Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consisted of the following:

At December 31,	2016		2015
	(in millions)
Mortgage servicing rights	$	—	$	140
Purchased credit card relationships	34		41
Total intangible assets	$	34	$	181

Fair Value of Residential MSRs

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

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

Residential MSRs Activity

The following table summarizes MSRs activity during 2016 and 2015:

Year Ended December 31,	2016			2015
	(in millions)
Fair value of MSRs:
Beginning balance	$	140		$	159
Changes in fair value due to changes in valuation inputs or assumptions	(27		)	1
Reductions related to customer payments	(17		)	(20		)
Reduction related to sale of MSRs	(96		)	—
Ending balance	$	—		$	140