Loans held for investment are reported at the amount of their outstanding principal, net of charge-offs, unearned income, deferred loan origination fees and costs, and unamortized premiums or discounts on purchased loans.

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, automobile, education and other retail.

The following table presents the Company’s loans and leases disclosed in portfolio segments and classes:



(in millions)	June 30, 2020		December 31, 2019
Commercial⁽¹⁾⁽²⁾		$48,017		$41,479
Commercial real estate	14,485		13,522
Leases	2,428		2,537
Total commercial loans and leases	64,930		57,538
Residential mortgages	19,245		19,083
Home equity	12,541		13,154
Automobile	12,028		12,120
Education	10,591		10,347
Other retail	6,378		6,846
Total retail loans⁽³⁾	60,783		61,550
Total loans and leases⁽⁴⁾		$125,713		$119,088

⁽²⁾SBA loans serviced for others of $45 million and $33 million at June 30, 2020 and December 31, 2019, respectively, are not included above. These loans represent the government guaranteed portion of SBA loans sold to outside investors.

⁽³⁾Mortgage loans serviced for others of $79.9 billion and $77.5 billion at June 30, 2020 and December 31, 2019, respectively, are not included above.

⁽⁴⁾ LHFS, at fair value of $3.6 billion and $1.9 billion at June 30, 2020 and December 31, 2019, respectively, and other LHFS of $1.4 billion at June 30, 2020 and December 31, 2019, are not included above.

Accrued interest receivable on loans and leases held for investment totaled $530 million and $495 million as of June 30, 2020 and December 31, 2019, respectively, and is included in other assets in the Consolidated Balance Sheets.



	June 30, 2020								December 31, 2019
(in millions)	Residential Mortgages⁽¹⁾		Commercial⁽²⁾		Education⁽³⁾		Total		Residential Mortgages⁽¹⁾		Commercial⁽²⁾		Total
Loans held for sale at fair value		$3,449		$182		$—		$3,631		$1,778		$168		$1,946
Other loans held for sale	—		426		936		1,362		1,101		283		1,384

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

⁽³⁾Education other LHFS represents a loan portfolio sale expected to settle in third quarter 2020.

Loans pledged as collateral for FHLB borrowed funds, primarily residential mortgages and home equity loans, totaled $25.5 billion and $25.3 billion at June 30, 2020 and December 31, 2019, respectively. Loans pledged as collateral to support the contingent ability to borrow at the FRB discount window, were primarily comprised of auto, commercial, commercial real estate, and education loans, and totaled $40.9 billion and $17.4 billion at June 30, 2020 and December 31, 2019, respectively.

During the three months ended June 30, 2020, the Company purchased $691 million of education loans and $255 million of other retail loans. During the three months ended June 30, 2019, the Company purchased $99 million of education loans. During the six months ended June 30, 2020, the Company purchased $909 million of education loans and $527 million of other retail loans. During the six months ended June 30, 2019, the Company purchased $300 million of education loans.

The Company sold $71 million of commercial loans during the three months ended June 30, 2020 and sold $492 million of residential mortgage loans during the three months ended June 30, 2019. During the six months ended June 30, 2020, the Company sold $262 million of commercial loans and $1.5 billion of retail loans. During the six months ended June 30, 2019 the Company sold $182 million of commercial loans and $628 million of retail loans, including $22 million of retail TDRs.