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Acquired Property Net
 9 Months Ended
Sep. 30, 2013
Real Estate [Abstract]  
Acquired Property, Net
Acquired Property, Net
Acquired property, net consists of held-for-sale foreclosed property received in satisfaction of a loan, net of a valuation allowance for declines in the fair value of the properties after initial acquisition. We classify properties as held-for-sale when we intend to sell the property and are actively marketing it for sale. The following table displays the activity in acquired property, net of the related valuation allowance, for the three and nine months ended September 30, 2013 and 2012.
 
 
For the Three Months Ended September 30,
 
For the Nine Months
Ended September 30,
 
 
2013
 
2012
 
2013
 
2012
 
 
(Dollars in millions)
Balance as of beginning of period
 
$
10,266

 
$
10,387

 
$
10,489

 
$
11,373

Additions
 
4,422

 
4,090

 
12,185

 
11,957

Disposals
 
(3,171
)
 
(4,144
)
 
(10,917
)
 
(12,705
)
Write-downs, net of recoveries
 
(137
)
 
(55
)
 
(377
)
 
(347
)
Balance as of end of period(1)
 
$
11,380

 
$
10,278

 
$
11,380

 
$
10,278

__________
(1) 
Includes valuation allowance of $564 million and $664 million as of September 30, 2013 and 2012, respectively.