Quarterly report pursuant to Section 13 or 15(d)

Mortgage Servicing Rights - Rollforward of Mortgage Servicing Rights (Details)

v2.4.0.8
Mortgage Servicing Rights - Rollforward of Mortgage Servicing Rights (Details) (USD $)
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Activity for residential first mortgage MSRs        
Balance, beginning of period $ 4,368,000,000 $ 5,827,000,000 $ 5,042,000,000 $ 5,716,000,000
Additions 203,000,000 129,000,000 581,000,000 399,000,000
Sales (1,000,000) (729,000,000) (47,000,000) (1,774,000,000)
Amortization of expected cash flows (232,000,000) [1] (240,000,000) [1] (699,000,000) [1] (814,000,000) [1]
Impact of changes in interest rates and other market factors (10,000,000) [2] 24,000,000 [2] (637,000,000) [2] 1,162,000,000 [2]
Model and other cash flow assumption changes:        
Projected cash flows, including changes in costs to service loans (82,000,000) [3] 9,000,000 [3] (36,000,000) [3] 23,000,000 [3]
Impact of changes in the Home Price Index 5,000,000 [3] (197,000,000) [3] (2,000,000) [3] (399,000,000) [3]
Impact of changes to the prepayment model (18,000,000) [3] 206,000,000 [3] 142,000,000 [3] 609,000,000 [3]
Other model changes 10,000,000 [3],[4] 29,000,000 [3],[4] (101,000,000) [3],[4] 136,000,000 [3],[4]
Balance, end of period 4,243,000,000 5,058,000,000 4,243,000,000 5,058,000,000
Mortgage loans serviced for investors (in billions) 507,000,000,000 616,000,000,000 507,000,000,000 616,000,000,000
Option adjusted spread due to MSR model recalibration     $ (127,000,000)  
[1] Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows.
[2] These amounts reflect the changes in modeled MSR fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve.
[3] These amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows as well as changes in certain cash flow assumptions such as cost to service and ancillary income per loan.
[4] These amounts include the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows. Also included is a decrease of $127 million for the nine months ended September 30, 2014 due to changes in option-adjusted spread rate assumptions.