LOANS AND LEASES (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Schedule of loans and leases

The Company’s loans and leases are disclosed in portfolio segments and classes as reflected below.

(in millions)	September 30, 2019		December 31, 2018
Commercial(1)		$41,356		$40,857
Commercial real estate	12,820		13,023
Leases	2,557		2,903
Total commercial loans and leases	56,733		56,783
Residential mortgages	19,699		18,978
Home equity loans	876		1,073
Home equity lines of credit	12,148		12,710
Home equity loans serviced by others	318		399
Home equity lines of credit serviced by others	81		104
Automobile	12,070		12,106
Education	9,729		8,900
Credit cards	2,133		1,991
Other retail	4,093		3,616
Total retail loans(2)	61,147		59,877
Total loans and leases(3)		$117,880		$116,660

⁽¹⁾ SBA loans we service for others of $27 million are not included above. These loans represent the government guaranteed portion of SBA loans sold to outside investors as of September 30, 2019. There were no SBA loans serviced for others as of December 31, 2018.

⁽²⁾ Mortgage loans we service for others of $74.6 billion and $69.6 billion at September 30, 2019 and December 31, 2018, respectively, are not included above.

⁽³⁾  LHFS totaling $2.0 billion and $1.3 billion at September 30, 2019 and December 31, 2018, respectively, are not included above.

The following table shows the composition of LHFS.

	September 30, 2019						December 31, 2018
(in millions)	Residential Mortgages(1)		Commercial(2)		Total		Residential Mortgages(1)		Commercial(2)		Total
Loans held for sale at fair value		$1,824		$169		$1,993		$967		$252		$1,219
Other loans held for sale	—		22		22		—		101		101

⁽¹⁾ Originated for sale.

⁽²⁾ LHFS at fair value consist of loans managed by the Company’s commercial secondary loan desk. Other LHFS generally consist of commercial loans associated with the Company’s syndication business.

Components of net investments in direct finance leases

The components of the net investment in direct finance leases, before ALLL, are presented below:

(in millions)	September 30, 2019
Total future minimum lease rentals		$1,670
Estimated residual value of leased equipment (non-guaranteed)	1,072
Initial direct costs	10
Unearned income	(232		)
Total leases		$2,520

Maturity analysis of direct financing lease receivables

A maturity analysis of direct financing lease receivables at September 30, 2019 is presented below:

(in millions)
2019		$123
2020	460
2021	343
2022	265
2023	188
Thereafter	291
Total undiscounted future minimum lease rentals		$1,670