Finance Receivables (Tables)
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6 Months Ended |
Jun. 30, 2016 |
Receivables [Abstract] |
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Schedule of components of net finance receivables by type |
Components of net finance receivables held for investment by type were as follows: | | | | | | | | | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | SpringCastle Portfolio | | Real Estate Loans | | Retail Sales Finance | | Total | | | | | | | | | | | | June 30, 2016 | | |
| | |
| | |
| | |
| | |
| Gross receivables * | | $ | 15,518 |
| | $ | — |
| | $ | 207 |
| | $ | 17 |
| | $ | 15,742 |
| Unearned finance charges and points and fees | | (2,204 | ) | | — |
| | 1 |
| | (1 | ) | | (2,204 | ) | Accrued finance charges | | 145 |
| | — |
| | 1 |
| | — |
| | 146 |
| Deferred origination costs | | 73 |
| | — |
| | — |
| | — |
| | 73 |
| Total | | $ | 13,532 |
| | $ | — |
| | $ | 209 |
| | $ | 16 |
| | $ | 13,757 |
| | | | | | | | | | | | December 31, 2015 | | |
| | |
| | |
| | |
| | |
| Gross receivables * | | $ | 15,353 |
| | $ | 1,672 |
| | $ | 534 |
| | $ | 25 |
| | $ | 17,584 |
| Unearned finance charges and points and fees | | (2,261 | ) | | — |
| | — |
| | (2 | ) | | (2,263 | ) | Accrued finance charges | | 147 |
| | 31 |
| | 4 |
| | — |
| | 182 |
| Deferred origination costs | | 56 |
| | — |
| | — |
| | — |
| | 56 |
| Total | | $ | 13,295 |
| | $ | 1,703 |
| | $ | 538 |
| | $ | 23 |
| | $ | 15,559 |
|
| | * | Gross receivables are defined as follows: |
| | • | Finance receivables purchased as a performing receivable — gross finance receivables equal the UPB for interest bearing accounts and the gross remaining contractual payments for precompute accounts; additionally, the remaining unearned discount, net of premium established at the time of purchase, is included in both interest bearing and precompute accounts to reflect the finance receivable balance at its initial fair value; |
| | • | Finance receivables originated subsequent to the respective OneMain and Fortress acquisitions — gross finance receivables equal the UPB for interest bearing accounts and the gross remaining contractual payments for precompute accounts; |
| | • | Purchased credit impaired finance receivables — gross finance receivables equal the remaining estimated cash flows less the current balance of accretable yield on the purchased credit impaired accounts; and |
| | • | Troubled debt restructured (“TDR”) finance receivables — gross finance receivables equal the UPB for interest bearing accounts and the gross remaining contractual payments for precompute accounts; additionally, the remaining unearned discount, net of premium established at the time of purchase, is included in both interest bearing and precompute accounts previously purchased as a performing receivable. |
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Schedule of unused credit lines extended to customers by the Company |
Unused lines of credit extended to customers by the Company were as follows: | | | | | | | | | | (dollars in millions) | | June 30, 2016 | | December 31, 2015 | | | | | | Personal loans | | $ | 1 |
| | $ | 2 |
| SpringCastle Portfolio | | — |
| | 365 |
| Real estate loans | | 18 |
| | 30 |
| Total | | $ | 19 |
| | $ | 397 |
|
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Summary of net finance receivables by type and by days delinquent |
The following is a summary of net finance receivables held for investment by type and by number of days delinquent: | | | | | | | | | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | SpringCastle Portfolio | | Real Estate Loans | | Retail Sales Finance | | Total | | | | | | | | | | | | June 30, 2016 | | |
| | |
| | |
| | |
| | |
| Net finance receivables: | | |
| | |
| | |
| | |
| | |
| 60-89 days past due | | $ | 124 |
| | $ | — |
| | $ | 6 |
| | $ | — |
| | $ | 130 |
| 90-119 days past due | | 96 |
| | — |
| | 4 |
| | — |
| | 100 |
| 120-149 days past due | | 81 |
| | — |
| | 3 |
| | — |
| | 84 |
| 150-179 days past due | | 77 |
| | — |
| | 3 |
| | — |
| | 80 |
| 180 days or more past due | | 9 |
| | — |
| | 21 |
| | — |
| | 30 |
| Total delinquent finance receivables | | 387 |
| | — |
| | 37 |
| | — |
| | 424 |
| Current | | 12,975 |
| | — |
| | 162 |
| | 15 |
| | 13,152 |
| 30-59 days past due | | 170 |
| | — |
| | 10 |
| | 1 |
| | 181 |
| Total | | $ | 13,532 |
| | $ | — |
| | $ | 209 |
| | $ | 16 |
| | $ | 13,757 |
| | | | | | | | | | | | December 31, 2015 | | |
| | |
| | |
| | |
| | |
| Net finance receivables: | | |
| | |
| | |
| | |
| | |
| 60-89 days past due | | $ | 127 |
| | $ | 26 |
| | $ | 19 |
| | $ | — |
| | $ | 172 |
| 90-119 days past due | | 97 |
| | 16 |
| | 3 |
| | — |
| | 116 |
| 120-149 days past due | | 58 |
| | 12 |
| | 2 |
| | 1 |
| | 73 |
| 150-179 days past due | | 62 |
| | 11 |
| | 2 |
| | — |
| | 75 |
| 180 days or more past due | | 4 |
| | 1 |
| | 13 |
| | — |
| | 18 |
| Total delinquent finance receivables | | 348 |
| | 66 |
| | 39 |
| | 1 |
| | 454 |
| Current | | 12,777 |
| | 1,588 |
| | 486 |
| | 22 |
| | 14,873 |
| 30-59 days past due | | 170 |
| | 49 |
| | 13 |
| | — |
| | 232 |
| Total | | $ | 13,295 |
| | $ | 1,703 |
| | $ | 538 |
| | $ | 23 |
| | $ | 15,559 |
|
|
Schedule of performing and nonperforming net finance receivables by type |
Our performing and nonperforming net finance receivables held for investment by type were as follows: | | | | | | | | | | | | | | | | | | | | | | (dollars in millions) |
| Personal Loans | | SpringCastle Portfolio | | Real Estate Loans | | Retail Sales Finance | | Total |
|
|
|
| |
|
| |
|
| |
|
| |
|
| June 30, 2016 |
| |
| | |
| | |
| | |
| | |
| Performing |
| $ | 13,269 |
| | $ | — |
| | $ | 178 |
| | $ | 16 |
| | $ | 13,463 |
| Nonperforming |
| 263 |
| | — |
| | 31 |
| | — |
| | 294 |
| Total |
| $ | 13,532 |
| | $ | — |
| | $ | 209 |
| | $ | 16 |
| | $ | 13,757 |
|
|
|
|
| |
|
| |
|
| |
|
| |
|
| December 31, 2015 |
| |
| | |
| | |
| | |
| | |
| Performing |
| $ | 13,074 |
| | $ | 1,663 |
| | $ | 518 |
| | $ | 22 |
| | $ | 15,277 |
| Nonperforming |
| 221 |
| | 40 |
| | 20 |
| | 1 |
| | 282 |
| Total |
| $ | 13,295 |
| | $ | 1,703 |
| | $ | 538 |
| | $ | 23 |
| | $ | 15,559 |
|
|
Schedule of purchased credit impaired finance receivables held for investment and held for sale |
Information regarding our purchased credit impaired finance receivables held for investment and held for sale were as follows: | | | | | | | | | | | | | | | | | | (dollars in millions) | | OM Loans | | SCP Loans | | FA Loans * | | Total | | | | | | | | | | June 30, 2016 | | | | |
| | |
| | |
| Carrying amount, net of allowance | | $ | 445 |
| | $ | — |
| | $ | 85 |
| | $ | 530 |
| Outstanding balance | | 600 |
| | — |
| | 129 |
| | 729 |
| Allowance for purchased credit impaired finance receivable losses | | 29 |
| | — |
| | 8 |
| | 37 |
| | | | | | | | | | December 31, 2015 | | | | |
| | |
| | |
| Carrying amount, net of allowance | | $ | 658 |
| | $ | 350 |
| | $ | 89 |
| | $ | 1,097 |
| Outstanding balance | | 919 |
| | 482 |
| | 136 |
| | 1,537 |
| Allowance for purchased credit impaired finance receivable losses | | — |
| | — |
| | 12 |
| | 12 |
|
| | * | Purchased credit impaired FA Loans held for sale included in the table above were as follows: |
| | | | | | (dollars in millions) | | FA Loans | | | | June 30, 2016 | | |
| Carrying amount | | $ | 68 |
| Outstanding balance | | 103 |
| | | | December 31, 2015 | | |
| Carrying amount | | $ | 59 |
| Outstanding balance | | 89 |
|
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Purchased credit impaired FA Loans held for sale |
| | * | Purchased credit impaired FA Loans held for sale included in the table above were as follows: |
| | | | | | (dollars in millions) | | FA Loans | | | | June 30, 2016 | | |
| Carrying amount | | $ | 68 |
| Outstanding balance | | 103 |
| | | | December 31, 2015 | | |
| Carrying amount | | $ | 59 |
| Outstanding balance | | 89 |
|
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Changes in accretable yield for purchased credit impaired finance receivables held for investment and held for sale |
Changes in accretable yield for purchased credit impaired finance receivables held for investment and held for sale were as follows: | | | | | | | | | | | | | | | | | | (dollars in millions) | | OM Loans | | SCP Loans | | FA Loans | | Total | | | | | | | | | | Three Months Ended June 30, 2016 | | | | |
| | |
| | |
| Balance at beginning of period | | $ | 104 |
| | $ | — |
| | $ | 74 |
| | $ | 178 |
| Accretion (a) | | (17 | ) | | — |
| | (2 | ) | | (19 | ) | Reclassifications to nonaccretable difference (b) | | — |
| | — |
| | (11 | ) | | (11 | ) | Balance at end of period | | $ | 87 |
| | $ | — |
| | $ | 61 |
| | $ | 148 |
| | | | | | | | | | Three Months Ended June 30, 2015 | | | | |
| | |
| | |
| Balance at beginning of period | | $ | — |
| | $ | 431 |
| | $ | 54 |
| | $ | 485 |
| Accretion (a) | | — |
| | (20 | ) | | (2 | ) | | (22 | ) | Reclassifications from nonaccretable difference (b) | | — |
| | — |
| | 1 |
| | 1 |
| Balance at end of period | | $ | — |
| | $ | 411 |
| | $ | 53 |
| | $ | 464 |
| | | | | | | | | | Six Months Ended June 30, 2016 | | | | |
| | |
| | |
| Balance at beginning of period | | $ | 151 |
| | $ | 375 |
| | $ | 66 |
| | $ | 592 |
| Accretion (a) | | (41 | ) | | (16 | ) | | (4 | ) | | (61 | ) | Other (c) | | (23 | ) | | — |
| | — |
| | (23 | ) | Reclassifications to nonaccretable difference (b) | | — |
| | — |
| | (1 | ) | | (1 | ) | Transfer due to finance receivables sold | | — |
| | (359 | ) | | — |
| | (359 | ) | Balance at end of period | | $ | 87 |
| | $ | — |
| | $ | 61 |
| | $ | 148 |
| | | | | | | | | | Six Months Ended June 30, 2015 | | | | |
| | |
| | |
| Balance at beginning of period | | $ | — |
| | $ | 452 |
| | $ | 54 |
| | $ | 506 |
| Accretion (a) | | — |
| | (41 | ) | | (4 | ) | | (45 | ) | Reclassifications from nonaccretable difference (b) | | — |
| | — |
| | 3 |
| | 3 |
| Balance at end of period | | $ | — |
| | $ | 411 |
| | $ | 53 |
| | $ | 464 |
|
| | (a) | Accretion on our purchased credit impaired FA Loans held for sale included in the table above were as follows: |
| | | | | | | | | | | | | | | | | | (dollars in millions) | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2016 | | 2015 | | 2016 | | 2015 | | | | | | | | | | Accretion | | $ | 1 |
| | $ | 2 |
| | $ | 2 |
| | $ | 3 |
|
| | (b) | Reclassifications from (to) nonaccretable difference represents the increases (decreases) in accretion resulting from higher (lower) estimated undiscounted cash flows. |
| | (c) | Other reflects a measurement period adjustment in the first quarter of 2016 based on a change in the expected cash flows in the purchase credit impaired portfolio related to the OneMain Acquisition. The measurement period adjustment created a change of $23 million to the beginning balance of the OM Loans accretable yield. |
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Schedule of Accretion on our purchased credit impaired FA Loans held for sale |
Accretion on our purchased credit impaired FA Loans held for sale included in the table above were as follows: | | | | | | | | | | | | | | | | | | (dollars in millions) | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2016 | | 2015 | | 2016 | | 2015 | | | | | | | | | | Accretion | | $ | 1 |
| | $ | 2 |
| | $ | 2 |
| | $ | 3 |
|
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Schedule of information regarding TDR finance receivables |
Information regarding TDR finance receivables held for investment and held for sale were as follows: | | | | | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans (a) | | SpringCastle Portfolio | | Real Estate Loans (a) | | Total | | | | | | | |
| | | June 30, 2016 | | | | | | |
| | | TDR gross finance receivables (b) | | $ | 88 |
| | $ | — |
| | $ | 201 |
| | $ | 289 |
| TDR net finance receivables | | 88 |
| | — |
| | 202 |
| | 290 |
| Allowance for TDR finance receivable losses | | 36 |
| | — |
| | 12 |
| | 48 |
| | | | | | | |
| | | December 31, 2015 | | | | | | |
| | | TDR gross finance receivables (b) | | $ | 46 |
| | $ | 14 |
| | $ | 200 |
| | $ | 260 |
| TDR net finance receivables | | 46 |
| | 13 |
| | 201 |
| | 260 |
| Allowance for TDR finance receivable losses | | 17 |
| | 4 |
| | 34 |
| | 55 |
|
| | (a) | TDR finance receivables held for sale included in the table above were as follows: |
| | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | Real Estate Loans | | Total | | | | | |
| | | June 30, 2016 | | | | |
| | | TDR gross finance receivables | | $ | — |
| | $ | 154 |
| | $ | 154 |
| TDR net finance receivables | | — |
| | 155 |
| | 155 |
| | | | | |
| | | December 31, 2015 | | | | |
| | | TDR gross finance receivables | | $ | 2 |
| | $ | 92 |
| | $ | 94 |
| TDR net finance receivables | | 2 |
| | 92 |
| | 94 |
|
| | (b) | As defined earlier in this Note. |
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TDR finance receivables held for sale |
TDR finance receivables held for sale included in the table above were as follows: | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | Real Estate Loans | | Total | | | | | |
| | | June 30, 2016 | | | | |
| | | TDR gross finance receivables | | $ | — |
| | $ | 154 |
| | $ | 154 |
| TDR net finance receivables | | — |
| | 155 |
| | 155 |
| | | | | |
| | | December 31, 2015 | | | | |
| | | TDR gross finance receivables | | $ | 2 |
| | $ | 92 |
| | $ | 94 |
| TDR net finance receivables | | 2 |
| | 92 |
| | 94 |
|
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Schedule of TDR average net receivables and finance charges recognized on TDR finance receivables |
TDR average net receivables held for investment and held for sale and finance charges recognized on TDR finance receivables held for investment and held for sale were as follows: | | | | | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans * | | SpringCastle Portfolio | | Real Estate Loans * | | Total | | | | | | | | | | Three Months Ended June 30, 2016 | | |
| | |
| | |
| | |
| TDR average net receivables | | $ | 83 |
| | $ | — |
| | $ | 202 |
| | $ | 285 |
| TDR finance charges recognized | | 2 |
| | — |
| | 3 |
| | 5 |
| | | | | | | | | | Three Months Ended June 30, 2015 | | | | | | | | | TDR average net receivables | | $ | 28 |
| | $ | 12 |
| | $ | 198 |
| | $ | 238 |
| TDR finance charges recognized | | 1 |
| | — |
| | 3 |
| | 4 |
| | | | | | | | | | Six Months Ended June 30, 2016 | | | | | | | | | TDR average net receivables | | $ | 73 |
| | $ | — |
| | $ | 202 |
| | $ | 275 |
| TDR finance charges recognized | | 3 |
| | — |
| | 6 |
| | 9 |
| | | | | | | | | | Six Months Ended June 30, 2015 | | | | | | | | | TDR average net receivables | | $ | 27 |
| | $ | 11 |
| | $ | 196 |
| | $ | 234 |
| TDR finance charges recognized | | 2 |
| | — |
| | 6 |
| | 8 |
|
| | * | TDR finance receivables held for sale included in the table above were as follows: |
| | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | Real Estate Loans | | Total | | | | | | | | Three Months Ended June 30, 2016 | | | | |
| | | TDR average net receivables | | $ | 1 |
| | $ | 112 |
| | $ | 113 |
| TDR finance charges recognized | | — |
| | 2 |
| | 2 |
| | | | | | | | Three Months Ended June 30, 2015 | | | | | | | TDR average net receivables | | $ | — |
| | $ | 91 |
| | $ | 91 |
| TDR finance charges recognized | | — |
| | 1 |
| | 1 |
| | | | | | | | Six Months Ended June 30, 2016 | | | | | | | TDR average net receivables | | $ | 2 |
| | $ | 102 |
| | $ | 104 |
| TDR finance charges recognized | | — |
| | 3 |
| | 3 |
| | | | | | | | Six Months Ended June 30, 2015 | | | | | | | TDR average net receivables | | $ | — |
| | $ | 91 |
| | $ | 91 |
| TDR finance charges recognized | | — |
| | 2 |
| | 2 |
|
|
TDR average net receivables held for sale and finance charges recognized on TDR finance receivables held for sale |
TDR finance receivables held for sale included in the table above were as follows: | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | Real Estate Loans | | Total | | | | | | | | Three Months Ended June 30, 2016 | | | | |
| | | TDR average net receivables | | $ | 1 |
| | $ | 112 |
| | $ | 113 |
| TDR finance charges recognized | | — |
| | 2 |
| | 2 |
| | | | | | | | Three Months Ended June 30, 2015 | | | | | | | TDR average net receivables | | $ | — |
| | $ | 91 |
| | $ | 91 |
| TDR finance charges recognized | | — |
| | 1 |
| | 1 |
| | | | | | | | Six Months Ended June 30, 2016 | | | | | | | TDR average net receivables | | $ | 2 |
| | $ | 102 |
| | $ | 104 |
| TDR finance charges recognized | | — |
| | 3 |
| | 3 |
| | | | | | | | Six Months Ended June 30, 2015 | | | | | | | TDR average net receivables | | $ | — |
| | $ | 91 |
| | $ | 91 |
| TDR finance charges recognized | | — |
| | 2 |
| | 2 |
|
|
Schedule of information regarding new volume of the TDR finance receivables |
Information regarding the new volume of the TDR finance receivables held for investment and held for sale were as follows: | | | | | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans (a) | | SpringCastle Portfolio | | Real Estate Loans (a) | | Total | | | | | | | | | | Three Months Ended June 30, 2016 | | |
| | |
| | |
| | |
| Pre-modification TDR net finance receivables | | $ | 50 |
| | $ | — |
| | $ | 6 |
| | $ | 56 |
| Post-modification TDR net finance receivables: | | | | | | | | | Rate reduction | | $ | 47 |
| | $ | — |
| | $ | 5 |
| | $ | 52 |
| Other (b) | | 2 |
| | — |
| | 1 |
| | 3 |
| Total post-modification TDR net finance receivables | | $ | 49 |
| | $ | — |
| | $ | 6 |
| | $ | 55 |
| Number of TDR accounts | | 6,709 |
| | — |
| | 116 |
| | 6,825 |
| | | | | | | | | | Three Months Ended June 30, 2015 | | | | | | | | | Pre-modification TDR net finance receivables | | $ | 7 |
| | $ | 2 |
| | $ | 6 |
| | $ | 15 |
| Post-modification TDR net finance receivables: | | | | | | | | | Rate reduction | | $ | 3 |
| | $ | 2 |
| | $ | 5 |
| | $ | 10 |
| Other (b) | | 3 |
| | — |
| | 2 |
| | 5 |
| Total post-modification TDR net finance receivables | | $ | 6 |
| | $ | 2 |
| | $ | 7 |
| | $ | 15 |
| Number of TDR accounts | | 1,479 |
| | 213 |
| | 99 |
| | 1,791 |
| | | | | | | | | | Six Months Ended June 30, 2016 | | | | | | | | | Pre-modification TDR net finance receivables | | $ | 100 |
| | $ | 1 |
| | $ | 10 |
| | $ | 111 |
| Post-modification TDR net finance receivables: | | | | | | | | | Rate reduction | | $ | 93 |
| | $ | 1 |
| | $ | 8 |
| | $ | 102 |
| Other (b) | | 5 |
| | — |
| | 2 |
| | 7 |
| Total post-modification TDR net finance receivables | | $ | 98 |
| | $ | 1 |
| | $ | 10 |
| | $ | 109 |
| Number of TDR accounts | | 13,625 |
| | 157 |
| | 205 |
| | 13,987 |
| | | | | | | | | | Six Months Ended June 30, 2015 | | | | | | | | | Pre-modification TDR net finance receivables | | $ | 16 |
| | $ | 4 |
| | $ | 10 |
| | $ | 30 |
| Post-modification TDR net finance receivables: | | | | | | | |
|
| Rate reduction | | $ | 8 |
| | $ | 4 |
| | $ | 9 |
| | $ | 21 |
| Other (b) | | 6 |
| | — |
| | 2 |
| | 8 |
| Total post-modification TDR net finance receivables | | $ | 14 |
| | $ | 4 |
| | $ | 11 |
| | $ | 29 |
| Number of TDR accounts | | 3,343 |
| | 408 |
| | 177 |
| | 3,928 |
|
| | (a) | TDR finance receivables held for sale included in the table above were as follows: |
| | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | Real Estate Loans | | Total | | | | | | | | Three Months Ended June 30, 2016 | | |
| | |
| | |
| Pre-modification TDR net finance receivables * | | $ | — |
| | $ | 1 |
| | $ | 1 |
| Post-modification TDR net finance receivables * | | $ | — |
| | $ | 1 |
| | $ | 1 |
| Number of TDR accounts | | 46 |
| | 32 |
| | 78 |
| | | | | | | | Three Months Ended June 30, 2015 | | | | | | | Pre-modification TDR net finance receivables | | $ | — |
| | $ | 3 |
| | $ | 3 |
| Post-modification TDR net finance receivables | | $ | — |
| | $ | 3 |
| | $ | 3 |
| Number of TDR accounts | | — |
| | 35 |
| | 35 |
| | | | | | | | Six Months Ended June 30, 2016 | | | | | | | Pre-modification TDR net finance receivables * | | $ | — |
| | $ | 2 |
| | $ | 2 |
| Post-modification TDR net finance receivables * | | $ | — |
| | $ | 2 |
| | $ | 2 |
| Number of TDR accounts | | 174 |
| | 51 |
| | 225 |
| | | | | | | | Six Months Ended June 30, 2015 | | | | | | | Pre-modification TDR net finance receivables | | $ | — |
| | $ | 3 |
| | $ | 3 |
| Post-modification TDR net finance receivables | | $ | — |
| | $ | 3 |
| | $ | 3 |
| Number of TDR accounts | | — |
| | 44 |
| | 44 |
|
| | * | Pre- and post-modification TDR personal loans held for sale for the three and six months ended June 30, 2016 were less than $1 million and, therefore, are not quantified in the table above. |
| | (b) | “Other” modifications primarily include forgiveness of principal or interest. |
|
new volume of the TDR finance receivables held for sale |
TDR finance receivables held for sale included in the table above were as follows: | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | Real Estate Loans | | Total | | | | | | | | Three Months Ended June 30, 2016 | | |
| | |
| | |
| Pre-modification TDR net finance receivables * | | $ | — |
| | $ | 1 |
| | $ | 1 |
| Post-modification TDR net finance receivables * | | $ | — |
| | $ | 1 |
| | $ | 1 |
| Number of TDR accounts | | 46 |
| | 32 |
| | 78 |
| | | | | | | | Three Months Ended June 30, 2015 | | | | | | | Pre-modification TDR net finance receivables | | $ | — |
| | $ | 3 |
| | $ | 3 |
| Post-modification TDR net finance receivables | | $ | — |
| | $ | 3 |
| | $ | 3 |
| Number of TDR accounts | | — |
| | 35 |
| | 35 |
| | | | | | | | Six Months Ended June 30, 2016 | | | | | | | Pre-modification TDR net finance receivables * | | $ | — |
| | $ | 2 |
| | $ | 2 |
| Post-modification TDR net finance receivables * | | $ | — |
| | $ | 2 |
| | $ | 2 |
| Number of TDR accounts | | 174 |
| | 51 |
| | 225 |
| | | | | | | | Six Months Ended June 30, 2015 | | | | | | | Pre-modification TDR net finance receivables | | $ | — |
| | $ | 3 |
| | $ | 3 |
| Post-modification TDR net finance receivables | | $ | — |
| | $ | 3 |
| | $ | 3 |
| Number of TDR accounts | | — |
| | 44 |
| | 44 |
|
| | * | Pre- and post-modification TDR personal loans held for sale for the three and six months ended June 30, 2016 were less than $1 million and, therefore, are not quantified in the table above. |
|
Schedule of Troubled Debt Restructurings, Subsequently Defaulted |
Net finance receivables held for investment and held for sale that were modified as TDR finance receivables within the previous 12 months and for which there was a default during the period to cause the TDR finance receivables to be considered nonperforming (90 days or more past due) were as follows: | | | | | | | | | | | | | | | | | | (dollars in millions) | | Personal Loans | | SpringCastle Portfolio | | Real Estate Loans (a) | | Total | | | |
| | | | | | | Three Months Ended June 30, 2016 | | |
| | |
| | | | | TDR net finance receivables (b) | | $ | 4 |
| | $ | — |
| | $ | 1 |
| | $ | 5 |
| Number of TDR accounts | | 640 |
| | — |
| | 19 |
| | 659 |
| | | | | | | | | | Three Months Ended June 30, 2015 | | | | | | | | | TDR net finance receivables (b) (c) | | $ | 2 |
| | $ | 1 |
| | $ | — |
| | $ | 3 |
| Number of TDR accounts | | 457 |
| | 86 |
| | 8 |
| | 551 |
| | | | | | | | | | Six Months Ended June 30, 2016 | | | | | | | | | TDR net finance receivables (b) (d) | | $ | 6 |
| | $ | — |
| | $ | 2 |
| | $ | 8 |
| Number of TDR accounts | | 1,040 |
| | 19 |
| | 39 |
| | 1,098 |
| | | | | | | | | | Six Months Ended June 30, 2015 | | | | | | | | | TDR net finance receivables (b) | | $ | 2 |
| | $ | 1 |
| | $ | 1 |
| | $ | 4 |
| Number of TDR accounts | | 514 |
| | 96 |
| | 26 |
| | 636 |
|
| | (a) | TDR finance receivables held for sale included in the table above were as follows: |
| | | | | | (dollars in millions) | | Real Estate Loans | | | | Three Months Ended June 30, 2016 | | | TDR net finance receivables * | | $ | — |
| Number of TDR accounts | | 12 |
| | | | Three Months Ended June 30, 2015 | | | TDR net finance receivables | | $ | 1 |
| Number of TDR accounts | | 4 |
| | | | Six Months Ended June 30, 2016 | | | TDR net finance receivables | | $ | 1 |
| Number of TDR accounts | | 21 |
| | | | Six Months Ended June 30, 2015 | | | TDR net finance receivables | | $ | 1 |
| Number of TDR accounts | | 13 |
|
| | * | TDR real estate loans held for sale for the three months ended June 30, 2016 that defaulted during the previous 12-month period were less than $1 million and, therefore, are not quantified in the combined table above. |
| | (b) | Represents the corresponding balance of TDR net finance receivables at the end of the month in which they defaulted. |
| | (c) | TDR real estate loans for the three months ended June 30, 2015 that defaulted during the previous 12-month period were less than $1 million and, therefore, are not quantified in the combined table above. |
| | (d) | TDR SpringCastle Portfolio loans for the six months ended June 30, 2016 that defaulted during the previous 12-month period were less than $1 million and, therefore, are not quantified in the combined table above. |
|
Schedule of Trouble Debt Restructurings, Subsequently Defaulted, Held for Sale |
TDR finance receivables held for sale included in the table above were as follows: | | | | | | (dollars in millions) | | Real Estate Loans | | | | Three Months Ended June 30, 2016 | | | TDR net finance receivables * | | $ | — |
| Number of TDR accounts | | 12 |
| | | | Three Months Ended June 30, 2015 | | | TDR net finance receivables | | $ | 1 |
| Number of TDR accounts | | 4 |
| | | | Six Months Ended June 30, 2016 | | | TDR net finance receivables | | $ | 1 |
| Number of TDR accounts | | 21 |
| | | | Six Months Ended June 30, 2015 | | | TDR net finance receivables | | $ | 1 |
| Number of TDR accounts | | 13 |
|
| | * | TDR real estate loans held for sale for the three months ended June 30, 2016 that defaulted during the previous 12-month period were less than $1 million and, therefore, are not quantified in the combined table above. |
|