Wells Fargo 2014 Annual Report Download - page 176
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Note 6: Loans and Allowance for Credit Losses (continued)
The table below summarizes permanent modification TDRs past due for the commercial portfolio segment and 60 days past
that have defaulted in the current period within 12 months of due for the consumer portfolio segment.
their permanent modification date. We are reporting these
defaulted TDRs based on a payment default definition of 90 days
Recorded investment of defaults
Year ended December 31,
(in millions) 2014 2013 2012
Commercial:
Commercial and industrial $ 62 235 379
Real estate mortgage 117 303 579
Real estate construction 4 70 261
Lease financing — — 1
Total commercial 183 608 1,220
Consumer:
Real estate 1-4 family first mortgage 334 370 567
Real estate 1-4 family junior lien mortgage 29 34 55
Credit card 51 59 94
Automobile 14 18 55
Other revolving credit and installment 2 1 1
Total consumer 430 482 772
Total $ 613 1,090 1,992
Purchased Credit-Impaired Loans
Substantially all of our PCI loans were acquired from Wachovia
on December 31, 2008, at which time we acquired commercial
and consumer loans with a carrying value of $18.7 billion and
$40.1 billion, respectively. The unpaid principal balance on
December 31, 2008 was $98.2 billion for the total of commercial
and consumer PCI loans. The following table presents PCI loans
net of any remaining purchase accounting adjustments. Real
estate 1-4 family first mortgage PCI loans are predominantly
Pick-a-Pay loans.
Dec 31, Dec 31,
(in millions) 2014 2013
Commercial:
Commercial and industrial $ 75 215
Real estate mortgage 1,261 1,856
Real estate construction 171 433
Total commercial 1,507 2,504
Consumer:
Real estate 1-4 family first mortgage 21,712 24,100
Real estate 1-4 family junior lien
mortgage 101 123
Total consumer 21,813 24,223
Total PCI loans (carrying value) $23,320 26,727
Total PCI loans (unpaid principal balance) $32,924 38,229
174