Loan Servicing (Tables)

12 Months Ended

Dec. 31, 2014

Loan Servicing

Summary of Residential Mortgage Loans Managed or Securitized, Servicing Portfolio Information and Related Data

		December 31,
		2014		2013
		(Dollars in millions)
Mortgage loans managed or securitized		$	27,001	$	27,349
Home equity loans managed (excludes home equity lines)			6,741		8,329
Total mortgage and home equity loans managed or securitized			33,742		35,678
Less:
	LHFS		1,317		1,116
	Mortgage loans acquired from FDIC		668		802
	Mortgage loans sold with recourse		667		783
Mortgage loans held for investment		$	31,090	$	32,977
UPB of mortgage loan servicing portfolio		$	115,476	$	112,835
UPB of home equity loan servicing portfolio			6,781		8,386
UPB of residential mortgage and home equity loan servicing portfolio		$	122,257	$	121,221
UPB of residential mortgage loans serviced for others (primarily agency
	conforming fixed rate)	$	90,230	$	87,434
Maximum recourse exposure from mortgage loans sold with recourse liability			344		372
Indemnification, recourse and repurchase reserves			94		72
FHA-insured mortgage loan reserve			85		―

		As Of / For The
		Year Ended December 31,
		2014			2013			2012
		(Dollars in millions)
UPB of residential mortgage loans sold from the LHFS portfolio		$	13,400		$	28,900		$	25,640
Pre-tax gains recognized on mortgage loans sold and held for sale			110			292			539
Servicing fees recognized from mortgage loans serviced for others			275			259			247
Approximate weighted average servicing fee on the outstanding balance
	of residential mortgage loans serviced for others		0.29	%		0.30	%		0.32	%
Weighted average interest rate on mortgage loans serviced for others			4.20			4.24			4.59

Analysis of Activity in Residential MSRs

			Year Ended December 31,
			2014		2013		2012
			(Dollars in millions)
Carrying value, January 1,			$	1,047	$	627	$	563
	Additions			141		336		270
	Change in fair value due to changes in valuation inputs or assumptions:
		Prepayment speeds		(219)		287		19
		Weighted average OAS		―		(31)		(36)
		Servicing costs		(2)		(29)		(22)
	Realization of expected net servicing cash flows, passage of time and other			(123)		(143)		(167)
Carrying value, December 31,			$	844	$	1,047	$	627
Gains (losses) on derivative financial instruments used to mitigate the
	income statement effect of changes in fair value		$	251	$	(197)	$	128

Residential MSRs Sensitivity

			December 31, 2014							December 31, 2013
			Range				Weighted			Range				Weighted
			Min		Max		Average			Min		Max		Average
			(Dollars in millions)
Prepayment speed			10.8	%	12.8	%		12.0	%	5.5	%	8.0	%		6.9	%
	Effect on fair value of a 10% increase						$	(30)						$	(33)
	Effect on fair value of a 20% increase							(58)							(64)
OAS			9.1	%	9.9	%		9.3	%	9.1	%	9.9	%		9.3	%
	Effect on fair value of a 10% increase						$	(26)						$	(39)
	Effect on fair value of a 20% increase							(50)							(75)
Composition of loans serviced for others:
	Fixed-rate residential mortgage loans							99.4	%						99.7	%
	Adjustable-rate residential mortgage loans							0.6							0.3
		Total						100.0	%						100.0	%
Weighted average life								5.7	yrs						7.9	yrs

Summary of Commercial Mortgage Banking Activities

		December 31,
		2014		2013
		(Dollars in millions)
UPB of CRE mortgages serviced for others		$	27,599	$	28,095
CRE mortgages serviced for others covered by recourse provisions			4,264		4,594
Maximum recourse exposure from CRE mortgages
	sold with recourse liability		1,278		1,320
Recorded reserves related to recourse exposure			7		9
Originated CRE mortgages during the year			5,265		4,881