Quarterly report pursuant to Section 13 or 15(d)

Securitizations and Other Variable Interest Entities - First Lien Mortgage Securitizations (Details)

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Securitizations and Other Variable Interest Entities - First Lien Mortgage Securitizations (Details) (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Dec. 31, 2013
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]          
Servicing fees $ 423,000,000 $ 674,000,000 $ 1,400,000,000 $ 2,300,000,000  
First Lien Mortgages
          
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]          
Gain (loss) on loans securitized 169,000,000 379,000,000 552,000,000 1,700,000,000  
Servicing advance 10,500,000,000   10,500,000,000   14,100,000,000
Loans repurchased from investors and securitization trusts 1,500,000,000 3,100,000,000 3,900,000,000 9,400,000,000  
Agency
          
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]          
Cash proceeds from new securitizations 10,643,000,000 [1] 14,068,000,000 [1] 25,661,000,000 [1] 41,444,000,000 [1]  
Gain (loss) on securitizations 146,000,000 [2] 36,000,000 [2] 114,000,000 [2] 92,000,000 [2]  
Non-agency | Subprime
          
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]          
Cash proceeds from new securitizations 0 [1] 0 [1] 809,000,000 [1] 0 [1]  
Gain (loss) on securitizations 0 [2] 0 [2] 49,000,000 [2] 0 [2]  
Commercial Mortgage
          
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]          
Cash proceeds from new securitizations 1,820,000,000 [1] 0 [1] 4,032,000,000 [1] 208,000,000 [1]  
Gain (loss) on securitizations 19,000,000 [2] 0 [2] 70,000,000 [2] 0 [2]  
Level 2 | First Lien Mortgages
          
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]          
Transfers of financial assets accounted for as sale initial fair value of assets $ 4,100,000,000 $ 490,000,000 $ 5,000,000,000 $ 3,000,000,000  
[1] The Corporation transfers residential mortgage loans to securitizations sponsored by the GSEs or GNMA in the normal course of business and receives RMBS in exchange which may then be sold into the market to third-party investors for cash proceeds.
[2] Substantially all of the first-lien residential and commercial mortgage loans securitized are initially classified as LHFS and accounted for under the fair value option. As such, gains are recognized on these LHFS prior to securitization. The Corporation recognized $169 million and $552 million of gains, net of hedges, on loans securitized during the three and nine months ended September 30, 2014 compared to $379 million and $1.7 billion for the same periods in 2013.