Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table provides a summary of our assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2016 and 2015 (in millions):

	December 31, 2016						December 31, 2015
	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3
Assets:
Agency securities	$	—	$	45,393	$	—	$	—	$	51,331	$	—
Agency securities transferred to consolidated VIEs	—		818		—		—		1,029		—
Non-Agency securities	—		124		—		—		113		—
Credit risk transfer securities	—		164		—		—		—		—
U.S. Treasury securities	182		—		—		25		—		—
Interest rate swaps	—		321		—		—		31		—
Swaptions	—		22		—		—		17		—
TBA securities	—		4		—		—		29		—
U.S. Treasury futures	8		—		—		4		—		—
REIT equity securities	—		—		—		33		—		—
Total	$	190	$	46,846	$	—	$	62	$	52,550	$	—
Liabilities:
Debt of consolidated VIEs	$	—	$	460	$	—	$	—	$	595	$	—
Obligation to return U.S. Treasury securities borrowed under reverse repurchase agreements	7,636		—		—		1,696		—		—
Interest rate swaps	—		105		—		—		920		—
TBA securities	—		151		—		—		15		—
Total	$	7,636	$	716	$	—	$	1,696	$	1,530	$	—