Mortgage Loans Held-for-Portfolio

The FHLBNY classifies mortgage loans as held for investment, and accordingly reports them at their principal amount outstanding

net of unamortized premiums, discounts, and unrealized gains and losses from loans initially classified as mortgage loan

Mortgage loans under the MPF program were at a carrying value of $1.4 billion at both June 30, 2026 and December 31, 2025.

Mortgage loans under the MAP program were at a carrying value of $1.4 billion at June 30, 2026, compared to $1.2 billion at

The following table presents information on mortgage loans held-for-portfolio (dollars in thousands):


	June 30, 2026			December 31, 2025
	Carrying Amount	Percentage of Total		Carrying Amount	Percentage of Total
Real Estate(a):
Fixed medium-term single-family mortgages	$89,920	3.32	%	$97,276	3.74	%
Fixed long-term single-family mortgages	2,622,310	96.68		2,501,881	96.26
Total unpaid principal balance	$2,712,230	100.00	%	$2,599,157	100.00	%

Unamortized premiums	54,746			50,092
Unamortized discounts	(598)			(611)
Basis adjustment (b)	(761)			(498)
Total mortgage loans amortized cost	$2,765,617			$2,648,140
Allowance for credit losses	(4,273)			(3,691)
Total mortgage loans held-for-portfolio at carrying value	$2,761,344			$2,644,449

(a)Conventional mortgage loans represent the majority of mortgage loans held-for-portfolio, with the remainder invested in FHA

and VA insured loans (also referred to as government loans).

(b)Balances represent unamortized fair value basis of closed delivery commitments. A basis adjustment is recorded at the

settlement of the loan and it represents the difference in trade price paid for acquiring the loan and the price at the settlement

date for a similar loan. The basis adjustment is amortized as a yield adjustment to Interest income.

The FHLBNY and its members share the credit risk of MPF loans by structuring potential credit losses into layers. The first layer is

typically 100 bps, but this varies with the particular MPF product. The amount of the first layer, or First Loss Account (FLA), was

estimated at $36.9 million at June 30, 2026 and $38.3 million at December 31, 2025. The FLA is not recorded or reported as a

reserve for loan losses, as it serves as a memorandum account. The FHLBNY is responsible for absorbing the first layer. The PFI

then has direct liability to pay credit losses up to a specified amount with the FHLBNY taking the remaining of the credit losses.

The MAP program operates on the simplified credit risk sharing structure. MAP credit risk sharing structure rewards PFIs for

originating high-quality, well-performing loans. At the time of purchase, FHLBNY will set aside a standard credit enhancement of

1.5% for every loan funded, to be retained in a Member Performance Account (MPA) for each PFI. The MPA credit enhancement

may be slightly greater than 1.5% for certain loans based on credit characteristics. Loans are pooled into single or aggregate (multi-

member) Master Commitments. Loan losses over the life of the pool are absorbed in order by borrower’s equity, mortgage insurance

(if applicable), MPA, and finally by FHLBNY. If pooled losses are low, MPA funds are returned to the seller over time, based on a

contractual release schedule. This liability account was $23.6 million at June 30, 2026 and $19.8 million at December 31, 2025.

Allowance for Credit Losses

The following table presents the allowance for credit losses and the unpaid principal balances (dollars in thousands):


	June 30, 2026	December 31, 2025
Allowance for credit losses on mortgage loans held for portfolio	$4,273	$3,691
Mortgage loans held for portfolio (a)	$2,712,230	$2,599,157

(a)Balances represent unpaid principal balance.

The FHLBNY’s total mortgage loans and impaired loans were as follows (in thousands):


	June 30, 2026	December 31, 2025
Total mortgage loans, carrying values net (a)	$2,761,344	$2,644,449
Non-performing mortgage loans - Conventional (a)(b)	$8,128	$5,213
Insured mortgage loans past due 90 days or more and still accruing interest (a)(b)	$3,457	$3,504

(a)Includes loans classified as special mention, sub-standard, doubtful or loss under regulatory criteria, net of amounts charged-off

if delinquent for 180 days or more.

(b)Data in this table represents unpaid principal balance and would not agree to data reported in other tables at “amortized cost.”

The following table summarizes mortgage loans held-for-portfolio by collateral/guarantee type (in thousands):


	June 30, 2026	December 31, 2025
Mortgage Loans Held for Portfolio by Collateral/Guarantee Type :
Conventional mortgage loans	$2,609,239	$2,490,408
Government-guaranteed or - insured mortgage loans	102,991	108,749
Total mortgage loans - unpaid principal balance	$2,712,230	$2,599,157

Payment Status of Mortgage Loans

Amounts past due 30 days or more on conventional mortgage loans at June 30, 2026 and December 31, 2025 totaled $22.1 million

and $27.5 million, respectively, and are based on amortized cost, which excludes accrued interest receivable.