Other Assets Held for Sale (Tables)

6 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Group Held for Sale

The disposal group held for sale reported in other assets consisted of the following at June 30, 2016:

	Location on Consolidated Balance Sheet Prior to Reclassification to Held for Sale	June 30, 2016
		(in millions)
Mortgage servicing rights	Intangible assets, net	$	104
Servicing advances	Other assets	209
Total assets held for sale		$	313

Fair Value of Residential MSRs

The following table summarizes the critical assumptions used to calculate the fair value of MSRs at December 31, 2015:

	December 31, 2015
Annualized constant prepayment rate	13.8	%
Constant discount rate	12.6	%
Weighted average life (in years)	4.5

The following table summarizes the critical assumptions used to calculate the fair value of MSRs at June 30, 2016:

	June 30, 2016
Annualized constant prepayment rate	18.0	%
Constant discount rate	10.3	%
Weighted average life (in years)	3.7

Rollforward of MSRs

The following table summarizes MSRs activity during the three and six months ended June 30, 2016:

	Three Months Ended June 30, 2016			Six Months Ended June 30, 2016
	(in millions)
Fair value of MSRs:
Beginning balance	$	117		$	140
Changes in fair value due to changes in valuation model inputs or assumptions	(8		)	(24		)
Reductions related to customer payments	(5		)	(12		)
Ending balance	$	104		$	104