Bank of America 2015 Annual Report Download - page 172

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170 Bank of America 2015
The table below presents the December 31, 2015, 2014 and 2013 carrying value for consumer real estate loans that were modified
in a TDR during 2015, 2014 and 2013, by type of modification.
Consumer Real Estate – Modification Programs
TDRs Entered into During 2015
(Dollars in millions)
Residential
Mortgage
Home
Equity
Total Carrying
Value
Modifications under government programs
Contractual interest rate reduction $408 $23 $ 431
Principal and/or interest forbearance 4 7 11
Other modifications (1) 46 —46
Total modifications under government programs 458 30 488
Modifications under proprietary programs
Contractual interest rate reduction 191 28 219
Capitalization of past due amounts 69 10 79
Principal and/or interest forbearance 124 44 168
Other modifications (1) 34 95 129
Total modifications under proprietary programs 418 177 595
Trial modifications 1,516 452 1,968
Loans discharged in Chapter 7 bankruptcy (2) 263 116 379
Total modifications $ 2,655 $ 775 $ 3,430
TDRs Entered into During 2014
Modifications under government programs
Contractual interest rate reduction $ 643 $ 56 $ 699
Principal and/or interest forbearance 16 18 34
Other modifications (1) 98 1 99
Total modifications under government programs 757 75 832
Modifications under proprietary programs
Contractual interest rate reduction 244 22 266
Capitalization of past due amounts 71 2 73
Principal and/or interest forbearance 66 75 141
Other modifications (1) 40 47 87
Total modifications under proprietary programs 421 146 567
Trial modifications 3,421 182 3,603
Loans discharged in Chapter 7 bankruptcy (2) 521 189 710
Total modifications $ 5,120 $ 592 $ 5,712
TDRs Entered into During 2013
Modifications under government programs
Contractual interest rate reduction $ 1,815 $ 48 $ 1,863
Principal and/or interest forbearance 35 24 59
Other modifications (1) 100 — 100
Total modifications under government programs 1,950 72 2,022
Modifications under proprietary programs
Contractual interest rate reduction 2,799 40 2,839
Capitalization of past due amounts 132 2 134
Principal and/or interest forbearance 469 17 486
Other modifications (1) 105 25 130
Total modifications under proprietary programs 3,505 84 3,589
Trial modifications 3,410 87 3,497
Loans discharged in Chapter 7 bankruptcy (2) 1,151 278 1,429
Total modifications $ 10,016 $ 521 $ 10,537
(1) Includes other modifications such as term or payment extensions and repayment plans.
(2) Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs.