US Bank 2014 Annual Report Download - page 108
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The following table provides a summary of TDR loans that defaulted (fully or partially charged-off or became 90 days or more
past due) for the years ended December 31, that were modified as TDRs within 12 months previous to default:
(Dollars in Millions)
Number
of Loans
Amount
Defaulted
2014
Commercial .......................................................................................................... 629 $ 44
Commercial real estate .............................................................................................. 22 12
Residential mortgages................................................................................................ 611 86
Credit card ........................................................................................................... 6,335 33
Other retail ........................................................................................................... 845 24
Total loans, excluding GNMA and covered loans ................................................................... 8,442 199
Loans purchased from GNMA mortgage pools........................................................................ 876 102
Covered loans ........................................................................................................ 14 5
Total loans ......................................................................................................... 9,332 $ 306
2013
Commercial .......................................................................................................... 642 $ 46
Commercial real estate .............................................................................................. 87 102
Residential mortgages................................................................................................ 1,099 163
Credit card ........................................................................................................... 6,640 37
Other retail ........................................................................................................... 1,841 80
Total loans, excluding GNMA and covered loans ................................................................... 10,309 428
Loans purchased from GNMA mortgage pools........................................................................ 4,972 640
Covered loans ........................................................................................................ 63 49
Total loans ......................................................................................................... 15,344 $1,117
2012
Commercial .......................................................................................................... 859 $ 48
Commercial real estate .............................................................................................. 111 232
Residential mortgages................................................................................................ 1,073 146
Credit card ........................................................................................................... 9,774 54
Other retail ........................................................................................................... 1,818 56
Total loans, excluding GNMA and covered loans ................................................................... 13,635 536
Loans purchased from GNMA mortgage pools........................................................................ 1,245 177
Covered loans ........................................................................................................ 68 97
Total loans ......................................................................................................... 14,948 $ 810
In addition to the defaults in the table above, for the year
ended December 31, 2014, the Company had a total of 1,778
residential mortgage loans, home equity and second
mortgage loans and loans purchased from GNMA mortgage
pools with aggregate outstanding balances of $222 million
where borrowers did not successfully complete the trial
period arrangement and therefore are no longer eligible for a
permanent modification under the applicable modification
program.
106