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Receivables Held for Sale - Summary of Activity in Receivables Held for Sale (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Receivables Held for Sale, Activity [Roll Forward]        
Receivables held for sale at beginning of period [1]     $ 8,265  
Receivables held for sale at end of period [1] $ 3,796   3,796  
Mortgage Loans on Real Estate [Member]        
Receivables Held for Sale, Activity [Roll Forward]        
Receivables held for sale at beginning of period 8,185 $ 1,097 8,265 $ 860
Transfer of real estate secured receivables into held for sale at the lower of amortized cost or fair value [2],[3] 63 9,706 293 10,002
Real estate secured receivable sales (4,219) (301) (4,219) (301)
Lower of amortized cost or fair value adjustment on receivables held for sale (54) (54) (105) (71)
Carrying value of real estate secured receivables held for sale transferred to REO (20) (22) (34) (46)
Carrying value of real estate secured receivables held for sale settled through short sale (10) (15) (18) (26)
Change in real estate secured receivable balance, including collections (149) (101) (386) (108)
Receivables held for sale at end of period [4] $ 3,796 $ 10,310 $ 3,796 $ 10,310
[1] The receivable balances included in this table reflect the principal amount outstanding on the loan net of any charge-off recorded in accordance with our existing charge-off policies but exclude any basis adjustments to the loan such as unearned income, unamortized deferred fees and costs on originated loans, purchase accounting fair value adjustments and premiums or discounts on purchased receivables. Additionally, the balances in this table related to receivables which have been classified as held for sale have been reduced by the lower of amortized cost or fair value adjustment recorded as well as the credit loss reserves associated with these receivables prior to the transfer.
[2] Amount includes any accrued interest associated with the receivable.
[3] The initial lower of amortized cost or fair value adjustment on receivables transferred into held for sale during the three and six months ended June 30, 2016 totaled $8 million and $25 million, respectively. During the three and six months ended June 30, 2015, there was $220 million initial lower of amortized cost or fair value adjustment on receivables transferred to held for sale.
[4] Real estate secured receivables held for sale in the table above are presented net of the valuation allowance.