Wells Fargo 2011 Annual Report Download - page 152

Note 6: Loans and Allowance for Credit Losses (continued)
LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING
Certain loans 90 days or more past due as to interest or principal
are still accruing, because they are (1) well-secured and in the
process of collection or (2) real estate 1-4 family mortgage loans
or consumer loans exempt under regulatory rules from being
classified as nonaccrual until later delinquency, usually 120 days
past due. PCI loans of $8.7 billion at December 31, 2011, and
$11.6 billion at December 31, 2010, are excluded from this
disclosure even though they are 90 days or more contractually
past due. These PCI loans are considered to be accruing due to
the existence of the accretable yield and not based on
consideration given to contractual interest payments. Loans 90
days or more past due and still accruing whose repayments are
insured by the Federal Housing Administration (FHA) or
predominantly guaranteed by the Department of Veterans
Affairs (VA) for mortgages and the U.S. Department of
Education for student loans under the Federal Family Education
Loan Program were $20.5 billion at December 31, 2011, up from
$15.8 billion at December 31, 2010, due primarily to growth in
the FHA/VA portfolio over the past two years and the
subsequent seasoning of those loans.
The following table shows non-PCI loans 90 days or more
past due and still accruing by class for loans not government
insured/guaranteed.
December 31,
(in millions)
2011
2010
Loan 90 days or more past due and still accruing:
Total (excluding PCI):
$
22,569
18,488
Less: FHA insured/VA guaranteed (1)
19,240
14,733
Less: Student loans guaranteed
under the FFELP (2)
1,281
1,106
Total, not government
insured/guaranteed
$
2,048
2,649
By segment and class, not government
insured/guaranteed:
Commercial:
Commercial and industrial
$
153
308
Real estate mortgage
256
104
Real estate construction
89
193
Foreign
6
22
Total commercial
504
627
Consumer:
Real estate 1-4 family first mortgage (3)
781
941
Real estate 1-4 family junior lien mortgage (3)
279
366
Credit card
346
516
Other revolving credit and installment
138
199
Total consumer
1,544
2,022
Total, not government
insured/guaranteed
$
2,048
2,649
(1)
Represents loans whose repayments are insured by the FHA or guaranteed by the
VA.
(2)
Represents loans whose repayments are predominantly guaranteed by agencies
on behalf of the U.S. Department of Education under the FFELP.
(3)
Includes mortgage held for sale 90 days or more past due and still accruing.
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