Wells Fargo 2011 Annual Report Download - page 67

LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING
Loans 90 days or more past due as to interest or principal are
still accruing if 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, $11.6 billion and $16.1 billion
at December 31, 2011, 2010 and 2009, respectively, 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.
Excluding insured/guaranteed loans, loans 90 days or more
past due and still accruing at December 31, 2011, were down
$601 million, or 23%, from December 31, 2010. The decline was
due to loss mitigation activities including modifications and
increased collection capacity/process improvements, charge-
offs, lower early stage delinquency levels and credit stabilization.
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.
Table 34 reflects non-PCI loans 90 days or more past due and
still accruing by class for loans not government
insured/guaranteed. For additional information on
delinquencies by loan class, see Note 6 (Loans and Allowance for
Credit Losses) to Financial Statements in this Report.
Table 34: Loans 90 Days or More Past Due and Still Accruing
December 31,
(in millions)
2011
2010
2009
2008
2007
Loans 90 days or more past due and still accruing:
Total (excluding PCI)
$
22,569
18,488
22,188
11,831
6,393
Less: FHA Insured/VA guaranteed (1)
19,240
14,733
15,336
8,185
4,834
Less: Student loans guaranteed under the FFELP (2)
1,281
1,106
994
765
333
Total, not government insured/guaranteed
$
2,048
2,649
5,858
2,881
1,226
By segment and class, not government insured/guaranteed:
Commercial:
Commercial and industrial
$
153
308
590
218
32
Real estate mortgage
256
104
1,014
70
10
Real estate construction
89
193
909
250
24
Foreign
6
22
73
34
52
Total commercial
504
627
2,586
572
118
Consumer:
Real estate 1-4 family first mortgage (3)
781
941
1,623
883
286
Real estate 1-4 family junior lien mortgage (3)
279
366
515
457
201
Credit card
346
516
795
687
402
Other revolving credit and installment
138
199
339
282
219
Total consumer
1,544
2,022
3,272
2,309
1,108
Total, not government insured/guaranteed
$
2,048
2,649
5,858
2,881
1,226
(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 Federal Family Education Loan
Program (FFELP).
(3)
Includes mortgages held for sale 90 days or more past due and still accruing.
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