JP Morgan Chase 2010 Annual Report Download - page 228

Notes to consolidated financial statements
228 JPMorgan Chase & Co./2010 Annual Report
Residential real estate – excluding PCI loans
The tables below provide information by class for residential real estate (excluding PCI) retained loans in the consumer, excluding credit card
portfolio segment.
Home
e
quity
As of or for the year ended
Senior
l
ien
Junior lien
December 31, (in millions, except ratios)
2010
2009
2010
2009
Net charge-offs
$
262
$ 234
$
3,182
$ 4,448
% of net charge-offs to retained loans
1.00
%
0.80%
4.63
%
5.62 %
Loan delinquency
Current and less than 30 days past due
$
23,615
$ 26,543
$ 62,315
$ 71,534
30–149 days past due
414
512
1,508
2,224
150 or more days past due
347
321
186
291
Total retained loans
$
24,376
$ 27,376
$ 64,009
$ 74,049
% of 30+ days past due to total retained loans
3.12%
3.04%
2.65
%
3.40 %
90 or more days past due and still accruing
$
—
$ —
$
—
$ —
Nonaccrual loans
(a)
479 477 784 1,188
Current estimated LTV ratios
(b)
(c)
(d)
Greater than 125% and refreshed FICO scores:
Equal to or greater than 660
$
528
$ 472
$
6,928
$ 6,788
Less than 660
238
235
2
,4
95
2,703
101% to 125% and refreshed FICO scores:
Equal to or greater than 660
974
933
9,403
10,616
Less than 660
325
319
2,873
3,277
80% to 100% and refreshed FICO scores:
Equal to or greater than 660
2,860
3,038
13,333
16,098
Less than 660
738
825
3,155
3,657
Less than 80% and refreshed FICO scores:
Equal to or greater than 660
15,9
94
18,591
22,52
7
27,225
Less than 660
2,719
2,963
3,295
3,685
U.S. government-guaranteed
—
—
—
—
Total
retained
loans
$
24,376
$ 27,376
$
64,009
$ 74,049
Geographic region
California
$
3,3
48
$ 3,658
$
14,656
$ 16,990
New York
3,272
3,438
12,278
13,456
Texas
3,594
4,306
2,239
2,711
Florida
1,088
1,198
3,470
4,123
Illinois
1,635
1,795
4,248
4,849
Ohio
2,010
2,338
1,568
1,865
New Jersey
732
777
3,617
4,090
Michigan
1,176
1,329
1,618
1,900
Arizona
1,481
1,648
2,979
3,582
Washington
776
868
2,142
2,481
All other
(e)
5,264 6,021 15,194 18,002
Total
retained
loans
$
24,
376
$ 27,376
$
64,009
$ 74,049
(a) At December 31, 2010 and 2009, nonaccrual loans excluded mortgage loans insured by U.S. government agencies of $10.5 billion and $9.0 billion, respectively, that are
90 days past due and accruing at the guaranteed reimbursement rate. These amounts are excluded as reimbursement of insured amounts is proceeding normally.
(b) Represents the aggregate unpaid principal balance of loans divided by the estimated current property value. Current property values are estimated, at a minimum, quar-
terly, based on home valuation models utilizing nationally recognized home price index valuation estimates and do not represent actual appraised loan level collateral val-
ues; as such, the resulting ratios are necessarily imprecise and should be viewed as estimates.
(c) Junior lien represents combined LTV, which considers all available lien positions related to the property. All other products are presented without consideration of subordi-
nate liens on the property.
(d) Refreshed FICO scores represent each borrower’s most recent credit score obtained by the Firm; current FICO scores are obtained at least quarterly.
(e) At December 31, 2010 and 2009, includes prime mortgage loans insured by U.S. government agencies of $12.9 billion and $10.8 billion, respectively.
(f) At December 31, 2010 and 2009, includes 30+ day delinquent mortgage loans that are insured by U.S. government agencies of $11.4 billion and $9.7 billion, respectively.
These amounts are considered current as reimbursement of insured amounts is proceeding normally.