Ally Bank 2012 Annual Report Download - page 51

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The following table summarizes our U.S. consumer mortgage loan production by type.
2012 2011 2010
Year ended December 31, ($ in millions) Number of
loans
Dollar
amount of
loans Number of
loans
Dollar
amount of
loans Number of loans
Dollar
amount of
loans
Prime conforming 133,359 $ 27,920 209,031 $ 47,511 228,936 $ 53,721
Prime nonconforming 2,706 2,211 2,008 1,679 1,837 1,548
Government 10,793 2,334 35,686 7,068 71,289 14,273
Total U.S. production 146,858 $ 32,465 246,725 $ 56,258 302,062 $ 69,542
U.S. Warehouse Lending
Historically, we provided warehouse-lending facilities to correspondent lenders and other mortgage originators in the United States.
These facilities enabled lenders and originators to finance residential mortgage loans until they were sold in the secondary mortgage loan
market. In July 2012, we announced our intention to shut down this business and, as of December 31, 2012, we successfully managed
receivables down to $0 with no commitments outstanding. At December 31, 2011, we had total warehouse line of credit commitments of $2.8
billion, against which we had $1.9 billion of advances outstanding.
Loans Outstanding
Consumer mortgage loans held-for-sale and consumer mortgage loans held-for-investment as of December 31, 2012, represent loans held
by Ally Bank. ResCap was deconsolidated from Ally Financial as of May 14, 2012. Refer to Note 1 to the Consolidated Financial Statements
for further details on ResCap.
Consumer mortgage loans held-for-sale were as follows.
December 31, ($ in millions) 2012 2011
Prime conforming $ 2,407 $ 3,345
Prime nonconforming —571
Prime second-lien —545
Government (a) 83,294
Nonprime —561
International —17
Total (b) 2,415 8,333
Net premiums (discounts) 26 (221)
Fair value option election adjustment 49 60
Lower-of-cost or fair value adjustment —(60)
Total, net (c) $ 2,490 $ 8,112
(a) Includes loans subject to conditional repurchase options of $0 million and $2.3 billion sold to Ginnie Mae-guaranteed securitizations at December 31,
2012, and December 31, 2011, respectively. The corresponding liability is recorded in accrued expenses and other liabilities on the Consolidated Balance
Sheet.
(b) Includes unpaid principal write-down of $0 million and $1.5 billion at December 31, 2012, and December 31, 2011, respectively. The amounts are write-
downs taken upon the transfer of mortgage loans from held-for-investment to held-for-sale during the fourth quarter of 2009 and charge-offs taken in
accordance with our charge-off policy.
(c) Includes loans subject to conditional repurchase options of $0 million and $106 million sold to off-balance sheet private-label securitizations at
December 31, 2012, and December 31, 2011, respectively. The corresponding liability is recorded in accrued expenses and other liabilities on the
Consolidated Balance Sheet.
Table of Contents
Management's Discussion and Analysis
Ally Financial Inc. • Form 10-K