v3.26.1
Concentration of Credit and Other Risks
 3 Months Ended
Mar. 31, 2026
Risks and Uncertainties [Abstract]  
Concentration of Credit and Other Risks
Concentration of Credit and Other Risks
Single-Family Mortgage Portfolio
The table below summarizes the concentration by geographic area of our Single-Family mortgage portfolio. See Note 2, Note 3, Note 4, and Note 5 for additional information about credit risk associated with single-family loans that we hold or guarantee.
Table 12.1 - Concentration of Credit Risk of Our Single-Family Mortgage Portfolio
March 31, 2026
(Dollars in millions)
Portfolio UPB(1)
% of PortfolioSDQ Rate
Region:(2)
West$919,994 29 %0.47 %
Northeast729,486 23 0.63 
Southeast565,501 18 0.68 
Southwest479,012 15 0.65 
North Central463,683 15 0.59 
Total$3,157,676 100 %0.60 
State:
California $507,586 16 %0.46 %
Texas 229,802 7 0.74 
Florida 213,829 7 0.81 
New York 138,886 4 0.82 
Illinois 117,944 4 0.71 
All other1,949,629 62 0.56 
Total$3,157,676 100 %0.60 
(1)Excludes UPB of loans underlying certain securitization products for which data was not available.
(2)Region designation: West (AK, AS, AZ, CA, GU, HI, ID, MP, MT, NV, OR, UT, WA); Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); Southeast (AL, FL, GA, KY, MS, NC, PR, SC, TN, U.S. VI); Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI).
Multifamily Mortgage Portfolio
The table below summarizes the concentration by geographic area of our Multifamily mortgage portfolio. See Note 2, Note 3, Note 4, and Note 5 for additional information about credit risk associated with multifamily loans that we hold or guarantee.
Table 12.2 - Concentration of Credit Risk of Our Multifamily Mortgage Portfolio
March 31, 2026
(Dollars in millions)Portfolio UPB% of Portfolio
Delinquency Rate(1)
Region(2)(3):
Northeast$128,093 26 %0.87 %
West115,386 23 0.21 
Southeast105,307 21 0.10 
Southwest96,813 19 0.52 
North Central52,733 11 0.35 
Total$498,332 100 %0.43 
State(3):
California$61,347 12 %0.31
Texas60,929 12 0.48
Florida45,405 9 0.10
New York39,756 8 2.10
Georgia21,746 4 0.06
All other269,149 55 0.28
Total$498,332 100 %0.43
(1)Based on loans two monthly payments or more delinquent or in foreclosure.
(2)Region designation: Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); West (AK, AS, AZ, CA, GU, HI, ID, MP, MT, NV, OR, UT, WA); Southeast (AL, FL, GA, KY, MS, NC, PR, SC, TN, U.S. VI); Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI).
(3)Loans collateralized by properties located in multiple regions or states are reported entirely in the region or state with the largest UPB as of origination.