Transfers and Servicing of Mortgage Loans (Tables)

6 Months Ended

Jun. 30, 2013

Transfers and Servicing of Mortgage Loans

Schedule of activity in loan servicing portfolio associated with capitalized servicing rights

	Six Months Ended
	June 30,
	2013		2012
	(In millions)
Balance, beginning of period	$	140,381	$	147,088
Additions	13,438		17,445
Payoffs, sales and curtailments	(20,758)		(16,639)
Balance, end of period	$	133,061	$	147,894

Schedule of activity in capitalized MSRs

	Six Months Ended
	June 30,
	2013		2012
	(In millions)
Balance, beginning of period	$	1,022	$	1,209
Additions	145		174
Changes in fair value due to:
Realization of expected cash flows	(157)		(124)
Changes in market inputs or assumptions used in the valuation model	237		(102)
Balance, end of period	$	1,247	$	1,157

Schedule of contractually specified servicing fees, late fees and other ancillary servicing revenue

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In millions)
Servicing fees from capitalized portfolio	$	99	$	111	$	199	$	223
Late fees	4		5		9		10
Other ancillary servicing revenue	9		8		19		20

Schedule of cash flows relating to loan sales in which the Company has continuing involvement

	Six Months Ended
	June 30,
	2013		2012
	(In millions)
Proceeds from new loan sales or securitizations	$	13,805	$	18,149
Servicing fees from capitalized portfolio(1)	199		223
Other cash flows on retained interests (2)	—		5
Purchases of delinquent or foreclosed loans (3)	(37)		(42)
Servicing advances (4)	(562)		(651)
Repayment of servicing advances	569		642

(1) Excludes late fees and other ancillary servicing revenue.

(2) Represents cash flows received on retained interests other than servicing fees.

(3) Excludes indemnification payments to investors and insurers of the related mortgage loans.

(4) As of June 30, 2013 and December 31, 2012, outstanding servicing advance receivables related to our total servicing portfolio of $477 million and $293 million, respectively, were included in Accounts receivable, net.

- Definition

Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes.

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