XML 77 R35.htm IDEA: XBRL DOCUMENT v3.2.0.727
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets consisted of the following:
 
June 30, 2015
 
December 31, 2014
 
(in millions)
Mortgage servicing rights
$
158

 
$
159

Purchased credit card relationships
44

 
47

Total intangible assets
$
202

 
$
206

Fair Value of Residential MSRs
The following table summarizes the critical assumptions used to calculate the fair value of MSRs:
 
June 30, 2015
 
December 31, 2014
Annualized constant prepayment rate ("CPR")
14.2
%
 
15.9
%
Constant discount rate
13.1
%
 
14.1
%
Weighted average life (in years)
4.5

 
4.1

Residential MSRs Activity
The following table summarizes MSRs activity:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
(in millions)
Fair value of MSRs:
 
 
 
 
 
 
 
Beginning balance
$
140

 
$
205

 
$
159

 
$
227

Changes in fair value due to changes in valuation model inputs or assumptions
19

 
(12
)
 
8

 
(24
)
Reductions related to customer payments
(1
)
 
(7
)
 
(9
)
 
(17
)
     Ending balance
$
158

 
$
186

 
$
158

 
$
186