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Commitments, Contingencies, Guarantees, and Others (Tables)
 9 Months Ended
Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser
The following table presents the original principal balance of mortgage loan originations, by vintage for 2005 through 2008, for the three general categories of purchasers of mortgage loans and the estimated unpaid principal balance as of September 30, 2015 and December 31, 2014:
Table 14.1: Unpaid Principal Balance of Mortgage Loans Originated and Sold to Third Parties Based on Category of Purchaser
 
 
Estimated Unpaid Principal Balance
 
Original Principal Balance
(Dollars in billions)
 
September 30, 2015
 
December 31, 2014
 
Total
 
2008
 
2007
 
2006
 
2005
GSEs
 
$
2

 
$
3

 
$
11

 
$
1

 
$
4

 
$
3

 
$
3

Insured Securitizations
 
4

 
4

 
20

 
0

 
2

 
8

 
10

Uninsured Securitizations and Other
 
14

 
16

 
80

 
3

 
15

 
30

 
32

Total
 
$
20

 
$
23

 
$
111

 
$
4

 
$
21

 
$
41

 
$
45
Schedule of Open Claims in Pipeline
The following table presents information on pending repurchase-related requests by counterparty category and timing of initial request. The amounts presented are based on original loan principal balances.
Table 14.2: Open Pipeline All Vintages (all entities)(1)
(Dollars in millions)
 
GSEs
 
Insured
Securitizations
 
Uninsured
Securitizations
and Other
 
Total
Open claims as of December 31, 2013
 
$
89

 
$
1,614

 
$
1,122

 
$
2,825

Gross new demands received
 
22

 
0

 
742

 
764

Loans repurchased/made whole
 
(31
)
 
0

 
(5
)
 
(36
)
Demands rescinded
 
(64
)
 
(965
)
 
(12
)
 
(1,041
)
Open claims as of December 31, 2014
 
16

 
649

 
1,847

 
2,512

Gross new demands received
 
21

 
0

 
22

 
43

Loans repurchased/made whole
 
(14
)
 
0

 
(1
)
 
(15
)
Demands rescinded
 
(15
)
 
(106
)
 
(754
)
 
(875
)
Open claims as of September 30, 2015
 
$
8

 
$
543

 
$
1,114

 
$
1,665

__________
(1) 
The open pipeline includes all timely repurchase-related requests ever received by our subsidiaries where the requesting party has not formally rescinded the repurchase-related request or our subsidiary has not agreed to either repurchase the loan at issue or make the requesting party whole with respect to its losses. The demands rescinded reflect the June 2015 ruling from New York’s highest court that the statute of limitations for repurchase claims begins when the relevant representations and warranties were made, as opposed to some later date during the life of the loan. Finally, the amounts reflected in this chart are the original principal balance amounts of the mortgage loans at issue and do not correspond to the losses our subsidiary would incur upon the repurchase of these loans.
Schedule of Changes in Representation and Warranty Reserve
The following table summarizes changes in our representation and warranty reserve for the three and nine months ended September 30, 2015 and 2014:
Table 14.3: Changes in Representation and Warranty Reserve(1)
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Dollars in millions)
 
2015
 
2014
 
2015
 
2014
Representation and warranty reserve, beginning of period
 
$
636

 
$
1,012

 
$
731

 
$
1,172

(Benefit) provision for mortgage representation and warranty losses:
 
 
 
 
 
 
 
 
Recorded in continuing operations
 
(7
)
 
0

 
(15
)
 
(15
)
Recorded in discontinued operations
 
3

 
70

 
(43
)
 
34

Total (benefit) provision for mortgage representation and warranty losses
 
(4
)
 
70

 
(58
)
 
19

Net realized losses
 
0

 
(2
)
 
(41
)
 
(111
)
Representation and warranty reserve, end of period
 
$
632

 
$
1,080

 
$
632

 
$
1,080

__________
(1) 
Reported on our consolidated balance sheets as a component of other liabilities.
Schedule of Allocation of Representation and Warranty Reserves
The following table summarizes the allocation of our representation and warranty reserve as September 30, 2015 and December 31, 2014.
Table 14.4: Allocation of Representation and Warranty Reserve
 
 
Reserve Liability
 
Loans Sold
2005 to 2008(1)
(Dollars in millions, except for loans sold)
 
September 30, 2015
 
December 31, 2014
 
Selected period-end data:
 
 
 
 
 
 
GSEs and Active Insured Securitizations
 
$
484

 
$
499

 
$
27

Inactive Insured Securitizations and Others
 
148

 
232

 
84

Total(2)
 
$
632

 
$
731

 
$
111

__________
(1) 
Reflects, in billions, the total original principal balance of loans originated by our subsidiaries and sold to third-party investors between 2005 and 2008.
(2) 
The total reserve liability includes an immaterial amount related to loans that were originated after 2008.