Wells Fargo 2013 Annual Report Download - page 179
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The table below summarizes permanent modification TDRs
that have defaulted in the current period within 12 months of
their permanent modification date. We are reporting these
defaulted TDRs based on a payment default definition of 90 days
past due for the commercial portfolio segment and 60 days past
due for the consumer portfolio segment.
Recorded investment of defaults
Year ended December 31,
(in millions) 2013 2012 2011
Commercial:
Commercial and industrial $ 234 379 216
Real estate mortgage 303 579 331
Real estate construction 70 261 69
Lease financing - 1 1
Foreign 1 -1
Total commercial 608 1,220 618
Consumer:
Real estate 1-4 family first mortgage 370 567 1,110
Real estate 1-4 family junior lien mortgage 34 55 137
Credit card 59 94 156
Automobile 18 55 110
Other revolving credit and installment 1 1 3
Total consumer 482 772 1,516
Total $ 1,090 1,992 2,134
Purchased Credit-Impaired Loans
Substantially all of our PCI loans were acquired from Wachovia
on December 31, 2008. 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.
December 31,
(in millions) 2013 2012 2008
Commercial:
Commercial and industrial $ 215 259 4,580
Real estate mortgage 1,136 1,970 5,803
Real estate construction 433 877 6,462
Foreign 720 871 1,859
Total commercial 2,504 3,977 18,704
Consumer:
Real estate 1-4 family first mortgage 24,100 26,839 39,214
Real estate 1-4 family junior lien mortgage 123 152 728
Automobile --151
Total consumer 24,223 26,991 40,093
Total PCI loans (carrying value) $ 26,727 30,968 58,797
Total PCI loans (unpaid principal balance) $ 38,229 45,174 98,182
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