v3.25.3
Allowance for Credit Losses
 9 Months Ended
Sep. 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
3Q 20253Q 2024YTD 2025YTD 2024
 (In millions) Single-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotal
Beginning balance$7,516 $757 $8,273 $6,760 $587 $7,347 $6,691 $548 $7,239 $6,402 $447 $6,849 
Provision (benefit) for credit losses118 57 175 (99)(92)(191)968 270 1,238 336 48 384 
Charge-offs(118)(111)(229)(75)— (75)(405)(116)(521)(367)— (367)
Recoveries collected38 — 38 39 — 39 88 1 89 89 — 89 
Other(1)
110 — 110 72 — 72 322 — 322 237 — 237 
Ending balance$7,664 $703 $8,367 $6,697 $495 $7,192 $7,664 $703 $8,367 $6,697 $495 $7,192 
Components of the ending balance of the allowance for credit losses:
Mortgage loans held-for-investment$7,383 $507 $7,890 $6,392 $345 $6,737 
Other(2)
281 196 477 305 150 455 
Total ending balance$7,664 $703 $8,367 $6,697 $495 $7,192 
(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    3Q 2025 vs. 3Q 2024 - The provision for credit losses for 3Q 2025 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions. The benefit for credit losses for 3Q 2024 was driven by a credit reserve release in Single-Family as a result of lower mortgage interest rates and a credit reserve release in Multifamily due to enhancements in the credit loss estimation process.
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 new acquisitions, changes in estimated market values of single-family properties based on our internal house price index, and changes in 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.