v3.25.2
Mortgage Loans
 6 Months Ended
Jun. 30, 2025
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 3.1 - Mortgage Loans
June 30, 2025 December 31, 2024
(In millions)Single-FamilyMultifamily TotalSingle-FamilyMultifamily Total
Held-for-sale UPB$2,158 $4,516 $6,674 $2,984 $13,265 $16,249 
Cost basis and fair value adjustments, net(424)50 (374)(586)(103)(689)
Total held-for-sale loans, net1,734 4,566 6,300 2,398 13,162 15,560 
Held-for-investment UPB3,086,962 100,115 3,187,077 3,063,211 87,416 3,150,627 
Cost basis and fair value adjustments, net(1)
28,011 (385)27,626 28,926 (450)28,476 
Allowance for credit losses(7,236)(493)(7,729)(6,381)(393)(6,774)
   Total held-for-investment loans, net(2)
3,107,737 99,237 3,206,974 3,085,756 86,573 3,172,329 
Total mortgage loans, net$3,109,471 $103,803 $3,213,274 $3,088,154 $99,735 $3,187,889 
(1)Includes ($0.3) billion and ($0.7) billion of basis adjustments maintained on a closed portfolio basis related to existing portfolio layer method fair value hedge relationships as of June 30, 2025 and December 31, 2024, respectively.
(2)Includes $4.4 billion and $2.4 billion of multifamily held-for-investment loans for which we have elected the fair value option as of June 30, 2025 and December 31, 2024, respectively.
The table below provides details of the UPB of loans we purchased and sold during the periods presented.
Table 3.2 - Loans Purchased and Sold
(In millions)2Q 20252Q 2024YTD 2025YTD 2024
Single-Family:
Purchases:
  Held-for-investment loans$93,603 $85,239 $171,249 $147,508 
Sales of held-for-sale loans(1)
496 381 1,255 999 
Multifamily:
Purchases:
  Held-for-investment loans8,663 3,791 12,577 6,416 
  Held-for-sale loans2,096 6,581 7,527 13,040 
Sales of held-for-sale loans(2)
8,247 6,462 14,851 13,065 
(1)Our sales of single-family loans reflect the sale of single-family seasoned loans.
(2)Our sales of multifamily loans occur primarily through the issuance of Multifamily K Certificates.
Reclassifications
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 periods presented.
Table 3.3 - Loan Reclassifications(1)
2Q 20252Q 2024
(In millions)UPBAllowance for Credit Losses Reversed or (Established)Valuation Allowance (Established) or ReversedUPBAllowance for Credit Losses Reversed or (Established)Valuation Allowance (Established) or Reversed
Single-Family reclassifications from:
Held-for-investment to held-for-sale$276 $1 $— $691 $7 $— 
Held-for-sale to held-for-investment(2)
82 7 6 43 4 5 
Multifamily reclassifications from:
Held-for-investment to held-for-sale290 1 (3)577 10 (39)
   Held-for-sale to held-for-investment(2)
16 — — 378 — 6 
YTD 2025YTD 2024
(In millions)UPBAllowance for Credit Losses Reversed or (Established)Valuation Allowance (Established) or ReversedUPBAllowance for Credit Losses Reversed or (Established)Valuation Allowance (Established) or Reversed
Single-Family reclassifications from:
Held-for-investment to held-for-sale$965 $8 $— $1,067 $15 $— 
Held-for-sale to held-for-investment(2)
340 28 19 93 8 9 
Multifamily reclassifications from:
Held-for-investment to held-for-sale817 2 (30)841 11 (44)
   Held-for-sale to held-for-investment(2)
206 (1)5 747 — 9 
(1)Amounts exclude reclassifications related to loans for which we have elected the fair value option.
(2)Allowance for credit losses established upon loan reclassifications from held-for-sale to held-for-investment to reflect the net amount we expect to collect on the loan. Loans with prior charge-offs may have a negative allowance for credit losses established upon reclassification.
Interest Income
The table below presents 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 3.4 - Amortized Cost Basis of Held-for-Investment Loans on Non-Accrual(1)
Non-Accrual Amortized Cost Basis
Interest Income Recognized(2)
(In millions)June 30, 2025March 31, 20252Q 2025YTD 2025
Single-Family:
20- and 30-year or more, amortizing fixed-rate$15,376 $15,724 $43 $107 
15-year or less, amortizing fixed-rate480 487 1 2 
Adjustable-rate and other242 256 1 2 
Total Single-Family16,098 16,467 45 111 
Total Multifamily179 207 — 1 
Total Single-Family and Multifamily$16,277 $16,674 $45 $112 
Non-Accrual Amortized Cost Basis
Interest Income Recognized(2)
(In millions)June 30, 2024March 31, 20242Q 2024YTD 2024
Single-Family:
20- and 30-year or more, amortizing fixed-rate$11,773 $12,189 $32 $88 
15-year or less, amortizing fixed-rate439 485 1 2 
Adjustable-rate and other230 247 1 2 
Total Single-Family12,442 12,921 34 92 
Total Multifamily110 103 — 1 
Total Single-Family and Multifamily$12,552 $13,024 $34 $93 
(1)Excludes amounts related to loans for which we have elected the fair value option.
(2)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 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 was charged off.
Table 3.5 - Accrued Interest Receivable and Related Charge-Offs
Accrued Interest ReceivableAccrued Interest Receivable Related Charge-Offs
(In millions)June 30, 2025December 31, 20242Q 20252Q 2024YTD 2025YTD 2024
Single-Family loans$10,154 $9,776 ($60)($46)($124)($92)
Multifamily loans431 431 — — (3)(1)
Credit Quality
Single-Family
The current LTV ratio is one key factor we consider when estimating our allowance for credit losses for single-family loans. As current LTV ratios increase, the borrower's equity in the home decreases, which may negatively affect the borrower's ability to refinance or to sell the property for an amount at or above the balance of the outstanding loan.
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.
Table 3.6 - Amortized Cost Basis of Single-Family Held-for-Investment Loans by Current LTV Ratio and Vintage
June 30, 2025
Year of Origination Total
(In millions)20252024202320222021Prior
Current LTV ratio:
  20- and 30-year or more, amortizing fixed-rate
≤ 60$17,792 $50,330 $41,115 $110,228 $559,603 $973,171 $1,752,239 
> 60 to 8043,581 120,285 101,625 173,411 204,081 50,076 693,059 
> 80 to 90
26,615 68,035 60,013 51,254 11,043 1,211 218,171 
> 90 to 100 36,114 69,364 20,832 11,832 1,375 259 139,776 
> 100
147 1,508 1,384 1,417 113 84 4,653 
  Total 20- and 30-year or more, amortizing fixed-rate
124,249 309,522 224,969 348,142 776,215 1,024,801 2,807,898 
  Current-year gross charge-offs(1)
— 6 16 35 31 139 227 
  15-year or less, amortizing fixed-rate
≤ 603,619 6,201 4,156 20,655 103,125 124,416 262,172 
> 60 to 803,467 5,150 2,483 2,825 556 35 14,516 
> 80 to 90
953 926 215 85 5 — 2,184 
> 90 to 100465 255 17 9 — — 746 
> 100
4 2 1 — — — 7 
  Total 15-year or less, amortizing fixed-rate8,508 12,534 6,872 23,574 103,686 124,451 279,625 
  Current-year gross charge-offs(1)
— — — — 1 1 2 
  Adjustable-rate and other
≤ 60545 385 424 1,745 3,239 11,416 17,754 
> 60 to 801,199 1,006 1,236 2,319 569 174 6,503 
> 80 to 90
582 530 682 665 21 11 2,491 
> 90 to 100358 277 174 148 3 4 964 
> 100
— 1 12 19 — 2 34 
  Total adjustable-rate and other2,684 2,199 2,528 4,896 3,832 11,607 27,746 
  Current-year gross charge-offs(1)
— — — — — 1 1 
Total for all loan product types by current LTV ratio:
≤ 60
21,956 56,916 45,695 132,628 665,967 1,109,003 2,032,165 
> 60 to 8048,247 126,441 105,344 178,555 205,206 50,285 714,078 
> 80 to 90
28,150 69,491 60,910 52,004 11,069 1,222 222,846 
> 90 to 10036,937 69,896 21,023 11,989 1,378 263 141,486 
> 100
151 1,511 1,397 1,436 113 86 4,694 
Total Single-Family loans$135,441 $324,255 $234,369 $376,612 $883,733 $1,160,859 $3,115,269 
Total current-year gross charge-offs(1)
$— $6 $16 $35 $32 $141 $230 
December 31, 2024
Year of Origination Total
(In millions)20242023202220212020Prior
Current LTV ratio:
  20- and 30-year or more, amortizing fixed-rate
≤ 60$47,642 $42,978 $109,174 $566,114 $544,209 $465,059 $1,775,176 
> 60 to 80125,634 106,407 182,774 225,774 48,905 9,859 699,353 
> 80 to 9052,612 69,714 61,282 10,650 813 311 195,382 
> 90 to 100
70,104 20,274 8,820 949 124 74 100,345 
> 100
168 435 777 59 19 56 1,514 
  Total 20- and 30-year or more, amortizing fixed-rate
296,160 239,808 362,827 803,546 594,070 475,359 2,771,770 
  Full-year gross charge-offs(1)
1 10 40 45 35 222 353 
  15-year or less, amortizing fixed-rate
≤ 605,664 4,353 21,308 110,094 85,662 52,305 279,386 
> 60 to 805,326 3,012 3,986 927 44 7 13,302 
> 80 to 90856 338 103 7 — — 1,304 
> 90 to 100
377 19 10 — — — 406 
> 100
2 — — — — — 2 
  Total 15-year or less, amortizing fixed-rate12,225 7,722 25,407 111,028 85,706 52,312 294,400 
  Full-year gross charge-offs(1)
— — 1 1 1 2 5 
  Adjustable-rate and other
≤ 60384 438 1,793 3,355 1,338 11,123 18,431 
> 60 to 801,065 1,309 2,457 661 49 139 5,680 
> 80 to 90466 766 767 17 1 12 2,029 
> 90 to 100
241 150 112 2 — 3 508 
> 100
— 2 11 — — 1 14 
  Total adjustable-rate and other2,156 2,665 5,140 4,035 1,388 11,278 26,662 
  Full-year gross charge-offs(1)
— — — 1 — 1 2 
Total for all loan product types by current LTV ratio:
≤ 6053,690 47,769 132,275 679,563 631,209 528,487 2,072,993 
> 60 to 80132,025 110,728 189,217 227,362 48,998 10,005 718,335 
> 80 to 9053,934 70,818 62,152 10,674 814 323 198,715 
> 90 to 100
70,722 20,443 8,942 951 124 77 101,259 
> 100
170 437 788 59 19 57 1,530 
Total Single-Family loans $310,541 $250,195 $393,374 $918,609 $681,164 $538,949 $3,092,832 
Total full-year gross charge-offs(1)
$1 $10 $41 $47 $36 $225 $360 
Excludes charge-offs related to accrued interest receivable and advances of pre-foreclosure costs.
Multifamily
The table below presents the amortized cost basis of our multifamily held-for-investment loans, for which we have not elected the fair value option, 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 borrower's current financial strength and debt service capacity;
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 3.7 - Amortized Cost Basis of Multifamily Held-for-Investment Loans by Credit Quality Indicator and Vintage
June 30, 2025
Year of OriginationTotal
(In millions) 20252024202320222021PriorRevolving Loans
Category:
Pass
$10,735 $28,867 $13,802 $16,010 $7,141 $13,876 $2,367 $92,798 
Special mention
— 50 104 220 127 484 — 985 
Substandard
— — 221 613 312 377 — 1,523 
Doubtful
— — — — — — — — 
Total $10,735 $28,917 $14,127 $16,843 $7,580 $14,737 $2,367 $95,306 
December 31, 2024


Year of OriginationTotal
(In millions) 20242023202220212020PriorRevolving Loans
Category:
Pass
$27,713 $14,471 $16,548 $7,179 $6,201 $7,921 $2,426 $82,459 
Special mention
50 76 239 39 86 327 — 817 
Substandard
— 29 444 329 200 276 — 1,278 
Doubtful
— — — — — — — — 
Total $27,763 $14,576 $17,231 $7,547 $6,487 $8,524 $2,426 $84,554 
Past Due Status
The table below presents the amortized cost basis of our single-family and multifamily held-for-investment loans, for which we have not elected the fair value option, by payment status.
Table 3.8 - Amortized Cost Basis of Held-for-Investment Loans by Payment Status(1)
June 30, 2025
(In millions)Current
One
Month
Past Due
Two
Months
Past Due
Three Months or
More Past Due,
or in Foreclosure(2)
Total
Non-Accrual With No Allowance(3)
Single-Family:
20- and 30-year or more, amortizing fixed-rate$2,760,983 $25,705 $6,316 $14,894 $2,807,898 $558 
15-year or less, amortizing fixed-rate277,555 1,359 248 463 279,625 5 
Adjustable-rate and other27,145 280 86 235 27,746 36 
Total Single-Family3,065,683 27,344 6,650 15,592 3,115,269 599 
Total Multifamily95,118 9 — 179 95,306 122 
Total Single-Family and Multifamily$3,160,801 $27,353 $6,650 $15,771 $3,210,575 $721 
December 31, 2024
(In millions)CurrentOne
Month
Past Due		Two
Months
Past Due
Three Months or
More Past Due,
or in Foreclosure(2)
Total
Non-Accrual with No Allowance(3)
Single-Family:
20- and 30-year or more, amortizing fixed-rate$2,722,336 $27,090 $7,588 $14,756 $2,771,770 $465 
15-year or less, amortizing fixed-rate292,207 1,404 291 498 294,400 5 
Adjustable-rate and other26,019 309 101 233 26,662 33 
Total Single-Family3,040,562 28,803 7,980 15,487 3,092,832 503 
Total Multifamily84,288 60 80 126 84,554 75 
Total Single-Family and Multifamily$3,124,850 $28,863 $8,060 $15,613 $3,177,386 $578 
(1)There were no held-for-investment loans that were three months or more past due and accruing interest as of both June 30, 2025 and December 31, 2024.
(2)Includes $3.3 billion and $2.6 billion of single-family loans that were in the process of foreclosure as of June 30, 2025 and December 31, 2024, respectively.
(3)Loans with no allowance for loan losses primarily represent loans that were previously charged off and for which the amount we expect to collect 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 advances of pre-foreclosure costs when determining whether a loan has an allowance for credit losses.
Loan Restructurings
Single-Family Loan Restructurings
We offer several types of restructurings to single-family borrowers that may result in a payment delay, interest rate reduction, term extension, or combination thereof. We do not offer principal forgiveness.
For purposes of the disclosure related to single-family loan restructurings involving borrowers experiencing financial difficulty, we exclude loans that were held-for-sale either at the time of restructuring or at the period end. The table below presents the period-end amortized cost basis of single-family held-for-investment loan restructurings involving borrowers experiencing financial difficulty that we entered into during the periods presented.
Table 3.9 - Single-Family Loan Restructurings Involving Borrowers Experiencing Financial Difficulty(1)
2Q 2025
(Dollars in millions)
Payment Delay(2)
Payment Delay and Term ExtensionPayment Delay, Term Extension, and Interest Rate ReductionTotal
Total as % of Class of Financing Receivable(3)
Single-Family:
20- and 30-year or more, amortizing fixed-rate$5,515 $2,358 $264 $8,137 0.3 %
15-year or less, amortizing fixed-rate177 1 — 178 0.1 
Adjustable-rate and other49 6 1 56 0.2 
Total Single-Family loan restructurings$5,741 $2,365 $265 $8,371 0.3 
2Q 2024
(Dollars in millions)
Payment Delay(2)
Payment Delay and Term ExtensionPayment Delay, Term Extension, and Interest Rate ReductionTotal
Total as % of Class of Financing Receivable(3)
Single-Family:
20- and 30-year or more, amortizing fixed-rate$4,824 $1,580 $13 $6,417 0.2 %
15-year or less, amortizing fixed-rate192 — — 192 0.1 
Adjustable-rate and other49 3 — 52 0.2 
Total Single-Family loan restructurings$5,065 $1,583 $13 $6,661 0.2 
YTD 2025
(Dollars in millions)
Payment Delay(2)
Payment Delay and Term ExtensionPayment Delay, Term Extension, and Interest Rate ReductionTotal
Total as % of Class of Financing Receivable(3)
Single-Family:
20- and 30-year or more, amortizing fixed-rate$11,545 $3,969 $384 $15,898 0.6 %
15-year or less, amortizing fixed-rate390 1 — 391 0.1 
Adjustable-rate and other100 9 2 111 0.4 
Total Single-Family loan restructurings$12,035 $3,979 $386 $16,400 0.5 
YTD 2024
(Dollars in millions)
Payment Delay(2)
Payment Delay and Term ExtensionPayment Delay, Term Extension, and Interest Rate ReductionTotal
Total as % of Class of Financing Receivable(3)
Single-Family:
20- and 30-year or more, amortizing fixed-rate$9,447 $2,835 $19 $12,301 0.5 %
15-year or less, amortizing fixed-rate378 — — 378 0.1 
Adjustable-rate and other95 6 1 102 0.4 
Total Single-Family loan restructurings$9,920 $2,841 $20 $12,781 0.4 
(1)     Type of loan restructurings reflects the cumulative effects of the loan restructurings received during the period. Includes loan modifications in the period in which the borrower completes the trial period and the loan is permanently modified. The amortized cost basis of loans in the trial period modification plans was $3.2 billion and $2.0 billion as of June 30, 2025 and June 30, 2024, respectively. Most of these loans are 20- and 30-year or more, amortizing fixed-rate loans.
(2)    Includes $2.2 billion and $4.9 billion related to payment deferral plans for 2Q 2025 and YTD 2025, respectively, compared to $2.1 billion and $4.6 billion for 2Q 2024 and YTD 2024, respectively. Also includes forbearance plans, repayment plans, and loan modifications that only involve payment delays.
(3)    Based on the amortized cost basis as of period end, divided by the total period-end amortized cost basis of the corresponding financing receivable class of single-family held-for-investment loans.
The table below shows the financial effect of single-family held-for-investment loan restructurings involving borrowers experiencing financial difficulty that we entered into during the periods presented.
Table 3.10 – Financial Effects of Single-Family Loan Restructurings Involving Borrowers Experiencing Financial Difficulty(1)
2Q 2025
(Dollars in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Months of Term Extension
Weighted-Average Payment Deferral or Principal Forbearance(2)
Single-Family:
20- and 30-year or more, amortizing fixed-rate0.6 %147$26 
15-year or less, amortizing fixed-rate— 4511 
Adjustable-rate and other1.0 14216 
2Q 2024
(Dollars in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Months of Term Extension
Weighted-Average Payment Deferral or Principal Forbearance(2)
Single-Family:
20- and 30-year or more, amortizing fixed-rate0.5 %168$17 
15-year or less, amortizing fixed-rate— 2313 
Adjustable-rate and other0.8 22313 
YTD 2025
(Dollars in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Months of Term Extension
Weighted-Average Payment Deferral or Principal Forbearance(2)
Single-Family:
20- and 30-year or more, amortizing fixed-rate0.6 %154$21 
15-year or less, amortizing fixed-rate— 4410 
Adjustable-rate and other0.9 16913 
YTD 2024
(Dollars in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Months of Term Extension
Weighted-Average Payment Deferral or Principal Forbearance(2)
Single-Family:
20- and 30-year or more, amortizing fixed-rate0.7 %169$16 
15-year or less, amortizing fixed-rate— 2313 
Adjustable-rate and other0.9 21714 
(1)     Averages are based on payment deferral plans and loan modifications completed during the periods presented. The financial effects of forbearance plans and repayment plans consist of a payment delay of between one and twelve months. In addition, the financial effect of a forbearance plan is included at the time the forbearance plan is completed if the borrower exits forbearance by entering into a payment deferral plan or loan modification.
(2)     Primarily related to payment deferral plans. Amounts are based on non-interest-bearing principal balances on the restructured loans.
The table below provides the amortized cost basis of single-family held-for-investment loans that had a payment default (i.e., loans that became two months delinquent) during the periods presented and had been restructured within the previous 12 months preceding the payment default, when the borrower was experiencing financial difficulty at the time of the restructuring.
Table 3.11 - Subsequent Defaults of Single-Family Restructured Loans Involving Borrowers Experiencing Financial Difficulty(1)
2Q 2025
(In millions)
Payment Delay
Payment Delay and Term ExtensionPayment Delay, Term Extension, and Interest Rate ReductionTotal
Single-Family:
20- and 30-year or more, amortizing fixed-rate$993 $635 $24 $1,652 
15-year or less, amortizing fixed-rate30 — — 30 
Adjustable-rate and other8 1 — 9 
Total Single-Family$1,031 $636 $24 $1,691 
2Q 2024
(In millions)
Payment Delay
Payment Delay and Term ExtensionPayment Delay, Term Extension, and Interest Rate ReductionTotal
Single-Family:
20- and 30-year or more, amortizing fixed-rate$952 $398 $3 $1,353 
15-year or less, amortizing fixed-rate34 — — 34 
Adjustable-rate and other8 1 — 9 
Total Single-Family$994 $399 $3 $1,396 
YTD 2025
(In millions)
Payment Delay
Payment Delay and Term ExtensionPayment Delay, Term Extension, and Interest Rate ReductionTotal
Single-Family:
20- and 30-year or more, amortizing fixed-rate$1,816 $1,148 $32 $2,996 
15-year or less, amortizing fixed-rate60 — — 60 
Adjustable-rate and other16 2 — 18 
Total Single-Family$1,892 $1,150 $32 $3,074 
YTD 2024
(In millions)
Payment Delay
Payment Delay and Term ExtensionPayment Delay, Term Extension, and Interest Rate ReductionTotal
Single-Family:
20- and 30-year or more, amortizing fixed-rate$1,620 $725 $8 $2,353 
15-year or less, amortizing fixed-rate55 — — 55 
Adjustable-rate and other16 1 — 17 
Total Single-Family$1,691 $726 $8 $2,425 
(1)    Excludes forbearance plans and repayment plans as borrowers are typically past due based on the loan's original contractual terms at the time the borrowers enter into these plans.
The table below provides the single-family held-for-investment loan performance in the 12 months after a restructuring involving borrowers experiencing financial difficulty. While a single-family loan is in a forbearance plan or repayment plan, payments continue to be due based on the loan’s original contractual terms because the loan has not been permanently modified. As a result, we report single-family loans in forbearance plans and repayment plans as delinquent to the extent that payments are past due based on the loan’s original contractual terms. Loans that have been restructured by entering into a payment deferral plan or loan modification are reported as delinquent to the extent that payments are past due based on the loan's restructured terms.
Table 3.12 - Amortized Cost Basis of Single-Family Restructured Loans Involving Borrowers Experiencing Financial Difficulty by Payment Status
June 30, 2025
(In millions)CurrentOne Month Past DueTwo Months Past DueThree Months or More Past DueTotal
Single-Family:
20- and 30-year or more, amortizing fixed-rate$13,871 $3,371 $1,828 $6,840 $25,910 
15-year or less, amortizing fixed-rate353 86 54 191 684 
Adjustable-rate and other79 20 16 71 186 
Total Single-Family$14,303 $3,477 $1,898 $7,102 $26,780 
June 30, 2024
(In millions)CurrentOne Month Past DueTwo Months Past DueThree Months or More Past DueTotal
Single-Family:
20- and 30-year or more, amortizing fixed-rate$11,169 $3,009 $1,537 $4,926 $20,641 
15-year or less, amortizing fixed-rate352 94 54 169 669 
Adjustable-rate and other94 20 13 51 178 
Total Single-Family$11,615 $3,123 $1,604 $5,146 $21,488 
Non-Cash Investing and Financing Activities
During YTD 2025 and YTD 2024, we acquired $122.4 billion and $96.8 billion, respectively, of loans held-for-investment in exchange for the issuance of debt of consolidated trusts in guarantor swap transactions. We received approximately $62.3 billion and $45.3 billion of loans held-for-investment from sellers during YTD 2025 and YTD 2024, respectively, to satisfy advances to lenders that were recorded in other assets on our condensed consolidated balance sheets.