Loan Sales And Securitizations (Tables)

6 Months Ended

Jun. 30, 2011

Loan Sales And Securitizations

Schedule Of Sensitivity Of Fair Value Of Retained Or Purchased MSR Immediate 10 Percent And 20 Percent Adverse Changes In Assumptions

	June 30, 2011									June 30, 2010
(Dollars in thousands	First			Second						First			Second
except for annual cost to service)	Liens			Liens			HELOC			Liens			Liens			HELOC
Fair value of retained interests	$	183,530		$	251		$	3,177		$	197,953		$	242		$	3,551
Weighted average life (in years)		4.3			2.9			2.6			3.7			2.3			2.5
Annual prepayment rate		20.0	%		26.0	%		29.4	%		22.6	%		33.0	%		31.6	%
Impact on fair value of 10% adverse change	$	(9,109	)	$	(16	)	$	(229	)	$	(11,766	)	$	(24	)	$	(446	)
Impact on fair value of 20% adverse change		(17,448	)		(31	)		(439	)		(22,425	)		(47	)		(854	)
Annual discount rate on servicing cash flows		11.6	%		14.0	%		18.0	%		11.8	%		14.0	%		18.0	%
Impact on fair value of 10% adverse change	$	(5,304	)	$	(7	)	$	(96	)	$	(5,189	)	$	(7	)	$	(173	)
Impact on fair value of 20% adverse change		(10,273	)		(14	)		(187	)		(10,071	)		(13	)		(336	)
Annual cost to service (per loan)	$	118		$	50		$	50		$	115		$	50		$	50
Impact on fair value of 10% adverse change		(3,830	)		(6	)		(51	)		(4,975	)		(5	)		(113	)
Impact on fair value of 20% adverse change		(7,633	)		(11	)		(101	)		(9,922	)		(10	)		(226	)
Annual earnings on escrow		1.4	%		—			—			2.0	%		—			—
Impact on fair value of 10% adverse change	$	(1,727	)		—			—		$	(2,484	)		—			—
Impact on fair value of 20% adverse change		(3,454	)		—			—			(4,968	)		—			—

Schedule Of Sensitivity Of Fair Value Of Other Retained Interests To Immediate 10 Percent And 20 Percent Adverse Changes Assumptions

	Excess
(Dollars in thousands	Interest			Certificated
except for annual cost to service)	IO			PO
June 30, 2011
Fair value of retained interests	$	22,643		$	8,775
Weighted average life (in years)		4.5			4.9
Annual prepayment rate		17.1	%		25.6	%
Impact on fair value of 10% adverse change	$	(978	)	$	(303	)
Impact on fair value of 20% adverse change		(1,893	)		(594	)
Annual discount rate on residual cash flows		13.1	%		18.7	%
Impact on fair value of 10% adverse change	$	(926	)	$	(439	)
Impact on fair value of 20% adverse change		(1,773	)		(872	)
June 30, 2010
Fair value of retained interests	$	28,611		$	11,340
Weighted average life (in years)		3.7			4.6
Annual prepayment rate		20.7	%		25.4	%
Impact on fair value of 10% adverse change	$	(1,493	)	$	(336	)
Impact on fair value of 20% adverse change		(2,875	)		(668	)
Annual discount rate on residual cash flows		13.6	%		21.3	%
Impact on fair value of 10% adverse change	$	(1,101	)	$	(449	)
Impact on fair value of 20% adverse change		(2,113	)		(900	)

Schedule Of Cash Flows Related To Loan Sales And Securitizations

	Three Months Ended				Six Months Ended
	June 30				June 30
(Dollars in thousands)	2011		2010		2011		2010
Proceeds from initial sales and securitizations	$	54,621	$	180,430	$	193,823	$	356,766
Servicing fees retained (a)		19,843		27,074		41,335		55,890
Purchases of GNMA guaranteed mortgages		15,704		18,462		37,911		36,606
Purchases of previously transferred financial assets (b) (c)		88,444		66,314		141,636		187,405
Other cash flows received on retained interests		1,859		2,412		4,062		4,983

Certain previously reported amounts have been reclassified to agree with current presentation.

(a)	Includes servicing fees on MSR associated with loan sales and purchased MSR.
(b)	Includes repurchases of both delinquent and performing loans, foreclosed assets, and make-whole payments for economic losses incurred by purchaser. Also includes buyouts from GSEs in order to facilitate foreclosures.
(c)	2011 includes $32.7 million related to clean-up calls exercised by FHN in second quarter.

Schedule Of Principal Amount Of Delinquent Loans, And Net Credit Losses

	Total Principal			Principal Amount		Net Credit
(Dollars in thousands)	Amount of Loans			of Delinquent Loans (a)		Losses (b)
						Three Months Ended		Six Months Ended
	On June 30, 2011					June 30, 2011		June 30, 2011
Type of loan:
Real estate residential	$	19,703,040		$	926,851	$	127,649	$	255,998
Total loans managed or transferred (c)	$	19,703,040		$	926,851	$	127,649	$	255,998
Loans sold		(12,291,777	)
Loans held for sale		(318,888	)
Loans held in portfolio	$	7,092,375

(a)	Loans 90 days or more past due include $39.9 million of GNMA guaranteed mortgages.
(b)	Principal amount of loans securitized and sold includes $8.9 billion of loans securitized through GNMA, FNMA, or FHLMC. FHN retains interests other than servicing rights on a portion of these securitized loans. No delinquency or net credit loss data is included for the loans securitized through FNMA or FHMLC because these agencies retain credit risk. The remainder of loans securitized and sold were securitized through proprietary trusts, where FHN retained interests other than servicing rights. See Note 9 — Contingencies and Other Disclosures for discussion related to repurchase obligations for loans transferred to GSEs and private investors.
(c)	Amount represents real estate residential loans transferred in proprietary securitizations and whole loan sales in which FHN has a retained interest other than servicing rights. For loans transferred to GSEs, includes all loans with retained interests.

	Total Principal			Principal Amount		Net Credit
(Dollars in thousands)	Amount of Loans			of Delinquent Loans (a)		Losses (b)
						Three months ended		Six months ended
	On June 30, 2010					June 30, 2010		June 30, 2010
Type of loan:
Real estate residential	$	24,237,368		$	1,011,894	$	151,686	$	294,607
Total loans managed or transferred (c)	$	24,237,368		$	1,011,894	$	151,686	$	294,607
Loans sold		(16,110,053	)
Loans held for sale		(339,062	)
Loans held in portfolio	$	7,788,253

(a)	Loans 90 days or more past due include $35.8 million of GNMA guaranteed mortgages.
(b)	Principal amount of loans securitized and sold includes $11.7 billion of loans securitized through GNMA, FNMA, or FHLMC. FHN retains interests other than servicing rights on a portion of these securitized loans. No delinquency or net credit loss data is included for the loans securitized through FNMA or FHMLC because these agencies retain credit risk. The remainder of loans securitized and sold were securitized through proprietary trusts, where FHN retained interests other than servicing rights. See Note 9 — Contingencies and Other Disclosures for discussion related to repurchase obligations for loans transferred to GSEs and private investors.
(c)	Amount represents real estate residential loans transferred in proprietary securitizations and whole loan sales in which FHN has a retained interest other than servicing rights. For loans transferred to GSEs, includes all loans with retained interests.