Loans Held-For-Sale, Net

9 Months Ended

Sep. 30, 2011

Loans Held-For-Sale, Net [Abstract]

Loans Held-For-Sale, Net

7. Loans Held-for-sale, Net

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

	September 30, 2011						December 31, 2010
($ in millions)	Domestic		Foreign		Total		Domestic		Foreign		Total
Consumer automobile	$	464	$	—	$	464	$	—	$	—	$	—
Consumer mortgage
1st Mortgage		6,961		528		7,489		10,191		364		10,555
Home equity		765		—		765		856		—		856
Total consumer mortgage (a)		7,726		528		8,254		11,047		364		11,411
Commercial and industrial
Other		27		—		27		—		—		—
Total loans held-for-sale (b)	$	8,217	$	528	$	8,745	$	11,047	$	364	$	11,411

(a) Fair value option-elected domestic consumer mortgages were $3.2 billion and $6.4 billion at September 30, 2011, and December 31, 2010, 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 $218 million and $161 million at September 30, 2011, and December 31, 2010, respectively.

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

($ in millions)	September 30, 2011		December 31, 2010
High original loan-to-value (greater than 100%) mortgage loans	$	295	$	331
Payment-option adjustable-rate mortgage loans		9		16
Interest-only mortgage loans		410		481
Below-market rate (teaser) mortgages		145		151
Total (a)	$	859	$	979

(a) The majority of these loans are held by our Mortgage Legacy Portfolio and Other operations at September 30, 2011, and December 31, 2010.