v3.26.1
Concentration of Credit and Other Risks
 6 Months Ended
Jun. 30, 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
June 30, 2026
(Dollars in millions)
Portfolio UPB(1)
% of PortfolioSDQ Rate
Region:(2)
West$922,030 29 %0.47 %
Northeast732,103 23 0.63 
Southeast569,212 18 0.69 
Southwest481,976 15 0.64 
North Central466,685 15 0.60 
Total$3,172,006 100 %0.60 
State:
California $507,190 16 %0.46 %
Texas 231,131 7 0.72 
Florida 214,660 7 0.83 
New York 139,558 4 0.82 
Illinois 118,733 4 0.72 
All other1,960,734 62 0.57 
Total$3,172,006 100 %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
June 30, 2026
(Dollars in millions)Portfolio UPB% of Portfolio
Delinquency Rate(1)
Region(2)(3):
Northeast$129,249 26 %0.92 %
West116,794 23 0.24 
Southeast107,410 21 0.19 
Southwest97,901 19 0.72 
North Central53,616 11 0.37 
Total$504,970 100 %0.51 
State(3):
California$62,776 12 %0.25
Texas61,184 12 0.74
Florida46,035 9 0.12
New York40,673 8 2.14
Georgia22,200 4 0.19
All other272,102 55 0.37
Total$504,970 100 %0.51
(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.