BB&T 2007 Annual Report Download - page 97

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BB&T CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table includes a summary of residential mortgage loans managed or securitized and related
delinquencies and net charge-offs.
Years Ended December 31,
2007 2006
(Dollars in millions)
Mortgage Loans Managed or Securitized (1) $19,029 $17,218
Less: Loans Securitized and Transferred to
Securities Available for Sale 669 747
Less: Loans Held for Sale 723 661
Less: Mortgage Loans Sold with Recourse 170 214
Mortgage Loans Held for Investment $17,467 $15,596
Mortgage Loans on Nonaccrual Status $ 119 $ 53
Mortgage Loans 90 Days Past Due and Still Accruing Interest 85 37
Mortgage Loan Net Charge-offs 10 6
(1) Balances exclude loans serviced for others, with no other continuing involvement.
BB&T also arranges and services commercial real estate mortgages through Grandbridge Real Estate
Capital, LLC (“Grandbridge”) the commercial mortgage banking subsidiary of Branch Bank. During the years
ended December 31, 2007, 2006 and 2005, Grandbridge originated $3.0 billion, $2.9 billion and $2.0 billion,
respectively, of commercial real estate mortgages, all of which were arranged for third party investors and
serviced by Grandbridge. As of December 31, 2007, 2006 and 2005, Grandbridge’s portfolio of commercial real
estate mortgages serviced for others totaled $20.8 billion, $9.2 billion and $8.1 billion, respectively. Commercial
real estate mortgage loans serviced for others are not included in loans on the accompanying Consolidated
Balance Sheets. At December 31, 2007, Grandbridge had $2.1 billion in loans serviced for others that were
covered by loss sharing agreements. Grandbridge’s maximum recourse exposure associated with these loans is
approximately $576 million. Mortgage servicing rights related to commercial mortgage loans totaled $88 million,
$28 million and $20 million at December 31, 2007, 2006 and 2005, respectively.
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