Bank of America 2015 Annual Report Download - page 170
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168 Bank of America 2015
The table below provides the unpaid principal balance, carrying
value and related allowance at December 31, 2015 and 2014,
and the average carrying value and interest income recognized for
2015, 2014 and 2013 for impaired loans in the Corporation’s
Consumer Real Estate portfolio segment, and includes primarily
loans managed by Legacy Assets & Servicing (LAS). Certain
impaired consumer real estate loans do not have a related
allowance as the current valuation of these impaired loans
exceeded the carrying value, which is net of previously recorded
charge-offs.
Impaired Loans – Consumer Real Estate
December 31, 2015 December 31, 2014
(Dollars in millions)
Unpaid
Principal
Balance
Carrying
Value
Related
Allowance
Unpaid
Principal
Balance
Carrying
Value
Related
Allowance
With no recorded allowance
Residential mortgage $ 14,888 $ 11,901 $ — $ 19,710 $ 15,605 $ —
Home equity 3,545 1,775 — 3,540 1,630 —
With an allowance recorded
Residential mortgage $ 6,624 $ 6,471 $ 399 $ 7,861 $ 7,665 $ 531
Home equity 1,047 911 235 852 728 196
Total
Residential mortgage $ 21,512 $ 18,372 $ 399 $ 27,571 $ 23,270 $ 531
Home equity 4,592 2,686 235 4,392 2,358 196
2015 2014 2013
Average
Carrying
Value
Interest
Income
Recognized (1)
Average
Carrying
Value
Interest
Income
Recognized (1)
Average
Carrying
Value
Interest
Income
Recognized (1)
With no recorded allowance
Residential mortgage $ 13,867 $ 403 $ 15,065 $ 490 $ 16,625 $ 621
Home equity 1,777 89 1,486 87 1,245 76
With an allowance recorded
Residential mortgage $ 7,290 $ 236 $ 10,826 $ 411 $ 13,926 $ 616
Home equity 785 24 743 25 912 41
Total
Residential mortgage $ 21,157 $ 639 $ 25,891 $ 901 $ 30,551 $ 1,237
Home equity 2,562 113 2,229 112 2,157 117
(1) Interest income recognized includes interest accrued and collected on the outstanding balances of accruing impaired loans as well as interest cash collections on nonaccruing impaired loans for
which the principal is considered collectible.