v3.26.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Statement of Cash Flows [Abstract]    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 1,786 $ 1,872
Operating activities:    
Net income (loss) 506 (90)
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of premiums and discounts on mortgage-backed securities, net 99 69
Stock based compensation 2 4
(Gain) loss on sale of investment securities, net (58) 422
Unrealized (gain) loss on investment securities measured at fair value through net income, net 979 (1,453)
(Gain) loss on derivative instruments and other securities, net (867) 1,386
Increase in other assets (78) (34)
Increase in other liabilities 22 68
Net cash provided by operating activities 605 372
Investing activities:    
Purchases of Agency mortgage-backed securities (34,221) (22,054)
Purchases of credit risk transfer and non-Agency securities and other mortgage credit investments 0 (66)
Proceeds from sale of Agency mortgage-backed securities 20,976 12,322
Proceeds from sale of credit risk transfer and non-Agency securities 15 270
Principal collections on Agency mortgage-backed securities 6,391 3,307
Principal collections on credit risk transfer and non-Agency securities 12 9
Payments on U.S. Treasury securities (34,440) (17,794)
Proceeds from Sale of U.S. Treasury securities 37,302 19,401
Net payments on reverse repurchase agreements (1,497) (3,792)
Net proceeds from (payments on) derivative instruments 777 (774)
Net cash used in investing activities (4,685) (9,171)
Financing activities:    
Proceeds from repurchase arrangements 5,008,725 3,124,816
Payments on repurchase agreements (5,004,203) (3,116,461)
Payments on debt of consolidated variable interest entities (57) (6)
Net proceeds from common stock issuance 568 1,308
Cash dividends paid (909) (757)
Net cash provided by financing activities 4,124 8,900
Net change in cash and cash equivalents 44 101
Cash and cash equivalents at end of period 457 656
Supplemental disclosure to cash flow information:    
Restricted Cash and Cash Equivalent $ 1,329 $ 1,216