v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Agency securities, at fair value (including pledged securities of $63,275 and $59,952, respectively) $ 70,363 $ 65,367
Agency securities transferred to consolidated variable interest entities, at fair value (pledged securities) 95 97
Credit risk transfer securities, at fair value (including pledged securities of $595 and $590, respectively) 640 633
Non-Agency securities, at fair value, and other mortgage credit investments (including pledged securities of $173 and $206, respectively) 290 315
U.S. Treasury securities, at fair value (including pledged securities of $3,268 and $1,565, respectively) 3,280 1,575
Cash and cash equivalents 455 505
Restricted cash 1,263 1,266
Derivative assets, at fair value 98 205
Receivable for investment securities sold (including pledged securities of $908 and $0, respectively) 909 0
Receivable under reverse repurchase agreements 17,604 17,137
Goodwill and other intangible assets, net 526 526
Other assets 366 389
Total assets 95,889 88,015
Liabilities:    
Repurchase Agreements 66,138 60,798
Debt of consolidated variable interest entities, at fair value 62 64
Payable for investment securities purchased 1,843 74
Derivative liabilities, at fair value 70 94
Dividends payable 148 143
Other liabilities 406 404
Total liabilities 85,847 78,253
Stockholders' equity:    
Preferred Stock - aggregate liquidation preference of $1,688 1,634 1,634
Common stock - $0.01 par value; 1,500 shares authorized; 949.0 and 897.4 shares issued and outstanding, respectively 9 9
Additional paid-in capital 17,769 17,264
Retained deficit (8,872) (8,554)
Accumulated other comprehensive loss (498) (591)
Total stockholders' equity 10,042 9,762
Total liabilities and stockholders' equity 95,889 88,015
Obligation to Return Securities Borrowed Under Reverse Repurchase Agreements at Fair Value $ 17,180 $ 16,676