LOANS AND LEASES

The Company’s loans and leases are disclosed in portfolio segments and classes. The Company’s loan and lease portfolio segments are commercial and retail. The classes of loans and leases are: commercial, commercial real estate, leases, residential mortgages, home equity loans, home equity lines of credit, home equity loans serviced by others, home equity lines of credit serviced by others, automobile, education, credit cards and other retail. The Company’s SBO portfolio consists of purchased home equity loans and lines that were originally serviced by others, which the Company services a portion of internally. A summary of the loans and leases portfolio is presented below:



(in millions)	March 31, 2018		December 31, 2017
Commercial		$38,277		$37,562
Commercial real estate	11,775		11,308
Leases	3,092		3,161
Total commercial loans and leases	53,144		52,031
Residential mortgages	17,346		17,045
Home equity loans	1,298		1,392
Home equity lines of credit	13,190		13,483
Home equity loans serviced by others	504		542
Home equity lines of credit serviced by others	136		149
Automobile	12,794		13,204
Education	8,324		8,134
Credit cards	1,808		1,848
Other retail	2,881		2,789
Total retail loans	58,281		58,586
Total loans and leases ^{(1) (2)}		$111,425		$110,617

⁽¹⁾ Excluded from the table above are loans held for sale totaling $800 million and $718 million as of March 31, 2018 and December 31, 2017, respectively.

⁽²⁾Mortgage loans serviced for others by the Company’s subsidiaries are not included above, and amounted to $20.2 billion and $20.3 billion at March 31, 2018 and December 31, 2017, respectively.

The following tables present balances of loan purchases and sales:



	Three Months Ended March 31, 2018
(in millions)	Education		Automobile		Residential mortgages		Home equity loans		Commercial		Total
Purchases		$—		$—		$—		$—		$200		$200
Sales	—		—		—		—		—		—



	Three Months Ended March 31, 2017
(in millions)	Education		Automobile		Residential mortgages		Home equity loans		Commercial		Total
Purchases		$325		$123		$—		$—		$—		$448
Sales	—		—		—		—		—		—

Loans held for sale at fair value as of March 31, 2018 totaled $478 million and consisted of residential mortgages originated for sale of $289 million and loans in the commercial trading portfolio of $189 million. Loans held for sale at fair value as of December 31, 2017 totaled $497 million and consisted of residential mortgages originated for sale of $326 million and loans in the commercial trading portfolio of $171 million. Other loans held for sale totaled $322 million and $221 million as of March 31, 2018 and December 31, 2017, respectively, and consisted of commercial loans associated with the Company’s syndication business.

Loans pledged as collateral for FHLB borrowed funds, primarily residential mortgages and home equity loans, totaled $25.4 billion and $24.9 billion at March 31, 2018 and December 31, 2017, respectively. Loans pledged as collateral to support the contingent ability to borrow at the FRB discount window, if necessary, was primarily comprised of auto and commercial loans, and totaled $17.8 billion and $18.1 billion at March 31, 2018 and December 31, 2017, respectively.