Credit Risk (Tables)

3 Months Ended

Mar. 31, 2014

Credit Risk

Schedule of information regarding the total loan servicing portfolio

	March 31,			December 31,
	2014			2013
	(In millions)
Loan Servicing Portfolio Composition
Owned	$	128,813		$	130,494
Subserviced	96,931			96,343
Total	$	225,744		$	226,837
Conventional loans	$	191,418		$	191,916
Government loans	28,762			29,200
Home equity lines of credit	5,564			5,721
Total	$	225,744		$	226,837
Weighted-average interest rate	4.0		%	4.0		%

Schedule of portfolio delinquency

	March 31, 2014				December 31, 2013
	Number of Loans		Unpaid Balance		Number of Loans		Unpaid Balance
Portfolio Delinquency(1)
30 days	1.95	%	1.48	%	2.43	%	1.82	%
60 days	0.64	%	0.51	%	0.83	%	0.62	%
90 or more days	0.98	%	0.80	%	1.08	%	0.90	%
Total	3.57	%	2.79	%	4.34	%	3.34	%
Foreclosure/real estate owned(2)	2.44	%	2.32	%	2.46	%	2.36	%

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(1)	Represents portfolio delinquencies as a percentage of the total number of loans and the total unpaid balance of the portfolio.
(2)	As of March 31, 2014 and December 31, 2013, the total servicing portfolio included 24,272 and 24,892 of loans in foreclosure with an unpaid principal balance of $4.6 billion and $4.7 billion, respectively.

Summary of the activity in repurchase and foreclosure-related reserves

	Three Months Ended
	March 31,
	2014		2013
	(In millions)
Balance, beginning of period	$	142	$	191
Realized losses	(24)		(17		)
Increase in reserves due to:
Changes in assumptions	—		15
New loan sales	2		5
Balance, end of period	$	120	$	194

Schedule of carrying values of the mortgage loans in foreclosure and real estate owned

	March 31,		December 31,
	2014		2013
	(In millions)
Mortgage loans in foreclosure(1)	$	185	$	192
Allowance for probable foreclosure losses	(20)		(20)
Mortgage loans in foreclosure, net	$	165	$	172
Real estate owned	$	75	$	73
Adjustment to value for real estate owned	(20)		(22)
Real estate owned, net	$	55	$	51

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(1) Includes $113 million and $118 million of recoverable advances as of March 31, 2014 and December 31, 2013, respectively.