Mortgage Servicing Rights - Significant Econcomic Assumptions (Details)
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3 Months Ended | 12 Months Ended |
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Mar. 31, 2015
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Dec. 31, 2014
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Fixed | ||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||
Weighted-average OAS |
4.60%bac_AssumptionforFairValueofAssetsorLiabilitiesthatrelatetoTransferorsContinuingInvolvementWeightedAverageOptionAdjustedSpread / us-gaap_FinancialInstrumentAxis = us-gaap_FixedRateResidentialMortgageMember |
4.52%bac_AssumptionforFairValueofAssetsorLiabilitiesthatrelatetoTransferorsContinuingInvolvementWeightedAverageOptionAdjustedSpread / us-gaap_FinancialInstrumentAxis = us-gaap_FixedRateResidentialMortgageMember |
Weighted-average life, in years | 4 years 3 months 3 days | 4 years 6 months 10 days |
Adjustable | ||
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ||
Weighted-average OAS |
7.76%bac_AssumptionforFairValueofAssetsorLiabilitiesthatrelatetoTransferorsContinuingInvolvementWeightedAverageOptionAdjustedSpread / us-gaap_FinancialInstrumentAxis = us-gaap_AdjustableRateResidentialMortgageMember |
7.61%bac_AssumptionforFairValueofAssetsorLiabilitiesthatrelatetoTransferorsContinuingInvolvementWeightedAverageOptionAdjustedSpread / us-gaap_FinancialInstrumentAxis = us-gaap_AdjustableRateResidentialMortgageMember |
Weighted-average life, in years | 3 years 1 month 20 days | 2 years 11 months 12 days |
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- Definition
This represents the weighted-average option adjusted spread component of the economic assumptions used in the Option Adjusted Spread valuation approach used to determine the fair value of mortgage servicing rights which factors in prepayment risk. No definition available.
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- Definition
Weighted average life of securitized assets regardless of when the transfer occurred, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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