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Commitments, Contingencies, Guarantees, and Others (Tables)
 3 Months Ended
Mar. 31, 2016
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 March 31, 2016 and December 31, 2015:
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)
 
March 31,
2016
 
December 31,
2015
 
Total
 
2008
 
2007
 
2006
 
2005
GSEs
 
$
2

 
$
2

 
$
11

 
$
1

 
$
4

 
$
3

 
$
3

Insured Securitizations
 
3

 
4

 
20

 
0

 
2

 
8

 
10

Uninsured Securitizations and Other
 
14

 
14

 
80

 
3

 
15

 
30

 
32

Total
 
$
19

 
$
20

 
$
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, 2014
 
$
16

 
$
649

 
$
1,847

 
$
2,512

Gross new demands received
 
23

 
0

 
23

 
46

Loans repurchased/made whole
 
(17
)
 
0

 
(1
)
 
(18
)
Demands rescinded
 
(21
)
 
(115
)
 
(1,054
)
 
(1,190
)
Open claims as of December 31, 2015
 
1

 
534

 
815

 
1,350

Gross new demands received
 
8

 
0

 
5

 
13

Loans repurchased/made whole
 
(1
)
 
0

 
0

 
(1
)
Demands rescinded
 
(2
)
 
0

 
0

 
(2
)
Open claims as of March 31, 2016
 
$
6

 
$
534

 
$
820

 
$
1,360

__________
(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all timely repurchase-related requests ever received by our subsidiaries where the requesting party has not formally rescinded the repurchase-related request or our subsidiary has not agreed to either repurchase the loan at issue or make the requesting party whole with respect to its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 The demands rescinded in 2015 reflect the ruling from New York’s highest court in June 2015 that the statute of limitations for repurchase claims begins when the relevant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 months ended March 31, 2016 and 2015:
Table 14.3: Changes in Representation and Warranty Reserve(1)
 
 
Three Months Ended March 31,
(Dollars in millions)
 
2016
 
2015
Representation and warranty reserve, beginning of period
 
$
610

 
$
731

Provision (benefit) for mortgage representation and warranty losses:
 
 
 
 
Recorded in continuing operations
 
(1
)
 
1

Recorded in discontinued operations
 
3

 
(19
)
Total provision (benefit) for mortgage representation and warranty losses
 
2

 
(18
)
Net realized recoveries (losses)
 
1

 
(40
)
Representation and warranty reserve, end of period
 
$
613

 
$
673

__________
(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 of March 31, 2016 and 2015:
Table 14.4: Allocation of Representation and Warranty Reserve
 
 
Reserve Liability
 
Loans Sold
2005 to 2008(1)
(Dollars in millions, except for loans sold)
 
March 31,
2016
 
December 31,
2015
 
Selected period-end data:
 
 
 
 
 
 
Active Insured Securitizations and GSEs
 
$
482

 
$
480

 
$
27

Inactive Insured Securitizations and Others
 
131

 
130

 
84

Total(2)
 
$
613

 
$
610

 
$
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.