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Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Loans and Allowance for Credit Losses, Loans Outstanding
The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $4.0 billion and $4.5 billion at June 30, 2015, and December 31, 2014, respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums.
(in millions)
Jun 30,
2015

 
Dec 31,
2014

Commercial:
  

 
  

Commercial and industrial
$
284,817

 
271,795

Real estate mortgage
119,695

 
111,996

Real estate construction
21,309

 
18,728

Lease financing
12,201

 
12,307

Total commercial
438,022

 
414,826

Consumer:
 
 
 
Real estate 1-4 family first mortgage
267,868

 
265,386

Real estate 1-4 family junior lien mortgage
56,164

 
59,717

Credit card
31,135

 
31,119

Automobile
57,801

 
55,740

Other revolving credit and installment
37,469

 
35,763

Total consumer
450,437

 
447,725

Total loans
$
888,459

 
862,551


Our foreign loans are reported by respective class of financing receivable in the table above. Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign primarily based on whether the borrower’s primary address is outside of the United States. The following table presents total commercial foreign loans outstanding by class of financing receivable.
(in millions)
Jun 30,
2015

 
Dec 31,
2014

Commercial foreign loans:
 
 
 
Commercial and industrial
$
44,838

 
44,707

Real estate mortgage
9,125

 
4,776

Real estate construction
389

 
218

Lease financing
301

 
336

Total commercial foreign loans
$
54,653

 
50,037
Loans and Allowance for Credit Losses, Significant Activity
The following table summarizes the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale at lower of cost or fair value. This loan activity primarily includes loans purchased and sales of whole loan or participating interests, whereby we receive or transfer a portion of a loan after origination. The table excludes PCI loans and loans recorded at fair value, including loans originated for sale because their loan activity normally does not impact the allowance for credit losses.
 
  
2015
 
 
2014
 
(in millions)
Commercial

 
Consumer

 
Total

 
Commercial

 
Consumer

 
Total

Quarter ended June 30,
 
 
 
 
  
 
  
 
  
 
  
Purchases (1)
$
9,739

 
311

 
10,050

 
1,523

 
—

 
1,523

Sales
(157
)
 
(1
)
 
(158
)
 
(1,958
)
 
(25
)
 
(1,983
)
Transfers to MHFS/LHFS (1)
(45
)
 
(5
)
 
(50
)
 
(24
)
 
(9,773
)
 
(9,797
)
Six months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Purchases (1)
$
10,830

 
311

 
11,141

 
2,537

 
168

 
2,705

Sales
(363
)
 
(30
)
 
(393
)
 
(3,599
)
 
(75
)
 
(3,674
)
Transfers to MHFS/LHFS (1)
(52
)
 
(7
)
 
(59
)
 
(59
)
 
(9,778
)
 
(9,837
)
(1)
The “Purchases” and “Transfers to MHFS/LHFS" categories exclude activity in government insured/guaranteed real estate 1-4 family first mortgage loans. As servicer, we are able to buy delinquent insured/guaranteed loans out of the Government National Mortgage Association (GNMA) pools. These loans are predominantly insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Accordingly, these loans have limited impact on the allowance for loan losses. On a net basis, such purchases net of transfers to MHFS were $(228) million and $(1.3) billion for second quarter 2015 and 2014, respectively and $900 million and $237 million for the first half of 2015 and 2014, respectively.
Loans and Allowance for Credit Losses, Commitments to Lend
The contractual amount of our unfunded credit commitments, including unissued standby and commercial letters of credit, is summarized by portfolio segment and class of financing receivable in the following table. The table excludes the standby and commercial letters of credit and temporary advance arrangements described above.
(in millions)
Jun 30,
2015

 
Dec 31,
2014

Commercial:
  

 
  

Commercial and industrial
$
283,008

 
278,093

Real estate mortgage
7,542

 
6,134

Real estate construction
16,114

 
15,587

Lease financing
—

 
3

Total commercial
306,664

 
299,817

Consumer:
 
 
 
Real estate 1-4 family first mortgage
36,114

 
32,055

Real estate 1-4 family
junior lien mortgage
44,348

 
45,492

Credit card
97,184

 
95,062

Other revolving credit and installment
26,566

 
24,816

Total consumer
204,212

 
197,425

Total unfunded
credit commitments
$
510,876

 
497,242
Loans and Allowance for Credit Losses, Allowance for Credit Losses
Changes in the allowance for credit losses were:
  
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2015

 
2014

 
2015

 
2014

Balance, beginning of period
$
13,013

 
14,414

 
13,169

 
14,971

Provision for credit losses
300

 
217

 
908

 
542

Interest income on certain impaired loans (1)
(50
)
 
(55
)
 
(102
)
 
(111
)
Loan charge-offs:
  
 
  
 
 
 
 
Commercial:
  
 
  
 
 
 
 
Commercial and industrial
(154
)
 
(146
)
 
(287
)
 
(309
)
Real estate mortgage
(16
)
 
(16
)
 
(39
)
 
(36
)
Real estate construction
(1
)
 
(3
)
 
(2
)
 
(4
)
Lease financing
(3
)
 
(3
)
 
(6
)
 
(7
)
Total commercial
(174
)
 
(168
)
 
(334
)
 
(356
)
Consumer:
  
 
  
 
 
 
 
Real estate 1-4 family first mortgage
(119
)
 
(193
)
 
(249
)
 
(416
)
Real estate 1-4 family junior lien mortgage
(163
)
 
(220
)
 
(342
)
 
(469
)
Credit card
(284
)
 
(266
)
 
(562
)
 
(533
)
Automobile
(150
)
 
(143
)
 
(345
)
 
(323
)
Other revolving credit and installment
(151
)
 
(171
)
 
(305
)
 
(348
)
Total consumer
(867
)
 
(993
)
 
(1,803
)
 
(2,089
)
Total loan charge-offs
(1,041
)
 
(1,161
)
 
(2,137
)
 
(2,445
)
Loan recoveries:
  
 
  
 
 
 
 
Commercial:
  
 
  
 
 
 
 
Commercial and industrial
73

 
86

 
142

 
200

Real estate mortgage
31

 
26

 
65

 
68

Real estate construction
7

 
23

 
17

 
47

Lease financing
1

 
2

 
4

 
5

Total commercial
112

 
137

 
228

 
320

Consumer:
  
 
  
 
 
 
 
Real estate 1-4 family first mortgage
52

 
56

 
99

 
109

Real estate 1-4 family junior lien mortgage
69

 
60

 
125

 
117

Credit card
41

 
55

 
80

 
91

Automobile
82

 
97

 
176

 
187

Other revolving credit and installment
35

 
39

 
71

 
79

Total consumer
279

 
307

 
551

 
583

Total loan recoveries
391

 
444

 
779

 
903

Net loan charge-offs (2)
(650
)
 
(717
)
 
(1,358
)
 
(1,542
)
Allowances related to business combinations/other
1

 
(25
)
 
(3
)
 
(26
)
Balance, end of period
$
12,614

 
13,834

 
12,614

 
13,834

Components:
  
 
  
 
 
 
 
Allowance for loan losses
$
11,754

 
13,101

 
11,754

 
13,101

Allowance for unfunded credit commitments
860

 
733

 
860

 
733

Allowance for credit losses (3)
$
12,614

 
13,834

 
12,614

 
13,834

Net loan charge-offs (annualized) as a percentage of average total loans (2)
0.30
%
 
0.35

 
0.32

 
0.38

Allowance for loan losses as a percentage of total loans (3)
1.32

 
1.58

 
1.32

 
1.58

Allowance for credit losses as a percentage of total loans (3)
1.42

 
1.67

 
1.42

 
1.67

(1)
Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize reductions in the allowance as interest income.
(2)
For PCI loans, charge-offs are only recorded to the extent that losses exceed the purchase accounting estimates.
(3)
The allowance for credit losses includes $7 million and $8 million at June 30, 2015 and 2014, respectively, related to PCI loans acquired from Wachovia. Loans acquired from Wachovia are included in total loans net of related purchase accounting net write-downs.
Loans and Allowance for Credit Losses, Allowance for Credit Losses by Category
The following table summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments.
  
  

 
  

 
2015

 
  

 
  

 
2014

(in millions)
Commercial

 
Consumer

 
Total

 
Commercial

 
Consumer

 
Total

Quarter ended June 30,
  

 
  

 
  

 
  

 
  

 
  

Balance, beginning of period
$
6,333

 
6,680

 
13,013

 
6,354

 
8,060

 
14,414

Provision for credit losses
11

 
289

 
300

 
83

 
134

 
217

Interest income on certain impaired loans
(4
)
 
(46
)
 
(50
)
 
(6
)
 
(49
)
 
(55
)
 
 
 
 
 
 
 
 
 
 
 
 
Loan charge-offs
(174
)
 
(867
)
 
(1,041
)
 
(168
)
 
(993
)
 
(1,161
)
Loan recoveries
112

 
279

 
391

 
137

 
307

 
444

Net loan charge-offs
(62
)
 
(588
)
 
(650
)
 
(31
)
 
(686
)
 
(717
)
Allowance related to business combinations/other
1

 
—

 
1

 
—

 
(25
)
 
(25
)
Balance, end of period
$
6,279

 
6,335

 
12,614

 
6,400

 
7,434

 
13,834

 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
  
 
  
 
  
 
  
 
  
 
  
Balance, beginning of period
$
6,377

 
6,792

 
13,169

 
6,103

 
8,868

 
14,971

Provision for credit losses
20

 
888

 
908

 
346

 
196

 
542

Interest income on certain impaired loans
(9
)
 
(93
)
 
(102
)
 
(12
)
 
(99
)
 
(111
)
 
 
 
 
 
 
 
 
 
 
 
 
Loan charge-offs
(334
)
 
(1,803
)
 
(2,137
)
 
(356
)
 
(2,089
)
 
(2,445
)
Loan recoveries
228

 
551

 
779

 
320

 
583

 
903

Net loan charge-offs
(106
)
 
(1,252
)
 
(1,358
)
 
(36
)
 
(1,506
)
 
(1,542
)
Allowance related to business combinations/other
(3
)
 
—

 
(3
)
 
(1
)
 
(25
)
 
(26
)
Balance, end of period
$
6,279

 
6,335

 
12,614

 
6,400

 
7,434

 
13,834
Loans and Allowance for Credit Losses, by Impairment Methodology
The following table disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology.
  
Allowance for credit losses
 
 
Recorded investment in loans
 
(in millions)
Commercial

 
Consumer

 
Total

 
Commercial

 
Consumer

 
Total

June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated (1)
$
5,523

 
3,568

 
9,091

 
433,247

 
408,736

 
841,983

Individually evaluated (2)
749

 
2,767

 
3,516

 
3,902

 
21,019

 
24,921

PCI (3)
7

 
—

 
7

 
873

 
20,682

 
21,555

Total
$
6,279

 
6,335

 
12,614

 
438,022

 
450,437

 
888,459

December 31, 2014
 
Collectively evaluated (1)
$
5,482

 
3,706

 
9,188

 
409,560

 
404,263

 
813,823

Individually evaluated (2)
884

 
3,086

 
3,970

 
3,759

 
21,649

 
25,408

PCI (3)
11

 
—

 
11

 
1,507

 
21,813

 
23,320

Total
$
6,377

 
6,792

 
13,169

 
414,826

 
447,725

 
862,551

(1)
Represents loans collectively evaluated for impairment in accordance with Accounting Standards Codification (ASC) 450-20,Loss Contingencies(formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans.
(2)
Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans.
(3)
Represents the allowance and related loan carrying value determined in accordance with ASC 310-30, Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans.
Loans by Credit Quality Indicator
The following table provides a breakdown of outstanding commercial loans by risk category. Of the $8.7 billion in criticized commercial real estate (CRE) loans at June 30, 2015, $1.4 billion has been placed on nonaccrual status and written down to net realizable collateral value. CRE loans have a high level of monitoring in place to manage these assets and mitigate loss exposure.
 
(in millions)
Commercial
and
industrial

 
Real
estate
mortgage

 
Real
estate
construction

 
Lease
financing

 
Total

June 30, 2015
 
 
 
 
 
 
 
 
 
By risk category:
 
 
 
 
 
 
 
 
 
Pass
$
268,741

 
111,151

 
20,392

 
11,760

 
412,044

Criticized
15,990

 
7,863

 
811

 
441

 
25,105

Total commercial loans (excluding PCI)
284,731

 
119,014

 
21,203

 
12,201

 
437,149

Total commercial PCI loans (carrying value)
86

 
681

 
106

 
—

 
873

Total commercial loans
$
284,817

 
119,695

 
21,309

 
12,201

 
438,022

December 31, 2014
 
 
 
 
 
 
 
 
 
By risk category:
 
 
 
 
 
 
 
 
 
Pass
$
255,611

 
103,319

 
17,661

 
11,723

 
388,314

Criticized
16,109

 
7,416

 
896

 
584

 
25,005

Total commercial loans (excluding PCI)
271,720

 
110,735

 
18,557

 
12,307

 
413,319

Total commercial PCI loans (carrying value)
75

 
1,261

 
171

 
—

 
1,507

Total commercial loans
$
271,795

 
111,996

 
18,728

 
12,307

 
414,826
Loans by Delinquency Status, Commercial
The following table provides past due information for commercial loans, which we monitor as part of our credit risk management practices.
 
(in millions)
Commercial
and
industrial

 
Real
estate
mortgage

 
Real
estate
construction

 
Lease
financing

 
Total

June 30, 2015
 
 
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
 
 
Current-29 DPD and still accruing
$
283,047

 
117,416

 
20,930

 
12,153

 
433,546

30-89 DPD and still accruing
588

 
338

 
108

 
20

 
1,054

90+ DPD and still accruing
17

 
10

 
—

 
—

 
27

Nonaccrual loans
1,079

 
1,250

 
165

 
28

 
2,522

Total commercial loans (excluding PCI)
284,731

 
119,014

 
21,203

 
12,201

 
437,149

Total commercial PCI loans (carrying value)
86

 
681

 
106

 
—

 
873

Total commercial loans
$
284,817

 
119,695

 
21,309

 
12,201

 
438,022

December 31, 2014
 
 
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
 
 
Current-29 DPD and still accruing
$
270,624

 
109,032

 
18,345

 
12,251

 
410,252

30-89 DPD and still accruing
527

 
197

 
25

 
32

 
781

90+ DPD and still accruing
31

 
16

 
—

 
—

 
47

Nonaccrual loans
538

 
1,490

 
187

 
24

 
2,239

Total commercial loans (excluding PCI)
271,720

 
110,735

 
18,557

 
12,307

 
413,319

Total commercial PCI loans (carrying value)
75

 
1,261

 
171

 
—

 
1,507

Total commercial loans
$
271,795

 
111,996

 
18,728

 
12,307

 
414,826
Loans by Delinquency Status, Consumer
The following table provides the outstanding balances of our consumer portfolio by delinquency status.
(in millions)
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Credit
card

 
Automobile

 
Other
revolving
credit and
installment

 
Total

June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
 
 
 
 
Current-29 DPD
$
215,683

 
54,861

 
30,473

 
56,715

 
37,107

 
394,839

30-59 DPD
2,135

 
328

 
213

 
833

 
157

 
3,666

60-89 DPD
826

 
188

 
145

 
193

 
96

 
1,448

90-119 DPD
391

 
126

 
107

 
55

 
75

 
754

120-179 DPD
446

 
146

 
196

 
4

 
19

 
811

180+ DPD
3,897

 
434

 
1

 
1

 
15

 
4,348

Government insured/guaranteed loans (1)
23,889

 
—

 
—

 
—

 
—

 
23,889

Total consumer loans (excluding PCI)
247,267

 
56,083

 
31,135

 
57,801

 
37,469

 
429,755

Total consumer PCI loans (carrying value)
20,601

 
81

 
—

 
—

 
—

 
20,682

Total consumer loans
$
267,868

 
56,164

 
31,135

 
57,801

 
37,469

 
450,437

December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
 
 
 
 
Current-29 DPD
$
208,642

 
58,182

 
30,356

 
54,365

 
35,356

 
386,901

30-59 DPD
2,415

 
398

 
239

 
1,056

 
180

 
4,288

60-89 DPD
993

 
220

 
160

 
235

 
111

 
1,719

90-119 DPD
488

 
158

 
136

 
78

 
82

 
942

120-179 DPD
610

 
194

 
227

 
5

 
21

 
1,057

180+ DPD
4,258

 
464

 
1

 
1

 
13

 
4,737

Government insured/guaranteed loans (1)
26,268

 
—

 
—

 
—

 
—

 
26,268

Total consumer loans (excluding PCI)
243,674

 
59,616

 
31,119

 
55,740

 
35,763

 
425,912

Total consumer PCI loans (carrying value)
21,712

 
101

 
—

 
—

 
—

 
21,813

Total consumer loans
$
265,386

 
59,717

 
31,119

 
55,740

 
35,763

 
447,725

(1)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA and student loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the Federal Family Education Loan Program (FFELP). Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $13.9 billion at June 30, 2015, compared with $16.2 billion at December 31, 2014.
Loans by FICO Score, Consumer
The following table provides a breakdown of our consumer portfolio by updated FICO. We obtain FICO scores at loan origination and the scores are updated at least quarterly. The majority of our portfolio is underwritten with a FICO score of 680 and above. FICO is not available for certain loan types and may not be obtained if we deem it unnecessary due to strong collateral and other borrower attributes, primarily security-based loans of $6.5 billion at June 30, 2015, and $5.9 billion at December 31, 2014.
(in millions)
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Credit
card

 
Automobile

 
Other
revolving
credit and
installment

 
Total

June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
By updated FICO:
 
 
 
 
 
 
 
 
 
 
 
< 600
$
10,143

 
3,639

 
2,671

 
8,637

 
936

 
26,026

600-639
7,570

 
2,633

 
2,637

 
6,467

 
1,047

 
20,354

640-679
13,765

 
4,975

 
4,898

 
9,781

 
2,308

 
35,727

680-719
24,460

 
8,361

 
6,309

 
10,668

 
4,284

 
54,082

720-759
36,085

 
11,560

 
6,463

 
7,949

 
5,831

 
67,888

760-799
87,575

 
17,064

 
5,275

 
7,468

 
7,934

 
125,316

800+
40,323

 
7,032

 
2,654

 
6,424

 
6,286

 
62,719

No FICO available
3,457

 
819

 
228

 
407

 
2,307

 
7,218

FICO not required
—

 
—

 
—

 
—

 
6,536

 
6,536

Government insured/guaranteed loans (1)
23,889

 
—

 
—

 
—

 
—

 
23,889

Total consumer loans (excluding PCI)
247,267

 
56,083

 
31,135

 
57,801

 
37,469

 
429,755

Total consumer PCI loans (carrying value)
20,601

 
81

 
—

 
—

 
—

 
20,682

Total consumer loans
$
267,868

 
56,164

 
31,135

 
57,801

 
37,469

 
450,437

December 31, 2014
 
 
 
 
 
 
 
 
 
 


By updated FICO:
 
 
 
 
 
 
 
 
 
 

< 600
$
11,166

 
4,001

 
2,639

 
8,825

 
894

 
27,525

600-639
7,866

 
2,794

 
2,588

 
6,236

 
1,058

 
20,542

640-679
13,894

 
5,324

 
4,931

 
9,352

 
2,366

 
35,867

680-719
24,412

 
8,970

 
6,285

 
9,994

 
4,389

 
54,050

720-759
35,490

 
12,171

 
6,407

 
7,475

 
5,896

 
67,439

760-799
82,123

 
17,897

 
5,234

 
7,315

 
7,673

 
120,242

800+
39,219

 
7,581

 
2,758

 
6,184

 
5,819

 
61,561

No FICO available
3,236

 
878

 
277

 
359

 
1,814

 
6,564

FICO not required
—

 
—

 
—

 
—

 
5,854

 
5,854

Government insured/guaranteed loans (1)
26,268

 
—

 
—

 
—

 
—

 
26,268

Total consumer loans (excluding PCI)
243,674

 
59,616

 
31,119

 
55,740

 
35,763

 
425,912

Total consumer PCI loans (carrying value)
21,712

 
101

 
—

 
—

 
—

 
21,813

Total consumer loans
$
265,386

 
59,717

 
31,119

 
55,740

 
35,763

 
447,725

(1)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA and student loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under FFELP.
Loans by Loan to Value Ratio, Consumer
The following table shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV primarily due to industry data availability and portfolios acquired from or serviced by other institutions.
  
June 30, 2015
 
 
December 31, 2014
 
(in millions)
Real estate
1-4 family
first
mortgage
by LTV

 
Real estate
1-4 family
junior lien
mortgage
by CLTV

 
Total

 
Real estate
1-4 family
first
mortgage
by LTV

 
Real estate
1-4 family
junior lien
mortgage
by CLTV

 
Total

By LTV/CLTV:
  

 
  

 
  

 
  

 
  

 
  

0-60%
$
100,133

 
15,044

 
115,177

 
95,719

 
15,603

 
111,322

60.01-80%
88,783

 
16,786

 
105,569

 
86,112

 
17,651

 
103,763

80.01-100%
24,683

 
12,834

 
37,517

 
25,170

 
14,004

 
39,174

100.01-120% (1)
5,436

 
6,586

 
12,022

 
6,133

 
7,254

 
13,387

> 120% (1)
2,690

 
3,771

 
6,461

 
2,856

 
4,058

 
6,914

No LTV/CLTV available
1,653

 
1,062

 
2,715

 
1,416

 
1,046

 
2,462

Government insured/guaranteed loans (2)
23,889

 
—

 
23,889

 
26,268

 
—

 
26,268

Total consumer loans (excluding PCI)
247,267

 
56,083

 
303,350

 
243,674

 
59,616

 
303,290

Total consumer PCI loans (carrying value)
20,601

 
81

 
20,682

 
21,712

 
101

 
21,813

Total consumer loans
$
267,868

 
56,164

 
324,032

 
265,386

 
59,717

 
325,103

(1)
Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.
(2)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA.
Nonaccrual Loans
The following table provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms.
(in millions)
Jun 30,
2015

 
Dec 31,
2014

Commercial:
  
 
  
Commercial and industrial
$
1,079

 
538

Real estate mortgage
1,250

 
1,490

Real estate construction
165

 
187

Lease financing
28

 
24

Total commercial (1)
2,522

 
2,239

Consumer:
 
 
 
Real estate 1-4 family first mortgage (2)
8,045

 
8,583

Real estate 1-4 family junior lien mortgage
1,710

 
1,848

Automobile
126

 
137

Other revolving credit and installment
40

 
41

Total consumer
9,921

 
10,609

Total nonaccrual loans
(excluding PCI)
$
12,443

 
12,848

(1)
Includes LHFS of $0 million at June 30, 2015 and $1 million at December 31, 2014. 
(2)
Includes MHFS of $144 million and $177 million at June 30, 2015, and December 31, 2014, respectively.
90 days or More Past Due and Still Accruing Loans
The following table shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed.
(in millions)
Jun 30, 2015

 
Dec 31, 2014

Loans 90 days or more past due and still accruing:
 
 
 
Total (excluding PCI):
$
15,161

 
17,810

Less: FHA insured/guaranteed by the VA (1)(2)
14,359

 
16,827

Less: Student loans guaranteed under the FFELP (3)
46

 
63

Total, not government insured/guaranteed
$
756

 
920

By segment and class, not government insured/guaranteed:
 
 
 
Commercial:
 
 
 
Commercial and industrial
$
17

 
31

Real estate mortgage
10

 
16

Real estate construction
—

 
—

Total commercial
27

 
47

Consumer:
 
 
 
Real estate 1-4 family first mortgage (2)
220

 
260

Real estate 1-4 family junior lien mortgage (2)
65

 
83

Credit card
304

 
364

Automobile
51

 
73

Other revolving credit and installment
89

 
93

Total consumer
729

 
873

Total, not government insured/guaranteed
$
756

 
920

(1)
Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA.
(2)
Includes mortgage loans held for sale 90 days or more past due and still accruing.
(3)
Represents loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP.
Impaired Loans
The table below summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. The table below includes trial modifications that totaled $450 million at June 30, 2015, and $452 million at December 31, 2014.
For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2014 Form 10-K.
 
 
 
Recorded investment
 
 
 
(in millions)
Unpaid
principal
balance (1)

 
Impaired
loans

 
Impaired loans
with related
allowance for
credit losses

 
Related
allowance for
credit losses

June 30, 2015
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
Commercial and industrial
$
2,137

 
1,438

 
1,252

 
228

Real estate mortgage
2,821

 
2,192

 
2,110

 
456

Real estate construction
413

 
249

 
233

 
57

Lease financing
39

 
23

 
23

 
8

Total commercial
5,410

 
3,902

 
3,618

 
749

Consumer:
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
20,652

 
18,035

 
11,845

 
2,054

Real estate 1-4 family junior lien mortgage
2,796

 
2,496

 
1,918

 
605

Credit card
315

 
315

 
315

 
93

Automobile
176

 
113

 
43

 
6

Other revolving credit and installment
67

 
60

 
52

 
9

Total consumer (2)
24,006

 
21,019

 
14,173

 
2,767

Total impaired loans (excluding PCI)
$
29,416

 
24,921

 
17,791

 
3,516

December 31, 2014
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
Commercial and industrial
$
1,524

 
926

 
757

 
240

Real estate mortgage
3,190

 
2,483

 
2,405

 
591

Real estate construction
491

 
331

 
308

 
45

Lease financing
33

 
19

 
19

 
8

Total commercial
5,238

 
3,759

 
3,489

 
884

Consumer:
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
21,324

 
18,600

 
12,433

 
2,322

Real estate 1-4 family junior lien mortgage
3,094

 
2,534

 
2,009

 
653

Credit card
338

 
338

 
338

 
98

Automobile
190

 
127

 
55

 
8

Other revolving credit and installment
60

 
50

 
42

 
5

Total consumer (2)
25,006

 
21,649

 
14,877

 
3,086

Total impaired loans (excluding PCI)
$
30,244

 
25,408

 
18,366

 
3,970

(1)
Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment.
(2)
Periods ended June 30, 2015 and December 31, 2014 each include the recorded investment of $1.9 billion and $2.1 billion, respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance.
Impaired Loans, Average Recorded Investment and Interest Income
The following tables provide the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class.
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
 
2015
 
 
2014
 
 
2015
 
 
2014
 
(in millions)
Average
recorded
investment

 
Recognized
interest
income

 
Average
recorded
investment

 
Recognized
interest
income

 
Average
recorded
investment

 
Recognized
interest
income

 
Average
recorded
investment

 
Recognized
interest
income

Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
1,109

 
23

 
1,193

 
17

 
1,050

 
43

 
1,221

 
38

Real estate mortgage
2,280

 
31

 
3,107

 
36

 
2,331

 
74

 
3,178

 
65

Real estate construction
264

 
11

 
465

 
8

 
284

 
15

 
521

 
15

Lease financing
23

 
—

 
33

 
—

 
22

 
—

 
33

 
—

Total commercial
3,676

 
65

 
4,798

 
61

 
3,687

 
132

 
4,953

 
118

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
18,161

 
235

 
19,313

 
238

 
18,321

 
466

 
19,407

 
475

Real estate 1-4 family junior lien mortgage
2,507

 
34

 
2,545

 
36

 
2,514

 
69

 
2,551

 
71

Credit card
321

 
10

 
391

 
12

 
326

 
20

 
405

 
24

Automobile
118

 
4

 
160

 
4

 
121

 
8

 
169

 
11

Other revolving credit and installment
57

 
1

 
38

 
1

 
54

 
2

 
37

 
2

Total consumer
21,164

 
284

 
22,447

 
291

 
21,336

 
565

 
22,569

 
583

Total impaired loans (excluding PCI)
$
24,840

 
349

 
27,245

 
352

 
25,023

 
697

 
27,522

 
701

Interest income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash basis of accounting
 
 
$
111

 
 
 
100

 
 
 
219

 
 
 
199

Other (1)
 
 
238

 
 
 
252

 
 
 
478

 
 
 
502

Total interest income
 
 
$
349

 
 
 
352

 
 
 
697

 
 
 
701

(1)
Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans.
Troubled Debt Restructurings, Modification by Type
The following table summarizes our TDR modifications for the periods presented by primary modification type and includes the financial effects of these modifications. For those loans that modify more than once, the table reflects each modification that occurred during the period. Loans that both modify and resolve within the period, as well as changes in recorded investment during the period for loans modified in prior periods, are not included in the table.
 
Primary modification type (1)
 
 
Financial effects of modifications
 
(in millions)
Principal (2)

 
Interest
rate
reduction

 
Other
concessions (3)

 
Total

 
Charge-
offs (4)

 
Weighted
average
interest
rate
reduction

 
Recorded
investment
related to
interest rate
reduction (5)

Quarter ended June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
—

 
5

 
425

 
430

 
—

 
0.96
%
 
$
5

Real estate mortgage
4

 
49

 
271

 
324

 
—

 
1.73

 
49

Real estate construction
—

 
2

 
13

 
15

 
—

 
0.86

 
2

Total commercial
4

 
56

 
709

 
769

 
—

 
1.62

 
56

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
78

 
88

 
425

 
591

 
12

 
2.62

 
155

Real estate 1-4 family junior lien mortgage
10

 
21

 
39

 
70

 
8

 
3.21

 
28

Credit card
—

 
39

 
—

 
39

 
—

 
11.33

 
40

Automobile
—

 
1

 
17

 
18

 
7

 
9.00

 
1

Other revolving credit and installment
—

 
8

 
2

 
10

 
1

 
5.88

 
8

Trial modifications (6)
—

 
—

 
46

 
46

 
—

 
—

 
—

Total consumer
88

 
157

 
529

 
774

 
28

 
4.31

 
232

Total
$
92

 
213

 
1,238

 
1,543

 
28

 
3.79
%
 
$
288

Quarter ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
4

 
24

 
246

 
274

 
15

 
0.95
%
 
$
24

Real estate mortgage
—

 
54

 
274

 
328

 
—

 
1.20

 
54

Real estate construction
—

 
1

 
24

 
25

 
—

 
1.72

 
1

Total commercial
4

 
79

 
544

 
627

 
15

 
1.13

 
79

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
176

 
85

 
621

 
882

 
28

 
2.46

 
194

Real estate 1-4 family junior lien mortgage
12

 
25

 
74

 
111

 
15

 
3.37

 
35

Credit card
—

 
44

 
—

 
44

 
—

 
12.09

 
44

Automobile
1

 
1

 
20

 
22

 
7

 
8.80

 
1

Other revolving credit and installment
—

 
2

 
3

 
5

 
—

 
4.92

 
2

Trial modifications (6)
—

 
—

 
(86
)
 
(86
)
 
—

 
—

 
—

Total consumer
189

 
157

 
632

 
978

 
50

 
4.15

 
276

Total
$
193

 
236

 
1,176

 
1,605

 
65

 
3.47
%
 
$
355

 
Primary modification type (1)
 
 
Financial effects of modifications
 
(in millions)
Principal (2)

 
Interest
rate
reduction

 
Other
concessions (3)

 
Total

 
Charge-
offs (4)

 
Weighted
average
interest
rate
reduction

 
Recorded
investment
related to
interest rate
reduction (5)

Six months ended June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
—

 
15

 
649

 
664

 
2

 
0.83
%
 
$
15

Real estate mortgage
4

 
70

 
580

 
654

 
1

 
1.61

 
70

Real estate construction
11

 
3

 
57

 
71

 
—

 
0.62

 
3

Total commercial
15

 
88

 
1,286

 
1,389

 
3

 
1.45

 
88

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
182

 
171

 
941

 
1,294

 
27

 
2.54

 
320

Real estate 1-4 family junior lien mortgage
17

 
41

 
90

 
148

 
20

 
3.20

 
55

Credit card
—

 
84

 
—

 
84

 
—

 
11.31

 
84

Automobile
1

 
2

 
44

 
47

 
17

 
9.03

 
2

Other revolving credit and installment
—

 
13

 
4

 
17

 
1

 
5.85

 
13

Trial modifications (6)
—

 
—

 
44

 
44

 
—

 
—

 
—

Total consumer
200

 
311

 
1,123

 
1,634

 
65

 
4.29

 
474

Total
$
215

 
399

 
2,409

 
3,023

 
68

 
3.84
%
 
$
562

Six months ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
4

 
37

 
511

 
552

 
26

 
1.69
%
 
$
37

Real estate mortgage
3

 
93

 
568

 
664

 
—

 
1.24

 
93

Real estate construction
—

 
2

 
167

 
169

 
—

 
1.61

 
2

Total commercial
7

 
132

 
1,246

 
1,385

 
26

 
1.36

 
132

Consumer:
 
 
 
 
 
 
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
349

 
193

 
1,378

 
1,920

 
60

 
2.61

 
440

Real estate 1-4 family junior lien mortgage
30

 
59

 
137

 
226

 
33

 
3.29

 
85

Credit card
—

 
80

 
—

 
80

 
—

 
11.20

 
80

Automobile
2

 
2

 
43

 
47

 
17

 
9.17

 
2

Other revolving credit and installment
—

 
3

 
4

 
7

 
—

 
4.91

 
3

Trial modifications (6)
—

 
—

 
(115
)
 
(115
)
 
—

 
—

 
—

Total consumer
381

 
337

 
1,447

 
2,165

 
110

 
3.87

 
610

Total
$
388

 
469

 
2,693

 
3,550

 
136

 
3.42
%
 
$
742

(1)
Amounts represent the recorded investment in loans after recognizing the effects of the TDR, if any. TDRs may have multiple types of concessions, but are presented only once in the first modification type based on the order presented in the table above. The reported amounts include loans remodified of $566 million and $558 million, for quarters ended June 30, 2015 and 2014, and $1.1 billion and $1.2 million for the first half of 2015 and 2014, respectively.
(2)
Principal modifications include principal forgiveness at the time of the modification, contingent principal forgiveness granted over the life of the loan based on borrower performance, and principal that has been legally separated and deferred to the end of the loan, with a zero percent contractual interest rate.
(3)
Other concessions include loan renewals, term extensions and other interest and noninterest adjustments, but exclude modifications that also forgive principal and/or reduce the contractual interest rate.
(4)
Charge-offs include write-downs of the investment in the loan in the period it is contractually modified. The amount of charge-off will differ from the modification terms if the loan has been charged down prior to the modification based on our policies. In addition, there may be cases where we have a charge-off/down with no legal principal modification. Modifications resulted in legally forgiving principal (actual, contingent or deferred) of $20 million and $44 million for the quarters ended June 30, 2015 and 2014, and $46 million and $92 million for the first half of 2015 and 2014, respectively.
(5)
Reflects the effect of reduced interest rates on loans with principal or interest rate reduction primary modification type.
(6)
Trial modifications are granted a delay in payments due under the original terms during the trial payment period. However, these loans continue to advance through delinquency status and accrue interest according to their original terms. Any subsequent permanent modification generally includes interest rate related concessions; however, the exact concession type and resulting financial effect are usually not known until the loan is permanently modified. Trial modifications for the period are presented net of previously reported trial modifications that became permanent in the current period.
Troubled Debt Restructuring, Current Defaults
The table below summarizes permanent modification TDRs that have defaulted in the current period within 12 months of their permanent modification date. We are reporting these defaulted TDRs based on a payment default definition of 90 days past due for the commercial portfolio segment and 60 days past due for the consumer portfolio segment.


 
Recorded investment of defaults
 
 
Quarter ended June 30,
 
 
Six months ended June 30,
 
(in millions)
2015

 
2014

 
2015

 
2014

Commercial:
 
 
 
 
 
 
 
Commercial and industrial
$
38

 
16

 
46

 
30

Real estate mortgage
49

 
21

 
72

 
63

Real estate construction
1

 
—

 
2

 
3

Total commercial
88

 
37

 
120

 
96

Consumer:
 
 
 
 
 
 
 
Real estate 1-4 family first mortgage
42

 
78

 
94

 
157

Real estate 1-4 family junior lien mortgage
4

 
8

 
8

 
15

Credit card
14

 
13

 
27

 
26

Automobile
3

 
3

 
6

 
7

Other revolving credit and installment
1

 
—

 
2

 
—

Total consumer
64

 
102

 
137

 
205

Total
$
152

 
139

 
257

 
301
Purchased Credit Impaired Loans, Loans Outstanding
The following table presents PCI loans net of any remaining purchase accounting adjustments. Real estate 1-4 family first mortgage PCI loans are predominantly Pick-a-Pay loans.
(in millions)
Jun 30,
2015

 
Dec 31,
2014

Commercial:
 
 
 
Commercial and industrial
$
86

 
75

Real estate mortgage
681

 
1,261

Real estate construction
106

 
171

Total commercial
873

 
1,507

Consumer:
 
 
 
Real estate 1-4 family first mortgage
20,601

 
21,712

Real estate 1-4 family junior lien mortgage
81

 
101

Total consumer
20,682

 
21,813

Total PCI loans (carrying value)
$
21,555

 
23,320

Total PCI loans (unpaid principal balance)
$
30,369

 
32,924
Purchased Credit Impaired Loans, Accretable Yield
The change in the accretable yield related to PCI loans since the merger with Wachovia is presented in the following table.
 
(in millions)
 
Balance, December 31, 2008  
$
10,447

Addition of accretable yield due to acquisitions  
132

Accretion into interest income (1)
(12,783
)
Accretion into noninterest income due to sales (2)
(430
)
Reclassification from nonaccretable difference for loans with improving credit-related cash flows  
8,568

Changes in expected cash flows that do not affect nonaccretable difference (3)
11,856

Balance, December 31, 2014  
17,790

Addition of accretable yield due to acquisitions  
—

Accretion into interest income (1)
(764
)
Accretion into noninterest income due to sales (2)
(28
)
Reclassification from nonaccretable difference for loans with improving credit-related cash flows  
30

Changes in expected cash flows that do not affect nonaccretable difference (3)
(58
)
Balance, June 30, 2015  
$
16,970

  
  
Balance, March 31, 2015
$
17,325

Addition of accretable yield due to acquisitions  
—

Accretion into interest income (1)
(366
)
Accretion into noninterest income due to sales (2)
—

Reclassification from nonaccretable difference for loans with improving credit-related cash flows  
8

Changes in expected cash flows that do not affect nonaccretable difference (3)
3

Balance, June 30, 2015
$
16,970

(1)
Includes accretable yield released as a result of settlements with borrowers, which is included in interest income.
(2)
Includes accretable yield released as a result of sales to third parties, which is included in noninterest income.
(3)
Represents changes in cash flows expected to be collected due to the impact of modifications, changes in prepayment assumptions, changes in interest rates on variable rate PCI loans and sales to third parties.
Purchased Credit Impaired Loans, Allowance for Credit Losses
The following table summarizes the changes in allowance for PCI loan losses since the merger with Wachovia. 
(in millions)
Commercial

 
Pick-a-Pay

 
Other
consumer

 
Total

December 31, 2008
$
—

 
—

 
—

 
—

Provision for loan losses
1,629

 
—

 
104

 
1,733

Charge-offs
(1,618
)
 
—

 
(104
)
 
(1,722
)
Balance, December 31, 2014
11

 
—

 
—

 
11

Provision for loan losses
5

 
—

 
—

 
5

Charge-offs
(9
)
 
—

 
—

 
(9
)
Balance, June 30, 2015
$
7

 
—

 
—

 
7

 
 
 
 
 
 
 
 
Balance, March 31, 2015
$
9

 
—

 
—

 
9

Provision for loan losses
—

 
—

 
—

 
—

Charge-offs
(2
)
 
—

 
—

 
(2
)
Balance, June 30, 2015
$
7

 
—

 
—

 
7
Purchased Credit Impaired Loans by Credit Quality Indicator
The following table provides a breakdown of commercial PCI loans by risk category.
 
(in millions)
Commercial
and
industrial

 
Real
estate
mortgage

 
Real
estate
construction

 
Total

June 30, 2015
 
 
 
 
 
 
 
By risk category:
 
 
 
 
 
 
 
Pass
$
25

 
397

 
75

 
497

Criticized
61

 
284

 
31

 
376

Total commercial PCI loans
$
86

 
681


106


873

December 31, 2014
 
 
 
 
 
 
 
By risk category:
 
 
 
 
 
 
 
Pass
$
21

 
783

 
118

 
922

Criticized
54

 
478

 
53

 
585

Total commercial PCI loans
$
75

 
1,261

 
171

 
1,507
Purchased Credit Impaired Loans by Delinquency Status, Commercial
The following table provides past due information for commercial PCI loans.
(in millions)
Commercial
and
industrial

 
Real
estate
mortgage

 
Real
estate
construction

 
Total

June 30, 2015
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
Current-29 DPD and still accruing
$
85

 
609

 
105

 
799

30-89 DPD and still accruing
—

 
10

 
—

 
10

90+ DPD and still accruing
1

 
62

 
1

 
64

Total commercial PCI loans
$
86

 
681

 
106

 
873

December 31, 2014
 
 
 
 
 
 
 
By delinquency status:
 
 
 
 
 
 
 
Current-29 DPD and still accruing
$
75

 
1,135

 
161

 
1,371

30-89 DPD and still accruing
—

 
48

 
5

 
53

90+ DPD and still accruing
—

 
78

 
5

 
83

Total commercial PCI loans
$
75

 
1,261

 
171

 
1,507
Purchased Credit Impaired Loans by Delinquency Status, Consumer
The following table provides the delinquency status of consumer PCI loans.
 
  
June 30, 2015
 
 
December 31, 2014
 
(in millions)
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Total

 
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Total

By delinquency status:
 
 
 
 
 
 
 
 
 
 
 
Current-29 DPD and still accruing
$
18,860

 
216

 
19,076

 
19,236

 
168

 
19,404

30-59 DPD and still accruing
1,783

 
7

 
1,790

 
1,987

 
7

 
1,994

60-89 DPD and still accruing
804

 
4

 
808

 
1,051

 
3

 
1,054

90-119 DPD and still accruing
302

 
2

 
304

 
402

 
2

 
404

120-179 DPD and still accruing
345

 
3

 
348

 
440

 
3

 
443

180+ DPD and still accruing
3,502

 
15

 
3,517

 
3,654

 
83

 
3,737

Total consumer PCI loans (adjusted unpaid principal balance)
$
25,596

 
247

 
25,843

 
26,770

 
266

 
27,036

Total consumer PCI loans (carrying value)
$
20,601

 
81

 
20,682

 
21,712

 
101

 
21,813
Purchased Credit Impaired Loans by FICO Score, Consumer
The following table provides FICO scores for consumer PCI loans.
 
June 30, 2015
 
 
December 31, 2014
 
(in millions)
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Total

 
Real estate
1-4 family
first
mortgage

 
Real estate
1-4 family
junior lien
mortgage

 
Total

By FICO:
 
 
 
 
 
 
 
 
 
 
 
< 600
$
6,970

 
72

 
7,042

 
7,708

 
75

 
7,783

600-639
5,048

 
38

 
5,086

 
5,416

 
53

 
5,469

640-679
6,467

 
51

 
6,518

 
6,718

 
69

 
6,787

680-719
4,167

 
43

 
4,210

 
4,008

 
39

 
4,047

720-759
1,758

 
23

 
1,781

 
1,728

 
13

 
1,741

760-799
875

 
11

 
886

 
875

 
6

 
881

800+
222

 
2

 
224

 
220

 
1

 
221

No FICO available
89

 
7

 
96

 
97

 
10

 
107

Total consumer PCI loans (adjusted unpaid principal balance)
$
25,596

 
247

 
25,843

 
26,770

 
266

 
27,036

Total consumer PCI loans (carrying value)
$
20,601

 
81

 
20,682

 
21,712

 
101

 
21,813
Purchased Credit Impaired Loans by Loan to Value Ratio, Consumer
The following table shows the distribution of consumer PCI loans by LTV for real estate 1-4 family first mortgages and by CLTV for real estate 1-4 family junior lien mortgages. 
 
June 30, 2015
 
 
December 31, 2014
 
(in millions)
Real estate
1-4 family
first
mortgage
by LTV

 
Real estate
1-4 family
junior lien
mortgage
by CLTV

 
Total

 
Real estate
1-4 family
first
mortgage
by LTV

 
Real estate
1-4 family
junior lien
mortgage
by CLTV

 
Total

By LTV/CLTV:
 
 
 
 
 
 
 
 
 
 
 
0-60%
$
4,558

 
28

 
4,586

 
4,309

 
34

 
4,343

60.01-80%
10,443

 
66

 
10,509

 
11,264

 
71

 
11,335

80.01-100%
7,374

 
83

 
7,457

 
7,751

 
92

 
7,843

100.01-120% (1)
2,349

 
46

 
2,395

 
2,437

 
44

 
2,481

> 120% (1)
866

 
22

 
888

 
1,000

 
24

 
1,024

No LTV/CLTV available
6

 
2

 
8

 
9

 
1

 
10

Total consumer PCI loans (adjusted unpaid principal balance)
$
25,596

 
247

 
25,843

 
26,770

 
266

 
27,036

Total consumer PCI loans (carrying value)
$
20,601

 
81

 
20,682

 
21,712

 
101

 
21,813

(1)
Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV.