v3.25.2
Allowance for Credit Losses
 6 Months Ended
Jun. 30, 2025
Credit Loss [Abstract]  
Allowance for Credit Losses
Allowance for Credit Losses
The table below summarizes changes in our allowance for credit losses.
Table 5.1 - Details of the Allowance for Credit Losses
2Q 20252Q 2024YTD 2025YTD 2024
 (In millions) Single-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotal
Beginning balance$6,851 $600 $7,451 $6,508 $508 $7,016 $6,691 $548 $7,239 $6,402 $447 $6,849 
Provision (benefit) for credit losses622 161 783 315 79 394 850 213 1,063 435 140 575 
Charge-offs(96)(4)(100)(169)— (169)(287)(5)(292)(292)— (292)
Recoveries collected23 — 23 24 — 24 50 1 51 50 — 50 
Other(1)
116 — 116 82 — 82 212 — 212 165 — 165 
Ending balance$7,516 $757 $8,273 $6,760 $587 $7,347 $7,516 $757 $8,273 $6,760 $587 $7,347 
Components of the ending balance of the allowance for credit losses:
Mortgage loans held-for-investment$7,236 $493 $7,729 $6,457 $382 $6,839 
Other(2)
280 264 544 303 205 508 
Total ending balance$7,516 $757 $8,273 $6,760 $587 $7,347 
(1)Primarily includes capitalization of past due interest related to non-accrual loans that received payment deferral plans and loan modifications.
(2)Includes allowance for credit losses related to advances of pre-foreclosure costs and off-balance sheet credit exposures.
n    2Q 2025 vs. 2Q 2024 - The provision for credit losses for 2Q 2025 was primarily driven by a credit reserve build in Single-Family attributable to lower estimated market values of single-family properties based on our internal house price index and lower forecasted house price growth rates. The provision for credit losses for 2Q 2024 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions.
n    YTD 2025 vs. YTD 2024 - The provision for credit losses for YTD 2025 was primarily driven by a credit reserve build in Single-Family attributable to lower estimated market values of single-family properties based on our internal house price index and lower forecasted house price growth rates. The provision for credit losses for YTD 2024 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions and increasing mortgage interest rates.