XML 74 R45.htm IDEA: XBRL DOCUMENT v2.4.0.6
Servicing Activities (Tables)
 6 Months Ended
Jun. 30, 2012
Servicing Activities [Abstract]  
Schedule of Servicing Assets at Fair Value [Table Text Block]
Six months ended June 30, ($ in millions)
 
2012
 
2011
Estimated fair value at January 1,
 
$
2,519

 
$
3,738

Additions recognized on sale of mortgage loans
 
—

 
328

Additions from purchases of servicing rights
 
117

 
16

Subtractions from sales of servicing assets
 
—

 
(266
)
Changes in fair value
 
 
 
 
Due to changes in valuation inputs or assumptions used in the valuation model
 
(138
)
 
163

Other changes in fair value
 
(263
)
 
(278
)
Deconsolidation of ResCap
 
(1,130
)
 
—

Estimated fair value at June 30, (a)
 
$
1,105

 
$
3,701

(a)
For the six months ended June 30, 2012, the remaining balance was at Ally Bank. Please see Note 1 for more information regarding the Debtors' Bankruptcy and the deconsolidation of ResCap.
The following tables summarize activity related to MSRs, which are carried at fair value. As MSRs do not trade in an active market with observable prices, management estimates fair value using internally developed discounted cash flow models (an income approach) to estimate the fair value. These internal valuation models estimate net cash flows based on internal operating assumptions that we believe would be used by market participants in orderly transactions combined with market-based assumptions for loan prepayment rates, interest rates, and discount rates that we believe approximate yields required by investors in this asset.
Three months ended June 30, ($ in millions)
 
2012
 
2011
Estimated fair value at April 1,
 
$
2,595

 
$
3,774

Additions recognized on sale of mortgage loans
 
—

 
144

Additions from purchases of servicing rights
 
42

 
15

Subtractions from sales of servicing assets
 
—

 
—

Changes in fair value
 
 
 
 
Due to changes in valuation inputs or assumptions used in the valuation model
 
(301
)
 
(135
)
Other changes in fair value
 
(101
)
 
(97
)
Deconsolidation of ResCap
 
(1,130
)
 
—

Estimated fair value at June 30, (a)
 
$
1,105

 
$
3,701

(a)
For the three months ended June 30, 2012, the remaining balance was at Ally Bank. Please see Note 1 for more information regarding the Debtors' Bankruptcy and the deconsolidation of ResCap.
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block]
The key economic assumptions and sensitivity of the fair value of MSRs to immediate 10% and 20% adverse changes in those assumptions were as follows.
($ in millions)
 
June 30, 2012
 
December 31, 2011
Weighted average life (in years)
 
4.8

 
4.7

Weighted average prepayment speed
 
13.1
%
 
15.7
%
Impact on fair value of 10% adverse change
 
$
(78
)
 
$
(135
)
Impact on fair value of 20% adverse change
 
(147
)
 
(257
)
Weighted average discount rate
 
8.0
%
 
10.2
%
Impact on fair value of 10% adverse change
 
$
(14
)
 
$
(59
)
Impact on fair value of 20% adverse change
 
(26
)
 
(114
)
Components Of Servicing Valuation And Hedge Activities [Table Text Block]
The components of servicing valuation and hedge activities, net, were as follows.
 
 
Three months ended June 30,
 
Six months ended June 30,
($ in millions)
 
2012
 
2011
 
2012
 
2011
Change in estimated fair value of mortgage servicing rights
 
$
(402
)
 
$
(232
)
 
$
(401
)
 
$
(115
)
Change in fair value of derivative financial instruments
 
329

 
127

 
337

 
(77
)
Servicing asset valuation and hedge activities, net
 
$
(73
)
 
$
(105
)
 
$
(64
)
 
$
(192
)
Components Of Mortgage Servicing Fees [Table Text Block]
The components of mortgage servicing fees were as follows.
 
 
Three months ended June 30,
 
Six months ended June 30,
($ in millions)
 
2012
 
2011
 
2012
 
2011
Contractual servicing fees, net of guarantee fees and including subservicing
 
$
160

 
$
247

 
$
386

 
$
504

Late fees
 
8

 
16

 
27

 
37

Ancillary fees
 
18

 
37

 
53

 
70

Total mortgage servicing fees
 
$
186

 
$
300

 
$
466

 
$
611
Schedule Of Unpaid Principal Balance Of Serviced Mortgage Assets [Table Text Block]
The unpaid principal balance of our serviced mortgage assets were as follows.
($ in millions)
 
June 30, 2012 (a)
 
December 31, 2011
On-balance sheet mortgage loans
 
 
 
 
Held-for-sale and investment
 
$
9,716

 
$
18,871

Operations held-for-sale
 
—

 
541

Off-balance sheet mortgage loans
 
 
 
 
Loans sold to third-party investors
 
 
 
 
Private-label
 
—

 
50,886

GSEs
 
127,383

 
262,868

Whole-loan
 
3

 
15,105

Purchased servicing rights
 
—

 
3,247

Operations held-for-sale
 
—

 
4,912

Total primary serviced mortgage loans
 
137,102

 
356,430

Subserviced mortgage loans
 
—

 
26,358

Subserviced operations held-for-sale
 
—

 
4

Total subserviced mortgage loans
 
—

 
26,362

Master-servicing-only mortgage loans
 
—

 
8,557

Total serviced mortgage loans
 
$
137,102

 
$
391,349

(a)
At June 30, 2012 the remaining balances were at Ally Bank, due to the deconsolidation of ResCap. Please see Note 1 for more information regarding the Debtors' Bankruptcy and the deconsolidation of ResCap.
Schedule Of Total Serviced Automobile Loans Outstanding [Table Text Block]
The total serviced automobile loans outstanding were as follows.
($ in millions)
 
June 30, 2012
 
December 31, 2011
On-balance sheet automobile loans and leases
 
 
 
 
Consumer automobile
 
$
68,759

 
$
63,884

Commercial automobile
 
38,373

 
37,302

Operating leases
 
11,197

 
9,275

Operations held-for-sale
 
43

 
102

Off-balance sheet automobile loans
 
 
 
 
Loans sold to third-party investors
 
 
 
 
Securitizations
—

1,803

 
—

Whole-loan
 
8,805

 
12,318

Total serviced automobile loans and leases
 
$
128,980

 
$
122,881