Representations and Warranties Obligations and Corporate Guarantees (Details) (USD $)
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12 Months Ended | |
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Dec. 31, 2014
rescission_notice
RescissionNotices
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Dec. 31, 2013
RescissionNotices
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Loss Contingencies [Line Items] | ||
Inactive claims, threshold period of inactivity after denial | 6 months | |
Notional amount of unresolved repurchase claims | $ 25,635,000,000bac_UnresolvedRepurchaseClaimsAmount | $ 19,655,000,000bac_UnresolvedRepurchaseClaimsAmount |
Number of open rescission notices | 65,000bac_MortgageInsuranceNumberofOpenRescissionNotices | |
Number of open mortgage insurance rescission notices | 101,000bac_NumberOfOpenMortgageInsuranceRescissionNotices | |
Number of open rescission notices pertaining to first-lien mortgages | 17,000bac_MortgageInsuranceNumberofOpenRescissionNoticesFirstLienMortgages | |
Number of open rescission notices pertaining to ongoing litigations for second lien mortgages | 48,000bac_MortgageInsuranceNumberofOpenRescissionNoticesOngoingLitigationForSecondLienMortgages | |
Maximum estimated range of possible loss | 2,700,000,000.0us-gaap_LossContingencyRangeOfPossibleLossMaximum | |
Representations and Warranties Exposure | ||
Loss Contingencies [Line Items] | ||
Maximum estimated range of possible loss |
4,000,000,000us-gaap_LossContingencyRangeOfPossibleLossMaximum / us-gaap_LossContingenciesByNatureOfContingencyAxis = bac_RepresentationsandWarrantiesExposureMember |
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Monolines | ||
Loss Contingencies [Line Items] | ||
Notional amount of unresolved repurchase claims |
1,087,000,000bac_UnresolvedRepurchaseClaimsAmount / us-gaap_CounterpartyNameAxis = bac_MonolineMember |
1,532,000,000bac_UnresolvedRepurchaseClaimsAmount / us-gaap_CounterpartyNameAxis = bac_MonolineMember |
Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other | ||
Loss Contingencies [Line Items] | ||
Notional amount of unresolved repurchase claims |
24,489,000,000bac_UnresolvedRepurchaseClaimsAmount / us-gaap_CounterpartyNameAxis = bac_PrivateLabelSecuritizationTrusteesWholeLoanInvestorsIncludingThirdPartySponsorsandOtherMember |
17,953,000,000bac_UnresolvedRepurchaseClaimsAmount / us-gaap_CounterpartyNameAxis = bac_PrivateLabelSecuritizationTrusteesWholeLoanInvestorsIncludingThirdPartySponsorsandOtherMember |
Mortgage Loans Originated between 2004 and 2008 | Private-label securitization trustees, whole-loan investors, including third-party securitization sponsors and other | ||
Loss Contingencies [Line Items] | ||
Duplicate claims submitted without individual loan file review |
3,200,000,000bac_UnresolvedRepurchaseClaimsDuplicateClaimsSubmittedWithoutIndividualLoanFileReview / us-gaap_CounterpartyNameAxis = bac_PrivateLabelSecuritizationTrusteesWholeLoanInvestorsIncludingThirdPartySponsorsandOtherMember / bac_MortgageLoanOriginationPeriodAxis = bac_MortgageLoansOriginatedbetween2004and2008Member |
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Unresolved repurchase claims, net of duplicate claims, in which statute of limitations has expired |
$ 4,700,000,000bac_UnresolvedRepurchaseClaimsNetofDuplicateClaimsAmountinwhichStatuteofLimitationshasExpired / us-gaap_CounterpartyNameAxis = bac_PrivateLabelSecuritizationTrusteesWholeLoanInvestorsIncludingThirdPartySponsorsandOtherMember / bac_MortgageLoanOriginationPeriodAxis = bac_MortgageLoansOriginatedbetween2004and2008Member |
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Minimum | Monolines | ||
Loss Contingencies [Line Items] | ||
Timetable to reach a settlement once a breach of representations and warranties is confirmed | 60 days | |
Maximum | Monolines | ||
Loss Contingencies [Line Items] | ||
Timetable to reach a settlement once a breach of representations and warranties is confirmed | 90 days |
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- Definition
Mortgage Insurance, Number of Open Rescission Notices No definition available.
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Mortgage Insurance, Number of Open Rescission Notices, First-Lien Mortgages No definition available.
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Mortgage Insurance, Number of Open Rescission Notices, Ongoing Litigation For Second Lien Mortgages No definition available.
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Number of Open Mortgage Insurance Rescission Notices No definition available.
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Time period after which claims that have been denied, and no further communication has been received, are considered inactive. No definition available.
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This represents the timetable in days generally that it takes to reach a settlement where a breach of representations and warranties has been confirmed. No definition available.
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Unresolved Repurchase Claims, Amount No definition available.
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Unresolved Repurchase Claims, Duplicate Claims Submitted Without Individual Loan File Review No definition available.
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Unresolved Repurchase Claims, Net of Duplicate Claims, Amount in which Statute of Limitations has Expired No definition available.
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The estimated maximum amount of possible loss from the contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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