Mortgage Servicing Assets (Tables)

6 Months Ended

Jun. 30, 2013

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Changes in Carrying Amount of Mortgage Servicing Assets

Changes in the carrying amount of mortgage servicing assets are summarized as follows:

	Six months ended June 30,
in millions	2013			2012
Balance at beginning of period	$	204		$	173
Servicing retained from loan sales		20			20
Purchases		132	(a)		24
Amortization		(26)			(31)
Balance at end of period	$	330		$	186
Fair value at end of period	$	387		$	237

(a) Amount includes $117 million in mortgage servicing assets that were acquired from Bank of America’s Global Mortgages & Securitized Products business on June 24, 2013. See Note 11 (“Acquisitions and Discontinued Operations”) for further details regarding this acquisition.

Schedule of Range and Weighted-Average of Significant Unobservable Inputs

The range and weighted-average of the significant unobservable inputs used to fair value our mortgage servicing assets during the second quarter of 2013 and 2012, along with the valuation techniques, are shown in the following table:

June 30, 2013 dollars in millions	Valuation Technique	Significant Unobservable Input	Range (Weighted-Average)
Mortgage servicing assets	Discounted cash flow	Prepayment speed	0.00 - 25.00% (8.00%)
		Expected defaults	1.10 - 3.00% (2.30%)
		Residual cash flows discount rate	7.00 - 15.00% (8.90%)
		Value assigned to escrow funds	0.25 - 2.75% (1.50%)
		Servicing cost	150 - 23,018 (5,425)
		Loan assumption rate	0.00 - 3.00% (2.38%)
		Percentage late	0.00 - 2.00% (0.21%)
June 30, 2012 dollars in millions	Valuation Technique	Significant Unobservable Input	Range (Weighted-Average)
Mortgage servicing assets	Discounted cash flow	Prepayment speed	0.00 - 25.00% (11.70%)
		Expected defaults	1.00 - 3.00% (2.40%)
		Residual cash flows discount rate	7.00 - 15.00% (9.40%)
		Value assigned to escrow funds	0.50 - 3.75% (1.80%)
		Servicing cost	700 - 17,000 (2,512)
		Loan assumption rate	0.00 - 3.00% (2.18%)
		Percentage late	0.00 - 2.00% (0.22%)