Federal Home Loan Mortgage (FMCC) 10-Q 29 Jul 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Jul. 13, 2021
Cover [Abstract]
Document Quarterly Report	true
Document Transition Report	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Entity File Number	001-34139
Entity Registrant Name	Federal Home Loan Mortgage Corporation
Entity Incorporation, State or Country Code	X1
Entity Tax Identification Number	52-0904874
Entity Address, Address Line One	8200 Jones Branch Drive
Entity Address, City or Town	McLean,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102-3110
City Area Code	(703)
Local Phone Number	903-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		650,059,553
Entity Central Index Key	0001026214
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net interest income
Interest income	$ 15,230	$ 15,716	$ 29,132	$ 33,308
Interest expense	(10,463)	(12,840)	(20,726)	(27,647)
Net interest income	4,767	2,876	8,406	5,661
Non-interest income (loss)
Guarantee income	356	469	604	846
Investment gains (losses), net	636	670	1,844	(165)
Other income (loss)	107	134	285	229
Non-interest income (loss)	1,099	1,273	2,733	910
Net revenues	5,866	4,149	11,139	6,571
Benefit (provision) for credit losses	740	(705)	936	(1,938)
Non-interest expense
Salaries and employee benefits	(346)	(327)	(690)	(668)
Professional services	(97)	(88)	(184)	(164)
Other administrative expense	(208)	(186)	(416)	(356)
Total administrative expense	(651)	(601)	(1,290)	(1,188)
Credit enhancement expense	(369)	(233)	(704)	(464)
Benefit for (decrease in) credit enhancement recoveries	(193)	221	(450)	688
REO operations expense	(7)	(14)	(15)	(99)
Temporary Payroll Tax Cut Continuation Act of 2011 expense	(570)	(442)	(1,104)	(874)
Other expense	(179)	(140)	(394)	(243)
Non-interest expense	(1,969)	(1,209)	(3,957)	(2,180)
Income (loss) before income tax (expense) benefit	4,637	2,235	8,118	2,453
Income tax (expense) benefit	(958)	(458)	(1,672)	(503)
Net income (loss)	3,679	1,777	6,446	1,950
Other comprehensive income (loss), net of taxes and reclassification adjustments
Changes in unrealized gains (losses) related to available-for-sale securities	(73)	154	(468)	592
Changes in unrealized gains (losses) related to cash flow hedge relationships	8	11	18	24
Changes in defined benefit plans	(3)	(4)	(7)	(6)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(68)	161	(457)	610
Comprehensive income (loss)	3,611	1,938	5,989	2,560
Net income (loss)	3,679	1,777	6,446	1,950
Future increase in senior preferred stock liquidation preference	(3,611)	(1,938)	(5,989)	(2,320)
Net income (loss) attributable to common stockholders	$ 68	$ (161)	$ 457	$ (370)
Net income (loss) per common share - basic (in dollars per share)	$ 0.02	$ (0.05)	$ 0.14	$ 0.11
Net income (loss) per common share - diluted (in dollars per share)	$ 0.02	$ (0.05)	$ 0.14	$ 0.11
Weighted average common shares outstanding - basic (in shares)	3,234,000	3,234,000	3,234,000	3,234,000
Weighted average common shares outstanding - diluted (in shares)	3,234,000	3,234,000	3,234,000	3,234,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents (Notes 3, 16) (includes $3,954 and $17,379 of restricted cash and cash equivalents)	$ 11,171	$ 23,889
Securities purchased under agreements to resell (Notes 3, 11, 16)	113,697	105,003
Investment securities, at fair value (Note 3, 6)	59,558	59,825
Mortgage loans held-for-sale (Notes 3, 4) (includes $6,811 and $14,199 at fair value)	17,508	33,652
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for credit losses of $4,648 and $5,732)	2,590,715	2,350,236
Accrued interest receivable (Notes 3, 4, 6, 11) (net of allowance of $168 and $140)	7,637	7,754
Derivative assets, net (Notes 10, 11)	756	1,205
Deferred tax assets, net	6,494	6,557
Other assets (Notes 3) (includes $6,080 and $5,775, at fair value)	34,606	39,294
Total assets	2,842,142	2,627,415
Liabilities
Accrued interest payable (Note 3)	6,122	6,210
Debt (Notes 3, 9) (includes $2,073 and $2,592 at fair value)	2,802,755	2,592,546
Derivative liabilities, net (Notes 10, 11)	507	954
Other liabilities (Notes 3)	10,356	11,292
Total liabilities	2,819,740	2,611,002
Commitments and contingencies (Notes 5, 10, 18)
Equity (Note 12)
Senior preferred stock (liquidation preference of $91,439 and $86,539)	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 650,059,553 shares and 650,059,292 shares outstanding	0	0
Additional paid-in capital	0	0
Retained earnings (accumulated deficit)	(60,656)	(67,102)
AOCI, net of taxes, related to:
Available-for-sale securities	342	810
Cash flow hedge relationships	(188)	(206)
Defined benefit plans	32	39
Total AOCI, net of taxes	186	643
Treasury stock, at cost, 75,804,333 shares and 75,804,594 shares	(3,885)	(3,885)
Total equity	22,402	16,413
Total liabilities and equity	2,842,142	2,627,415
Condensed Consolidated Balance Sheet Line Item (Note 3)
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for credit losses of $4,648 and $5,732)	2,590,715	2,350,236
Total assets	2,842,142	2,627,415
Debt (Notes 3, 9) (includes $2,073 and $2,592 at fair value)	2,802,755	2,592,546
Total liabilities	2,819,740	2,611,002
Held by consolidated trusts
Assets
Cash and cash equivalents (Notes 3, 16) (includes $3,954 and $17,379 of restricted cash and cash equivalents)	3,860	17,290
Securities purchased under agreements to resell (Notes 3, 11, 16)	36,266	38,487
Investment securities, at fair value (Note 3, 6)	4,159	591
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for credit losses of $4,648 and $5,732)	2,543,467	2,273,347
Accrued interest receivable (Notes 3, 4, 6, 11) (net of allowance of $168 and $140)	7,141	7,134
Other assets (Notes 3) (includes $6,080 and $5,775, at fair value)	16,194	20,480
Total assets	2,611,087	2,357,329
Liabilities
Accrued interest payable (Note 3)	5,631	5,610
Debt (Notes 3, 9) (includes $2,073 and $2,592 at fair value)	2,575,653	2,308,176
Total liabilities	2,581,284	2,313,786
Condensed Consolidated Balance Sheet Line Item (Note 3)
Mortgage loans held-for-investment (Notes 3, 4) (net of allowance for credit losses of $4,648 and $5,732)	2,543,467	2,273,347
All other assets	67,620	83,982
Total assets	2,611,087	2,357,329
Debt (Notes 3, 9) (includes $2,073 and $2,592 at fair value)	2,575,653	2,308,176
All other liabilities	5,631	5,610
Total liabilities	$ 2,581,284	$ 2,313,786

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Restricted cash and cash equivalents	$ 3,954	$ 17,379
Mortgage loans held-for-sale, fair value	6,811	14,199
Allowance for credit losses	4,648	5,732
Allowance on Accrued Interest Receivable	168	140
Other assets, fair value	6,080	5,775
Liabilities
Debt, fair value	2,073	2,592
Equity
Senior preferred stock, liquidation preference	$ 91,439	$ 86,539
Common stock, par value (in dollars per share)	$ 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	650,059,553	650,059,292
Treasury stock, shares	75,804,333	75,804,594

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Cumulative effect from adoption of CECL	Senior Preferred Stock	Preferred Stock, at Redemption Value	Common Stock, at Par Value	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Retained Earnings (Accumulated Deficit)Cumulative effect from adoption of CECL	AOCI, Net of Tax	Treasury Stock, at Cost
Beginning balance at Dec. 31, 2019	$ 9,122	$ (240)	$ 72,648	$ 14,109	$ 0	$ 0	$ (74,188)	$ (240)	$ 438	$ (3,885)
Beginning balance (in shares) at Dec. 31, 2019			1	464	650
Comprehensive income (loss):
Net income (loss)	1,950						1,950
Other comprehensive income (loss), net of taxes	610								610
Comprehensive income (loss)	2,560						1,950		610
Ending balance at Jun. 30, 2020	11,442		$ 72,648	$ 14,109	$ 0	0	(72,478)		1,048	(3,885)
Ending balance (in shares) at Jun. 30, 2020			1	464	650
Beginning balance at Mar. 31, 2020	9,504		$ 72,648	$ 14,109	$ 0	0	(74,255)		887	(3,885)
Beginning balance (in shares) at Mar. 31, 2020			1	464	650
Comprehensive income (loss):
Net income (loss)	1,777						1,777
Other comprehensive income (loss), net of taxes	161								161
Comprehensive income (loss)	1,938						1,777		161
Ending balance at Jun. 30, 2020	11,442		$ 72,648	$ 14,109	$ 0	0	(72,478)		1,048	(3,885)
Ending balance (in shares) at Jun. 30, 2020			1	464	650
Beginning balance at Dec. 31, 2020	16,413		$ 72,648	$ 14,109	$ 0	0	(67,102)		643	(3,885)
Beginning balance (in shares) at Dec. 31, 2020			1	464	650
Comprehensive income (loss):
Net income (loss)	6,446						6,446
Other comprehensive income (loss), net of taxes	(457)								(457)
Comprehensive income (loss)	5,989						6,446		(457)
Ending balance at Jun. 30, 2021	22,402		$ 72,648	$ 14,109	$ 0	0	(60,656)		186	(3,885)
Ending balance (in shares) at Jun. 30, 2021			1	464	650
Beginning balance at Mar. 31, 2021	18,791		$ 72,648	$ 14,109	$ 0	0	(64,335)		254	(3,885)
Beginning balance (in shares) at Mar. 31, 2021			1	464	650
Comprehensive income (loss):
Net income (loss)	3,679						3,679
Other comprehensive income (loss), net of taxes	(68)								(68)
Comprehensive income (loss)	3,611						3,679		(68)
Ending balance at Jun. 30, 2021	$ 22,402		$ 72,648	$ 14,109	$ 0	$ 0	$ (60,656)		$ 186	$ (3,885)
Ending balance (in shares) at Jun. 30, 2021			1	464	650

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net cash provided by (used in) operating activities	$ 16,070	$ 428
Cash flows from investing activities
Purchases of trading securities	(62,814)	(78,316)
Proceeds from sales of trading securities	67,944	58,808
Proceeds from maturities and repayments of trading securities	3,126	11,172
Purchases of available-for-sale securities	(7,288)	(5,668)
Proceeds from sales of available-for-sale securities	20,941	24,810
Proceeds from maturities and repayments of available-for-sale securities	753	1,737
Purchases of mortgage loans acquired as held-for-investment	(367,336)	(221,933)
Proceeds from sales of mortgage loans acquired as held-for-investment	5,199	2,706
Proceeds from repayments of mortgage loans acquired as held-for-investment	414,680	294,343
Advances under secured lending arrangements	(112,980)	(47,276)
Repayments of secured lending arrangements	92	964
Net proceeds from dispositions of real estate owned and other recoveries	144	446
Net (increase) decrease in securities purchased under agreements to resell	(13,314)	(43,234)
Derivative premiums and terminations, swap collateral, and exchange settlement payments, net	1,113	(9,273)
Other, net	(303)	(292)
Net cash provided by (used in) investing activities	(50,043)	(11,006)
Cash flows from financing activities
Net increase (decrease) in securities sold under agreements to repurchase	4,620	(1,179)
Other, net	(3)	(40)
Net Cash Provided by (Used in) Financing Activities, Total	21,255	12,994
Net increase (decrease) in cash and cash equivalents (includes restricted cash and cash equivalents)	(12,718)	2,416
Cash and cash equivalents (includes restricted cash and cash equivalents) at beginning of year	23,889	5,189
Cash and cash equivalents (includes restricted cash and cash equivalents) at end of period	11,171	7,605
Cash paid for:
Debt interest	34,301	35,486
Income taxes	2,590	340
Held by consolidated trusts
Cash flows from financing activities
Proceeds from issuance of debt	501,890	267,231
Repayments and redemptions of debt	(429,404)	(268,704)
Cash and cash equivalents (includes restricted cash and cash equivalents) at beginning of year	17,290
Cash and cash equivalents (includes restricted cash and cash equivalents) at end of period	3,860
Held by Freddie Mac
Cash flows from financing activities
Proceeds from issuance of debt	23,153	295,145
Repayments and redemptions of debt	$ (79,001)	$ (279,459)

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
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, 2020, or 2020 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 2020 Annual Report. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our 2020 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. 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. During 1Q 2021, our chief operating decision maker began making decisions about allocating resources and assessing segment performance based on two reportable segments, Single-family and Multifamily. See Note 15 for additional information on the change in our segment reporting presentation. 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. Other Significant Accounting Policies Recently Adopted Accounting Guidance Standard Description Date of Effect on Consolidated Financial Statements ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The amendments in this Update simplify an issuer's January 1, 2021 The adoption of the amendments did not have a material effect on our consolidated financial statements. ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs The amendments in this Update clarify the guidance January 1, 2021 The adoption of the amendments did not have a material effect on our consolidated financial statements. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Effect on Consolidated Financial Statements ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options The amendments in this Update require issuers to account for modifications or exchanges of freestanding equity-classified written call options based on the reason for the modification or exchange, to issue equity, to issue or modify debt, or for other reasons. January 1, 2022 We do not expect the adoption of the amendments to have a material effect on our consolidated financial statements.

Conservatorship and Related Mat

Conservatorship and Related Matters	6 Months Ended
	Jun. 30, 2021
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 of Directors 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. Purchase Agreement Treasury, as the holder of the senior preferred stock, is entitled to receive quarterly cash dividends, when, as, and if declared by our Board of Directors. The dividends we have paid to Treasury on the senior preferred stock have been declared by, and paid at the direction of, the Conservator, acting as successor to the rights, titles, powers, and privileges of the Board of Directors. Under the August 2012 amendment to the Purchase Agreement, for each quarter from January 1, 2013 and thereafter, the dividend payment will be the amount, if any, by which our Net Worth Amount at the end of the immediately preceding fiscal quarter, less the applicable Capital Reserve Amount, exceeds zero. Pursuant to the January 2021 Letter Agreement, the applicable Capital Reserve Amount from October 1, 2020 is the amount of adjusted total capital necessary to meet capital requirements and buffers set forth in the ERCF. This increased Capital Reserve Amount will remain in effect until the last day of the second fiscal quarter during which we have reached and maintained such level of capital (the Capital Reserve End Date). As a result, the company was not required to pay a dividend to Treasury on the senior preferred stock in June 2021, and we will not be required to pay a dividend on the senior preferred stock to Treasury until we have built sufficient capital to meet the capital requirements and buffers set forth in the ERCF. If for any reason we were not to pay our dividend requirements on the senior preferred stock in full in any future period until the Capital Reserve End Date, the unpaid amount would be added to the liquidation preference and the applicable Capital Reserve Amount would thereafter be zero. As the company builds capital during this period, the quarterly increases in our Net Worth Amount have been, and will continue to be, added to the liquidation preference of the senior preferred stock. As a result, the liquidation preference of the senior preferred stock increased from $89.1 billion as of March 31, 2021 to $91.4 billion on June 30, 2021 based on the $2.4 billion increase in our Net Worth Amount during 1Q 2021, and will increase to $95.0 billion on September 30, 2021 based on the $3.6 billion increase in our Net Worth Amount during 2Q 2021. The Purchase Agreement, as amended by the January 2021 Letter Agreement, includes significant restrictions on our ability to manage our business, including limits on our secondary market activities; the amount and type of single-family and multifamily loans we can acquire; the amount of indebtedness we can incur; the size of our mortgage-related investments portfolio; and our ability to pay dividends, transfer certain assets, raise capital, pay down the liquidation preference of the senior preferred stock, and exit conservatorship. We have accounted for the January 2021 Letter Agreement as a modification of the senior preferred stock recognized on our condensed consolidated balance sheet. The Purchase Agreement has an indefinite term and can terminate only in limited circumstances, which do not include the end of the conservatorship. The Purchase Agreement therefore could continue after the conservatorship ends. However, Treasury's consent is required for a termination of conservatorship other than in connection with receivership or under the limited circumstances specified in the Purchase Agreement as amended by the January 2021 Letter Agreement involving maintenance of certain capital and resolution of currently pending material litigation related to our conservatorship and the Purchase Agreement. Treasury has the right to exercise the warrant, in whole or in part, at any time on or before September 7, 2028. Impact of Conservatorship and Related Developments on the Mortgage-Related Investments Portfolio In February 2019, FHFA directed us to maintain our mortgage-related investments portfolio at or below $225 billion at all times. The amount of mortgage assets that we may own in this portfolio is also currently capped under the Purchase Agreement at $250 billion. The Purchase Agreement cap will be lowered from $250 billion to $225 billion at the end of 2022. In addition to UPB, the calculation of mortgage assets subject to the FHFA and Purchase Agreement caps includes 10% of the notional value of interest-only securities. The balance of the mortgage-related investments portfolio for the purposes of the FHFA and Purchase Agreement limits was $124.1 billion as of June 30, 2021, including $10.8 billion representing 10% of the notional amount of the interest-only securities we held as of June 30, 2021. Our ability to acquire and sell mortgage assets continues to be significantly constrained by limitations imposed by the Purchase Agreement and FHFA. With respect to the composition of our mortgage-related investments portfolio, in August 2020, FHFA instructed us to: (1) reduce the amount of agency MBS to no more than $50 billion by June 30, 2021 and no more than $20 billion by June 30, 2022, with all dollar caps to be based on UPB; and (2) reduce the UPB of our existing portfolio of CMOs, which are also sometimes referred to as REMICs, to zero as of June 30, 2021. We will have a holding period limit to sell any new CMO tranches created but not sold at issuance. CMOs do not include tranches initially retained from reperforming loans senior subordinate securitization structures. Government Support for Our Business We receive substantial support from Treasury and are dependent upon its continued support 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 March 31, 2021, our assets exceeded our liabilities under GAAP; therefore, FHFA did not request a draw on our behalf and, as a result, we did not receive any funding from Treasury under the Purchase Agreement during 2Q 2021. The amount of available funding remaining under the Purchase Agreement is $140.2 billion and will be reduced by any future draws. See Note 9 and Note 12 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 and is also deemed a related party. During YTD 2021, we contributed $45 million of capital to CSS, and we have contributed $702 million since we began making contributions in the fourth quarter of 2014. The carrying value of our investment in CSS was $17 million and $16 million as of June 30, 2021 and December 31, 2020, respectively, and was included in other assets on our condensed consolidated balance sheets.

Securitization Activities and C

Securitization Activities and Consolidation	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Securitization Activities and Consolidation	Securitization Activities and Consolidation Our primary business activities in our Single-family 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. We do not believe the maximum exposure to loss from our involvement with VIEs for which we are not the primary beneficiary discussed 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 enhancements. See Note 8 for additional information on credit enhancements. Certain of our interest-rate risk-related guarantees to VIEs for which we are not the primary beneficiary may create exposure to loss that is unlimited. We account for these interest-rate risk-related guarantees at fair value as discussed further in Note 5 and generally reduce our exposure to these guarantees with unlimited interest rate exposure through separate derivative contracts with third parties. See Note 10 for additional information on derivatives. Securitization Activities Single-family Resecuritization Products With the exception of commingled securities, our investments in and guarantees of securities issued by resecuritization trusts for which we are not the primary beneficiary typically do not create any incremental exposure to loss because we already guarantee and consolidate the underlying collateral. The fair value of these investments in our resecuritization trusts for which we are not the primary beneficiary was $23.6 billion and $28.5 billion as of June 30, 2021 and December 31, 2020, respectively. While our guarantee of Fannie Mae securities underlying commingled resecuritization products creates incremental exposure to loss, we view the likelihood of being required to perform on our guarantee as remote due to Fannie Mae’s status as a GSE and the funding commitment available to it through its senior preferred stock purchase agreement with Treasury. The UPB of Fannie Mae securities underlying commingled Freddie Mac resecuritization trusts for which we are not the primary beneficiary totaled $94.9 billion and $85.3 billion as of June 30, 2021 and December 31, 2020, respectively. See Note 5 for additional information on our guarantee of Fannie Mae securities. Senior Subordinate Securitization Structures We do not consolidate our single-family senior subordinate securitization structures backed by seasoned loans because we do not have the ability to direct the loss mitigation activities of the underlying loans, which is the most significant activity affecting the economic performance of the VIE. The maximum exposure to loss for our single-family senior subordinate securitization structures for which we are not the primary beneficiary totaled $28.3 billion and $28.1 billion at June 30, 2021 and December 31, 2020, respectively, and represents the UPB of the beneficial interests that we have guaranteed. The total assets of these nonconsolidated VIEs totaled $34.1 billion and $33.7 billion at June 30, 2021 and December 31, 2020, respectively. Other Securitization Products We do not consolidate the trusts used to issue our single-family other securitization products when we are not the primary beneficiary. The maximum exposure to loss for these single-family securitizations for which we are not the primary beneficiary totaled $1.4 billion and $1.7 billion at June 30, 2021 and December 31, 2020, respectively. The total assets of these nonconsolidated VIEs totaled $1.5 billion and $1.8 billion at June 30, 2021 and December 31, 2020, respectively. Multifamily K Certificates We do not consolidate our K Certificate securitization trusts that have subordination because we do not have the ability to direct the loss mitigation activities of the underlying loans, which is the most significant activity affecting the economic performance of the VIE. The maximum exposure to loss for our K Certificate securitizations for which we are not the primary beneficiary totaled $274.8 billion and $253.0 billion at June 30, 2021 and December 31, 2020, respectively, and primarily represents the UPB of the beneficial interests that we have guaranteed. The total assets of these nonconsolidated VIEs totaled $314.3 billion and $291.3 billion at June 30, 2021 and December 31, 2020, respectively . SB Certificates Similar to K Certificate transactions, we are not the primary beneficiary of and, therefore, do not consolidate SB Certificate trusts, as we do not have the ability to direct loss mitigation activities of the underlying loans, which is the most significant activity affecting the economic performance of the VIE. The maximum exposure to loss for our SB Certificate securitizations for which we are not the primary beneficiary totaled $22.1 billion and $21.5 billion at June 30, 2021 and December 31, 2020, respectively, and primarily represents the UPB of the beneficial interests that we have guaranteed. The total assets of these nonconsolidated VIEs totaled $24.6 billion and $23.9 billion at June 30, 2021 and December 31, 2020, respectively. Other Securitization Products We do not consolidate the trusts used to issue our other securitization products when we are not the primary beneficiary. The maximum exposure to loss for our other securitization products for which we are not the primary beneficiary totaled $14.8 billion and $14.9 billion at June 30, 2021 and December 31, 2020, respectively, and primarily represents the UPB of the beneficial interests that we have guaranteed. The total assets of these nonconsolidated VIEs totaled $16.9 billion at both June 30, 2021 and December 31, 2020. CRT Activities STACR Trust Notes We are not the primary beneficiary of and, therefore, do not consolidate the STACR Trusts used in the STACR Trust Note transactions. The maximum exposure to loss for our STACR Trust transactions for which we are not the primary beneficiary represents our recorded expected recovery receivable and totaled $174 million and $420 million at June 30, 2021 and December 31, 2020, respectively. The total assets of these nonconsolidated VIEs totaled $19.9 billion and $17.3 billion at June 30, 2021 and December 31, 2020, respectively. See Note 8 for additional information on the amount of available coverage. 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) June 30, 2021 December 31, 2020 Condensed Consolidated Balance Sheet Line Item Assets: Cash and cash equivalents (includes $3,859 and $17,289 of restricted cash and cash equivalents) $3,860 $17,290 Securities purchased under agreements to resell 36,266 38,487 Investment securities, at fair value 4,159 591 Mortgage loans held-for-investment, net 2,543,467 2,273,347 Accrued interest receivable, net 7,141 7,134 Other assets 16,194 20,480 Total assets of consolidated VIEs $2,611,087 $2,357,329 Liabilities: Accrued interest payable $5,631 $5,610 Debt 2,575,653 2,308,176 Total liabilities of consolidated VIEs $2,581,284 $2,313,786 Nonconsolidated VIEs The following table presents the carrying amounts and classification of the assets and liabilities recorded on our condensed consolidated balance sheets related to VIEs for which we are not the primary beneficiary and with which we were involved in the design and creation and have a significant continuing involvement. Our involvement with such VIEs primarily consists of investments in debt securities issued by resecuritization trusts and guarantees of senior securities issued by certain Multifamily securitization trusts. Table 3.2 - Nonconsolidated VIEs (In millions) June 30, 2021 December 31, 2020 Assets and Liabilities Recorded on our Condensed Consolidated Balance Sheets (1) Assets: Investment securities, at fair value $23,598 $28,459 Accrued interest receivable, net 236 239 Derivative assets, net 24 61 Other assets 5,615 5,553 Liabilities: Debt 67 — Derivative liabilities, net 46 47 Other liabilities 4,857 4,515 (1) Includes our variable interests in REMICs and Strips, commingled Supers, K Certificates, SB Certificates, certain senior subordinate securitization structures, and other securitization products that we do not consolidate. We also obtain interests in various other entities created by third parties through the normal course of business that may be VIEs, such as through our investments in certain non-Freddie Mac mortgage-related securities, purchases of multifamily loans, guarantees of multifamily housing revenue bonds, as a derivative counterparty or through other activities. To the extent that we were not involved in the design or creation of these VIEs, they are excluded from the table above. Our interests in these VIEs are generally passive in nature and are not expected to result in us obtaining a controlling financial interest in these VIEs in the future. As a result, we do not consolidate these VIEs and we account for our interests in these VIEs in the same manner that we account for our interests in other third-party transactions. See Note 6 for additional information regarding our investments in non-Freddie Mac mortgage-related securities. See Note 4 for more information regarding multifamily loans.

Mortgage Loans

Mortgage Loans	6 Months Ended
	Jun. 30, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
Mortgage Loans	Mortgage Loans The table below provides details of the loans on our condensed consolidated balance sheets. Table 4.1 - Mortgage Loans June 30, 2021 December 31, 2020 (In millions) Single-family Multifamily Total Single-family Multifamily Total Held-for-sale UPB $7,920 $10,475 $18,395 $10,702 $23,789 $34,491 Cost basis and fair value adjustments, net (1,272) 385 (887) (1,637) 798 (839) Total held-for-sale loans, net 6,648 10,860 17,508 9,065 24,587 33,652 Held-for-investment UPB 2,510,339 22,209 2,532,548 2,271,576 21,923 2,293,499 Cost basis adjustments 62,756 59 62,815 62,415 54 62,469 Allowance for credit losses (4,601) (47) (4,648) (5,628) (104) (5,732) Total held-for-investment loans, net 2,568,494 22,221 2,590,715 2,328,363 21,873 2,350,236 Total mortgage loans, net $2,575,142 $33,081 $2,608,223 $2,337,428 $46,460 $2,383,888 The table below provides details of the UPB of loans we purchased and sold during the periods presented. Table 4.2 - Loans Purchased and Sold (In billions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Single-family: Purchases: Held-for-investment loans $287.1 $230.7 $647.7 $368.4 Sale of held-for-sale loans (1) 3.0 — 3.0 2.2 Multifamily: Purchases: Held-for-investment loans 1.3 3.1 2.9 4.3 Held-for-sale loans 11.5 16.4 23.8 24.6 Sale of held-for-sale loans (2) 17.7 11.0 38.8 21.7 (1) Our sales of single-family loans reflect the sale of seasoned single-family mortgage loans. (2) Our sales of multifamily loans occur primarily through the issuance of multifamily K Certificates and SB Certificates. See Note 3 Reclassifications We reclassify loans between held-for-investment and held-for-sale depending on our intent and ability to hold the loan for the foreseeable future. The table below presents the allowance for credit losses or valuation allowance that was reversed or established due to loan reclassifications between held-for-investment and held-for-sale during the period presented. Table 4.3 - Loan Reclassifications 2Q 2021 2Q 2020 (In millions) UPB Allowance for Credit Losses Reversed or (Established) Valuation Allowance (Established) or Reversed UPB Allowance for Credit Losses Reversed or (Established) Valuation Allowance (Established) or Reversed Single-family reclassifications from: Held-for-investment to held-for-sale (1) $469 $28 $— $759 $34 $— Held-for-sale to held-for-investment (2) 67 6 — 244 20 4 Multifamily reclassifications from: Held-for-investment to held-for-sale 1,202 5 — 615 — — Held-for-sale to held-for-investment 12 — — 89 — — YTD 2021 YTD 2020 (In millions) UPB Allowance for Credit Losses Reversed or (Established) Valuation Allowance (Established) or Reversed UPB Allowance for Credit Losses Reversed or (Established) Valuation Allowance (Established) or Reversed Single-family reclassifications from: Held-for-investment to held-for-sale (1) $970 $35 $— $3,396 $248 $— Held-for-sale to held-for-investment (2) 102 9 — 245 20 4 Multifamily reclassifications from: Held-for-investment to held-for-sale 1,730 6 — 647 — — Held-for-sale to held-for-investment 21 — — 571 (1) — (1) Prior to reclassification from held-for-investment to held-for-sale, we charged-off $15 million and $42 million against the allowance for credit losses during 2Q 2021 and YTD 2021, respectively, compared to $94 million and $173 million during 2Q 2020 and YTD 2020, respectively. (2) Allowance for credit losses reversed upon reclassifications from held-for-sale to held-for-investment for loans that were previously charged off and the present values of expected future cash flows were in excess of the amortized cost basis upon reclassification. Interest Income The table below provides the amortized cost basis of non-accrual loans as of the beginning and the end of the periods presented, including the interest income recognized for the period that is related to the loans on non-accrual status as of the period end. Table 4.4 - Amortized Cost Basis of Held-for-Investment Loans on Non-Accrual Non-Accrual Amortized Cost Basis Interest Income Recognized (1) (In millions) March 31, 2021 June 30, 2021 2Q 2021 YTD 2021 Single-family: 20- and 30-year or more, amortizing fixed-rate $21,137 $19,431 $35 $70 15-year amortizing fixed-rate 1,031 914 1 3 Adjustable-rate 296 268 — 1 Alt-A, interest-only, and option ARM 700 611 1 2 Total single-family 23,164 21,224 37 76 Total multifamily — — — — Total single-family and multifamily $23,164 $21,224 $37 $76 Referenced footnotes are included after the prior period table. Non-Accrual Amortized Cost Basis Interest Income Recognized (1) (In millions) March 31, 2020 June 30, 2020 2Q 2020 YTD 2020 Single-family: 20- and 30-year or more, amortizing fixed-rate $5,494 $10,226 ($35) $30 15-year amortizing fixed-rate 241 528 (2) 1 Adjustable-rate 83 150 — — Alt-A, interest-only, and option ARM 389 540 (1) 2 Total single-family 6,207 11,444 (38) 33 Total multifamily 13 — — — Total single-family and multifamily $6,220 $11,444 ($38) $33 (1) Represents the amount of payments received during the period, including those received while the loans were on accrual status, for the held-for-investment loans on non-accrual status as of period end. The table below provides the amount of accrued interest receivable, net, presented on our condensed consolidated balance sheets and the amount of accrued interest receivable related to loans on non-accrual status at the end of the periods that is charged off. Table 4.5 - Accrued Interest Receivable, Net and Related Charge-Offs Accrued Interest Receivable, Net Accrued Interest Receivable Related Charge-Offs (In millions) June 30, 2021 December 31, 2020 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Single-family loans $7,222 $7,292 ($119) ($92) ($285) ($121) Multifamily loans 104 139 — — — — 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 16 . The table below presents the amortized cost basis of single-family held-for-investment loans by current LTV ratio. Our current LTV ratios are estimates based on available data through the end of each period presented. 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. Table 4.6 - Amortized Cost Basis of Single-Family Held-for-Investment Loans by Current LTV Ratio and Vintage June 30, 2021 Year of Origination Total (In millions) 2021 2020 2019 2018 2017 Prior Current LTV Ratio: 20- and 30-year or more, amortizing fixed-rate ≤ 60 $115,459 $306,280 $65,299 $38,381 $65,585 $467,656 $1,058,660 > 60 to 80 235,850 446,701 107,331 36,116 27,259 36,693 889,950 > 80 to 90 63,487 98,729 7,580 1,426 489 1,565 173,276 > 90 to 100 39,697 3,968 167 53 41 561 44,487 > 100 (1) 67 7 2 14 33 554 677 Total 20- and 30-year or more, amortizing fixed-rate 454,560 855,685 180,379 75,990 93,407 507,029 2,167,050 15-year amortizing fixed-rate ≤ 60 43,775 102,912 18,842 8,654 16,342 94,098 284,623 > 60 to 80 33,861 46,353 4,268 539 204 100 85,325 > 80 to 90 3,311 1,540 33 4 4 9 4,901 > 90 to 100 595 41 — 1 2 3 642 > 100 (1) 9 — — 1 2 6 18 Total 15-year amortizing fixed-rate 81,551 150,846 23,143 9,199 16,554 94,216 375,509 Adjustable-rate ≤ 60 545 1,539 803 636 2,056 12,158 17,737 > 60 to 80 746 947 472 214 404 313 3,096 > 80 to 90 130 55 15 5 7 4 216 > 90 to 100 55 — 1 — — 1 57 > 100 (1) — — — — — 1 1 Total adjustable-rate 1,476 2,541 1,291 855 2,467 12,477 21,107 Alt-A, Interest-only, and option ARM ≤ 60 — — — — — 8,149 8,149 > 60 to 80 — — — — — 1,083 1,083 > 80 to 90 — — — — — 120 120 > 90 to 100 — — — — — 45 45 > 100 (1) — — — — — 32 32 Total Alt-A, interest-only, and option ARM — — — — — 9,429 9,429 Total single-family loans $537,587 $1,009,072 $204,813 $86,044 $112,428 $623,151 $2,573,095 Total for all loan product types by current LTV ratio: ≤ 60 $159,779 $410,731 $84,944 $47,671 $83,983 $582,061 $1,369,169 > 60 to 80 270,457 494,001 112,071 36,869 27,867 38,189 979,454 > 80 to 90 66,928 100,324 7,628 1,435 500 1,698 178,513 > 90 to 100 40,347 4,009 168 54 43 610 45,231 > 100 (1) 76 7 2 15 35 593 728 Total single-family loans $537,587 $1,009,072 $204,813 $86,044 $112,428 $623,151 $2,573,095 Referenced footnotes are included after the prior period table. December 31, 2020 Year of Origination Total (In millions) 2020 2019 2018 2017 2016 Prior Current LTV Ratio: 20- and 30-year or more, amortizing fixed-rate ≤ 60 $203,333 $52,820 $33,139 $64,834 $115,978 $431,406 $901,510 > 60 to 80 437,107 141,094 64,236 59,110 40,614 44,636 786,797 > 80 to 100 206,457 53,926 8,822 2,117 654 3,983 275,959 > 100 (1) 202 7 25 64 61 948 1,307 Total 20- and 30-year or more, amortizing fixed-rate 847,099 247,847 106,222 126,125 157,307 480,973 1,965,573 15-year amortizing fixed-rate ≤ 60 78,269 17,753 9,914 19,650 29,916 83,842 239,344 > 60 to 80 67,904 12,169 2,195 961 215 135 83,579 > 80 to 100 8,553 400 17 12 9 17 9,008 > 100 (1) 21 — 3 5 3 7 39 Total 15-year amortizing fixed-rate 154,747 30,322 12,129 20,628 30,143 84,001 331,970 Adjustable-rate ≤ 60 1,427 850 731 2,429 2,042 12,993 20,472 > 60 to 80 1,403 877 537 1,061 329 528 4,735 > 80 to 100 232 125 34 29 2 8 430 > 100 (1) — — — — — 1 1 Total adjustable-rate 3,062 1,852 1,302 3,519 2,373 13,530 25,638 Alt-A, Interest-only, and option ARM ≤ 60 — — — — — 8,620 8,620 > 60 to 80 — — — — — 1,818 1,818 > 80 to 100 — — — — — 314 314 > 100 (1) — — — — — 58 58 Total Alt-A, interest-only, and option ARM — — — — — 10,810 10,810 Total single-family loans $1,004,908 $280,021 $119,653 $150,272 $189,823 $589,314 $2,333,991 Total for all loan product types by Current LTV ratio: ≤ 60 $283,029 $71,423 $43,784 $86,913 $147,936 $536,861 $1,169,946 > 60 to 80 506,414 154,140 66,968 61,132 41,158 47,117 876,929 > 80 to 100 215,242 54,451 8,873 2,158 665 4,322 285,711 > 100 (1) 223 7 28 69 64 1,014 1,405 Total single-family loans $1,004,908 $280,021 $119,653 $150,272 $189,823 $589,314 $2,333,991 (1) The serious delinquency rate for the single-family held-for-investment mortgage loans with current LTV ratios in excess of 100% was 10.22% and 11.17% as of June 30, 2021 and December 31, 2020, respectively. Multifamily The table below presents the amortized cost basis of 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 and are defined as follows: n "Pass" is current and adequately protected by the current financial strength and debt service capacity of the borrower; n "Special mention" has administrative issues that may affect future repayment prospects but does not have current credit weaknesses. In addition, this category generally includes loans in forbearance; n "Substandard" has a weakness that jeopardizes the timely full repayment; and n "Doubtful" has a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions. Table 4.7 - Amortized Cost Basis of Multifamily Held-for-Investment Loans by Credit Quality Indicator by Vintage June 30, 2021 Year of Origination Total (In millions) 2021 2020 2019 2018 2017 Prior Revolving Loans Category: Pass $1,293 $7,698 $5,560 $1,135 $654 $3,039 $2,168 $21,547 Special mention — — 476 — — 106 — 582 Substandard — — 23 1 13 102 — 139 Doubtful — — — — — — — — Total $1,293 $7,698 $6,059 $1,136 $667 $3,247 $2,168 $22,268 December 31, 2020 Year of Origination Total (In millions) 2020 2019 2018 2017 2016 Prior Revolving Loans Category: Pass $7,486 $6,491 $1,075 $722 $590 $2,715 $2,024 $21,103 Special mention — 524 115 — 8 108 — 755 Substandard — — 6 41 — 72 — 119 Doubtful — — — — — — — — Total $7,486 $7,015 $1,196 $763 $598 $2,895 $2,024 $21,977 Past Due Status The table below presents the amortized cost basis of our single-family and multifamily loans, held-for-investment, by payment status. Table 4.8 - Amortized Cost Basis of Held-for-Investment Loans by Payment Status June 30, 2021 (In millions) Current One Month Past Due Two Months Past Due Three Months or More Past Due, or in Foreclosure (1) Total Three Months or More Past Due, and Accruing Non-accrual With No Allowance (2) Single-family: 20- and 30-year or more, amortizing fixed-rate $2,114,708 $11,746 $3,429 $37,167 $2,167,050 $18,089 $845 15-year amortizing fixed-rate 371,888 1,103 235 2,283 375,509 1,363 10 Adjustable-rate 20,323 143 42 599 21,107 334 7 Alt-A, interest-only, and option ARM 8,266 222 78 863 9,429 254 128 Total single-family 2,515,185 13,214 3,784 40,912 2,573,095 20,040 990 Total multifamily (3) 22,268 — — — 22,268 — — Total single-family and multifamily $2,537,453 $13,214 $3,784 $40,912 $2,595,363 $20,040 $990 Referenced footnotes are included after the prior period table. December 31, 2020 (In millions) Current One Two Three Months or (1) Total Three Months or More Past Due, and Accruing Non-accrual with No Allowance (2) Single-family: 20- and 30-year or more, amortizing fixed-rate $1,891,981 $15,798 $5,941 $51,853 $1,965,573 $40,162 $648 15-year amortizing fixed-rate 326,651 1,439 429 3,451 331,970 2,723 11 Adjustable-rate 24,483 192 79 884 25,638 690 5 Alt-A, interest-only, and option ARM 9,227 292 130 1,161 10,810 538 115 Total single-family 2,252,342 17,721 6,579 57,349 2,333,991 44,113 779 Total multifamily (3) 21,977 — — — 21,977 — — Total single-family and multifamily $2,274,319 $17,721 $6,579 $57,349 $2,355,968 $44,113 $779 (1) Includes $0.8 billion and $1.0 billion of single-family loans that were in the process of foreclosure as of June 30, 2021 and December 31, 2020, respectively. (2) Loans with no allowance for loan losses primarily represent those loans that were previously charged-off and therefore the collateral value is sufficiently in excess of the amortized cost to result in recovery of the entire amortized cost basis if the property were foreclosed upon or otherwise subject to disposition. We exclude the amounts of allowance for credit losses on accrued interest receivable and advances of pre-foreclosure costs when determining whether a loan has an allowance for credit losses. (3) As of June 30, 2021 and December 31, 2020, includes $0.6 billion and $0.7 billion of multifamily loans in forbearance that are reported as current. The table below provides details of our single-family loan modifications that were classified as TDRs during the periods presented. Table 4.9 - Single-Family TDR Modification Metrics 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Percentage of single-family loan modifications that were classified as TDRs with: Interest rate reductions and related term extensions 13 % 15 % 14 % 15 % Principal forbearance and related interest rate reductions and term extensions 37 18 35 19 Average coupon interest rate reduction 0.4 % 0.3 % 0.4 % 0.3 % Average months of term extension 145 187 149 187 Substantially all of our completed single-family loan modifications classified as a TDR during 2Q 2021, 2Q 2020, YTD 2021, and YTD 2020 resulted in a modified loan with a fixed interest rate. The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs. 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 2Q 2021 2Q 2020 YTD 2021 YTD 2020 (Dollars in millions) Number of Loans Post-TDR Number of Loans Post-TDR Number of Loans Post-TDR Number of Loans Post-TDR Single-family: (1)(2) 20- and 30-year or more, amortizing fixed-rate 3,729 $656 5,309 $943 7,511 $1,327 11,741 $2,070 15-year amortizing fixed-rate 425 47 590 61 897 94 1,319 133 Adjustable-rate 52 10 88 15 100 19 185 32 Alt-A, interest-only, and option ARM 156 20 135 19 307 39 301 43 Total single-family 4,362 733 6,122 1,038 8,815 1,479 13,546 2,278 Multifamily — — — — — — — — (1) The pre-TDR amortized cost basis for single-family loans initially classified as TDR during 2Q 2021 and YTD 2021 was $0.8 billion and $1.5 billion, respectively, compared to $1.0 billion and $2.3 billion during 2Q 2020 and YTD 2020, respectively. (2) Includes certain bankruptcy events and forbearance plans, repayment plans, payment deferrals, and modification activities that do not qualify for the temporary relief related to TDR provided by the CARES Act based on servicer reporting at the time of the TDR event. 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. Table 4.11 - Payment Defaults of Completed TDR Modifications 2Q 2021 2Q 2020 YTD 2021 YTD 2020 (Dollars in millions) Number of Loans Post-TDR Amortized Cost Basis Number of Loans Post-TDR Amortized Cost Basis Number of Loans Post-TDR Amortized Cost Basis Number of Loans Post-TDR Amortized Cost Basis Single-family: 20- and 30-year or more, amortizing fixed-rate 682 $124 4,116 $791 1,813 $322 6,620 $1,218 15-year amortizing fixed-rate 24 2 197 26 86 9 316 40 Adjustable-rate 6 1 59 10 21 4 88 14 Alt-A, interest-only, and option ARM 89 13 349 72 216 34 513 104 Total single-family 801 140 4,721 899 2,136 369 7,537 1,376 Multifamily — — — — — — — —

Guarantees and Other Off-Balanc

Guarantees and Other Off-Balance Sheet Credit Exposures	6 Months Ended
	Jun. 30, 2021
Guarantees [Abstract]
Guarantees and Other Off-Balance Sheet Credit Exposures	Guarantees and Other Off-Balance Sheet Credit ExposuresWe 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 generally 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 guarantees to nonconsolidated VIEs and other third parties. This table does not include certain of 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 enhancements. See Note 8 for additional information on our credit enhancements. Table 5.1 - Financial Guarantees June 30, 2021 December 31, 2020 ( Dollars in millions , terms in years) Maximum (1) Recognized (2) Maximum Maximum (1) Recognized (2) Maximum Single-family: Securitization activity guarantees $29,696 $410 39 $29,739 $401 39 Other mortgage-related guarantees 10,148 241 30 9,215 193 30 Total single-family $39,844 $651 $38,954 $594 Multifamily: Securitization activity guarantees $309,718 $4,382 39 $287,334 $4,031 39 Other mortgage-related guarantees 9,973 389 33 10,721 425 33 Total multifamily $319,691 $4,771 $298,055 $4,456 Other guarantees $63,926 $1,387 30 $47,703 $794 30 Fannie Mae securities backing Freddie Mac resecuritization products 99,039 — 40 85,841 — 41 (1) The maximum exposure represents the contractual amounts that could be lost if counterparties or borrowers defaulted, without consideration of proceeds from related collateral liquidation and possible recoveries under credit enhancements. For other guarantees, this amount primarily represents the notional amount or UPB of our interest-rate and market value guarantees and guarantees of third-party derivatives. For certain of our other guarantees, our exposure may be unlimited; however, we generally reduce our exposure through separate contracts with third parties. The table below shows the payment status of the mortgage loans underlying our guarantees that are not measured at fair value. Table 5.2 – UPB of Loans Underlying Our Guarantees by Payment Status June 30, 2021 (In millions) Current One Month Past Due Two Months Past Due Three Months or More Past Due, or in Foreclosure Total (1) Single-family $40,023 $1,784 $594 $3,058 $45,459 Multifamily (2) 362,877 55 25 548 363,505 Total $402,900 $1,839 $619 $3,606 $408,964 December 31, 2020 (In millions) Current One Month Past Due Two Months Past Due Three Months or More Past Due, or in Foreclosure Total (1) Single-family $37,187 $2,204 $945 $3,922 $44,258 Multifamily 339,614 87 62 557 340,320 Total $376,801 $2,291 $1,007 $4,479 $384,578 (1) Loan-level payment status is not available for certain guarantees totaling $0.5 billion and $0.7 billion as of June 30, 2021 and December 31, 2020, respectively, and therefore is not included in the table above. (2) As of June 30, 2021, includes $4.4 billion of multifamily loans in forbearance that are reported as current. Other Off-Balance Sheet Credit Exposures In addition to our guarantees, we enter into other agreements that expose us to off-balance sheet credit risk, primarily related to our multifamily business, including certain purchase commitments that are not accounted for as derivative instruments, liquidity guarantees, unfunded lending arrangements and other similar commitments. These agreements may require us to transfer cash before or upon settlement of our contractual obligation. We recognize an allowance for credit losses for those agreements not measured at fair value or otherwise recognized in the financial statements. The total notional value of off-balance sheet credit exposures was $15.0 billion and $15.4 billion at June 30, 2021 and December 31, 2020, respectively. See Note 7 for additional discussion of our allowance for credit losses on our off-balance sheet credit exposures.

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities The table below summarizes the fair values of our investments in debt securities by classification. Table 6.1 - Investment Securities (In millions) June 30, 2021 December 31, 2020 Trading securities $54,991 $44,458 Available-for-sale securities 4,567 15,367 Total fair value of investment securities $59,558 $59,825 As of June 30, 2021 and December 31, 2020, 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 6.2 - Trading Securities (In millions) June 30, 2021 December 31, 2020 Mortgage-related securities: Agency $21,708 $17,504 Non-agency — 1 Total mortgage-related securities 21,708 17,505 Non-mortgage-related securities 33,283 26,953 Total fair value of trading securities $54,991 $44,458 For trading securities held at June 30, 2021, we recorded net unrealized gains (losses) of ($398) million and ($797) million during 2Q 2021 and YTD 2021, respectively. For trading securities held at June 30, 2020, we recorded net unrealized gains (losses) of $120 million and $638 million during 2Q 2020 and YTD 2020, respectively. Available-for-Sale Securities At June 30, 2021 and December 31, 2020, all available-for-sale securities were mortgage-related securities. We had no allowance for credit losses on our available-for-sale securities as of June 30, 2021 and December 31, 2020. The table below provides details of the securities classified as available-for-sale on our condensed consolidated balance sheets. Table 6.3 - Available-for-Sale Securities June 30, 2021 Amortized Basis Gross Unrealized Gains in Other Comprehensive Income Gross Unrealized Fair Value Accrued Interest Receivable (In millions) Available-for-sale securities: Agency $3,380 $189 ($1) $3,568 $8 Non-agency and other 757 242 — 999 4 Total available-for-sale securities $4,137 $431 ($1) $4,567 $12 December 31, 2020 Amortized Basis Gross Unrealized Gross Unrealized Fair Value Accrued Interest Receivable (In millions) Available-for-sale securities: Agency $13,514 $794 ($4) $14,304 $36 Non-agency and other 830 233 — 1,063 4 Total available-for-sale securities $14,344 $1,027 ($4) $15,367 $40 The fair value of our available-for-sale securities held at June 30, 2021 scheduled to contractually mature after ten years was $1.7 billion, with an additional $1.8 billion scheduled to contractually mature after five years through ten years. Available-for-Sale Securities in a Gross Unrealized Loss Position The table below presents available-for-sale securities in a gross unrealized loss position and whether such securities have been in an unrealized loss position for less than 12 months, or 12 months or greater. Table 6.4 - Available-for-Sale Securities in a Gross Unrealized Loss Position June 30, 2021 Less than 12 Months 12 Months or Greater (In millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-sale securities: Agency $20 $— $105 ($1) Non-agency and other — — — — Total available-for-sale securities in a gross unrealized loss position $20 $— $105 ($1) December 31, 2020 Less than 12 Months 12 Months or Greater (In millions) Fair Gross Unrealized Losses Fair Gross Unrealized Losses Available-for-sale securities: Agency $223 ($2) $144 ($2) Non-agency and other 17 — — — Total available-for-sale securities in a gross unrealized loss position $240 ($2) $144 ($2) At June 30, 2021, the gross unrealized losses relate to 31 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 6.5 - Gross Realized Gains and Gross Realized Losses from Sales of Available-for-Sale Securities (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Gross realized gains $121 $44 $520 $77 Gross realized losses (22) (37) (53) (60) Net realized gains (losses) $99 $7 $467 $17 Non-Cash Investing and Financing Activities During YTD 2021 and YTD 2020, we recognized $23.9 billion and $12.7 billion, respectively, of investment securities in exchange for the issuance of debt securities of consolidated trusts through partial sales of commingled single-class securities that were previously consolidated.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses The table below summarizes changes in our allowance for credit losses. Table 7.1 - Details of the Allowance for Credit Losses 2Q 2021 2Q 2020 YTD 2021 YTD 2020 (In millions) Single-family Multifamily Total Single-family Multifamily Total Single-family Multifamily Total Single-family Multifamily Total Beginning balance $6,130 $150 $6,280 $6,347 $136 $6,483 $6,353 $200 $6,553 $5,233 $69 $5,302 Provision (benefit) for credit losses (686) (54) (740) 624 81 705 (832) (104) (936) 1,790 148 1,938 Charge-offs (203) — (203) (121) — (121) (441) — (441) (285) — (285) Recoveries collected 61 — 61 36 — 36 107 — 107 124 — 124 Other 211 — 211 30 — 30 326 — 326 54 — 54 Ending balance $5,513 $96 $5,609 $6,916 $217 $7,133 $5,513 $96 $5,609 $6,916 $217 $7,133 Components of ending balance of allowance for credit losses: Mortgage loans held-for-investment $4,601 $47 $4,648 $6,482 $124 $6,606 Advances of pre-foreclosure costs 691 — 691 323 — 323 Accrued interest receivable on mortgage loans 168 — 168 57 — 57 Off-balance sheet credit exposures 53 49 102 54 93 147 Total $5,513 $96 $5,609 $6,916 $217 $7,133 A benefit for credit losses in the 2021 periods primarily driven by the following factors: n A reserve release due to: l Reduced expected credit losses related to COVID-19 - Our estimate of expected credit losses related to the COVID-19 pandemic decreased during the 2021 periods as economic conditions improved. Our provision for credit losses increased during the 2020 periods due to the increase in expected credit losses related to the economic effects of the pandemic. l Appreciation in realized house prices - The realized house price growth rates were higher in the 2021 periods than in the 2020 periods and, as a result, further reduced our estimate of expected credit losses as the higher house prices decreased both the probability and severity of expected credit losses. n This was partially offset by an increase in expected losses on new single-family loans due to growth in our single-family mortgage portfolio. We recognize expected credit losses at the time of loan acquisition. In addition, charge-offs increased due to an increase in the number of loans we placed on non-accrual status in the 2021 periods.

Credit Enhancements

Credit Enhancements	6 Months Ended
	Jun. 30, 2021
Credit Enhancements [Abstract]
Credit Enhancements	Credit Enhancements 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 recognized on our condensed consolidated balance sheets. The table below presents details of our credit enhancement receivables. These amounts are recognized in other assets on our condensed consolidated balance sheets. Table 8.1 - Credit Enhancement Receivables (In millions) June 30, 2021 December 31, 2020 Freestanding credit enhancement expected recovery receivables, net of allowance $217 $677 Primary mortgage insurance receivables (1) , net of allowance 71 74 Total credit enhancement receivables $288 $751 (1) Excludes $433 million and $444 million of deferred payment obligations associated with unpaid claim amounts as of June 30, 2021 and December 31, 2020, respectively. We have reserved for substantially all these unpaid amounts as collectability is uncertain. For information about counterparty credit risk associated with mortgage insurers and other credit enhancement providers, see Note 16 . Single-Family Credit Enhancements The table below presents the UPB and maximum coverage related to our single-family credit enhancements. Table 8.2 - Single-Family Credit Enhancements June 30, 2021 December 31, 2020 (In millions) Credit Enhancement Accounting Treatment UPB (1) Maximum Coverage (2) UPB (1) Maximum Coverage (2) Primary mortgage insurance (3) Attached $501,768 $122,942 $472,881 $116,973 STACR: Trust notes Freestanding 623,920 19,942 488,251 17,288 Debt notes Debt 273,747 11,553 365,482 12,377 Insurance/reinsurance (4) Freestanding 922,969 14,331 876,815 11,586 Subordination: Nonconsolidated VIEs Guarantee 34,871 5,853 34,671 5,718 Consolidated VIEs Debt 6,086 346 9,499 464 Lender risk-sharing Freestanding 4,975 4,477 5,731 4,831 Other Primarily attached 237 234 374 371 Total single-family credit enhancements $179,678 $169,608 (1) Represents the current UPB of the assets included in the associated reference pool or securitization trust, as applicable. Underlying loans may be covered by more than one form of credit enhancement. The UPB of certain CRT transactions may be different from the UPB of the underlying loans due to timing differences in reporting cycles between the transactions and the loans. Prior periods have been revised to conform to the current period presentation. (2) For STACR transactions, represents the outstanding balance held by third parties. For insurance/reinsurance transactions, represents the remaining aggregate limit of insurance purchased from third parties. For subordination, represents the outstanding UPB of the securities that are held by third parties and are subordinate to the securities we guarantee. (3) Amounts exclude certain loans for which we do not control servicing, as the coverage information for these loans is not readily available to us. (4) As of June 30, 2021 and December 31, 2020, substantially all of our counterparties posted sufficient collateral on our ACIS transactions to meet the minimum collateral requirements of the ACIS program, which are based on a combination of factors, including counterparty credit risk of the reinsurer and the structure and risk profile of the transaction. Multifamily Credit Enhancements The table below presents the UPB and maximum coverage related to our multifamily credit enhancements. Table 8.3 - Multifamily Credit Enhancements June 30, 2021 December 31, 2020 (In millions) Credit Enhancement Accounting Treatment UPB (1) Maximum Coverage (2) UPB (1) Maximum Coverage (2) Subordination: Nonconsolidated VIEs Guarantee $353,191 $44,306 $328,897 $42,799 Lender risk-sharing Freestanding 2,892 599 3,317 598 Insurance/reinsurance (3) Freestanding 5,344 189 5,383 190 SCR: Trust notes Freestanding 4,788 272 — — Debt notes Debt 2,139 107 2,217 111 Other Primarily debt 1,202 404 2,211 453 Total multifamily credit enhancements $45,877 $44,151 (1) Represents the current UPB of the assets included in the associated reference pool or securitization trust, as applicable. Underlying loans may be covered by more than one form of credit enhancement. Prior periods have been revised to conform to the current period presentation. (2) For subordination, represents the outstanding UPB of the securities that are held by third parties and are subordinate to the securities we guarantee. For insurance/reinsurance transactions, represents the remaining aggregate limit of insurance purchased from third parties. For SCR transactions, represents the outstanding balance held by third parties. Prior periods have been revised to conform to the current period presentation. (3) As of June 30, 2021 and December 31, 2020, the counterparties to our insurance/reinsurance transactions have complied with the minimum collateral requirements. Minimum collateral requirements are assessed on each deal based on a combination of factors, including counterparty credit risk of the reinsurer and the structure and risk profile of the transaction.

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	DebtThe table below summarizes the balances of total debt per our condensed consolidated balance sheets Table 9.1 - Total Debt (In millions) June 30, 2021 December 31, 2020 Debt securities of consolidated trusts held by third parties $2,575,653 $2,308,176 Debt of Freddie Mac: Short-term debt — 4,955 Long-term debt 227,102 279,415 Total Debt of Freddie Mac 227,102 284,370 Total debt $2,802,755 $2,592,546 As of June 30, 2021, our aggregate indebtedness was $230.6 billion, which was below the current $300.0 billion debt cap limit imposed by the Purchase Agreement. Our aggregate indebtedness calculation primarily includes the par value of 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 9.2 - Debt Securities of Consolidated Trusts Held by Third Parties June 30, 2021 December 31, 2020 (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 2021 - 2060 $1,990,165 $2,046,438 2.77 % 2021 - 2060 $1,799,065 $1,855,438 3.07 % 20-year fixed-rate 2021 - 2041 119,298 122,569 2.53 2021 - 2041 97,520 100,498 2.84 15-year fixed-rate 2021 - 2036 357,016 365,964 2.25 2021 - 2036 303,142 310,612 2.46 Adjustable-rate 2021 - 2051 20,531 20,996 2.48 2021 - 2051 23,964 24,484 2.76 Interest-only 2026 - 2051 3,144 3,277 2.57 2026 - 2041 3,671 3,736 3.15 FHA/VA 2021 - 2051 828 845 3.79 2021 - 2050 752 769 4.04 Total single-family 2,490,982 2,560,089 2,228,114 2,295,537 Multifamily 2021-2051 15,352 15,564 2.26 2021-2050 12,488 12,639 2.43 Total debt of consolidated trusts held by third parties $2,506,334 $2,575,653 $2,240,602 $2,308,176 (1) Includes $252 million and $205 million at June 30, 2021 and December 31, 2020, respectively, of debt securities of consolidated trusts that represents the fair value of debt for which the fair value option was elected. (2) The effective interest rate for debt securities of consolidated trusts held by third parties was 1.73% and 1.76% as of June 30, 2021 and December 31, 2020, respectively. Table 9.3 - Total Debt of Freddie Mac June 30, 2021 December 31, 2020 (Dollars in millions) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Short-term debt: Discount notes and Reference Bills $— $— — % $11 $11 0.69 % Medium-term notes — — — 4,944 4,944 1.31 Securities sold under agreements to repurchase (3) 4,620 4,620 (0.03) — — — Total short-term debt 4,620 4,620 (0.03) 4,955 4,955 1.31 Long-term debt: Original maturities on or before December 31, 2021 26,621 26,620 0.72 43,422 43,417 0.95 2022 55,228 55,247 0.72 61,071 61,092 0.68 2023 48,199 48,139 0.44 61,998 61,920 0.45 2024 16,389 16,367 0.49 21,679 21,651 0.61 2025 35,777 35,414 0.83 44,342 43,944 0.84 Thereafter 36,602 34,867 2.62 36,386 34,583 2.64 STACR and SCR debt (4) 11,660 11,496 4.19 12,488 12,342 4.18 Hedging-related basis adjustments N/A (1,048) N/A 466 Total long-term debt 230,476 227,102 1.13 281,386 279,415 1.09 Total debt of Freddie Mac (5) $235,096 $231,722 $286,341 $284,370 (1) Represents par value, net of associated discounts or premiums and issuance cost. Includes $1.8 billion and $2.4 billion at June 30, 2021 and December 31, 2020, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. (2) Based on carrying amount. (3) We offset payables related to securities sold under agreements to repurchase against receivables related to securities purchased under agreements to resell on our condensed consolidated balance sheets, when such amounts meet the conditions for offsetting in the accounting guidance. (4) 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. (5) Carrying amount for debt of Freddie Mac includes callable debt of $89.0 billion and $124.0 billion at June 30, 2021 and December 31, 2020, respectively.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2021
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 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 CFTC 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-, Treasury-, and SOFR-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, and commitments. Hedge Accounting 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. 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 10.1 - Derivative Assets and Liabilities at Fair Value June 30, 2021 December 31, 2020 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 risk management derivatives: Swaps $647,387 $2,082 ($5,132) $559,596 $2,639 ($7,091) Written options 31,654 — (1,331) 18,259 — (735) Purchased options (1) 236,105 4,395 — 169,995 5,265 — Futures 174,513 — — 181,702 — — Total interest-rate management derivatives 1,089,659 6,477 (6,463) 929,552 7,904 (7,826) Mortgage commitment derivatives: Forward contracts to purchase mortgage loans 11,857 23 (3) 37,122 183 — Forward contracts to purchase mortgage-related securities 32,396 79 (6) 45,185 203 — Forward contracts to sell mortgage-related securities 77,182 11 (201) 136,802 2 (759) Total mortgage commitment derivatives 121,435 113 (210) 219,109 388 (759) CRT-related derivatives 30,553 24 (38) 28,949 61 (47) Other 7,685 1 (24) 4,029 2 (16) Total derivatives not designated as hedges 1,249,332 6,615 (6,735) 1,181,639 8,355 (8,648) Designated as fair value hedges Interest-rate risk management derivatives: Swaps 153,002 109 (1,336) 180,686 224 (500) Total derivatives designated as fair value hedges 153,002 109 (1,336) 180,686 224 (500) Derivative interest receivable (payable) (2) 485 (463) 455 (523) Netting adjustments (3) (6,453) 8,027 (7,829) 8,717 Total derivative portfolio, net $1,402,334 $756 ($507) $1,362,325 $1,205 ($954) (1) Includes swaptions on credit indices with a notional or contractual amount of $11.5 billion and $16.8 billion at June 30, 2021 and December 31, 2020, respectively, and a fair value of $3.0 million and $9.0 million at June 30, 2021 and December 31, 2020, respectively. (2) Includes other derivative receivables and payables. (3) Represents counterparty netting and cash collateral netting. See Note 11 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 (loss) as investment gains (losses), net. Table 10.2 - Gains and Losses on Derivatives (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Not designated as hedges Interest-rate risk management derivatives: Swaps $1,039 $1,000 $1,654 ($3,863) Written options 305 55 (156) (265) Purchased options (586) (760) (634) 3,782 Futures (127) (120) 159 (2,448) Total interest-rate risk management derivatives fair value gains (losses) 631 175 1,023 (2,794) Mortgage commitment derivatives (860) (396) 616 (1,122) CRT-related derivatives 15 43 (27) 121 Other 11 6 8 37 Total derivatives not designated as hedges fair value gains (losses) (203) (172) 1,620 (3,758) Accrual of periodic cash settlements (1) (360) (329) (812) (505) Total ($563) ($501) $808 ($4,263) Fair Value Hedges The table below presents the effects of fair value hedge accounting by condensed consolidated statements of comprehensive income (loss) line item, 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 10.3 - Gains and Losses on Fair Value Hedges 2Q 2021 2Q 2020 (In millions) Interest Income Interest Expense Interest Income 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: $15,230 ($10,463) $15,716 ($12,840) Interest contracts on mortgage loans held-for-investment: Gain (loss) on fair value hedging relationships: Hedged items 1,086 — 670 — Derivatives designated as hedging instruments (1,097) — (474) — Interest accruals on hedging instruments (139) — (122) — Discontinued hedge-related basis adjustments amortization (511) — (695) — Interest contracts on debt: Gain (loss) on fair value hedging relationships: Hedged items — (600) — 37 Derivatives designated as hedging instruments — 568 — (81) Interest accruals on hedging instruments — 248 — 187 Discontinued hedge-related basis adjustments amortization — 3 — 17 YTD 2021 YTD 2020 (In millions) Interest Income Interest Expense Interest Income 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: $29,132 ($20,726) $33,308 ($27,647) Interest contracts on mortgage loans held-for-investment: Gain (loss) on fair value hedging relationships: Hedged items (437) — 5,563 — Derivatives designated as hedging instruments 437 — (5,554) — Interest accruals on hedging instruments (253) — (185) — Discontinued hedge-related basis adjustments amortization (1,292) — (948) — Interest contracts on debt: Gain (loss) on fair value hedging relationships: Hedged items — 1,514 — (468) Derivatives designated as hedging instruments — (1,620) — 473 Interest accruals on hedging instruments — 503 — 287 Discontinued hedge-related basis adjustments amortization — 8 — 37 Cumulative Basis Adjustments Due to Fair Value Hedging The table below presents the cumulative basis adjustments and the carrying amounts of the hedged item by its respective balance sheet line item. Table 10.4 - Cumulative Basis Adjustments Due to Fair Value Hedging June 30, 2021 Carrying Amount Assets / (Liabilities) Cumulative Amount of Fair Value Hedging Basis Adjustments Included in the Carrying Amount Closed Portfolio Under the Last-of-Layer Method (In millions) Total Under the Last-of-Layer Method Discontinued - Hedge Related Total Amount by Amortized Cost Basis Designated Amount by UPB Mortgage loans held-for-investment $693,011 $3,388 ($224) $3,612 $72,555 $3,019 Debt (146,969) 1,048 — (30) — — December 31, 2020 Carrying Amount Assets / (Liabilities) Cumulative Amount of Fair Value Hedging Basis Adjustments Included in the Carrying Amount Closed Portfolio Under the Last-of-Layer Method (In millions) Total Under the Last-of-Layer Method Discontinued - Hedge Related Total Amount by Amortized Cost Basis Designated Amount by UPB Mortgage loans held-for-investment $478,077 $5,117 ($318) $5,435 $220,301 $9,112 Debt (176,512) (466) — (38) — —

Collateral and Offsetting of As

Collateral and Offsetting of Assets and Liabilities	6 Months Ended
	Jun. 30, 2021
Offsetting [Abstract]
Collateralized Agreements and Offsetting Arrangements	Collateralized Agreements and Offsetting Arrangements Offsetting of Financial Assets and Liabilities We offset fair value amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against fair value amounts recognized for derivative instruments executed with the same counterparty under a master netting and collateral agreement. We also offset payables related to securities sold under agreements to repurchase against receivables related to securities purchased under agreements to resell when such amounts meet the conditions for balance sheet offsetting. The table below presents 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. Table 11.1 - Offsetting and Collateral Information of Financial Assets and Liabilities June 30, 2021 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 $6,955 ($5,088) ($1,405) $462 ($419) $43 Cleared and exchange-traded derivatives 116 (5) 45 156 — 156 Mortgage commitment derivatives 113 — — 113 — 113 Other 25 — — 25 — 25 Total derivatives 7,209 (5,093) (1,360) 756 (419) 337 Securities purchased under agreements to resell 118,317 (4,620) — 113,697 (113,697) — Total $125,526 ($9,713) ($1,360) $114,453 ($114,116) $337 Liabilities: Derivatives: OTC derivatives ($8,197) $5,088 $2,902 ($207) $— ($207) Cleared and exchange-traded derivatives (65) 5 32 (28) 28 — Mortgage commitment derivatives (210) — — (210) — (210) Other (62) — — (62) — (62) Total derivatives (8,534) 5,093 2,934 (507) 28 (479) Securities sold under agreements to repurchase (4,620) 4,620 — — — — Total ($13,154) $9,713 $2,934 ($507) $28 ($479) Referenced footnotes are included after the next table. December 31, 2020 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 $8,566 ($5,932) ($1,957) $677 ($648) $29 Cleared and exchange-traded derivatives 17 — 60 77 — 77 Mortgage commitment derivatives 388 — — 388 — 388 Other 63 — — 63 — 63 Total derivatives 9,034 (5,932) (1,897) 1,205 (648) 557 Securities purchased under agreements to resell 105,003 — — 105,003 (105,003) — Total $114,037 ($5,932) ($1,897) $106,208 ($105,651) $557 Liabilities: Derivatives: OTC derivatives ($8,812) $5,932 $2,759 ($121) $— ($121) Cleared and exchange-traded derivatives (37) — 26 (11) — (11) Mortgage commitment derivatives (759) — — (759) — (759) Other (63) — — (63) — (63) Total derivatives (9,671) 5,932 2,785 (954) — (954) Securities sold under agreements to repurchase — — — — — — Total ($9,671) $5,932 $2,785 ($954) $— ($954) (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. Collateral Pledged Collateral Pledged to Freddie Mac We have cash pledged to us as collateral primarily related to OTC derivative transactions. We had $1.8 billion and $2.8 billion pledged to us as collateral that was invested as part of our liquidity and contingency operating portfolio as of June 30, 2021 and December 31, 2020, respectively. 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 June 30, 2021, and December 31, 2020, we had $59.6 billion and $85.8 billion, respectively, of securities pledged to us in these transactions. In addition, at June 30, 2021 and December 31, 2020, we had $0.7 billion and $0.8 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. Collateral Pledged by Freddie Mac For cash collateral related to commitments and securities purchased under agreements to resell transactions primarily with central clearing organizations, we posted less than $0.1 billion cash collateral as of June 30, 2021 and $1.3 billion as of December 31, 2020. The table below summarizes 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 11.2 - Collateral in the Form of Securities Pledged June 30, 2021 (In millions) Derivatives Securities Sold Under Agreements to Repurchase Other (3) Total Cash equivalents (1) $— $569 $— $569 Debt securities of consolidated trusts (2) — — 335 335 Trading securities 1,888 4,054 1,536 7,478 Total securities pledged $1,888 $4,623 $1,871 $8,382 December 31, 2020 (In millions) Derivatives Securities Sold Under Agreements to Repurchase Other (3) Total Debt securities of consolidated trusts (2) $121 $— $345 $466 Trading securities 1,920 — 1,163 3,083 Total securities pledged $2,041 $— $1,508 $3,549 (1) Represents U.S. Treasury securities accounted for as cash equivalents. (2) Represents debt securities of consolidated trusts held by us in our mortgage-related 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 11.3 - Underlying Collateral Pledged June 30, 2021 (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 $2,875 $1,748 $— $— $4,623

Stockholders' Equity and Earnin

Stockholders' Equity and Earnings per Share	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Earnings per Share	Stockholders' Equity and Earnings Per Share Accumulated Other Comprehensive Income Table 12.1 - Changes in AOCI by Component, Net of Taxes 2Q 2021 (In millions) AOCI Related AOCI Related AOCI Related Total Beginning balance $415 ($196) $35 $254 Other comprehensive income before reclassifications 6 — — 6 Amounts reclassified from accumulated other comprehensive income (79) 8 (3) (74) Changes in AOCI by component (73) 8 (3) (68) Ending balance $342 ($188) $32 $186 YTD 2021 (In millions) AOCI Related AOCI Related AOCI Related Total Beginning balance $810 ($206) $39 $643 Other comprehensive income before reclassifications (99) — (1) (100) Amounts reclassified from accumulated other comprehensive income (369) 18 (6) (357) Changes in AOCI by component (468) 18 (7) (457) Ending balance $342 ($188) $32 $186 2Q 2020 (In millions) AOCI Related AOCI Related AOCI Related Total Beginning balance $1,056 ($231) $62 $887 Other comprehensive income before reclassifications 160 — — 160 Amounts reclassified from accumulated other comprehensive income (6) 11 (4) 1 Changes in AOCI by component 154 11 (4) 161 Ending balance $1,210 ($220) $58 $1,048 YTD 2020 (In millions) AOCI Related AOCI Related AOCI Related Total Beginning balance $618 ($244) $64 $438 Other comprehensive income before reclassifications 606 — 2 608 Amounts reclassified from accumulated other comprehensive income (14) 24 (8) 2 Changes in AOCI by component 592 24 (6) 610 Ending balance $1,210 ($220) $58 $1,048 Reclassifications from AOCI to Net Income The table below presents reclassifications from AOCI to net income, including the affected line items in our condensed consolidated statements of comprehensive income (loss). Table 12.2 - Reclassifications from AOCI to Net Income (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 AOCI related to available-for-sale securities Affected line items on the condensed consolidated statements of comprehensive income (loss): Investment gains (losses), net $99 $7 $467 $17 Income tax (expense) benefit (20) (1) (98) (3) Net of tax 79 6 369 14 AOCI related to cash flow hedge relationships Affected line items on the condensed consolidated statements of comprehensive income (loss): Interest expense (10) (14) (21) (30) Income tax (expense) benefit 2 3 3 6 Net of tax (8) (11) (18) (24) AOCI related to defined benefit plans Affected line items on the condensed consolidated statements of comprehensive income (loss): Salaries and employee benefits 4 5 8 10 Income tax (expense) benefit (1) (1) (2) (2) Net of tax 3 4 6 8 Total reclassifications in the period, net of tax $74 ($1) $357 ($2) Senior Preferred Stock As a result of changes to the terms of the senior preferred stock pursuant to the January 2021 Letter Agreement, the company will not be required to pay a dividend to Treasury until we have built sufficient capital to meet the capital requirements and buffers set forth in the ERCF. Accordingly, the company was not required to pay a dividend to Treasury on the senior preferred stock in June 2021. As the company builds capital during this period, the quarterly increases in our Net Worth Amount have been, and will continue to be, added to the aggregate liquidation preference of the senior preferred stock. As a result, the liquidation preference of the senior preferred stock increased from $89.1 billion as of March 31, 2021 to $91.4 billion on June 30, 2021 based on the $2.4 billion increase in the Net Worth Amount during 1Q 2021. The liquidation preference will increase to $95.0 billion on September 30, 2021 based on the $3.6 billion increase in our Net Worth Amount during 2Q 2021. See Note 2 for additional information. As of June 30, 2021, our assets exceeded our liabilities under GAAP; therefore, no draw is being requested from Treasury under the Purchase Agreement. The table below provides a summary of our senior preferred stock outstanding at June 30, 2021 . Table 12.3 - Senior Preferred Stock ( In millions , except initial liquidation preference price per share) Shares Shares Total Initial Total Non-draw Adjustment Dates: September 8, 2008 1.00 1.00 $1.00 $1,000 $1,000 December 31, 2017 — — — N/A 3,000 September 30, 2019 — — — N/A 1,826 December 31, 2019 — — — N/A 1,848 March 31, 2020 — — — N/A 2,448 June 30, 2020 — — — N/A 382 September 30, 2020 — — — N/A 1,938 December 31, 2020 — — — N/A 2,449 March 31, 2021 — — — N/A 2,522 June 30, 2021 — — — N/A 2,378 Total non-draw adjustments 1.00 1.00 1.00 19,791 Draw Dates: November 24, 2008 — — — N/A 13,800 March 31, 2009 — — — N/A 30,800 June 30, 2009 — — — N/A 6,100 June 30, 2010 — — — N/A 10,600 September 30, 2010 — — — N/A 1,800 December 30, 2010 — — — N/A 100 March 31, 2011 — — — N/A 500 September 30, 2011 — — — N/A 1,479 December 30, 2011 — — — N/A 5,992 March 30, 2012 — — — N/A 146 June 29, 2012 — — — N/A 19 March 30, 2018 — — — N/A 312 Total draw adjustments — — — 71,648 Total senior preferred stock 1.00 1.00 $1.00 $91,439 Stock Issuances and Repurchases We did not repurchase or issue any of our common shares or non-cumulative preferred stock during YTD 2021, except for issuances of treasury stock related to stock based compensation granted prior to conservatorship. Dividends and Dividend Restrictions No common dividends were declared during YTD 2021. As a result of the increase in the applicable Capital Reserve Amount pursuant to the January 2021 Letter Agreement, we did not declare or pay a dividend on the senior preferred stock during YTD 2021. We also did not declare or pay dividends on any other series of Freddie Mac preferred stock outstanding during YTD 2021. 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 13 in our 2020 Annual Report.

Net Interest Income

Net Interest Income	6 Months Ended
	Jun. 30, 2021
Components of Net Interest Income [Abstract]
Net Interest Income	The table below presents the components of net interest income per our condensed consolidated statements of comprehensive income (loss). Table 13.1 - Components of Net Interest Income (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Interest income Mortgage loans $14,590 $15,026 $27,845 $31,658 Investment securities 617 637 1,227 1,289 Other 23 53 60 361 Total interest income 15,230 15,716 29,132 33,308 Interest expense Debt securities of consolidated trusts held by third parties (10,032) (11,975) (19,788) (25,422) Debt of Freddie Mac: Short-term debt — (130) (2) (560) Long-term debt (431) (735) (936) (1,665) Total interest expense (10,463) (12,840) (20,726) (27,647) Net interest income 4,767 2,876 8,406 5,661 Benefit (provision) for credit losses 740 (705) 936 (1,938) Net interest income after benefit (provision) for credit losses $5,507 $2,171 $9,342 $3,723

Investment Gains (Losses), Net

Investment Gains (Losses), Net	6 Months Ended
	Jun. 30, 2021
Investment Gains (Losses), Net [Abstract]
Investment Gains (Losses), Net	The table below presents the components of investment gains (losses), net on our condensed consolidated statements of comprehensive income (loss). Table 14.1 - Components of Investment Gains (Losses), Net (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Investment gains (losses), net: Mortgage loans gains (losses) $1,511 $1,046 $1,717 $2,218 Investment securities gains (losses) (330) 65 (837) 1,120 Debt gains (losses) 18 60 156 760 Derivative gains (losses) (563) (501) 808 (4,263) Investment gains (losses), net $636 $670 $1,844 ($165)

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting During 1Q 2021, our chief operating decision maker began making decisions about allocating resources and assessing segment performance based on two reportable segments, Single-family and Multifamily. In prior periods, we managed our business based on three reportable segments, Single-family Guarantee, Multifamily, and Capital Markets. As our mortgage-related investments portfolio has declined over time, our capital markets activities have become increasingly focused on supporting our single-family and multifamily businesses. As a result, we determined that, effective in 1Q 2021, our Capital Markets segment should no longer be considered a separate reportable segment, and our chief operating decision maker no longer reviews separate financial results or discrete financial information for our capital markets activities. Substantially all of the revenues and expenses that were previously directly attributable to our Capital Markets segment are now included in our Single-family segment, while certain administrative expenses and other centrally-incurred costs previously allocated to the Capital Markets segment are now allocated between the Single-family and Multifamily segments using various methodologies depending on the nature of the expense. In connection with this change, we also changed the measure of segment profit and loss for each segment to be based on net income and comprehensive income calculated using the same accounting policies we use to prepare our general purpose financial statements in conformity with generally accepted accounting principles. The financial results of each reportable segment include directly attributable revenue and expenses. We allocate interest expense and other debt funding and hedging-related costs to each reportable segment using a funds transfer pricing process. We fully allocate to each reportable segment the administrative expenses and other centrally-incurred costs that are not directly attributable to a particular segment using various methodologies depending on the nature of the expense. As a result, the sum of each income statement line item for the two reportable segments is equal to that same income statement line item for the consolidated entity. We have discontinued the reclassifications of certain activities between various line items that were included in our previous measure of segment profit and loss. Prior period information has been revised to conform to the current period presentation. Segment Description Single-family Reflects results from our purchase, sale, securitization, and guarantee of single-family loans and securities, our investments in those loans and securities, the management of single-family mortgage credit risk and market risk, and any results of our treasury function that are not allocated to each segment. Multifamily Reflects results from our purchase, sale, securitization, and guarantee of multifamily loans and securities, our investments in those loans and securities, and the management of multifamily mortgage credit risk and market risk. Segment Allocations and Results The results of each reportable segment include directly attributable revenues and expenses. We allocate interest expense and other debt funding and hedging-related costs to each reportable segment using a funds transfer pricing process. We fully allocate to each reportable segment administrative expenses and other centrally-incurred costs that are not directly attributable to a particular segment using various methodologies depending on the nature of the expense. The table below presents the financial results for our Single-family and Multifamily segments. Table 15.1 - Segment Financial Results 2Q 2021 Single-family Multifamily Total (In millions) Net interest income $4,460 $307 $4,767 Non-interest income (loss) Guarantee income 10 346 356 Investment gains (losses), net 137 499 636 Other income (loss) 108 (1) 107 Non-interest income (loss) 255 844 1,099 Net revenues 4,715 1,151 5,866 Benefit (provision) for credit losses 686 54 740 Non-interest expense Administrative expense (503) (148) (651) Credit enhancement expense (361) (8) (369) Benefit for (decrease in) credit enhancement recoveries (190) (3) (193) REO operations expense (7) — (7) Temporary Payroll Tax Cut Continuation Act of 2011 expense (570) — (570) Other expense (172) (7) (179) Non-interest expense (1,803) (166) (1,969) Income (loss) before income tax (expense) benefit 3,598 1,039 4,637 Income tax (expense) benefit (743) (215) (958) Net income (loss) 2,855 824 3,679 Other comprehensive income (loss), net of taxes and reclassification adjustments Changes in unrealized gains (losses) related to available-for-sale securities (79) 6 (73) Changes in unrealized gains (losses) related to cash flow hedge relationships 8 — 8 Changes in defined benefit plans (3) — (3) Total other comprehensive income (loss), net of taxes and reclassification adjustments (74) 6 (68) Comprehensive income (loss) $2,781 $830 $3,611 YTD 2021 Single-family Multifamily Total (In millions) Net interest income $7,768 $638 $8,406 Non-interest income (loss) Guarantee income 99 505 604 Investment gains (losses), net 437 1,407 1,844 Other income (loss) 260 25 285 Non-interest income (loss) 796 1,937 2,733 Net revenues 8,564 2,575 11,139 Benefit (provision) for credit losses 832 104 936 Non-interest expense Administrative expense (991) (299) (1,290) Credit enhancement expense (686) (18) (704) Benefit for (decrease in) credit enhancement recoveries (435) (15) (450) REO operations expense (15) — (15) Temporary Payroll Tax Cut Continuation Act of 2011 expense (1,104) — (1,104) Other expense (381) (13) (394) Non-interest expense (3,612) (345) (3,957) Income (loss) before income tax (expense) benefit 5,784 2,334 8,118 Income tax (expense) benefit (1,191) (481) (1,672) Net income (loss) 4,593 1,853 6,446 Other comprehensive income (loss), net of taxes and reclassification adjustments Changes in unrealized gains (losses) related to available-for-sale securities (414) (54) (468) Changes in unrealized gains (losses) related to cash flow hedge relationships 18 — 18 Changes in defined benefit plans (6) (1) (7) Total other comprehensive income (loss), net of taxes and reclassification adjustments (402) (55) (457) Comprehensive income (loss) $4,191 $1,798 $5,989 2Q 2020 Single-family Multifamily Total (In millions) Net interest income $2,590 $286 $2,876 Non-interest income (loss) Guarantee income 55 414 469 Investment gains (losses), net (61) 731 670 Other income (loss) 83 51 134 Non-interest income (loss) 77 1,196 1,273 Net revenues 2,667 1,482 4,149 Benefit (provision) for credit losses (624) (81) (705) Non-interest expense Administrative expense (477) (124) (601) Credit enhancement expense (228) (5) (233) Benefit for (decrease in) credit enhancement recoveries 219 2 221 REO operations expense (14) — (14) Temporary Payroll Tax Cut Continuation Act of 2011 expense (442) — (442) Other expense (131) (9) (140) Non-interest expense (1,073) (136) (1,209) Income (loss) before income tax (expense) benefit 970 1,265 2,235 Income tax (expense) benefit (198) (260) (458) Net income (loss) 772 1,005 1,777 Other comprehensive income (loss), net of taxes and reclassification adjustments Changes in unrealized gains (losses) related to available-for-sale securities 95 59 154 Changes in unrealized gains (losses) related to cash flow hedge relationships 11 — 11 Changes in defined benefit plans (3) (1) (4) Total other comprehensive income (loss), net of taxes and reclassification adjustments 103 58 161 Comprehensive income (loss) $875 $1,063 $1,938 YTD 2020 Single-family Multifamily Total (In millions) Net interest income $5,075 $586 $5,661 Non-interest income (loss) Guarantee income 42 804 846 Investment gains (losses), net (37) (128) (165) Other income (loss) 141 88 229 Non-interest income (loss) 146 764 910 Net revenues 5,221 1,350 6,571 Benefit (provision) for credit losses (1,790) (148) (1,938) Non-interest expense Administrative expense (944) (244) (1,188) Credit enhancement expense (455) (9) (464) Benefit for (decrease in) credit enhancement recoveries 658 30 688 REO operations expense (99) — (99) Temporary Payroll Tax Cut Continuation Act of 2011 expense (874) — (874) Other expense (229) (14) (243) Non-interest expense (1,943) (237) (2,180) Income (loss) before income tax (expense) benefit 1,488 965 2,453 Income tax (expense) benefit (305) (198) (503) Net income (loss) 1,183 767 1,950 Other comprehensive income (loss), net of taxes and reclassification adjustments Changes in unrealized gains (losses) related to available-for-sale securities 469 123 592 Changes in unrealized gains (losses) related to cash flow hedge relationships 24 — 24 Changes in defined benefit plans (5) (1) (6) Total other comprehensive income (loss), net of taxes and reclassification adjustments 488 122 610 Comprehensive income (loss) $1,671 $889 $2,560 We measure total assets for our reportable segments based on the mortgage portfolio for each segment. We operate our business in the U.S. 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 U.S. and its territories. The table below presents total assets for our Single-family and Multifamily segments. Table 15.2 - Segment Assets (In millions) June 30, 2021 December 31, 2020 Single-family $2,563,589 $2,326,426 Multifamily 398,427 388,347 Total segment assets 2,962,016 2,714,773 Reconciling items (1) (119,874) (87,358) Total assets per condensed consolidated balance sheets $2,842,142 $2,627,415

Concentration of Credit and Oth

Concentration of Credit and Other Risks	6 Months Ended
	Jun. 30, 2021
Risks and Uncertainties [Abstract]
Concentration of Credit and Other Risks	Concentration of Credit and Other Risks Single-Family Mortgage Portfolio The table below summarizes the concentration by loan portfolio and geographic area of the approximately $2.6 trillion and $2.3 trillion UPB of our single-family mortgage portfolio as of June 30, 2021 and December 31, 2020, respectively. See Note 4, Note 6, and Note 7 for more information about credit risk associated with loans and mortgage-related securities that we hold or guarantee. Table 16.1 - Concentration of Credit Risk of Our Single-Family Mortgage Portfolio June 30, 2021 December 31, 2020 YTD 2021 (1) YTD 2020 (1) (Dollars in billions) Portfolio UPB (2) % of Portfolio SDQ Rate Portfolio UPB (2) % of Portfolio SDQ Rate Credit Losses Amount % of Credit Losses (3) Credit Losses Amount % of Credit Losses Region: (4) West $800 31 % 1.65 % $720 31 % 2.41 % $— NM $— 6 % Northeast 608 24 2.30 549 24 3.16 — NM 0.1 38 North Central 385 15 1.52 357 15 2.06 — NM 0.1 27 Southeast 412 16 2.02 375 16 2.95 — NM 0.1 20 Southwest 358 14 1.82 325 14 2.59 — NM — 9 Total $2,563 100 % 1.86 $2,326 100 % 2.64 $— NM $0.3 100 % State: California $472 19 % 1.80 $424 18 % 2.64 $— NM $— 4 % Texas 158 6 2.13 145 6 3.11 — NM — 3 Florida 149 6 2.42 135 6 3.70 — NM — 11 New York 111 4 3.43 103 4 4.56 — NM — 10 Illinois 102 4 2.34 96 4 2.96 — NM 0.1 14 All other 1,571 61 1.66 1,423 62 2.34 — NM 0.2 58 Total $2,563 100 % 1.86 $2,326 100 % 2.64 $— NM $0.3 100 % (1) Excludes credit losses related to charge-offs of accrued interest receivables. (2) Excludes $476 million and $505 million in UPB of loans underlying certain securitization products for which data was not available as of June 30, 2021 and December 31, 2020, respectively. (3) NM - not meaningful due to the credit losses amount rounding to zero. (4) 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). 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 mortgage portfolio. The table presents each higher-risk category in isolation. A single loan may fall within more than one category (for example, a loan with an original LTV ratio greater than 90% may also have a credit score at origination less than 620). Loans with a combination of these attributes will have an even higher risk of delinquency than those with an individual attribute. Table 16.2 - Certain Higher Risk Categories in Our Single-Family Mortgage Portfolio % of Portfolio (1) SDQ Rate (1) (% of portfolio based on UPB) June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Alt-A 1 % 1 % 9.07 % 10.66 % Original LTV ratio greater than 90% (2) 13 15 3.31 4.25 Lower credit scores at origination (less than 620) 1 1 9.45 11.00 (1) Excludes $476 million and $505 million in UPB of loans underlying certain securitization products for which data was not available as of June 30, 2021 and December 31, 2020, respectively. (2) Includes HARP loans, which we purchased as part of our participation in the MHA Program. Sellers and Servicers We acquire a significant portion of our single-family and multifamily loan purchase and guarantee volume from several large sellers. Single-family top 10 sellers provided 49% and 46% of our purchase and guarantee volume during YTD 2021 and YTD 2020, respectively. None of our single-family sellers provided 10% or more of our purchase and guarantee volume during these periods. The table below summarizes the concentration of multifamily sellers who provided 10% or more of our purchase and guarantee volume. Table 16.3 - Multifamily Seller Concentration Multifamily Sellers YTD 2021 YTD 2020 Berkadia Commercial Mortgage LLC 15 % 15 % CBRE Capital Markets, Inc. 15 14 Other top 10 sellers 50 48 Top 10 multifamily sellers 80 % 77 % We purchase single-family loans from both depository and non-depository sellers. Non-depository institutions may not have the same financial strength or operational capacity, or be subject to the same level of regulatory oversight, as large depository institutions. Our top five non-depository sellers provided approximately 29% and 24% of our single-family purchase volume during YTD 2021 and YTD 2020, respectively. Significant portions of our single-family and multifamily loans are serviced by several large servicers. The table below summarizes the concentration of single-family and multifamily servicers who serviced 10% or more of our single-family mortgage portfolio and multifamily mortgage portfolio as of June 30, 2021 or December 31, 2020. Table 16.4 - Servicer Concentration Single-family Servicers June 30, 2021 (1) December 31, 2020 (1) Wells Fargo Bank, N.A. 9 % 11 % Other top 10 servicers 38 38 Top 10 single-family servicers 47 % 49 % Multifamily Servicers (2) June 30, 2021 December 31, 2020 CBRE Capital Markets, Inc. 16 % 17 % Berkadia Commercial Mortgage LLC 13 13 JLL Real Estate Capital LLC 11 11 Other top 10 servicers 41 39 Top 10 multifamily servicers 81 % 80 % (1) Percentage of servicing volume is based on the total single-family mortgage portfolio, which includes loans where we do not exercise servicing control. However, loans where we do not control servicing are not included for purposes of determining the concentration of servicers who serviced more than 10% of our single-family mortgage portfolio. (2) Represents multifamily primary servicers. Single-family loans utilize both depository and 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 June 30, 2021 and December 31, 2020, approximately 19% and 18%, respectively, of our single-family mortgage portfolio, excluding loans for which we do not exercise control over the associated servicing, was serviced by our five largest non-depository servicers, on a combined basis. We routinely monitor the performance of our largest non-depository servicers. Multifamily loans utilize both primary and master servicers. Primary servicers service unsecuritized mortgage loans and are also typically engaged by master servicers to service on their behalf the mortgage loans underlying securitizations. For a majority of our K Certificate securitizations, we utilize one of three large financial depository institutions as master servicer. For SB Certificate securitizations and a smaller number of K Certificate securitizations, we serve as master servicer. Multifamily primary servicers included in the table above present potential operational risk and impact to the borrowers if the servicing needs to be transferred to another servicer. We also rely on master servicers of our multifamily securitization transactions to advance funds in the event of payment shortfalls, including principal and interest payments related to loans in forbearance. In instances where payment shortfalls occur, the master servicer is required to make advances as long as such advances have not been deemed unrecoverable. For multifamily loans purchased and held in our mortgage-related investments portfolio, the primary servicers are not required to advance funds in the event of payment shortfalls and therefore do not present significant counterparty credit risk. 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 and other insurance transactions where we purchase insurance policies as part of our CRT activities. See Note 8 for additional information on our credit enhancements. We evaluate the recovery and collectability from mortgage insurers as part of the estimate of our allowance for credit losses. See Note 7 for additional information. As of June 30, 2021, mortgage insurers provided coverage with maximum credit loss of $123.0 billion, for $501.8 billion of UPB, in connection with our single-family mortgage 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 other types of insurance. Changes in our expectations related to recovery and collectability from our credit enhancement providers may affect our estimates of expected credit losses, perhaps significantly. 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. ("Genworth") announced that it had entered into an agreement to be acquired by China Oceanwide Holdings Group Co., Ltd. ("Oceanwide"). Because Genworth Mortgage Insurance Corporation, a subsidiary of Genworth, is an approved mortgage insurer, Freddie Mac evaluated the planned acquisition and approved Oceanwide's control of Genworth Mortgage Insurance Corporation. On April 6, 2021, Genworth announced that it had terminated its merger agreement with Oceanwide. Table 16.5 - Mortgage Insurer Concentration Mortgage Insurance Coverage (2) Mortgage Insurer Credit Rating (1) June 30, 2021 December 31, 2020 Arch Mortgage Insurance Company A 20 % 20 % Mortgage Guaranty Insurance Corporation BBB+ 19 18 Radian Guaranty Inc. BBB+ 18 19 Essent Guaranty, Inc. BBB+ 15 16 Genworth Mortgage Insurance Corporation BB+ 15 15 National Mortgage Insurance Corporation BBB 12 10 Total 99 % 98 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Latest rating available as of June 30, 2021. Represents the lower of S&P and Moody’s credit ratings stated in terms of the S&P equivalent. (2) Coverage amounts exclude coverage related to IMAGIN and certain loans for which we do not control servicing, and may include coverage provided by affiliates and subsidiaries of the counterparty. 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 June 30, 2021 and December 31, 2020, we had cumulative unpaid deferred payment obligations of $0.4 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 insurance/reinsurance 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 June 30, 2021 and December 31, 2020, including amounts related to our consolidated VIEs, the balance in our other investments portfolio was $171.0 billion and $163.1 billion, respectively. The balances consist primarily of cash, securities purchased under agreements to resell invested with counterparties, U.S. Treasury securities, cash deposited with the Federal Reserve Bank of New York, and secured lending activities. As of June 30, 2021, all of our securities purchased under agreements to resell were fully collateralized. As of June 30, 2021 and December 31, 2020, $0.7 billion and $0.8 billion, respectively, 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	6 Months Ended
	Jun. 30, 2021
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 table below presents 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 17.1 - Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2021 (In millions) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Assets: Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $— $3,092 $476 $— $3,568 Non-agency and other — 1 998 — 999 Total available-for-sale securities, at fair value — 3,093 1,474 — 4,567 Trading, at fair value: Mortgage-related securities: Agency — 18,185 3,523 — 21,708 Non-mortgage-related securities 32,269 1,014 — — 33,283 Total trading securities, at fair value 32,269 19,199 3,523 — 54,991 Total investments in securities 32,269 22,292 4,997 — 59,558 Mortgage loans: Held-for-sale, at fair value — 6,811 — — 6,811 Derivative assets, net 17 6,682 25 — 6,724 Netting adjustments (1) — — — (5,968) (5,968) Total derivative assets, net 17 6,682 25 (5,968) 756 Other assets: Guarantee assets, at fair value — — 5,869 — 5,869 Non-derivative held-for-sale purchase commitments, at fair value — 141 — — 141 All other, at fair value — — 70 — 70 Total other assets — 141 5,939 — 6,080 Total assets carried at fair value on a recurring basis $32,286 $35,926 $10,961 ($5,968) $73,205 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $1 $251 $— $252 Debt of Freddie Mac, at fair value — 1,704 117 — 1,821 Derivative liabilities, net — 8,048 23 — 8,071 Netting adjustments (1) — — — (7,564) (7,564) Total derivative liabilities, net — 8,048 23 (7,564) 507 Total liabilities carried at fair value on a recurring basis $— $9,753 $391 ($7,564) $2,580 Referenced footnote is included after the prior period table. December 31, 2020 (In millions) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Assets: Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $— $13,778 $526 $— $14,304 Non-agency and other — 1 1,062 — 1,063 Total available-for-sale securities, at fair value — 13,779 1,588 — 15,367 Trading, at fair value: Mortgage-related securities: Agency — 14,246 3,258 — 17,504 Non-agency — — 1 — 1 Total mortgage-related securities — 14,246 3,259 — 17,505 Non-mortgage-related securities 26,255 698 — — 26,953 Total trading securities, at fair value 26,255 14,944 3,259 — 44,458 Total investments in securities 26,255 28,723 4,847 — 59,825 Mortgage loans: Held-for-sale, at fair value — 14,199 — — 14,199 Derivative assets, net — 8,516 63 — 8,579 Netting adjustments (1) — — — (7,374) (7,374) Total derivative assets, net — 8,516 63 (7,374) 1,205 Other assets: Guarantee assets, at fair value — — 5,509 — 5,509 Non-derivative held-for-sale purchase commitments, at fair value — 158 — — 158 All other, at fair value — — 108 — 108 Total other assets — 158 5,617 — 5,775 Total assets carried at fair value on a recurring basis $26,255 $51,596 $10,527 ($7,374) $81,004 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $2 $203 $— $205 Debt of Freddie Mac, at fair value — 2,267 120 — 2,387 Derivative liabilities, net — 9,132 16 — 9,148 Netting adjustments (1) — — — (8,194) (8,194) Total derivative liabilities, net — 9,132 16 (8,194) 954 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 1 — — 1 All other, at fair value — — 3 — 3 Total other liabilities — 1 3 — 4 Total liabilities carried at fair value on a recurring basis $— $11,402 $342 ($8,194) $3,550 (1) Represents counterparty netting, cash collateral netting, and net derivative interest receivable or payable. Level 3 Fair Value Measurements The table below presents 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 table also presents gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized on our condensed consolidated statements of comprehensive income (loss) for Level 3 assets and liabilities. Table 17.2 - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs 2Q 2021 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $801 $— $1 $— $— ($296) ($30) $— $— $476 $— $— Non-agency and other 1,035 5 8 — — — (50) — — 998 6 7 Total available-for-sale mortgage-related securities 1,836 5 9 — — (296) (80) — — 1,474 6 7 Trading, at fair value: Mortgage-related securities: Agency 3,061 (170) — 737 — — (23) — (82) 3,523 (177) — Non-agency 1 (1) — — — — — — — — — — Total trading mortgage-related securities 3,062 (171) — 737 — — (23) — (82) 3,523 (177) — Derivative assets 30 (5) — — — — — — — 25 (5) — Other assets: Guarantee assets 5,688 5 — — 416 — (240) — — 5,869 48 — All other, at fair value 115 (39) — 5 4 (9) (6) — — 70 (39) — Total other assets 5,803 (34) — 5 420 (9) (246) — — 5,939 9 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $260 ($13) $— $— $35 $— ($31) $— $— $251 ($12) $— Debt of Freddie Mac, at fair value 120 (3) — — — — — — — 117 (2) — Derivative liabilities 34 (8) — — — — (3) — — 23 (11) — All other, at fair value — (1) — 1 — — — — — — (1) — Referenced footnotes are included after the prior period table. YTD 2021 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $526 $— ($5) $— $— $— ($45) $— $— $476 $— ($4) Non-agency and other 1,062 12 9 — — — (85) — — 998 12 7 Total available-for-sale mortgage-related securities 1,588 12 4 — — — (130) — — 1,474 12 3 Trading, at fair value: Mortgage-related securities: Agency 3,258 (355) — 1,112 — (269) (43) — (180) 3,523 (364) — Non-agency 1 (1) — — — — — — — — — — Total trading mortgage-related securities 3,259 (356) — 1,112 — (269) (43) — (180) 3,523 (364) — Derivative assets 63 (38) — — — — — — — 25 (38) — Other assets: Guarantee asset 5,509 (83) — — 905 — (462) — — 5,869 (79) — All other, at fair value 108 (29) — 1 10 (9) (11) — — 70 (29) — Total other assets 5,617 (112) — 1 915 (9) (473) — — 5,939 (108) — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $203 ($10) $— $— $88 $— ($30) $— $— $251 ($8) $— Other debt, at fair value 120 — — — 1 — (4) — — 117 — — Derivative liabilities 16 11 — — 2 — (6) — — 23 5 — All other, at fair value 3 (5) — 2 — — — — — — (5) — 2Q 2020 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $650 $— $8 $197 $— ($10) ($31) $— $— $814 $— $6 Non-agency and other 1,101 4 41 — — — (40) — — 1,106 4 32 Total available-for-sale mortgage-related securities 1,751 4 49 197 — (10) (71) — — 1,920 4 38 Trading, at fair value: Mortgage-related securities: Agency 2,544 (53) — 742 — (170) (11) — — 3,052 (49) — Non-agency 1 — — — — — — — — 1 — — Total trading mortgage-related securities 2,545 (53) — 742 — (170) (11) — — 3,053 (49) — Derivative assets 63 (1) — — — — — — — 62 51 — Other assets: Guarantee assets 4,565 163 — — 289 — (193) — — 4,824 163 — All other, at fair value 106 (3) — (6) 6 — 11 — — 114 (3) — Total other assets 4,671 160 — (6) 295 — (182) — — 4,938 160 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $199 $3 $— $— $— $— $— $— $— $202 $3 $— Debt of Freddie Mac, at fair value 151 1 — — 1 — (7) — (23) 123 1 — Derivative liabilities 24 (5) — — — — (2) — — 17 (28) — All other, at fair value 1 — — — — — — — — 1 — — YTD 2020 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $1,960 $12 $46 $197 $— ($218) ($88) $— ($1,095) $814 $— $4 Non-agency and other 1,267 7 (86) — — — (82) — — 1,106 7 (68) Total available-for-sale mortgage-related securities 3,227 19 (40) 197 — (218) (170) — (1,095) 1,920 7 (64) Trading, at fair value: Mortgage-related securities: Agency 2,709 (37) — 923 — (104) (42) — (397) 3,052 (44) — Non-agency 1 — — — — — — — — 1 — — Total trading mortgage-related securities 2,710 (37) — 923 — (104) (42) — (397) 3,053 (44) — Derivative assets 16 45 — — 1 — — — — 62 45 — Other assets: Guarantee asset 4,426 262 — — 512 — (376) — — 4,824 262 — All other, at fair value 120 (11) — (6) 12 (8) 7 — — 114 (11) — Total other assets 4,546 251 — (6) 524 (8) (369) — — 4,938 251 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $203 ($1) $— $— $— $— $— $— $— $202 ($1) $— Other debt, at fair value 129 — — — 2 — (8) — — 123 — — Derivative liabilities 37 (14) — — 2 — (8) — — 17 (22) — All other, at fair value 1 — — — — — — — — 1 — — (1) Transfers out of Level 3 during 2Q 2021, YTD 2021, 2Q 2020, and YTD 2020 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. (2) 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 June 30, 2021 and June 30, 2020, respectively. This amount includes any allowance for credit losses recorded on available-for-sale securities and amortization of basis adjustments. The table below provides 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 17.3 - Quantitative Information about Recurring Level 3 Fair Value Measurements June 30, 2021 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions , except for certain unobservable inputs as shown) Type Range Weighted Average (2) Assets Available-for-sale, at fair value Mortgage-related securities Agency $379 Discounted cash flows OAS 89 - 89 bps 89 bps 97 Other Non-agency and other 855 Median of external sources External pricing sources $66.4 - $79.5 $72.4 143 Other Trading, at fair value Mortgage-related securities Agency 2,879 Single external source External pricing sources $0.0 - $7,971.4 $596.0 644 Other Guarantee assets, at fair value 5,455 Discounted cash flows OAS 17 - 186 bps 45 bps 414 Other Insignificant Level 3 assets (1) 95 Total level 3 assets $10,961 Liabilities Debt securities of consolidated trusts held by third parties, at fair value $172 Single external source External pricing sources $99.9 - $106.9 $102.1 79 Other Insignificant Level 3 liabilities (1) 140 Total level 3 liabilities $391 Referenced footnotes are included after the next table. December 31, 2020 Level 3 Predominant Unobservable Inputs (Dollars in millions, except for certain unobservable inputs as shown) Type Range Weighted Average (2) Assets Available-for-sale, at fair value Mortgage-related securities Agency $410 Discounted cash flows OAS 90 - 90 bps 90 bps 116 Other Non-agency and other 875 Median of external sources External pricing sources $67.1 - $79.1 $72.8 187 Other Trading, at fair value Mortgage-related securities Agency 2,204 Single external source External pricing sources $0.0 - $8,894.6 $947.8 472 Discounted cash flows OAS (951) - 2,910 bps 834 bps 583 Other Guarantee assets, at fair value 5,195 Discounted cash flows OAS 15 - 186 bps 38 bps 314 Other Insignificant Level 3 assets (1) 171 Total level 3 assets $10,527 Liabilities Debt securities of consolidated trusts held by third parties, at fair value $203 Single external source External pricing sources $97.3 - $107.0 $101.7 Insignificant Level 3 liabilities (1) 139 Total level 3 liabilities $342 (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. (2) Unobservable inputs were weighted primarily by the relative fair value of the financial instruments. 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. 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 17.4 - Assets Measured at Fair Value on a Non-Recurring Basis June 30, 2021 December 31, 2020 (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) $— $32 $1,443 $1,475 $— $6 $2,241 $2,247 (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 table below provides valuation techniques, the range, and the weighted average of significant unobservable inputs for Level 3 assets measured on our condensed consolidated balance sheets at fair value on a non-recurring basis. Table 17.5 - Quantitative Information About Non-Recurring Level 3 Fair Value Measurements June 30, 2021 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions, except for unobservable inputs as shown) Type Range Weighted Average (1) Non-recurring fair value measurements Mortgage loans $1,443 Internal model Historical sales proceeds $3,150 - $622,325 $209,088 Internal model Housing sales index 72 - 637 bps 127 bps Median of external sources External pricing sources $60.0 - $106.3 $95.2 December 31, 2020 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions, except for unobservable inputs as shown) Type Range Weighted Average (1) Non-recurring fair value measurements Mortgage loans $2,241 Internal model Historical sales proceeds $3,001 - $696,004 $202,539 Internal model Housing sales index 66 - 345 bps 119 bps Median of external sources External pricing sources $59.5 - $104.0 $92.1 (1) Unobservable inputs were weighted primarily by the relative fair value of the financial instruments. Fair Value of Financial Instruments The table below presents the carrying value and estimated fair value of our financial instruments. For certain types of financial instruments, such as cash and cash equivalents, 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 17.6 - Fair Value of Financial Instruments June 30, 2021 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 $11,171 $11,171 $— $— $— $11,171 Securities purchased under agreements to resell Amortized cost 113,697 — 118,317 — (4,620) 113,697 Investment securities: Available-for-sale, at fair value FV - OCI 4,567 — 3,093 1,474 — 4,567 Trading, at fair value FV - NI 54,991 32,269 19,199 3,523 — 54,991 Total investment securities 59,558 32,269 22,292 4,997 — 59,558 Mortgage loans: Loans held by consolidated trusts 2,543,467 — 2,351,354 234,749 — 2,586,103 Loans held by Freddie Mac 64,756 — 36,783 30,364 — 67,147 Total mortgage loans Various (3) 2,608,223 — 2,388,137 265,113 — 2,653,250 Derivative assets, net FV - NI 756 17 6,682 25 (5,968) 756 Guarantee assets FV - NI 5,869 — — 5,873 — 5,873 Non-derivative purchase commitments, at fair value FV - NI 141 — 226 — — 226 Advances to lenders Amortized cost 5,045 — — 5,045 — 5,045 Secured lending Amortized cost 1,593 — 1,391 56 — 1,447 Total financial assets $2,806,053 $43,457 $2,537,045 $281,109 ($10,588) $2,851,023 Financial Liabilities Debt: Debt securities of consolidated trusts held by third parties $2,575,653 $— $2,607,642 $796 $— $2,608,438 Debt of Freddie Mac 227,102 — 233,566 3,965 (4,620) 232,911 Total debt Various (4) 2,802,755 — 2,841,208 4,761 (4,620) 2,841,349 Derivative liabilities, net FV - NI 507 — 8,048 23 (7,564) 507 Guarantee obligations Amortized cost 5,422 — — 6,232 — 6,232 Non-derivative purchase commitments, at fair value FV - NI 12 — — 53 — 53 Total financial liabilities $2,808,696 $— $2,849,256 $11,069 ($12,184) $2,848,141 (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 June 30, 2021, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $2.6 trillion, $10.7 billion, and $6.8 billion, respectively. (4) As of June 30, 2021, the GAAP carrying amounts measured at amortized cost and FV - NI were $2.8 trillion and $2.1 billion, respectively. December 31, 2020 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 $23,889 $23,889 $— $— $— $23,889 Securities purchased under agreements to resell Amortized cost 105,003 — 105,003 — — 105,003 Investment securities: Available-for-sale, at fair value FV - OCI 15,367 — 13,779 1,588 — 15,367 Trading, at fair value FV - NI 44,458 26,255 14,944 3,259 — 44,458 Total investment securities 59,825 26,255 28,723 4,847 — 59,825 Mortgage loans: Loans held by consolidated trusts 2,273,347 — 2,080,687 262,309 — 2,342,996 Loans held by Freddie Mac 110,541 — 76,917 36,578 — 113,495 Total mortgage loans Various (3) 2,383,888 — 2,157,604 298,887 — 2,456,491 Derivative assets, net FV - NI 1,205 — 8,516 63 (7,374) 1,205 Guarantee assets FV - NI 5,509 — — 5,515 — 5,515 Non-derivative purchase commitments, at fair value FV - NI 158 — 246 — — 246 Advances to lenders Amortized cost 4,162 — — 4,162 — 4,162 Secured lending Amortized cost 1,680 — 1,427 89 — 1,516 Total financial assets $2,585,319 $50,144 $2,301,519 $313,563 ($7,374) $2,657,852 Financial Liabilities Debt: Debt securities of consolidated trusts held by third parties $2,308,176 $— $2,382,157 $852 $— $2,383,009 Debt of Freddie Mac 284,370 — 286,634 4,088 — 290,722 Total debt Various (4) 2,592,546 — 2,668,791 4,940 — 2,673,731 Derivative liabilities, net FV - NI 954 — 9,132 16 (8,194) 954 Guarantee obligations Amortized cost 5,050 — — 5,378 — 5,378 Non-derivative purchase commitments, at fair value FV - NI 20 — 1 143 — 144 Total financial liabilities $2,598,570 $— $2,677,924 $10,477 ($8,194) $2,680,207 (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, 2020, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $2.4 trillion, $19.5 billion, and $14.2 billion, respectively. Table 17.7 - Difference between Fair Value and UPB for Certain Financial Instruments with Fair Value Option Elected June 30, 2021 December 31, 2020 (In millions) Multifamily Held-For-Sale Loans Debt of Freddie Mac - Debt Securities of Consolidated Trusts Held by Third Parties Multifamily Held-For-Sale Loans Debt of Freddie Mac - Debt Securities of Consolidated Trusts Held by Third Parties Fair value $6,811 $1,668 $172 $14,199 $2,216 $203 UPB 6,424 1,637 169 13,400 2,189 200 Difference $387 $31 $3 $799 $27 $3 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 (loss), related to items for which we have elected the fair value option. Table 17.8 - Changes in Fair Value Under the Fair Value Option Election 2Q 2021 2Q 2020 YTD 2021 YTD 2020 (In millions) Gains (Losses) Gains (Losses) Multifamily held-for-sale loans $221 $313 ($230) $951 Multifamily held-for-sale loan purchase commitments 342 650 537 1,182 Debt of Freddie Mac - long term 22 (70) 30 478 Debt securities of consolidated trusts held by third parties 13 — 9 4 Changes in fair value attributable to instrument-specific credit risk were not material for 2Q 2021, YTD 2021, 2Q 2020, and YTD 2020 for assets or liabilities for which we elected the fair value option.

Legal Contingencies

Legal Contingencies	6 Months Ended
	Jun. 30, 2021
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 Sixth Circuit 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 Sixth Circuit denied plaintiff's petition for leave to appeal that decision. On September 17, 2020, the District Court granted a request from the plaintiff for summary judgment and entered final judgment in favor of Freddie Mac and the other defendants. On October 9, 2020, the plaintiff filed a notice of appeal with the Sixth Circuit. On January 27, 2021, Freddie Mac filed a motion to dismiss the appeal. At present, it is not possible for us to predict the probable outcome of this lawsuit or any potential effect on our business, financial condition, liquidity, or results of operations. In addition, we are unable to reasonably estimate the possible loss or range of possible loss in the event of an adverse judgment in the foregoing matter due to the following factors, among others: the inherent uncertainty of the appellate process, and the inherent uncertainty of pre-trial litigation in the event the case is ultimately remanded to the District Court in whole or in part. In particular, while the District Court denied plaintiff's motion for class certification, this decision and the entry of final judgment in defendants' favor have been appealed. 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 alleged, 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 DC Circuit 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 DC Circuit 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 DC Circuit 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 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. Discovery is ongoing. 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. The United States filed a motion to dismiss on August 1, 2018 and an amended motion to dismiss on October 1, 2018. The Court denied the United States' motion to dismiss on May 8, 2020 and granted plaintiffs' motion to certify the decisions for interlocutory appeal on June 11, 2020. The Federal Circuit denied the petition for interlocutory appeal on August 21, 2020. These proceedings are stayed pending a ruling on the Fairholme Funds appeals. 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. The United States filed a motion to dismiss on August 1, 2018 and an amended motion to dismiss on October 1, 2018. On December 6, 2019, the Court dismissed the claims plaintiffs labeled as direct claims and denied defendant's motion to dismiss with respect to the claims plaintiffs labeled as derivative. Accordingly, derivative takings, exaction, breach of fiduciary duty, and breach of implied-in-fact contract claims remain. By order dated March 9, 2020, the Court granted unopposed motions by plaintiffs and defendant to certify the December 6 opinion for interlocutory review, modified its December 6 opinion to include the language necessary for an interlocutory appeal to the U.S. Court of Appeals for the Federal Circuit, and stayed further proceedings in the case pending the completion of the interlocutory appeal process. The Federal Circuit granted the petition for interlocutory appeal on June 18, 2020. 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 plaintiff asks that it, 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. These proceedings are stayed pending a ruling on the Fairholme Funds appeals. 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	6 Months Ended
	Jun. 30, 2021
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 as required by FHFA. The table below summarizes our net worth and estimated core capital and minimum capital levels reported to FHFA. Table 19.1 - Net Worth and Minimum Capital (In millions) June 30, 2021 December 31, 2020 GAAP net worth (deficit) $22,402 $16,413 Core capital (deficit) (1)(2) (50,432) (56,878) Less: Minimum capital (1) 23,549 22,694 Minimum capital surplus (deficit) (1) ($73,981) ($79,572) (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 senior preferred stock) as these items do not meet the statutory definition of core capital.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
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. 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. During 1Q 2021, our chief operating decision maker began making decisions about allocating resources and assessing segment performance based on two reportable segments, Single-family and Multifamily. See Note 15 for additional information on the change in our segment reporting presentation.
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.
Other Significant Accounting Policies	Recently Adopted Accounting Guidance Standard Description Date of Effect on Consolidated Financial Statements ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity The amendments in this Update simplify an issuer's January 1, 2021 The adoption of the amendments did not have a material effect on our consolidated financial statements. ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs The amendments in this Update clarify the guidance January 1, 2021 The adoption of the amendments did not have a material effect on our consolidated financial statements. Recently Issued Accounting Guidance, Not Yet Adopted Within Our Consolidated Financial Statements Standard Description Date of Effect on Consolidated Financial Statements ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options The amendments in this Update require issuers to account for modifications or exchanges of freestanding equity-classified written call options based on the reason for the modification or exchange, to issue equity, to issue or modify debt, or for other reasons. January 1, 2022 We do not expect the adoption of the amendments to have a material effect on our consolidated financial statements.
Securitization Activities and Consolidation	Securitization Activities and ConsolidationOur primary business activities in our Single-family 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 and Other Off-Balance Sheet Credit Exposures	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 generally 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.
Hedge Accounting	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.
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)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Table - Schedule of Various Interest Entities	The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on our condensed consolidated balance sheets. Table 3.1 - Consolidated VIEs (In millions) June 30, 2021 December 31, 2020 Condensed Consolidated Balance Sheet Line Item Assets: Cash and cash equivalents (includes $3,859 and $17,289 of restricted cash and cash equivalents) $3,860 $17,290 Securities purchased under agreements to resell 36,266 38,487 Investment securities, at fair value 4,159 591 Mortgage loans held-for-investment, net 2,543,467 2,273,347 Accrued interest receivable, net 7,141 7,134 Other assets 16,194 20,480 Total assets of consolidated VIEs $2,611,087 $2,357,329 Liabilities: Accrued interest payable $5,631 $5,610 Debt 2,575,653 2,308,176 Total liabilities of consolidated VIEs $2,581,284 $2,313,786 Table 3.2 - Nonconsolidated VIEs (In millions) June 30, 2021 December 31, 2020 Assets and Liabilities Recorded on our Condensed Consolidated Balance Sheets (1) Assets: Investment securities, at fair value $23,598 $28,459 Accrued interest receivable, net 236 239 Derivative assets, net 24 61 Other assets 5,615 5,553 Liabilities: Debt 67 — Derivative liabilities, net 46 47 Other liabilities 4,857 4,515

Mortgage Loans (Tables)

Mortgage Loans (Tables)	6 Months Ended
	Jun. 30, 2021
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. Table 4.1 - Mortgage Loans June 30, 2021 December 31, 2020 (In millions) Single-family Multifamily Total Single-family Multifamily Total Held-for-sale UPB $7,920 $10,475 $18,395 $10,702 $23,789 $34,491 Cost basis and fair value adjustments, net (1,272) 385 (887) (1,637) 798 (839) Total held-for-sale loans, net 6,648 10,860 17,508 9,065 24,587 33,652 Held-for-investment UPB 2,510,339 22,209 2,532,548 2,271,576 21,923 2,293,499 Cost basis adjustments 62,756 59 62,815 62,415 54 62,469 Allowance for credit losses (4,601) (47) (4,648) (5,628) (104) (5,732) Total held-for-investment loans, net 2,568,494 22,221 2,590,715 2,328,363 21,873 2,350,236 Total mortgage loans, net $2,575,142 $33,081 $2,608,223 $2,337,428 $46,460 $2,383,888 The table below provides details of the UPB of loans we purchased and sold during the periods presented. Table 4.2 - Loans Purchased and Sold (In billions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Single-family: Purchases: Held-for-investment loans $287.1 $230.7 $647.7 $368.4 Sale of held-for-sale loans (1) 3.0 — 3.0 2.2 Multifamily: Purchases: Held-for-investment loans 1.3 3.1 2.9 4.3 Held-for-sale loans 11.5 16.4 23.8 24.6 Sale of held-for-sale loans (2) 17.7 11.0 38.8 21.7 (1) Our sales of single-family loans reflect the sale of seasoned single-family mortgage loans. (2) Our sales of multifamily loans occur primarily through the issuance of multifamily K Certificates and SB Certificates. See Note 3 Table 4.3 - Loan Reclassifications 2Q 2021 2Q 2020 (In millions) UPB Allowance for Credit Losses Reversed or (Established) Valuation Allowance (Established) or Reversed UPB Allowance for Credit Losses Reversed or (Established) Valuation Allowance (Established) or Reversed Single-family reclassifications from: Held-for-investment to held-for-sale (1) $469 $28 $— $759 $34 $— Held-for-sale to held-for-investment (2) 67 6 — 244 20 4 Multifamily reclassifications from: Held-for-investment to held-for-sale 1,202 5 — 615 — — Held-for-sale to held-for-investment 12 — — 89 — — YTD 2021 YTD 2020 (In millions) UPB Allowance for Credit Losses Reversed or (Established) Valuation Allowance (Established) or Reversed UPB Allowance for Credit Losses Reversed or (Established) Valuation Allowance (Established) or Reversed Single-family reclassifications from: Held-for-investment to held-for-sale (1) $970 $35 $— $3,396 $248 $— Held-for-sale to held-for-investment (2) 102 9 — 245 20 4 Multifamily reclassifications from: Held-for-investment to held-for-sale 1,730 6 — 647 — — Held-for-sale to held-for-investment 21 — — 571 (1) — (1) Prior to reclassification from held-for-investment to held-for-sale, we charged-off $15 million and $42 million against the allowance for credit losses during 2Q 2021 and YTD 2021, respectively, compared to $94 million and $173 million during 2Q 2020 and YTD 2020, respectively. (2) Allowance for credit losses reversed upon reclassifications from held-for-sale to held-for-investment for loans that were previously charged off and the present values of expected future cash flows were in excess of the amortized cost basis upon reclassification.
Table - Amortized Cost Basis of Held-for-Investment Loans on Non-accrual	The table below provides the amortized cost basis of non-accrual loans as of the beginning and the end of the periods presented, including the interest income recognized for the period that is related to the loans on non-accrual status as of the period end. Table 4.4 - Amortized Cost Basis of Held-for-Investment Loans on Non-Accrual Non-Accrual Amortized Cost Basis Interest Income Recognized (1) (In millions) March 31, 2021 June 30, 2021 2Q 2021 YTD 2021 Single-family: 20- and 30-year or more, amortizing fixed-rate $21,137 $19,431 $35 $70 15-year amortizing fixed-rate 1,031 914 1 3 Adjustable-rate 296 268 — 1 Alt-A, interest-only, and option ARM 700 611 1 2 Total single-family 23,164 21,224 37 76 Total multifamily — — — — Total single-family and multifamily $23,164 $21,224 $37 $76 Referenced footnotes are included after the prior period table. Non-Accrual Amortized Cost Basis Interest Income Recognized (1) (In millions) March 31, 2020 June 30, 2020 2Q 2020 YTD 2020 Single-family: 20- and 30-year or more, amortizing fixed-rate $5,494 $10,226 ($35) $30 15-year amortizing fixed-rate 241 528 (2) 1 Adjustable-rate 83 150 — — Alt-A, interest-only, and option ARM 389 540 (1) 2 Total single-family 6,207 11,444 (38) 33 Total multifamily 13 — — — Total single-family and multifamily $6,220 $11,444 ($38) $33 (1) Represents the amount of payments received during the period, including those received while the loans were on accrual status, for the held-for-investment loans on non-accrual status as of period end.
Table - Accrued Interest Receivable, Net and Related Charge-offs	The table below provides the amount of accrued interest receivable, net, presented on our condensed consolidated balance sheets and the amount of accrued interest receivable related to loans on non-accrual status at the end of the periods that is charged off. Table 4.5 - Accrued Interest Receivable, Net and Related Charge-Offs Accrued Interest Receivable, Net Accrued Interest Receivable Related Charge-Offs (In millions) June 30, 2021 December 31, 2020 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Single-family loans $7,222 $7,292 ($119) ($92) ($285) ($121) Multifamily loans 104 139 — — — —
Table - Recorded Investment of Held-For-Investment Mortgage Loans, by LTV Ratio and Credit Quality Indicator	The table below presents the amortized cost basis of single-family held-for-investment loans by current LTV ratio. Our current LTV ratios are estimates based on available data through the end of each period presented. 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. Table 4.6 - Amortized Cost Basis of Single-Family Held-for-Investment Loans by Current LTV Ratio and Vintage June 30, 2021 Year of Origination Total (In millions) 2021 2020 2019 2018 2017 Prior Current LTV Ratio: 20- and 30-year or more, amortizing fixed-rate ≤ 60 $115,459 $306,280 $65,299 $38,381 $65,585 $467,656 $1,058,660 > 60 to 80 235,850 446,701 107,331 36,116 27,259 36,693 889,950 > 80 to 90 63,487 98,729 7,580 1,426 489 1,565 173,276 > 90 to 100 39,697 3,968 167 53 41 561 44,487 > 100 (1) 67 7 2 14 33 554 677 Total 20- and 30-year or more, amortizing fixed-rate 454,560 855,685 180,379 75,990 93,407 507,029 2,167,050 15-year amortizing fixed-rate ≤ 60 43,775 102,912 18,842 8,654 16,342 94,098 284,623 > 60 to 80 33,861 46,353 4,268 539 204 100 85,325 > 80 to 90 3,311 1,540 33 4 4 9 4,901 > 90 to 100 595 41 — 1 2 3 642 > 100 (1) 9 — — 1 2 6 18 Total 15-year amortizing fixed-rate 81,551 150,846 23,143 9,199 16,554 94,216 375,509 Adjustable-rate ≤ 60 545 1,539 803 636 2,056 12,158 17,737 > 60 to 80 746 947 472 214 404 313 3,096 > 80 to 90 130 55 15 5 7 4 216 > 90 to 100 55 — 1 — — 1 57 > 100 (1) — — — — — 1 1 Total adjustable-rate 1,476 2,541 1,291 855 2,467 12,477 21,107 Alt-A, Interest-only, and option ARM ≤ 60 — — — — — 8,149 8,149 > 60 to 80 — — — — — 1,083 1,083 > 80 to 90 — — — — — 120 120 > 90 to 100 — — — — — 45 45 > 100 (1) — — — — — 32 32 Total Alt-A, interest-only, and option ARM — — — — — 9,429 9,429 Total single-family loans $537,587 $1,009,072 $204,813 $86,044 $112,428 $623,151 $2,573,095 Total for all loan product types by current LTV ratio: ≤ 60 $159,779 $410,731 $84,944 $47,671 $83,983 $582,061 $1,369,169 > 60 to 80 270,457 494,001 112,071 36,869 27,867 38,189 979,454 > 80 to 90 66,928 100,324 7,628 1,435 500 1,698 178,513 > 90 to 100 40,347 4,009 168 54 43 610 45,231 > 100 (1) 76 7 2 15 35 593 728 Total single-family loans $537,587 $1,009,072 $204,813 $86,044 $112,428 $623,151 $2,573,095 Referenced footnotes are included after the prior period table. December 31, 2020 Year of Origination Total (In millions) 2020 2019 2018 2017 2016 Prior Current LTV Ratio: 20- and 30-year or more, amortizing fixed-rate ≤ 60 $203,333 $52,820 $33,139 $64,834 $115,978 $431,406 $901,510 > 60 to 80 437,107 141,094 64,236 59,110 40,614 44,636 786,797 > 80 to 100 206,457 53,926 8,822 2,117 654 3,983 275,959 > 100 (1) 202 7 25 64 61 948 1,307 Total 20- and 30-year or more, amortizing fixed-rate 847,099 247,847 106,222 126,125 157,307 480,973 1,965,573 15-year amortizing fixed-rate ≤ 60 78,269 17,753 9,914 19,650 29,916 83,842 239,344 > 60 to 80 67,904 12,169 2,195 961 215 135 83,579 > 80 to 100 8,553 400 17 12 9 17 9,008 > 100 (1) 21 — 3 5 3 7 39 Total 15-year amortizing fixed-rate 154,747 30,322 12,129 20,628 30,143 84,001 331,970 Adjustable-rate ≤ 60 1,427 850 731 2,429 2,042 12,993 20,472 > 60 to 80 1,403 877 537 1,061 329 528 4,735 > 80 to 100 232 125 34 29 2 8 430 > 100 (1) — — — — — 1 1 Total adjustable-rate 3,062 1,852 1,302 3,519 2,373 13,530 25,638 Alt-A, Interest-only, and option ARM ≤ 60 — — — — — 8,620 8,620 > 60 to 80 — — — — — 1,818 1,818 > 80 to 100 — — — — — 314 314 > 100 (1) — — — — — 58 58 Total Alt-A, interest-only, and option ARM — — — — — 10,810 10,810 Total single-family loans $1,004,908 $280,021 $119,653 $150,272 $189,823 $589,314 $2,333,991 Total for all loan product types by Current LTV ratio: ≤ 60 $283,029 $71,423 $43,784 $86,913 $147,936 $536,861 $1,169,946 > 60 to 80 506,414 154,140 66,968 61,132 41,158 47,117 876,929 > 80 to 100 215,242 54,451 8,873 2,158 665 4,322 285,711 > 100 (1) 223 7 28 69 64 1,014 1,405 Total single-family loans $1,004,908 $280,021 $119,653 $150,272 $189,823 $589,314 $2,333,991 (1) The serious delinquency rate for the single-family held-for-investment mortgage loans with current LTV ratios in excess of 100% was 10.22% and 11.17% as of June 30, 2021 and December 31, 2020, respectively. The table below presents the amortized cost basis of 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 and are defined as follows: n "Pass" is current and adequately protected by the current financial strength and debt service capacity of the borrower; n "Special mention" has administrative issues that may affect future repayment prospects but does not have current credit weaknesses. In addition, this category generally includes loans in forbearance; n "Substandard" has a weakness that jeopardizes the timely full repayment; and n "Doubtful" has a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions. Table 4.7 - Amortized Cost Basis of Multifamily Held-for-Investment Loans by Credit Quality Indicator by Vintage June 30, 2021 Year of Origination Total (In millions) 2021 2020 2019 2018 2017 Prior Revolving Loans Category: Pass $1,293 $7,698 $5,560 $1,135 $654 $3,039 $2,168 $21,547 Special mention — — 476 — — 106 — 582 Substandard — — 23 1 13 102 — 139 Doubtful — — — — — — — — Total $1,293 $7,698 $6,059 $1,136 $667 $3,247 $2,168 $22,268 December 31, 2020 Year of Origination Total (In millions) 2020 2019 2018 2017 2016 Prior Revolving Loans Category: Pass $7,486 $6,491 $1,075 $722 $590 $2,715 $2,024 $21,103 Special mention — 524 115 — 8 108 — 755 Substandard — — 6 41 — 72 — 119 Doubtful — — — — — — — — Total $7,486 $7,015 $1,196 $763 $598 $2,895 $2,024 $21,977
Table - Payment Status of Mortgage Loans	The table below presents the amortized cost basis of our single-family and multifamily loans, held-for-investment, by payment status. Table 4.8 - Amortized Cost Basis of Held-for-Investment Loans by Payment Status June 30, 2021 (In millions) Current One Month Past Due Two Months Past Due Three Months or More Past Due, or in Foreclosure (1) Total Three Months or More Past Due, and Accruing Non-accrual With No Allowance (2) Single-family: 20- and 30-year or more, amortizing fixed-rate $2,114,708 $11,746 $3,429 $37,167 $2,167,050 $18,089 $845 15-year amortizing fixed-rate 371,888 1,103 235 2,283 375,509 1,363 10 Adjustable-rate 20,323 143 42 599 21,107 334 7 Alt-A, interest-only, and option ARM 8,266 222 78 863 9,429 254 128 Total single-family 2,515,185 13,214 3,784 40,912 2,573,095 20,040 990 Total multifamily (3) 22,268 — — — 22,268 — — Total single-family and multifamily $2,537,453 $13,214 $3,784 $40,912 $2,595,363 $20,040 $990 Referenced footnotes are included after the prior period table. December 31, 2020 (In millions) Current One Two Three Months or (1) Total Three Months or More Past Due, and Accruing Non-accrual with No Allowance (2) Single-family: 20- and 30-year or more, amortizing fixed-rate $1,891,981 $15,798 $5,941 $51,853 $1,965,573 $40,162 $648 15-year amortizing fixed-rate 326,651 1,439 429 3,451 331,970 2,723 11 Adjustable-rate 24,483 192 79 884 25,638 690 5 Alt-A, interest-only, and option ARM 9,227 292 130 1,161 10,810 538 115 Total single-family 2,252,342 17,721 6,579 57,349 2,333,991 44,113 779 Total multifamily (3) 21,977 — — — 21,977 — — Total single-family and multifamily $2,274,319 $17,721 $6,579 $57,349 $2,355,968 $44,113 $779 (1) Includes $0.8 billion and $1.0 billion of single-family loans that were in the process of foreclosure as of June 30, 2021 and December 31, 2020, respectively. (2) Loans with no allowance for loan losses primarily represent those loans that were previously charged-off and therefore the collateral value is sufficiently in excess of the amortized cost to result in recovery of the entire amortized cost basis if the property were foreclosed upon or otherwise subject to disposition. We exclude the amounts of allowance for credit losses on accrued interest receivable and advances of pre-foreclosure costs when determining whether a loan has an allowance for credit losses. (3) As of June 30, 2021 and December 31, 2020, includes $0.6 billion and $0.7 billion of multifamily loans in forbearance that are reported as current.
Table- Single-Family TDR Modification Metrics	The table below provides details of our single-family loan modifications that were classified as TDRs during the periods presented. Table 4.9 - Single-Family TDR Modification Metrics 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Percentage of single-family loan modifications that were classified as TDRs with: Interest rate reductions and related term extensions 13 % 15 % 14 % 15 % Principal forbearance and related interest rate reductions and term extensions 37 18 35 19 Average coupon interest rate reduction 0.4 % 0.3 % 0.4 % 0.3 % Average months of term extension 145 187 149 187
Table - TDR Activity	The table below presents the volume of single-family and multifamily loans that were newly classified as TDRs. 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 2Q 2021 2Q 2020 YTD 2021 YTD 2020 (Dollars in millions) Number of Loans Post-TDR Number of Loans Post-TDR Number of Loans Post-TDR Number of Loans Post-TDR Single-family: (1)(2) 20- and 30-year or more, amortizing fixed-rate 3,729 $656 5,309 $943 7,511 $1,327 11,741 $2,070 15-year amortizing fixed-rate 425 47 590 61 897 94 1,319 133 Adjustable-rate 52 10 88 15 100 19 185 32 Alt-A, interest-only, and option ARM 156 20 135 19 307 39 301 43 Total single-family 4,362 733 6,122 1,038 8,815 1,479 13,546 2,278 Multifamily — — — — — — — — (1) The pre-TDR amortized cost basis for single-family loans initially classified as TDR during 2Q 2021 and YTD 2021 was $0.8 billion and $1.5 billion, respectively, compared to $1.0 billion and $2.3 billion during 2Q 2020 and YTD 2020, respectively. (2) Includes certain bankruptcy events and forbearance plans, repayment plans, payment deferrals, and modification activities that do not qualify for the temporary relief related to TDR provided by the CARES Act based on servicer reporting at the time of the TDR event.
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. Table 4.11 - Payment Defaults of Completed TDR Modifications 2Q 2021 2Q 2020 YTD 2021 YTD 2020 (Dollars in millions) Number of Loans Post-TDR Amortized Cost Basis Number of Loans Post-TDR Amortized Cost Basis Number of Loans Post-TDR Amortized Cost Basis Number of Loans Post-TDR Amortized Cost Basis Single-family: 20- and 30-year or more, amortizing fixed-rate 682 $124 4,116 $791 1,813 $322 6,620 $1,218 15-year amortizing fixed-rate 24 2 197 26 86 9 316 40 Adjustable-rate 6 1 59 10 21 4 88 14 Alt-A, interest-only, and option ARM 89 13 349 72 216 34 513 104 Total single-family 801 140 4,721 899 2,136 369 7,537 1,376 Multifamily — — — — — — — —

Guarantees and Other Off-Bala_2

Guarantees and Other Off-Balance Sheet Credit Exposures (Tables)	6 Months Ended
	Jun. 30, 2021
Guarantees [Abstract]
Table - Financial Guarantees	The table below shows our maximum exposure, recognized liability, and maximum remaining term of our guarantees to nonconsolidated VIEs and other third parties. This table does not include certain of 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 enhancements. See Note 8 for additional information on our credit enhancements. Table 5.1 - Financial Guarantees June 30, 2021 December 31, 2020 ( Dollars in millions , terms in years) Maximum (1) Recognized (2) Maximum Maximum (1) Recognized (2) Maximum Single-family: Securitization activity guarantees $29,696 $410 39 $29,739 $401 39 Other mortgage-related guarantees 10,148 241 30 9,215 193 30 Total single-family $39,844 $651 $38,954 $594 Multifamily: Securitization activity guarantees $309,718 $4,382 39 $287,334 $4,031 39 Other mortgage-related guarantees 9,973 389 33 10,721 425 33 Total multifamily $319,691 $4,771 $298,055 $4,456 Other guarantees $63,926 $1,387 30 $47,703 $794 30 Fannie Mae securities backing Freddie Mac resecuritization products 99,039 — 40 85,841 — 41 (1) The maximum exposure represents the contractual amounts that could be lost if counterparties or borrowers defaulted, without consideration of proceeds from related collateral liquidation and possible recoveries under credit enhancements. For other guarantees, this amount primarily represents the notional amount or UPB of our interest-rate and market value guarantees and guarantees of third-party derivatives. For certain of our other guarantees, our exposure may be unlimited; however, we generally reduce our exposure through separate contracts with third parties. The table below shows the payment status of the mortgage loans underlying our guarantees that are not measured at fair value. Table 5.2 – UPB of Loans Underlying Our Guarantees by Payment Status June 30, 2021 (In millions) Current One Month Past Due Two Months Past Due Three Months or More Past Due, or in Foreclosure Total (1) Single-family $40,023 $1,784 $594 $3,058 $45,459 Multifamily (2) 362,877 55 25 548 363,505 Total $402,900 $1,839 $619 $3,606 $408,964 December 31, 2020 (In millions) Current One Month Past Due Two Months Past Due Three Months or More Past Due, or in Foreclosure Total (1) Single-family $37,187 $2,204 $945 $3,922 $44,258 Multifamily 339,614 87 62 557 340,320 Total $376,801 $2,291 $1,007 $4,479 $384,578 (1) Loan-level payment status is not available for certain guarantees totaling $0.5 billion and $0.7 billion as of June 30, 2021 and December 31, 2020, respectively, and therefore is not included in the table above. (2) As of June 30, 2021, includes $4.4 billion of multifamily loans in forbearance that are reported as current.

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Table - Investment Securities	The table below summarizes the fair values of our investments in debt securities by classification. Table 6.1 - Investment Securities (In millions) June 30, 2021 December 31, 2020 Trading securities $54,991 $44,458 Available-for-sale securities 4,567 15,367 Total fair value of investment securities $59,558 $59,825
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 6.2 - Trading Securities (In millions) June 30, 2021 December 31, 2020 Mortgage-related securities: Agency $21,708 $17,504 Non-agency — 1 Total mortgage-related securities 21,708 17,505 Non-mortgage-related securities 33,283 26,953 Total fair value of trading securities $54,991 $44,458
Table - Available-For-Sale Securities	The table below provides details of the securities classified as available-for-sale on our condensed consolidated balance sheets. Table 6.3 - Available-for-Sale Securities June 30, 2021 Amortized Basis Gross Unrealized Gains in Other Comprehensive Income Gross Unrealized Fair Value Accrued Interest Receivable (In millions) Available-for-sale securities: Agency $3,380 $189 ($1) $3,568 $8 Non-agency and other 757 242 — 999 4 Total available-for-sale securities $4,137 $431 ($1) $4,567 $12 December 31, 2020 Amortized Basis Gross Unrealized Gross Unrealized Fair Value Accrued Interest Receivable (In millions) Available-for-sale securities: Agency $13,514 $794 ($4) $14,304 $36 Non-agency and other 830 233 — 1,063 4 Total available-for-sale securities $14,344 $1,027 ($4) $15,367 $40
Table - Available-For-Sale Securities in a Gross Unrealized Loss Position	The table below presents available-for-sale securities in a gross unrealized loss position and whether such securities have been in an unrealized loss position for less than 12 months, or 12 months or greater. Table 6.4 - Available-for-Sale Securities in a Gross Unrealized Loss Position June 30, 2021 Less than 12 Months 12 Months or Greater (In millions) Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-sale securities: Agency $20 $— $105 ($1) Non-agency and other — — — — Total available-for-sale securities in a gross unrealized loss position $20 $— $105 ($1) December 31, 2020 Less than 12 Months 12 Months or Greater (In millions) Fair Gross Unrealized Losses Fair Gross Unrealized Losses Available-for-sale securities: Agency $223 ($2) $144 ($2) Non-agency and other 17 — — — Total available-for-sale securities in a gross unrealized loss position $240 ($2) $144 ($2)
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 6.5 - Gross Realized Gains and Gross Realized Losses from Sales of Available-for-Sale Securities (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Gross realized gains $121 $44 $520 $77 Gross realized losses (22) (37) (53) (60) Net realized gains (losses) $99 $7 $467 $17

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2021
Credit Loss [Abstract]
Table - Details of the Allowance for Credit Losses	The table below summarizes changes in our allowance for credit losses. Table 7.1 - Details of the Allowance for Credit Losses 2Q 2021 2Q 2020 YTD 2021 YTD 2020 (In millions) Single-family Multifamily Total Single-family Multifamily Total Single-family Multifamily Total Single-family Multifamily Total Beginning balance $6,130 $150 $6,280 $6,347 $136 $6,483 $6,353 $200 $6,553 $5,233 $69 $5,302 Provision (benefit) for credit losses (686) (54) (740) 624 81 705 (832) (104) (936) 1,790 148 1,938 Charge-offs (203) — (203) (121) — (121) (441) — (441) (285) — (285) Recoveries collected 61 — 61 36 — 36 107 — 107 124 — 124 Other 211 — 211 30 — 30 326 — 326 54 — 54 Ending balance $5,513 $96 $5,609 $6,916 $217 $7,133 $5,513 $96 $5,609 $6,916 $217 $7,133 Components of ending balance of allowance for credit losses: Mortgage loans held-for-investment $4,601 $47 $4,648 $6,482 $124 $6,606 Advances of pre-foreclosure costs 691 — 691 323 — 323 Accrued interest receivable on mortgage loans 168 — 168 57 — 57 Off-balance sheet credit exposures 53 49 102 54 93 147 Total $5,513 $96 $5,609 $6,916 $217 $7,133

Credit Enhancements (Tables)

Credit Enhancements (Tables)	6 Months Ended
	Jun. 30, 2021
Credit Enhancements [Abstract]
Table - Credit Enhancement Receivables	The table below presents details of our credit enhancement receivables. These amounts are recognized in other assets on our condensed consolidated balance sheets. Table 8.1 - Credit Enhancement Receivables (In millions) June 30, 2021 December 31, 2020 Freestanding credit enhancement expected recovery receivables, net of allowance $217 $677 Primary mortgage insurance receivables (1) , net of allowance 71 74 Total credit enhancement receivables $288 $751 (1) Excludes $433 million and $444 million of deferred payment obligations associated with unpaid claim amounts as of June 30, 2021 and December 31, 2020, respectively. We have reserved for substantially all these unpaid amounts as collectability is uncertain.
Table- Single-Family Credit Enhancements	The table below presents the UPB and maximum coverage related to our single-family credit enhancements. Table 8.2 - Single-Family Credit Enhancements June 30, 2021 December 31, 2020 (In millions) Credit Enhancement Accounting Treatment UPB (1) Maximum Coverage (2) UPB (1) Maximum Coverage (2) Primary mortgage insurance (3) Attached $501,768 $122,942 $472,881 $116,973 STACR: Trust notes Freestanding 623,920 19,942 488,251 17,288 Debt notes Debt 273,747 11,553 365,482 12,377 Insurance/reinsurance (4) Freestanding 922,969 14,331 876,815 11,586 Subordination: Nonconsolidated VIEs Guarantee 34,871 5,853 34,671 5,718 Consolidated VIEs Debt 6,086 346 9,499 464 Lender risk-sharing Freestanding 4,975 4,477 5,731 4,831 Other Primarily attached 237 234 374 371 Total single-family credit enhancements $179,678 $169,608 (1) Represents the current UPB of the assets included in the associated reference pool or securitization trust, as applicable. Underlying loans may be covered by more than one form of credit enhancement. The UPB of certain CRT transactions may be different from the UPB of the underlying loans due to timing differences in reporting cycles between the transactions and the loans. Prior periods have been revised to conform to the current period presentation. (2) For STACR transactions, represents the outstanding balance held by third parties. For insurance/reinsurance transactions, represents the remaining aggregate limit of insurance purchased from third parties. For subordination, represents the outstanding UPB of the securities that are held by third parties and are subordinate to the securities we guarantee. (3) Amounts exclude certain loans for which we do not control servicing, as the coverage information for these loans is not readily available to us. (4) As of June 30, 2021 and December 31, 2020, substantially all of our counterparties posted sufficient collateral on our ACIS transactions to meet the minimum collateral requirements of the ACIS program, which are based on a combination of factors, including counterparty credit risk of the reinsurer and the structure and risk profile of the transaction.
Table - Multifamily Credit Enhancements	The table below presents the UPB and maximum coverage related to our multifamily credit enhancements. Table 8.3 - Multifamily Credit Enhancements June 30, 2021 December 31, 2020 (In millions) Credit Enhancement Accounting Treatment UPB (1) Maximum Coverage (2) UPB (1) Maximum Coverage (2) Subordination: Nonconsolidated VIEs Guarantee $353,191 $44,306 $328,897 $42,799 Lender risk-sharing Freestanding 2,892 599 3,317 598 Insurance/reinsurance (3) Freestanding 5,344 189 5,383 190 SCR: Trust notes Freestanding 4,788 272 — — Debt notes Debt 2,139 107 2,217 111 Other Primarily debt 1,202 404 2,211 453 Total multifamily credit enhancements $45,877 $44,151 (1) Represents the current UPB of the assets included in the associated reference pool or securitization trust, as applicable. Underlying loans may be covered by more than one form of credit enhancement. Prior periods have been revised to conform to the current period presentation. (2) For subordination, represents the outstanding UPB of the securities that are held by third parties and are subordinate to the securities we guarantee. For insurance/reinsurance transactions, represents the remaining aggregate limit of insurance purchased from third parties. For SCR transactions, represents the outstanding balance held by third parties. Prior periods have been revised to conform to the current period presentation. (3) As of June 30, 2021 and December 31, 2020, the counterparties to our insurance/reinsurance transactions have complied with the minimum collateral requirements. Minimum collateral requirements are assessed on each deal based on a combination of factors, including counterparty credit risk of the reinsurer and the structure and risk profile of the transaction.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Table - Total Debt	The table below summarizes the balances of total debt per our condensed consolidated balance sheets Table 9.1 - Total Debt (In millions) June 30, 2021 December 31, 2020 Debt securities of consolidated trusts held by third parties $2,575,653 $2,308,176 Debt of Freddie Mac: Short-term debt — 4,955 Long-term debt 227,102 279,415 Total Debt of Freddie Mac 227,102 284,370 Total debt $2,802,755 $2,592,546
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 9.2 - Debt Securities of Consolidated Trusts Held by Third Parties June 30, 2021 December 31, 2020 (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 2021 - 2060 $1,990,165 $2,046,438 2.77 % 2021 - 2060 $1,799,065 $1,855,438 3.07 % 20-year fixed-rate 2021 - 2041 119,298 122,569 2.53 2021 - 2041 97,520 100,498 2.84 15-year fixed-rate 2021 - 2036 357,016 365,964 2.25 2021 - 2036 303,142 310,612 2.46 Adjustable-rate 2021 - 2051 20,531 20,996 2.48 2021 - 2051 23,964 24,484 2.76 Interest-only 2026 - 2051 3,144 3,277 2.57 2026 - 2041 3,671 3,736 3.15 FHA/VA 2021 - 2051 828 845 3.79 2021 - 2050 752 769 4.04 Total single-family 2,490,982 2,560,089 2,228,114 2,295,537 Multifamily 2021-2051 15,352 15,564 2.26 2021-2050 12,488 12,639 2.43 Total debt of consolidated trusts held by third parties $2,506,334 $2,575,653 $2,240,602 $2,308,176 (1) Includes $252 million and $205 million at June 30, 2021 and December 31, 2020, respectively, of debt securities of consolidated trusts that represents the fair value of debt for which the fair value option was elected. (2) The effective interest rate for debt securities of consolidated trusts held by third parties was 1.73% and 1.76% as of June 30, 2021 and December 31, 2020, respectively.
Table - Other Debt	The table below summarizes the balances and effective interest rates for debt of Freddie Mac. Table 9.3 - Total Debt of Freddie Mac June 30, 2021 December 31, 2020 (Dollars in millions) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Par Value Carrying Amount (1) Weighted Average Effective Rate (2) Short-term debt: Discount notes and Reference Bills $— $— — % $11 $11 0.69 % Medium-term notes — — — 4,944 4,944 1.31 Securities sold under agreements to repurchase (3) 4,620 4,620 (0.03) — — — Total short-term debt 4,620 4,620 (0.03) 4,955 4,955 1.31 Long-term debt: Original maturities on or before December 31, 2021 26,621 26,620 0.72 43,422 43,417 0.95 2022 55,228 55,247 0.72 61,071 61,092 0.68 2023 48,199 48,139 0.44 61,998 61,920 0.45 2024 16,389 16,367 0.49 21,679 21,651 0.61 2025 35,777 35,414 0.83 44,342 43,944 0.84 Thereafter 36,602 34,867 2.62 36,386 34,583 2.64 STACR and SCR debt (4) 11,660 11,496 4.19 12,488 12,342 4.18 Hedging-related basis adjustments N/A (1,048) N/A 466 Total long-term debt 230,476 227,102 1.13 281,386 279,415 1.09 Total debt of Freddie Mac (5) $235,096 $231,722 $286,341 $284,370 (1) Represents par value, net of associated discounts or premiums and issuance cost. Includes $1.8 billion and $2.4 billion at June 30, 2021 and December 31, 2020, respectively, of long-term debt that represents the fair value of debt for which the fair value option was elected. (2) Based on carrying amount. (3) We offset payables related to securities sold under agreements to repurchase against receivables related to securities purchased under agreements to resell on our condensed consolidated balance sheets, when such amounts meet the conditions for offsetting in the accounting guidance. (4) 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. (5) Carrying amount for debt of Freddie Mac includes callable debt of $89.0 billion and $124.0 billion at June 30, 2021 and December 31, 2020, respectively.

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2021
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 10.1 - Derivative Assets and Liabilities at Fair Value June 30, 2021 December 31, 2020 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 risk management derivatives: Swaps $647,387 $2,082 ($5,132) $559,596 $2,639 ($7,091) Written options 31,654 — (1,331) 18,259 — (735) Purchased options (1) 236,105 4,395 — 169,995 5,265 — Futures 174,513 — — 181,702 — — Total interest-rate management derivatives 1,089,659 6,477 (6,463) 929,552 7,904 (7,826) Mortgage commitment derivatives: Forward contracts to purchase mortgage loans 11,857 23 (3) 37,122 183 — Forward contracts to purchase mortgage-related securities 32,396 79 (6) 45,185 203 — Forward contracts to sell mortgage-related securities 77,182 11 (201) 136,802 2 (759) Total mortgage commitment derivatives 121,435 113 (210) 219,109 388 (759) CRT-related derivatives 30,553 24 (38) 28,949 61 (47) Other 7,685 1 (24) 4,029 2 (16) Total derivatives not designated as hedges 1,249,332 6,615 (6,735) 1,181,639 8,355 (8,648) Designated as fair value hedges Interest-rate risk management derivatives: Swaps 153,002 109 (1,336) 180,686 224 (500) Total derivatives designated as fair value hedges 153,002 109 (1,336) 180,686 224 (500) Derivative interest receivable (payable) (2) 485 (463) 455 (523) Netting adjustments (3) (6,453) 8,027 (7,829) 8,717 Total derivative portfolio, net $1,402,334 $756 ($507) $1,362,325 $1,205 ($954) (1) Includes swaptions on credit indices with a notional or contractual amount of $11.5 billion and $16.8 billion at June 30, 2021 and December 31, 2020, respectively, and a fair value of $3.0 million and $9.0 million at June 30, 2021 and December 31, 2020, respectively. (2) Includes other derivative receivables and payables. (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 (loss) as investment gains (losses), net. Table 10.2 - Gains and Losses on Derivatives (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Not designated as hedges Interest-rate risk management derivatives: Swaps $1,039 $1,000 $1,654 ($3,863) Written options 305 55 (156) (265) Purchased options (586) (760) (634) 3,782 Futures (127) (120) 159 (2,448) Total interest-rate risk management derivatives fair value gains (losses) 631 175 1,023 (2,794) Mortgage commitment derivatives (860) (396) 616 (1,122) CRT-related derivatives 15 43 (27) 121 Other 11 6 8 37 Total derivatives not designated as hedges fair value gains (losses) (203) (172) 1,620 (3,758) Accrual of periodic cash settlements (1) (360) (329) (812) (505) Total ($563) ($501) $808 ($4,263) (1) Includes interest on variation margin on cleared interest-rate swaps.
Table - Gains and Losses on Fair Value Hedge	The table below presents the effects of fair value hedge accounting by condensed consolidated statements of comprehensive income (loss) line item, 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 10.3 - Gains and Losses on Fair Value Hedges 2Q 2021 2Q 2020 (In millions) Interest Income Interest Expense Interest Income 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: $15,230 ($10,463) $15,716 ($12,840) Interest contracts on mortgage loans held-for-investment: Gain (loss) on fair value hedging relationships: Hedged items 1,086 — 670 — Derivatives designated as hedging instruments (1,097) — (474) — Interest accruals on hedging instruments (139) — (122) — Discontinued hedge-related basis adjustments amortization (511) — (695) — Interest contracts on debt: Gain (loss) on fair value hedging relationships: Hedged items — (600) — 37 Derivatives designated as hedging instruments — 568 — (81) Interest accruals on hedging instruments — 248 — 187 Discontinued hedge-related basis adjustments amortization — 3 — 17 YTD 2021 YTD 2020 (In millions) Interest Income Interest Expense Interest Income 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: $29,132 ($20,726) $33,308 ($27,647) Interest contracts on mortgage loans held-for-investment: Gain (loss) on fair value hedging relationships: Hedged items (437) — 5,563 — Derivatives designated as hedging instruments 437 — (5,554) — Interest accruals on hedging instruments (253) — (185) — Discontinued hedge-related basis adjustments amortization (1,292) — (948) — Interest contracts on debt: Gain (loss) on fair value hedging relationships: Hedged items — 1,514 — (468) Derivatives designated as hedging instruments — (1,620) — 473 Interest accruals on hedging instruments — 503 — 287 Discontinued hedge-related basis adjustments amortization — 8 — 37
Table - Cumulative Basis Adjustments Due to Fair Value Hedging	The table below presents the cumulative basis adjustments and the carrying amounts of the hedged item by its respective balance sheet line item. Table 10.4 - Cumulative Basis Adjustments Due to Fair Value Hedging June 30, 2021 Carrying Amount Assets / (Liabilities) Cumulative Amount of Fair Value Hedging Basis Adjustments Included in the Carrying Amount Closed Portfolio Under the Last-of-Layer Method (In millions) Total Under the Last-of-Layer Method Discontinued - Hedge Related Total Amount by Amortized Cost Basis Designated Amount by UPB Mortgage loans held-for-investment $693,011 $3,388 ($224) $3,612 $72,555 $3,019 Debt (146,969) 1,048 — (30) — — December 31, 2020 Carrying Amount Assets / (Liabilities) Cumulative Amount of Fair Value Hedging Basis Adjustments Included in the Carrying Amount Closed Portfolio Under the Last-of-Layer Method (In millions) Total Under the Last-of-Layer Method Discontinued - Hedge Related Total Amount by Amortized Cost Basis Designated Amount by UPB Mortgage loans held-for-investment $478,077 $5,117 ($318) $5,435 $220,301 $9,112 Debt (176,512) (466) — (38) — —

Collateral and Offsetting of _2

Collateral and Offsetting of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Offsetting [Abstract]
Table - Offsetting of Financial Assets and Liabilities	The table below presents 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. Table 11.1 - Offsetting and Collateral Information of Financial Assets and Liabilities June 30, 2021 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 $6,955 ($5,088) ($1,405) $462 ($419) $43 Cleared and exchange-traded derivatives 116 (5) 45 156 — 156 Mortgage commitment derivatives 113 — — 113 — 113 Other 25 — — 25 — 25 Total derivatives 7,209 (5,093) (1,360) 756 (419) 337 Securities purchased under agreements to resell 118,317 (4,620) — 113,697 (113,697) — Total $125,526 ($9,713) ($1,360) $114,453 ($114,116) $337 Liabilities: Derivatives: OTC derivatives ($8,197) $5,088 $2,902 ($207) $— ($207) Cleared and exchange-traded derivatives (65) 5 32 (28) 28 — Mortgage commitment derivatives (210) — — (210) — (210) Other (62) — — (62) — (62) Total derivatives (8,534) 5,093 2,934 (507) 28 (479) Securities sold under agreements to repurchase (4,620) 4,620 — — — — Total ($13,154) $9,713 $2,934 ($507) $28 ($479) Referenced footnotes are included after the next table. December 31, 2020 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 $8,566 ($5,932) ($1,957) $677 ($648) $29 Cleared and exchange-traded derivatives 17 — 60 77 — 77 Mortgage commitment derivatives 388 — — 388 — 388 Other 63 — — 63 — 63 Total derivatives 9,034 (5,932) (1,897) 1,205 (648) 557 Securities purchased under agreements to resell 105,003 — — 105,003 (105,003) — Total $114,037 ($5,932) ($1,897) $106,208 ($105,651) $557 Liabilities: Derivatives: OTC derivatives ($8,812) $5,932 $2,759 ($121) $— ($121) Cleared and exchange-traded derivatives (37) — 26 (11) — (11) Mortgage commitment derivatives (759) — — (759) — (759) Other (63) — — (63) — (63) Total derivatives (9,671) 5,932 2,785 (954) — (954) Securities sold under agreements to repurchase — — — — — — Total ($9,671) $5,932 $2,785 ($954) $— ($954) (1) Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset.
Table - Offsetting of Financial Assets and Liabilities	The table below presents 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. Table 11.1 - Offsetting and Collateral Information of Financial Assets and Liabilities June 30, 2021 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 $6,955 ($5,088) ($1,405) $462 ($419) $43 Cleared and exchange-traded derivatives 116 (5) 45 156 — 156 Mortgage commitment derivatives 113 — — 113 — 113 Other 25 — — 25 — 25 Total derivatives 7,209 (5,093) (1,360) 756 (419) 337 Securities purchased under agreements to resell 118,317 (4,620) — 113,697 (113,697) — Total $125,526 ($9,713) ($1,360) $114,453 ($114,116) $337 Liabilities: Derivatives: OTC derivatives ($8,197) $5,088 $2,902 ($207) $— ($207) Cleared and exchange-traded derivatives (65) 5 32 (28) 28 — Mortgage commitment derivatives (210) — — (210) — (210) Other (62) — — (62) — (62) Total derivatives (8,534) 5,093 2,934 (507) 28 (479) Securities sold under agreements to repurchase (4,620) 4,620 — — — — Total ($13,154) $9,713 $2,934 ($507) $28 ($479) Referenced footnotes are included after the next table. December 31, 2020 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 $8,566 ($5,932) ($1,957) $677 ($648) $29 Cleared and exchange-traded derivatives 17 — 60 77 — 77 Mortgage commitment derivatives 388 — — 388 — 388 Other 63 — — 63 — 63 Total derivatives 9,034 (5,932) (1,897) 1,205 (648) 557 Securities purchased under agreements to resell 105,003 — — 105,003 (105,003) — Total $114,037 ($5,932) ($1,897) $106,208 ($105,651) $557 Liabilities: Derivatives: OTC derivatives ($8,812) $5,932 $2,759 ($121) $— ($121) Cleared and exchange-traded derivatives (37) — 26 (11) — (11) Mortgage commitment derivatives (759) — — (759) — (759) Other (63) — — (63) — (63) Total derivatives (9,671) 5,932 2,785 (954) — (954) Securities sold under agreements to repurchase — — — — — — Total ($9,671) $5,932 $2,785 ($954) $— ($954) (1) Excess cash collateral held is presented as a derivative liability, while excess cash collateral posted is presented as a derivative asset.
Table - Collateral in the Form of Securities Pledged	The table below summarizes 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 11.2 - Collateral in the Form of Securities Pledged June 30, 2021 (In millions) Derivatives Securities Sold Under Agreements to Repurchase Other (3) Total Cash equivalents (1) $— $569 $— $569 Debt securities of consolidated trusts (2) — — 335 335 Trading securities 1,888 4,054 1,536 7,478 Total securities pledged $1,888 $4,623 $1,871 $8,382 December 31, 2020 (In millions) Derivatives Securities Sold Under Agreements to Repurchase Other (3) Total Debt securities of consolidated trusts (2) $121 $— $345 $466 Trading securities 1,920 — 1,163 3,083 Total securities pledged $2,041 $— $1,508 $3,549 (1) Represents U.S. Treasury securities accounted for as cash equivalents. (2) Represents debt securities of consolidated trusts held by us in our mortgage-related 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 11.3 - Underlying Collateral Pledged June 30, 2021 (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 $2,875 $1,748 $— $— $4,623

Stockholders' Equity and Earn_2

Stockholders' Equity and Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Table - Changes in AOCI by Component, Net of Tax	The table below presents changes in AOCI after the effects of our federal statutory tax rate of 21% for the periods presented, related to available-for-sale securities, cash flow hedges, and our defined benefit plans. Table 12.1 - Changes in AOCI by Component, Net of Taxes 2Q 2021 (In millions) AOCI Related AOCI Related AOCI Related Total Beginning balance $415 ($196) $35 $254 Other comprehensive income before reclassifications 6 — — 6 Amounts reclassified from accumulated other comprehensive income (79) 8 (3) (74) Changes in AOCI by component (73) 8 (3) (68) Ending balance $342 ($188) $32 $186 YTD 2021 (In millions) AOCI Related AOCI Related AOCI Related Total Beginning balance $810 ($206) $39 $643 Other comprehensive income before reclassifications (99) — (1) (100) Amounts reclassified from accumulated other comprehensive income (369) 18 (6) (357) Changes in AOCI by component (468) 18 (7) (457) Ending balance $342 ($188) $32 $186 2Q 2020 (In millions) AOCI Related AOCI Related AOCI Related Total Beginning balance $1,056 ($231) $62 $887 Other comprehensive income before reclassifications 160 — — 160 Amounts reclassified from accumulated other comprehensive income (6) 11 (4) 1 Changes in AOCI by component 154 11 (4) 161 Ending balance $1,210 ($220) $58 $1,048 YTD 2020 (In millions) AOCI Related AOCI Related AOCI Related Total Beginning balance $618 ($244) $64 $438 Other comprehensive income before reclassifications 606 — 2 608 Amounts reclassified from accumulated other comprehensive income (14) 24 (8) 2 Changes in AOCI by component 592 24 (6) 610 Ending balance $1,210 ($220) $58 $1,048
Table - Reclassifications from AOCI to Net Income	The table below presents reclassifications from AOCI to net income, including the affected line items in our condensed consolidated statements of comprehensive income (loss). Table 12.2 - Reclassifications from AOCI to Net Income (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 AOCI related to available-for-sale securities Affected line items on the condensed consolidated statements of comprehensive income (loss): Investment gains (losses), net $99 $7 $467 $17 Income tax (expense) benefit (20) (1) (98) (3) Net of tax 79 6 369 14 AOCI related to cash flow hedge relationships Affected line items on the condensed consolidated statements of comprehensive income (loss): Interest expense (10) (14) (21) (30) Income tax (expense) benefit 2 3 3 6 Net of tax (8) (11) (18) (24) AOCI related to defined benefit plans Affected line items on the condensed consolidated statements of comprehensive income (loss): Salaries and employee benefits 4 5 8 10 Income tax (expense) benefit (1) (1) (2) (2) Net of tax 3 4 6 8 Total reclassifications in the period, net of tax $74 ($1) $357 ($2)
Table - Senior Preferred Stock	The table below provides a summary of our senior preferred stock outstanding at June 30, 2021 . Table 12.3 - Senior Preferred Stock ( In millions , except initial liquidation preference price per share) Shares Shares Total Initial Total Non-draw Adjustment Dates: September 8, 2008 1.00 1.00 $1.00 $1,000 $1,000 December 31, 2017 — — — N/A 3,000 September 30, 2019 — — — N/A 1,826 December 31, 2019 — — — N/A 1,848 March 31, 2020 — — — N/A 2,448 June 30, 2020 — — — N/A 382 September 30, 2020 — — — N/A 1,938 December 31, 2020 — — — N/A 2,449 March 31, 2021 — — — N/A 2,522 June 30, 2021 — — — N/A 2,378 Total non-draw adjustments 1.00 1.00 1.00 19,791 Draw Dates: November 24, 2008 — — — N/A 13,800 March 31, 2009 — — — N/A 30,800 June 30, 2009 — — — N/A 6,100 June 30, 2010 — — — N/A 10,600 September 30, 2010 — — — N/A 1,800 December 30, 2010 — — — N/A 100 March 31, 2011 — — — N/A 500 September 30, 2011 — — — N/A 1,479 December 30, 2011 — — — N/A 5,992 March 30, 2012 — — — N/A 146 June 29, 2012 — — — N/A 19 March 30, 2018 — — — N/A 312 Total draw adjustments — — — 71,648 Total senior preferred stock 1.00 1.00 $1.00 $91,439

Net Interest Income (Tables)

Net Interest Income (Tables)	6 Months Ended
	Jun. 30, 2021
Components of Net Interest Income [Abstract]
Components of Net Interest Income	The table below presents the components of net interest income per our condensed consolidated statements of comprehensive income (loss). Table 13.1 - Components of Net Interest Income (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Interest income Mortgage loans $14,590 $15,026 $27,845 $31,658 Investment securities 617 637 1,227 1,289 Other 23 53 60 361 Total interest income 15,230 15,716 29,132 33,308 Interest expense Debt securities of consolidated trusts held by third parties (10,032) (11,975) (19,788) (25,422) Debt of Freddie Mac: Short-term debt — (130) (2) (560) Long-term debt (431) (735) (936) (1,665) Total interest expense (10,463) (12,840) (20,726) (27,647) Net interest income 4,767 2,876 8,406 5,661 Benefit (provision) for credit losses 740 (705) 936 (1,938) Net interest income after benefit (provision) for credit losses $5,507 $2,171 $9,342 $3,723

Investment Gains (Losses), Net

Investment Gains (Losses), Net (Tables)	6 Months Ended
	Jun. 30, 2021
Investment Gains (Losses), Net [Abstract]
Table - Components of Investment Gains (Losses)	The table below presents the components of investment gains (losses), net on our condensed consolidated statements of comprehensive income (loss). Table 14.1 - Components of Investment Gains (Losses), Net (In millions) 2Q 2021 2Q 2020 YTD 2021 YTD 2020 Investment gains (losses), net: Mortgage loans gains (losses) $1,511 $1,046 $1,717 $2,218 Investment securities gains (losses) (330) 65 (837) 1,120 Debt gains (losses) 18 60 156 760 Derivative gains (losses) (563) (501) 808 (4,263) Investment gains (losses), net $636 $670 $1,844 ($165)

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Table - Segment Earnings and Reconciliation to GAAP Condensed Consolidated Statements of Comprehensive Income	The table below presents the financial results for our Single-family and Multifamily segments. Table 15.1 - Segment Financial Results 2Q 2021 Single-family Multifamily Total (In millions) Net interest income $4,460 $307 $4,767 Non-interest income (loss) Guarantee income 10 346 356 Investment gains (losses), net 137 499 636 Other income (loss) 108 (1) 107 Non-interest income (loss) 255 844 1,099 Net revenues 4,715 1,151 5,866 Benefit (provision) for credit losses 686 54 740 Non-interest expense Administrative expense (503) (148) (651) Credit enhancement expense (361) (8) (369) Benefit for (decrease in) credit enhancement recoveries (190) (3) (193) REO operations expense (7) — (7) Temporary Payroll Tax Cut Continuation Act of 2011 expense (570) — (570) Other expense (172) (7) (179) Non-interest expense (1,803) (166) (1,969) Income (loss) before income tax (expense) benefit 3,598 1,039 4,637 Income tax (expense) benefit (743) (215) (958) Net income (loss) 2,855 824 3,679 Other comprehensive income (loss), net of taxes and reclassification adjustments Changes in unrealized gains (losses) related to available-for-sale securities (79) 6 (73) Changes in unrealized gains (losses) related to cash flow hedge relationships 8 — 8 Changes in defined benefit plans (3) — (3) Total other comprehensive income (loss), net of taxes and reclassification adjustments (74) 6 (68) Comprehensive income (loss) $2,781 $830 $3,611 YTD 2021 Single-family Multifamily Total (In millions) Net interest income $7,768 $638 $8,406 Non-interest income (loss) Guarantee income 99 505 604 Investment gains (losses), net 437 1,407 1,844 Other income (loss) 260 25 285 Non-interest income (loss) 796 1,937 2,733 Net revenues 8,564 2,575 11,139 Benefit (provision) for credit losses 832 104 936 Non-interest expense Administrative expense (991) (299) (1,290) Credit enhancement expense (686) (18) (704) Benefit for (decrease in) credit enhancement recoveries (435) (15) (450) REO operations expense (15) — (15) Temporary Payroll Tax Cut Continuation Act of 2011 expense (1,104) — (1,104) Other expense (381) (13) (394) Non-interest expense (3,612) (345) (3,957) Income (loss) before income tax (expense) benefit 5,784 2,334 8,118 Income tax (expense) benefit (1,191) (481) (1,672) Net income (loss) 4,593 1,853 6,446 Other comprehensive income (loss), net of taxes and reclassification adjustments Changes in unrealized gains (losses) related to available-for-sale securities (414) (54) (468) Changes in unrealized gains (losses) related to cash flow hedge relationships 18 — 18 Changes in defined benefit plans (6) (1) (7) Total other comprehensive income (loss), net of taxes and reclassification adjustments (402) (55) (457) Comprehensive income (loss) $4,191 $1,798 $5,989 2Q 2020 Single-family Multifamily Total (In millions) Net interest income $2,590 $286 $2,876 Non-interest income (loss) Guarantee income 55 414 469 Investment gains (losses), net (61) 731 670 Other income (loss) 83 51 134 Non-interest income (loss) 77 1,196 1,273 Net revenues 2,667 1,482 4,149 Benefit (provision) for credit losses (624) (81) (705) Non-interest expense Administrative expense (477) (124) (601) Credit enhancement expense (228) (5) (233) Benefit for (decrease in) credit enhancement recoveries 219 2 221 REO operations expense (14) — (14) Temporary Payroll Tax Cut Continuation Act of 2011 expense (442) — (442) Other expense (131) (9) (140) Non-interest expense (1,073) (136) (1,209) Income (loss) before income tax (expense) benefit 970 1,265 2,235 Income tax (expense) benefit (198) (260) (458) Net income (loss) 772 1,005 1,777 Other comprehensive income (loss), net of taxes and reclassification adjustments Changes in unrealized gains (losses) related to available-for-sale securities 95 59 154 Changes in unrealized gains (losses) related to cash flow hedge relationships 11 — 11 Changes in defined benefit plans (3) (1) (4) Total other comprehensive income (loss), net of taxes and reclassification adjustments 103 58 161 Comprehensive income (loss) $875 $1,063 $1,938 YTD 2020 Single-family Multifamily Total (In millions) Net interest income $5,075 $586 $5,661 Non-interest income (loss) Guarantee income 42 804 846 Investment gains (losses), net (37) (128) (165) Other income (loss) 141 88 229 Non-interest income (loss) 146 764 910 Net revenues 5,221 1,350 6,571 Benefit (provision) for credit losses (1,790) (148) (1,938) Non-interest expense Administrative expense (944) (244) (1,188) Credit enhancement expense (455) (9) (464) Benefit for (decrease in) credit enhancement recoveries 658 30 688 REO operations expense (99) — (99) Temporary Payroll Tax Cut Continuation Act of 2011 expense (874) — (874) Other expense (229) (14) (243) Non-interest expense (1,943) (237) (2,180) Income (loss) before income tax (expense) benefit 1,488 965 2,453 Income tax (expense) benefit (305) (198) (503) Net income (loss) 1,183 767 1,950 Other comprehensive income (loss), net of taxes and reclassification adjustments Changes in unrealized gains (losses) related to available-for-sale securities 469 123 592 Changes in unrealized gains (losses) related to cash flow hedge relationships 24 — 24 Changes in defined benefit plans (5) (1) (6) Total other comprehensive income (loss), net of taxes and reclassification adjustments 488 122 610 Comprehensive income (loss) $1,671 $889 $2,560
Reconciliation of Assets from Segment to Consolidated	The table below presents total assets for our Single-family and Multifamily segments. Table 15.2 - Segment Assets (In millions) June 30, 2021 December 31, 2020 Single-family $2,563,589 $2,326,426 Multifamily 398,427 388,347 Total segment assets 2,962,016 2,714,773 Reconciling items (1) (119,874) (87,358) Total assets per condensed consolidated balance sheets $2,842,142 $2,627,415

Concentration of Credit and O_2

Concentration of Credit and Other Risks (Tables)	6 Months Ended
	Jun. 30, 2021
Risks and Uncertainties [Abstract]
Table - Concentration of Credit Risk	The table below summarizes the concentration by loan portfolio and geographic area of the approximately $2.6 trillion and $2.3 trillion UPB of our single-family mortgage portfolio as of June 30, 2021 and December 31, 2020, respectively. See Note 4, Note 6, and Note 7 for more information about credit risk associated with loans and mortgage-related securities that we hold or guarantee. Table 16.1 - Concentration of Credit Risk of Our Single-Family Mortgage Portfolio June 30, 2021 December 31, 2020 YTD 2021 (1) YTD 2020 (1) (Dollars in billions) Portfolio UPB (2) % of Portfolio SDQ Rate Portfolio UPB (2) % of Portfolio SDQ Rate Credit Losses Amount % of Credit Losses (3) Credit Losses Amount % of Credit Losses Region: (4) West $800 31 % 1.65 % $720 31 % 2.41 % $— NM $— 6 % Northeast 608 24 2.30 549 24 3.16 — NM 0.1 38 North Central 385 15 1.52 357 15 2.06 — NM 0.1 27 Southeast 412 16 2.02 375 16 2.95 — NM 0.1 20 Southwest 358 14 1.82 325 14 2.59 — NM — 9 Total $2,563 100 % 1.86 $2,326 100 % 2.64 $— NM $0.3 100 % State: California $472 19 % 1.80 $424 18 % 2.64 $— NM $— 4 % Texas 158 6 2.13 145 6 3.11 — NM — 3 Florida 149 6 2.42 135 6 3.70 — NM — 11 New York 111 4 3.43 103 4 4.56 — NM — 10 Illinois 102 4 2.34 96 4 2.96 — NM 0.1 14 All other 1,571 61 1.66 1,423 62 2.34 — NM 0.2 58 Total $2,563 100 % 1.86 $2,326 100 % 2.64 $— NM $0.3 100 % (1) Excludes credit losses related to charge-offs of accrued interest receivables. (2) Excludes $476 million and $505 million in UPB of loans underlying certain securitization products for which data was not available as of June 30, 2021 and December 31, 2020, respectively. (3) NM - not meaningful due to the credit losses amount rounding to zero. (4) 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). We acquire a significant portion of our single-family and multifamily loan purchase and guarantee volume from several large sellers. Single-family top 10 sellers provided 49% and 46% of our purchase and guarantee volume during YTD 2021 and YTD 2020, respectively. None of our single-family sellers provided 10% or more of our purchase and guarantee volume during these periods. The table below summarizes the concentration of multifamily sellers who provided 10% or more of our purchase and guarantee volume. Table 16.3 - Multifamily Seller Concentration Multifamily Sellers YTD 2021 YTD 2020 Berkadia Commercial Mortgage LLC 15 % 15 % CBRE Capital Markets, Inc. 15 14 Other top 10 sellers 50 48 Top 10 multifamily sellers 80 % 77 % Table 16.4 - Servicer Concentration Single-family Servicers June 30, 2021 (1) December 31, 2020 (1) Wells Fargo Bank, N.A. 9 % 11 % Other top 10 servicers 38 38 Top 10 single-family servicers 47 % 49 % Multifamily Servicers (2) June 30, 2021 December 31, 2020 CBRE Capital Markets, Inc. 16 % 17 % Berkadia Commercial Mortgage LLC 13 13 JLL Real Estate Capital LLC 11 11 Other top 10 servicers 41 39 Top 10 multifamily servicers 81 % 80 % (1) Percentage of servicing volume is based on the total single-family mortgage portfolio, which includes loans where we do not exercise servicing control. However, loans where we do not control servicing are not included for purposes of determining the concentration of servicers who serviced more than 10% of our single-family mortgage portfolio. (2) Represents multifamily primary servicers. 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. ("Genworth") announced that it had entered into an agreement to be acquired by China Oceanwide Holdings Group Co., Ltd. ("Oceanwide"). Because Genworth Mortgage Insurance Corporation, a subsidiary of Genworth, is an approved mortgage insurer, Freddie Mac evaluated the planned acquisition and approved Oceanwide's control of Genworth Mortgage Insurance Corporation. On April 6, 2021, Genworth announced that it had terminated its merger agreement with Oceanwide. Table 16.5 - Mortgage Insurer Concentration Mortgage Insurance Coverage (2) Mortgage Insurer Credit Rating (1) June 30, 2021 December 31, 2020 Arch Mortgage Insurance Company A 20 % 20 % Mortgage Guaranty Insurance Corporation BBB+ 19 18 Radian Guaranty Inc. BBB+ 18 19 Essent Guaranty, Inc. BBB+ 15 16 Genworth Mortgage Insurance Corporation BB+ 15 15 National Mortgage Insurance Corporation BBB 12 10 Total 99 % 98 % (1) Ratings are for the corporate entity to which we have the greatest exposure. Latest rating available as of June 30, 2021. Represents the lower of S&P and Moody’s credit ratings stated in terms of the S&P equivalent.
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 mortgage portfolio. The table presents each higher-risk category in isolation. A single loan may fall within more than one category (for example, a loan with an original LTV ratio greater than 90% may also have a credit score at origination less than 620). Loans with a combination of these attributes will have an even higher risk of delinquency than those with an individual attribute. Table 16.2 - Certain Higher Risk Categories in Our Single-Family Mortgage Portfolio % of Portfolio (1) SDQ Rate (1) (% of portfolio based on UPB) June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Alt-A 1 % 1 % 9.07 % 10.66 % Original LTV ratio greater than 90% (2) 13 15 3.31 4.25 Lower credit scores at origination (less than 620) 1 1 9.45 11.00 (1) Excludes $476 million and $505 million in UPB of loans underlying certain securitization products for which data was not available as of June 30, 2021 and December 31, 2020, respectively.

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Table - Assets and Liabilities Measured at Fair Value on a Recurring Basis	The table below presents 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 17.1 - Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2021 (In millions) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Assets: Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $— $3,092 $476 $— $3,568 Non-agency and other — 1 998 — 999 Total available-for-sale securities, at fair value — 3,093 1,474 — 4,567 Trading, at fair value: Mortgage-related securities: Agency — 18,185 3,523 — 21,708 Non-mortgage-related securities 32,269 1,014 — — 33,283 Total trading securities, at fair value 32,269 19,199 3,523 — 54,991 Total investments in securities 32,269 22,292 4,997 — 59,558 Mortgage loans: Held-for-sale, at fair value — 6,811 — — 6,811 Derivative assets, net 17 6,682 25 — 6,724 Netting adjustments (1) — — — (5,968) (5,968) Total derivative assets, net 17 6,682 25 (5,968) 756 Other assets: Guarantee assets, at fair value — — 5,869 — 5,869 Non-derivative held-for-sale purchase commitments, at fair value — 141 — — 141 All other, at fair value — — 70 — 70 Total other assets — 141 5,939 — 6,080 Total assets carried at fair value on a recurring basis $32,286 $35,926 $10,961 ($5,968) $73,205 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $1 $251 $— $252 Debt of Freddie Mac, at fair value — 1,704 117 — 1,821 Derivative liabilities, net — 8,048 23 — 8,071 Netting adjustments (1) — — — (7,564) (7,564) Total derivative liabilities, net — 8,048 23 (7,564) 507 Total liabilities carried at fair value on a recurring basis $— $9,753 $391 ($7,564) $2,580 Referenced footnote is included after the prior period table. December 31, 2020 (In millions) Level 1 Level 2 Level 3 Netting Adjustment (1) Total Assets: Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $— $13,778 $526 $— $14,304 Non-agency and other — 1 1,062 — 1,063 Total available-for-sale securities, at fair value — 13,779 1,588 — 15,367 Trading, at fair value: Mortgage-related securities: Agency — 14,246 3,258 — 17,504 Non-agency — — 1 — 1 Total mortgage-related securities — 14,246 3,259 — 17,505 Non-mortgage-related securities 26,255 698 — — 26,953 Total trading securities, at fair value 26,255 14,944 3,259 — 44,458 Total investments in securities 26,255 28,723 4,847 — 59,825 Mortgage loans: Held-for-sale, at fair value — 14,199 — — 14,199 Derivative assets, net — 8,516 63 — 8,579 Netting adjustments (1) — — — (7,374) (7,374) Total derivative assets, net — 8,516 63 (7,374) 1,205 Other assets: Guarantee assets, at fair value — — 5,509 — 5,509 Non-derivative held-for-sale purchase commitments, at fair value — 158 — — 158 All other, at fair value — — 108 — 108 Total other assets — 158 5,617 — 5,775 Total assets carried at fair value on a recurring basis $26,255 $51,596 $10,527 ($7,374) $81,004 Liabilities: Debt securities of consolidated trusts held by third parties, at fair value $— $2 $203 $— $205 Debt of Freddie Mac, at fair value — 2,267 120 — 2,387 Derivative liabilities, net — 9,132 16 — 9,148 Netting adjustments (1) — — — (8,194) (8,194) Total derivative liabilities, net — 9,132 16 (8,194) 954 Other liabilities: Non-derivative held-for-sale purchase commitments, at fair value — 1 — — 1 All other, at fair value — — 3 — 3 Total other liabilities — 1 3 — 4 Total liabilities carried at fair value on a recurring basis $— $11,402 $342 ($8,194) $3,550 (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 table below presents 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 table also presents gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized on our condensed consolidated statements of comprehensive income (loss) for Level 3 assets and liabilities. Table 17.2 - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs 2Q 2021 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $801 $— $1 $— $— ($296) ($30) $— $— $476 $— $— Non-agency and other 1,035 5 8 — — — (50) — — 998 6 7 Total available-for-sale mortgage-related securities 1,836 5 9 — — (296) (80) — — 1,474 6 7 Trading, at fair value: Mortgage-related securities: Agency 3,061 (170) — 737 — — (23) — (82) 3,523 (177) — Non-agency 1 (1) — — — — — — — — — — Total trading mortgage-related securities 3,062 (171) — 737 — — (23) — (82) 3,523 (177) — Derivative assets 30 (5) — — — — — — — 25 (5) — Other assets: Guarantee assets 5,688 5 — — 416 — (240) — — 5,869 48 — All other, at fair value 115 (39) — 5 4 (9) (6) — — 70 (39) — Total other assets 5,803 (34) — 5 420 (9) (246) — — 5,939 9 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $260 ($13) $— $— $35 $— ($31) $— $— $251 ($12) $— Debt of Freddie Mac, at fair value 120 (3) — — — — — — — 117 (2) — Derivative liabilities 34 (8) — — — — (3) — — 23 (11) — All other, at fair value — (1) — 1 — — — — — — (1) — Referenced footnotes are included after the prior period table. YTD 2021 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $526 $— ($5) $— $— $— ($45) $— $— $476 $— ($4) Non-agency and other 1,062 12 9 — — — (85) — — 998 12 7 Total available-for-sale mortgage-related securities 1,588 12 4 — — — (130) — — 1,474 12 3 Trading, at fair value: Mortgage-related securities: Agency 3,258 (355) — 1,112 — (269) (43) — (180) 3,523 (364) — Non-agency 1 (1) — — — — — — — — — — Total trading mortgage-related securities 3,259 (356) — 1,112 — (269) (43) — (180) 3,523 (364) — Derivative assets 63 (38) — — — — — — — 25 (38) — Other assets: Guarantee asset 5,509 (83) — — 905 — (462) — — 5,869 (79) — All other, at fair value 108 (29) — 1 10 (9) (11) — — 70 (29) — Total other assets 5,617 (112) — 1 915 (9) (473) — — 5,939 (108) — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $203 ($10) $— $— $88 $— ($30) $— $— $251 ($8) $— Other debt, at fair value 120 — — — 1 — (4) — — 117 — — Derivative liabilities 16 11 — — 2 — (6) — — 23 5 — All other, at fair value 3 (5) — 2 — — — — — — (5) — 2Q 2020 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $650 $— $8 $197 $— ($10) ($31) $— $— $814 $— $6 Non-agency and other 1,101 4 41 — — — (40) — — 1,106 4 32 Total available-for-sale mortgage-related securities 1,751 4 49 197 — (10) (71) — — 1,920 4 38 Trading, at fair value: Mortgage-related securities: Agency 2,544 (53) — 742 — (170) (11) — — 3,052 (49) — Non-agency 1 — — — — — — — — 1 — — Total trading mortgage-related securities 2,545 (53) — 742 — (170) (11) — — 3,053 (49) — Derivative assets 63 (1) — — — — — — — 62 51 — Other assets: Guarantee assets 4,565 163 — — 289 — (193) — — 4,824 163 — All other, at fair value 106 (3) — (6) 6 — 11 — — 114 (3) — Total other assets 4,671 160 — (6) 295 — (182) — — 4,938 160 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $199 $3 $— $— $— $— $— $— $— $202 $3 $— Debt of Freddie Mac, at fair value 151 1 — — 1 — (7) — (23) 123 1 — Derivative liabilities 24 (5) — — — — (2) — — 17 (28) — All other, at fair value 1 — — — — — — — — 1 — — YTD 2020 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $1,960 $12 $46 $197 $— ($218) ($88) $— ($1,095) $814 $— $4 Non-agency and other 1,267 7 (86) — — — (82) — — 1,106 7 (68) Total available-for-sale mortgage-related securities 3,227 19 (40) 197 — (218) (170) — (1,095) 1,920 7 (64) Trading, at fair value: Mortgage-related securities: Agency 2,709 (37) — 923 — (104) (42) — (397) 3,052 (44) — Non-agency 1 — — — — — — — — 1 — — Total trading mortgage-related securities 2,710 (37) — 923 — (104) (42) — (397) 3,053 (44) — Derivative assets 16 45 — — 1 — — — — 62 45 — Other assets: Guarantee asset 4,426 262 — — 512 — (376) — — 4,824 262 — All other, at fair value 120 (11) — (6) 12 (8) 7 — — 114 (11) — Total other assets 4,546 251 — (6) 524 (8) (369) — — 4,938 251 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $203 ($1) $— $— $— $— $— $— $— $202 ($1) $— Other debt, at fair value 129 — — — 2 — (8) — — 123 — — Derivative liabilities 37 (14) — — 2 — (8) — — 17 (22) — All other, at fair value 1 — — — — — — — — 1 — — (1) Transfers out of Level 3 during 2Q 2021, YTD 2021, 2Q 2020, and YTD 2020 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. (2) 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 June 30, 2021 and June 30, 2020, respectively. This amount includes any allowance for credit losses recorded on available-for-sale securities and amortization of basis adjustments.
Table - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs	The table below presents 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 table also presents gains and losses due to changes in fair value, including both realized and unrealized gains and losses, recognized on our condensed consolidated statements of comprehensive income (loss) for Level 3 assets and liabilities. Table 17.2 - Fair Value Measurements of Assets and Liabilities Using Significant Unobservable Inputs 2Q 2021 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $801 $— $1 $— $— ($296) ($30) $— $— $476 $— $— Non-agency and other 1,035 5 8 — — — (50) — — 998 6 7 Total available-for-sale mortgage-related securities 1,836 5 9 — — (296) (80) — — 1,474 6 7 Trading, at fair value: Mortgage-related securities: Agency 3,061 (170) — 737 — — (23) — (82) 3,523 (177) — Non-agency 1 (1) — — — — — — — — — — Total trading mortgage-related securities 3,062 (171) — 737 — — (23) — (82) 3,523 (177) — Derivative assets 30 (5) — — — — — — — 25 (5) — Other assets: Guarantee assets 5,688 5 — — 416 — (240) — — 5,869 48 — All other, at fair value 115 (39) — 5 4 (9) (6) — — 70 (39) — Total other assets 5,803 (34) — 5 420 (9) (246) — — 5,939 9 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $260 ($13) $— $— $35 $— ($31) $— $— $251 ($12) $— Debt of Freddie Mac, at fair value 120 (3) — — — — — — — 117 (2) — Derivative liabilities 34 (8) — — — — (3) — — 23 (11) — All other, at fair value — (1) — 1 — — — — — — (1) — Referenced footnotes are included after the prior period table. YTD 2021 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $526 $— ($5) $— $— $— ($45) $— $— $476 $— ($4) Non-agency and other 1,062 12 9 — — — (85) — — 998 12 7 Total available-for-sale mortgage-related securities 1,588 12 4 — — — (130) — — 1,474 12 3 Trading, at fair value: Mortgage-related securities: Agency 3,258 (355) — 1,112 — (269) (43) — (180) 3,523 (364) — Non-agency 1 (1) — — — — — — — — — — Total trading mortgage-related securities 3,259 (356) — 1,112 — (269) (43) — (180) 3,523 (364) — Derivative assets 63 (38) — — — — — — — 25 (38) — Other assets: Guarantee asset 5,509 (83) — — 905 — (462) — — 5,869 (79) — All other, at fair value 108 (29) — 1 10 (9) (11) — — 70 (29) — Total other assets 5,617 (112) — 1 915 (9) (473) — — 5,939 (108) — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2021 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2021 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $203 ($10) $— $— $88 $— ($30) $— $— $251 ($8) $— Other debt, at fair value 120 — — — 1 — (4) — — 117 — — Derivative liabilities 16 11 — — 2 — (6) — — 23 5 — All other, at fair value 3 (5) — 2 — — — — — — (5) — 2Q 2020 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $650 $— $8 $197 $— ($10) ($31) $— $— $814 $— $6 Non-agency and other 1,101 4 41 — — — (40) — — 1,106 4 32 Total available-for-sale mortgage-related securities 1,751 4 49 197 — (10) (71) — — 1,920 4 38 Trading, at fair value: Mortgage-related securities: Agency 2,544 (53) — 742 — (170) (11) — — 3,052 (49) — Non-agency 1 — — — — — — — — 1 — — Total trading mortgage-related securities 2,545 (53) — 742 — (170) (11) — — 3,053 (49) — Derivative assets 63 (1) — — — — — — — 62 51 — Other assets: Guarantee assets 4,565 163 — — 289 — (193) — — 4,824 163 — All other, at fair value 106 (3) — (6) 6 — 11 — — 114 (3) — Total other assets 4,671 160 — (6) 295 — (182) — — 4,938 160 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $199 $3 $— $— $— $— $— $— $— $202 $3 $— Debt of Freddie Mac, at fair value 151 1 — — 1 — (7) — (23) 123 1 — Derivative liabilities 24 (5) — — — — (2) — — 17 (28) — All other, at fair value 1 — — — — — — — — 1 — — YTD 2020 Balance, Total Realized/Unrealized Gains (Losses) Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized Gains (Losses), Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 (In millions) Included in Included in Other Assets Investment securities: Available-for-sale, at fair value: Mortgage-related securities: Agency $1,960 $12 $46 $197 $— ($218) ($88) $— ($1,095) $814 $— $4 Non-agency and other 1,267 7 (86) — — — (82) — — 1,106 7 (68) Total available-for-sale mortgage-related securities 3,227 19 (40) 197 — (218) (170) — (1,095) 1,920 7 (64) Trading, at fair value: Mortgage-related securities: Agency 2,709 (37) — 923 — (104) (42) — (397) 3,052 (44) — Non-agency 1 — — — — — — — — 1 — — Total trading mortgage-related securities 2,710 (37) — 923 — (104) (42) — (397) 3,053 (44) — Derivative assets 16 45 — — 1 — — — — 62 45 — Other assets: Guarantee asset 4,426 262 — — 512 — (376) — — 4,824 262 — All other, at fair value 120 (11) — (6) 12 (8) 7 — — 114 (11) — Total other assets 4,546 251 — (6) 524 (8) (369) — — 4,938 251 — Balance, Total Realized/Unrealized (Gains) Losses Purchases Issues Sales Settlements, Transfers (1) Transfers (1) Balance, Change in Unrealized (Gains) Losses Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2020 (2) Change in Unrealized (Gains) Losses, Net of Tax, Included in OCI Related to Assets and Liabilities Still Held as of June 30, 2020 Included in Included in Other Liabilities Debt securities of consolidated trusts held by third parties, at fair value $203 ($1) $— $— $— $— $— $— $— $202 ($1) $— Other debt, at fair value 129 — — — 2 — (8) — — 123 — — Derivative liabilities 37 (14) — — 2 — (8) — — 17 (22) — All other, at fair value 1 — — — — — — — — 1 — — (1) Transfers out of Level 3 during 2Q 2021, YTD 2021, 2Q 2020, and YTD 2020 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. (2) 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 June 30, 2021 and June 30, 2020, respectively. This amount includes any allowance for credit losses recorded on available-for-sale securities and amortization of basis adjustments.
Table - Quantitative Information about Recurring Level 3 Fair Value Measurements	The table below provides valuation techniques, the range, and the weighted average of significant unobservable inputs for Level 3 assets and liabilities measured on our condensed consolidated balance sheets at fair value on a recurring basis. Table 17.3 - Quantitative Information about Recurring Level 3 Fair Value Measurements June 30, 2021 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions , except for certain unobservable inputs as shown) Type Range Weighted Average (2) Assets Available-for-sale, at fair value Mortgage-related securities Agency $379 Discounted cash flows OAS 89 - 89 bps 89 bps 97 Other Non-agency and other 855 Median of external sources External pricing sources $66.4 - $79.5 $72.4 143 Other Trading, at fair value Mortgage-related securities Agency 2,879 Single external source External pricing sources $0.0 - $7,971.4 $596.0 644 Other Guarantee assets, at fair value 5,455 Discounted cash flows OAS 17 - 186 bps 45 bps 414 Other Insignificant Level 3 assets (1) 95 Total level 3 assets $10,961 Liabilities Debt securities of consolidated trusts held by third parties, at fair value $172 Single external source External pricing sources $99.9 - $106.9 $102.1 79 Other Insignificant Level 3 liabilities (1) 140 Total level 3 liabilities $391 Referenced footnotes are included after the next table. December 31, 2020 Level 3 Predominant Unobservable Inputs (Dollars in millions, except for certain unobservable inputs as shown) Type Range Weighted Average (2) Assets Available-for-sale, at fair value Mortgage-related securities Agency $410 Discounted cash flows OAS 90 - 90 bps 90 bps 116 Other Non-agency and other 875 Median of external sources External pricing sources $67.1 - $79.1 $72.8 187 Other Trading, at fair value Mortgage-related securities Agency 2,204 Single external source External pricing sources $0.0 - $8,894.6 $947.8 472 Discounted cash flows OAS (951) - 2,910 bps 834 bps 583 Other Guarantee assets, at fair value 5,195 Discounted cash flows OAS 15 - 186 bps 38 bps 314 Other Insignificant Level 3 assets (1) 171 Total level 3 assets $10,527 Liabilities Debt securities of consolidated trusts held by third parties, at fair value $203 Single external source External pricing sources $97.3 - $107.0 $101.7 Insignificant Level 3 liabilities (1) 139 Total level 3 liabilities $342 (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. (2) Unobservable inputs were weighted primarily by the relative fair value of the financial instruments.
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 17.4 - Assets Measured at Fair Value on a Non-Recurring Basis June 30, 2021 December 31, 2020 (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) $— $32 $1,443 $1,475 $— $6 $2,241 $2,247 (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 table below provides valuation techniques, the range, and the weighted average of significant unobservable inputs for Level 3 assets measured on our condensed consolidated balance sheets at fair value on a non-recurring basis. Table 17.5 - Quantitative Information About Non-Recurring Level 3 Fair Value Measurements June 30, 2021 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions, except for unobservable inputs as shown) Type Range Weighted Average (1) Non-recurring fair value measurements Mortgage loans $1,443 Internal model Historical sales proceeds $3,150 - $622,325 $209,088 Internal model Housing sales index 72 - 637 bps 127 bps Median of external sources External pricing sources $60.0 - $106.3 $95.2 December 31, 2020 Level 3 Fair Value Predominant Valuation Technique(s) Unobservable Inputs ( Dollars in millions, except for unobservable inputs as shown) Type Range Weighted Average (1) Non-recurring fair value measurements Mortgage loans $2,241 Internal model Historical sales proceeds $3,001 - $696,004 $202,539 Internal model Housing sales index 66 - 345 bps 119 bps Median of external sources External pricing sources $59.5 - $104.0 $92.1 (1) Unobservable inputs were weighted primarily by the relative fair value of the financial instruments.
Table - Fair Value of Financial Instruments	The table below presents the carrying value and estimated fair value of our financial instruments. For certain types of financial instruments, such as cash and cash equivalents, 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 17.6 - Fair Value of Financial Instruments June 30, 2021 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 $11,171 $11,171 $— $— $— $11,171 Securities purchased under agreements to resell Amortized cost 113,697 — 118,317 — (4,620) 113,697 Investment securities: Available-for-sale, at fair value FV - OCI 4,567 — 3,093 1,474 — 4,567 Trading, at fair value FV - NI 54,991 32,269 19,199 3,523 — 54,991 Total investment securities 59,558 32,269 22,292 4,997 — 59,558 Mortgage loans: Loans held by consolidated trusts 2,543,467 — 2,351,354 234,749 — 2,586,103 Loans held by Freddie Mac 64,756 — 36,783 30,364 — 67,147 Total mortgage loans Various (3) 2,608,223 — 2,388,137 265,113 — 2,653,250 Derivative assets, net FV - NI 756 17 6,682 25 (5,968) 756 Guarantee assets FV - NI 5,869 — — 5,873 — 5,873 Non-derivative purchase commitments, at fair value FV - NI 141 — 226 — — 226 Advances to lenders Amortized cost 5,045 — — 5,045 — 5,045 Secured lending Amortized cost 1,593 — 1,391 56 — 1,447 Total financial assets $2,806,053 $43,457 $2,537,045 $281,109 ($10,588) $2,851,023 Financial Liabilities Debt: Debt securities of consolidated trusts held by third parties $2,575,653 $— $2,607,642 $796 $— $2,608,438 Debt of Freddie Mac 227,102 — 233,566 3,965 (4,620) 232,911 Total debt Various (4) 2,802,755 — 2,841,208 4,761 (4,620) 2,841,349 Derivative liabilities, net FV - NI 507 — 8,048 23 (7,564) 507 Guarantee obligations Amortized cost 5,422 — — 6,232 — 6,232 Non-derivative purchase commitments, at fair value FV - NI 12 — — 53 — 53 Total financial liabilities $2,808,696 $— $2,849,256 $11,069 ($12,184) $2,848,141 (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 June 30, 2021, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $2.6 trillion, $10.7 billion, and $6.8 billion, respectively. (4) As of June 30, 2021, the GAAP carrying amounts measured at amortized cost and FV - NI were $2.8 trillion and $2.1 billion, respectively. December 31, 2020 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 $23,889 $23,889 $— $— $— $23,889 Securities purchased under agreements to resell Amortized cost 105,003 — 105,003 — — 105,003 Investment securities: Available-for-sale, at fair value FV - OCI 15,367 — 13,779 1,588 — 15,367 Trading, at fair value FV - NI 44,458 26,255 14,944 3,259 — 44,458 Total investment securities 59,825 26,255 28,723 4,847 — 59,825 Mortgage loans: Loans held by consolidated trusts 2,273,347 — 2,080,687 262,309 — 2,342,996 Loans held by Freddie Mac 110,541 — 76,917 36,578 — 113,495 Total mortgage loans Various (3) 2,383,888 — 2,157,604 298,887 — 2,456,491 Derivative assets, net FV - NI 1,205 — 8,516 63 (7,374) 1,205 Guarantee assets FV - NI 5,509 — — 5,515 — 5,515 Non-derivative purchase commitments, at fair value FV - NI 158 — 246 — — 246 Advances to lenders Amortized cost 4,162 — — 4,162 — 4,162 Secured lending Amortized cost 1,680 — 1,427 89 — 1,516 Total financial assets $2,585,319 $50,144 $2,301,519 $313,563 ($7,374) $2,657,852 Financial Liabilities Debt: Debt securities of consolidated trusts held by third parties $2,308,176 $— $2,382,157 $852 $— $2,383,009 Debt of Freddie Mac 284,370 — 286,634 4,088 — 290,722 Total debt Various (4) 2,592,546 — 2,668,791 4,940 — 2,673,731 Derivative liabilities, net FV - NI 954 — 9,132 16 (8,194) 954 Guarantee obligations Amortized cost 5,050 — — 5,378 — 5,378 Non-derivative purchase commitments, at fair value FV - NI 20 — 1 143 — 144 Total financial liabilities $2,598,570 $— $2,677,924 $10,477 ($8,194) $2,680,207 (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, 2020, the GAAP carrying amounts measured at amortized cost, lower-of-cost-or-fair-value, and FV - NI were $2.4 trillion, $19.5 billion, and $14.2 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 debt of Freddie Mac held by third parties with a fair value of $233 million and $173 million and multifamily held-for-sale loan purchase commitments with a net fair value of $141 million and $157 million, as of June 30, 2021 and December 31, 2020, respectively. Table 17.7 - Difference between Fair Value and UPB for Certain Financial Instruments with Fair Value Option Elected June 30, 2021 December 31, 2020 (In millions) Multifamily Held-For-Sale Loans Debt of Freddie Mac - Debt Securities of Consolidated Trusts Held by Third Parties Multifamily Held-For-Sale Loans Debt of Freddie Mac - Debt Securities of Consolidated Trusts Held by Third Parties Fair value $6,811 $1,668 $172 $14,199 $2,216 $203 UPB 6,424 1,637 169 13,400 2,189 200 Difference $387 $31 $3 $799 $27 $3 The table below presents the changes in fair value included in non-interest income (loss) in our condensed consolidated statements of comprehensive income (loss), related to items for which we have elected the fair value option. Table 17.8 - Changes in Fair Value Under the Fair Value Option Election 2Q 2021 2Q 2020 YTD 2021 YTD 2020 (In millions) Gains (Losses) Gains (Losses) Multifamily held-for-sale loans $221 $313 ($230) $951 Multifamily held-for-sale loan purchase commitments 342 650 537 1,182 Debt of Freddie Mac - long term 22 (70) 30 478 Debt securities of consolidated trusts held by third parties 13 — 9 4

Regulatory Capital (Tables)

Regulatory Capital (Tables)	6 Months Ended
	Jun. 30, 2021
Mortgage Banking [Abstract]
Table - Net Worth and Minimum Capital	The table below summarizes our net worth and estimated core capital and minimum capital levels reported to FHFA. Table 19.1 - Net Worth and Minimum Capital (In millions) June 30, 2021 December 31, 2020 GAAP net worth (deficit) $22,402 $16,413 Core capital (deficit) (1)(2) (50,432) (56,878) Less: Minimum capital (1) 23,549 22,694 Minimum capital surplus (deficit) (1) ($73,981) ($79,572) (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 senior preferred stock) as these items do not meet the statutory definition of core capital.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - segment	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Number of reportable segments	2	3

Conservatorship and Related M_2

Conservatorship and Related Matters (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	81 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2022	Jun. 30, 2022	Sep. 30, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Senior preferred stock	$ 91,400	$ 89,100	$ 91,400	$ 91,400
Net worth increase	3,600	$ 2,400
Maximum limit of the UPB of mortgage-related investments portfolio	225,000		225,000	225,000
Amount of mortgages that we may own in the portfolio	250,000		250,000	250,000
UPB of mortgage-related investments portfolio	124,100		124,100	124,100
Ten percent of notional amount of IO securities	10,800		10,800	10,800
Agency MBS Maximum	50,000		50,000	50,000
CMO Maximum	0		0	0
Funding available under Purchase Agreement	140,200		140,200	140,200
Forecast
Related Party Transaction [Line Items]
Agency MBS Maximum						$ 20,000
CSS
Related Party Transaction [Line Items]
Contribution of capital to equity method investment			45	702
Carrying value of equity method investments	$ 17		$ 17	$ 17				$ 16
Subsequent Event
Related Party Transaction [Line Items]
Senior preferred stock							$ 95,000
Amount of mortgages that we may own in the portfolio					$ 225,000

Securitization Activities and_3

Securitization Activities and Consolidation (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investment securities, at fair value	$ 59,558	$ 59,825
Total assets	2,842,142	2,627,415
Fannie Mae securities backing Freddie Mac resecuritization products
Variable Interest Entity [Line Items]
Maximum exposure	99,039	85,841
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investment securities, at fair value	23,598	28,459
Variable Interest Entity, Not Primary Beneficiary | Fannie Mae securities backing Freddie Mac resecuritization products
Variable Interest Entity [Line Items]
Maximum exposure	94,900	85,300
Variable Interest Entity, Not Primary Beneficiary | Senior Subordinate Securitization Products | Single-family
Variable Interest Entity [Line Items]
Maximum exposure to loss	28,300	28,100
Total assets	34,100	33,700
Variable Interest Entity, Not Primary Beneficiary | Other Securitization Product | Single-family
Variable Interest Entity [Line Items]
Maximum exposure to loss	1,400	1,700
Total assets	1,500	1,800
Variable Interest Entity, Not Primary Beneficiary | Other Securitization Product | Multifamily
Variable Interest Entity [Line Items]
Maximum exposure to loss	14,800	14,900
Total assets	16,900	16,900
Variable Interest Entity, Not Primary Beneficiary | K Certificates | Multifamily
Variable Interest Entity [Line Items]
Maximum exposure to loss	274,800	253,000
Total assets	314,300	291,300
Variable Interest Entity, Not Primary Beneficiary | SB Certificate | Multifamily
Variable Interest Entity [Line Items]
Maximum exposure to loss	22,100	21,500
Total assets	24,600	23,900
Variable Interest Entity, Not Primary Beneficiary | STACR | Single-family
Variable Interest Entity [Line Items]
Maximum exposure to loss	174	420
Total assets	$ 19,900	$ 17,300

Securitization Activities and_4

Securitization Activities and Consolidation - Consolidated VIEs (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents (includes $3,859 and $17,289 of restricted cash and cash equivalents)	$ 11,171	$ 23,889	$ 7,605	$ 5,189
Restricted cash and cash equivalents	3,954	17,379
Securities purchased under agreements to resell	113,697	105,003
Investment securities, at fair value	59,558	59,825
Mortgage loans held-for-investment, net	2,590,715	2,350,236
Accrued interest receivable, net	7,637	7,754
Other assets	34,606	39,294
Total assets	2,842,142	2,627,415
Liabilities
Accrued interest payable	6,122	6,210
Debt	2,802,755	2,592,546
Total liabilities	2,819,740	2,611,002
Held by consolidated trusts
Assets
Cash and cash equivalents (includes $3,859 and $17,289 of restricted cash and cash equivalents)	3,860	17,290
Restricted cash and cash equivalents	3,859	17,289
Securities purchased under agreements to resell	36,266	38,487
Investment securities, at fair value	4,159	591
Mortgage loans held-for-investment, net	2,543,467	2,273,347
Accrued interest receivable, net	7,141	7,134
Other assets	16,194	20,480
Total assets	2,611,087	2,357,329
Liabilities
Accrued interest payable	5,631	5,610
Debt	2,575,653	2,308,176
Total liabilities	$ 2,581,284	$ 2,313,786

Securitization Activities and_5

Securitization Activities and Consolidation - Non-Consolidated VIEs (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets
Investment securities, at fair value	$ 59,558	$ 59,825
Accrued interest receivable, net	7,637	7,754
Derivative assets, net	756	1,205
Other assets	34,606	39,294
Liabilities
Derivative liabilities, net	507	954
Other liabilities	10,356	11,292
Variable Interest Entity, Not Primary Beneficiary
Assets
Investment securities, at fair value	23,598	28,459
Accrued interest receivable, net	236	239
Derivative assets, net	24	61
Other assets	5,615	5,553
Liabilities
Debt	67	0
Derivative liabilities, net	46	47
Other liabilities	$ 4,857	$ 4,515

Mortgage Loans (Details)

Mortgage Loans (Details) $ in Billions	6 Months Ended
	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)loan
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	$ 295.5	$ 162.4
Transfers from advances to lenders to loans HFI	$ 112.1	$ 45.1
Other loss mitigation activities
Accounts, Notes, Loans and Financing Receivables [Line Items]
TDR, subsequent default | loan	1,689	1,936
Post-TDR amortized cost basis	$ 0.3	$ 0.3

Mortgage Loans - Mortgage Loans

Mortgage Loans - Mortgage Loans (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	$ 18,395	$ 34,491
Cost basis and fair value adjustments, net HFS	(887)	(839)
Total held-for-sale loans, net	17,508	33,652
UPB of mortgage loans - HFI	2,532,548	2,293,499
Cost basis adjustment HFI	62,815	62,469
Allowance for credit losses	(4,648)	(5,732)
Total held-for-investment mortgage loans, net	2,590,715	2,350,236
Total mortgage loans, net	2,608,223	2,383,888
Single-family
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	7,920	10,702
Cost basis and fair value adjustments, net HFS	(1,272)	(1,637)
Total held-for-sale loans, net	6,648	9,065
UPB of mortgage loans - HFI	2,510,339	2,271,576
Cost basis adjustment HFI	62,756	62,415
Allowance for credit losses	(4,601)	(5,628)
Total held-for-investment mortgage loans, net	2,568,494	2,328,363
Total mortgage loans, net	2,575,142	2,337,428
Multifamily
Accounts, Notes, Loans and Financing Receivables [Line Items]
UPB of mortgage loans - HFS	10,475	23,789
Cost basis and fair value adjustments, net HFS	385	798
Total held-for-sale loans, net	10,860	24,587
UPB of mortgage loans - HFI	22,209	21,923
Cost basis adjustment HFI	59	54
Allowance for credit losses	(47)	(104)
Total held-for-investment mortgage loans, net	22,221	21,873
Total mortgage loans, net	$ 33,081	$ 46,460

Mortgage Loans - Loans Purchase

Mortgage Loans - Loans Purchased and Sold (Details) - USD ($) $ in Billions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Single-family | Mortgage loans held-for-investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Purchases	$ 287.1	$ 230.7	$ 647.7	$ 368.4
Single-family | Held-for-Sale
Financing Receivable, Allowance for Credit Loss [Line Items]
Sales	3	0	3	2.2
Multifamily | Mortgage loans held-for-investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Purchases	1.3	3.1	2.9	4.3
Multifamily | Held-for-Sale
Financing Receivable, Allowance for Credit Loss [Line Items]
Purchases	11.5	16.4	23.8	24.6
Sales	$ 17.7	$ 11	$ 38.8	$ 21.7

Mortgage Loans - Loan Reclassif

Mortgage Loans - Loan Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Charge-offs	$ 15	$ 94	$ 42	$ 173
Mortgage loans held-for-investment | Single-family
Financing Receivable, Allowance for Credit Loss [Line Items]
Single-family reclassifications from held-for-investment to held-for sale, UPB	469	759	970	3,396
Single-family reclassifications from held-for-investment to held-for sale, allowance for credit losses reverse or (established)	28	34	35	248
Single-family reclassifications from held-for-sale to held-for-investment, valuation allowance (established) or reversed	0	0	0	0
Mortgage loans held-for-investment | Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Single-family reclassifications from held-for-investment to held-for sale, UPB	1,202	615	1,730	647
Single-family reclassifications from held-for-investment to held-for sale, allowance for credit losses reverse or (established)	5	0	6	0
Single-family reclassifications from held-for-sale to held-for-investment, valuation allowance (established) or reversed	0	0	0	0
Held-for-Sale | Single-family
Financing Receivable, Allowance for Credit Loss [Line Items]
Single-family reclassifications from held-for-sale to held-for-investment, UPB	67	244	102	245
Single-family reclassifications from held-for-investment to held-for sale, allowance for credit losses reverse or (established)	6	20	9	20
Single-family reclassifications from held-for-sale to held-for-investment, valuation allowance (established) or reversed	0	4	0	4
Held-for-Sale | Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Single-family reclassifications from held-for-sale to held-for-investment, UPB	12	89	21	571
Single-family reclassifications from held-for-investment to held-for sale, allowance for credit losses reverse or (established)	0	0	0	(1)
Single-family reclassifications from held-for-sale to held-for-investment, valuation allowance (established) or reversed	$ 0	$ 0	$ 0	$ 0

Mortgage Loans - Amortized Cost

Mortgage Loans - Amortized Cost Basis of Held-for-Investment Loans on Nonaccrual (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Mar. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Non-Accrual Amortized Cost Basis	$ 21,224	$ 11,444	$ 21,224	$ 11,444	$ 23,164	$ 6,220
Interest Income Recognized	37	(38)	76	33
Single family
Financing Receivable, Allowance for Credit Loss [Line Items]
Non-Accrual Amortized Cost Basis	21,224	11,444	21,224	11,444	23,164	6,207
Interest Income Recognized	37	(38)	76	33
20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Allowance for Credit Loss [Line Items]
Non-Accrual Amortized Cost Basis	19,431	10,226	19,431	10,226	21,137	5,494
Interest Income Recognized	35	(35)	70	30
15-year amortizing fixed-rate
Financing Receivable, Allowance for Credit Loss [Line Items]
Non-Accrual Amortized Cost Basis	914	528	914	528	1,031	241
Interest Income Recognized	1	(2)	3	1
Adjustable-rate
Financing Receivable, Allowance for Credit Loss [Line Items]
Non-Accrual Amortized Cost Basis	268	150	268	150	296	83
Interest Income Recognized	0	0	1	0
Alt-A, interest-only, and option ARM
Financing Receivable, Allowance for Credit Loss [Line Items]
Non-Accrual Amortized Cost Basis	611	540	611	540	700	389
Interest Income Recognized	1	(1)	2	2
Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Non-Accrual Amortized Cost Basis	0	0	0	0	$ 0	$ 13
Interest Income Recognized	$ 0	$ 0	$ 0	$ 0

Mortgage Loans - Accrued Intere

Mortgage Loans - Accrued Interest Receivable and Related Charge-Offs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Single family
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued Interest Receivable, Net	$ 7,222		$ 7,222		$ 7,292
Accrued Interest Receivable Related Charge-Offs	(119)	$ (92)	(285)	$ (121)
Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued Interest Receivable, Net	104		104		$ 139
Accrued Interest Receivable Related Charge-Offs	$ 0	$ 0	$ 0	$ 0

Mortgage Loans - Amortized Co_2

Mortgage Loans - Amortized Cost Basis of Single-Family Held-for-Investment Loans by Current LTV Ratios and Vintage (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 2,595,363	$ 2,355,968
Single-Family serious delinquency rate	1.86%	2.64%
Single family
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	$ 537,587	$ 1,004,908
One year before current fiscal year	1,009,072	280,021
Two years before current fiscal year	204,813	119,653
Three years before current fiscal year	86,044	150,272
Four years before current fiscal year	112,428	189,823
Five years before current fiscal year	623,151	589,314
Total	2,573,095	2,333,991
20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	454,560	847,099
One year before current fiscal year	855,685	247,847
Two years before current fiscal year	180,379	106,222
Three years before current fiscal year	75,990	126,125
Four years before current fiscal year	93,407	157,307
Five years before current fiscal year	507,029	480,973
Total	2,167,050	1,965,573
15-year amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	81,551	154,747
One year before current fiscal year	150,846	30,322
Two years before current fiscal year	23,143	12,129
Three years before current fiscal year	9,199	20,628
Four years before current fiscal year	16,554	30,143
Five years before current fiscal year	94,216	84,001
Total	375,509	331,970
Adjustable-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,476	3,062
One year before current fiscal year	2,541	1,852
Two years before current fiscal year	1,291	1,302
Three years before current fiscal year	855	3,519
Four years before current fiscal year	2,467	2,373
Five years before current fiscal year	12,477	13,530
Total	21,107	25,638
Alt-A, Interest-only, and option ARM
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years before current fiscal year	9,429	10,810
Total	9,429	10,810
LTV ratio less than or equal to 60 percent | Single family
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	159,779	283,029
One year before current fiscal year	410,731	71,423
Two years before current fiscal year	84,944	43,784
Three years before current fiscal year	47,671	86,913
Four years before current fiscal year	83,983	147,936
Five years before current fiscal year	582,061	536,861
Total	1,369,169	1,169,946
LTV ratio less than or equal to 60 percent | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	115,459	203,333
One year before current fiscal year	306,280	52,820
Two years before current fiscal year	65,299	33,139
Three years before current fiscal year	38,381	64,834
Four years before current fiscal year	65,585	115,978
Five years before current fiscal year	467,656	431,406
Total	1,058,660	901,510
LTV ratio less than or equal to 60 percent | 15-year amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	43,775	78,269
One year before current fiscal year	102,912	17,753
Two years before current fiscal year	18,842	9,914
Three years before current fiscal year	8,654	19,650
Four years before current fiscal year	16,342	29,916
Five years before current fiscal year	94,098	83,842
Total	284,623	239,344
LTV ratio less than or equal to 60 percent | Adjustable-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	545	1,427
One year before current fiscal year	1,539	850
Two years before current fiscal year	803	731
Three years before current fiscal year	636	2,429
Four years before current fiscal year	2,056	2,042
Five years before current fiscal year	12,158	12,993
Total	17,737	20,472
LTV ratio less than or equal to 60 percent | Alt-A, Interest-only, and option ARM
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years before current fiscal year	8,149	8,620
Total	8,149	8,620
LTV ratio greater than 60 to 80 percent | Single family
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	270,457	506,414
One year before current fiscal year	494,001	154,140
Two years before current fiscal year	112,071	66,968
Three years before current fiscal year	36,869	61,132
Four years before current fiscal year	27,867	41,158
Five years before current fiscal year	38,189	47,117
Total	979,454	876,929
LTV ratio greater than 60 to 80 percent | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	235,850	437,107
One year before current fiscal year	446,701	141,094
Two years before current fiscal year	107,331	64,236
Three years before current fiscal year	36,116	59,110
Four years before current fiscal year	27,259	40,614
Five years before current fiscal year	36,693	44,636
Total	889,950	786,797
LTV ratio greater than 60 to 80 percent | 15-year amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	33,861	67,904
One year before current fiscal year	46,353	12,169
Two years before current fiscal year	4,268	2,195
Three years before current fiscal year	539	961
Four years before current fiscal year	204	215
Five years before current fiscal year	100	135
Total	85,325	83,579
LTV ratio greater than 60 to 80 percent | Adjustable-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	746	1,403
One year before current fiscal year	947	877
Two years before current fiscal year	472	537
Three years before current fiscal year	214	1,061
Four years before current fiscal year	404	329
Five years before current fiscal year	313	528
Total	3,096	4,735
LTV ratio greater than 60 to 80 percent | Alt-A, Interest-only, and option ARM
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years before current fiscal year	1,083	1,818
Total	1,083	1,818
LTV ratio greater than 80 to 90 percent | Single family
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	66,928	215,242
One year before current fiscal year	100,324	54,451
Two years before current fiscal year	7,628	8,873
Three years before current fiscal year	1,435	2,158
Four years before current fiscal year	500	665
Five years before current fiscal year	1,698	4,322
Total	178,513	285,711
LTV ratio greater than 80 to 90 percent | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	63,487	206,457
One year before current fiscal year	98,729	53,926
Two years before current fiscal year	7,580	8,822
Three years before current fiscal year	1,426	2,117
Four years before current fiscal year	489	654
Five years before current fiscal year	1,565	3,983
Total	173,276	275,959
LTV ratio greater than 80 to 90 percent | 15-year amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	3,311	8,553
One year before current fiscal year	1,540	400
Two years before current fiscal year	33	17
Three years before current fiscal year	4	12
Four years before current fiscal year	4	9
Five years before current fiscal year	9	17
Total	4,901	9,008
LTV ratio greater than 80 to 90 percent | Adjustable-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	130	232
One year before current fiscal year	55	125
Two years before current fiscal year	15	34
Three years before current fiscal year	5	29
Four years before current fiscal year	7	2
Five years before current fiscal year	4	8
Total	216	430
LTV ratio greater than 80 to 90 percent | Alt-A, Interest-only, and option ARM
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years before current fiscal year	120	314
Total	120	314
LTV ratio greater than 90 to 100 percent | Single family
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	40,347
One year before current fiscal year	4,009
Two years before current fiscal year	168
Three years before current fiscal year	54
Four years before current fiscal year	43
Five years before current fiscal year	610
Total	45,231
LTV ratio greater than 90 to 100 percent | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	39,697
One year before current fiscal year	3,968
Two years before current fiscal year	167
Three years before current fiscal year	53
Four years before current fiscal year	41
Five years before current fiscal year	561
Total	44,487
LTV ratio greater than 90 to 100 percent | 15-year amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	595
One year before current fiscal year	41
Two years before current fiscal year	0
Three years before current fiscal year	1
Four years before current fiscal year	2
Five years before current fiscal year	3
Total	642
LTV ratio greater than 90 to 100 percent | Adjustable-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	55
One year before current fiscal year	0
Two years before current fiscal year	1
Three years before current fiscal year	0
Four years before current fiscal year	0
Five years before current fiscal year	1
Total	57
LTV ratio greater than 90 to 100 percent | Alt-A, Interest-only, and option ARM
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0
One year before current fiscal year	0
Two years before current fiscal year	0
Three years before current fiscal year	0
Four years before current fiscal year	0
Five years before current fiscal year	45
Total	45
LTV ratio greater than 100 percent | Single family
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	76	223
One year before current fiscal year	7	7
Two years before current fiscal year	2	28
Three years before current fiscal year	15	69
Four years before current fiscal year	35	64
Five years before current fiscal year	593	1,014
Total	$ 728	$ 1,405
Single-Family serious delinquency rate	10.22%	11.17%
LTV ratio greater than 100 percent | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	$ 67	$ 202
One year before current fiscal year	7	7
Two years before current fiscal year	2	25
Three years before current fiscal year	14	64
Four years before current fiscal year	33	61
Five years before current fiscal year	554	948
Total	677	1,307
LTV ratio greater than 100 percent | 15-year amortizing fixed-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	9	21
One year before current fiscal year	0	0
Two years before current fiscal year	0	3
Three years before current fiscal year	1	5
Four years before current fiscal year	2	3
Five years before current fiscal year	6	7
Total	18	39
LTV ratio greater than 100 percent | Adjustable-rate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years before current fiscal year	1	1
Total	1	1
LTV ratio greater than 100 percent | Alt-A, Interest-only, and option ARM
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years before current fiscal year	32	58
Total	$ 32	$ 58

Mortgage Loans - Amortized Co_3

Mortgage Loans - Amortized Cost Basis of Multifamily Held-for-Investment Loans by Credit Quality Indicator by Vintage (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 2,595,363	$ 2,355,968
Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,293	7,486
One year before current fiscal year	7,698	7,015
Two years before current fiscal year	6,059	1,196
Three years before current fiscal year	1,136	763
Four years before current fiscal year	667	598
Five years before current fiscal year	3,247	2,895
Revolving Loans	2,168	2,024
Total	22,268	21,977
Pass | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	1,293	7,486
One year before current fiscal year	7,698	6,491
Two years before current fiscal year	5,560	1,075
Three years before current fiscal year	1,135	722
Four years before current fiscal year	654	590
Five years before current fiscal year	3,039	2,715
Revolving Loans	2,168	2,024
Total	21,547	21,103
Special mention | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	524
Two years before current fiscal year	476	115
Three years before current fiscal year	0	0
Four years before current fiscal year	0	8
Five years before current fiscal year	106	108
Revolving Loans	0	0
Total	582	755
Substandard | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	23	6
Three years before current fiscal year	1	41
Four years before current fiscal year	13	0
Five years before current fiscal year	102	72
Revolving Loans	0	0
Total	139	119
Doubtful | Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year	0	0
One year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Five years before current fiscal year	0	0
Revolving Loans	0	0
Total	$ 0	$ 0

Mortgage Loans - Amortized Co_4

Mortgage Loans - Amortized Cost Basis of Held-for-Investment Loans by Payment Status (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Total	$ 2,595,363	$ 2,355,968
Non-Accrual with no allowance	990	779
Mortgage Loans in Process of Foreclosure, Amount	800	1,000
Loans compliant with forbearance agreement	600	700
20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	2,167,050	1,965,573
Three months or more past due and accruing	18,089	40,162
Non-Accrual with no allowance	845	648
15-year amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	375,509	331,970
Three months or more past due and accruing	1,363	2,723
Non-Accrual with no allowance	10	11
Adjustable-rate
Financing Receivable, Past Due [Line Items]
Total	21,107	25,638
Three months or more past due and accruing	334	690
Non-Accrual with no allowance	7	5
Alt-A, interest-only, and option ARM
Financing Receivable, Past Due [Line Items]
Total	9,429	10,810
Three months or more past due and accruing	254	538
Non-Accrual with no allowance	128	115
Single-family
Financing Receivable, Past Due [Line Items]
Total	2,573,095	2,333,991
Multifamily
Financing Receivable, Past Due [Line Items]
Total	22,268	21,977
Three months or more past due and accruing	0	0
Non-Accrual with no allowance	0	0
Current
Financing Receivable, Past Due [Line Items]
Total	2,537,453	2,274,319
Current | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	2,114,708	1,891,981
Current | 15-year amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	371,888	326,651
Current | Adjustable-rate
Financing Receivable, Past Due [Line Items]
Total	20,323	24,483
Current | Alt-A, interest-only, and option ARM
Financing Receivable, Past Due [Line Items]
Total	8,266	9,227
Current | Single-family
Financing Receivable, Past Due [Line Items]
Total	2,515,185	2,252,342
Current | Multifamily
Financing Receivable, Past Due [Line Items]
Total	22,268	21,977
One month past due
Financing Receivable, Past Due [Line Items]
Total	13,214	17,721
One month past due | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	11,746	15,798
One month past due | 15-year amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	1,103	1,439
One month past due | Adjustable-rate
Financing Receivable, Past Due [Line Items]
Total	143	192
One month past due | Alt-A, interest-only, and option ARM
Financing Receivable, Past Due [Line Items]
Total	222	292
One month past due | Single-family
Financing Receivable, Past Due [Line Items]
Total	13,214	17,721
One month past due | Multifamily
Financing Receivable, Past Due [Line Items]
Total	0	0
Two months past due
Financing Receivable, Past Due [Line Items]
Total	3,784	6,579
Two months past due | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	3,429	5,941
Two months past due | 15-year amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	235	429
Two months past due | Adjustable-rate
Financing Receivable, Past Due [Line Items]
Total	42	79
Two months past due | Alt-A, interest-only, and option ARM
Financing Receivable, Past Due [Line Items]
Total	78	130
Two months past due | Single-family
Financing Receivable, Past Due [Line Items]
Total	3,784	6,579
Two months past due | Multifamily
Financing Receivable, Past Due [Line Items]
Total	0	0
Three months or more past due or in foreclosure
Financing Receivable, Past Due [Line Items]
Total	40,912	57,349
Three months or more past due and accruing	20,040	44,113
Three months or more past due or in foreclosure | 20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	37,167	51,853
Three months or more past due or in foreclosure | 15-year amortizing fixed-rate
Financing Receivable, Past Due [Line Items]
Total	2,283	3,451
Three months or more past due or in foreclosure | Adjustable-rate
Financing Receivable, Past Due [Line Items]
Total	599	884
Three months or more past due or in foreclosure | Alt-A, interest-only, and option ARM
Financing Receivable, Past Due [Line Items]
Total	863	1,161
Three months or more past due or in foreclosure | Single-family
Financing Receivable, Past Due [Line Items]
Total	40,912	57,349
Three months or more past due and accruing	20,040	44,113
Non-Accrual with no allowance	990	779
Three months or more past due or in foreclosure | Multifamily
Financing Receivable, Past Due [Line Items]
Total	$ 0	$ 0

Mortgage Loans - Single-Family

Mortgage Loans - Single-Family TDR Modification Metrics (Details) - Single family	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest rate reductions and related term extensions	13.00%	15.00%	14.00%	15.00%
Principal forbearance and related interest rate reductions and term extensions	37.00%	18.00%	35.00%	19.00%
Average coupon interest rate reduction	0.40%	0.30%	0.40%	0.30%
Average months of term extension	145 months	187 months	149 months	187 months

Mortgage Loans - TDR Activity (

Mortgage Loans - TDR Activity (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)loan	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)loan
Single-family
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | loan	4,362	6,122	8,815	13,546
Post TDR Amortized Cost Basis	$ 733	$ 1,038	$ 1,479	$ 2,278
Pre-TDR Amortized Cost Basis	$ 800	$ 1,000	$ 1,500	$ 2,300
20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | loan	3,729	5,309	7,511	11,741
Post TDR Amortized Cost Basis	$ 656	$ 943	$ 1,327	$ 2,070
15-year amortizing fixed-rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | loan	425	590	897	1,319
Post TDR Amortized Cost Basis	$ 47	$ 61	$ 94	$ 133
Adjustable-rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | loan	52	88	100	185
Post TDR Amortized Cost Basis	$ 10	$ 15	$ 19	$ 32
Alt-A, interest-only, and option ARM
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | loan	156	135	307	301
Post TDR Amortized Cost Basis	$ 20	$ 19	$ 39	$ 43
Multifamily
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Loans | loan	0	0	0	0
Post TDR Amortized Cost Basis	$ 0	$ 0	$ 0	$ 0

Mortgage Loans - Payment Defaul

Mortgage Loans - Payment Defaults of Completed TDR Modifications (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)loan	Jun. 30, 2021USD ($)loan	Jun. 30, 2020USD ($)loan
Single-family
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans | loan	801	4,721	2,136	7,537
Post-TDR Amortized Cost Basis | $	$ 140	$ 899	$ 369	$ 1,376
20- and 30-year or more, amortizing fixed-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans | loan	682	4,116	1,813	6,620
Post-TDR Amortized Cost Basis | $	$ 124	$ 791	$ 322	$ 1,218
15-year amortizing fixed-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans | loan	24	197	86	316
Post-TDR Amortized Cost Basis | $	$ 2	$ 26	$ 9	$ 40
Adjustable-rate
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans | loan	6	59	21	88
Post-TDR Amortized Cost Basis | $	$ 1	$ 10	$ 4	$ 14
Alt-A, interest-only, and option ARM
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans | loan	89	349	216	513
Post-TDR Amortized Cost Basis | $	$ 13	$ 72	$ 34	$ 104
Multifamily
Financing Receivable, Modifications and Other Loss Mitigation Activities
Number of Loans | loan	0	0	0	0
Post-TDR Amortized Cost Basis | $	$ 0	$ 0	$ 0	$ 0

Guarantees and Other Off-Bala_3

Guarantees and Other Off-Balance Sheet Credit Exposures (Details) - USD ($) $ in Billions	Jun. 30, 2021	Dec. 31, 2020
Guarantor Obligations [Line Items]
Notional value of off-balance sheet credit exposures	$ 15	$ 15.4
MF purchase commitments with no allowance	$ 4.5	$ 5.5

Financial Guarantees (Details)

Financial Guarantees (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Other guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 63,926	$ 47,703
Recognized Liability	$ 1,387	$ 794
Maximum Remaining Term	30 years	30 years
Fannie Mae securities backing Freddie Mac resecuritization products
Guarantor Obligations [Line Items]
Maximum Exposure	$ 99,039	$ 85,841
Recognized Liability	$ 0	$ 0
Maximum Remaining Term	40 years	41 years
Single-family
Guarantor Obligations [Line Items]
Maximum Exposure	$ 39,844	$ 38,954
Recognized Liability	651	594
Single-family | Securitization activity guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	29,696	29,739
Recognized Liability	$ 410	$ 401
Maximum Remaining Term	39 years	39 years
Single-family | Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 10,148	$ 9,215
Recognized Liability	$ 241	$ 193
Maximum Remaining Term	30 years	30 years
Multifamily
Guarantor Obligations [Line Items]
Maximum Exposure	$ 319,691	$ 298,055
Recognized Liability	4,771	4,456
Multifamily | Securitization activity guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	309,718	287,334
Recognized Liability	$ 4,382	$ 4,031
Maximum Remaining Term	39 years	39 years
Multifamily | Other mortgage-related guarantees
Guarantor Obligations [Line Items]
Maximum Exposure	$ 9,973	$ 10,721
Recognized Liability	$ 389	$ 425
Maximum Remaining Term	33 years	33 years

UPB of Unconsolidated Loans by

UPB of Unconsolidated Loans by Payment Status (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Guarantor Obligations [Line Items]
Current	$ 402,900	$ 376,801
One Month Past Due	1,839	2,291
Two Months Past Due	619	1,007
Three Months or More Past Due, or in Foreclosure	3,606	4,479
Total	408,964	384,578
UPB of loan-level payment status unavailable	500	700
Loans in forbearance	4,400
Single family
Guarantor Obligations [Line Items]
Current	40,023	37,187
One Month Past Due	1,784	2,204
Two Months Past Due	594	945
Three Months or More Past Due, or in Foreclosure	3,058	3,922
Total	45,459	44,258
Multifamily
Guarantor Obligations [Line Items]
Current	362,877	339,614
One Month Past Due	55	87
Two Months Past Due	25	62
Three Months or More Past Due, or in Foreclosure	548	557
Total	$ 363,505	$ 340,320

Investment Securities (Details)

Investment Securities (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)security	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)security	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Investments, Debt and Equity Securities [Abstract]
Net unrealized gains (losses) on trading securities held at balance sheets date	$ (398)	$ 120	$ (797)	$ 638
Available-for-sale securities, allowance	0		0		$ 0
Available-for-sale securities scheduled to contractually mature after ten years	1,700		1,700
Available-for-sale securities scheduled to contractually mature after five years through ten years	$ 1,800		$ 1,800
Gross unrealized losses, number of positions | security	31		31
Investment securities in exchange for issuance of debt securities of consolidated trusts			$ 23,900	$ 12,700

Investment Securities - Investm

Investment Securities - Investment Securities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Trading securities	$ 54,991	$ 44,458
Available-for-Sale, at fair value	4,567	15,367
Total fair value of investment securities	$ 59,558	$ 59,825

Investment Securities - Trading

Investment Securities - Trading Securities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Trading Securities [Line Items]
Total fair value of trading securities	$ 54,991	$ 44,458
Mortage-related securities
Trading Securities [Line Items]
Total fair value of trading securities	21,708	17,505
Agency
Trading Securities [Line Items]
Total fair value of trading securities	21,708	17,504
Non-agency
Trading Securities [Line Items]
Total fair value of trading securities	0	1
Non-mortgage-related securities
Trading Securities [Line Items]
Total fair value of trading securities	$ 33,283	$ 26,953

Investment Securities - Availab

Investment Securities - Available-For-Sale Securities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	$ 4,137	$ 14,344
Gross Unrealized Gains in Other Comprehensive Income	431	1,027
Gross Unrealized Losses in Other Comprehensive Income	(1)	(4)
Available-for-Sale, at fair value	4,567	15,367
Accrued Interest Receivable	12	40
Agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	3,380	13,514
Gross Unrealized Gains in Other Comprehensive Income	189	794
Gross Unrealized Losses in Other Comprehensive Income	(1)	(4)
Available-for-Sale, at fair value	3,568	14,304
Accrued Interest Receivable	8	36
Non-agency and other
Debt Securities, Available-for-sale [Line Items]
Amortized Cost Basis	757	830
Gross Unrealized Gains in Other Comprehensive Income	242	233
Gross Unrealized Losses in Other Comprehensive Income	0	0
Available-for-Sale, at fair value	999	1,063
Accrued Interest Receivable	$ 4	$ 4

Investment Securities - Avail_2

Investment Securities - Available-For-Sale Securities in a Gross Unrealized Loss Position (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	$ 20	$ 240
Less than 12 Months Gross Unrealized Losses	0	(2)
12 Months or Greater Fair Value	105	144
12 Months or Greater Gross Unrealized Losses	(1)	(2)
Agency
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	20	223
Less than 12 Months Gross Unrealized Losses	0	(2)
12 Months or Greater Fair Value	105	144
12 Months or Greater Gross Unrealized Losses	(1)	(2)
Non-agency and other
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months Fair Value	0	17
Less than 12 Months Gross Unrealized Losses	0	0
12 Months or Greater Fair Value	0	0
12 Months or Greater Gross Unrealized Losses	$ 0	$ 0

Investment Securities - Gross R

Investment Securities - Gross Realized Gains and Gross Realized Losses on Sales of Available-For-Sale Securities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 121	$ 44	$ 520	$ 77
Gross realized losses	(22)	(37)	(53)	(60)
Net realized gains (losses)	$ 99	$ 7	$ 467	$ 17

Allowance for Credit Losses - S

Allowance for Credit Losses - Schedule (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Charge-offs	$ (15)	$ (94)	$ (42)	$ (173)
Ending balance	5,609	7,133	5,609	7,133
Allowance for credit loss
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	6,280	6,483	6,553	5,302
Provision (benefit) for credit losses	(740)	705	(936)	1,938
Charge-offs	(203)	(121)	(441)	(285)
Recoveries collected	61	36	107	124
Other	211	30	326	54
Mortgage loans held-for-investment
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	4,648	6,606	4,648	6,606
Advances of pre-foreclosure costs
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	691	323	691	323
Accrued interest receivable on mortgage loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	168	57	168	57
Off-balance sheet credit exposures
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	102	147	102	147
Single family
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	5,513	6,916	5,513	6,916
Single family | Allowance for credit loss
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	6,130	6,347	6,353	5,233
Provision (benefit) for credit losses	(686)	624	(832)	1,790
Charge-offs	(203)	(121)	(441)	(285)
Recoveries collected	61	36	107	124
Other	211	30	326	54
Single family | Mortgage loans held-for-investment
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	4,601	6,482	4,601	6,482
Single family | Advances of pre-foreclosure costs
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	691	323	691	323
Single family | Accrued interest receivable on mortgage loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	168	57	168	57
Single family | Off-balance sheet credit exposures
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	53	54	53	54
Multifamily
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	96	217	96	217
Multifamily | Allowance for credit loss
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	150	136	200	69
Provision (benefit) for credit losses	(54)	81	(104)	148
Charge-offs	0	0	0	0
Recoveries collected	0	0	0	0
Other	0	0	0	0
Multifamily | Mortgage loans held-for-investment
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	47	124	47	124
Multifamily | Advances of pre-foreclosure costs
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	0	0	0	0
Multifamily | Accrued interest receivable on mortgage loans
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	0	0	0	0
Multifamily | Off-balance sheet credit exposures
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Ending balance	$ 49	$ 93	$ 49	$ 93

Credit Enhancements Receivables

Credit Enhancements Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Credit Enhancement [Line Items]
Freestanding credit enhancement expected recovery receivables, net of allowance	$ 217	$ 677
Total credit enhancement receivables	288	751
Mortgage Insurers
Credit Enhancement [Line Items]
Primary mortgage insurance receivables, net of allowance	71	74
Deferred payment obligations associated with unpaid claims	$ 433	$ 444

Credit Enhancements - Single Fa

Credit Enhancements - Single Family Credit Enhancements (Details) - SF Mortgage Loan Credit Enhancements - Single-family - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Credit Enhancement [Line Items]
Maximum coverage	$ 179,678	$ 169,608
Primary mortgage insurance
Credit Enhancement [Line Items]
Total current and protected UPB	501,768	472,881
Maximum coverage	122,942	116,973
STACR Trust notes
Credit Enhancement [Line Items]
Total current and protected UPB	623,920	488,251
Maximum coverage	19,942	17,288
STACR Debt notes
Credit Enhancement [Line Items]
Total current and protected UPB	273,747	365,482
Maximum coverage	11,553	12,377
Insurance/reinsurance
Credit Enhancement [Line Items]
Total current and protected UPB	922,969	876,815
Maximum coverage	14,331	11,586
Non-consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	34,871	34,671
Maximum coverage	5,853	5,718
Consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	6,086	9,499
Maximum coverage	346	464
Lender-risk sharing
Credit Enhancement [Line Items]
Total current and protected UPB	4,975	5,731
Maximum coverage	4,477	4,831
Other
Credit Enhancement [Line Items]
Total current and protected UPB	237	374
Maximum coverage	$ 234	$ 371

Credit Enhancements -Multifamil

Credit Enhancements -Multifamily Credit Enhancements (Details) - MF Mortgage Loans Credit Enhancements - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Credit Enhancement [Line Items]
Maximum coverage	$ 45,877	$ 44,151
Multifamily | Non-consolidated VIE subordination
Credit Enhancement [Line Items]
Total current and protected UPB	353,191	328,897
Maximum coverage	44,306	42,799
Multifamily | Lender-risk sharing
Credit Enhancement [Line Items]
Total current and protected UPB	2,892	3,317
Maximum coverage	599	598
Multifamily | Insurance/reinsurance
Credit Enhancement [Line Items]
Total current and protected UPB	5,344	5,383
Maximum coverage	189	190
Multifamily | SCR Trust Notes
Credit Enhancement [Line Items]
Total current and protected UPB	4,788	0
Maximum coverage	272	0
Multifamily | SCR debt notes
Credit Enhancement [Line Items]
Total current and protected UPB	2,139	2,217
Maximum coverage	107	111
Multifamily | Other
Credit Enhancement [Line Items]
Total current and protected UPB	1,202	2,211
Maximum coverage	$ 404	$ 453

Debt Text (Details)

Debt Text (Details) $ in Billions	Jun. 30, 2021USD ($)
Debt Disclosure [Abstract]
Aggregate indebtedness	$ 230.6
Debt cap limit under Purchase Agreement	$ 300

Debt - Total Debt (Details)

Debt - Total Debt (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Net [Abstract]
Total debt	$ 2,802,755	$ 2,592,546
Held by consolidated trusts
Debt Net [Abstract]
Total debt	2,575,653	2,308,176
Held by Freddie Mac
Debt Net [Abstract]
Short-term debt	0	4,955
Long-term debt	227,102	279,415
Total debt	$ 227,102	$ 284,370

Debt - Debt Securities of Conso

Debt - Debt Securities of Consolidated Trusts Held by Third Parties (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Carrying Amount	$ 2,802,755	$ 2,592,546
Debt instrument recorded at fair value	2,073	2,592
Held by Freddie Mac
Debt Instrument [Line Items]
UPB	2,506,334	2,240,602
Carrying Amount	2,575,653	2,308,176
Debt instrument recorded at fair value	$ 252	$ 205
Effective rate for debt securities of consolidated trusts held by third parties	1.73%	1.76%
Held by Freddie Mac | Single-family
Debt Instrument [Line Items]
UPB	$ 2,490,982	$ 2,228,114
Carrying Amount	2,560,089	2,295,537
Held by Freddie Mac | Multifamily
Debt Instrument [Line Items]
UPB	15,352	12,488
Carrying Amount	$ 15,564	$ 12,639
Weighted Average Coupon	2.26%	2.43%
Held by Freddie Mac | Single-family 30-year or more, fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 1,990,165	$ 1,799,065
Carrying Amount	$ 2,046,438	$ 1,855,438
Weighted Average Coupon	2.77%	3.07%
Held by Freddie Mac | Single-family 20-year fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 119,298	$ 97,520
Carrying Amount	$ 122,569	$ 100,498
Weighted Average Coupon	2.53%	2.84%
Held by Freddie Mac | Single-family 15-year fixed-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 357,016	$ 303,142
Carrying Amount	$ 365,964	$ 310,612
Weighted Average Coupon	2.25%	2.46%
Held by Freddie Mac | Adjustable-rate | Single-family
Debt Instrument [Line Items]
UPB	$ 20,531	$ 23,964
Carrying Amount	$ 20,996	$ 24,484
Weighted Average Coupon	2.48%	2.76%
Held by Freddie Mac | Single-family Interest-only | Single-family
Debt Instrument [Line Items]
UPB	$ 3,144	$ 3,671
Carrying Amount	$ 3,277	$ 3,736
Weighted Average Coupon	2.57%	3.15%
Held by Freddie Mac | FHA/VA | Single-family
Debt Instrument [Line Items]
UPB	$ 828	$ 752
Carrying Amount	$ 845	$ 769
Weighted Average Coupon	3.79%	4.04%

Debt - Total Debt of Freddie Ma

Debt - Total Debt of Freddie Mac (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Long-term Debt [Abstract]
Debt instrument recorded at fair value	$ 2,073	$ 2,592
Held by Freddie Mac
Short-term Debt [Abstract]
Short-term debt par value	4,620	4,955
Short-term debt carrying amount	$ 4,620	$ 4,955
Short-term debt weighted average effective rate	(0.03%)	1.31%
Long-term Debt [Abstract]
Long-term debt par value	$ 230,476	$ 281,386
Long-term debt carrying amount	$ 227,102	$ 279,415
Long-term debt weighted average effective rate	1.13%	1.09%
Total par value	$ 235,096	$ 286,341
Total debt of Freddie Mac	231,722	284,370
Debt instrument recorded at fair value	1,800	2,400
Callable debt	89,000	124,000
Held by Freddie Mac | Long-term debt | 2021
Long-term Debt [Abstract]
Long-term debt par value	26,621	43,422
Long-term debt carrying amount	$ 26,620	$ 43,417
Long-term debt weighted average effective rate	0.72%	0.95%
Held by Freddie Mac | Long-term debt | 2022
Long-term Debt [Abstract]
Long-term debt par value	$ 55,228	$ 61,071
Long-term debt carrying amount	$ 55,247	$ 61,092
Long-term debt weighted average effective rate	0.72%	0.68%
Held by Freddie Mac | Long-term debt | 2023
Long-term Debt [Abstract]
Long-term debt par value	$ 48,199	$ 61,998
Long-term debt carrying amount	$ 48,139	$ 61,920
Long-term debt weighted average effective rate	0.44%	0.45%
Held by Freddie Mac | Long-term debt | 2024
Long-term Debt [Abstract]
Long-term debt par value	$ 16,389	$ 21,679
Long-term debt carrying amount	$ 16,367	$ 21,651
Long-term debt weighted average effective rate	0.49%	0.61%
Held by Freddie Mac | Long-term debt | 2025
Long-term Debt [Abstract]
Long-term debt par value	$ 35,777	$ 44,342
Long-term debt carrying amount	$ 35,414	$ 43,944
Long-term debt weighted average effective rate	0.83%	0.84%
Held by Freddie Mac | Long-term debt | Thereafter
Long-term Debt [Abstract]
Long-term debt par value	$ 36,602	$ 36,386
Long-term debt carrying amount	$ 34,867	$ 34,583
Long-term debt weighted average effective rate	2.62%	2.64%
Held by Freddie Mac | STACR and SCR debt
Long-term Debt [Abstract]
Long-term debt par value	$ 11,660	$ 12,488
Long-term debt carrying amount	$ 11,496	$ 12,342
Long-term debt weighted average effective rate	4.19%	4.18%
Held by Freddie Mac | Hedging-Related Basis Adjustments
Long-term Debt [Abstract]
Long-term debt carrying amount	$ (1,048)	$ 466
Held by Freddie Mac | Discount notes and Reference Bills
Short-term Debt [Abstract]
Short-term debt par value	0	11
Short-term debt carrying amount	$ 0	$ 11
Short-term debt weighted average effective rate	0.00%	0.69%
Held by Freddie Mac | Medium-term notes
Short-term Debt [Abstract]
Short-term debt par value	$ 0	$ 4,944
Short-term debt carrying amount	$ 0	$ 4,944
Short-term debt weighted average effective rate	0.00%	1.31%
Held by Freddie Mac | Securities sold under agreements to repurchase
Short-term Debt [Abstract]
Short-term debt par value	$ 4,620	$ 0
Short-term debt carrying amount	$ 4,620	$ 0
Short-term debt weighted average effective rate	(0.03%)	0.00%

Derivatives (Details)

Derivatives (Details)	6 Months Ended
	Jun. 30, 2021category
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Number of derivative categories	3

Derivatives - Derivative Assets

Derivatives - Derivative Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Notional or contractual amount	$ 1,402,334	$ 1,362,325
Derivative interest receivable and other	485	455
Netting adjustments to derivative assets	(6,453)	(7,829)
Derivative assets, net	756	1,205
Derivative interest payable and other	(463)	(523)
Netting adjustments to derivative liabilities	8,027	8,717
Derivative liabilities, net	(507)	(954)
Other
Derivative [Line Items]
Derivative assets, net	25	63
Derivative liabilities, net	(62)	(63)
Not Designated as Hedging Instrument, Economic Hedge
Derivative [Line Items]
Notional or contractual amount	1,249,332	1,181,639
Derivative assets at fair value	6,615	8,355
Derivative liabilities at fair value	(6,735)	(8,648)
Not Designated as Hedging Instrument, Economic Hedge | CDX swaption
Derivative [Line Items]
Notional or contractual amount	11,500	16,800
Derivative assets at fair value	3	9
Not Designated as Hedging Instrument, Economic Hedge | Interest-rate management derivatives
Derivative [Line Items]
Notional or contractual amount	1,089,659	929,552
Derivative assets at fair value	6,477	7,904
Derivative liabilities at fair value	(6,463)	(7,826)
Not Designated as Hedging Instrument, Economic Hedge | Swaps
Derivative [Line Items]
Notional or contractual amount	647,387	559,596
Derivative assets at fair value	2,082	2,639
Derivative liabilities at fair value	(5,132)	(7,091)
Not Designated as Hedging Instrument, Economic Hedge | Written options | Written
Derivative [Line Items]
Notional or contractual amount	31,654	18,259
Derivative assets at fair value	0	0
Derivative liabilities at fair value	(1,331)	(735)
Not Designated as Hedging Instrument, Economic Hedge | Purchased options | Purchased
Derivative [Line Items]
Notional or contractual amount	236,105	169,995
Derivative assets at fair value	4,395	5,265
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Futures
Derivative [Line Items]
Notional or contractual amount	174,513	181,702
Derivative assets at fair value	0	0
Derivative liabilities at fair value	0	0
Not Designated as Hedging Instrument, Economic Hedge | Mortgage commitment derivatives
Derivative [Line Items]
Notional or contractual amount	121,435	219,109
Derivative assets at fair value	113	388
Derivative liabilities at fair value	(210)	(759)
Not Designated as Hedging Instrument, Economic Hedge | Forward contracts to purchase mortgage loans
Derivative [Line Items]
Notional or contractual amount	11,857	37,122
Derivative assets at fair value	23	183
Derivative liabilities at fair value	(3)	0
Not Designated as Hedging Instrument, Economic Hedge | Forward contracts to purchase mortgage-related securities
Derivative [Line Items]
Notional or contractual amount	32,396	45,185
Derivative assets at fair value	79	203
Derivative liabilities at fair value	(6)	0
Not Designated as Hedging Instrument, Economic Hedge | Forward contracts to sell mortgage-related securities
Derivative [Line Items]
Notional or contractual amount	77,182	136,802
Derivative assets at fair value	11	2
Derivative liabilities at fair value	(201)	(759)
Not Designated as Hedging Instrument, Economic Hedge | CRT-related derivatives
Derivative [Line Items]
Notional or contractual amount	30,553	28,949
Derivative assets at fair value	24	61
Derivative liabilities at fair value	(38)	(47)
Not Designated as Hedging Instrument, Economic Hedge | Other
Derivative [Line Items]
Notional or contractual amount	7,685	4,029
Derivative assets at fair value	1	2
Derivative liabilities at fair value	(24)	(16)
Designated as Hedging Instrument | Fair Value Hedging
Derivative [Line Items]
Notional or contractual amount	153,002	180,686
Derivative assets at fair value	109	224
Derivative liabilities at fair value	(1,336)	(500)
Designated as Hedging Instrument | Fair Value Hedging | Swaps
Derivative [Line Items]
Notional or contractual amount	153,002	180,686
Derivative assets at fair value	109	224
Derivative liabilities at fair value	$ (1,336)	$ (500)

Derivatives - Derivative Gains

Derivatives - Derivative Gains and Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	$ (563)	$ (501)	$ 808	$ (4,263)
Accrual of periodic cash settlements
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(360)	(329)	(812)	(505)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Interest-rate management derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	631	175	1,023	(2,794)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	1,039	1,000	1,654	(3,863)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Written options | Written
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	305	55	(156)	(265)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Purchased options | Purchased
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(586)	(760)	(634)	3,782
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)	(127)	(120)	159	(2,448)
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)	(203)	(172)	1,620	(3,758)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | Mortgage commitment derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	(860)	(396)	616	(1,122)
Not Designated as Hedging Instrument, Economic Hedge | Derivative gains (losses) excluding accrual of periodic settlements | CRT-Related Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gains (losses)	15	43	(27)	121
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)	$ 11	$ 6	$ 8	$ 37

Derivatives Derivatives - Gains

Derivatives Derivatives - Gains and Losses on Fair Value Hedge (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Interest income	$ 15,230	$ 15,716	$ 29,132	$ 33,308
Total interest expense	(10,463)	(12,840)	(20,726)	(27,647)
Interest rate risk on held-for-investment mortgage loans | Interest income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on fair value hedging relationships - hedged items	1,086	670	(437)	5,563
Gain (loss) on fair value hedging relationships - derivatives designated as hedging instruments	(1,097)	(474)	437	(5,554)
Interest accrual on fair value hedging derivatives for held-for-investment loan	(139)	(122)	(253)	(185)
Discontinued hedge-related basis adjustments amortization	(511)	(695)	(1,292)	(948)
Interest rate risk on debt | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on fair value hedging relationships - hedged items	(600)	37	1,514	(468)
Gain (loss) on fair value hedging relationships - derivatives designated as hedging instruments	568	(81)	(1,620)	473
Discontinued hedge-related basis adjustments amortization	3	17	8	37
Interest accrual on fair value hedging derivatives for debt	$ 248	$ 187	$ 503	$ 287

Derivatives Derivatives - Cumul

Derivatives Derivatives - Cumulative Basis Adjustment due to Fair Value Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying amount mortgage loans held-for-investment hedged asset	$ 693,011	$ 478,077
Carrying amount debt hedged liability	(146,969)	(176,512)
Total basis adjustment cumulative amount for hedged asset	3,388	5,117
Total basis adjustment cumulative amount for hedged liability	1,048	(466)
Hedged Asset, Fair Value Hedge, Last-of-Layer, Cumulative Increase (Decrease)	(224)	(318)
Basis adjustment amount for hedged asset - discontinued hedge	3,612	5,435
Basis adjustment amount for hedged liability - discontinued hedge	(30)	(38)
Total Amount by Amortized Cost Basis Under the Last-of-Layer Method	72,555	220,301
Designated Amount by UPB Under the Last-of-Layer Method	$ 3,019	$ 9,112

Collateral and Offsetting of _3

Collateral and Offsetting of Assets and Liabilities (Details) - USD ($) $ in Billions	Jun. 30, 2021	Dec. 31, 2020
OTC derivatives
Offsetting Assets [Line Items]
Cash pledged to us as collateral that was invested as part of our liquidity and contingency operating portfolio	$ 1.8	$ 2.8
Securities purchased under agreements to resell
Offsetting Assets [Line Items]
Securities pledged to us	59.6	85.8
Securities purchased under agreements to resell not executed with clearinghouse
Offsetting Assets [Line Items]
Securities pledged to us	0.7	0.8
Commitment securities
Offsetting Assets [Line Items]
Aggregate fair value of securities posted	$ 0.1	$ 1.3

Collateral and Offsetting of _4

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Assets (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative Assets:
Gross Amount Recognized	$ 7,209	$ 9,034
Counterparty netting	(5,093)	(5,932)
Cash Collateral netting	(1,360)	(1,897)
Total derivative assets, net	756	1,205
Gross Amount Not Offset in the Consolidated Balance Sheets	(419)	(648)
Net Amount	337	557
Securities purchased under agreements to resell:
Gross Amount Recognized	118,317	105,003
Counterparty netting	(4,620)	0
Net Amount Presented in the Consolidated Balance Sheets	113,697	105,003
Gross Amount Not Offset in the Consolidated Balance Sheets	(113,697)	(105,003)
Net Amount	0	0
Total:
Gross Amount Recognized	125,526	114,037
Counterparty netting	(9,713)	(5,932)
Cash collateral netting	(1,360)	(1,897)
Net Amount Presented in the Consolidated Balance Sheets	114,453	106,208
Gross Amount Not Offset in the Consolidated Balance Sheets	(114,116)	(105,651)
Net Amount	337	557
Other
Derivative Assets:
Gross Amount Recognized	25	63
Counterparty netting	0	0
Cash Collateral netting	0	0
Total derivative assets, net	25	63
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	25	63
OTC derivatives
Derivative Assets:
Gross Amount Recognized	6,955	8,566
Counterparty netting	(5,088)	(5,932)
Cash Collateral netting	(1,405)	(1,957)
Total derivative assets, net	462	677
Gross Amount Not Offset in the Consolidated Balance Sheets	(419)	(648)
Net Amount	43	29
Cleared and exchange-traded derivatives
Derivative Assets:
Gross Amount Recognized	116	17
Counterparty netting	(5)	0
Cash Collateral netting	45	60
Total derivative assets, net	156	77
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	156	77
Mortgage commitment derivatives
Derivative Assets:
Gross Amount Recognized	113	388
Counterparty netting	0	0
Cash Collateral netting	0	0
Total derivative assets, net	113	388
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	113	388
Securities purchased under agreements to resell
Securities purchased under agreements to resell:
Cash Collateral Netting	$ 0	$ 0

Collateral and Offsetting of _5

Collateral and Offsetting of Assets and Liabilities - Offsetting of Financial Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative Liabilities:
Gross Amount Recognized	$ (8,534)	$ (9,671)
Counterparty netting	5,093	5,932
Cash collateral netting	2,934	2,785
Derivative liabilities, net	(507)	(954)
Gross Amount Not Offset in the Consolidated Balance Sheets	28	0
Net Amount	(479)	(954)
Securities Sold under Agreements to Repurchase [Abstract]
Gross Amount Recognized	(4,620)	0
Counterparty netting	4,620	0
Net Amount Presented in the Consolidated Balance Sheets	0	0
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	0	0
Offsetting Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned [Abstract]
Gross Amount Recognized	(13,154)	(9,671)
Counterparty netting	9,713	5,932
Cash collateral netting	2,934	2,785
Net Amount Presented in the Consolidated Balance Sheets	(507)	(954)
Gross Amount Not Offset in the Consolidated Balance Sheets	28	0
Net Amount	(479)	(954)
Other
Derivative Liabilities:
Gross Amount Recognized	(62)	(63)
Counterparty netting	0	0
Cash collateral netting	0	0
Derivative liabilities, net	(62)	(63)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(62)	(63)
OTC derivatives
Derivative Liabilities:
Gross Amount Recognized	(8,197)	(8,812)
Counterparty netting	5,088	5,932
Cash collateral netting	2,902	2,759
Derivative liabilities, net	(207)	(121)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(207)	(121)
Cleared and exchange-traded derivatives
Derivative Liabilities:
Gross Amount Recognized	(65)	(37)
Counterparty netting	5	0
Cash collateral netting	32	26
Derivative liabilities, net	(28)	(11)
Gross Amount Not Offset in the Consolidated Balance Sheets	28	0
Net Amount	0	(11)
Mortgage commitment derivatives
Derivative Liabilities:
Gross Amount Recognized	(210)	(759)
Counterparty netting	0	0
Cash collateral netting	0	0
Derivative liabilities, net	(210)	(759)
Gross Amount Not Offset in the Consolidated Balance Sheets	0	0
Net Amount	(210)	(759)
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	Jun. 30, 2021	Dec. 31, 2020
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	$ 8,382	$ 3,549
Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	1,888	2,041
Securities sold under agreements to repurchase
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	4,623	0
Other
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	1,871	1,508
Cash equivalents
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	569
Cash equivalents | Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	0
Cash equivalents | Securities sold under agreements to repurchase
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	569
Cash equivalents | Other
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	0
Debt securities of consolidated trusts
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	335	466
Debt securities of consolidated trusts | Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	0	121
Debt securities of consolidated trusts | Securities sold under agreements to repurchase
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	0	0
Debt securities of consolidated trusts | Other
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	335	345
Trading securities
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	7,478	3,083
Trading securities | Derivatives
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	1,888	1,920
Trading securities | Securities sold under agreements to repurchase
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	4,054	0
Trading securities | Other
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	$ 1,536	$ 1,163

Collateral and Offsetting of _7

Collateral and Offsetting of Assets and Liabilities - Underlying Collateral Pledged (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	$ 8,382	$ 3,549
Securities sold under agreements to repurchase
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	4,623	$ 0
Securities sold under agreements to repurchase | Overnight and continuous
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	2,875
Securities sold under agreements to repurchase | 30 days or less
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	1,748
Securities sold under agreements to repurchase | After 30 days through 90 days
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	0
Securities sold under agreements to repurchase | Greater than 90 days
Collateral in the Form of Securities Pledged [Line Items]
Total securities pledged	$ 0

Stockholders' Equity and Earn_3

Stockholders' Equity and Earnings per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2021	Sep. 30, 2021
Stockholders Equity Text [Line Items]
Federal statutory tax rate			21.00%
Senior preferred stock	$ 91,400,000,000	$ 89,100,000,000	$ 91,400,000,000
Net worth increase	3,600,000,000	$ 2,400,000,000
Expected draw request from Treasury	$ 0		0
Common dividends declared			0
Cash dividends paid on senior preferred stock			0
Dividends declared on preferred stock			$ 0
Subsequent Event
Stockholders Equity Text [Line Items]
Senior preferred stock				$ 95,000,000,000

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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 18,791	$ 9,504	$ 16,413	$ 9,122
Other comprehensive income (loss) before reclassifications	6	160	(100)	608
Amounts reclassified from accumulated other comprehensive income	(74)	1	(357)	2
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(68)	161	(457)	610
Ending balance	22,402	11,442	22,402	11,442
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	254	887	643	438
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(68)	161	(457)	610
Ending balance	186	1,048	186	1,048
AOCI related to available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	415	1,056	810	618
Other comprehensive income (loss) before reclassifications	6	160	(99)	606
Amounts reclassified from accumulated other comprehensive income	(79)	(6)	(369)	(14)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(73)	154	(468)	592
Ending balance	342	1,210	342	1,210
AOCI related to cash flow hedge relationships
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(196)	(231)	(206)	(244)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive income	8	11	18	24
Total other comprehensive income (loss), net of taxes and reclassification adjustments	8	11	18	24
Ending balance	(188)	(220)	(188)	(220)
AOCI related to defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	35	62	39	64
Other comprehensive income (loss) before reclassifications	0	0	(1)	2
Amounts reclassified from accumulated other comprehensive income	(3)	(4)	(6)	(8)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(3)	(4)	(7)	(6)
Ending balance	$ 32	$ 58	$ 32	$ 58

Stockholders' Equity and Earn_5

Stockholders' Equity and Earnings per Share - Reclassifications from AOCI to Net Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Investment gains (losses), net	$ 636	$ 670	$ 1,844	$ (165)
Interest expense	(10,463)	(12,840)	(20,726)	(27,647)
Salaries and employee benefits	(346)	(327)	(690)	(668)
Income tax (expense) benefit	(958)	(458)	(1,672)	(503)
Net income (loss)	3,679	1,777	6,446	1,950
Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	74	(1)	357	(2)
AOCI related to available-for-sale securities | Total reclassifications in the period
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Investment gains (losses), net	99	7	467	17
Income tax (expense) benefit	(20)	(1)	(98)	(3)
Net income (loss)	79	6	369	14
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	2	3	3	6
Net income (loss)	(8)	(11)	(18)	(24)
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	(10)	(14)	(21)	(30)
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	4	5	8	10
Income tax (expense) benefit	(1)	(1)	(2)	(2)
Net income (loss)	$ 3	$ 4	$ 6	$ 8

Stockholders' Equity and Earn_6

Stockholders' Equity and Earnings per Share - Senior Preferred Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Mar. 30, 2018	Jun. 29, 2012	Mar. 30, 2012	Dec. 30, 2011	Sep. 30, 2011	Mar. 31, 2011	Dec. 30, 2010	Sep. 30, 2010	Jun. 30, 2010	Jun. 30, 2009	Mar. 31, 2009	Nov. 24, 2008	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2017	Sep. 08, 2008
Class of Stock [Line Items]
Non draw adjustment													$ 19,791,000
Aggregate liquidation preference on senior preferred stock													$ 91,400,000	$ 89,100,000
Senior Preferred Stock
Class of Stock [Line Items]
Shares Authorized													1,000
Shares Outstanding													1,000
Total Par Value													$ 1,000
Initial Liquidation Preference Price Per Share													$ 1,000
Total Liquidation Preference																						$ 1,000,000
Increase in Senior Preferred Stock																					$ 3,000,000
Increase in liquidation preference due to net worth increase													$ 2,378,000	$ 2,522,000	$ 2,449,000	$ 1,938,000	$ 382,000	$ 2,448,000	$ 1,848,000	$ 1,826,000
Increase in liquidation preference	$ 312,000	$ 19,000	$ 146,000	$ 5,992,000	$ 1,479,000	$ 500,000	$ 100,000	$ 1,800,000	$ 10,600,000	$ 6,100,000	$ 30,800,000	$ 13,800,000	71,648,000
Aggregate liquidation preference on senior preferred stock													$ 91,439,000

Net Interest Income (Details)

Net Interest Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest income
Mortgage loans	$ 14,590	$ 15,026	$ 27,845	$ 31,658
Investment securities	617	637	1,227	1,289
Other	23	53	60	361
Interest income	15,230	15,716	29,132	33,308
Interest expense
Total interest expense	(10,463)	(12,840)	(20,726)	(27,647)
Net interest income	4,767	2,876	8,406	5,661
Benefit (provision) for credit losses	740	(705)	936	(1,938)
Net interest income after benefit (provision) for credit losses	5,507	2,171	9,342	3,723
Held by consolidated trusts
Interest expense
Debt securities of consolidated trusts held by third parties	(10,032)	(11,975)	(19,788)	(25,422)
Held by Freddie Mac
Interest expense
Short-term debt	0	(130)	(2)	(560)
Long-term debt	$ (431)	$ (735)	$ (936)	$ (1,665)

Investment Gains (Losses), Ne_2

Investment Gains (Losses), Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investment Gains (Losses), Net [Abstract]
Mortgage loans gains (losses)	$ 1,511	$ 1,046	$ 1,717	$ 2,218
Investment securities gains (losses)	(330)	65	(837)	1,120
Debt gains (losses)	18	60	156	760
Derivative gains (losses)	(563)	(501)	808	(4,263)
Investment gains (losses), net	$ 636	$ 670	$ 1,844	$ (165)

Segment Reporting (Details)

Segment Reporting (Details) - segment	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Number of reportable segments	2	3

Segment Reporting - Segment Ear

Segment Reporting - Segment Earnings and Reconciliation to GAAP Condensed Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	$ 4,767	$ 2,876	$ 8,406	$ 5,661
Non-interest income (loss)
Guarantee income	356	469	604	846
Investment gains (losses), net	636	670	1,844	(165)
Other income (loss)	107	134	285	229
Non-interest income (loss)	1,099	1,273	2,733	910
Net revenues	5,866	4,149	11,139	6,571
Benefit (provision) for credit losses	740	(705)	936	(1,938)
Non-interest expense
Administrative expense	(651)	(601)	(1,290)	(1,188)
Credit enhancement expense	(369)	(233)	(704)	(464)
Benefit for (decrease in) credit enhancement recoveries	(193)	221	(450)	688
REO operations (expense) income	(7)	(14)	(15)	(99)
Temporary Payroll Tax Cut Continuation Act of 2011 expense	(570)	(442)	(1,104)	(874)
Other expense	(179)	(140)	(394)	(243)
Non-interest expense	(1,969)	(1,209)	(3,957)	(2,180)
Income before income tax (expense) benefit	4,637	2,235	8,118	2,453
Income tax (expense) benefit	(958)	(458)	(1,672)	(503)
Net income (loss)	3,679	1,777	6,446	1,950
Changes in unrealized gains (losses) related to available-for-sale securities	(73)	154	(468)	592
Changes in unrealized gains (losses) related to cash flow hedge relationships	8	11	18	24
Changes in defined benefit plans	(3)	(4)	(7)	(6)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(68)	161	(457)	610
Comprehensive income (loss)	3,611	1,938	5,989	2,560
Single-family | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	4,460	2,590	7,768	5,075
Non-interest income (loss)
Guarantee income	10	55	99	42
Investment gains (losses), net	137	(61)	437	(37)
Other income (loss)	108	83	260	141
Non-interest income (loss)	255	77	796	146
Net revenues	4,715	2,667	8,564	5,221
Benefit (provision) for credit losses	686	(624)	832	(1,790)
Non-interest expense
Administrative expense	(503)	(477)	(991)	(944)
Credit enhancement expense	(361)	(228)	(686)	(455)
Benefit for (decrease in) credit enhancement recoveries	(190)	219	(435)	658
REO operations (expense) income	(7)	(14)	(15)	(99)
Temporary Payroll Tax Cut Continuation Act of 2011 expense	(570)	(442)	(1,104)	(874)
Other expense	(172)	(131)	(381)	(229)
Non-interest expense	(1,803)	(1,073)	(3,612)	(1,943)
Income before income tax (expense) benefit	3,598	970	5,784	1,488
Income tax (expense) benefit	(743)	(198)	(1,191)	(305)
Net income (loss)	2,855	772	4,593	1,183
Changes in unrealized gains (losses) related to available-for-sale securities	(79)	95	(414)	469
Changes in unrealized gains (losses) related to cash flow hedge relationships	8	11	18	24
Changes in defined benefit plans	(3)	(3)	(6)	(5)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	(74)	103	(402)	488
Comprehensive income (loss)	2,781	875	4,191	1,671
Multifamily | Operating segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net interest income	307	286	638	586
Non-interest income (loss)
Guarantee income	346	414	505	804
Investment gains (losses), net	499	731	1,407	(128)
Other income (loss)	(1)	51	25	88
Non-interest income (loss)	844	1,196	1,937	764
Net revenues	1,151	1,482	2,575	1,350
Benefit (provision) for credit losses	54	(81)	104	(148)
Non-interest expense
Administrative expense	(148)	(124)	(299)	(244)
Credit enhancement expense	(8)	(5)	(18)	(9)
Benefit for (decrease in) credit enhancement recoveries	(3)	2	(15)	30
REO operations (expense) income	0	0	0	0
Temporary Payroll Tax Cut Continuation Act of 2011 expense	0	0	0	0
Other expense	(7)	(9)	(13)	(14)
Non-interest expense	(166)	(136)	(345)	(237)
Income before income tax (expense) benefit	1,039	1,265	2,334	965
Income tax (expense) benefit	(215)	(260)	(481)	(198)
Net income (loss)	824	1,005	1,853	767
Changes in unrealized gains (losses) related to available-for-sale securities	6	59	(54)	123
Changes in unrealized gains (losses) related to cash flow hedge relationships	0	0	0	0
Changes in defined benefit plans	0	(1)	(1)	(1)
Total other comprehensive income (loss), net of taxes and reclassification adjustments	6	58	(55)	122
Comprehensive income (loss)	$ 830	$ 1,063	$ 1,798	$ 889

Segment Reporting - Segment Ass

Segment Reporting - Segment Assets (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 2,842,142	$ 2,627,415
Reconciling items
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	(119,874)	(87,358)
Single-family | Operating segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,563,589	2,326,426
Multifamily | Operating segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	398,427	388,347
Operating segments | Operating segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 2,962,016	$ 2,714,773

Concentration of Credit and O_3

Concentration of Credit and Other Risks (Details) - USD ($) $ in Billions	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Concentration Risk [Line Items]
Unpaid principal balance related to single-family credit guarantee portfolio	$ 2,600		$ 2,300
Securities purchased under agreements to resell used to provide financing to investors	$ 0.7		0.8
Top five non-depository seller | Single-family loan purchase volume | Five Largest Non Depository Sellers
Concentration Risk [Line Items]
Concentration risk percentage	29.00%	24.00%
Mortgage Insurers
Concentration Risk [Line Items]
Credit protection coverage from mortgage insurers for single family credit guarantee portfolio	$ 123
Unpaid principal balance of single family credit guarantee portfolio With mortgage insurance coverage	501.8
Amount of cumulative unpaid deferred payment obligation	0.4		0.4
Cash And Other Investment Counterparties
Concentration Risk [Line Items]
Cash and other non-mortgage investments	$ 171		$ 163.1
Top ten Single-family sellers/servicers | Single-family loan purchase volume | Single Family Top 10 Sellers
Concentration Risk [Line Items]
Concentration risk percentage	49.00%	46.00%
Single Family Servicers | Single-family UPB | Five Largest Non Depository Servicers
Concentration Risk [Line Items]
Concentration risk percentage	19.00%		18.00%

Concentration of Credit and O_4

Concentration of Credit and Other Risks - Concentration of Credit Risk - Single-Family Credit Guarantee Portfolio (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Concentration Risk [Line Items]
Single-Family serious delinquency rate	1.86%		2.64%
UPB of Single-Family loans for which data was not available	$ 476,000,000		$ 505,000,000
West
Concentration Risk [Line Items]
Single-Family serious delinquency rate	1.65%		2.41%
Northeast
Concentration Risk [Line Items]
Single-Family serious delinquency rate	2.30%		3.16%
North Central
Concentration Risk [Line Items]
Single-Family serious delinquency rate	1.52%		2.06%
Southeast
Concentration Risk [Line Items]
Single-Family serious delinquency rate	2.02%		2.95%
Southwest
Concentration Risk [Line Items]
Single-Family serious delinquency rate	1.82%		2.59%
California
Concentration Risk [Line Items]
Single-Family serious delinquency rate	1.80%		2.64%
Texas
Concentration Risk [Line Items]
Single-Family serious delinquency rate	2.13%		3.11%
Florida
Concentration Risk [Line Items]
Single-Family serious delinquency rate	2.42%		3.70%
New York
Concentration Risk [Line Items]
Single-Family serious delinquency rate	3.43%		4.56%
Illinois
Concentration Risk [Line Items]
Single-Family serious delinquency rate	2.34%		2.96%
All Other
Concentration Risk [Line Items]
Single-Family serious delinquency rate	1.66%		2.34%
Single-family UPB | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 2,563,000,000,000		$ 2,326,000,000,000
Concentration risk percentage	100.00%	100.00%	100.00%
Concentration risk, credit loss amount	$ 0	$ 300,000,000
Single-family UPB | West | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 800,000,000,000		$ 720,000,000,000
Concentration risk percentage	31.00%		31.00%
Concentration risk, credit loss amount	$ 0	0
Single-family UPB | Northeast | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 608,000,000,000		$ 549,000,000,000
Concentration risk percentage	24.00%		24.00%
Concentration risk, credit loss amount	$ 0	100,000,000
Single-family UPB | North Central | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 385,000,000,000		$ 357,000,000,000
Concentration risk percentage	15.00%		15.00%
Concentration risk, credit loss amount	$ 0	100,000,000
Single-family UPB | Southeast | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 412,000,000,000		$ 375,000,000,000
Concentration risk percentage	16.00%		16.00%
Concentration risk, credit loss amount	$ 0	100,000,000
Single-family UPB | Southwest | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 358,000,000,000		$ 325,000,000,000
Concentration risk percentage	14.00%		14.00%
Concentration risk, credit loss amount	$ 0	0
Single-family UPB | California | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 472,000,000,000		$ 424,000,000,000
Concentration risk percentage	19.00%		18.00%
Concentration risk, credit loss amount	$ 0	0
Single-family UPB | Texas | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 158,000,000,000		$ 145,000,000,000
Concentration risk percentage	6.00%		6.00%
Concentration risk, credit loss amount	$ 0	0
Single-family UPB | Florida | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 149,000,000,000		$ 135,000,000,000
Concentration risk percentage	6.00%		6.00%
Concentration risk, credit loss amount	$ 0	0
Single-family UPB | New York | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 111,000,000,000		$ 103,000,000,000
Concentration risk percentage	4.00%		4.00%
Concentration risk, credit loss amount	$ 0	0
Single-family UPB | Illinois | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 102,000,000,000		$ 96,000,000,000
Concentration risk percentage	4.00%		4.00%
Concentration risk, credit loss amount	$ 0	100,000,000
Single-family UPB | All Other | Geographic Concentration Risk
Concentration Risk [Line Items]
Portfolio UPB	$ 1,571,000,000,000		$ 1,423,000,000,000
Concentration risk percentage	61.00%		62.00%
Concentration risk, credit loss amount	$ 0	$ 200,000,000
Single-family Credit Losses | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		100.00%
Single-family Credit Losses | West | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		6.00%
Single-family Credit Losses | Northeast | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		38.00%
Single-family Credit Losses | North Central | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		27.00%
Single-family Credit Losses | Southeast | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		20.00%
Single-family Credit Losses | Southwest | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		9.00%
Single-family Credit Losses | California | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		4.00%
Single-family Credit Losses | Texas | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		3.00%
Single-family Credit Losses | Florida | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		11.00%
Single-family Credit Losses | New York | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		10.00%
Single-family Credit Losses | Illinois | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		14.00%
Single-family Credit Losses | All Other | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk percentage		58.00%

Concentration of Credit and O_5

Concentration of Credit and Other Risks - Certain Higher-Risk Categories in the Single-Family Credit Guarantee Portfolio (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Single-Family serious delinquency rate	1.86%	2.64%
UPB of Single-Family loans for which data was not available	$ 476	$ 505
Loan Risk Category | Alt-A
Concentration Risk [Line Items]
Single-Family serious delinquency rate	9.07%	10.66%
Loan Risk Category | Original LTV ratio greater than 90%
Concentration Risk [Line Items]
Single-Family serious delinquency rate	3.31%	4.25%
Loan Risk Category | Lower credit scores at origination (less than 620)
Concentration Risk [Line Items]
Single-Family serious delinquency rate	9.45%	11.00%
Single-family UPB | Loan Risk Category | Alt-A
Concentration Risk [Line Items]
Percentage of Portfolio	1.00%	1.00%
Single-family UPB | Loan Risk Category | Original LTV ratio greater than 90%
Concentration Risk [Line Items]
Percentage of Portfolio	13.00%	15.00%
Single-family UPB | Loan Risk Category | Lower credit scores at origination (less than 620)
Concentration Risk [Line Items]
Percentage of Portfolio	1.00%	1.00%

Concentration of Credit and O_6

Concentration of Credit and Other Risks - Seller Concentration (Details) - Multifamily Sellers - Multifamily loan purchase volume	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Top ten multifamily sellers
Concentration Risk [Line Items]
Concentration risk percentage	80.00%	77.00%
Berkadia Commercial Mortgage LLC
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	15.00%
CBRE Capital Markets, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	14.00%
Other top 10 sellers
Concentration Risk [Line Items]
Concentration risk percentage	50.00%	48.00%

Concentration of Credit and O_7

Concentration of Credit and Other Risks - Servicer Concentration (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Single-family loan serviced | Single Family Servicers | Top ten Single-family sellers/servicers
Concentration Risk [Line Items]
Concentration risk percentage	47.00%	49.00%
Single-family loan serviced | Single Family Servicers | Wells Fargo Bank, N.A.
Concentration Risk [Line Items]
Concentration risk percentage	9.00%	11.00%
Single-family loan serviced | Single Family Servicers | Other top 10 sellers
Concentration Risk [Line Items]
Concentration risk percentage	38.00%	38.00%
Multifamily loan serviced | Multifamily Servicers | Top ten multifamily servicers
Concentration Risk [Line Items]
Concentration risk percentage	81.00%	80.00%
Multifamily loan serviced | Multifamily Servicers | CBRE Capital Markets, Inc
Concentration Risk [Line Items]
Concentration risk percentage	16.00%	17.00%
Multifamily loan serviced | Multifamily Servicers | Berkadia Commercial Mortgage LLC
Concentration Risk [Line Items]
Concentration risk percentage	13.00%	13.00%
Multifamily loan serviced | Multifamily Servicers | JLL Real Estate Capital LLC
Concentration Risk [Line Items]
Concentration risk percentage	11.00%	11.00%
Multifamily loan serviced | Multifamily Servicers | Other top 10 servicers
Concentration Risk [Line Items]
Concentration risk percentage	41.00%	39.00%

Concentration of Credit and O_8

Concentration of Credit and Other Risks - Mortgage Insurer Concentration (Details) - Mortgage insurance coverage - Mortgage Insurer Counterparty	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Arch Mortgage Insurance Company
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	20.00%
Mortgage Guaranty Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	19.00%	18.00%
Radian Guaranty Inc.
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	19.00%
Essent Guaranty, Inc.
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	16.00%
Genworth Mortgage Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	15.00%
National Mortgage Insurance Corporation
Concentration Risk [Line Items]
Concentration risk percentage	12.00%	10.00%
Total
Concentration Risk [Line Items]
Concentration risk percentage	99.00%	98.00%

Fair Value Disclosures - Assets

Fair Value Disclosures - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	$ 6,811	$ 14,199
Derivative Assets Net [Abstract]
Total derivative assets, net	756	1,205
Other Assets [Abstract]
Total other assets	6,080	5,775
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	2,073	2,592
Derivative Liabilities Net [Abstract]
Total derivative liabilities, net	507	954
Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	252	205
Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	1,800	2,400
Fair Value, Measurements, Recurring
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	4,567	15,367
Trading, at Fair Value:
Trading securities, at fair value	54,991	44,458
Total investments in securities	59,558	59,825
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	6,811	14,199
Derivative Assets Net [Abstract]
Derivative assets at fair value	6,724	8,579
Netting adjustments	(5,968)	(7,374)
Total derivative assets, net	756	1,205
Other Assets [Abstract]
Guarantee assets, at fair value	5,869	5,509
Non-derivative held-for-sale purchase commitments, at fair value	141	158
All other, at fair value	70	108
Total other assets	6,080	5,775
Total assets carried at fair value on a recurring basis	73,205	81,004
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	8,071	9,148
Netting Adjustment	(7,564)	(8,194)
Total derivative liabilities, net	507	954
Other liabilities:
Non-derivative held-for-sale purchase commitments, at fair value		1
All other, at fair value		3
Total other liabilities		4
Total liabilities carried at fair value on a recurring basis	2,580	3,550
Fair Value, Measurements, Recurring | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	252	205
Fair Value, Measurements, Recurring | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	1,821	2,387
Fair Value, Measurements, Recurring | Mortage-related securities
Trading, at Fair Value:
Trading securities, at fair value		17,505
Fair Value, Measurements, Recurring | Agency
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	3,568	14,304
Trading, at Fair Value:
Trading securities, at fair value	21,708	17,504
Fair Value, Measurements, Recurring | Non-agency and other
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	999	1,063
Fair Value, Measurements, Recurring | Non-agency
Trading, at Fair Value:
Trading securities, at fair value		1
Fair Value, Measurements, Recurring | Non-mortgage-related securities
Trading, at Fair Value:
Trading securities, at fair value	33,283	26,953
Fair Value, Measurements, Recurring | Level 1
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	0	0
Trading, at Fair Value:
Trading securities, at fair value	32,269	26,255
Total investments in securities	32,269	26,255
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative assets at fair value	17	0
Total derivative assets, net	17	0
Other Assets [Abstract]
Guarantee assets, at fair value	0	0
Non-derivative held-for-sale purchase commitments, at fair value	0	0
All other, at fair value	0	0
Total other assets	0	0
Total assets carried at fair value on a recurring basis	32,286	26,255
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	0	0
Total derivative liabilities, net	0	0
Other liabilities:
Non-derivative held-for-sale purchase commitments, at fair value		0
All other, at fair value		0
Total other liabilities		0
Total liabilities carried at fair value on a recurring basis	0	0
Fair Value, Measurements, Recurring | Level 1 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Mortage-related securities
Trading, at Fair Value:
Trading securities, at fair value		0
Fair Value, Measurements, Recurring | Level 1 | Agency
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	0	0
Trading, at Fair Value:
Trading securities, at fair value	0	0
Fair Value, Measurements, Recurring | Level 1 | Non-agency and other
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Non-agency
Trading, at Fair Value:
Trading securities, at fair value		0
Fair Value, Measurements, Recurring | Level 1 | Non-mortgage-related securities
Trading, at Fair Value:
Trading securities, at fair value	32,269	26,255
Fair Value, Measurements, Recurring | Level 2
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	3,093	13,779
Trading, at Fair Value:
Trading securities, at fair value	19,199	14,944
Total investments in securities	22,292	28,723
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	6,811	14,199
Derivative Assets Net [Abstract]
Derivative assets at fair value	6,682	8,516
Total derivative assets, net	6,682	8,516
Other Assets [Abstract]
Guarantee assets, at fair value	0	0
Non-derivative held-for-sale purchase commitments, at fair value	141	158
All other, at fair value	0	0
Total other assets	141	158
Total assets carried at fair value on a recurring basis	35,926	51,596
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	8,048	9,132
Total derivative liabilities, net	8,048	9,132
Other liabilities:
Non-derivative held-for-sale purchase commitments, at fair value		1
All other, at fair value		0
Total other liabilities		1
Total liabilities carried at fair value on a recurring basis	9,753	11,402
Fair Value, Measurements, Recurring | Level 2 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	1	2
Fair Value, Measurements, Recurring | Level 2 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	1,704	2,267
Fair Value, Measurements, Recurring | Level 2 | Mortage-related securities
Trading, at Fair Value:
Trading securities, at fair value		14,246
Fair Value, Measurements, Recurring | Level 2 | Agency
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	3,092	13,778
Trading, at Fair Value:
Trading securities, at fair value	18,185	14,246
Fair Value, Measurements, Recurring | Level 2 | Non-agency and other
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	1	1
Fair Value, Measurements, Recurring | Level 2 | Non-agency
Trading, at Fair Value:
Trading securities, at fair value		0
Fair Value, Measurements, Recurring | Level 2 | Non-mortgage-related securities
Trading, at Fair Value:
Trading securities, at fair value	1,014	698
Fair Value, Measurements, Recurring | Level 3
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	1,474	1,588
Trading, at Fair Value:
Trading securities, at fair value	3,523	3,259
Total investments in securities	4,997	4,847
Mortgage Loans [Abstract]
Mortgage loans, held for sale, at fair value	0	0
Derivative Assets Net [Abstract]
Derivative assets at fair value	25	63
Total derivative assets, net	25	63
Other Assets [Abstract]
Guarantee assets, at fair value	5,869	5,509
Non-derivative held-for-sale purchase commitments, at fair value	0	0
All other, at fair value	70	108
Total other assets	5,939	5,617
Total assets carried at fair value on a recurring basis	10,961	10,527
Derivative Liabilities Net [Abstract]
Derivative liabilities at fair value	23	16
Total derivative liabilities, net	23	16
Other liabilities:
Non-derivative held-for-sale purchase commitments, at fair value		0
All other, at fair value		3
Total other liabilities		3
Total liabilities carried at fair value on a recurring basis	391	342
Fair Value, Measurements, Recurring | Level 3 | Held by consolidated trusts
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	251	203
Fair Value, Measurements, Recurring | Level 3 | Held by Freddie Mac
Liabilities, Fair Value Disclosure [Abstract]
Debt instrument recorded at fair value	117	120
Fair Value, Measurements, Recurring | Level 3 | Mortage-related securities
Trading, at Fair Value:
Trading securities, at fair value		3,259
Fair Value, Measurements, Recurring | Level 3 | Agency
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	476	526
Trading, at Fair Value:
Trading securities, at fair value	3,523	3,258
Fair Value, Measurements, Recurring | Level 3 | Non-agency and other
Available-For-Sale, at Fair Value:
Debt Securities, Available-for-sale	998	1,062
Fair Value, Measurements, Recurring | Level 3 | Non-agency
Trading, at Fair Value:
Trading securities, at fair value		1
Fair Value, Measurements, Recurring | Level 3 | Non-mortgage-related securities
Trading, at Fair Value:
Trading securities, at fair value	$ 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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt | Held by Freddie Mac
Liabilities:
Beginning Balance	$ 120	$ 151	$ 120	$ 129
Included in Earnings	(3)	1	0	0
Included in Other Comprehensive Income	0	0	0	0
Purchases	0	0	0	0
Issues	0	1	1	2
Sales	0	0	0	0
Settlements, Net	0	(7)	(4)	(8)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	(23)	0	0
Ending Balance	117	123	117	123
Unrealized Gains (Losses) Still Held - Liabilities	(2)	1	0	0
Unrealized Gains (Losses) Still Held, Liabilities, OCI	0	0	0	0
Debt | Held by consolidated trusts
Liabilities:
Beginning Balance	260	199	203	203
Included in Earnings	(13)	3	(10)	(1)
Included in Other Comprehensive Income	0	0	0	0
Purchases	0	0	0	0
Issues	35	0	88	0
Sales	0	0	0	0
Settlements, Net	(31)	0	(30)	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	251	202	251	202
Unrealized Gains (Losses) Still Held - Liabilities	(12)	3	(8)	(1)
Unrealized Gains (Losses) Still Held, Liabilities, OCI	0	0	0	0
Derivative Liabilities
Liabilities:
Beginning Balance	34	24	16	37
Included in Earnings	(8)	(5)	11	(14)
Included in Other Comprehensive Income	0	0	0	0
Purchases	0	0	0	0
Issues	0	0	2	2
Sales	0	0	0	0
Settlements, Net	(3)	(2)	(6)	(8)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	23	17	23	17
Unrealized Gains (Losses) Still Held - Liabilities	(11)	(28)	5	(22)
Unrealized Gains (Losses) Still Held, Liabilities, OCI	0	0	0	0
All Other Liabilities
Liabilities:
Beginning Balance	0	1	3	1
Included in Earnings	(1)	0	(5)	0
Included in Other Comprehensive Income	0	0	0	0
Purchases	1	0	2	0
Issues	0	0	0	0
Sales	0	0	0	0
Settlements, Net	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	0	1	0	1
Unrealized Gains (Losses) Still Held - Liabilities	(1)	0	(5)	0
Unrealized Gains (Losses) Still Held, Liabilities, OCI	0	0	0	0
Available-for-sale securities
Assets:
Beginning Balance	1,836	1,751	1,588	3,227
Included in Earnings	5	4	12	19
Included in Other Comprehensive Income	9	49	4	(40)
Purchases	0	197	0	197
Issues	0	0	0	0
Sales	(296)	(10)	0	(218)
Settlements, net	(80)	(71)	(130)	(170)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	(1,095)
Ending Balance	1,474	1,920	1,474	1,920
Unrealized Gains (Losses) Still Held - Assets	6	4	12	7
Unrealized Gains (Losses) Still Held, Assets, OCI	7	38	3	(64)
Available-for-sale securities | Agency
Assets:
Beginning Balance	801	650	526	1,960
Included in Earnings	0	0	0	12
Included in Other Comprehensive Income	1	8	(5)	46
Purchases	0	197	0	197
Issues	0	0	0	0
Sales	(296)	(10)	0	(218)
Settlements, net	(30)	(31)	(45)	(88)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	(1,095)
Ending Balance	476	814	476	814
Unrealized Gains (Losses) Still Held - Assets	0	0	0	0
Unrealized Gains (Losses) Still Held, Assets, OCI	0	6	(4)	4
Available-for-sale securities | Non-agency and other
Assets:
Beginning Balance	1,035	1,101	1,062	1,267
Included in Earnings	5	4	12	7
Included in Other Comprehensive Income	8	41	9	(86)
Purchases	0	0	0	0
Issues	0	0	0	0
Sales	0	0	0	0
Settlements, net	(50)	(40)	(85)	(82)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	998	1,106	998	1,106
Unrealized Gains (Losses) Still Held - Assets	6	4	12	7
Unrealized Gains (Losses) Still Held, Assets, OCI	7	32	7	(68)
Trading securities
Assets:
Beginning Balance	3,062	2,545	3,259	2,710
Included in Earnings	(171)	(53)	(356)	(37)
Included in Other Comprehensive Income	0	0	0	0
Purchases	737	742	1,112	923
Issues	0	0	0	0
Sales	0	(170)	(269)	(104)
Settlements, net	(23)	(11)	(43)	(42)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(82)	0	(180)	(397)
Ending Balance	3,523	3,053	3,523	3,053
Unrealized Gains (Losses) Still Held - Assets	(177)	(49)	(364)	(44)
Unrealized Gains (Losses) Still Held, Assets, OCI	0	0	0	0
Trading securities | Agency
Assets:
Beginning Balance	3,061	2,544	3,258	2,709
Included in Earnings	(170)	(53)	(355)	(37)
Included in Other Comprehensive Income	0	0	0	0
Purchases	737	742	1,112	923
Issues	0	0	0	0
Sales	0	(170)	(269)	(104)
Settlements, net	(23)	(11)	(43)	(42)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(82)	0	(180)	(397)
Ending Balance	3,523	3,052	3,523	3,052
Unrealized Gains (Losses) Still Held - Assets	(177)	(49)	(364)	(44)
Unrealized Gains (Losses) Still Held, Assets, OCI	0	0	0	0
Trading securities | Non-agency
Assets:
Beginning Balance	1	1	1	1
Included in Earnings	(1)	0	(1)	0
Included in Other Comprehensive Income	0	0	0	0
Purchases	0	0	0	0
Issues	0	0	0	0
Sales	0	0	0	0
Settlements, net	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	0	1	0	1
Unrealized Gains (Losses) Still Held - Assets	0	0	0	0
Unrealized Gains (Losses) Still Held, Assets, OCI	0	0	0	0
Derivative Assets
Assets:
Beginning Balance	30	63	63	16
Included in Earnings	(5)	(1)	(38)	45
Included in Other Comprehensive Income	0	0	0	0
Purchases	0	0	0	0
Issues	0	0	0	1
Sales	0	0	0	0
Settlements, net	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	25	62	25	62
Unrealized Gains (Losses) Still Held - Assets	(5)	51	(38)	45
Unrealized Gains (Losses) Still Held, Assets, OCI	0	0	0	0
Other Asset
Assets:
Beginning Balance	5,803	4,671	5,617	4,546
Included in Earnings	(34)	160	(112)	251
Included in Other Comprehensive Income	0	0	0	0
Purchases	5	(6)	1	(6)
Issues	420	295	915	524
Sales	(9)	0	(9)	(8)
Settlements, net	(246)	(182)	(473)	(369)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	5,939	4,938	5,939	4,938
Unrealized Gains (Losses) Still Held - Assets	9	160	(108)	251
Unrealized Gains (Losses) Still Held, Assets, OCI	0	0	0	0
All Other, at fair value
Assets:
Beginning Balance	115	106	108	120
Included in Earnings	(39)	(3)	(29)	(11)
Included in Other Comprehensive Income	0	0	0	0
Purchases	5	(6)	1	(6)
Issues	4	6	10	12
Sales	(9)	0	(9)	(8)
Settlements, net	(6)	11	(11)	7
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	70	114	70	114
Unrealized Gains (Losses) Still Held - Assets	(39)	(3)	(29)	(11)
Unrealized Gains (Losses) Still Held, Assets, OCI	0	0	0	0
Guarantee Asset
Assets:
Beginning Balance	5,688	4,565	5,509	4,426
Included in Earnings	5	163	(83)	262
Included in Other Comprehensive Income	0	0	0	0
Purchases	0	0	0	0
Issues	416	289	905	512
Sales	0	0	0	0
Settlements, net	(240)	(193)	(462)	(376)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Ending Balance	5,869	4,824	5,869	4,824
Unrealized Gains (Losses) Still Held - Assets	48	163	(79)	262
Unrealized Gains (Losses) Still Held, Assets, OCI	$ 0	$ 0	$ 0	$ 0

Fair Value Disclosures - Quanti

Fair Value Disclosures - Quantitative Information about Recurring Level 3 Fair Value Measurements (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Liabilities
Debt instrument recorded at fair value	$ 2,073	$ 2,592
Held by consolidated trusts
Liabilities
Debt instrument recorded at fair value	252	205
Fair Value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	4,567	15,367
Trading, at Fair Value:
Trading securities, at fair value	54,991	44,458
Other assets:
Guarantee assets, at fair value	5,869	5,509
Total Assets carried at fair value on a recurring basis	73,205	81,004
Liabilities
Total liabilities carried at fair value on a recurring basis	2,580	3,550
Fair Value, Measurements, Recurring | Held by consolidated trusts
Liabilities
Debt instrument recorded at fair value	252	205
Fair Value, Measurements, Recurring | Mortgage-related securities
Trading, at Fair Value:
Trading securities, at fair value		17,505
Fair Value, Measurements, Recurring | Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	3,568	14,304
Trading, at Fair Value:
Trading securities, at fair value	21,708	17,504
Fair Value, Measurements, Recurring | Non-agency and other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	999	1,063
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	1,474	1,588
Trading, at Fair Value:
Trading securities, at fair value	3,523	3,259
Other assets:
Guarantee assets, at fair value	5,869	5,509
Insignificant level3 assets	95	171
Total Assets carried at fair value on a recurring basis	10,961	10,527
Liabilities
Insignificant level3 liabilities	140	139
Total liabilities carried at fair value on a recurring basis	391	342
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Discounted Cash Flows
Other assets:
Guarantee assets, at fair value	5,455	5,195
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Other
Other assets:
Guarantee assets, at fair value	414	314
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by consolidated trusts
Liabilities
Debt instrument recorded at fair value	251	203
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Single External Source
Liabilities
Debt instrument recorded at fair value	172	203
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Held by consolidated trusts | Other
Liabilities
Debt instrument recorded at fair value	79
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Mortgage-related securities
Trading, at Fair Value:
Trading securities, at fair value		3,259
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	476	526
Trading, at Fair Value:
Trading securities, at fair value	3,523	3,258
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Agency | Single External Source
Trading, at Fair Value:
Trading securities, at fair value	2,879	2,204
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Agency | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	379	410
Trading, at Fair Value:
Trading securities, at fair value		472
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Agency | Other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	97	116
Trading, at Fair Value:
Trading securities, at fair value	644	583
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency and other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	998	1,062
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]
Debt Securities, Available-for-sale	855	875
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Non-agency and other | Other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-sale	$ 143	$ 187
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)	102.1	101.7
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)	99.9	97.3
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)	106.9	107
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Agency | Weighted Average | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.89%	0.90%
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Agency | Minimum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.89%	0.90%
Fair Value, Measurements, Recurring | Available-for-sale securities | Fair Value, Inputs, Level 3 | Agency | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	0.89%	0.90%
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)	72.4	72.8
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)	66.4	67.1
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)	79.5	79.1
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Agency | Weighted Average | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	596	947.8
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Agency | Weighted Average | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS		8.34%
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Agency | 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 | Agency | Minimum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS		(9.51%)
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Agency | Maximum | Single External Source
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
External Pricing Source(s)	7,971.4	8,894.6
Fair Value, Measurements, Recurring | Trading securities | Fair Value, Inputs, Level 3 | Agency | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS		29.10%
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	0.45%	0.38%
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%	0.15%
Fair Value, Measurements, Recurring | Guarantee Asset | Fair Value, Inputs, Level 3 | Maximum | Discounted Cash Flows
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
OAS	1.86%	1.86%

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	Jun. 30, 2021	Dec. 31, 2020
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 1,475	$ 2,247
Level 1
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	0	0
Level 2
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	32	6
Level 3
Assets, Fair Value Disclosure [Abstract]
Mortgage loans	$ 1,443	$ 2,241

Fair Value Disclosures - Fair_2

Fair Value Disclosures - Fair Value Assets Measured on Nonrecurring Basis Valuation Techniques (Details) - Fair Value, Measurements, Nonrecurring - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	$ 1,475,000,000	$ 2,247,000,000
Level 3
Assets, Fair Value Disclosure [Abstract]
Mortgage Loans Fair Value Disclosure	1,443,000,000	2,241,000,000
Level 3 | Mortgage loans | Minimum | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 3,150	$ 3,001
Housing Sales Index	0.72%	0.66%
Level 3 | Mortgage loans | Minimum | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	60	59.5
Level 3 | Mortgage loans | Maximum | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 622,325	$ 696,004
Housing Sales Index	6.37%	3.45%
Level 3 | Mortgage loans | Maximum | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	106.3	104
Level 3 | Mortgage loans | Weighted Average | Internal model
Assets, Fair Value Disclosure [Abstract]
Fair Value Inputs Historical Sale Proceeds	$ 209,088	$ 202,539
Housing Sales Index	1.27%	1.19%
Level 3 | Mortgage loans | Weighted Average | Median of external sources
Assets, Fair Value Disclosure [Abstract]
External Pricing Source(s)	95.2	92.1

Fair Value Disclosures - Fair_3

Fair Value Disclosures - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Financial Assets
Securities purchased under agreements to resell	$ 113,697	$ 105,003
Counterparty netting	(4,620)	0
Mortgage Loans [Abstract]
Derivative assets, net	756	1,205
Other Assets	6,080	5,775
Financial Liabilities
Debt, net	2,073	2,592
Counterparty netting	(4,620)	0
Derivative liabilities, net	507	954
Other liabilities	10,356	11,292
Held by Freddie Mac
Financial Liabilities
Debt, net	1,800	2,400
Held by consolidated trusts
Financial Assets
Securities purchased under agreements to resell	36,266	38,487
Financial Liabilities
Debt, net	252	205
GAAP Carrying Amount
Financial Assets
Cash and Cash Equivalents	11,171	23,889
Securities purchased under agreements to resell	113,697	105,003
Investments in Securities [Abstract]
Debt Securities, Available-for-sale	4,567	15,367
Trading, at fair value	54,991	44,458
Total investments in securities	59,558	59,825
Mortgage Loans [Abstract]
Mortgage loans	2,608,223	2,383,888
Derivative assets, net	756	1,205
Guarantee assets, at fair value	5,869	5,509
Non Derivative Purchase Commitments Assets	141	158
Advances to lenders	5,045	4,162
Secured Lending and Other	1,593	1,680
Total assets carried at fair value on a recurring basis	2,806,053	2,585,319
Financial Liabilities
Debt, net	2,802,755	2,592,546
Derivative liabilities, net	507	954
Guarantee obligation	5,422	5,050
Non-derivative held-for-sale purchase commitments, at fair value	12	20
Total Financial Liabilities	2,808,696	2,598,570
GAAP Carrying Amount | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	64,756	110,541
Financial Liabilities
Debt, net	227,102	284,370
GAAP Carrying Amount | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	2,543,467	2,273,347
Financial Liabilities
Debt, net	2,575,653	2,308,176
GAAP Carrying Amount | AmortizedCost
Mortgage Loans [Abstract]
Mortgage loans	2,600,000	2,400,000
Financial Liabilities
Debt, net	2,800,000	2,600,000
GAAP Carrying Amount | Lower Of Cost Or Fair Value
Mortgage Loans [Abstract]
Mortgage loans	10,700	19,500
GAAP Carrying Amount | FV - NI
Mortgage Loans [Abstract]
Mortgage loans	6,800	14,200
Financial Liabilities
Debt, net	2,100	2,600
Fair Value
Financial Assets
Cash and Cash Equivalents	11,171	23,889
Securities purchased under agreements to resell	113,697	105,003
Counterparty netting	(4,620)	0
Investments in Securities [Abstract]
Debt Securities, Available-for-sale	4,567	15,367
Trading, at fair value	54,991	44,458
Total investments in securities	59,558	59,825
Mortgage Loans [Abstract]
Mortgage loans	2,653,250	2,456,491
Derivative assets, net	756	1,205
Netting adjustments	(5,968)	(7,374)
Guarantee assets, at fair value	5,873	5,515
Non Derivative Purchase Commitments Assets	226	246
Advances to lenders	5,045	4,162
Secured Lending and Other	1,447	1,516
Total Asset Netting Adjustment	(10,588)	(7,374)
Total assets carried at fair value on a recurring basis	2,851,023	2,657,852
Financial Liabilities
Debt, net	2,841,349	2,673,731
Counterparty netting	(4,620)	0
Derivative liabilities, net	507	954
Netting Adjustment	(7,564)	(8,194)
Guarantee obligation	6,232	5,378
Non-derivative held-for-sale purchase commitments, at fair value	53	144
Total Liability Netting Adjustment	(12,184)	(8,194)
Total Financial Liabilities	2,848,141	2,680,207
Fair Value | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	67,147	113,495
Financial Liabilities
Debt, net	232,911	290,722
Fair Value | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	2,586,103	2,342,996
Financial Liabilities
Debt, net	2,608,438	2,383,009
Fair Value | Level 1
Financial Assets
Cash and Cash Equivalents	11,171	23,889
Securities purchased under agreements to resell	0	0
Investments in Securities [Abstract]
Debt Securities, Available-for-sale	0	0
Trading, at fair value	32,269	26,255
Total investments in securities	32,269	26,255
Mortgage Loans [Abstract]
Mortgage loans	0	0
Derivative assets at fair value	17	0
Guarantee assets, at fair value	0	0
Non Derivative Purchase Commitments Assets	0	0
Advances to lenders	0	0
Secured Lending and Other	0	0
Total assets carried at fair value on a recurring basis	43,457	50,144
Financial Liabilities
Debt, net	0	0
Derivative liabilities at fair value	0	0
Guarantee obligation	0	0
Non-derivative held-for-sale purchase commitments, at fair value	0	0
Total Financial Liabilities	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 1 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	0	0
Financial Liabilities
Debt, net	0	0
Fair Value | Level 2
Financial Assets
Cash and Cash Equivalents	0	0
Securities purchased under agreements to resell	118,317	105,003
Investments in Securities [Abstract]
Debt Securities, Available-for-sale	3,093	13,779
Trading, at fair value	19,199	14,944
Total investments in securities	22,292	28,723
Mortgage Loans [Abstract]
Mortgage loans	2,388,137	2,157,604
Derivative assets at fair value	6,682	8,516
Guarantee assets, at fair value	0	0
Non Derivative Purchase Commitments Assets	226	246
Advances to lenders	0	0
Secured Lending and Other	1,391	1,427
Total assets carried at fair value on a recurring basis	2,537,045	2,301,519
Financial Liabilities
Debt, net	2,841,208	2,668,791
Derivative liabilities at fair value	8,048	9,132
Guarantee obligation	0	0
Non-derivative held-for-sale purchase commitments, at fair value	0	1
Total Financial Liabilities	2,849,256	2,677,924
Fair Value | Level 2 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	36,783	76,917
Financial Liabilities
Debt, net	233,566	286,634
Fair Value | Level 2 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	2,351,354	2,080,687
Financial Liabilities
Debt, net	2,607,642	2,382,157
Fair Value | Level 3
Financial Assets
Cash and Cash Equivalents	0	0
Securities purchased under agreements to resell	0	0
Investments in Securities [Abstract]
Debt Securities, Available-for-sale	1,474	1,588
Trading, at fair value	3,523	3,259
Total investments in securities	4,997	4,847
Mortgage Loans [Abstract]
Mortgage loans	265,113	298,887
Derivative assets at fair value	25	63
Guarantee assets, at fair value	5,873	5,515
Non Derivative Purchase Commitments Assets	0	0
Advances to lenders	5,045	4,162
Secured Lending and Other	56	89
Total assets carried at fair value on a recurring basis	281,109	313,563
Financial Liabilities
Debt, net	4,761	4,940
Derivative liabilities at fair value	23	16
Guarantee obligation	6,232	5,378
Non-derivative held-for-sale purchase commitments, at fair value	53	143
Total Financial Liabilities	11,069	10,477
Fair Value | Level 3 | Held by Freddie Mac
Mortgage Loans [Abstract]
Mortgage loans	30,364	36,578
Financial Liabilities
Debt, net	3,965	4,088
Fair Value | Level 3 | Held by consolidated trusts
Mortgage Loans [Abstract]
Mortgage loans	234,749	262,309
Financial Liabilities
Debt, net	$ 796	$ 852

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	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Option, Quantitative Disclosures [Line Items]
Loans Held For Sale, Fair Value	$ 6,811	$ 14,199
Loans Held For Sale, Unpaid Principal Balance, With Fair Value Option Elected	6,424	13,400
Fair Value, Option, Aggregate Differences, Loans and Long-term Receivables	387	799
Non Derivative HFS Purchase Commitment net	141	157
Held by Freddie Mac
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	1,668	2,216
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	1,637	2,189
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	31	27
Held by consolidated trusts
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	172	203
Long-Term Debt, Unpaid Principal Balance, with Fair Value Option Elected	169	200
Fair Value, Option, Aggregate Differences, Long-term Debt Instruments	3	3
Interest-Only
Fair Value, Option, Quantitative Disclosures [Line Items]
Long-Term Debt, Fair Value	$ 233	$ 173

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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Loans Receivable
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 221	$ 313	$ (230)	$ 951
HFS loan purchase commitments
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	342	650	537	1,182
Long-term Debt | Held by Freddie Mac
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	22	(70)	30	478
Long-term Debt | Held by consolidated trusts
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Option, Changes in Fair Value, Gain (Loss)	$ 13	$ 0	$ 9	$ 4

Legal Contingencies (Details)

Legal Contingencies (Details) $ in Millions	Mar. 14, 2013loan	Jun. 30, 2021loan	Sep. 20, 2013USD ($)
LIBOR Lawsuit
Loss Contingencies [Line Items]
Number of defendants	16
Senior Preferred Stock Purchase Agreement Class Action Litigations
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number		3
Arrowood lawsuit | Arrowood Indemnity Company
Loss Contingencies [Line Items]
Preferred stock | $			$ 42

Regulatory Capital Regulatory C

Regulatory Capital Regulatory Capital - Net Worth and Minimum Capital (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Net Worth and Minimum Capital [Abstract]
GAAP net worth (deficit)	$ 22,402	$ 18,791	$ 16,413	$ 11,442	$ 9,504	$ 9,122
Core capital (deficit)	(50,432)		(56,878)
Minimum capital requirement	23,549		22,694
Minimum capital surplus (deficit)	$ (73,981)		$ (79,572)