Capital One 2015 Annual Report Download - page 170

CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
151 Capital One Financial Corporation (COF)
December 31, 2014
Loans Acquired Loans Total Home Loans
(Dollars in millions) Amount
% of
Total(1) Amount
% of
Total(1) Amount
% of
Total(1)
Origination year:(2)
< = 2006. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,827 9.4% $ 5,715 19.1% $ 8,542 28.5%
2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320 1.1 4,766 15.8 5,086 16.9
2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 187 0.6 3,494 11.7 3,681 12.3
2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 0.4 1,999 6.6 2,106 7.0
2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 0.4 3,108 10.3 3,228 10.7
2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 221 0.7 3,507 11.7 3,728 12.4
2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,620 5.4 533 1.8 2,153 7.2
2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 661 2.2 85 0.3 746 2.5
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 731 2.4 34 0.1 765 2.5
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,794 22.6% $ 23,241 77.4% $ 30,035 100.0%
Geographic concentration:(3)
California. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 924 3.1% $ 6,019 20.0% $ 6,943 23.1%
New York. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,379 4.6 1,073 3.6 2,452 8.2
Illinois . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 0.3 1,787 5.9 1,873 6.2
Maryland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 457 1.5 1,263 4.2 1,720 5.7
Virginia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385 1.3 1,153 3.8 1,538 5.1
New Jersey. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 341 1.1 1,188 4.0 1,529 5.1
Florida . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 161 0.5 1,214 4.1 1,375 4.6
Arizona . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 0.3 1,215 4.1 1,304 4.4
Louisiana . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,205 4.0 38 0.1 1,243 4.1
Washington . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 0.4 1,038 3.4 1,147 3.8
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,658 5.5 7,253 24.2 8,911 29.7
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,794 22.6% $ 23,241 77.4% $ 30,035 100.0%
Lien type:
1st lien . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,756 19.2% $ 22,883 76.2% $ 28,639 95.4%
2nd lien . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,038 3.4 358 1.2 1,396 4.6
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,794 22.6% $ 23,241 77.4% $ 30,035 100.0%
Interest rate type:
Fixed rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,446 8.1% $ 2,840 9.5% $ 5,286 17.6%
Adjustable rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,348 14.5 20,401 67.9 24,749 82.4
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,794 22.6% $ 23,241 77.4% $ 30,035 100.0%
__________
(1) Percentages within each risk category are calculated based on total home loans held for investment.
(2) The Acquired Loans balances with an origination date in the years subsequent to 2012 are related to refinancing of previously acquired home loans.
(3) States listed represents the ten states in which we have the highest concentration of home loans.
Our recorded investment in home loans for properties that are in process of foreclosure was $474 million as of December 31, 2015.
We commence the foreclosure process on home loans when a borrower becomes at least 120 days delinquent in accordance with
Consumer Financial Protection Bureau regulations. Foreclosure procedures and time lines vary according to state law. As of
December 31, 2015 and 2014, the carrying value of the foreclosed residential real estate properties which we hold and report as
other assets on our consolidated balance sheet totaled $123 million and $131 million, respectively.