Wells Fargo 2015 Annual Report Download - page 178

Note 6: Loans and Allowance for Credit Losses (continued)
Table 6.18 summarizes permanent modification TDRs that for the commercial portfolio segment and 60 days past due for
have defaulted in the current period within 12 months of their the consumer portfolio segment.
permanent modification date. We are reporting these defaulted
TDRs based on a payment default definition of 90 days past due
Table 6.18: Defaulted TDRs
Recorded investment of defaults
Year ended December 31,
(in millions) 2015 2014 2013
Commercial:
Commercial and industrial $ 66 62 235
Real estate mortgage 104 117 303
Real estate construction 4 4 70
Total commercial 174 183 608
Consumer:
Real estate 1-4 family first mortgage 187 334 370
Real estate 1-4 family junior lien mortgage 17 29 34
Credit card 52 51 59
Automobile 13 14 18
Other revolving credit and installment 3 2 1
Total consumer 272 430 482
Total $ 446 613 1,090
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. Table 6.19 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.
Table 6.19: PCI Loans
Dec 31, Dec 31,
(in millions) 2015 2014
Commercial:
Commercial and industrial $ 78 75
Real estate mortgage 542 1,261
Real estate construction 92 171
Total commercial 712 1,507
Consumer:
Real estate 1-4 family first mortgage 19,190 21,712
Real estate 1-4 family junior lien
mortgage 69 101
Total consumer 19,259 21,813
Total PCI loans (carrying value) $ 19,971 23,320
Total PCI loans (unpaid principal balance) $ 28,278 32,924
Wells Fargo & Company
176