v3.26.3
Allowance for Credit Losses
 9 Months Ended
Sep. 30, 2026
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 20263Q 2025YTD 2026YTD 2025
 (In millions) Single-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotalSingle-FamilyMulti-familyTotal
Beginning balance$6,378 $850 $7,228 $7,516 $757 $8,273 $7,549 $956 $8,505 $6,691 $548 $7,239 
Provision (benefit) for credit losses685 115 800 118 57 175 (472)72 (400)968 270 1,238 
Charge-offs(210)(11)(221)(118)(111)(229)(569)(76)(645)(405)(116)(521)
Recoveries collected78 1 79 38 — 38 203 2 205 88 1 89 
Other(1)
118 — 118 110 — 110 338 1 339 322 — 322 
Ending balance$7,049 $955 $8,004 $7,664 $703 $8,367 $7,049 $955 $8,004 $7,664 $703 $8,367 
Components of the ending balance of the allowance for credit losses:
Mortgage loans held-for-investment$6,814 $568 $7,382 $7,383 $507 $7,890 
Other(2)
235 387 622 281 196 477 
Total ending balance$7,049 $955 $8,004 $7,664 $703 $8,367 
(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 2026 vs. 3Q 2025 - The provision for credit losses for 3Q 2026 was primarily due to a credit reserve build in Single-Family driven by an increase in projected future mortgage interest rates, as well as new acquisitions. The provision for credit losses for 3Q 2025 was primarily driven by a credit reserve build in Single-Family attributable to new acquisitions.
n    YTD 2026 vs. YTD 2025 - The benefit for credit losses for YTD 2026 was primarily due to a credit reserve release in Single-Family driven by updates to our process for generating future house price scenarios, partially offset by new acquisitions. 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.