Indemnification Assets (Tables)

12 Months Ended

Dec. 31, 2017

Carrying Value Of Recognized Indemnification Assets And Related Receivables/Payables

Indemnification Assets — IndyMac Transaction (dollars in millions)



	Years Ended December 31,
	2017		2016
Loan indemnification⁽¹⁾	$	113.5	$	223.0
Reverse mortgage indemnification⁽²⁾	—		10.4
Agency claims indemnification⁽³⁾	28.9		108.0
Total	$	142.4	$	341.4
Receivable with the FDIC	$	9.2	$	12.7


⁽¹⁾	As of December 31, 2017, the carrying value of the loan indemnification decreased by $109.5 million from December 31, 2016, which comprised of $53.1 million in claim submissions filed with the FDIC during the period and $56.4 million in other (yield and provision for credit losses adjustments).


⁽²⁾	During the year ended December 31, 2017, the reverse mortgage indemnification was impaired by its full value within other non-interest income in connection with the agreement to sell the reverse mortgage portfolio as part of the Financial Freedom Transaction.


⁽³⁾	During the year ended December 31, 2017, the Company and the FDIC resolved the selling and servicing-related obligations of IndyMac for certain reverse mortgage loans with Fannie Mae. In connection with the settlement, the Company released the FDIC from its indemnification obligation to CIT with respect to the Fannie Mae settled loans, which reduced the indemnification receivable by $77 million.

Submission Of Qualifying Losses For Reimbursement From FDIC

The following table summarizes the submission of qualifying losses (net of recoveries) for reimbursement from the FDIC since inception of the loss share agreement as of December 31, 2017 and 2016, respectively:

Submission of Qualifying Losses for Reimbursement (dollars in millions)



	December 31, 2017		December 31, 2016
Unpaid principal balance	$	3,196.5	$	3,832.1
Cumulative losses incurred	3,800.6		3,727.8
Cumulative claims	3,794.7		3,722.9
Cumulative reimbursement	939.9		893.7