Quarterly report pursuant to Section 13 or 15(d)

Mortgage Servicing Rights (Details)

v2.4.0.6
Mortgage Servicing Rights (Details) (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Commercial and Residential Reverse Mortgage [Member]
Dec. 31, 2011
Commercial and Residential Reverse Mortgage [Member]
Servicing Assets at Fair Value [Line Items]            
Servicing Asset at Amortized Cost         $ 172,000,000 $ 132,000,000
Activity for residential first mortgage MSRs            
Balance, January 1 7,589,000,000 15,282,000,000 7,378,000,000 14,900,000,000    
Additions 91,000,000 410,000,000 168,000,000 1,251,000,000    
Sales (98,000,000) [1] (234,000,000) [1] (98,000,000) (234,000,000)    
Impact of customer payments (282,000,000) [2] (639,000,000) [2] (803,000,000) [2] (1,345,000,000) [2]    
Impact of changes in interest rates and other market factors (1,717,000,000) [3] (1,094,000,000) [3] (742,000,000) [3] (385,000,000) [3]    
Model and other cash flow assumption changes:            
Projected cash flows, primarily due to increases in cost to service loans 666,000,000 [4],[5] (1,501,000,000) [4],[5] 393,000,000 [4],[5] (2,029,000,000) [4],[5]    
Impact of changes in the Home Price Index 5,000,000 [5] 212,000,000 [5] 20,000,000 [5] 434,000,000 [5]    
Impact of changes to the prepayment model 342,000,000 [5] 303,000,000 [5] 342,000,000 [5] 126,000,000 [5]    
Other model changes (888,000,000) [5] (367,000,000) [5] (950,000,000) [5] (346,000,000) [5]    
Balance, June 30 5,708,000,000 12,372,000,000 5,708,000,000 12,372,000,000    
Mortgage loans serviced for investors (in billions) $ 1,224,000,000,000 $ 1,578,000,000,000 $ 1,224,000,000,000 $ 1,578,000,000,000    
[1] Issuances represent loan originations and mortgage servicing rights retained following securitizations or whole loan sales.
[2] Represents the change in the market value of the MSR asset due to the impact of customer payments received during the period.
[3] These amounts reflect the changes in modeled MSR fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve.
[4] As part of the MSR fair value estimation process, the Corporation increased its estimated cost to service during 2011 due to higher costs expected from foreclosure delays and procedures, the implementation of various loan modification programs, and compliance with new banking regulations. During 2012, the Corporation has continued to refine its estimates of cost to service and ancillary income to be consistent with market participants' view which resulted in a decrease to the estimated cost to service.
[5] These amounts reflect periodic adjustments to the valuation model as well as changes in certain cash flow assumptions such as cost to service and ancillary income per loan.