller in 1Q 2018. 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 in recent years, and we purchase a significant share of our loans from them. Our top five non-depository sellers provided approximately 26% and 22% of our single-family purchase volume during 1Q 2019 and 1Q 2018, respectively. Servicers 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 14.4 - Servicer Concentration Single-family Servicers March 31, 2019 (1) December 31, 2018 (1) Wells Fargo Bank, N.A. 17 % 17 % Other top 10 servicers 40 39 Top 10 single-family servicers 57 % 56 % Multifamily Servicers March 31, 2019 December 31, 2018 Wells Fargo Bank, N.A. 14 % 14 % CBRE Capital Markets, Inc. 11 14 Berkadia Commercial Mortgage LLC 11 11 Other top 10 servicers 39 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 in recent years and now service a large share of our loans. As of March 31, 2019 and December 31, 2018 , approximately 18% and 16% , respectively, of our single-family credit guarantee portfolio, excluding loans where we do not exercise control over the associated servicing, was serviced by our top five non-depository servicers. We actively manage the performance of our largest non-depository servicers. 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. In March 2019, we implemented a set of revised Private Mortgage Insurer Eligibility Requirements (PMIERs) with enhancements to the risk-based capital requirements for mortgage insurers. In addition, we revised master policies with mortgage insurers which provide contract certainty and improve our ability to collect claims for mortgage insurance obligations. These policies were approved by FHFA and are expected to become effective during 2020. We evaluate the recovery and collectability from mortgage insurers as part of the estimate of our allowance for credit losses. See Note 4 for additional information. As of March 31, 2019 , mortgage insurers provided coverage with maximum loss limits of $98.9 billion , for $385.5 billion of UPB, in connection with our single-family credit guarantee portfolio. These amounts are based on gross coverage without regard to netting of coverage that may exist to the extent an affected loan is covered under both primary and pool insurance. The table below summarizes the concentration of mortgage insurer counterparties who provided 10% or more of our overall mortgage insurance coverage. On October 23, 2016, Genworth Financial, Inc. announced that it had entered into an agreement to be acquired by China Oceanwide Holdings Group Co., Ltd. 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 14.5 - Mortgage Insurer Concentration Mortgage Insurance Coverage (2) Mortgage Insurer Credit Rating (1) March 31, 2019 December 31, 2018 Arch Mortgage Insurance Company A- 23 % 24 % Radian Guaranty Inc. BBB 20 20 Mortgage Guaranty Insurance Corporation BBB 18 19 Genworth Mortgage Insurance Corporation BB+ 15 14 Essent Guaranty, Inc. BBB+ 14 14 Total 90 % 91 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Latest rating available as of March 31, 2019. Represents the lower of S&P and Moody’s credit ratings stated in terms of the S&P equivalent. (2) Includes primary mortgage insurance and pool insurance. Coverage amounts may include coverage provided by affiliates and subsidiaries of the counterparty. During both 1Q 2019 and 1Q 2018, we received proceeds of $0.1 billion from our primary and pool mortgage insurance policies for recovery of losses on our single-family loans. We had outstanding receivables from mortgage insurers of $0.1 billion (excluding deferred payment obligations associated with unpaid claim amounts) as of both March 31, 2019 and December 31, 2018 . The balance of these receivables, net of associated reserves, was approximately $0.1 billion at both March 31, 2019 and December 31, 2018 . PMI Mortgage Insurance Co. and Triad Guaranty Insurance Corp. are both under the control of their state regulators and are in run-off. A substantial portion of their claims is recorded by us as deferred payment obligations. As of both March 31, 2019 and December 31, 2018 , 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. As part of our ACIS and other CRT transactions, we regularly obtain insurance coverage from 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 transaction, we require the individual 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), many of our insurers and reinsurers in these transactions participate in multiple types of insurance business, which helps diversify their risk exposure. Other Investments 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 into such transactions. We monitor the financial strength of our counterparties to these transactions and may use collateral maintenance requirements to manage our exposure to individual counterparties. The permitted term and dollar limits for each of these transactions are also based on the counterparty's financial strength. Our 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 March 31, 2019 and December 31, 2018 , including amounts related to our consolidated VIEs, the balance in our other investments was $77.0 billion and $63.1 billion , respectively. The balances consist primarily of cash and securities purchased under agreements to resell invested with counterparties, U.S. Treasury securities, cash deposited with the Federal Reserve Bank of New York, and secured lending activities. As of March 31, 2019 , all of our securities purchased under agreements to resell were fully collateralized. As of March 31, 2019 and December 31, 2018, $1.9 billion and $2.5 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 risk of these institutions.

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	Fair Value Disclosures The accounting guidance for fair value measurements and disclosures defines fair value, establishes a framework for measuring fair value, and sets forth disclosure requirements regarding fair value measurements. This guidance applies whenever other accounting guidance requires or permits assets or liabilities to be measured at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or, in the absence of a principal market, in the most advantageous market for the asset or liability. We use fair value measurements for the initial recording of certain assets and liabilities and periodic remeasurement of certain assets and liabilities on a recurring or non-recurring basis. Fair Value Measurements The accounting guidance for fair value measurements and disclosures establishes a three-level fair value hierarchy that prioritizes the inputs into the valuation techniques used to measure fair value. The levels of the fair value hierarchy are defined as follows in priority order: n Level 1 - inputs to the valuation techniques are based on quoted prices in active markets for identical assets or liabilities. n Level 2 - inputs to the valuation techniques are based on observable inputs other than quoted prices in active markets for identical assets or liabilities. n Level 3 - one or more inputs to the valuation technique are unobservable and significant to the fair value measurement. We use quoted market prices and valuation techniques that seek to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs. Our inputs are based on the assumptions a market participant would use in valuing the asset or liability. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Assets and Liabilities Measured at Fair Value on a Recurring Basis The tables below present our assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis subsequent to initial recognition, including instruments where we have elected the fair value option. Table 15.1 - Assets and Liabilities Measured at Fair Value on a Recurring Basis March 31, 2019 (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 $— $25,347 $3,563 $— $28,910 Other agency — 1,346 36 — 1,382 Non-agency and other — 19 1,633 — 1,652 Total available-for-sale securities, at fair value — 26,712 5,232 — 31,944 Trading, at fair value: Mortgage-related securities: Freddie Mac — 10,259 3,051 — 13,310 Other agency — 2,781 7 — 2,788 All other — — 1 — 1 Total mortgage-related securities — 13,040 3,059 — 16,099 Non-mortgage-related securities 14,782 2,671 — — 17,453 Total trading securities, at fair value 14,782 15,711 3,059 — 33,552 Total investments in securities 14,782 42,423 8,291 — 65,496 Mortgage loans: Held-for-sale, at fair value — 20,576 — — 20,576 Derivative assets, net: Interest-rate swaps — 1,929 — — 1,929 Option-based derivatives — 4,147 — — 4,147 Other — 187 11 — 198 Subtotal, before netting adjustments — 6,263 11 — 6,274 Netting adjustments (1) — — — (5,128 ) (5,128 ) Total derivative assets, net — 6,263 11 (5,128 ) 1,146 Other assets: Guarantee asset, at fair value — — 3,795 — 3,795 Non-derivative held-for-sale purchase commitments, at fair value — 237 — — 237 All other, at fair value — — 150 — 150 Total other assets — 237 3,945 — 4,182 Total assets carried at fair value on a recurring basis $14,782 $69,499 $12,247 ($5,128 ) $91,400 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $7 $731 $— $738 Other debt, at fair value — 4,115 214 — 4,329 Derivative liabilities, net: Interest-rate swaps — 4,168 — — 4,168 Option-based derivatives — 195 — — 195 Other — 319 58 — 377 Subtotal, before netting adjustments — 4,682 58 — 4,740 Netting adjustments (1) — — — (4,308 ) (4,308 ) Total derivative liabilities, net — 4,682 58 (4,308 ) 432 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 4 — — 4 All other, at fair value — — 1 — 1 Total liabilities carried at fair value on a recurring basis $— $8,808 $1,004 ($4,308 ) $5,504 Referenced footnote is included after the next table. 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 and other — 18 1,640 — 1,658 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 (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 condensed consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3. The tables also present gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized 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 1Q 2019 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 $4,097 ($18 ) $72 $54 $52 $— ($486 ) ($96 ) $— ($58 ) $3,563 ($1 ) Other agency 38 — — — — — — (2 ) — — 36 — Non-agency and other 1,640 4 50 54 — — — (61 ) — — 1,633 4 Total available-for-sale mortgage-related securities 5,775 (14 ) 122 108 52 — (486 ) (159 ) — (58 ) 5,232 3 Trading, at fair value: Mortgage-related securities: Freddie Mac 3,286 (59 ) — (59 ) 143 — (115 ) (24 ) — (180 ) 3,051 (61 ) Other agency 7 — — — — — — — — — 7 — All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 3,294 (59 ) — (59 ) 143 — (115 ) (24 ) — (180 ) 3,059 (61 ) Other assets: Guarantee asset 3,633 35 — 35 — 282 — (155 ) — — 3,795 35 All other, at fair value 137 (34 ) — (34 ) 52 9 (12 ) (2 ) — — 150 (33 ) Total other assets $3,770 $1 $— $1 $52 $291 ($12 ) ($157 ) $— $— $3,945 $2 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 $728 $2 $— $2 $— $— $— $— $— $— $730 $2 Other debt, at fair value 134 — — — — 80 — — — — 214 — Net derivatives (2) 91 (38 ) — (38 ) — — — (5 ) — — 48 (43 ) All other, at fair value — (2 ) — (2 ) 3 — — — — — 1 (2 ) Referenced footnotes are included after the prior period tables. 1Q 2018 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $6,751 ($6 ) ($152 ) ($158 ) $433 $— $— ($257 ) $— $— $6,769 ($6 ) Other agency 46 — — — — — — (2 ) — — 44 — Non-agency and other 4,291 449 (453 ) (4 ) — — (1,467 ) (129 ) — — 2,691 17 Total available-for-sale mortgage-related securities 11,088 443 (605 ) (162 ) 433 — (1,467 ) (388 ) — — 9,504 11 Trading, at fair value: Mortgage-related securities: Freddie Mac 2,907 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,038 (111 ) Other agency 9 — — — — — — — — — 9 — All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 2,917 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,048 (111 ) Other assets: Guarantee asset 3,171 16 — 16 — 235 — (137 ) — — 3,285 16 All other, at fair value 45 6 — 6 43 9 (15 ) — — — 88 3 Total other assets $3,216 $22 $— $22 $43 $244 ($15 ) ($137 ) $— $— $3,373 $19 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in other Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $630 ($1 ) $— ($1 ) $— $— $— $— $— $— $629 ($1 ) Other debt, at fair value 137 — — — — — — (2 ) — — 135 — Net derivatives (2) 57 9 — 9 — (22 ) — (4 ) — — 40 6 (1) Transfers out of Level 3 during 1Q 2019 and 1Q 2018 consisted primarily of certain mortgage-related securities due to an increased volume and level of activity in the market and availability of price quotes from dealers and third-party pricing services. Certain Freddie Mac securities are classified as Level 3 at issuance and generally are classified as Level 2 when they begin trading. Transfers into Level 3 during 1Q 2019 and 1Q 2018 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 March 31, 2019 and March 31, 2018, respectively. Included in these amounts are other-than temporary impairments recorded on available-for-sale securities. The tables below provide valuation techniques, the range, and the weighted average of significant unobservable inputs for Level 3 assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis. Table 15.3 - Quantitative Information about Recurring Level 3 Fair Value Measurements March 31, 2019 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 $2,770 Discounted cash flows OAS 30 - 261 bps 87 bps 793 Single external source External pricing sources $96.5 - $106.5 $103.8 Non-agency and other 1,416 Median of external sources External pricing sources $64.9 - $70.5 $67.4 217 Single external source External pricing sources $97.7 - $114.4 $101.1 Trading, at fair value Mortgage-related securities Freddie Mac 2,043 Single external source External pricing sources $0.0 - $99.6 $46.7 1,008 Discounted cash flows OAS (21,945) - 8,039 bps 617 bps Guarantee asset, at fair value 3,543 Discounted cash flows OAS 17-198 bps 44 bps 251 Other Insignificant Level 3 assets (1) 195 Total level 3 assets $12,236 Liabilities Debt securities of consolidated trusts held by third parties, at fair value $731 Single External Source External Pricing Sources 98.0 -102.2 bps $100.0 Insignificant Level 3 liabilities (1) 263 Referenced footnote is included after the next table. December 31, 2018 Level 3 Predominant 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 $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 and other 1,403 Median of external sources External pricing sources $64.3 - $71.1 $67.3 237 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 (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 condensed consolidated balance sheets at fair value on a non-recurring basis. Table 15.4 - Assets Measured at Fair Value on a Non-Recurring Basis March 31, 2019 December 31, 2018 (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) $— $91 $5,414 $5,505 $— $24 $7,519 $7,543 (1) Includes loans that are classified as held-for-investment and have been measured for impairment based on the fair value of the underlying collateral and held-for-sale loans where the fair value is below cost. The tables below provide valuation techniques, the range, and the weighted average of significant unobservable inputs for Level 3 assets and liabilities measured on our condensed consolidated balance sheets at fair value on a non-recurring basis. Table 15.5 - Quantitative Information about Non-Recurring Level 3 Fair Value Measurements March 31, 2019 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 $5,414 Internal model Historical sales proceeds $3,400 - $782,100 $177,593 Internal model Housing sales index 44 - 486 bps 108 bps Median of external sources External pricing sources $32.3 - $95.0 $83.7 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 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 March 31, 2019 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 Amortized cost $6,239 $6,179 $60 $— $— $6,239 Securities purchased under agreements to resell Amortized cost 50,134 — 50,134 — — 50,134 Investments in securities: Available-for-sale, at fair value FV - OCI 31,944 — 26,712 5,232 — 31,944 Trading, at fair value FV - NI 33,552 14,782 15,711 3,059 — 33,552 Total investments in securities 65,496 14,782 42,423 8,291 — 65,496 Mortgage loans: Loans held by consolidated trusts 1,858,079 — 1,640,585 216,487 — 1,857,072 Loans held by Freddie Mac 84,009 — 34,688 51,860 — 86,548 Total mortgage loans Various (3) 1,942,088 — 1,675,273 268,347 — 1,943,620 Derivative assets, net FV - NI 1,146 — 6,263 11 (5,128 ) 1,146 Guarantee asset FV - NI 3,795 — — 3,803 — 3,803 Non-derivative purchase commitments, at fair value FV - NI 237 — 237 5 — 242 Secured lending and other Amortized cost 3,151 — 544 1,759 — 2,303 Total financial assets $2,072,286 $20,961 $1,774,934 $282,216 ($5,128 ) $2,072,983 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $1,803,707 $— $1,797,267 $3,238 $— $1,800,505 Other debt 269,907 — 269,561 3,713 — 273,274 Total debt, net Various (4) 2,073,614 — 2,066,828 6,951 — 2,073,779 Derivative liabilities, net FV - NI 432 — 4,682 58 (4,308 ) 432 Guarantee obligation Amortized cost 3,667 — — 3,988 — 3,988 Non-derivative purchase commitments, at fair value FV - NI 4 — 4 21 — 25 Total financial liabilities $2,077,717 $— $2,071,514 $11,018 ($4,308 ) $2,078,224 (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) As of March 31, 2019, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $1.9 trillion , $19.2 billion , and $20.6 billion , respectively. (4) As of March 31, 2019, the GAAP carrying amounts measured at amortized cost and FV - NI were $2.1 trillion and $5.1 billion , respectively. 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 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 (3) 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 (4) 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) 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. (4) 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. Fair Value Option We elected the fair value option for certain multifamily held-for-sale loans, multifamily held-for-sale loan purchase commitments, and certain long-term debt. The table below presents the fair value and UPB related to certain loans and long-term debt for which we have elected the fair value option. This table does not include interest-only securities related to debt securities of consolidated trusts and other debt held by third parties with a fair value of $88 million and $26 million and multifamily held-for-sale loan purchase commitments with a fair value of $233 million and $142 million , as of March 31, 2019 and December 31, 2018, respectively. Table 15.7 - Difference between Fair Value and UPB for Certain Financial Instruments with Fair Value Option Elected March 31, 2019 December 31, 2018 (In millions) Multifamily Held-For-Sale Loans Other Debt - Long Term Debt Securities Of Consolidated Trusts Held By Third Parties Multifamily Held-For-Sale Loans Other Debt - Long Term Debt Securities Of Consolidated Trusts Held By Third Parties Fair value $20,576 $4,248 $730 $23,106 $4,357 $728 UPB 19,793 3,889 730 22,693 3,998 730 Difference $783 $359 $— $413 $359 ($2 ) Changes in Fair Value Under the Fair Value Option Election The table below presents the changes in fair value included in non-interest income (loss) in our condensed 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 1Q 2019 1Q 2018 (In millions) Gains (Losses) Multifamily held-for-sale loans $341 ($458 ) Multifamily held-for-sale loan purchase commitments 390 105 Other debt - long term (2 ) 9 Debt securities of consolidated trusts held by third parties (2 ) 2 Changes in fair value attributable to instrument-specific credit risk were not material for 1Q 2019 and 1Q 2018 for any assets or liabilities for which we elected the fair value option.

Legal Contingencies

Legal Contingencies	3 Months Ended
	Mar. 31, 2019
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. The District Court subsequently granted in part Freddie Mac's motion for leave to amend its complaint, and Freddie Mac amended its complaint on April 16, 2019. 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 alleged, 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 March 6, 2019, the U.S. District Court for the District of Columbia granted the defendants' motion to dismiss the case. On March 18, 2019, Mr. Angel filed a motion seeking to alter or amend the judgment and for leave to file an amended complaint, which defendants have opposed. 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 on 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	3 Months Ended
	Mar. 31, 2019
Mortgage Banking [Abstract]
REGULATORY CAPITAL	Regulatory Capital In October 2008, FHFA announced that it was suspending capital classification of us during conservatorship in light of the Purchase Agreement. FHFA continues to monitor our capital levels, but the existing statutory and FHFA regulatory capital requirements are not binding during conservatorship. We continue to provide quarterly submissions to FHFA on minimum capital. The table below summarizes our minimum capital requirements and deficits and net worth. Table 17.1 - Net Worth and Minimum Capital (In millions) March 31, 2019 December 31, 2018 GAAP net worth (deficit) $4,665 $4,477 Core capital (deficit) (1)(2) (68,106 ) (68,036 ) Less: Minimum capital requirement (1) 18,127 17,553 Minimum capital surplus (deficit) (1) ($86,233 ) ($85,589 ) (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. In May 2017, FHFA, as Conservator, issued guidance to us to evaluate and manage our financial risk and to make economic business decisions, while in conservatorship, utilizing a newly-developed risk-based CCF, an economic capital system with detailed formulae provided by FHFA. We use the CCF to measure risk for making economically effective decisions. We are required to submit quarterly reports to FHFA related to the CCF requirements.

Selected Financial Statement Li

Selected Financial Statement Line Items	3 Months Ended
	Mar. 31, 2019
Selected Financial Statement Data [Abstract]
Selected Financial Statement Line Items	Selected Financial Statement Line Items The table below presents the significant components of other income (loss) on our condensed consolidated statements of comprehensive income (loss). Table 18.1 - Significant Components of Other Income (Loss) (In millions) 1Q 2019 1Q 2018 Other income (loss): Income on guarantee obligation $192 $171 All other (158 ) (40 ) Total other income (loss) $34 $131 The table below presents the significant components of other assets and other liabilities on our condensed consolidated balance sheets. Table 18.2 - Significant Components of Other Assets and Other Liabilities (In millions) March 31, 2019 December 31, 2018 Other assets: Real estate owned, net $744 $769 Accounts and other receivables (1) 4,462 2,447 Guarantee asset 3,795 3,633 Secured lending and other 3,151 1,805 All other 2,149 2,322 Total other assets $14,301 $10,976 Other liabilities: Guarantee obligation $3,667 $3,561 Payables related to securities 1,442 — All other 2,529 2,837 Total other liabilities $7,638 $6,398 (1) Primarily consists of servicer receivables and other non-interest receivables.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP and include our accounts as well as the accounts of other entities in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated. We are operating under the basis that we will realize assets and satisfy liabilities in the normal course of business as a going concern and in accordance with the authority provided by FHFA to our Board of Directors to oversee management's conduct of our business operations. Certain amounts in prior periods' condensed consolidated financial statements have been reclassified to conform to the current presentation. In the opinion of management, our unaudited condensed consolidated financial statements contain all adjustments, which include only normal recurring adjustments, necessary for a fair statement of our results. We evaluate the materiality of identified errors in the financial statements using both an income statement, or "rollover," and a balance sheet, or "iron curtain," approach, based on relevant quantitative and qualitative factors. Net income includes certain adjustments to correct immaterial errors related to previously reported periods.
Use of Estimates	Use of Estimates The preparation of financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, expenses, gains, and losses during the reporting period. Management has made significant estimates in preparing the financial statements for establishing the allowance for credit losses and valuing financial instruments and other assets and liabilities. Actual results could be different from these estimates.
Recently Adopted or Issued Accounting Guidance	Recently Issued Accounting Guidance Recently Adopted Accounting Guidance Standard Description Date of Adoption Effect on Condensed Consolidated Financial Statements ASU 2016-02 , Leases (Topic 842) The amendment in this Update addresses the accounting for lease arrangements. January 1, 2019 The adoption of the amendment did not have a material effect on our condensed consolidated financial statements or on our disclosures. 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 The adoption of the amendment did not have a material effect on our condensed consolidated financial statements or on our disclosures. 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 The adoption of the amendments did not have a material effect on our condensed consolidated financial statements or on our disclosures. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Condensed Consolidated Financial Statements Standard Description Date of Planned Adoption Effect on Consolidated Financial Statements ASU 2016-13 , 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, which includes executing our process for estimating the allowance for credit losses under the new standard in parallel with our existing process for estimating the allowance for credit losses under current GAAP and developing an appropriate governance process for our estimate of expected credit losses under the new standard. 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 early adopted the amendments to remove or modify certain disclosures, which did not have a material effect on our consolidated financial statements. We are delaying adoption of the amendments to add certain disclosures until their effective date. We do not expect that the adoption of the additional disclosures will have a material effect on 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 2018-17 , 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 do not expect that the adoption of these amendments will have a material effect on our consolidated financial statements. ASU 2019-01 , Leases (Topic 842): Narrow-Scope Improvements for Lessors The amendments in this Update provide guidance for the: (1) lessor's fair value determination of the lease's underlying asset; (2) lessor's statement of cash flows presentation of cash received from sales-type and direct financing leases; and (3) removal of interim transition disclosure requirements related to changes in accounting principles. January 1, 2020 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. We consolidate VIEs when we have a controlling financial interest in the VIE and are therefore considered the primary beneficiary of the VIE.
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.
Derivatives, Methods of Accounting, Hedging Derivatives	Fair Value Hedges We apply fair value hedge accounting to certain single-family mortgage loans and certain issuances of debt where we hedge the changes in fair value of these items attributable to the designated benchmark interest rate (i.e., LIBOR), using LIBOR-based interest-rate swaps. If a hedge relationship qualifies for fair value hedge accounting, all changes in fair value of the derivative hedging instrument, including interest accruals, are recognized in the same condensed consolidated statements of comprehensive income line item used to present the earnings effect of the hedged item. Therefore, changes in the fair value of the hedged item, mortgage loans and debt, attributable to the risk being hedged are recognized in interest income - mortgage loans and interest expense, respectively, along with the changes in the fair value of the respective derivative hedging instruments. Cash Flow Hedges There are amounts recorded in AOCI related to discontinued cash flow hedges which are recognized in earnings when the originally forecasted transactions affect earnings. Amounts reclassified from AOCI are recorded in interest expense.
Repurchase and Resale Agreements Policy	Securities Purchased Under Agreements to Resell As an investor, we enter into arrangements to purchase securities under agreements to subsequently resell the identical or substantially the same securities to our counterparty. Our counterparties to these transactions are required to pledge the purchased securities as collateral for their obligation to repurchase those securities at a later date. While such transactions involve the legal transfer of securities, they are accounted for as secured financings because the transferor does not relinquish effective control over the securities transferred. Although it is not our practice to repledge collateral that has been pledged to us, these agreements may allow us to repledge all or a portion of the collateral. We consider the types of securities being pledged to us as collateral when determining how much we lend in transactions involving securities purchased under agreements to resell. Additionally, we regularly review the market values of these securities compared to amounts loaned in an effort to manage our exposure to losses. Securities Sold Under Agreements to Repurchase Securities sold under agreements to repurchase are effectively collateralized borrowings where we sell securities with an agreement to repurchase such securities at a future date. We are required to pledge the sold securities to the counterparties to these transactions as collateral for our obligation to repurchase these securities at a later date. Similar to the securities purchased under agreements to resell transactions, these transactions involve the legal transfer of securities. However, they are accounted for as secured financings because they require the identical or substantially the same securities to be subsequently repurchased. These agreements may allow our counterparties to repledge all or a portion of the collateral.
Stockholders' Equity, Policy	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 $69 million , net of taxes, of the $0.3 billion of cash flow hedge losses in AOCI at March 31, 2019 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.
Earnings Per Common Share	Earnings Per Share We have participating securities related to restricted stock units with dividend equivalent rights that receive dividends as declared on an equal basis with common shares but are not obligated to participate in undistributed net losses. These participating securities consist of vested 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.
Fair Value of Financial Instruments	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.

Securitization Activities and_2

Securitization Activities and Consolidation (Tables)	3 Months Ended
	Mar. 31, 2019
Securitization Activities and Consolidation [Abstract]
Table - Schedule of Various Interest Entities	The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on our condensed consolidated balance sheets. Table 3.1 - Consolidated VIEs (In millions) As of March 31, 2019 As of December 31, 2018 Consolidated Balance Sheet Line Item Assets: Cash and cash equivalents (includes $695 and $566 of restricted cash and cash equivalents) $696 $567 Securities purchased under agreements to resell 13,500 12,125 Mortgage loans held-for-investment 1,858,079 1,842,850 Accrued interest receivable 5,991 5,914 Other assets 2,321 1,631 Total assets of consolidated VIEs $1,880,587 $1,863,087 Liabilities: Accrued interest payable $5,386 $5,335 Debt, net 1,803,707 1,792,677 Total liabilities of consolidated VIEs $1,809,093 $1,798,012 The following table presents the carrying amounts and classification of the assets and liabilities recorded on our condensed 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. 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. Table 3.2 - Non-Consolidated VIEs (In millions) As of March 31, 2019 As of December 31, 2018 Assets and Liabilities Recorded on our Condensed Consolidated Balance Sheets (1) Assets: Investments in securities, at fair value $42,219 $44,020 Accrued interest receivable 213 235 Derivative assets, net 9 1 Other assets 3,272 3,119 Liabilities: Derivative liabilities, net 82 88 Other liabilities 3,111 3,049 Maximum Exposure to Loss (2)(3) $248,263 $241,055 Total Assets of Non-Consolidated VIEs (3) $294,746 $284,724 (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 condensed 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)	3 Months Ended
	Mar. 31, 2019
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 condensed consolidated balance sheets as of March 31, 2019 and December 31, 2018. Table 4.1 - Mortgage Loans March 31, 2019 December 31, 2018 (In millions) Held by Freddie Mac Held by Total Held by Freddie Mac Held by Total Held-for-sale: Single-family $21,696 $— $21,696 $20,946 $— $20,946 Multifamily 21,220 — 21,220 23,959 — 23,959 Total UPB 42,916 — 42,916 44,905 — 44,905 Cost basis and fair value adjustments, net (3,098 ) — (3,098 ) (3,283 ) — (3,283 ) Total held-for-sale loans, net 39,818 — 39,818 41,622 — 41,622 Held-for-investment: Single-family 36,892 1,827,546 1,864,438 35,885 1,814,008 1,849,893 Multifamily 10,654 3,968 14,622 10,828 4,220 15,048 Total UPB 47,546 1,831,514 1,879,060 46,713 1,818,228 1,864,941 Cost basis adjustments (882 ) 29,638 28,756 (1,198 ) 27,752 26,554 Allowance for loan losses (2,473 ) (3,073 ) (5,546 ) (3,009 ) (3,130 ) (6,139 ) Total held-for-investment loans, net 44,191 1,858,079 1,902,270 42,506 1,842,850 1,885,356 Total mortgage loans, net $84,009 $1,858,079 $1,942,088 $84,128 $1,842,850 $1,926,978 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) 1Q 2019 1Q 2018 Single-family: Purchases Held-for-investment loans $69.7 $65.5 Reclassified from held-for-investment to held-for-sale (1) 4.1 1.7 Sale of held-for-sale loans (2) 2.1 1.8 Multifamily: Purchases Held-for-investment loans 1.0 1.0 Held-for-sale loans 11.6 11.8 Reclassified from held-for-investment to held-for-sale (1) 0.5 0.3 Sale of held-for-sale loans (3) 14.7 16.2 (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 mortgage 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-Investment Mortgage Loans, by LTV Ratio and Credit Quality Indicator	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 March 31, 2019 December 31, 2018 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 $1,354,643 $221,796 $5,721 $1,582,160 $1,336,310 $214,703 $6,654 $1,557,667 15-year amortizing fixed-rate 245,503 4,366 130 249,999 251,152 4,522 157 255,831 Adjustable-rate 41,593 1,930 8 43,531 42,117 1,883 7 44,007 Alt-A, interest-only, and option ARM 15,490 1,610 422 17,522 16,498 1,903 559 18,960 Total single-family loans $1,657,229 $229,702 $6,281 $1,893,212 $1,646,077 $223,011 $7,377 $1,876,465 (1) The serious delinquency rate for the total of single-family held-for-investment mortgage loans with current LTV ratios in excess of 100% was 6.89% and 7.24% as of March 31, 2019 and December 31, 2018 , respectively. 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) March 31, 2019 December 31, 2018 Credit risk profile by internally assigned grade: (1) Pass $14,275 $14,648 Special mention 117 201 Substandard 212 181 Doubtful — — Total $14,604 $15,030 (1) A loan categorized as: "Pass" is current and adequately protected by the current financial strength and debt service capacity of the borrower; "Special mention" has administrative issues that may affect future repayment prospects but does not have current credit weaknesses; "Substandard" has a weakness that jeopardizes the timely full repayment; and "Doubtful" has a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions.
Table - Payment Status of Mortgage Loans	The tables below present the recorded investment of our single-family and multifamily loans, held-for-investment, by payment status. Table 4.5 - Recorded Investment of Held-for-Investment Loans by Payment Status March 31, 2019 (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 $1,558,264 $14,059 $3,359 $6,478 $1,582,160 $6,476 15-year amortizing fixed-rate 248,583 991 166 259 249,999 259 Adjustable-rate 43,092 272 58 109 43,531 109 Alt-A, interest-only, and option ARM 15,715 782 280 745 17,522 745 Total single-family 1,865,654 16,104 3,863 7,591 1,893,212 7,589 Total multifamily 14,604 — — — 14,604 14 Total single-family and multifamily $1,880,258 $16,104 $3,863 $7,591 $1,907,816 $7,603 December 31, 2018 (In millions) Current One Two Three Months or (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 (1) Includes $2.6 billion and $2.9 billion of single-family loans that were in the process of foreclosure as of March 31, 2019 and December 31, 2018 , 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) March 31, 2019 December 31, 2018 Single-family: Non-credit-enhanced portfolio Serious delinquency rate 0.82 % 0.83 % Total number of seriously delinquent loans 49,009 51,197 Credit-enhanced portfolio: (1) Primary mortgage insurance: Serious delinquency rate 0.82 % 0.86 % Total number of seriously delinquent loans 14,841 15,287 Other credit protection: (2) Serious delinquency rate 0.31 % 0.31 % Total number of seriously delinquent loans 13,817 12,920 Total single-family: Serious delinquency rate 0.67 % 0.69 % Total number of seriously delinquent loans 73,574 75,649 Multifamily: (3) Non-credit-enhanced portfolio: Delinquency rate — % — % UPB of delinquent loans $2 $2 Credit-enhanced portfolio: Delinquency rate 0.03 % 0.01 % UPB of delinquent loans $70 $28 Total multifamily: Delinquency rate 0.03 % 0.01 % UPB of delinquent loans $72 $30 (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 Allowance for Credit Losses	Table 4.7 - Details of Allowance for Credit Losses The table below summarizes changes in our allowance for credit losses. 1Q 2019 1Q 2018 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 $3,003 $3,127 $46 $6,176 $5,251 $3,680 $48 $8,979 Provision (benefit) for credit losses (201 ) 64 1 (136 ) 98 (21 ) 2 79 Charge-offs (585 ) (19 ) (1 ) (605 ) (355 ) (15 ) (2 ) (372 ) Recoveries 103 3 — 106 95 1 — 96 Transfers, net (1) 107 (107 ) — — 126 (126 ) — — Other (2) 38 3 — 41 90 5 — 95 Single-family ending balance 2,465 3,071 46 5,582 5,305 3,524 48 8,877 Multifamily ending balance 8 2 5 15 17 2 7 26 Total ending balance $2,473 $3,073 $51 $5,597 $5,322 $3,526 $55 $8,903 (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 - Net Investment in Loans	The table below presents our allowance for loan losses and our recorded investment in loans, held-for-investment, by impairment evaluation methodology. Table 4.8 - Net Investment in Loans March 31, 2019 December 31, 2018 (In millions) Single-family Multifamily Total Single-family Multifamily Total Recorded investment: Collectively evaluated $1,849,607 $14,521 $1,864,128 $1,830,044 $14,945 $1,844,989 Individually evaluated 43,605 83 43,688 46,421 85 46,506 Total recorded investment 1,893,212 14,604 1,907,816 1,876,465 15,030 1,891,495 Ending balance of the allowance for loan losses: Collectively evaluated (1,716 ) (10 ) (1,726 ) (1,761 ) (9 ) (1,770 ) Individually evaluated (3,820 ) — (3,820 ) (4,369 ) — (4,369 ) Total ending balance of the allowance (5,536 ) (10 ) (5,546 ) (6,130 ) (9 ) (6,139 ) Net investment in loans $1,887,676 $14,594 $1,902,270 $1,870,335 $15,021 $1,885,356
Table - Individually Impaired Loans	The tables below present the UPB, recorded investment, related allowance for loan losses, average recorded investment, and interest income recognized for individually impaired loans. Table 4.9 - Individually Impaired Loans March 31, 2019 December 31, 2018 (In millions) UPB Recorded Investment Associated Allowance UPB Recorded Investment Associated Single-family: With no allowance recorded: (1) 20- and 30-year or more, amortizing fixed-rate $3,336 $2,645 N/A $3,335 $2,666 N/A 15-year amortizing fixed-rate 21 21 N/A 23 22 N/A Adjustable-rate 222 220 N/A 227 226 N/A Alt-A, interest-only, and option ARM 1,128 954 N/A 1,286 1,083 N/A Total with no allowance recorded 4,707 3,840 N/A 4,871 3,997 N/A With an allowance recorded: (2) 20- and 30-year or more, amortizing fixed-rate 35,264 34,720 ($3,201 ) 37,579 36,959 ($3,660 ) 15-year amortizing fixed-rate 700 711 (18 ) 703 713 (19 ) Adjustable-rate 154 153 (8 ) 164 162 (8 ) Alt-A, interest-only, and option ARM 4,419 4,181 (593 ) 4,867 4,590 (682 ) Total with an allowance recorded 40,537 39,765 (3,820 ) 43,313 42,424 (4,369 ) Combined single-family: 20- and 30-year or more, amortizing fixed-rate 38,600 37,365 (3,201 ) 40,914 39,625 (3,660 ) 15-year amortizing fixed-rate 721 732 (18 ) 726 735 (19 ) Adjustable-rate 376 373 (8 ) 391 388 (8 ) Alt-A, interest-only, and option ARM 5,547 5,135 (593 ) 6,153 5,673 (682 ) Total single-family 45,244 43,605 (3,820 ) 48,184 46,421 (4,369 ) Multifamily: With no allowance recorded (1) 70 66 N/A 89 82 N/A With an allowance recorded 19 17 — 3 3 — Total multifamily 89 83 — 92 85 — Total single-family and multifamily $45,333 $43,688 ($3,820 ) $48,276 $46,506 ($4,369 ) Referenced footnotes are included after the next table. 1Q 2019 1Q 2018 (In millions) Average Interest Interest Income Recognized On Cash Basis (3) Average Recorded Investment Interest Income Recognized Interest Income Recognized On Cash Basis (3) Single-family: With no allowance recorded: (1) 20- and 30-year or more, amortizing fixed-rate $2,686 $73 $4 $3,311 $94 $7 15-year amortizing fixed-rate 21 — — 20 1 — Adjustable rate 224 3 — 263 3 — Alt-A, interest-only, and option ARM 981 18 1 1,356 23 1 Total with no allowance recorded 3,912 94 5 4,950 121 8 With an allowance recorded: (2) 20- and 30-year or more, amortizing fixed-rate 35,338 484 57 47,868 592 83 15-year amortizing fixed-rate 686 6 1 869 8 3 Adjustable rate 147 1 1 226 2 1 Alt-A, interest-only, and option ARM 4,325 62 7 6,834 80 9 Total with an allowance recorded 40,496 553 66 55,797 682 96 Combined single-family: 20- and 30-year or more, amortizing fixed-rate 38,024 557 61 51,179 686 90 15-year amortizing fixed-rate 707 6 1 889 9 3 Adjustable rate 371 4 1 489 5 1 Alt-A, interest-only, and option ARM 5,306 80 8 8,190 103 10 Total single-family 44,408 647 71 60,747 803 104 Multifamily: With no allowance recorded (1) 66 1 — 84 2 1 With an allowance recorded 16 — — 36 — — Total multifamily 82 1 — 120 2 1 Total single-family and multifamily $44,490 $648 $71 $60,867 $805 $105 (1) Individually impaired loans with no allowance primarily represent those loans for which the collateral value is sufficiently in excess of the loan balance to result in recovery of the entire recorded investment if the property were foreclosed upon or otherwise subject to disposition. (2) Consists primarily of loans classified as TDRs. (3) Consists of income recognized during the period related to loans on non-accrual status.
Table - TDR Activity	The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs, based on the original product category of the loan before the loan was classified as a TDR. Loans classified as a TDR in one period may be subject to further action (such as a modification or remodification) in a subsequent period. In such cases, the subsequent action would not be reflected in the table below since the loan would already have been classified as a TDR. Table 4.10 - TDR Activity 1Q 2019 1Q 2018 (Dollars in millions) Number of Post-TDR Number of Post-TDR Single-family: (1) 20- and 30-year or more, amortizing fixed-rate 7,459 $1,200 19,699 $3,305 15-year amortizing fixed-rate 946 92 2,816 292 Adjustable-rate 157 25 319 57 Alt-A, interest-only, and option ARM 329 53 1,239 203 Total single-family 8,891 1,370 24,073 3,857 Multifamily — $— — $— (1) The pre-TDR recorded investment for single-family loans initially classified as TDR during 1Q 2019 and 1Q 2018 was $1.4 billion and $3.9 billion , respectively
Table - Payment Defaults of Completed TDR Modifications	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 4.11 - Payment Defaults of Completed TDR Modifications 1Q 2019 1Q 2018 (Dollars in millions) Number of Loans Post-TDR Recorded Investment Number of Loans Post-TDR Recorded Investment Single-family: 20- and 30-year or more, amortizing fixed-rate 3,856 $409 2,956 $443 15-year amortizing fixed-rate 125 7 170 15 Adjustable-rate 34 3 44 7 Alt-A, interest-only, and option ARM 310 44 275 54 Total single-family 4,325 463 3,445 519 Multifamily — $— — $—

Guarantee Activities (Tables)

Guarantee Activities (Tables)	3 Months Ended
	Mar. 31, 2019
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. Table 5.1 - Financial Guarantees March 31, 2019 December 31, 2018 ( Dollars in millions , terms in years) Maximum (1) Recognized (2) Maximum Maximum (1) Recognized (2) Maximum Single-family: Securitization activity guarantees $19,347 $242 40 $17,783 $220 40 Other mortgage-related guarantees 6,391 170 30 6,139 167 30 Total single-family $25,738 $412 $23,922 $387 Multifamily: Securitization activity guarantees $226,875 $2,808 39 $221,245 $2,746 40 Other mortgage-related guarantees 10,261 447 35 9,779 428 35 Total multifamily $237,136 $3,255 $231,024 $3,174 Other guarantees measured at fair value $22,568 $295 30 $16,251 $242 30 (1) The maximum exposure represents the contractual amounts that could be lost if counterparties or borrowers defaulted, without consideration of possible recoveries under credit enhancement arrangements, such as recourse provisions, third-party insurance contracts, or from collateral held or pledged. For other guarantees measured at fair value, this amount represents the notional value if it relates to our market value guarantees or guarantees of third-party derivative instruments or the UPB if it relates to a guarantee of a mortgage-related asset. For certain of our other guarantees measured at fair value, our exposure may be unlimited. We generally reduce our exposure to these guarantees with unlimited exposure through separate contracts with third parties. (2) For securitization activity guarantees and other mortgage-related guarantees, this amount represents the guarantee obligation on our condensed consolidated balance sheets. This amount excludes our reserve for guarantee losses, which totaled $51 million and $52 million as of March 31, 2019 and December 31, 2018 , respectively, and is included within other liabilities on our condensed consolidated balance sheets. For other guarantees measured at fair value, this amount represents the fair value of the contract.

Credit Enhancements (Tables)

Credit Enhancements (Tables)	3 Months Ended
	Mar. 31, 2019
Credit Enhancements [Abstract]
Table - 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 March 31, 2019 December 31, 2018 (In millions) Total Current and Protected UPB (1) Maximum Coverage Total Current and Protected UPB (1) Maximum Coverage Single-family: Primary mortgage insurance $385,483 $98,846 $378,594 $96,996 ACIS transactions (2) 853,942 9,803 807,885 9,123 STACR Trust transactions 222,837 6,966 161,152 5,026 Other 17,216 5,459 18,136 5,389 Total mortgage loan credit enhancements $121,074 $116,534 (1) Underlying loans may be covered by more than one form of credit enhancement. (2) As of March 31, 2019 and December 31, 2018, our counterparties posted collateral on our ACIS transactions of $1.8 billion and $1.5 billion , respectively.
Table - Guaranteed Credit Enhancement	The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to our single-family and multifamily guarantee credit enhancements. Table 6.2 - Guarantee Credit Enhancements March 31, 2019 December 31, 2018 (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) $17,724 $3,120 $16,271 $2,933 Other 1,201 1,201 1,226 1,226 Total single-family 4,321 4,159 Multifamily: Subordination (non-consolidated VIEs) 226,446 36,396 220,733 35,661 Other 2,267 793 2,349 815 Total multifamily 37,189 36,476 Total guarantee credit enhancements $41,510 $40,635 (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, which represents the UPB of the assets included in the trust net of the protection provided by the subordinated securities, and the UPB of guarantor advances made to the holders of the guaranteed securities. (2) For subordination, maximum coverage represents the outstanding UPB of the securities that are subordinate to Freddie Mac guaranteed securities 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.
Table - Debt with Embedded Credit Enhancement	The table below presents the total current and protected UPB and maximum amounts of potential loss recovery related to debt with embedded credit enhancements. Table 6.3 - Debt with Embedded Credit Enhancements March 31, 2019 December 31, 2018 (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 $600,857 $17,464 $605,263 $17,596 Subordination (consolidated VIEs) 24,525 1,018 25,006 1,036 Total single-family 18,482 18,632 Multifamily: SCR notes 2,655 133 2,667 133 Subordination (consolidated VIEs) 2,700 280 2,700 280 Total multifamily 413 413 Total debt with embedded credit enhancements $18,895 $19,045 (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, which represents the UPB of the assets included in the trust net of the protection provided by the subordinated 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 outstanding UPB of the securities that are subordinate to Freddie Mac guaranteed securities and held by third parties.

Investments in Securities (Tabl

Investments in Securities (Tables)	3 Months Ended
	Mar. 31, 2019
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) March 31, 2019 December 31, 2018 Trading securities $33,552 $35,548 Available-for-sale securities 31,944 33,563 Total fair value of investments in securities $65,496 $69,111
Table - Trading Securities	The table below presents the estimated fair values of our trading securities by major security type. Our non-mortgage-related securities primarily consist of investments in U.S. Treasury securities. Table 7.2 - Trading Securities (In millions) March 31, 2019 December 31, 2018 Mortgage-related securities: Freddie Mac $13,310 $13,821 Other agency 2,788 2,551 Non-agency 1 1 Total mortgage-related securities 16,099 16,373 Non-mortgage-related securities 17,453 19,175 Total fair value of trading securities $33,552 $35,548
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 March 31, 2019 Amortized Gross Gross Unrealized Losses Fair (In millions) Other-Than-Temporary Impairment (1) Temporary Impairment (2) Available-for-sale securities: Freddie Mac $28,841 $378 $— ($309 ) $28,910 Other agency 1,367 23 — (8 ) 1,382 Non-agency and other 1,320 333 — (1 ) 1,652 Total available-for-sale securities $31,528 $734 $— ($318 ) $31,944 December 31, 2018 Amortized Gross Gross Unrealized Losses Fair (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 and other 1,378 282 — (2 ) 1,658 Total available-for-sale securities $33,460 $640 $— ($537 ) $33,563 (1) Represents the gross unrealized losses for securities for which we have previously recognized other-than-temporary impairment in earnings. (2) Represents the gross unrealized losses for securities for which we have not previously recognized other-than-temporary impairment in earnings.
Table - Available-For-Sale Securities in a Gross Unrealized Loss Position	The tables below present available-for-sale securities in a gross unrealized loss position and whether such securities have been in an unrealized loss position for less than 12 months, or 12 months or greater. Table 7.4 - Available-for-Sale Securities in a Gross Unrealized Loss Position March 31, 2019 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 $2,627 ($7 ) $12,646 ($302 ) Other agency 323 (1 ) 579 (7 ) Non-agency and other 13 — 3 (1 ) Total available-for-sale securities in a gross unrealized loss position $2,963 ($8 ) $13,228 ($310 ) December 31, 2018 Less than 12 Months 12 Months or Greater (In millions) Fair Gross Unrealized Losses Fair Gross Unrealized Losses Available-for-sale securities: Freddie Mac $4,259 ($38 ) $14,751 ($490 ) Other agency 351 (1 ) 638 (6 ) Non-agency and other 43 (1 ) 6 (1 ) Total available-for-sale securities in a gross unrealized loss position $4,653 ($40 ) $15,395 ($497 )
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 (In millions) 1Q 2019 1Q 2018 Gross realized gains $63 $446 Gross realized losses (29 ) (51 ) Net realized gains (losses) $34 $395

Debt Securities and Subordina_2

Debt Securities and Subordinated Borrowings (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Table - Total Debt, Net	The table below summarizes the balances of total debt, net per our condensed consolidated balance sheets and the interest expense per our condensed consolidated statements of comprehensive income. Table 8.1 - Total Debt, Net Balance, Net Interest Expense (In millions) March 31, 2019 December 31, 2018 1Q 2019 1Q 2018 Debt securities of consolidated trusts held by third parties $1,803,707 $1,792,677 $13,981 $12,514 Other debt: Short-term debt 77,130 51,080 436 229 Long-term debt 192,777 201,193 1,416 1,214 Total other debt 269,907 252,273 1,852 1,443 Total debt, net $2,073,614 $2,044,950 $15,833 $13,957
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 March 31, 2019 December 31, 2018 (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 $1,408,759 $1,445,766 3.73 % 2019 - 2057 $1,389,113 $1,426,060 3.72 % 20-year fixed-rate 2019 - 2039 69,854 71,618 3.43 2019 - 2039 70,547 72,354 3.43 15-year fixed-rate 2019 - 2034 234,062 238,129 2.89 2019 - 2034 240,310 244,587 2.89 Adjustable-rate 2019 - 2049 37,201 37,951 3.20 2019 - 2049 38,361 39,153 3.12 Interest-only 2026 - 2041 4,940 5,001 4.64 2026 - 2048 5,322 5,386 4.41 FHA/VA 2020 - 2046 696 713 4.76 2019 - 2046 720 736 4.78 Total single-family 1,755,512 1,799,178 1,744,373 1,788,276 Multifamily 2019-2047 4,515 4,529 3.70 2019 - 2047 4,365 4,401 4.02 Total debt securities of consolidated trusts held by third parties $1,760,027 $1,803,707 $1,748,738 $1,792,677 (1) Includes $737 million and $755 million at March 31, 2019 and December 31, 2018, respectively, of debt of consolidated trusts that represents the fair value of debt securities with the fair value option elected. (2) The effective interest rate for debt securities of consolidated trusts held by third parties was 3.10% and 3.07% as of March 31, 2019 and December 31, 2018, respectively.
Table - Other Debt	The table below summarizes the balances and effective interest rates for other debt. Table 8.3 - Total Other Debt March 31, 2019 December 31, 2018 (Dollars in millions) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Other short-term debt: Discount notes and Reference Bills $45,854 $45,660 2.46 % $28,787 $28,621 2.36 % Medium-term notes 16,509 16,508 2.29 16,440 16,440 2.10 Securities sold under agreements to repurchase 14,962 14,962 2.50 6,019 6,019 2.40 Total other short-term debt 77,325 77,130 2.43 51,246 51,080 2.28 Other long-term debt: Original maturities on or before December 31, 2019 49,106 49,078 1.43 58,002 57,968 1.54 2020 40,721 40,705 1.82 42,296 42,275 1.78 2021 29,817 29,820 2.06 30,898 30,901 2.06 2022 23,253 23,228 2.50 20,802 20,775 2.46 2023 10,812 10,792 3.00 15,929 15,906 3.09 Thereafter 23,461 21,004 4.71 18,068 15,579 5.91 STACR and SCR debt (3) 17,597 17,876 6.19 17,729 18,004 6.04 Hedging-related basis adjustments N/A 274 N/A (215 ) Total other long-term debt 194,767 192,777 2.63 203,724 201,193 2.58 Total other debt (4) $272,092 $269,907 $254,970 $252,273 (1) Represents par value, net of associated discounts or premiums and issuance cost. Includes $4.3 billion and $4.4 billion at March 31, 2019 and December 31, 2018, respectively, of other long-term debt that represents the fair value of debt securities with the fair value option elected. (2) Based on carrying amount. (3) Contractual maturities of these debt securities are not presented because they are subject to prepayment risk, as their payments are based upon the performance of a pool of mortgage assets that may be prepaid by the related mortgage borrower at any time generally without penalty. (4) Carrying amount for other debt includes callable debt of $101.4 billion and $107.2 billion at March 31, 2019 and December 31, 2018, respectively.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Table - Derivative Assets and Liabilities at Fair Value	The table below presents the notional value and fair value of derivatives reported on our condensed consolidated balance sheets. Table 9.1 - Derivative Assets and Liabilities at Fair Value March 31, 2019 December 31, 2018 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 $162,499 $1,637 ($103 ) $145,386 $1,380 ($181 ) Pay-fixed 192,212 126 (3,095 ) 170,899 476 (2,287 ) Basis (floating to floating) 5,924 — — 5,404 1 — Total interest-rate swaps 360,635 1,763 (3,198 ) 321,689 1,857 (2,468 ) Option-based: Call swaptions Purchased 54,250 2,458 — 43,625 2,007 — Written 6,900 — (186 ) 4,400 — (133 ) Put swaptions Purchased (1) 76,545 1,036 — 88,075 1,565 — Written 3,750 — (9 ) 1,750 — (4 ) Other option-based derivatives (2) 10,444 653 — 10,481 628 — Total option-based 151,889 4,147 (195 ) 148,331 4,200 (137 ) Futures 126,627 — — 161,185 — — Commitments 76,516 188 (245 ) 36,044 90 (179 ) Credit derivatives 1,966 — (34 ) 2,030 — (35 ) Other 15,412 10 (98 ) 12,212 1 (103 ) Total derivatives not designated as hedges 733,045 6,108 (3,770 ) 681,491 6,148 (2,922 ) Designated as fair value hedges Interest-rate swaps: Receive-fixed 111,898 45 (520 ) 117,038 23 (935 ) Pay-fixed 74,060 121 (450 ) 77,513 247 (571 ) Total derivatives designated as fair value hedges 185,958 166 (970 ) 194,551 270 (1,506 ) Derivative interest and other receivable (payable) 1,117 (979 ) 889 (1,096 ) Netting adjustments (3) (6,245 ) 5,287 (6,972 ) 4,941 Total derivative portfolio, net $919,003 $1,146 ($432 ) $876,042 $335 ($583 ) (1) Includes swaptions on credit indices with a notional or contractual amount of $30.2 billion and $45.9 billion at March 31, 2019 and December 31, 2018 , respectively, and a fair value of $9.0 million and $113.0 million at March 31, 2019 and December 31, 2018 , respectively. (2) Primarily consists of purchased interest-rate caps and floors. (3) 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 condensed consolidated statements of comprehensive income as derivative gains (losses). Table 9.2 - Gains and Losses on Derivatives (In millions) 1Q 2019 1Q 2018 Not designated as hedges Interest-rate swaps: Receive-fixed $1,837 ($3,097 ) Pay-fixed (2,888 ) 4,641 Basis (floating to floating) 4 (30 ) Total interest-rate swaps (1,047 ) 1,514 Option-based: Call swaptions Purchased 454 (694 ) Written (56 ) 27 Put swaptions Purchased (626 ) 327 Written 16 (27 ) Other option-based derivatives (1) 25 (88 ) Total option-based (187 ) (455 ) Other: Futures (242 ) 387 Commitments (96 ) 518 Credit derivatives (4 ) 14 Other 24 (3 ) Total other (318 ) 916 Accrual of periodic cash settlements: Receive-fixed interest-rate swaps (51 ) 222 Pay-fixed interest-rate swaps (36 ) (368 ) Other 33 1 Total accrual of periodic cash settlements (54 ) (145 ) Total ($1,606 ) $1,830 (1) Primarily consists of purchased interest-rate caps and floors.
Table - Gains and Losses on Fair Value Hedge	Table 9.3 - Gains and Losses on Fair Value Hedges 1Q 2019 1Q 2018 (In millions) Interest Income - Mortgage Loans Interest Expense Interest Income - Mortgage Loans Interest Expense Total amounts of income and expense line items presented in our condensed consolidated statements of comprehensive income in which the effects of fair value hedges are recorded: $17,946 ($15,833 ) $15,951 ($13,957 ) Interest contracts on mortgage loans held-for-investment: Gain (loss) on fair value hedging relationships: Hedged items 1,542 — (1,973 ) — Derivatives designated as hedging instruments (1,243 ) — 1,687 — Interest accruals on hedging instruments 38 — (167 ) — Discontinued hedge related basis adjustment amortization 28 — 16 — Interest contracts on debt: Gain (loss) on fair value hedging relationships: Hedged items — (505 ) — 678 Derivatives designated as hedging instruments — 546 — (591 ) Interest accruals on hedging instruments — (125 ) — (14 ) Discontinued hedge related basis adjustment amortization — 9 — —
Cumulative Basis Adjustment on Fair Value Hedge [Table Text Block]	The tables below present the hedged item cumulative basis adjustments due to qualifying fair value hedging and the related hedged item carrying amounts by their respective balance sheet line item. Table 9.4 - Cumulative Basis Adjustments Due to Fair Value Hedging March 31, 2019 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 $211,939 $333 $333 Debt (122,078 ) (274 ) (118 ) 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 )

Collateral and Offsetting of _2

Collateral and Offsetting of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Offsetting [Abstract]
Table - Offsetting of Financial Assets and Liabilities	The tables below display offsetting and collateral information related to derivatives, securities purchased under agreements to resell, and securities sold under agreements to repurchase which are subject to enforceable master netting agreements or similar arrangements. Securities sold under agreements to repurchase are included in debt, net on our condensed consolidated balance sheets. Table 10.1 - Offsetting and Collateral Information of Financial Assets and Liabilities March 31, 2019 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $6,980 ($4,625 ) ($1,717 ) $638 ($583 ) $55 Cleared and exchange-traded derivatives 213 (1 ) 98 310 — 310 Other 198 — — 198 — 198 Total derivatives 7,391 (4,626 ) (1,619 ) 1,146 (583 ) 563 Securities purchased under agreements to resell (3) 50,134 — — 50,134 (50,134 ) — Total $57,525 ($4,626 ) ($1,619 ) $51,280 ($50,717 ) $563 Liabilities: Derivatives: OTC derivatives ($5,331 ) $4,625 $654 ($52 ) $— ($52 ) Cleared and exchange-traded derivatives (11 ) 1 7 (3 ) — (3 ) Other (377 ) — — (377 ) — (377 ) Total derivatives (5,719 ) 4,626 661 (432 ) — (432 ) Securities sold under agreements to repurchase (3) (14,962 ) — — (14,962 ) 14,962 — Total ($20,681 ) $4,626 $661 ($15,394 ) $14,962 ($432 ) Referenced footnotes are included after the next table. December 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,213 ($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) 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 (3) (6,019 ) — — (6,019 ) 6,019 — Total ($11,543 ) $4,544 $397 ($6,602 ) $6,019 ($583 ) (1) Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset. (2) Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability, netted by counterparty, presented on the condensed consolidated balance sheets. For cleared and exchange-traded derivatives, does not include non-cash collateral posted by us as initial margin with an aggregate fair value of $2.4 billion and $2.5 billion as of March 31, 2019 and December 31, 2018 , respectively. (3) Does not include the impacts of netting by central clearing organizations. We primarily execute securities purchased under agreements to resell transactions with central clearing organizations where we have the right to repledge the collateral that has been pledged to us, either with the central clearing organization or with other counterparties. At March 31, 2019 , and December 31, 2018 , we had $34.8 billion and $20.1 billion , respectively, of securities pledged to us in these transactions. In addition, at March 31, 2019 and December 31, 2018 , we had $1.9 billion and $2.5 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.
Table - Offsetting of Financial Assets and Liabilities	The tables below display offsetting and collateral information related to derivatives, securities purchased under agreements to resell, and securities sold under agreements to repurchase which are subject to enforceable master netting agreements or similar arrangements. Securities sold under agreements to repurchase are included in debt, net on our condensed consolidated balance sheets. Table 10.1 - Offsetting and Collateral Information of Financial Assets and Liabilities March 31, 2019 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $6,980 ($4,625 ) ($1,717 ) $638 ($583 ) $55 Cleared and exchange-traded derivatives 213 (1 ) 98 310 — 310 Other 198 — — 198 — 198 Total derivatives 7,391 (4,626 ) (1,619 ) 1,146 (583 ) 563 Securities purchased under agreements to resell (3) 50,134 — — 50,134 (50,134 ) — Total $57,525 ($4,626 ) ($1,619 ) $51,280 ($50,717 ) $563 Liabilities: Derivatives: OTC derivatives ($5,331 ) $4,625 $654 ($52 ) $— ($52 ) Cleared and exchange-traded derivatives (11 ) 1 7 (3 ) — (3 ) Other (377 ) — — (377 ) — (377 ) Total derivatives (5,719 ) 4,626 661 (432 ) — (432 ) Securities sold under agreements to repurchase (3) (14,962 ) — — (14,962 ) 14,962 — Total ($20,681 ) $4,626 $661 ($15,394 ) $14,962 ($432 ) Referenced footnotes are included after the next table. December 31, 2018 Gross Amount Recognized Amount Offset in the Consolidated Balance Sheets Net Amount Presented in the Consolidated Balance Sheets Gross Amount Not Offset in the Consolidated Balance Sheets (2) Net Amount (In millions) Counterparty Netting Cash Collateral Netting (1) Assets: Derivatives: OTC derivatives $7,213 ($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) 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 (3) (6,019 ) — — (6,019 ) 6,019 — Total ($11,543 ) $4,544 $397 ($6,602 ) $6,019 ($583 ) (1) Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset. (2) Does not include the fair value amount of non-cash collateral posted or held that exceeds the associated net asset or liability, netted by counterparty, presented on the condensed consolidated balance sheets. For cleared and exchange-traded derivatives, does not include non-cash collateral posted by us as initial margin with an aggregate fair value of $2.4 billion and $2.5 billion as of March 31, 2019 and December 31, 2018 , respectively. (3) 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 March 31, 2019 (In millions) Derivatives Securities sold under agreements to repurchase Other (3) Total Cash equivalents (1) $— $686 $— $686 Debt securities of consolidated trusts (2) 300 — 183 483 Available-for-sale securities — 2,934 3 2,937 Trading securities 2,130 11,432 23 13,585 Total securities pledged $2,430 $15,052 $209 $17,691 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 (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 condensed consolidated balance sheets. (3) Includes other collateralized borrowings and collateral related to transactions with certain clearinghouses.
Table - Underlying 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 March 31, 2019 (In millions) Overnight and continuous 30 days or less After 30 days through 90 days Greater than 90 days Total U.S. Treasury securities and other $2,940 $12,112 $— $— $15,052

Stockholders' Equity and Earn_2

Stockholders' Equity and Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2019
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 rate of 21% for 1Q 2019 and 1Q 2018, 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 1Q 2019 (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 $83 ($315 ) $97 ($135 ) Other comprehensive income before reclassifications 273 — (2 ) 271 Amounts reclassified from accumulated other comprehensive income (27 ) 18 (4 ) (13 ) Changes in AOCI by component 246 18 (6 ) 258 Ending balance $329 ($297 ) $91 $123 1Q 2018 (In millions) AOCI Related to Available- For-Sale Securities AOCI Related to Cash Flow Hedge Relationships AOCI Related to Defined Benefit Plans Total Beginning balance $662 ($356 ) $83 $389 Other comprehensive income before reclassifications (488 ) — (2 ) (490 ) Amounts reclassified from accumulated other comprehensive income (312 ) 30 (4 ) (286 ) Changes in AOCI by component (800 ) 30 (6 ) (776 ) Cumulative effect of change in accounting principle (1) 143 (73 ) 19 89 Ending balance $5 ($399 ) $96 ($298 ) (1) Includes the effect of adopting the accounting guidance on reclassification of stranded tax effects of the Tax Cuts and Jobs Act in 1Q 2018.
Table - Reclassifications from AOCI to Net Income	The table below presents reclassifications from AOCI to net income, including the affected line item in our condensed consolidated statements of comprehensive income. Table 11.2 - Reclassifications from AOCI to Net Income (In millions) 1Q 2019 1Q 2018 AOCI related to available-for-sale securities Affected line items in the consolidated statements of comprehensive income: Investment securities gains (losses) $34 $395 Total before tax 34 395 Income tax (expense) or benefit (7 ) (83 ) Net of tax 27 312 AOCI related to cash flow hedge relationships Affected line items in the consolidated statements of comprehensive income: Interest expense (23 ) (38 ) Income tax (expense) or benefit 5 8 Net of tax (18 ) (30 ) AOCI related to defined benefit plans Affected line items in the consolidated statements of comprehensive income: Salaries and employee benefits 5 5 Income tax (expense) or benefit (1 ) (1 ) Net of tax 4 4 Total reclassifications in the period net of tax $13 $286

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Table - Segment Earnings	The table below presents Segment Earnings by segment. Table 13.1 - Segment Earnings (In millions) 1Q 2019 1Q 2018 Segment Earnings (loss), net of taxes: Single-family Guarantee $740 $786 Multifamily 330 473 Capital Markets 337 1,667 All Other — — Total Segment Earnings, net of taxes 1,407 2,926 Net income (loss) $1,407 $2,926 Comprehensive income (loss) of segments: Single-family Guarantee $736 $782 Multifamily 395 405 Capital Markets 534 963 All Other — — Comprehensive income (loss) of segments 1,665 2,150 Comprehensive income (loss) $1,665 $2,150
Table - Segment Earnings and Reconciliation to GAAP Condensed Consolidated Statements of Comprehensive Income	The tables below present detailed reconciliations between our GAAP condensed consolidated statements of comprehensive income and Segment Earnings for our reportable segments and All Other. Table 13.2 - Segment Earnings and Reconciliations to GAAP Condensed Consolidated Statements of Comprehensive Income 1Q 2019 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 $— $247 $758 $— $1,005 $2,148 $3,153 Guarantee fee income 1,633 216 — — 1,849 (1,632 ) 217 Benefit (provision) for credit losses 8 (1 ) — — 7 128 135 Mortgage loans gains (losses) — 731 — — 731 200 931 Investment securities gains (losses) — (17 ) 195 — 178 (4 ) 174 Debt gains (losses) (21 ) 29 (7 ) — 1 14 15 Derivative gains (losses) (41 ) (772 ) (667 ) — (1,480 ) (126 ) (1,606 ) Other income (loss) 249 104 237 — 590 (556 ) 34 Administrative expense (374 ) (112 ) (92 ) — (578 ) — (578 ) REO operations (expense) income (38 ) — — — (38 ) 5 (33 ) Other non-interest (expense) income (488 ) (11 ) (1 ) — (500 ) (177 ) (677 ) Income tax (expense) benefit (188 ) (84 ) (86 ) — (358 ) — (358 ) Net income (loss) 740 330 337 — 1,407 — 1,407 Changes in unrealized gains (losses) related to available-for-sale securities — 66 180 — 246 — 246 Changes in unrealized gains (losses) related to cash flow hedge relationships — — 18 — 18 — 18 Changes in defined benefit plans (4 ) (1 ) (1 ) — (6 ) — (6 ) Total other comprehensive income (loss), net of taxes (4 ) 65 197 — 258 — 258 Comprehensive income (loss) $736 $395 $534 $— $1,665 $— $1,665 1Q 2018 Single-family Guarantee Multifamily Capital Markets All Other Total Segment Earnings (Loss) Reclassifications Total per Consolidated Statements of Comprehensive Income (In millions) Net interest income $— $271 $771 $— $1,042 $1,976 $3,018 Guarantee fee income 1,590 195 — — 1,785 (1,591 ) 194 Benefit (provision) for credit losses 41 16 — — 57 (120 ) (63 ) Mortgage loans gains (losses) — (346 ) — — (346 ) 131 (215 ) Investment securities gains (losses) — (158 ) 37 — (121 ) (111 ) (232 ) Debt gains (losses) 34 10 105 — 149 (28 ) 121 Derivative gains (losses) (6 ) 655 1,302 — 1,951 (121 ) 1,830 Other income (loss) 81 64 (31 ) — 114 17 131 Administrative expense (336 ) (100 ) (84 ) — (520 ) — (520 ) REO operations (expense) income (39 ) — — — (39 ) 5 (34 ) Other non-interest (expense) income (379 ) (13 ) (6 ) — (398 ) (158 ) (556 ) Income tax (expense) benefit (200 ) (121 ) (427 ) — (748 ) — (748 ) Net income (loss) 786 473 1,667 — 2,926 — 2,926 Changes in unrealized gains (losses) related to available-for-sale securities — (67 ) (733 ) — (800 ) — (800 ) Changes in unrealized gains (losses) related to cash flow hedge relationships — — 30 — 30 — 30 Changes in defined benefit plans (4 ) (1 ) (1 ) — (6 ) — (6 ) Total other comprehensive income (loss), net of taxes (4 ) (68 ) (704 ) — (776 ) — (776 ) Comprehensive income (loss) $782 $405 $963 $— $2,150 $— $2,150

Concentration of Credit and O_2

Concentration of Credit and Other Risks (Tables)	3 Months Ended
	Mar. 31, 2019
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 UPB of our single-family credit guarantee portfolio as of both March 31, 2019 and December 31, 2018. 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 March 31, 2019 December 31, 2018 Percent of Credit Losses Percentage of Portfolio Serious Delinquency Rate Percentage of Portfolio Serious Delinquency Rate 1Q 2019 1Q 2018 Core single-family loan portfolio 83 % 0.22 % 82 % 0.22 % 12 % 6 % Legacy and relief refinance single-family loan portfolio 17 1.91 18 1.93 88 94 Total 100 % 0.67 100 % 0.69 100 % 100 % Region (1) West 30 % 0.38 30 % 0.38 15 % 17 % Northeast 24 0.95 24 0.96 37 41 North Central 16 0.62 16 0.63 16 19 Southeast 16 0.83 16 0.90 25 18 Southwest 14 0.54 14 0.57 7 5 Total 100 % 0.67 100 % 0.69 100 % 100 % State (2) Florida 6 % 0.91 6 % 1.01 18 % 10 % New York 5 1.33 5 1.37 12 9 New Jersey 3 1.21 3 1.24 10 13 California 18 0.35 18 0.35 10 13 Illinois 4 0.86 5 0.86 10 9 All other 64 0.62 63 0.64 40 46 Total 100 % 0.67 % 100 % 0.69 % 100 % 100 % (1) Region designation: West (AK, AZ, CA, GU, HI, ID, MT, NV, OR, UT, WA); Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI); Southeast (AL, FL, GA, KY, MS, NC, PR, SC, TN, VI); Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY). (2) States presented based on those with the highest percentage of credit losses during 1Q 2019. 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 14.4 - Servicer Concentration Single-family Servicers March 31, 2019 (1) December 31, 2018 (1) Wells Fargo Bank, N.A. 17 % 17 % Other top 10 servicers 40 39 Top 10 single-family servicers 57 % 56 % Multifamily Servicers March 31, 2019 December 31, 2018 Wells Fargo Bank, N.A. 14 % 14 % CBRE Capital Markets, Inc. 11 14 Berkadia Commercial Mortgage LLC 11 11 Other top 10 servicers 39 36 Top 10 multifamily servicers 75 % 75 % The tables below summarize the concentration of single-family and multifamily sellers who provided 10% or more of our purchase volume. Table 14.3 - Seller Concentration Single-family Sellers 1Q 2019 1Q 2018 JPMorgan Chase Bank, N.A. 16 % 6 % United Shore Financial Services, LLC (1) 10 N/A Wells Fargo Bank, N.A. 8 15 Other top 10 sellers 23 30 Top 10 single-family sellers 57 % 51 % Multifamily Sellers 1Q 2019 1Q 2018 CBRE Capital Markets, Inc. 15 % 14 % Berkadia Commercial Mortgage LLC 13 11 Walker & Dunlop, LLC 9 12 Holliday Fenoglio Fowler, L.P. 5 10 Other top 10 sellers 35 32 Top 10 multifamily sellers 77 % 79 % 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 14.5 - Mortgage Insurer Concentration Mortgage Insurance Coverage (2) Mortgage Insurer Credit Rating (1) March 31, 2019 December 31, 2018 Arch Mortgage Insurance Company A- 23 % 24 % Radian Guaranty Inc. BBB 20 20 Mortgage Guaranty Insurance Corporation BBB 18 19 Genworth Mortgage Insurance Corporation BB+ 15 14 Essent Guaranty, Inc. BBB+ 14 14 Total 90 % 91 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Latest rating available as of March 31, 2019. Represents the lower of S&P and Moody’s credit ratings stated in terms of the S&P equivalent. (2) Includes primary mortgage insurance and pool insurance. Coverage amounts may include coverage provided by affiliates and subsidiaries of the counterparty
Table - Certain Higher Risk Categories In Our Single Family Credit Guarantee Portfolio	Presented below is a summary of the serious delinquency rates of certain higher-risk categories (based on characteristics of the loan at origination) of loans in our single-family credit guarantee portfolio. The table includes a presentation of each higher-risk category in isolation. A single loan may fall within more than one category (for example, an interest-only loan may also have an original LTV ratio greater than 90%). Loans with a combination of these attributes will have an even higher risk of delinquency than those with an individual attribute. 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) March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Interest-only 1 % 1 % 3.35 % 3.43 % Alt-A 1 1 4.17 4.13 Original LTV ratio greater than 90% (2) 18 18 0.99 1.04 Lower credit scores at origination (less than 620) 2 2 4.50 4.59 (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)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Table - Assets and Liabilities Measured at Fair Value on a Recurring Basis	The tables below present our assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis subsequent to initial recognition, including instruments where we have elected the fair value option. Table 15.1 - Assets and Liabilities Measured at Fair Value on a Recurring Basis March 31, 2019 (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 $— $25,347 $3,563 $— $28,910 Other agency — 1,346 36 — 1,382 Non-agency and other — 19 1,633 — 1,652 Total available-for-sale securities, at fair value — 26,712 5,232 — 31,944 Trading, at fair value: Mortgage-related securities: Freddie Mac — 10,259 3,051 — 13,310 Other agency — 2,781 7 — 2,788 All other — — 1 — 1 Total mortgage-related securities — 13,040 3,059 — 16,099 Non-mortgage-related securities 14,782 2,671 — — 17,453 Total trading securities, at fair value 14,782 15,711 3,059 — 33,552 Total investments in securities 14,782 42,423 8,291 — 65,496 Mortgage loans: Held-for-sale, at fair value — 20,576 — — 20,576 Derivative assets, net: Interest-rate swaps — 1,929 — — 1,929 Option-based derivatives — 4,147 — — 4,147 Other — 187 11 — 198 Subtotal, before netting adjustments — 6,263 11 — 6,274 Netting adjustments (1) — — — (5,128 ) (5,128 ) Total derivative assets, net — 6,263 11 (5,128 ) 1,146 Other assets: Guarantee asset, at fair value — — 3,795 — 3,795 Non-derivative held-for-sale purchase commitments, at fair value — 237 — — 237 All other, at fair value — — 150 — 150 Total other assets — 237 3,945 — 4,182 Total assets carried at fair value on a recurring basis $14,782 $69,499 $12,247 ($5,128 ) $91,400 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $7 $731 $— $738 Other debt, at fair value — 4,115 214 — 4,329 Derivative liabilities, net: Interest-rate swaps — 4,168 — — 4,168 Option-based derivatives — 195 — — 195 Other — 319 58 — 377 Subtotal, before netting adjustments — 4,682 58 — 4,740 Netting adjustments (1) — — — (4,308 ) (4,308 ) Total derivative liabilities, net — 4,682 58 (4,308 ) 432 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 4 — — 4 All other, at fair value — — 1 — 1 Total liabilities carried at fair value on a recurring basis $— $8,808 $1,004 ($4,308 ) $5,504 Referenced footnote is included after the next table. 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 and other — 18 1,640 — 1,658 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 (1) Represents counterparty netting, cash collateral netting, and net derivative interest receivable or payable.
Table - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs	The tables below present a reconciliation of all assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3. The tables also present gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized 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 1Q 2019 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 $4,097 ($18 ) $72 $54 $52 $— ($486 ) ($96 ) $— ($58 ) $3,563 ($1 ) Other agency 38 — — — — — — (2 ) — — 36 — Non-agency and other 1,640 4 50 54 — — — (61 ) — — 1,633 4 Total available-for-sale mortgage-related securities 5,775 (14 ) 122 108 52 — (486 ) (159 ) — (58 ) 5,232 3 Trading, at fair value: Mortgage-related securities: Freddie Mac 3,286 (59 ) — (59 ) 143 — (115 ) (24 ) — (180 ) 3,051 (61 ) Other agency 7 — — — — — — — — — 7 — All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 3,294 (59 ) — (59 ) 143 — (115 ) (24 ) — (180 ) 3,059 (61 ) Other assets: Guarantee asset 3,633 35 — 35 — 282 — (155 ) — — 3,795 35 All other, at fair value 137 (34 ) — (34 ) 52 9 (12 ) (2 ) — — 150 (33 ) Total other assets $3,770 $1 $— $1 $52 $291 ($12 ) ($157 ) $— $— $3,945 $2 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 $728 $2 $— $2 $— $— $— $— $— $— $730 $2 Other debt, at fair value 134 — — — — 80 — — — — 214 — Net derivatives (2) 91 (38 ) — (38 ) — — — (5 ) — — 48 (43 ) All other, at fair value — (2 ) — (2 ) 3 — — — — — 1 (2 ) Referenced footnotes are included after the prior period tables. 1Q 2018 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $6,751 ($6 ) ($152 ) ($158 ) $433 $— $— ($257 ) $— $— $6,769 ($6 ) Other agency 46 — — — — — — (2 ) — — 44 — Non-agency and other 4,291 449 (453 ) (4 ) — — (1,467 ) (129 ) — — 2,691 17 Total available-for-sale mortgage-related securities 11,088 443 (605 ) (162 ) 433 — (1,467 ) (388 ) — — 9,504 11 Trading, at fair value: Mortgage-related securities: Freddie Mac 2,907 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,038 (111 ) Other agency 9 — — — — — — — — — 9 — All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 2,917 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,048 (111 ) Other assets: Guarantee asset 3,171 16 — 16 — 235 — (137 ) — — 3,285 16 All other, at fair value 45 6 — 6 43 9 (15 ) — — — 88 3 Total other assets $3,216 $22 $— $22 $43 $244 ($15 ) ($137 ) $— $— $3,373 $19 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in other Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $630 ($1 ) $— ($1 ) $— $— $— $— $— $— $629 ($1 ) Other debt, at fair value 137 — — — — — — (2 ) — — 135 — Net derivatives (2) 57 9 — 9 — (22 ) — (4 ) — — 40 6 (1) Transfers out of Level 3 during 1Q 2019 and 1Q 2018 consisted primarily of certain mortgage-related securities due to an increased volume and level of activity in the market and availability of price quotes from dealers and third-party pricing services. Certain Freddie Mac securities are classified as Level 3 at issuance and generally are classified as Level 2 when they begin trading. Transfers into Level 3 during 1Q 2019 and 1Q 2018 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 March 31, 2019 and March 31, 2018, respectively. Included in these amounts are other-than temporary impairments recorded on available-for-sale securities.
Table - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs	The tables below present a reconciliation of all assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis using significant unobservable inputs (Level 3), including transfers into and out of Level 3. The tables also present gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized 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 1Q 2019 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 $4,097 ($18 ) $72 $54 $52 $— ($486 ) ($96 ) $— ($58 ) $3,563 ($1 ) Other agency 38 — — — — — — (2 ) — — 36 — Non-agency and other 1,640 4 50 54 — — — (61 ) — — 1,633 4 Total available-for-sale mortgage-related securities 5,775 (14 ) 122 108 52 — (486 ) (159 ) — (58 ) 5,232 3 Trading, at fair value: Mortgage-related securities: Freddie Mac 3,286 (59 ) — (59 ) 143 — (115 ) (24 ) — (180 ) 3,051 (61 ) Other agency 7 — — — — — — — — — 7 — All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 3,294 (59 ) — (59 ) 143 — (115 ) (24 ) — (180 ) 3,059 (61 ) Other assets: Guarantee asset 3,633 35 — 35 — 282 — (155 ) — — 3,795 35 All other, at fair value 137 (34 ) — (34 ) 52 9 (12 ) (2 ) — — 150 (33 ) Total other assets $3,770 $1 $— $1 $52 $291 ($12 ) ($157 ) $— $— $3,945 $2 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 $728 $2 $— $2 $— $— $— $— $— $— $730 $2 Other debt, at fair value 134 — — — — 80 — — — — 214 — Net derivatives (2) 91 (38 ) — (38 ) — — — (5 ) — — 48 (43 ) All other, at fair value — (2 ) — (2 ) 3 — — — — — 1 (2 ) Referenced footnotes are included after the prior period tables. 1Q 2018 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) (In millions) Included in Included in other Total Assets Investments in securities: Available-for-sale, at fair value: Mortgage-related securities: Freddie Mac $6,751 ($6 ) ($152 ) ($158 ) $433 $— $— ($257 ) $— $— $6,769 ($6 ) Other agency 46 — — — — — — (2 ) — — 44 — Non-agency and other 4,291 449 (453 ) (4 ) — — (1,467 ) (129 ) — — 2,691 17 Total available-for-sale mortgage-related securities 11,088 443 (605 ) (162 ) 433 — (1,467 ) (388 ) — — 9,504 11 Trading, at fair value: Mortgage-related securities: Freddie Mac 2,907 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,038 (111 ) Other agency 9 — — — — — — — — — 9 — All other 1 — — — — — — — — — 1 — Total trading mortgage-related securities 2,917 (124 ) — (124 ) 817 — (455 ) (21 ) — (86 ) 3,048 (111 ) Other assets: Guarantee asset 3,171 16 — 16 — 235 — (137 ) — — 3,285 16 All other, at fair value 45 6 — 6 43 9 (15 ) — — — 88 3 Total other assets $3,216 $22 $— $22 $43 $244 ($15 ) ($137 ) $— $— $3,373 $19 Balance, Realized and unrealized gains (losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Unrealized (3) Included in Included in other Total Liabilities Debt securities of consolidated trusts held by third parties, at fair value $630 ($1 ) $— ($1 ) $— $— $— $— $— $— $629 ($1 ) Other debt, at fair value 137 — — — — — — (2 ) — — 135 — Net derivatives (2) 57 9 — 9 — (22 ) — (4 ) — — 40 6 (1) Transfers out of Level 3 during 1Q 2019 and 1Q 2018 consisted primarily of certain mortgage-related securities due to an increased volume and level of activity in the market and availability of price quotes from dealers and third-party pricing services. Certain Freddie Mac securities are classified as Level 3 at issuance and generally are classified as Level 2 when they begin trading. Transfers into Level 3 during 1Q 2019 and 1Q 2018 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 March 31, 2019 and March 31, 2018, 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 condensed consolidated balance sheets at fair value on a recurring basis. Table 15.3 - Quantitative Information about Recurring Level 3 Fair Value Measurements March 31, 2019 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 $2,770 Discounted cash flows OAS 30 - 261 bps 87 bps 793 Single external source External pricing sources $96.5 - $106.5 $103.8 Non-agency and other 1,416 Median of external sources External pricing sources $64.9 - $70.5 $67.4 217 Single external source External pricing sources $97.7 - $114.4 $101.1 Trading, at fair value Mortgage-related securities Freddie Mac 2,043 Single external source External pricing sources $0.0 - $99.6 $46.7 1,008 Discounted cash flows OAS (21,945) - 8,039 bps 617 bps Guarantee asset, at fair value 3,543 Discounted cash flows OAS 17-198 bps 44 bps 251 Other Insignificant Level 3 assets (1) 195 Total level 3 assets $12,236 Liabilities Debt securities of consolidated trusts held by third parties, at fair value $731 Single External Source External Pricing Sources 98.0 -102.2 bps $100.0 Insignificant Level 3 liabilities (1) 263 Referenced footnote is included after the next table. December 31, 2018 Level 3 Predominant 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 $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 and other 1,403 Median of external sources External pricing sources $64.3 - $71.1 $67.3 237 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 (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 - Assets Measured at Fair Value on a Nonrecurring Basis	The table below presents assets measured on our condensed consolidated balance sheets at fair value on a non-recurring basis. Table 15.4 - Assets Measured at Fair Value on a Non-Recurring Basis March 31, 2019 December 31, 2018 (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) $— $91 $5,414 $5,505 $— $24 $7,519 $7,543 (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 condensed consolidated balance sheets at fair value on a non-recurring basis. Table 15.5 - Quantitative Information about Non-Recurring Level 3 Fair Value Measurements March 31, 2019 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 $5,414 Internal model Historical sales proceeds $3,400 - $782,100 $177,593 Internal model Housing sales index 44 - 486 bps 108 bps Median of external sources External pricing sources $32.3 - $95.0 $83.7 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
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 March 31, 2019 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 Amortized cost $6,239 $6,179 $60 $— $— $6,239 Securities purchased under agreements to resell Amortized cost 50,134 — 50,134 — — 50,134 Investments in securities: Available-for-sale, at fair value FV - OCI 31,944 — 26,712 5,232 — 31,944 Trading, at fair value FV - NI 33,552 14,782 15,711 3,059 — 33,552 Total investments in securities 65,496 14,782 42,423 8,291 — 65,496 Mortgage loans: Loans held by consolidated trusts 1,858,079 — 1,640,585 216,487 — 1,857,072 Loans held by Freddie Mac 84,009 — 34,688 51,860 — 86,548 Total mortgage loans Various (3) 1,942,088 — 1,675,273 268,347 — 1,943,620 Derivative assets, net FV - NI 1,146 — 6,263 11 (5,128 ) 1,146 Guarantee asset FV - NI 3,795 — — 3,803 — 3,803 Non-derivative purchase commitments, at fair value FV - NI 237 — 237 5 — 242 Secured lending and other Amortized cost 3,151 — 544 1,759 — 2,303 Total financial assets $2,072,286 $20,961 $1,774,934 $282,216 ($5,128 ) $2,072,983 Financial Liabilities Debt, net: Debt securities of consolidated trusts held by third parties $1,803,707 $— $1,797,267 $3,238 $— $1,800,505 Other debt 269,907 — 269,561 3,713 — 273,274 Total debt, net Various (4) 2,073,614 — 2,066,828 6,951 — 2,073,779 Derivative liabilities, net FV - NI 432 — 4,682 58 (4,308 ) 432 Guarantee obligation Amortized cost 3,667 — — 3,988 — 3,988 Non-derivative purchase commitments, at fair value FV - NI 4 — 4 21 — 25 Total financial liabilities $2,077,717 $— $2,071,514 $11,018 ($4,308 ) $2,078,224 (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) As of March 31, 2019, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $1.9 trillion , $19.2 billion , and $20.6 billion , respectively. (4) As of March 31, 2019, the GAAP carrying amounts measured at amortized cost and FV - NI were $2.1 trillion and $5.1 billion , respectively. 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 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 (3) 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 (4) 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) 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. (4) 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.
Table - Difference between Fair Value and UPB 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 and other debt held by third parties with a fair value of $88 million and $26 million and multifamily held-for-sale loan purchase commitments with a fair value of $233 million and $142 million , as of March 31, 2019 and December 31, 2018, respectively. Table 15.7 - Difference between Fair Value and UPB for Certain Financial Instruments with Fair Value Option Elected March 31, 2019 December 31, 2018 (In millions) Multifamily Held-For-Sale Loans Other Debt - Long Term Debt Securities Of Consolidated Trusts Held By Third Parties Multifamily Held-For-Sale Loans Other Debt - Long Term Debt Securities Of Consolidated Trusts Held By Third Parties Fair value $20,576 $4,248 $730 $23,106 $4,357 $728 UPB 19,793 3,889 730 22,693 3,998 730 Difference $783 $359 $— $413 $359 ($2 ) The table below presents the changes in fair value included in non-interest income (loss) in our condensed 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 1Q 2019 1Q 2018 (In millions) Gains (Losses) Multifamily held-for-sale loans $341 ($458 ) Multifamily held-for-sale loan purchase commitments 390 105 Other debt - long term (2 ) 9 Debt securities of consolidated trusts held by third parties (2 ) 2

Regulatory Capital (Tables)

Regulatory Capital (Tables)	3 Months Ended
	Mar. 31, 2019
Mortgage Banking [Abstract]
Table - Net Worth and Minimum Capital	We continue to provide quarterly submissions to FHFA on minimum capital. The table below summarizes our minimum capital requirements and deficits and net worth. Table 17.1 - Net Worth and Minimum Capital (In millions) March 31, 2019 December 31, 2018 GAAP net worth (deficit) $4,665 $4,477 Core capital (deficit) (1)(2) (68,106 ) (68,036 ) Less: Minimum capital requirement (1) 18,127 17,553 Minimum capital surplus (deficit) (1) ($86,233 ) ($85,589 ) (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)	3 Months Ended
	Mar. 31, 2019
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 condensed consolidated statements of comprehensive income (loss). Table 18.1 - Significant Components of Other Income (Loss) (In millions) 1Q 2019 1Q 2018 Other income (loss): Income on guarantee obligation $192 $171 All other (158 ) (40 ) Total other income (loss) $34 $131
Table - Significant Components of Other Assets and Other Liabilities	The table below presents the significant components of other assets and other liabilities on our condensed consolidated balance sheets. Table 18.2 - Significant Components of Other Assets and Other Liabilities (In millions) March 31, 2019 December 31, 2018 Other assets: Real estate owned, net $744 $769 Accounts and other receivables (1) 4,462 2,447 Guarantee asset 3,795 3,633 Secured lending and other 3,151 1,805 All other 2,149 2,322 Total other assets $14,301 $10,976 Other liabilities: Guarantee obligation $3,667 $3,561 Payables related to securities 1,442 — All other 2,529 2,837 Total other liabilities $7,638 $6,398 (1) Primarily consists of servicer receivables and other non-interest receivables.

Conservatorship and Related M_2

Conservatorship and Related Matters (Details) - USD ($)	3 Months Ended		54 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019
Related Party Transaction [Line Items]
Maximum limit of the UPB of mortgage-related investments portfolio	$ 225,000,000,000		$ 225,000,000,000
UPB of mortgage-related investments portfolio	218,900,000,000		218,900,000,000
Increase in liquidation preference of senior preferred stock	0	$ 312,000,000
Funding available under Purchase Agreement	140,200,000,000		140,200,000,000
CSS
Related Party Transaction [Line Items]
Amount of related party transaction	$ 36,000,000		$ 500,000,000

Securitization Activities and_3

Securitization Activities and Consolidation - Consolidated VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Variable Interest Entity, Consolidated, Carrying Amount, Assets [Abstract]
Cash and cash equivalents	$ 6,239	$ 7,273	$ 8,617	$ 9,811
Restricted cash and cash equivalents	735	596
Securities purchased under agreement to resell	50,134	34,771
Mortgage loans held-for-investment	1,902,270	1,885,356
Accrued interest receivable	6,684	6,728
Other assets	14,301	10,976
Total assets	2,092,907	2,063,060
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities [Abstract]
Accrued interest payable	6,558	6,652
Debt, net	2,073,614	2,044,950
Total liabilities	2,088,242	2,058,583
Held by consolidated trusts
Variable Interest Entity, Consolidated, Carrying Amount, Assets [Abstract]
Cash and cash equivalents	696	567
Restricted cash and cash equivalents	695	566
Securities purchased under agreement to resell	13,500	12,125
Mortgage loans held-for-investment	1,858,079	1,842,850
Accrued interest receivable	5,991	5,914
Other assets	2,321	1,631
Total assets	1,880,587	1,863,087
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities [Abstract]
Accrued interest payable	5,386	5,335
Debt, net	1,803,707	1,792,677
Total liabilities	$ 1,809,093	$ 1,798,012

Securitization Activities and_4

Securitization Activities and Consolidation - Non-Consolidated VIEs (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Assets [Abstract]
Investments in securities, at fair value	$ 65,496	$ 69,111
Accrued interest receivable	6,684	6,728
Derivative Assets, net	1,146	335
Other Assets	14,301	10,976
Liabilities [Abstract]
Derivative Liabilities, net	432	583
Other Liabilities	7,638	6,398
Variable Interest Entity, Not Primary Beneficiary
Assets [Abstract]
Investments in securities, at fair value	42,219	44,020
Accrued interest receivable	213	235
Derivative Assets, net	9	1
Other Assets	3,272	3,119
Liabilities [Abstract]
Derivative Liabilities, net	82	88
Other Liabilities	3,111	3,049
Maximum Exposure to Loss	248,263	241,055
Total Assets of Non-Consolidated VIEs	$ 294,746	$ 284,724

Mortgage Loans and Loan Loss _3

Mortgage Loans and Loan Loss Reserves (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)numberofloans	Mar. 31, 2018USD ($)numberofloans	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivables [Line Items]
Noncash acquisition, mortgage loans held-for-investment acquired in exchange for issuance of debt securities of consolidated trusts	$ 37,000	$ 36,100
Transfers from advances to lenders to loans HFI	$ 6,500	$ 4,800
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
Number of Loans, Modifications, Subsequent Default | numberofloans	4,325	3,445
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 463	$ 519
Interest rate reduction and term extension types, percentage of completed modifications	8.00%	19.00%
Principal forebearance and interest rate reductions and term extension types, percentage of completed modifications	23.00%	29.00%
Average term extension, number of months of completed modifications	164 months	166 months
Average interest rate reduction, percentage of completed modifications	0.10%	0.40%
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
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	5.30%		6.60%
Held by consolidated trusts
Accounts, Notes, Loans and Financing Receivables [Line Items]
Allowance for loan losses as a percentage of recorded investment of mortgage loans, held for investment	0.20%		0.20%
Other loss mitigation activities
Accounts, Notes, Loans and Financing Receivables [Line Items]
Number of Loans, Modifications, Subsequent Default | numberofloans	1,464	1,710
Post-TDR Recorded Investment, Modifications, Subsequent Default	$ 200	$ 200

Mortgage Loans and Loan Loss _4

Mortgage Loans and Loan Loss Reserves - Mortgage Loans (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	$ 42,916	$ 44,905
Cost basis and fair value adjustments, net HFS	(3,098)	(3,283)
Total held-for-sale loans, net	39,818	41,622
UPB of mortgage loans - HFI	1,879,060	1,864,941
Cost basis adjustment HFI	28,756	26,554
Allowance for loan losses on mortgage loans held-for-investment	(5,546)	(6,139)
Total held-for-investment mortgage loans, net	1,902,270	1,885,356
Total mortgage loans, net	1,942,088	1,926,978
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	21,696	20,946
UPB of mortgage loans - HFI	1,864,438	1,849,893
Allowance for loan losses on mortgage loans held-for-investment	(5,536)	(6,130)
Total held-for-investment mortgage loans, net	1,887,676	1,870,335
Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	21,220	23,959
UPB of mortgage loans - HFI	14,622	15,048
Allowance for loan losses on mortgage loans held-for-investment	(10)	(9)
Total held-for-investment mortgage loans, net	14,594	15,021
Held by Freddie Mac
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	42,916	44,905
Cost basis and fair value adjustments, net HFS	(3,098)	(3,283)
Total held-for-sale loans, net	39,818	41,622
UPB of mortgage loans - HFI	47,546	46,713
Cost basis adjustment HFI	(882)	(1,198)
Allowance for loan losses on mortgage loans held-for-investment	(2,473)	(3,009)
Total held-for-investment mortgage loans, net	44,191	42,506
Total mortgage loans, net	84,009	84,128
Held by Freddie Mac | Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	21,696	20,946
UPB of mortgage loans - HFI	36,892	35,885
Held by Freddie Mac | Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	21,220	23,959
UPB of mortgage loans - HFI	10,654	10,828
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	1,831,514	1,818,228
Cost basis adjustment HFI	29,638	27,752
Allowance for loan losses on mortgage loans held-for-investment	(3,073)	(3,130)
Total held-for-investment mortgage loans, net	1,858,079	1,842,850
Total mortgage loans, net	1,858,079	1,842,850
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	1,827,546	1,814,008
Held by consolidated trusts | Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	0	0
UPB of mortgage loans - HFI	$ 3,968	$ 4,220

Mortgage Loans and Loan Loss _5

Mortgage Loans and Loan Loss Reserves Mortgage Loans and Loan Loss Reserves - Loans Purchased, Reclassified from Held-for-Investment to Held-for-Sale and Sold (Details) - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Single-family | Held-for-Investment
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Significant Purchases	$ 69.7	$ 65.5
Financing Receivable, Reclassification to Held-for-sale	4.1	1.7
Single-family | Held-for-Sale
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Significant Sales	2.1	1.8
Multifamily | Held-for-Investment
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Significant Purchases	1	1
Financing Receivable, Reclassification to Held-for-sale	0.5	0.3
Multifamily | Held-for-Sale
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Significant Purchases	11.6	11.8
Financing Receivable, Significant Sales	$ 14.7	$ 16.2

Mortgage Loans and Loan Loss _6

Mortgage Loans and Loan Loss Reserves - Recorded Investment of Held-For-Investment Loans by Current LTV Ratio (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,907,816	$ 1,891,495
Single-Family serious delinquency rate	0.67%	0.69%
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,582,160	$ 1,557,667
Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	249,999	255,831
Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	43,531	44,007
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	17,522	18,960
Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,893,212	$ 1,876,465
Single-Family serious delinquency rate	0.67%	0.69%
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	$ 1,354,643	$ 1,336,310
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	245,503	251,152
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	41,593	42,117
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	15,490	16,498
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	1,657,229	1,646,077
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	221,796	214,703
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	4,366	4,522
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	1,930	1,883
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	1,610	1,903
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	229,702	223,011
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	5,721	6,654
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	130	157
Greater Than 100 Estimated Current LTV Ratio | Single-family Adjustable-rate
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	8	7
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	422	559
Greater Than 100 Estimated Current LTV Ratio | Single Family Loans
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 6,281	$ 7,377
Single-Family serious delinquency rate	6.89%	7.24%

Mortgage Loans and Loan Loss _7

Mortgage Loans and Loan Loss Reserves - Recorded Investment of Multifamily Held-for-Investment Loans by Credit Quality Indicator (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	$ 1,907,816	$ 1,891,495
Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	14,604	15,030
Pass | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	14,275	14,648
Special Mention | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	117	201
Substandard | Multifamily
Financing Receivable, Recorded Investment [Line Items]
Recorded investment of held-for-investment loans	212	181
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 - Recorded Investment of Held-for-Investment Loans by Payment Status (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	$ 1,880,258	$ 1,862,429
Total recorded investment	1,907,816	1,891,495
Non-Accrual	7,603	8,138
Mortgage Loans in Process of Foreclosure, Amount	2,600	2,900
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,558,264	1,532,499
Total recorded investment	1,582,160	1,557,667
Non-Accrual	6,476	6,881
Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	248,583	254,376
Total recorded investment	249,999	255,831
Non-Accrual	259	263
Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	43,092	43,549
Total recorded investment	43,531	44,007
Non-Accrual	109	113
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	15,715	16,975
Total recorded investment	17,522	18,960
Non-Accrual	745	864
Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	1,865,654	1,847,399
Total recorded investment	1,893,212	1,876,465
Non-Accrual	7,589	8,121
Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	14,604	15,030
Total recorded investment	14,604	15,030
Non-Accrual	14	17
One month past due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	16,104	16,784
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	14,059	14,683
One month past due | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	991	1,021
One month past due | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	272	287
One month past due | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	782	793
One month past due | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	16,104	16,784
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	3,863	4,158
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	3,359	3,602
Two months past due | Single-family 15-year amortizing fixed-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	166	171
Two months past due | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	58	58
Two months past due | Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	280	327
Two months past due | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	3,863	4,158
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	7,591	8,124
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	6,478	6,883
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	259	263
Three months or more past due or in foreclosure | Single-family Adjustable-rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	109	113
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	745	865
Three months or more past due or in foreclosure | Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	7,591	8,124
Three months or more past due or in foreclosure | Multifamily
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past Due	$ 0	$ 0

Mortgage Loans and Loan Loss _9

Mortgage Loans and Loan Loss Reserves - Delinquency Rates (Details) $ in Millions	Mar. 31, 2019USD ($)numberofloans	Dec. 31, 2018USD ($)numberofloans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.67%	0.69%
Single-family
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Serious delinquency rate	0.67%	0.69%
Total number of seriously delinquent loans	73,574	75,649
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	0.82%	0.83%
Total number of seriously delinquent loans	49,009	51,197
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	0.82%	0.86%
Total number of seriously delinquent loans	14,841	15,287
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%	0.31%
Total number of seriously delinquent loans	13,817	12,920
Multifamily
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Delinquency Rate	0.03%	0.01%
UPB of delinquent loans | $	$ 72	$ 30
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%	0.00%
UPB of delinquent loans | $	$ 2	$ 2
Multifamily | Credit-enhanced portfolio
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Delinquency Rate	0.03%	0.01%
UPB of delinquent loans | $	$ 70	$ 28

Mortgage Loans and Loan Loss_10

Mortgage Loans and Loan Loss Reserves - Detail of Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Rollforward of Allowance for Loan Losses
Ending balance	$ 5,597	$ 8,903
Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Beginning balance	52
Ending balance	51	55
Held by Freddie Mac | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Ending balance	2,473	5,322
Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Ending balance	3,073	3,526
Single-family
Rollforward of Allowance for Loan Losses
Beginning balance	6,176	8,979
Provision (benefit) for credit losses	(136)	79
Charge-offs	(605)	(372)
Recoveries	106	96
Transfers, net	0	0
Other	41	95
Ending balance	5,582	8,877
Single-family | Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Beginning balance	46	48
Provision (benefit) for credit losses	1	2
Charge-offs	(1)	(2)
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	3,003	5,251
Provision (benefit) for credit losses	(201)	98
Charge-offs	(585)	(355)
Recoveries	103	95
Transfers, net	107	126
Other	38	90
Ending balance	2,465	5,305
Single-family | Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Beginning balance	3,127	3,680
Provision (benefit) for credit losses	64	(21)
Charge-offs	(19)	(15)
Recoveries	3	1
Transfers, net	(107)	(126)
Other	3	5
Ending balance	3,071	3,524
Multifamily
Rollforward of Allowance for Loan Losses
Ending balance	15	26
Multifamily | Reserve for guarantee losses
Rollforward of Allowance for Loan Losses
Ending balance	5	7
Multifamily | Held by Freddie Mac | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Ending balance	8	17
Multifamily | Held by consolidated trusts | Allowance for loan losses
Rollforward of Allowance for Loan Losses
Ending balance	$ 2	$ 2

Mortgage Loans and Loan Loss_11

Mortgage Loans and Loan Loss Reserves - Net Investment in Loans (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	$ 1,864,128	$ 1,844,989
Recorded investment, individually evaluated	43,688	46,506
Total recorded investment	1,907,816	1,891,495
Allowance for loan losses, collectively evaluated	(1,726)	(1,770)
Allowance for loan losses, individually evaluated	(3,820)	(4,369)
Total ending balance of the allowance	(5,546)	(6,139)
Total held-for-investment mortgage loans, net	1,902,270	1,885,356
Single-family
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	1,849,607	1,830,044
Recorded investment, individually evaluated	43,605	46,421
Total recorded investment	1,893,212	1,876,465
Allowance for loan losses, collectively evaluated	(1,716)	(1,761)
Allowance for loan losses, individually evaluated	(3,820)	(4,369)
Total ending balance of the allowance	(5,536)	(6,130)
Total held-for-investment mortgage loans, net	1,887,676	1,870,335
Multifamily
Financing Receivable, Allowance for Credit Losses [Line Items]
Recorded investment, collectively evaluated	14,521	14,945
Recorded investment, individually evaluated	83	85
Total recorded investment	14,604	15,030
Allowance for loan losses, collectively evaluated	(10)	(9)
Allowance for loan losses, individually evaluated	0	0
Total ending balance of the allowance	(10)	(9)
Total held-for-investment mortgage loans, net	$ 14,594	$ 15,021

Mortgage Loans and Loan Loss_12

Mortgage Loans and Loan Loss Reserves - Individually Impaired Loans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
With specific allowance recorded [Abstract]
Impaired Financing Receivable, Related Allowance	$ (3,820)		$ (4,369)
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	45,333		48,276
Impaired Financing Receivable, Recorded Investment	43,688		46,506
Average Recorded Investment	44,490	$ 60,867
Interest Income Recognized	648	805
Interest Income Recognized On Cash Basis	71	105
Single-family 20 and 30-year or more, amortizing fixed-rate
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	3,336		3,335
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,645		2,666
Average Recorded Investment	2,686	3,311
Interest Income Recognized	73	94
Interest Income Recognized On Cash Basis	4	7
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	35,264		37,579
Impaired Financing Receivable, with Related Allowance, Recorded Investment	34,720		36,959
Impaired Financing Receivable, Related Allowance	(3,201)		(3,660)
Average Recorded Investment	35,338	47,868
Interest Income Recognized	484	592
Interest Income Recognized On Cash Basis	57	83
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	38,600		40,914
Impaired Financing Receivable, Recorded Investment	37,365		39,625
Average Recorded Investment	38,024	51,179
Interest Income Recognized	557	686
Interest Income Recognized On Cash Basis	61	90
Single-family 15-year amortizing fixed-rate
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	21		23
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	21		22
Average Recorded Investment	21	20
Interest Income Recognized	0	1
Interest Income Recognized On Cash Basis	0	0
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	700		703
Impaired Financing Receivable, with Related Allowance, Recorded Investment	711		713
Impaired Financing Receivable, Related Allowance	(18)		(19)
Average Recorded Investment	686	869
Interest Income Recognized	6	8
Interest Income Recognized On Cash Basis	1	3
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	721		726
Impaired Financing Receivable, Recorded Investment	732		735
Average Recorded Investment	707	889
Interest Income Recognized	6	9
Interest Income Recognized On Cash Basis	1	3
Single-family Adjustable-rate
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	222		227
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	220		226
Average Recorded Investment	224	263
Interest Income Recognized	3	3
Interest Income Recognized On Cash Basis	0	0
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	154		164
Impaired Financing Receivable, with Related Allowance, Recorded Investment	153		162
Impaired Financing Receivable, Related Allowance	(8)		(8)
Average Recorded Investment	147	226
Interest Income Recognized	1	2
Interest Income Recognized On Cash Basis	1	1
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	376		391
Impaired Financing Receivable, Recorded Investment	373		388
Average Recorded Investment	371	489
Interest Income Recognized	4	5
Interest Income Recognized On Cash Basis	1	1
Single-family Alt-A, interest-only, and option ARM
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	1,128		1,286
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	954		1,083
Average Recorded Investment	981	1,356
Interest Income Recognized	18	23
Interest Income Recognized On Cash Basis	1	1
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	4,419		4,867
Impaired Financing Receivable, with Related Allowance, Recorded Investment	4,181		4,590
Impaired Financing Receivable, Related Allowance	(593)		(682)
Average Recorded Investment	4,325	6,834
Interest Income Recognized	62	80
Interest Income Recognized On Cash Basis	7	9
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	5,547		6,153
Impaired Financing Receivable, Recorded Investment	5,135		5,673
Average Recorded Investment	5,306	8,190
Interest Income Recognized	80	103
Interest Income Recognized On Cash Basis	8	10
Single-family
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	4,707		4,871
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	3,840		3,997
Average Recorded Investment	3,912	4,950
Interest Income Recognized	94	121
Interest Income Recognized On Cash Basis	5	8
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	40,537		43,313
Impaired Financing Receivable, with Related Allowance, Recorded Investment	39,765		42,424
Impaired Financing Receivable, Related Allowance	(3,820)		(4,369)
Average Recorded Investment	40,496	55,797
Interest Income Recognized	553	682
Interest Income Recognized On Cash Basis	66	96
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	45,244		48,184
Impaired Financing Receivable, Recorded Investment	43,605		46,421
Average Recorded Investment	44,408	60,747
Interest Income Recognized	647	803
Interest Income Recognized On Cash Basis	71	104
Multifamily
With no specific allowance recorded [Abstract]
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance	70		89
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	66		82
Average Recorded Investment	66	84
Interest Income Recognized	1	2
Interest Income Recognized On Cash Basis	0	1
With specific allowance recorded [Abstract]
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance	19		3
Impaired Financing Receivable, with Related Allowance, Recorded Investment	17		3
Impaired Financing Receivable, Related Allowance	0		0
Average Recorded Investment	16	36
Interest Income Recognized	0	0
Interest Income Recognized On Cash Basis	0	0
Individually Impaired Mortgage Loans [Abstract]
Impaired Financing Receivable, Unpaid Principal Balance	89		92
Impaired Financing Receivable, Recorded Investment	83		$ 85
Average Recorded Investment	82	120
Interest Income Recognized	1	2
Interest Income Recognized On Cash Basis	$ 0	$ 1

Mortgage Loans and Loan Loss_13

Mortgage Loans and Loan Loss Reserves - TDR Activity (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)numberofloans	Mar. 31, 2018USD ($)numberofloans
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	7,459	19,699
Post TDR Recorded Investments	$ 1,200	$ 3,305
Single-family 15-year amortizing fixed-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	946	2,816
Post TDR Recorded Investments	$ 92	$ 292
Single-family Adjustable-rate
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	157	319
Post TDR Recorded Investments	$ 25	$ 57
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	329	1,239
Post TDR Recorded Investments	$ 53	$ 203
Single-family
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	8,891	24,073
Post TDR Recorded Investments	$ 1,370	$ 3,857
Pre-TDR Recorded Investments	$ 1,400	$ 3,900
Multifamily
Financing Receivable, Modifications [Line Items]
Number of Loans | numberofloans	0	0
Post TDR Recorded Investments	$ 0	$ 0

Mortgage Loans and Loan Loss_14

Mortgage Loans and Loan Loss Reserves - Payment Defaults of Completed TDR Modifications (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)numberofloans	Mar. 31, 2018USD ($)numberofloans
Single-family 20 and 30-year or more, amortizing fixed-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	3,856	2,956
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 409	$ 443
Single-family 15-year amortizing fixed-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	125	170
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 7	$ 15
Single-family Adjustable-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	34	44
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 3	$ 7
Single-family Alt-A, interest-only, and option ARM
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	310	275
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 44	$ 54
Single-family
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	4,325	3,445
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 463	$ 519
Multifamily
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans, Modifications, Subsequent Default | numberofloans	0	0
Post-TDR Recorded Investment, Modifications, Subsequent Default | $	$ 0	$ 0

Guarantee Activities - Financia

Guarantee Activities - Financial Guarantees (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Guarantor Obligations [Line Items]
Recognized Liability	$ 3,667	$ 3,561
Reserve for guarantee losses	5,597		$ 8,903
Payment Guarantee
Guarantor Obligations [Line Items]
Maximum Exposure	22,568	16,251
Recognized Liability	$ 295	$ 242
Maximum Remaining Term	30 years	30 years
Single-family
Guarantor Obligations [Line Items]
Maximum Exposure	$ 25,738	$ 23,922
Recognized Liability	412	387
Reserve for guarantee losses	5,582	6,176	8,877	$ 8,979
Single-family | Securitization activity guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	19,347	17,783
Recognized Liability	$ 242	$ 220
Maximum Remaining Term	40 years	40 years
Single-family | Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 6,391	$ 6,139
Recognized Liability	$ 170	$ 167
Maximum Remaining Term	30 years	30 years
Multifamily
Guarantor Obligations [Line Items]
Maximum Exposure	$ 237,136	$ 231,024
Recognized Liability	3,255	3,174
Reserve for guarantee losses	15		26
Multifamily | Securitization activity guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	226,875	221,245
Recognized Liability	$ 2,808	$ 2,746
Maximum Remaining Term	39 years	40 years
Multifamily | Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 10,261	$ 9,779
Recognized Liability	$ 447	$ 428
Maximum Remaining Term	35 years	35 years
Reserve for guarantee losses
Guarantor Obligations [Line Items]
Reserve for guarantee losses	$ 51	$ 52	55
Reserve for guarantee losses | Single-family
Guarantor Obligations [Line Items]
Reserve for guarantee losses	46	$ 46	48	$ 48
Reserve for guarantee losses | Multifamily
Guarantor Obligations [Line Items]
Reserve for guarantee losses	$ 5		$ 7

Credit Enhancements - Mortgage

Credit Enhancements - Mortgage Loan Credit Enhancement (Details) - Single-family - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
ACIS transactions
Credit Enhancement [Line Items]
Collateral posted by counterparties on ACIS transactions	$ 1,800	$ 1,500
Mortgage Loan Credit Enhancements
Credit Enhancement [Line Items]
Maximum coverage	121,074	116,534
Mortgage Loan Credit Enhancements | Primary mortgage insurance
Credit Enhancement [Line Items]
Total current and protected UPB	385,483	378,594
Maximum coverage	98,846	96,996
Mortgage Loan Credit Enhancements | ACIS transactions
Credit Enhancement [Line Items]
Total current and protected UPB	853,942	807,885
Maximum coverage	9,803	9,123
Mortgage Loan Credit Enhancements | STACR Trust transactions
Credit Enhancement [Line Items]
Total current and protected UPB	222,837	161,152
Maximum coverage	6,966	5,026
Mortgage Loan Credit Enhancements | Single family other transactions
Credit Enhancement [Line Items]
Total current and protected UPB	17,216	18,136
Maximum coverage	$ 5,459	$ 5,389

Credit Enhancements - Guarantee

Credit Enhancements - Guaranteed Credit Enhancements (Details) - Guarantee Credit Enhancements - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Credit Enhancement [Line Items]
Maximum coverage	$ 41,510	$ 40,635
Single-family
Credit Enhancement [Line Items]
Maximum coverage	4,321	4,159
Single-family | Non-consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	17,724	16,271
Maximum coverage	3,120	2,933
Single-family | Other
Credit Enhancement [Line Items]
Total current and protected UPB	1,201	1,226
Maximum coverage	1,201	1,226
Multifamily
Credit Enhancement [Line Items]
Maximum coverage	37,189	36,476
Multifamily | Non-consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	226,446	220,733
Maximum coverage	36,396	35,661
Multifamily | Other
Credit Enhancement [Line Items]
Total current and protected UPB	2,267	2,349
Maximum coverage	$ 793	$ 815

Credit Enhancements - Debt with

Credit Enhancements - Debt with Embedded Credit Enhancements (Details) - Debt with Embedded Credit Enhancements - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Credit Enhancement [Line Items]
Maximum coverage	$ 18,895	$ 19,045
Single-family
Credit Enhancement [Line Items]
Maximum coverage	18,482	18,632
Single-family | STACR debt notes
Credit Enhancement [Line Items]
Total current and protected UPB	600,857	605,263
Maximum coverage	17,464	17,596
Single-family | Consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	24,525	25,006
Maximum coverage	1,018	1,036
Multifamily
Credit Enhancement [Line Items]
Maximum coverage	413	413
Multifamily | Consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	2,700	2,700
Maximum coverage	280	280
Multifamily | SCR debt notes
Credit Enhancement [Line Items]
Total current and protected UPB	2,655	2,667
Maximum coverage	$ 133	$ 133

Investments in Securities (Deta

Investments in Securities (Details)	3 Months Ended
	Mar. 31, 2019USD ($)numberofsecurities	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Held-to-maturity	$ 0		$ 0
Net unrealized gains (losses) on trading securities held at balance sheets date	97,000,000	$ (212,000,000)
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	26,900,000,000
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value	$ 4,500,000,000
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | numberofsecurities	275
Purchase of trading securities on account	$ 1,400,000,000
Sale of trading securities on account	$ 1,600,000,000

Investments in Securities - Inv

Investments in Securities - Investments in Securities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Trading securities	$ 33,552	$ 35,548
Available-for-sale, at fair value	31,944	33,563
Total fair value of investments in securities	$ 65,496	$ 69,111

Investments in Securities - Tra

Investments in Securities - Trading Securities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Trading Securities [Line Items]
Trading, at fair value	$ 33,552	$ 35,548
Mortage-related securities
Trading Securities [Line Items]
Trading, at fair value	16,099	16,373
Freddie Mac
Trading Securities [Line Items]
Trading, at fair value	13,310	13,821
Other agency
Trading Securities [Line Items]
Trading, at fair value	2,788	2,551
Non-agency
Trading Securities [Line Items]
Trading, at fair value	1	1
Non-mortgage-related securities
Trading Securities [Line Items]
Trading, at fair value	$ 17,453	$ 19,175

Investments in Securities - Ava

Investments in Securities - Available-For-Sale Securities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 31,528	$ 33,460
Gross Unrealized Gains	734	640
Available-for-sale, at fair value	31,944	33,563
Freddie Mac
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	28,841	30,407
Gross Unrealized Gains	378	320
Available-for-sale, at fair value	28,910	30,199
Other agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,367	1,675
Gross Unrealized Gains	23	38
Available-for-sale, at fair value	1,382	1,706
Non-agency and other
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,320	1,378
Gross Unrealized Gains	333	282
Available-for-sale, at fair value	1,652	1,658
Other-than-temporary impairment
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	0
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 and other
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	0	0
Temporary impairment
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(318)	(537)
Temporary impairment | Freddie Mac
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(309)	(528)
Temporary impairment | Other agency
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	(8)	(7)
Temporary impairment | Non-agency and other
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses	$ (1)	$ (2)

Investments in Securities - A_2

Investments in Securities - Available-For-Sale Securities in a Gross Unrealized Loss Position (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	$ 2,963	$ 4,653
Less than 12 Months Gross Unrealized Losses	(8)	(40)
12 Months or Greater Fair Value	13,228	15,395
12 Months or Greater Gross Unrealized Losses	(310)	(497)
Freddie Mac
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	2,627	4,259
Less than 12 Months Gross Unrealized Losses	(7)	(38)
12 Months or Greater Fair Value	12,646	14,751
12 Months or Greater Gross Unrealized Losses	(302)	(490)
Other agency
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	323	351
Less than 12 Months Gross Unrealized Losses	(1)	(1)
12 Months or Greater Fair Value	579	638
12 Months or Greater Gross Unrealized Losses	(7)	(6)
Non-agency and other
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	13	43
Less than 12 Months Gross Unrealized Losses	0	(1)
12 Months or Greater Fair Value	3	6
12 Months or Greater Gross Unrealized Losses	$ (1)	$ (1)

Investments in Securities - Gro

Investments in Securities - Gross Realized Gains and Gross Realized Losses on Sales of Available-For-Sale Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Debt Securities, Available-for-sale, Realized Gain	$ 63	$ 446
Gross realized losses	(29)	(51)
Debt Securities, Available-for-sale, Realized Loss, Excluding Other-than-temporary Impairment	$ 34	$ 395

Debt Securities and Subordina_3

Debt Securities and Subordinated Borrowings (Details) $ in Billions	Mar. 31, 2019USD ($)
Debt Instrument [Line Items]
Debt cap under Purchase Agreement for the current year	$ 300
Aggregate indebtedness	$ 272.8

Debt Securities and Subordina_4

Debt Securities and Subordinated Borrowings - Total Debt, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Debt Net [Abstract]
Total Debt, Net	$ 2,073,614		$ 2,044,950
Interest Expense [Abstract]
Interest Expense, Total	15,833	$ 13,957
Held by consolidated trusts
Debt Net [Abstract]
Total Debt, Net	1,803,707		1,792,677
Interest Expense [Abstract]
Interest Expense, Total	13,981	12,514
Held by Freddie Mac
Debt Net [Abstract]
Short-term Debt Balance Net	77,130		51,080
Long-term Debt Balance, Net	192,777		201,193
Total Debt, Net	269,907		$ 252,273
Interest Expense [Abstract]
Interest Expense, Short-term Borrowings	436	229
Interest Expense, Long-term Debt	1,416	1,214
Interest Expense, Total	$ 1,852	$ 1,443

Debt Securities and Subordina_5

Debt Securities and Subordinated Borrowings - Debt Securities of Consolidated Trusts Held by Third Parties (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt, Net	$ 2,073,614	$ 2,044,950
Debt instrument recorded at fair value	5,067	5,112
Held by consolidated trusts
Debt Instrument [Line Items]
UPB	1,760,027	1,748,738
Debt, Net	$ 1,803,707	$ 1,792,677
Effective rate for debt securities of consolidated trusts held by third parties	3.10%	3.07%
Debt instrument recorded at fair value	$ 737	$ 755
Held by consolidated trusts | Single-family
Debt Instrument [Line Items]
UPB	1,755,512	1,744,373
Debt, Net	1,799,178	1,788,276
Held by consolidated trusts | Multifamily
Debt Instrument [Line Items]
UPB	4,515	4,365
Debt, Net	$ 4,529	$ 4,401
Weighted Average Coupon	3.70%	4.02%
Held by consolidated trusts | Single-family 30-year or more, fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 1,408,759	$ 1,389,113
Debt, Net	$ 1,445,766	$ 1,426,060
Weighted Average Coupon	3.73%	3.72%
Held by consolidated trusts | Single-family 20-year fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 69,854	$ 70,547
Debt, Net	$ 71,618	$ 72,354
Weighted Average Coupon	3.43%	3.43%
Held by consolidated trusts | Single-family 15-year fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 234,062	$ 240,310
Debt, Net	$ 238,129	$ 244,587
Weighted Average Coupon	2.89%	2.89%
Held by consolidated trusts | Single-family Adjustable-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 37,201	$ 38,361
Debt, Net	$ 37,951	$ 39,153
Weighted Average Coupon	3.20%	3.12%
Held by consolidated trusts | Single-family Interest-only | Single-family
Debt Instrument [Line Items]
UPB	$ 4,940	$ 5,322
Debt, Net	$ 5,001	$ 5,386
Weighted Average Coupon	4.64%	4.41%
Held by consolidated trusts | FHA/VA | Single-family
Debt Instrument [Line Items]
UPB	$ 696	$ 720
Debt, Net	$ 713	$ 736
Weighted Average Coupon	4.76%	4.78%

Debt Securities and Subordina_6

Debt Securities and Subordinated Borrowings - Other Debt (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Long-term Debt [Abstract]
Debt, net	$ 2,073,614	$ 2,044,950
Debt instrument recorded at fair value	5,067	5,112
Held by Freddie Mac
Short-term Debt [Abstract]
Other short-term debt par value	77,325	51,246
Other short-term debt carrying amount	$ 77,130	$ 51,080
Other short-term debt weighted average effective rate	2.43%	2.28%
Long-term Debt [Abstract]
Other long-term debt par value	$ 194,767	$ 203,724
Other long-term debt carrying amount	$ 192,777	$ 201,193
Other long-term debt weighted average effective rate	2.63%	2.58%
Total par value	$ 272,092	$ 254,970
Debt, net	269,907	252,273
Debt instrument recorded at fair value	4,300	4,400
Balance Net Of Callable Other Long Term Debt	101,400	107,200
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2018
Long-term Debt [Abstract]
Other long-term debt par value	49,106	58,002
Other long-term debt carrying amount	$ 49,078	$ 57,968
Other long-term debt weighted average effective rate	1.43%	1.54%
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2019
Long-term Debt [Abstract]
Other long-term debt par value	$ 40,721	$ 42,296
Other long-term debt carrying amount	$ 40,705	$ 42,275
Other long-term debt weighted average effective rate	1.82%	1.78%
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2020
Long-term Debt [Abstract]
Other long-term debt par value	$ 29,817	$ 30,898
Other long-term debt carrying amount	$ 29,820	$ 30,901
Other long-term debt weighted average effective rate	2.06%	2.06%
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2021
Long-term Debt [Abstract]
Other long-term debt par value	$ 23,253	$ 20,802
Other long-term debt carrying amount	$ 23,228	$ 20,775
Other long-term debt weighted average effective rate	2.50%	2.46%
Held by Freddie Mac | Other long-term debt | Other long-term debt - 2022
Long-term Debt [Abstract]
Other long-term debt par value	$ 10,812	$ 15,929
Other long-term debt carrying amount	$ 10,792	$ 15,906
Other long-term debt weighted average effective rate	3.00%	3.09%
Held by Freddie Mac | Other long-term debt | Other long-term debt - Thereafter
Long-term Debt [Abstract]
Other long-term debt par value	$ 23,461	$ 18,068
Other long-term debt carrying amount	$ 21,004	$ 15,579
Other long-term debt weighted average effective rate	4.71%	5.91%
Held by Freddie Mac | STACR and SCR debt
Long-term Debt [Abstract]
Other long-term debt par value	$ 17,597	$ 17,729
Other long-term debt carrying amount	$ 17,876	$ 18,004
Other long-term debt weighted average effective rate	6.19%	6.04%
Held by Freddie Mac | Hedging-Related Basis Adjustments
Long-term Debt [Abstract]
Other long-term debt carrying amount	$ 274	$ (215)
Held by Freddie Mac | Discount notes and Reference Bills
Short-term Debt [Abstract]
Other short-term debt par value	45,854	28,787
Other short-term debt carrying amount	$ 45,660	$ 28,621
Other short-term debt weighted average effective rate	2.46%	2.36%
Held by Freddie Mac | Medium-term notes
Short-term Debt [Abstract]
Other short-term debt par value	$ 16,509	$ 16,440
Other short-term debt carrying amount	$ 16,508	$ 16,440
Other short-term debt weighted average effective rate	2.29%	2.10%
Held by Freddie Mac | Securities Sold under Agreements to Repurchase
Short-term Debt [Abstract]
Other short-term debt par value	$ 14,962	$ 6,019
Other short-term debt carrying amount	$ 14,962	$ 6,019
Other short-term debt weighted average effective rate	2.50%	2.40%

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 23	$ 38

Derivatives - Derivative Assets

Derivatives - Derivative Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional or contractual amount	$ 919,003	$ 876,042
Derivative interest receivable and other	1,117	889
Netting adjustments to derivative assets	(6,245)	(6,972)
Derivative Assets, net	1,146	335
Derivative interest payable and other	(979)	(1,096)
Netting adjustments to derivative liabilities	5,287	4,941
Derivative liabilities, net	(432)	(583)
Commitments
Derivative [Line Items]
Derivative assets at fair value	188	90
Other
Derivative [Line Items]
Derivative Assets, net	198	91
Derivative liabilities, net	(377)	(317)
Not Designated as Hedging Instrument, Economic Hedge
Derivative [Line Items]
Notional or contractual amount	733,045	681,491
Derivative assets at fair value	6,108	6,148
Derivative liabilities at fair value	(3,770)	(2,922)
Not Designated as Hedging Instrument, Economic Hedge | CDX swaption
Derivative [Line Items]
Notional or contractual amount	30,200	45,900
Derivative assets at fair value	9	113
Not Designated as Hedging Instrument, Economic Hedge | Interest Rate Swaps
Derivative [Line Items]
Notional or contractual amount	360,635	321,689
Derivative assets at fair value	1,763	1,857
Derivative liabilities at fair value	(3,198)	(2,468)
Not Designated as Hedging Instrument, Economic Hedge | Receive-fixed
Derivative [Line Items]
Notional or contractual amount	162,499	145,386
Derivative assets at fair value	1,637	1,380
Derivative liabilities at fair value	(103)	(181)
Not Designated as Hedging Instrument, Economic Hedge | Pay-fixed
Derivative [Line Items]
Notional or contractual amount	192,212	170,899
Derivative assets at fair value	126	476
Derivative liabilities at fair value	(3,095)	(2,287)
Not Designated as Hedging Instrument, Economic Hedge | Basis (floating to floating)
Derivative [Line Items]
Notional or contractual amount	5,924	5,404
Derivative assets at fair value	0	1
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Option-based
Derivative [Line Items]
Notional or contractual amount	151,889	148,331
Derivative assets at fair value	4,147	4,200
Derivative liabilities at fair value	(195)	(137)
Not Designated as Hedging Instrument, Economic Hedge | Call swaptions | Purchased
Derivative [Line Items]
Notional or contractual amount	54,250	43,625
Derivative assets at fair value	2,458	2,007
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Call swaptions | Written
Derivative [Line Items]
Notional or contractual amount	6,900	4,400
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(186)	(133)
Not Designated as Hedging Instrument, Economic Hedge | Put swaptions | Purchased
Derivative [Line Items]
Notional or contractual amount	76,545	88,075
Derivative assets at fair value	1,036	1,565
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Put swaptions | Written
Derivative [Line Items]
Notional or contractual amount	3,750	1,750
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(9)	(4)
Not Designated as Hedging Instrument, Economic Hedge | Other option-based derivatives
Derivative [Line Items]
Notional or contractual amount	10,444	10,481
Derivative assets at fair value	653	628
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Futures
Derivative [Line Items]
Notional or contractual amount	126,627	161,185
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	76,516	36,044
Derivative assets at fair value	188	90
Derivative liabilities at fair value	(245)	(179)
Not Designated as Hedging Instrument, Economic Hedge | Credit derivatives
Derivative [Line Items]
Notional or contractual amount	1,966	2,030
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(34)	(35)
Not Designated as Hedging Instrument, Economic Hedge | Other
Derivative [Line Items]
Notional or contractual amount	15,412	12,212
Derivative assets at fair value	10	1
Derivative liabilities at fair value	(98)	(103)
Designated as Hedging Instrument [Member] | Fair Value Hedging
Derivative [Line Items]
Notional or contractual amount	185,958	194,551
Derivative assets at fair value	166	270
Derivative liabilities at fair value	(970)	(1,506)
Designated as Hedging Instrument [Member] | Fair Value Hedging | Receive-fixed
Derivative [Line Items]
Notional or contractual amount	111,898	117,038
Derivative assets at fair value	45	23
Derivative liabilities at fair value	(520)	(935)
Designated as Hedging Instrument [Member] | Fair Value Hedging | Pay-fixed
Derivative [Line Items]
Notional or contractual amount	74,060	77,513
Derivative assets at fair value	121	247
Derivative liabilities at fair value	$ (450)	$ (571)

Derivatives - Derivative Gains

Derivatives - Derivative Gains and Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	$ (1,606)	$ 1,830
Accrual of periodic settlements
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(54)	(145)
Accrual of periodic settlements | Receive-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(51)	222
Accrual of periodic settlements | Pay-fixed
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(36)	(368)
Accrual of periodic settlements | Other
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	33	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)	(1,047)	1,514
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)	1,837	(3,097)
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)	(2,888)	4,641
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)	4	(30)
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)	(187)	(455)
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)	454	(694)
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)	(56)	27
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)	(626)	327
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)	16	(27)
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)	25	(88)
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)	(318)	916
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)	(242)	387
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)	(96)	518
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)	(4)	14
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)	$ 24	$ (3)

Derivatives Derivatives - Gains

Derivatives Derivatives - Gains and Losses on Fair Value Hedge (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Interest Income - Mortgage Loans	$ 17,946	$ 15,951
Interest Expense	(15,833)	(13,957)
Interest rate risk on held-for-investment mortgage loans | Interest income
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	(1,243)	1,687
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	1,542	(1,973)
Interest accrual on fair value hedging derivatives for held-for-investment loans	38	(167)
Discontinued hedge related basis adjustment amortization	28	16
Interest rate risk on debt | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	546	(591)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(505)	678
Interest accrual on fair value hedging derivatives for debt	(125)	(14)
Discontinued hedge related basis adjustment amortization	$ 9	$ 0

Derivatives Derivatives - Cumul

Derivatives Derivatives - Cumulative Basis Adjustment due to Fair Value Hedges (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying amount mortgage loans held-for-investment hedged asset	$ 211,939	$ 193,547
Carrying amount debt hedged liability	(122,078)	(127,215)
Total basis adjustment cumulative amount for hedged asset	333	(1,237)
Total basis adjustment cumulative amount for hedged liability	(274)	216
Basis adjustment amount for hedged asset - discontinued hedge	333	(1,237)
Basis adjustment amount for hedged liability - discontinued hedge	$ (118)	$ (8)

Collateral and Offsetting of _3

Collateral and Offsetting of Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Offsetting Assets [Line Items]
Maximum loss after applying netting agreements and collateral	$ 563	$ 162
Commitments
Offsetting Assets [Line Items]
Total exposure on our commitments	188	90
OTC derivatives
Offsetting Assets [Line Items]
Maximum loss after applying netting agreements and collateral	55	48
Cash pledged to us as collateral that was invested as part of our liquidity and contingency operating portfolio	2,300
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell [Member]
Offsetting Assets [Line Items]
Securities Held as Collateral, at Fair Value	34,800	20,100
Securities purchased under agreements to resell not executed with clearinghouse [Member]
Offsetting Assets [Line Items]
Securities Held as Collateral, at Fair Value	$ 1,900	$ 2,500

Collateral and Offsetting of _4

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Assets (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative Assets:
Gross Amount Recognized	$ 7,391	$ 7,307
Counterparty netting	(4,626)	(4,544)
Cash Collateral netting	(1,619)	(2,428)
Derivative Assets, net	1,146	335
Gross Amount Not Offset in the Consolidated Balance Sheets	(583)	(173)
Net Amount	563	162
Securities purchased under agreements to resell:
Gross Amount Recognized	50,134	34,771
Counterparty netting	0	0
Net Amount Presented in the Consolidated Balance Sheets	50,134	34,771
Gross Amount Not Offset in the Consolidated Balance Sheets	(50,134)	(34,771)
Net Amount	0	0
Total:
Gross Amount Recognized	57,525	42,078
Counterparty netting	(4,626)	(4,544)
Cash collateral netting	(1,619)	(2,428)
Net Amount Presented in the Consolidated Balance Sheets	51,280	35,106
Gross Amount Not Offset in the Consolidated Balance Sheets	(50,717)	(34,944)
Net Amount	563	162
Other
Derivative Assets:
Gross Amount Recognized	198	91
Counterparty netting	0	0
Cash Collateral netting	0	0
Derivative Assets, net	198	91
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	198	91
OTC derivatives
Derivative Assets:
Gross Amount Recognized	6,980	7,213
Counterparty netting	(4,625)	(4,544)
Cash Collateral netting	(1,717)	(2,448)
Derivative Assets, net	638	221
Gross Amount Not Offset in the Consolidated Balance Sheets	(583)	(173)
Net Amount	55	48
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell [Member]
Securities purchased under agreements to resell:
Cash Collateral Netting	0	0
Cleared and exchange-traded derivatives
Derivative Assets:
Gross Amount Recognized	213	3
Counterparty netting	(1)	0
Cash Collateral netting	98	20
Derivative Assets, net	310	23
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	$ 310	$ 23

Collateral and Offsetting of _5

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivative Liabilities:
Gross Amount Recognized	$ (5,719)	$ (5,524)
Counterparty netting	4,626	4,544
Cash collateral netting	661	397
Derivative liabilities, net	(432)	(583)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(432)	(583)
Securities Sold under Agreements to Repurchase [Abstract]
Gross Amount Recognized	(14,962)	(6,019)
Counterparty netting	0	0
Net Amount Presented in the Consolidated Balance Sheets	(14,962)	(6,019)
Gross Amount Not Offset in the Consolidated Balance Sheets	14,962	6,019
Net Amount	0	0
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract]
Gross Amount Recognized	(20,681)	(11,543)
Counterparty netting	4,626	4,544
Cash collateral netting	661	397
Net Amount Presented in the Consolidated Balance Sheets	(15,394)	(6,602)
Gross Amount Not Offset in the Consolidated Balance Sheets	14,962	6,019
Net Amount	(432)	(583)
Other
Derivative Liabilities:
Gross Amount Recognized	(377)	(317)
Counterparty netting	0	0
Cash collateral netting	0	0
Derivative liabilities, net	(377)	(317)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(377)	(317)
OTC derivatives
Derivative Liabilities:
Gross Amount Recognized	(5,331)	(4,963)
Counterparty netting	4,625	4,544
Cash collateral netting	654	296
Derivative liabilities, net	(52)	(123)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(52)	(123)
Cleared and exchange-traded derivatives
Derivative Liabilities:
Gross Amount Recognized	(11)	(244)
Counterparty netting	1	0
Cash collateral netting	7	101
Derivative liabilities, net	(3)	(143)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(3)	(143)
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract]
Aggregate fair value of securities posted	2,400	2,500
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	Mar. 31, 2019	Dec. 31, 2018
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	$ 17,691	$ 8,802
Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	2,430	2,522
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	15,052	6,027
Other
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	209	253
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	686	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	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	686	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	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	483	541
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	300	362
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	183	179
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	2,937	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	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	2,934	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	3	1
Trading securities
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	13,585	5,665
Trading securities | Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	2,130	2,160
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	11,432	3,432
Trading securities | Other
Collateral in the Form of Securities Pledged [Line Items]
Securities pledged with the ability for the secured party to repledge	$ 23	$ 73

Collateral and Offsetting of _7

Collateral and Offsetting of Assets and Liabilities - Underlying Collateral Pledged (Details) - Securities Sold under Agreements to Repurchase $ in Millions	Mar. 31, 2019USD ($)
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities and other	$ 15,052
Overnight and continuous
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities and other	2,940
30 days or less
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities and other	12,112
After 30 days through 90 days
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities and other	0
Greater than 90 days
Collateral in the Form of Securities Pledged [Line Items]
U.S. Treasury securities and other	$ 0

Stockholders' Equity and Earn_3

Stockholders' Equity and Earnings per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Federal statutory tax rate	21.00%	21.00%
Cash flow hedge relationships	$ (297,000,000)	$ (400,000,000)	$ (315,000,000)
Cash flow hedge gain (loss) to be reclassified over the next 12 months	$ (69,000,000)
Maximum remaining length of time hedged in cash flow hedge	15 months
Expected draw request from Treasury	$ 0
GAAP net worth (deficit)	4,665,000,000	$ 2,150,000,000	4,477,000,000	$ (312,000,000)
Applicable capital reserve amount	3,000,000,000
Dividend Requirement Amount Under Purchase Agreement	1,700,000,000
Aggregate Payment of Dividend to Treasury Under Purchase Agreement	118,000,000,000
Senior preferred stock, at redemption value	$ 75,648,000,000		$ 75,648,000,000
Stock Outstanding	0	0
Common dividends declared	$ 0
Cash dividends paid on senior preferred stock	1,477,000,000	$ 0
Common shares or non-cumulative preferred stock repurchased	0
Common shares or non-cumulative preferred stock issued	$ 0
Restricted stock units lapsed	351
Restricted stock outstanding	702
Dividends declared on preferred stock	$ 0
Dividends paid on preferred stock	$ 0

Stockholders' Equity and Earn_4

Stockholders' Equity and Earnings per Share - Changes in AOCI by Component, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 4,477	$ (312)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	258	(776)
Cumulative effect of change in accounting principle		0
Ending balance	4,665	2,150
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(135)	389
Other comprehensive income (loss) before reclassifications	271	(490)
Amounts reclassified from accumulated other comprehensive income	(13)	(286)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	258	(776)
Cumulative effect of change in accounting principle		89
Ending balance	123	(298)
AOCI related to available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	83	662
Other comprehensive income (loss) before reclassifications	273	(488)
Amounts reclassified from accumulated other comprehensive income	(27)	(312)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	246	(800)
Cumulative effect of change in accounting principle		143
Ending balance	329	5
AOCI related to cash flow hedge relationships
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(315)	(356)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income	18	30
Total other comprehensive income (loss), net of taxes and reclassification adjustments	18	30
Cumulative effect of change in accounting principle		(73)
Ending balance	(297)	(399)
AOCI related to defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	97	83
Other comprehensive income (loss) before reclassifications	(2)	(2)
Amounts reclassified from accumulated other comprehensive income	(4)	(4)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(6)	(6)
Cumulative effect of change in accounting principle		19
Ending balance	$ 91	$ 96

Stockholders' Equity and Earn_5

Stockholders' Equity and Earnings per Share - Reclassifications from AOCI to Net Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Investment securities gains (losses)	$ 174	$ (232)
Interest expense	(15,833)	(13,957)
Salaries and employee benefits	(322)	(286)
Income before income tax (expense) benefit	1,765	3,674
Income tax (expense) benefit	(358)	(748)
Net income (loss)	1,407	2,926
Held by Freddie Mac
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Interest expense	(1,852)	(1,443)
Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	13	286
AOCI related to available-for-sale securities | Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Investment securities gains (losses)	34	395
Income before income tax (expense) benefit	34	395
Income tax (expense) benefit	(7)	(83)
Net income (loss)	27	312
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	5	8
Net income (loss)	(18)	(30)
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	(23)	(38)
AOCI related to defined benefit plans | Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Salaries and employee benefits	5	5
Income tax (expense) benefit	(1)	(1)
Net income (loss)	$ 4	$ 4

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 358,000,000	$ 748,000,000
Effective Tax Rate	20.30%	20.40%
Federal statutory tax rate	21.00%	21.00%
Deferred Tax Assets, Net	$ 6,800,000,000		$ 6,900,000,000
Deferred Tax Assets, Valuation Allowance	46,000,000
Unrecognized Tax Benefits	$ 0

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended
	Mar. 31, 2019
Segment Reporting Information [Line Items]
Number of reportable segments	3

Segment Reporting - Segment Ear

Segment Reporting - Segment Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Net income (loss)	$ 1,407	$ 2,926
Comprehensive income (loss)	1,665	2,150
All Other
Segment Reporting Information [Line Items]
Net income (loss)	0	0
Comprehensive income (loss)	0	0
Single-family Guarantee | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	740	786
Comprehensive income (loss)	736	782
Multifamily | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	330	473
Comprehensive income (loss)	395	405
Capital Markets | Operating segments
Segment Reporting Information [Line Items]
Net income (loss)	337	1,667
Comprehensive income (loss)	534	963
Operating segments and All Other
Segment Reporting Information [Line Items]
Net income (loss)	1,407	2,926
Comprehensive income (loss)	$ 1,665	$ 2,150

Segment Reporting - Segment E_2

Segment Reporting - Segment Earnings and Reconciliation to GAAP Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest Income	$ 3,153	$ 3,018
Benefit (provision) for credit losses	135	(63)
Non-interest income (loss)
Guarantee fee income	217	194
Mortgage loans gains (losses)	931	(215)
Investment securities gains (losses)	174	(232)
Debt gains (losses)	15	121
Derivative gains (losses)	(1,606)	1,830
Other income (loss)	34	131
Non-interest expense
Administrative expense	(578)	(520)
REO operations (expense) income	(33)	(34)
Other non interest (expense) income	(677)	(556)
Income tax (expense) benefit	(358)	(748)
Net income (loss)	1,407	2,926
Changes in unrealized gains (losses) related to available-for-sale securities	246	(800)
Changes in unrealized gains (losses) related to cash flow hedge relationships	18	30
Changes in defined benefit plans	(6)	(6)
Total other comprehensive income (loss), net of taxes	258	(776)
Comprehensive income (loss)	1,665	2,150
All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest Income	0	0
Benefit (provision) for credit losses	0	0
Non-interest income (loss)
Guarantee fee income	0	0
Mortgage loans gains (losses)	0	0
Investment securities gains (losses)	0	0
Debt gains (losses)	0	0
Derivative gains (losses)	0	0
Other income (loss)	0	0
Non-interest expense
Administrative expense	0	0
REO operations (expense) income	0	0
Other non interest (expense) income	0	0
Income tax (expense) benefit	0	0
Net income (loss)	0	0
Changes in unrealized gains (losses) related to available-for-sale securities	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	0	0
Total other comprehensive income (loss), net of taxes	0	0
Comprehensive income (loss)	0	0
Reclassifications
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest Income	2,148	1,976
Benefit (provision) for credit losses	128	(120)
Non-interest income (loss)
Guarantee fee income	(1,632)	(1,591)
Mortgage loans gains (losses)	200	131
Investment securities gains (losses)	(4)	(111)
Debt gains (losses)	14	(28)
Derivative gains (losses)	(126)	(121)
Other income (loss)	(556)	17
Non-interest expense
Administrative expense	0	0
REO operations (expense) income	5	5
Other non interest (expense) income	(177)	(158)
Income tax (expense) benefit	0	0
Net income (loss)	0	0
Changes in unrealized gains (losses) related to available-for-sale securities	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	0	0
Total other comprehensive income (loss), net of taxes	0	0
Comprehensive income (loss)	0	0
Single-family Guarantee | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest Income	0	0
Benefit (provision) for credit losses	8	41
Non-interest income (loss)
Guarantee fee income	1,633	1,590
Mortgage loans gains (losses)	0	0
Investment securities gains (losses)	0	0
Debt gains (losses)	(21)	34
Derivative gains (losses)	(41)	(6)
Other income (loss)	249	81
Non-interest expense
Administrative expense	(374)	(336)
REO operations (expense) income	(38)	(39)
Other non interest (expense) income	(488)	(379)
Income tax (expense) benefit	(188)	(200)
Net income (loss)	740	786
Changes in unrealized gains (losses) related to available-for-sale securities	0	0
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	(4)	(4)
Total other comprehensive income (loss), net of taxes	(4)	(4)
Comprehensive income (loss)	736	782
Multifamily | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest Income	247	271
Benefit (provision) for credit losses	(1)	16
Non-interest income (loss)
Guarantee fee income	216	195
Mortgage loans gains (losses)	731	(346)
Investment securities gains (losses)	(17)	(158)
Debt gains (losses)	29	10
Derivative gains (losses)	(772)	655
Other income (loss)	104	64
Non-interest expense
Administrative expense	(112)	(100)
REO operations (expense) income	0	0
Other non interest (expense) income	(11)	(13)
Income tax (expense) benefit	(84)	(121)
Net income (loss)	330	473
Changes in unrealized gains (losses) related to available-for-sale securities	66	(67)
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0
Changes in defined benefit plans	(1)	(1)
Total other comprehensive income (loss), net of taxes	65	(68)
Comprehensive income (loss)	395	405
Capital Markets | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest Income	758	771
Benefit (provision) for credit losses	0	0
Non-interest income (loss)
Guarantee fee income	0	0
Mortgage loans gains (losses)	0	0
Investment securities gains (losses)	195	37
Debt gains (losses)	(7)	105
Derivative gains (losses)	(667)	1,302
Other income (loss)	237	(31)
Non-interest expense
Administrative expense	(92)	(84)
REO operations (expense) income	0	0
Other non interest (expense) income	(1)	(6)
Income tax (expense) benefit	(86)	(427)
Net income (loss)	337	1,667
Changes in unrealized gains (losses) related to available-for-sale securities	180	(733)
Changes in unrealized gains (losses) related to cash flow hedge relationships	18	30
Changes in defined benefit plans	(1)	(1)
Total other comprehensive income (loss), net of taxes	197	(704)
Comprehensive income (loss)	534	963
Operating segments and All Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest Income	1,005	1,042
Benefit (provision) for credit losses	7	57
Non-interest income (loss)
Guarantee fee income	1,849	1,785
Mortgage loans gains (losses)	731	(346)
Investment securities gains (losses)	178	(121)
Debt gains (losses)	1	149
Derivative gains (losses)	(1,480)	1,951
Other income (loss)	590	114
Non-interest expense
Administrative expense	(578)	(520)
REO operations (expense) income	(38)	(39)
Other non interest (expense) income	(500)	(398)
Income tax (expense) benefit	(358)	(748)
Net income (loss)	1,407	2,926
Changes in unrealized gains (losses) related to available-for-sale securities	246	(800)
Changes in unrealized gains (losses) related to cash flow hedge relationships	18	30
Changes in defined benefit plans	(6)	(6)
Total other comprehensive income (loss), net of taxes	258	(776)
Comprehensive income (loss)	$ 1,665	$ 2,150

Concentration of Credit and O_3

Concentration of Credit and Other Risks (Details) - USD ($) $ in Billions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Concentration Risk [Line Items]
Unpaid principal balance related to single-family credit guarantee portfolio	$ 1,900		$ 1,900
Securities purchased under agreements to resell used to provide financing to investors	$ 1.9		$ 2.5
Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage	100.00%		100.00%
Top five non-depository seller | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	26.00%	22.00%
Five largest non-depository servicers | Single-family UPB
Concentration Risk [Line Items]
Concentration risk percentage	18.00%		16.00%
Mortgage Insurers
Concentration Risk [Line Items]
Unpaid principal balance of single family credit guarantee portfolio With mortgage insurance coverage	$ 385.5
Credit protection coverage from mortgage insurers for single family credit guarantee portfolio	98.9
Cash proceeds received from mortgage insurers	0.1	$ 0.1
Receivables outstanding from mortgage Insurers	0.1		$ 0.1
Receivables outstanding, net of reserves, from mortgage insurers	0.1		0.1
Amount of cumulative unpaid deferred payment obligation	0.5		0.5
Cash And Other Investment Counterparties
Concentration Risk [Line Items]
Cash and other non-mortgage investments	$ 77		$ 63.1

Concentration of Credit and O_4

Concentration of Credit and Other Risks - Concentration of Credit Risk - Single-Family Credit Guarantee Portfolio (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Concentration Risk [Line Items]
Serious delinquency rate	0.67%		0.69%
West
Concentration Risk [Line Items]
Serious delinquency rate	0.38%		0.38%
Northeast
Concentration Risk [Line Items]
Serious delinquency rate	0.95%		0.96%
North Central
Concentration Risk [Line Items]
Serious delinquency rate	0.62%		0.63%
Southeast
Concentration Risk [Line Items]
Serious delinquency rate	0.83%		0.90%
Southwest
Concentration Risk [Line Items]
Serious delinquency rate	0.54%		0.57%
FLORIDA
Concentration Risk [Line Items]
Serious delinquency rate	0.91%		1.01%
NEW YORK
Concentration Risk [Line Items]
Serious delinquency rate	1.33%		1.37%
NEW JERSEY
Concentration Risk [Line Items]
Serious delinquency rate	1.21%		1.24%
CALIFORNIA
Concentration Risk [Line Items]
Serious delinquency rate	0.35%		0.35%
ILLINOIS
Concentration Risk [Line Items]
Serious delinquency rate	0.86%		0.86%
All Other
Concentration Risk [Line Items]
Serious delinquency rate	0.62%		0.64%
Core single-family loan portfolio
Concentration Risk [Line Items]
Serious delinquency rate	0.22%		0.22%
Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Serious delinquency rate	1.91%		1.93%
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%		24.00%
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%		14.00%
Single-family UPB | FLORIDA
Concentration Risk [Line Items]
Concentration risk percentage	6.00%		6.00%
Single-family UPB | NEW YORK
Concentration Risk [Line Items]
Concentration risk percentage	5.00%		5.00%
Single-family UPB | NEW JERSEY
Concentration Risk [Line Items]
Concentration risk percentage	3.00%		3.00%
Single-family UPB | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk percentage	18.00%		18.00%
Single-family UPB | ILLINOIS
Concentration Risk [Line Items]
Concentration risk percentage	4.00%		5.00%
Single-family UPB | All Other
Concentration Risk [Line Items]
Concentration risk percentage	64.00%		63.00%
Single-family UPB | Core single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	83.00%		82.00%
Single-family UPB | Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	17.00%		18.00%
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	15.00%	17.00%
Single-family Credit Losses | Northeast
Concentration Risk [Line Items]
Concentration risk percentage	37.00%	41.00%
Single-family Credit Losses | North Central
Concentration Risk [Line Items]
Concentration risk percentage	16.00%	19.00%
Single-family Credit Losses | Southeast
Concentration Risk [Line Items]
Concentration risk percentage	25.00%	18.00%
Single-family Credit Losses | Southwest
Concentration Risk [Line Items]
Concentration risk percentage	7.00%	5.00%
Single-family Credit Losses | FLORIDA
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	10.00%
Single-family Credit Losses | NEW YORK
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	9.00%
Single-family Credit Losses | NEW JERSEY
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	13.00%
Single-family Credit Losses | CALIFORNIA
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	13.00%
Single-family Credit Losses | ILLINOIS
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	9.00%
Single-family Credit Losses | All Other
Concentration Risk [Line Items]
Concentration risk percentage	40.00%	46.00%
Single-family Credit Losses | Core single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	6.00%
Single-family Credit Losses | Legacy and relief refinance single-family loan portfolio
Concentration Risk [Line Items]
Concentration risk percentage	88.00%	94.00%

Concentration of Credit and O_5

Concentration of Credit and Other Risks - Certain Higher-Risk Categories in the Single-Family Credit Guarantee Portfolio (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Serious delinquency rate	0.67%	0.69%
Interest-only
Concentration Risk [Line Items]
Serious delinquency rate	3.35%	3.43%
Alt-A
Concentration Risk [Line Items]
Serious delinquency rate	4.17%	4.13%
Original LTV ratio greater than 90%
Concentration Risk [Line Items]
Serious delinquency rate	0.99%	1.04%
Lower credit scores at origination (less than 620)
Concentration Risk [Line Items]
Serious delinquency rate	4.50%	4.59%
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%	18.00%
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 - Seller Concentration (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Top ten Single-family sellers | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	57.00%	51.00%
JPMorgan Chase Bank, National Association | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	16.00%	6.00%
United Shore Financial Services, LLC | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	10.00%
Wells Fargo Bank, N.A. | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	8.00%	15.00%
Other top 10 sellers | Single-family loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	23.00%	30.00%
Top ten multifamily sellers | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	77.00%	79.00%
CBRE Capital Markets, Inc. | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	14.00%
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%	12.00%
Holliday Fenoglio Fowler, L.P. | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	5.00%	10.00%
Other top 10 sellers | Multifamily loan purchase volume
Concentration Risk [Line Items]
Concentration risk percentage	35.00%	32.00%

Concentration of Credit and O_7

Concentration of Credit and Other Risks - Servicer Concentration (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Single-family loan serviced | Top ten Single-family servicers
Concentration Risk [Line Items]
Concentration risk percentage	57.00%	56.00%
Single-family loan serviced | Wells Fargo Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	17.00%	17.00%
Single-family loan serviced | Other top 10 sellers
Concentration Risk [Line Items]
Concentration risk percentage	40.00%	39.00%
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%	14.00%
Multifamily loan serviced | CBRE Capital Markets, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	11.00%	14.00%
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	39.00%	36.00%

Concentration of Credit and O_8

Concentration of Credit and Other Risks - Mortgage Insurer Concentration (Details) - Mortgage insurance coverage	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Arch Mortgage Insurance Company
Concentration Risk [Line Items]
Concentration risk percentage	23.00%	24.00%
Radian Guaranty Inc.
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	20.00%
Mortgage Guaranty Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	19.00%
Genworth Mortgage Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	14.00%
Essent Guaranty, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	14.00%
Total
Concentration Risk [Line Items]
Concentration risk percentage	90.00%	91.00%

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	$ 31,944	$ 33,563
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	20,576	23,106
Derivative Assets Net [Abstract]
Derivative Assets, net	1,146	335
Other Assets [Abstract]
Total Other Assets	4,182	3,929
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	5,067	5,112
Derivative Liabilities Net [Abstract]
Derivative Liabilities	432	583
Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	737	755
Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	4,300	4,400
Other
Derivative Assets Net [Abstract]
Derivative Assets, net	198	91
Derivative Liabilities Net [Abstract]
Derivative Liabilities	377	317
Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	28,910	30,199
Other agency
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	1,382	1,706
Non-agency and other
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	1,652	1,658
Fair Value, Measurements, Recurring
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	31,944	33,563
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	33,552	35,548
Total investments in securities	65,496	69,111
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	20,576	23,106
Derivative Assets Net [Abstract]
Derivative assets at fair value	6,274	6,418
Netting Adjustment	(5,128)	(6,083)
Derivative Assets, net	1,146	335
Other Assets [Abstract]
Guarantee Assets	3,795	3,633
Non-derivative held-for-sale purchase commitments, at fair value	237	159
All Other Assets Fair Value Disclosure	150	137
Total Other Assets	4,182	3,929
Total Assets at Fair value	91,400	96,481
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	4,740	4,428
Netting Adjustment	(4,308)	(3,845)
Derivative Liabilities	432	583
Non Derivative HFS Purchase Commitment Liabilities	4	17
Total liabilities carried at fair value on a recurring basis	5,504	5,712
All Other Liabilities Fair Value Disclosure	1
Fair Value, Measurements, Recurring | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	738	755
Fair Value, Measurements, Recurring | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	4,329	4,357
Fair Value, Measurements, Recurring | Interest-rate swaps
Derivative Assets Net [Abstract]
Derivative assets at fair value	1,929	2,127
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	4,168	3,974
Fair Value, Measurements, Recurring | Option-based derivatives
Derivative Assets Net [Abstract]
Derivative assets at fair value	4,147	4,200
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	195	137
Fair Value, Measurements, Recurring | Other
Derivative Assets Net [Abstract]
Derivative assets at fair value	198	91
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	377	317
Fair Value, Measurements, Recurring | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	16,099	16,373
Fair Value, Measurements, Recurring | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	28,910	30,199
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	13,310	13,821
Fair Value, Measurements, Recurring | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	1,382	1,706
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	2,788	2,551
Fair Value, Measurements, Recurring | Non-agency and other
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	1,652	1,658
Fair Value, Measurements, Recurring | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1	1
Fair Value, Measurements, Recurring | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	17,453	19,175
Fair Value, Measurements, Recurring | Level 1
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	0	0
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	14,782	15,885
Total investments in securities	14,782	15,885
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Assets, net	0	0
Other Assets [Abstract]
Guarantee Assets	0	0
Non-derivative held-for-sale purchase commitments, at fair value	0	0
All Other Assets Fair Value Disclosure	0	0
Total Other Assets	0	0
Total Assets at Fair value	14,782	15,885
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Derivative Liabilities	0	0
Non Derivative HFS Purchase Commitment Liabilities	0	0
Total liabilities carried at fair value on a recurring basis	0	0
All Other Liabilities Fair Value Disclosure	0
Fair Value, Measurements, Recurring | Level 1 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Interest-rate swaps
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Option-based derivatives
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Other
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	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, at fair value	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, at fair value	0	0
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring | Level 1 | Non-agency and other
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	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	14,782	15,885
Fair Value, Measurements, Recurring | Level 2
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	26,712	27,788
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	15,711	16,369
Total investments in securities	42,423	44,157
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	20,576	23,106
Derivative Assets Net [Abstract]
Derivative assets at fair value	6,263	6,417
Derivative Assets, net	6,263	6,417
Other Assets [Abstract]
Guarantee Assets	0	0
Non-derivative held-for-sale purchase commitments, at fair value	237	159
All Other Assets Fair Value Disclosure	0	0
Total Other Assets	237	159
Total Assets at Fair value	69,499	73,839
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	4,682	4,336
Derivative Liabilities	4,682	4,336
Non Derivative HFS Purchase Commitment Liabilities	4	17
Total liabilities carried at fair value on a recurring basis	8,808	8,603
All Other Liabilities Fair Value Disclosure	0
Fair Value, Measurements, Recurring | Level 2 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	7	27
Fair Value, Measurements, Recurring | Level 2 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	4,115	4,223
Fair Value, Measurements, Recurring | Level 2 | Interest-rate swaps
Derivative Assets Net [Abstract]
Derivative assets at fair value	1,929	2,127
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	4,168	3,974
Fair Value, Measurements, Recurring | Level 2 | Option-based derivatives
Derivative Assets Net [Abstract]
Derivative assets at fair value	4,147	4,200
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	195	137
Fair Value, Measurements, Recurring | Level 2 | Other
Derivative Assets Net [Abstract]
Derivative assets at fair value	187	90
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	319	225
Fair Value, Measurements, Recurring | Level 2 | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	13,040	13,079
Fair Value, Measurements, Recurring | Level 2 | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	25,347	26,102
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	10,259	10,535
Fair Value, Measurements, Recurring | Level 2 | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	1,346	1,668
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	2,781	2,544
Fair Value, Measurements, Recurring | Level 2 | Non-agency and other
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	19	18
Fair Value, Measurements, Recurring | Level 2 | All other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	0	0
Fair Value, Measurements, Recurring | Level 2 | Non-mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	2,671	3,290
Fair Value, Measurements, Recurring | Level 3
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	5,232	5,775
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,059	3,294
Total investments in securities	8,291	9,069
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative assets at fair value	11	1
Derivative Assets, net	11	1
Other Assets [Abstract]
Guarantee Assets	3,795	3,633
Non-derivative held-for-sale purchase commitments, at fair value	0	0
All Other Assets Fair Value Disclosure	150	137
Total Other Assets	3,945	3,770
Total Assets at Fair value	12,247	12,840
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	58	92
Derivative Liabilities	58	92
Non Derivative HFS Purchase Commitment Liabilities	0	0
Total liabilities carried at fair value on a recurring basis	1,004	954
All Other Liabilities Fair Value Disclosure	1
Fair Value, Measurements, Recurring | Level 3 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	731	728
Fair Value, Measurements, Recurring | Level 3 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	214	134
Fair Value, Measurements, Recurring | Level 3 | Interest-rate swaps
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Option-based derivatives
Derivative Assets Net [Abstract]
Derivative assets at fair value	0	0
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Fair Value, Measurements, Recurring | Level 3 | Other
Derivative Assets Net [Abstract]
Derivative assets at fair value	11	1
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	58	92
Fair Value, Measurements, Recurring | Level 3 | Mortage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,059	3,294
Fair Value, Measurements, Recurring | Level 3 | Freddie Mac
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	3,563	4,097
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,051	3,286
Fair Value, Measurements, Recurring | Level 3 | Other agency
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	36	38
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	7	7
Fair Value, Measurements, Recurring | Level 3 | Non-agency and other
Available-For-Sale, at Fair Value:
Available-for-sale, at fair value	1,633	1,640
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 - Fair V

Fair Value Disclosures - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt | Held by consolidated trusts
Liabilities:
Begining Balance	$ 728	$ 630
Included in Earnings	2	(1)
Included in Other Comprehensive Income	0	0
Total realized and unrealized (gains) losses	2	(1)
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, Net	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	730	629
Unrealized (Gains) Losses Still Held - Liabilities	2	(1)
Debt | Held by Freddie Mac
Liabilities:
Begining Balance	134	137
Included in Earnings	0	0
Included in Other Comprehensive Income	0	0
Total realized and unrealized (gains) losses	0	0
Purchases	0	0
Issues	80	0
Sales	0	0
Settlements, Net	0	(2)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	214	135
Unrealized (Gains) Losses Still Held - Liabilities	0	0
Net Derivatives
Net Derivative Liability
Beginning Balance	91	57
Included in Earnings	(38)	9
Included in Other Comprehensive Income	0	0
Total realized and unrealized (gains) losses	(38)	9
Purchases	0	0
Issues	0	(22)
Sales	0	0
Settlements, Net	(5)	(4)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	48	40
Unrealized (Gains) Losses Still Held - Net Derivative Liability	(43)	6
All Other Liabilities
Liabilities:
Begining Balance	0
Included in Earnings	(2)
Included in Other Comprehensive Income	0
Total realized and unrealized (gains) losses	(2)
Purchases	3
Issues	0
Sales	0
Settlements, Net	0
Transfers into Level 3	0
Transfers out of Level 3	0
Ending Balance	1
Unrealized (Gains) Losses Still Held - Liabilities	(2)
Available-for-sale securities
Assets:
Beginning Balance	5,775	11,088
Included in Earnings	(14)	443
Included in Other Comprehensive Income	122	(605)
Total realized and unrealized gains (losses)	108	(162)
Purchases	52	433
Issues	0	0
Sales	(486)	(1,467)
Settlements, net	(159)	(388)
Transfers into Level 3	0	0
Transfers out of Level 3	(58)	0
Ending Balance	5,232	9,504
Unrealized Gains (Losses) Still Held - Assets	3	11
Available-for-sale securities | Freddie Mac
Assets:
Beginning Balance	4,097	6,751
Included in Earnings	(18)	(6)
Included in Other Comprehensive Income	72	(152)
Total realized and unrealized gains (losses)	54	(158)
Purchases	52	433
Issues	0	0
Sales	(486)	0
Settlements, net	(96)	(257)
Transfers into Level 3	0	0
Transfers out of Level 3	(58)	0
Ending Balance	3,563	6,769
Unrealized Gains (Losses) Still Held - Assets	(1)	(6)
Available-for-sale securities | Other agency
Assets:
Beginning Balance	38	46
Included in Earnings	0	0
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	0	0
Purchases	0	0
Issues	0	0
Sales	0	0
Settlements, net	(2)	(2)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	36	44
Unrealized Gains (Losses) Still Held - Assets	0	0
Available-for-sale securities | Non-agency and other
Assets:
Beginning Balance	1,640	4,291
Included in Earnings	4	449
Included in Other Comprehensive Income	50	(453)
Total realized and unrealized gains (losses)	54	(4)
Purchases	0	0
Issues	0	0
Sales	0	(1,467)
Settlements, net	(61)	(129)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	1,633	2,691
Unrealized Gains (Losses) Still Held - Assets	4	17
Trading securities
Assets:
Beginning Balance	3,294	2,917
Included in Earnings	(59)	(124)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(59)	(124)
Purchases	143	817
Issues	0	0
Sales	(115)	(455)
Settlements, net	(24)	(21)
Transfers into Level 3	0	0
Transfers out of Level 3	(180)	(86)
Ending Balance	3,059	3,048
Unrealized Gains (Losses) Still Held - Assets	(61)	(111)
Trading securities | Freddie Mac
Assets:
Beginning Balance	3,286	2,907
Included in Earnings	(59)	(124)
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(59)	(124)
Purchases	143	817
Issues	0	0
Sales	(115)	(455)
Settlements, net	(24)	(21)
Transfers into Level 3	0	0
Transfers out of Level 3	(180)	(86)
Ending Balance	3,051	3,038
Unrealized Gains (Losses) Still Held - Assets	(61)	(111)
Trading securities | Other agency
Assets:
Beginning Balance	7	9
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	7	9
Unrealized Gains (Losses) Still Held - Assets	0	0
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	3,770	3,216
Included in Earnings	1	22
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	1	22
Purchases	52	43
Issues	291	244
Sales	(12)	(15)
Settlements, net	(157)	(137)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	3,945	3,373
Unrealized Gains (Losses) Still Held - Assets	2	19
All Other, at fair value
Assets:
Beginning Balance	137	45
Included in Earnings	(34)	6
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	(34)	6
Purchases	52	43
Issues	9	9
Sales	(12)	(15)
Settlements, net	(2)	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	150	88
Unrealized Gains (Losses) Still Held - Assets	(33)	3
Guarantee Asset
Assets:
Beginning Balance	3,633	3,171
Included in Earnings	35	16
Included in Other Comprehensive Income	0	0
Total realized and unrealized gains (losses)	35	16
Purchases	0	0
Issues	282	235
Sales	0	0
Settlements, net	(155)	(137)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Ending Balance	3,795	3,285
Unrealized Gains (Losses) Still Held - Assets	$ 35	$ 16

Fair Value Disclosures - Quanti

Fair Value Disclosures - Quantitative Information about Recurring Level 3 Fair Value Measurements (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	$ 31,944	$ 33,563
Liabilities [Abstract]
Debt instrument recorded at fair value	5,067	5,112
Held by consolidated trusts
Liabilities [Abstract]
Debt instrument recorded at fair value	737	755
Freddie Mac
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	28,910	30,199
Non-agency and other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	1,652	1,658
Fair Value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	31,944	33,563
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	33,552	35,548
Other assets:
Guarantee Assets Fair Value Disclosure	3,795	3,633
Fair Value, Measurements, Recurring | Held by consolidated trusts
Liabilities [Abstract]
Debt instrument recorded at fair value	738	755
Fair Value, Measurements, Recurring | Mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	16,099	16,373
Fair Value, Measurements, Recurring | Freddie Mac
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	28,910	30,199
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	13,310	13,821
Fair Value, Measurements, Recurring | Non-agency and other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	1,652	1,658
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	5,232	5,775
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,059	3,294
Other assets:
Guarantee Assets Fair Value Disclosure	3,795	3,633
Insignificant level3 assets	195	184
Total Level3 assets fair value disclosure	12,236	12,840
Liabilities [Abstract]
Insignificant level3 liabilities	263	226
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Discounted Cash Flows
Other assets:
Guarantee Assets Fair Value Disclosure	3,543	3,391
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Other
Other assets:
Guarantee Assets Fair Value Disclosure	251	242
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by consolidated trusts
Liabilities [Abstract]
Debt instrument recorded at fair value	731	728
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Single External Source
Liabilities [Abstract]
Debt instrument recorded at fair value	731	728
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Mortgage-related securities
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,059	3,294
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Freddie Mac
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	3,563	4,097
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	3,051	3,286
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Freddie Mac | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	793	1,259
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	2,043	1,587
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Freddie Mac | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	2,770	2,838
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure	1,008	1,178
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Freddie Mac | Other
Trading, at Fair Value:
Trading Securities, Fair Value Disclosure		521
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency and other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	1,633	1,640
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency and other | Median of external sources
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	1,416	1,403
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency and other | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Available-for-sale, at fair value	$ 217	$ 237
Fair Value, Measurements, Recurring | Debt | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	100	99.6
Fair Value, Measurements, Recurring | Debt | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Minimum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	98	97.4
Fair Value, Measurements, Recurring | Debt | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	102.2	101.1
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	103.8	102.3
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Weighted Average | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.87%	0.81%
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Minimum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	96.5	96.1
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Minimum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.30%	0.30%
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	106.5	104.1
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Freddie Mac | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	2.61%	3.25%
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency and other | Weighted Average | Median of external sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	67.4	67.3
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency and other | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	101.1	100.7
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency and other | Minimum | Median of external sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	64.9	64.3
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency and other | Minimum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	97.7	93.1
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency and other | Maximum | Median of external sources
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	70.5	71.1
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Non-agency and other | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	114.4	110.7
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	46.7	56.6
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Weighted Average | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	6.17%	0.90%
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Minimum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	0	0
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Minimum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	(219.45%)	(219.45%)
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	99.6	99.2
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Freddie Mac | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	80.39%	66.39%
Fair Value, Measurements, Recurring | Guarantee Asset | Fair Value, Inputs, Level 3 | Weighted Average | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.44%	0.49%
Fair Value, Measurements, Recurring | Guarantee Asset | Fair Value, Inputs, Level 3 | Minimum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.17%	0.17%
Fair Value, Measurements, Recurring | Guarantee Asset | Fair Value, Inputs, Level 3 | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	1.98%	1.98%

Fair Value Disclosures - Asse_2

Fair Value Disclosures - Assets Measured at Fair Value on a Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 5,505	$ 7,543
Level 1
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	0	0
Level 2
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	91	24
Level 3
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 5,414	$ 7,519

Fair Value Disclosures - Fair_2

Fair Value Disclosures - Fair Value Assets Measured on Nonrecurring Basis Valuation Techniques (Details) - Fair Value, Measurements, Nonrecurring	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	$ 5,505,000,000	$ 7,543,000,000
Level 3
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	5,414,000,000	7,519,000,000
Level 3 | Mortgage loans | Minimum | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 3,400	$ 3,000
Housing Sales Index	0.44%	0.44%
Level 3 | Mortgage loans | Minimum | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	32.3	36.2
Level 3 | Mortgage loans | Maximum | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 782,100	$ 750,500
Housing Sales Index	4.86%	4.80%
Level 3 | Mortgage loans | Maximum | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	95	94.6
Level 3 | Mortgage loans | Weighted Average | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 177,593	$ 177,725
Housing Sales Index	1.08%	1.08%
Level 3 | Mortgage loans | Weighted Average | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	83.7	82.5

Fair Value Disclosures - Fair_3

Fair Value Disclosures - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Financial Assets
Securities purchased under agreement to resell	$ 50,134	$ 34,771
Investments in Securities [Abstract]
Available-for-sale, at fair value	31,944	33,563
Mortgage Loans [Abstract]
Derivative Assets, net	1,146	335
Other Assets	4,182	3,929
Financial Liabilities
Debt, net	5,067	5,112
Derivative Liabilities, net	432	583
Other Liabilities	7,638	6,398
Held by consolidated trusts
Financial Assets
Securities purchased under agreement to resell	13,500	12,125
Financial Liabilities
Debt, net	737	755
Held by Freddie Mac
Financial Liabilities
Debt, net	4,300	4,400
GAAP Carrying Amount
Financial Assets
Cash and Cash Equivalents	6,239	7,273
Securities purchased under agreement to resell	50,134	34,771
Investments in Securities [Abstract]
Available-for-sale, at fair value	31,944	33,563
Trading, at fair value	33,552	35,548
Total investments in securities	65,496	69,111
Mortgage Loans [Abstract]
Mortgage loans	1,942,088	1,926,978
Derivative Assets, net	1,146	335
Guarantee Assets	3,795	3,633
Non Derivative HFS Purchase Commitments Assets	237	159
Advances to lenders and other secured lending	3,151	1,805
Total Assets at Fair value	2,072,286	2,044,065
Financial Liabilities
Debt, net	2,073,614	2,044,950
Derivative Liabilities, net	432	583
Guarantee obligation	3,667	3,561
Non Derivative HFS Purchase Commitment Liabilities	4	17
Total Financial Liabilities	2,077,717	2,049,111
GAAP Carrying Amount | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,858,079	1,842,850
Financial Liabilities
Debt, net	1,803,707	1,792,677
GAAP Carrying Amount | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	84,009	84,128
Financial Liabilities
Debt, net	269,907	252,273
GAAP Carrying Amount | AmortizedCost
Mortgage Loans [Abstract]
Mortgage loans	1,900,000	1,900,000
Financial Liabilities
Debt, net	2,100,000	2,000,000
GAAP Carrying Amount | LowerOfCostOrFairValue
Mortgage Loans [Abstract]
Mortgage loans	19,200	18,500
GAAP Carrying Amount | FV - NI
Mortgage Loans [Abstract]
Mortgage loans	20,600	23,100
Financial Liabilities
Debt, net	5,100	5,100
Fair Value
Financial Assets
Cash and Cash Equivalents	6,239	7,273
Securities purchased under agreement to resell	50,134	34,771
Investments in Securities [Abstract]
Available-for-sale, at fair value	31,944	33,563
Trading, at fair value	33,552	35,548
Total investments in securities	65,496	69,111
Mortgage Loans [Abstract]
Mortgage loans	1,943,620	1,901,574
Derivative Assets, net	1,146	335
Netting Adjustment	(5,128)	(6,083)
Guarantee Assets	3,803	3,642
Non Derivative HFS Purchase Commitments Assets	242	161
Advances to lenders and other secured lending	2,303	1,068
Total Assets at Fair value	2,072,983	2,017,935
Financial Liabilities
Debt, net	2,073,779	2,017,781
Derivative Liabilities, net	432	583
Netting Adjustment	(4,308)	(3,845)
Guarantee obligation	3,988	4,146
Non Derivative HFS Purchase Commitment Liabilities	25	28
Total Financial Liabilities	2,078,224	2,022,538
Fair Value | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,857,072	1,815,416
Financial Liabilities
Debt, net	1,800,505	1,762,609
Fair Value | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	86,548	86,158
Financial Liabilities
Debt, net	273,274	255,172
Fair Value | Level 1
Financial Assets
Cash and Cash Equivalents	6,179	7,273
Securities purchased under agreement to resell	0	0
Investments in Securities [Abstract]
Available-for-sale, at fair value	0	0
Trading, at fair value	14,782	15,885
Total investments in securities	14,782	15,885
Mortgage Loans [Abstract]
Mortgage loans	0	0
Derivative assets at fair value	0	0
Guarantee Assets	0	0
Non Derivative HFS Purchase Commitments Assets	0	0
Advances to lenders and other secured lending	0	0
Total Assets at Fair value	20,961	23,158
Financial Liabilities
Debt, net	0	0
Derivative liabilities at fair value	0	0
Guarantee obligation	0	0
Non Derivative HFS Purchase Commitment Liabilities	0	0
Total Financial Liabilities	0	0
Fair Value | Level 1 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	0	0
Financial Liabilities
Debt, net	0	0
Fair Value | Level 1 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	0	0
Financial Liabilities
Debt, net	0	0
Fair Value | Level 2
Financial Assets
Cash and Cash Equivalents	60	0
Securities purchased under agreement to resell	50,134	34,771
Investments in Securities [Abstract]
Available-for-sale, at fair value	26,712	27,788
Trading, at fair value	15,711	16,369
Total investments in securities	42,423	44,157
Mortgage Loans [Abstract]
Mortgage loans	1,675,273	1,639,820
Derivative assets at fair value	6,263	6,417
Guarantee Assets	0	0
Non Derivative HFS Purchase Commitments Assets	237	159
Advances to lenders and other secured lending	544	195
Total Assets at Fair value	1,774,934	1,725,519
Financial Liabilities
Debt, net	2,066,828	2,011,454
Derivative liabilities at fair value	4,682	4,336
Guarantee obligation	0	0
Non Derivative HFS Purchase Commitment Liabilities	4	17
Total Financial Liabilities	2,071,514	2,015,807
Fair Value | Level 2 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	1,640,585	1,605,874
Financial Liabilities
Debt, net	1,797,267	1,759,911
Fair Value | Level 2 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	34,688	33,946
Financial Liabilities
Debt, net	269,561	251,543
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	5,232	5,775
Trading, at fair value	3,059	3,294
Total investments in securities	8,291	9,069
Mortgage Loans [Abstract]
Mortgage loans	268,347	261,754
Derivative assets at fair value	11	1
Guarantee Assets	3,803	3,642
Non Derivative HFS Purchase Commitments Assets	5	2
Advances to lenders and other secured lending	1,759	873
Total Assets at Fair value	282,216	275,341
Financial Liabilities
Debt, net	6,951	6,327
Derivative liabilities at fair value	58	92
Guarantee obligation	3,988	4,146
Non Derivative HFS Purchase Commitment Liabilities	21	11
Total Financial Liabilities	11,018	10,576
Fair Value | Level 3 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	216,487	209,542
Financial Liabilities
Debt, net	3,238	2,698
Fair Value | Level 3 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	51,860	52,212
Financial Liabilities
Debt, net	$ 3,713	$ 3,629

Fair Value Disclosures - Differ

Fair Value Disclosures - Difference between Fair Value and UPB for Certain Financial Instruments with Fair Value Option Elected (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans Held For Sale, Fair Value	$ 20,576	$ 23,106
Loans Held For Sale, Unpaid Principal Balance, With Fair Value Option Elected	19,793	22,693
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables	783	413
NonDerivativeHFSPurchaseCommitmentnet	233	142
Held by Freddie Mac
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	4,248	4,357
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	3,889	3,998
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	359	359
Interest-Only
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	88	26
Held by consolidated trusts
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	730	728
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	730	730
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	$ 0	$ (2)

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosures - Changes in Fair Value under the FVO option (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Held by Freddie Mac
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ (2)	$ 9
Held by consolidated trusts
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	(2)	2
Loans Receivable [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	341	(458)
HFS loan purchase commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 390	$ 105

Legal Contingencies (Details)

Legal Contingencies (Details) $ in Millions	Mar. 14, 2013numberofdefendants	Sep. 20, 2013USD ($)
LIBOR Lawsuit
Loss Contingencies [Line Items]
Number of defendants | numberofdefendants	16
Arrowood lawsuit | Arrowood Indemnity Company
Loss Contingencies [Line Items]
Preferred Stock, Value, Outstanding | $		$ 42

Regulatory Capital Regulatory C

Regulatory Capital Regulatory Capital - Net Worth and Minimum Capital (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Net Worth and Minimum Capital [Abstract]
GAAP net worth (deficit)	$ 4,665	$ 4,477	$ 2,150	$ (312)
Core capital (deficit)	(68,106)	(68,036)
Minimum capital requirement	18,127	17,553
Minimum capital surplus (deficit)	$ (86,233)	$ (85,589)

Selected Financial Statement _3

Selected Financial Statement Line Items - Significant Components of Other Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other income (loss):
Income on guarantee obligation	$ 192	$ 171
All other	(158)	(40)
Other income (loss)	$ 34	$ 131

Selected Financial Statement _4

Selected Financial Statement Line Items - Significant Components of Other Assets and Other Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Other assets:
Real estate owned, net	$ 744	$ 769
Accounts and other receivables	4,462	2,447
Guarantee asset	3,795	3,633
Secured Lending and Other	3,151	1,805
All other	2,149	2,322
Total other assets	14,301	10,976
Other liabilities:
Guarantee obligation	3,667	3,561
Payables related to securities	1,442	0
All other	2,529	2,837
Total other liabilities	$ 7,638	$ 6,398