v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Cash $ 11,452 $ 13,477
Restricted cash (includes $22,848 and $16,994, respectively, related to consolidated trusts) 31,131 25,059
Securities purchased under agreements to resell (includes $18,425 and $14,899, respectively, related to consolidated trusts) 45,650 56,250
Investments in securities, at fair value 69,889 79,197
Mortgage loans:    
Loans held for sale, at lower of cost or fair value 209 373
Total loans held for investment 4,127,468 4,145,340
Allowance for loan losses (8,364) (7,707)
Total loans held for investment, net of allowance 4,119,104 4,137,633
Total mortgage loans 4,119,313 4,138,006
Advances to lenders 3,595 1,825
Deferred tax assets, net 9,828 10,545
Accrued interest receivable (includes $11,129 and $10,666, respectively, related to consolidated trusts) 11,689 11,364
Other assets 14,991 14,008
Total assets 4,317,538 4,349,731
Liabilities:    
Accrued interest payable (includes $11,320 and $10,858, respectively, related to consolidated trusts) 12,035 11,585
Other liabilities (includes $1,719 and $1,699, respectively, related to consolidated trusts) 16,062 15,392
Total liabilities 4,208,526 4,255,074
Commitments and contingencies (Note 17) 0 0
Fannie Mae stockholders’ equity:    
Senior preferred stock (liquidation preference of $226,984 and $212,029, respectively) 120,836 120,836
Preferred stock, $700,000,000 shares are authorized—$555,374,922 shares issued and outstanding 19,130 19,130
Common stock, no par value, no maximum authorization—$1,308,762,703 shares issued and $1,158,087,567 shares outstanding 687 687
Accumulated deficit (24,261) (38,625)
Accumulated other comprehensive income 20 29
Treasury stock, at cost, $150,675,136 shares (7,400) (7,400)
Total stockholders’ equity 109,012 94,657
Total liabilities and equity 4,317,538 4,349,731
Fannie Mae    
Mortgage loans:    
Total loans held for investment 57,970 50,053
Liabilities:    
Debt 127,289 139,422
Consolidated Trusts    
ASSETS    
Restricted cash (includes $22,848 and $16,994, respectively, related to consolidated trusts) 22,848 16,994
Securities purchased under agreements to resell (includes $18,425 and $14,899, respectively, related to consolidated trusts) 18,425 14,899
Mortgage loans:    
Total loans held for investment 4,069,498 4,095,287
Accrued interest receivable (includes $11,129 and $10,666, respectively, related to consolidated trusts) 11,129 10,666
Liabilities:    
Accrued interest payable (includes $11,320 and $10,858, respectively, related to consolidated trusts) 11,320 10,858
Debt 4,053,140 4,088,675
Other liabilities (includes $1,719 and $1,699, respectively, related to consolidated trusts) $ 1,719 $ 1,699