Loans Held-For-Sale, Net

3 Months Ended

Mar. 31, 2012

Loans Receivable Held-for-sale, Net [Abstract]

Loans held-for-sale, Net

Loans Held-for-Sale, Net

The composition of loans held-for-sale, net, was as follows.

	March 31, 2012						December 31, 2011
($ in millions)	Domestic		Foreign		Total		Domestic		Foreign		Total
Consumer automobile	$	623	$	—	$	623	$	425	$	—	$	425
Consumer mortgage
1st Mortgage	5,299		35		5,334		7,360		12		7,372
Home equity	713		—		713		740		—		740
Total consumer mortgage (a)	6,012		35		6,047		8,100		12		8,112
Commercial and industrial
Other	—		—		—		20		—		20
Total loans held-for-sale (b)	$	6,635	$	35	$	6,670	$	8,545	$	12	$	8,557

(a) Fair value option-elected domestic consumer mortgages were $1.8 billion and $3.9 billion at March 31, 2012, and December 31, 2011, respectively. Refer to Note 21 for additional information.

(b) Totals are net of unamortized premiums and discounts and deferred fees and costs. Included in the totals are net unamortized discounts of $275 million and $221 million at March 31, 2012, and December 31, 2011, respectively.

The following table summarizes held-for-sale mortgage loans reported at carrying value by higher-risk loan type.

($ in millions)	March 31, 2012		December 31, 2011
High original loan-to-value (greater than 100%) mortgage loans	$	577	$	423
Payment-option adjustable-rate mortgage loans	13		12
Interest-only mortgage loans	283		298
Below-market rate (teaser) mortgages	167		169
Total higher-risk mortgage loans held-for-sale (a)	$	1,040	$	902

(a) The majority of these loans are held by our Mortgage Legacy Portfolio and Other operations at March 31, 2012, and December 31, 2011.