Loans and Allowance for Credit Losses | 120% (1) 2,182 3,155 5,337 2,856 4,058 6,914 No LTV/CLTV available 1,597 1,031 2,628 1,416 1,046 2,462 Government insured/guaranteed loans (2) 22,763 — 22,763 26,268 — 26,268 Total consumer loans (excluding PCI) 251,426 54,517 305,943 243,674 59,616 303,290 Total consumer PCI loans (carrying value) 19,885 75 19,960 21,712 101 21,813 Total consumer loans $ 271,311 54,592 325,903 265,386 59,717 325,103 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. NONACCRUAL LOANS The following table provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 1,031 538 Real estate mortgage 1,125 1,490 Real estate construction 151 187 Lease financing 29 24 Total commercial (1) 2,336 2,239 Consumer: Real estate 1-4 family first mortgage (2) 7,425 8,583 Real estate 1-4 family junior lien mortgage 1,612 1,848 Automobile 123 137 Other revolving credit and installment 41 41 Total consumer 9,201 10,609 Total nonaccrual loans (excluding PCI) $ 11,537 12,848 (1) Includes LHFS of $0 million at September 30, 2015 and $1 million at December 31, 2014 . (2) Includes MHFS of $96 million and $177 million at September 30, 2015 , and December 31, 2014 , respectively. LOANS IN PROCESS OF FORECLOSURE Our recorded investment in consumer mortgage loans collateralized by residential real estate property that are in process of foreclosure was $11.8 billion and $12.7 billion at September 30, 2015 and December 31, 2014 , respectively, which included $6.4 billion and $6.6 billion , respectively, of loans that are government insured/guaranteed. We commence the foreclosure process on consumer real estate loans when a borrower becomes 120 days delinquent in accordance with Consumer Finance Protection Bureau Guidelines. Foreclosure procedures and timelines vary depending on whether the property address resides in a judicial or non-judicial state. Judicial states require the foreclosure to be processed through the state’s courts while non-judicial states are processed without court intervention. Foreclosure timelines vary according to state law. LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans of $3.2 billion at September 30, 2015 , and $3.7 billion at December 31, 2014 , are not included in these past due and still accruing loans even though they are 90 days or more contractually past due. These PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. The following table shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. (in millions) Sep 30, 2015 Dec 31, 2014 Loans 90 days or more past due and still accruing: Total (excluding PCI): $ 14,405 17,810 Less: FHA insured/guaranteed by the VA (1)(2) 13,500 16,827 Less: Student loans guaranteed under the FFELP (3) 33 63 Total, not government insured/guaranteed $ 872 920 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 53 31 Real estate mortgage 24 16 Real estate construction — — Total commercial 77 47 Consumer: Real estate 1-4 family first mortgage (2) 216 260 Real estate 1-4 family junior lien mortgage (2) 61 83 Credit card 353 364 Automobile 66 73 Other revolving credit and installment 99 93 Total consumer 795 873 Total, not government insured/guaranteed $ 872 920 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) Includes mortgage loans held for sale 90 days or more past due and still accruing. (3) Represents loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP. IMPAIRED LOANS The table below summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. The table below includes trial modifications that totaled $421 million at September 30, 2015 , and $452 million at December 31, 2014 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2014 Form 10-K. Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses September 30, 2015 Commercial: Commercial and industrial $ 2,090 1,416 1,209 252 Real estate mortgage 2,623 2,036 1,950 415 Real estate construction 343 214 195 44 Lease financing 42 30 30 8 Total commercial 5,098 3,696 3,384 719 Consumer: Real estate 1-4 family first mortgage 20,055 17,508 11,393 1,816 Real estate 1-4 family junior lien mortgage 2,743 2,450 1,894 464 Credit card 307 307 307 95 Automobile 174 109 41 6 Other revolving credit and installment 76 69 62 9 Total consumer (2) 23,355 20,443 13,697 2,390 Total impaired loans (excluding PCI) $ 28,453 24,139 17,081 3,109 December 31, 2014 Commercial: Commercial and industrial $ 1,524 926 757 240 Real estate mortgage 3,190 2,483 2,405 591 Real estate construction 491 331 308 45 Lease financing 33 19 19 8 Total commercial 5,238 3,759 3,489 884 Consumer: Real estate 1-4 family first mortgage 21,324 18,600 12,433 2,322 Real estate 1-4 family junior lien mortgage 3,094 2,534 2,009 653 Credit card 338 338 338 98 Automobile 190 127 55 8 Other revolving credit and installment 60 50 42 5 Total consumer (2) 25,006 21,649 14,877 3,086 Total impaired loans (excluding PCI) $ 30,244 25,408 18,366 3,970 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Periods ended September 30, 2015 and December 31, 2014 each include the recorded investment of $1.8 billion and $2.1 billion , respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance. Commitments to lend additional funds on loans whose terms have been modified in a TDR amounted to $330 million and $341 million at September 30, 2015 and December 31, 2014 , respectively. The following tables provide the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 1,407 21 1,082 22 1,108 64 1,156 60 Real estate mortgage 2,109 34 2,856 42 2,241 108 3,043 107 Real estate construction 232 7 407 7 260 22 485 22 Lease financing 27 — 26 1 24 — 30 1 Total commercial 3,775 62 4,371 72 3,633 194 4,714 190 Consumer: Real estate 1-4 family first mortgage 17,761 231 19,104 232 18,125 697 18,954 707 Real estate 1-4 family junior lien mortgage 2,467 34 2,555 36 2,499 103 2,552 107 Credit card 310 10 367 11 321 30 392 35 Automobile 111 3 144 4 118 11 161 15 Other revolving credit and installment 61 1 41 1 57 3 38 3 Total consumer 20,710 279 22,211 284 21,120 844 22,097 867 Total impaired loans (excluding PCI) $ 24,485 341 26,582 356 24,753 1,038 26,811 1,057 Interest income: Cash basis of accounting $ 104 115 323 314 Other (1) 237 241 715 743 Total interest income $ 341 356 1,038 1,057 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. TROUBLED DEBT RESTRUCTURINGS (TDRs) When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a TDR. We do not consider any loans modified through a loan resolution such as foreclosure or short sale to be a TDR. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency st" id="sjs-B4">Note 5: Loans and Allowance for Credit Losses The following table presents total loans outstanding by portfolio segment and class of financing receivable. Outstanding balances include a total net reduction of $3.8 billion and $4.5 billion at September 30, 2015 , and December 31, 2014 , respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 292,234 271,795 Real estate mortgage 121,252 111,996 Real estate construction 21,710 18,728 Lease financing 12,142 12,307 Total commercial 447,338 414,826 Consumer: Real estate 1-4 family first mortgage 271,311 265,386 Real estate 1-4 family junior lien mortgage 54,592 59,717 Credit card 32,286 31,119 Automobile 59,164 55,740 Other revolving credit and installment 38,542 35,763 Total consumer 455,895 447,725 Total loans $ 903,233 862,551 Our foreign loans are reported by respective class of financing receivable in the table above. Substantially all of our foreign loan portfolio is commercial loans. Loans are classified as foreign primarily based on whether the borrower’s primary address is outside of the United States. The following table presents total commercial foreign loans outstanding by class of financing receivable. (in millions) Sep 30, Dec 31, Commercial foreign loans: Commercial and industrial $ 46,380 44,707 Real estate mortgage 8,662 4,776 Real estate construction 396 218 Lease financing 279 336 Total commercial foreign loans $ 55,717 50,037 Loan Purchases, Sales, and Transfers The following table summarizes the proceeds paid or received for purchases and sales of loans and transfers from loans held for investment to mortgages/loans held for sale at lower of cost or fair value. This loan activity primarily includes loans purchased and sales of whole loan or participating interests, whereby we receive or transfer a portion of a loan after origination. The table excludes PCI loans and loans recorded at fair value, including loans originated for sale because their loan activity normally does not impact the allowance for credit losses. 2015 2014 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Purchases (1) $ 1,818 29 1,847 1,214 — 1,214 Sales (286 ) (130 ) (416 ) (1,270 ) (40 ) (1,310 ) Transfers to MHFS/LHFS (1) (39 ) (7 ) (46 ) (14 ) 2 (12 ) Nine months ended September 30, Purchases (1) $ 12,648 340 12,988 3,751 168 3,919 Sales (649 ) (160 ) (809 ) (4,869 ) (115 ) (4,984 ) Transfers to MHFS/LHFS (1) (91 ) (14 ) (105 ) (73 ) (9,776 ) (9,849 ) (1) The “Purchases” and “Transfers to MHFS/LHFS" categories exclude activity in government insured/guaranteed real estate 1-4 family first mortgage loans. As servicer, we are able to buy delinquent insured/guaranteed loans out of the Government National Mortgage Association (GNMA) pools. These loans are predominantly insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA). Accordingly, these loans have limited impact on the allowance for loan losses. On a net basis, such purchases net of transfers to MHFS were $145 million and $807 million for third quarter 2015 and 2014 , respectively and $1.0 billion each for the first nine months of 2015 and 2014 , respectively. Commitments to Lend A commitment to lend is a legally binding agreement to lend funds to a customer, usually at a stated interest rate, if funded, and for specific purposes and time periods. We generally require a fee to extend such commitments. Certain commitments are subject to loan agreements with covenants regarding the financial performance of the customer or borrowing base formulas on an ongoing basis that must be met before we are required to fund the commitment. We may reduce or cancel consumer commitments, including home equity lines and credit card lines, in accordance with the contracts and applicable law. We may, as a representative for other lenders, advance funds or provide for the issuance of letters of credit under syndicated loan or letter of credit agreements. Any advances are generally repaid in less than a week and would normally require default of both the customer and another lender to expose us to loss. These temporary advance arrangements totaled approximately $75 billion at September 30, 2015 and $87 billion at December 31, 2014 . We issue commercial letters of credit to assist customers in purchasing goods or services, typically for international trade. At both September 30, 2015 , and December 31, 2014 , we had $1.2 billion of outstanding issued commercial letters of credit. We also originate multipurpose lending commitments under which borrowers have the option to draw on the facility for different purposes in one of several forms, including a standby letter of credit. See Note 10 (Guarantees, Pledged Assets and Collateral) for additional information on standby letters of credit. When we make commitments, we are exposed to credit risk. The maximum credit risk for these commitments will generally be lower than the contractual amount because a significant portion of these commitments are expected to expire without being used by the customer. In addition, we manage the potential risk in commitments to lend by limiting the total amount of commitments, both by individual customer and in total, by monitoring the size and maturity structure of these commitments and by applying the same credit standards for these commitments as for all of our credit activities. For loans and commitments to lend, we generally require collateral or a guarantee. We may require various types of collateral, including commercial and consumer real estate, autos, other short-term liquid assets such as accounts receivable or inventory and long-lived assets, such as equipment and other business assets. Collateral requirements for each loan or commitment may vary based on the loan product and our assessment of a customer’s credit risk according to the specific credit underwriting, including credit terms and structure. The contractual amount of our unfunded credit commitments, including unissued standby and commercial letters of credit, is summarized by portfolio segment and class of financing receivable in the following table. The table excludes the standby and commercial letters of credit and temporary advance arrangements described above. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 292,137 278,093 Real estate mortgage 7,387 6,134 Real estate construction 16,817 15,587 Lease financing — 3 Total commercial 316,341 299,817 Consumer: Real estate 1-4 family first mortgage 36,411 32,055 Real estate 1-4 family junior lien mortgage 43,736 45,492 Credit card 99,442 95,062 Other revolving credit and installment 27,260 24,816 Total consumer 206,849 197,425 Total unfunded credit commitments $ 523,190 497,242 Allowance for Credit Losses The allowance for credit losses consists of the allowance for loan losses and the allowance for unfunded credit commitments. Changes in the allowance for credit losses were: Quarter ended September 30, Nine months ended September 30, (in millions) 2015 2014 2015 2014 Balance, beginning of period $ 12,614 13,834 13,169 14,971 Provision for credit losses 703 368 1,611 910 Interest income on certain impaired loans (1) (48 ) (52 ) (150 ) (163 ) Loan charge-offs: Commercial: Commercial and industrial (172 ) (157 ) (459 ) (466 ) Real estate mortgage (9 ) (11 ) (48 ) (47 ) Real estate construction — (3 ) (2 ) (7 ) Lease financing (5 ) (5 ) (11 ) (12 ) Total commercial (186 ) (176 ) (520 ) (532 ) Consumer: Real estate 1-4 family first mortgage (145 ) (167 ) (394 ) (583 ) Real estate 1-4 family junior lien mortgage (159 ) (202 ) (501 ) (671 ) Credit card (259 ) (236 ) (821 ) (769 ) Automobile (186 ) (192 ) (531 ) (515 ) Other revolving credit and installment (160 ) (160 ) (465 ) (508 ) Total consumer (909 ) (957 ) (2,712 ) (3,046 ) Total loan charge-offs (1,095 ) (1,133 ) (3,232 ) (3,578 ) Loan recoveries: Commercial: Commercial and industrial 50 90 192 290 Real estate mortgage 32 48 97 116 Real estate construction 8 61 25 108 Lease financing 2 1 6 6 Total commercial 92 200 320 520 Consumer: Real estate 1-4 family first mortgage 83 53 182 162 Real estate 1-4 family junior lien mortgage 70 62 195 179 Credit card 43 35 123 126 Automobile 73 80 249 267 Other revolving credit and installment 31 35 102 114 Total consumer 300 265 851 848 Total loan recoveries 392 465 1,171 1,368 Net loan charge-offs (2) (703 ) (668 ) (2,061 ) (2,210 ) Allowances related to business combinations/other (4 ) (1 ) (7 ) (27 ) Balance, end of period $ 12,562 13,481 12,562 13,481 Components: Allowance for loan losses $ 11,659 12,681 11,659 12,681 Allowance for unfunded credit commitments 903 800 903 800 Allowance for credit losses (3) $ 12,562 13,481 12,562 13,481 Net loan charge-offs (annualized) as a percentage of average total loans (2) 0.31 % 0.32 0.31 0.36 Allowance for loan losses as a percentage of total loans (3) 1.29 1.51 1.29 1.51 Allowance for credit losses as a percentage of total loans (3) 1.39 1.61 1.39 1.61 (1) Certain impaired loans with an allowance calculated by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize reductions in the allowance as interest income. (2) For PCI loans, charge-offs are only recorded to the extent that losses exceed the purchase accounting estimates. (3) The allowance for credit losses includes $5 million and $11 million at September 30, 2015 and 2014 , respectively, related to PCI loans acquired from Wachovia. Loans acquired from Wachovia are included in total loans net of related purchase accounting net write-downs. The following table summarizes the activity in the allowance for credit losses by our commercial and consumer portfolio segments. 2015 2014 (in millions) Commercial Consumer Total Commercial Consumer Total Quarter ended September 30, Balance, beginning of period $ 6,279 6,335 12,614 6,400 7,434 13,834 Provision for credit losses 348 355 703 (9 ) 377 368 Interest income on certain impaired loans (3 ) (45 ) (48 ) (5 ) (47 ) (52 ) Loan charge-offs (186 ) (909 ) (1,095 ) (176 ) (957 ) (1,133 ) Loan recoveries 92 300 392 200 265 465 Net loan charge-offs (94 ) (609 ) (703 ) 24 (692 ) (668 ) Allowance related to business combinations/other (4 ) — (4 ) (1 ) — (1 ) Balance, end of period $ 6,526 6,036 12,562 6,409 7,072 13,481 Nine months ended September 30, Balance, beginning of period $ 6,377 6,792 13,169 6,103 8,868 14,971 Provision for credit losses 368 1,243 1,611 337 573 910 Interest income on certain impaired loans (12 ) (138 ) (150 ) (17 ) (146 ) (163 ) Loan charge-offs (520 ) (2,712 ) (3,232 ) (532 ) (3,046 ) (3,578 ) Loan recoveries 320 851 1,171 520 848 1,368 Net loan charge-offs (200 ) (1,861 ) (2,061 ) (12 ) (2,198 ) (2,210 ) Allowance related to business combinations/other (7 ) — (7 ) (2 ) (25 ) (27 ) Balance, end of period $ 6,526 6,036 12,562 6,409 7,072 13,481 The following table disaggregates our allowance for credit losses and recorded investment in loans by impairment methodology. Allowance for credit losses Recorded investment in loans (in millions) Commercial Consumer Total Commercial Consumer Total September 30, 2015 Collectively evaluated (1) $ 5,802 3,646 9,448 442,865 415,492 858,357 Individually evaluated (2) 719 2,390 3,109 3,696 20,443 24,139 PCI (3) 5 — 5 777 19,960 20,737 Total $ 6,526 6,036 12,562 447,338 455,895 903,233 December 31, 2014 Collectively evaluated (1) $ 5,482 3,706 9,188 409,560 404,263 813,823 Individually evaluated (2) 884 3,086 3,970 3,759 21,649 25,408 PCI (3) 11 — 11 1,507 21,813 23,320 Total $ 6,377 6,792 13,169 414,826 447,725 862,551 (1) Represents loans collectively evaluated for impairment in accordance with Accounting Standards Codification (ASC) 450-20, Loss Contingencies (formerly FAS 5), and pursuant to amendments by ASU 2010-20 regarding allowance for non-impaired loans. (2) Represents loans individually evaluated for impairment in accordance with ASC 310-10, Receivables (formerly FAS 114), and pursuant to amendments by ASU 2010-20 regarding allowance for impaired loans. (3) Represents the allowance and related loan carrying value determined in accordance with ASC 310-30 , Receivables – Loans and Debt Securities Acquired with Deteriorated Credit Quality (formerly SOP 03-3) and pursuant to amendments by ASU 2010-20 regarding allowance for PCI loans. Credit Quality We monitor credit quality by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the allowance for credit losses. The following sections provide the credit quality indicators we most closely monitor. The credit quality indicators are generally based on information as of our financial statement date, with the exception of updated Fair Isaac Corporation (FICO) scores and updated loan-to-value (LTV)/combined LTV (CLTV), which are obtained at least quarterly. Generally, these indicators are updated in the second month of each quarter, with updates no older than June 30, 2015 . See the “Purchased Credit-Impaired Loans” section of this Note for credit quality information on our PCI portfolio. COMMERCIAL CREDIT QUALITY INDICATORS In addition to monitoring commercial loan concentration risk, we manage a consistent process for assessing commercial loan credit quality. Generally, commercial loans are subject to individual risk assessment using our internal borrower and collateral quality ratings. Our ratings are aligned to Pass and Criticized categories. The Criticized category includes Special Mention, Substandard, and Doubtful categories which are defined by bank regulatory agencies. The following table provides a breakdown of outstanding commercial loans by risk category. Of the $7.9 billion in criticized commercial real estate (CRE) loans at September 30, 2015 , $1.3 billion has been placed on nonaccrual status and written down to net realizable collateral value. CRE loans have a high level of monitoring in place to manage these assets and mitigate loss exposure. (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total September 30, 2015 By risk category: Pass $ 274,581 113,436 20,956 11,645 420,618 Criticized 17,582 7,210 654 497 25,943 Total commercial loans (excluding PCI) 292,163 120,646 21,610 12,142 446,561 Total commercial PCI loans (carrying value) 71 606 100 — 777 Total commercial loans $ 292,234 121,252 21,710 12,142 447,338 December 31, 2014 By risk category: Pass $ 255,611 103,319 17,661 11,723 388,314 Criticized 16,109 7,416 896 584 25,005 Total commercial loans (excluding PCI) 271,720 110,735 18,557 12,307 413,319 Total commercial PCI loans (carrying value) 75 1,261 171 — 1,507 Total commercial loans $ 271,795 111,996 18,728 12,307 414,826 The following table provides past due information for commercial loans, which we monitor as part of our credit risk management practices. (in millions) Commercial and industrial Real estate mortgage Real estate construction Lease financing Total September 30, 2015 By delinquency status: Current-29 DPD and still accruing $ 290,597 119,250 21,419 12,084 443,350 30-89 DPD and still accruing 482 247 40 29 798 90+ DPD and still accruing 53 24 — — 77 Nonaccrual loans 1,031 1,125 151 29 2,336 Total commercial loans (excluding PCI) 292,163 120,646 21,610 12,142 446,561 Total commercial PCI loans (carrying value) 71 606 100 — 777 Total commercial loans $ 292,234 121,252 21,710 12,142 447,338 December 31, 2014 By delinquency status: Current-29 DPD and still accruing $ 270,624 109,032 18,345 12,251 410,252 30-89 DPD and still accruing 527 197 25 32 781 90+ DPD and still accruing 31 16 — — 47 Nonaccrual loans 538 1,490 187 24 2,239 Total commercial loans (excluding PCI) 271,720 110,735 18,557 12,307 413,319 Total commercial PCI loans (carrying value) 75 1,261 171 — 1,507 Total commercial loans $ 271,795 111,996 18,728 12,307 414,826 CONSUMER CREDIT QUALITY INDICATORS We have various classes of consumer loans that present unique risks. Loan delinquency, FICO credit scores and LTV for loan types are common credit quality indicators that we monitor and utilize in our evaluation of the appropriateness of the allowance for credit losses for the consumer portfolio segment. Many of our loss estimation techniques used for the allowance for credit losses rely on delinquency-based models; therefore, delinquency is an important indicator of credit quality and the establishment of our allowance for credit losses. The following table provides the outstanding balances of our consumer portfolio by delinquency status. (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total September 30, 2015 By delinquency status: Current-29 DPD $ 221,267 53,329 31,519 57,880 38,156 402,151 30-59 DPD 2,209 344 249 989 162 3,953 60-89 DPD 811 181 165 220 109 1,486 90-119 DPD 392 115 136 71 84 798 120-179 DPD 448 145 216 4 18 831 180+ DPD 3,536 403 1 — 13 3,953 Government insured/guaranteed loans (1) 22,763 — — — — 22,763 Total consumer loans (excluding PCI) 251,426 54,517 32,286 59,164 38,542 435,935 Total consumer PCI loans (carrying value) 19,885 75 — — — 19,960 Total consumer loans $ 271,311 54,592 32,286 59,164 38,542 455,895 December 31, 2014 By delinquency status: Current-29 DPD $ 208,642 58,182 30,356 54,365 35,356 386,901 30-59 DPD 2,415 398 239 1,056 180 4,288 60-89 DPD 993 220 160 235 111 1,719 90-119 DPD 488 158 136 78 82 942 120-179 DPD 610 194 227 5 21 1,057 180+ DPD 4,258 464 1 1 13 4,737 Government insured/guaranteed loans (1) 26,268 — — — — 26,268 Total consumer loans (excluding PCI) 243,674 59,616 31,119 55,740 35,763 425,912 Total consumer PCI loans (carrying value) 21,712 101 — — — 21,813 Total consumer loans $ 265,386 59,717 31,119 55,740 35,763 447,725 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. Loans insured/guaranteed by the FHA/VA and 90+ DPD totaled $12.6 billion at September 30, 2015 , compared with $16.2 billion at December 31, 2014 . Of the $5.6 billion of consumer loans not government insured/guaranteed that are 90 days or more past due at September 30, 2015 , $795 million was accruing, compared with $6.7 billion past due and $873 million accruing at December 31, 2014 . Real estate 1-4 family first mortgage loans 180 days or more past due totaled $3.5 billion , or 1.4% of total first mortgages (excluding PCI), at September 30, 2015 , compared with $4.3 billion , or 1.7% , at December 31, 2014 . The following table provides a breakdown of our consumer portfolio by updated FICO. We obtain FICO scores at loan origination and the scores are updated at least quarterly. The majority of our portfolio is underwritten with a FICO score of 680 and above. FICO is not available for certain loan types and may not be obtained if we deem it unnecessary due to strong collateral and other borrower attributes, primarily security-based loans of $6.7 billion at September 30, 2015 , and $5.9 billion at December 31, 2014 . (in millions) Real estate 1-4 family first mortgage Real estate 1-4 family junior lien mortgage Credit card Automobile Other revolving credit and installment Total September 30, 2015 By updated FICO: < 600 $ 9,459 3,163 2,799 8,945 918 25,284 600-639 7,210 2,484 2,760 6,633 1,069 20,156 640-679 13,416 4,806 5,128 10,003 2,337 35,690 680-719 24,678 8,176 6,540 10,871 4,396 54,661 720-759 37,147 11,327 6,673 8,149 5,943 69,239 760-799 91,670 16,802 5,386 7,687 8,296 129,841 800+ 41,613 6,892 2,767 6,461 6,406 64,139 No FICO available 3,470 867 233 415 2,450 7,435 FICO not required — — — — 6,727 6,727 Government insured/guaranteed loans (1) 22,763 — — — — 22,763 Total consumer loans (excluding PCI) 251,426 54,517 32,286 59,164 38,542 435,935 Total consumer PCI loans (carrying value) 19,885 75 — — — 19,960 Total consumer loans $ 271,311 54,592 32,286 59,164 38,542 455,895 December 31, 2014 By updated FICO: < 600 $ 11,166 4,001 2,639 8,825 894 27,525 600-639 7,866 2,794 2,588 6,236 1,058 20,542 640-679 13,894 5,324 4,931 9,352 2,366 35,867 680-719 24,412 8,970 6,285 9,994 4,389 54,050 720-759 35,490 12,171 6,407 7,475 5,896 67,439 760-799 82,123 17,897 5,234 7,315 7,673 120,242 800+ 39,219 7,581 2,758 6,184 5,819 61,561 No FICO available 3,236 878 277 359 1,814 6,564 FICO not required — — — — 5,854 5,854 Government insured/guaranteed loans (1) 26,268 — — — — 26,268 Total consumer loans (excluding PCI) 243,674 59,616 31,119 55,740 35,763 425,912 Total consumer PCI loans (carrying value) 21,712 101 — — — 21,813 Total consumer loans $ 265,386 59,717 31,119 55,740 35,763 447,725 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. LTV refers to the ratio comparing the loan’s unpaid principal balance to the property’s collateral value. CLTV refers to the combination of first mortgage and junior lien mortgage (including unused line amounts for credit line products) ratios. LTVs and CLTVs are updated quarterly using a cascade approach which first uses values provided by automated valuation models (AVMs) for the property. If an AVM is not available, then the value is estimated using the original appraised value adjusted by the change in Home Price Index (HPI) for the property location. If an HPI is not available, the original appraised value is used. The HPI value is normally the only method considered for high value properties, generally with an original value of $1 million or more, as the AVM values have proven less accurate for these properties. The following table shows the most updated LTV and CLTV distribution of the real estate 1-4 family first and junior lien mortgage loan portfolios. We consider the trends in residential real estate markets as we monitor credit risk and establish our allowance for credit losses. In the event of a default, any loss should be limited to the portion of the loan amount in excess of the net realizable value of the underlying real estate collateral value. Certain loans do not have an LTV or CLTV primarily due to industry data availability and portfolios acquired from or serviced by other institutions. September 30, 2015 December 31, 2014 (in millions) Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total Real estate 1-4 family first mortgage by LTV Real estate 1-4 family junior lien mortgage by CLTV Total By LTV/CLTV: 0-60% $ 108,005 15,861 123,866 95,719 15,603 111,322 60.01-80% 89,604 16,754 106,358 86,112 17,651 103,763 80.01-100% 22,671 11,899 34,570 25,170 14,004 39,174 100.01-120% (1) 4,604 5,817 10,421 6,133 7,254 13,387 > 120% (1) 2,182 3,155 5,337 2,856 4,058 6,914 No LTV/CLTV available 1,597 1,031 2,628 1,416 1,046 2,462 Government insured/guaranteed loans (2) 22,763 — 22,763 26,268 — 26,268 Total consumer loans (excluding PCI) 251,426 54,517 305,943 243,674 59,616 303,290 Total consumer PCI loans (carrying value) 19,885 75 19,960 21,712 101 21,813 Total consumer loans $ 271,311 54,592 325,903 265,386 59,717 325,103 (1) Reflects total loan balances with LTV/CLTV amounts in excess of 100%. In the event of default, the loss content would generally be limited to only the amount in excess of 100% LTV/CLTV. (2) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. NONACCRUAL LOANS The following table provides loans on nonaccrual status. PCI loans are excluded from this table because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. (in millions) Sep 30, Dec 31, Commercial: Commercial and industrial $ 1,031 538 Real estate mortgage 1,125 1,490 Real estate construction 151 187 Lease financing 29 24 Total commercial (1) 2,336 2,239 Consumer: Real estate 1-4 family first mortgage (2) 7,425 8,583 Real estate 1-4 family junior lien mortgage 1,612 1,848 Automobile 123 137 Other revolving credit and installment 41 41 Total consumer 9,201 10,609 Total nonaccrual loans (excluding PCI) $ 11,537 12,848 (1) Includes LHFS of $0 million at September 30, 2015 and $1 million at December 31, 2014 . (2) Includes MHFS of $96 million and $177 million at September 30, 2015 , and December 31, 2014 , respectively. LOANS IN PROCESS OF FORECLOSURE Our recorded investment in consumer mortgage loans collateralized by residential real estate property that are in process of foreclosure was $11.8 billion and $12.7 billion at September 30, 2015 and December 31, 2014 , respectively, which included $6.4 billion and $6.6 billion , respectively, of loans that are government insured/guaranteed. We commence the foreclosure process on consumer real estate loans when a borrower becomes 120 days delinquent in accordance with Consumer Finance Protection Bureau Guidelines. Foreclosure procedures and timelines vary depending on whether the property address resides in a judicial or non-judicial state. Judicial states require the foreclosure to be processed through the state’s courts while non-judicial states are processed without court intervention. Foreclosure timelines vary according to state law. LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING Certain loans 90 days or more past due as to interest or principal are still accruing, because they are (1) well-secured and in the process of collection or (2) real estate 1-4 family mortgage loans or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due. PCI loans of $3.2 billion at September 30, 2015 , and $3.7 billion at December 31, 2014 , are not included in these past due and still accruing loans even though they are 90 days or more contractually past due. These PCI loans are considered to be accruing because they continue to earn interest from accretable yield, independent of performance in accordance with their contractual terms. The following table shows non-PCI loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed. (in millions) Sep 30, 2015 Dec 31, 2014 Loans 90 days or more past due and still accruing: Total (excluding PCI): $ 14,405 17,810 Less: FHA insured/guaranteed by the VA (1)(2) 13,500 16,827 Less: Student loans guaranteed under the FFELP (3) 33 63 Total, not government insured/guaranteed $ 872 920 By segment and class, not government insured/guaranteed: Commercial: Commercial and industrial $ 53 31 Real estate mortgage 24 16 Real estate construction — — Total commercial 77 47 Consumer: Real estate 1-4 family first mortgage (2) 216 260 Real estate 1-4 family junior lien mortgage (2) 61 83 Credit card 353 364 Automobile 66 73 Other revolving credit and installment 99 93 Total consumer 795 873 Total, not government insured/guaranteed $ 872 920 (1) Represents loans whose repayments are predominantly insured by the FHA or guaranteed by the VA. (2) Includes mortgage loans held for sale 90 days or more past due and still accruing. (3) Represents loans whose repayments are predominantly guaranteed by agencies on behalf of the U.S. Department of Education under the FFELP. IMPAIRED LOANS The table below summarizes key information for impaired loans. Our impaired loans predominantly include loans on nonaccrual status in the commercial portfolio segment and loans modified in a TDR, whether on accrual or nonaccrual status. These impaired loans generally have estimated losses which are included in the allowance for credit losses. We have impaired loans with no allowance for credit losses when loss content has been previously recognized through charge-offs and we do not anticipate additional charge-offs or losses, or certain loans are currently performing in accordance with their terms and for which no loss has been estimated. Impaired loans exclude PCI loans. The table below includes trial modifications that totaled $421 million at September 30, 2015 , and $452 million at December 31, 2014 . For additional information on our impaired loans and allowance for credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2014 Form 10-K. Recorded investment (in millions) Unpaid principal balance (1) Impaired loans Impaired loans with related allowance for credit losses Related allowance for credit losses September 30, 2015 Commercial: Commercial and industrial $ 2,090 1,416 1,209 252 Real estate mortgage 2,623 2,036 1,950 415 Real estate construction 343 214 195 44 Lease financing 42 30 30 8 Total commercial 5,098 3,696 3,384 719 Consumer: Real estate 1-4 family first mortgage 20,055 17,508 11,393 1,816 Real estate 1-4 family junior lien mortgage 2,743 2,450 1,894 464 Credit card 307 307 307 95 Automobile 174 109 41 6 Other revolving credit and installment 76 69 62 9 Total consumer (2) 23,355 20,443 13,697 2,390 Total impaired loans (excluding PCI) $ 28,453 24,139 17,081 3,109 December 31, 2014 Commercial: Commercial and industrial $ 1,524 926 757 240 Real estate mortgage 3,190 2,483 2,405 591 Real estate construction 491 331 308 45 Lease financing 33 19 19 8 Total commercial 5,238 3,759 3,489 884 Consumer: Real estate 1-4 family first mortgage 21,324 18,600 12,433 2,322 Real estate 1-4 family junior lien mortgage 3,094 2,534 2,009 653 Credit card 338 338 338 98 Automobile 190 127 55 8 Other revolving credit and installment 60 50 42 5 Total consumer (2) 25,006 21,649 14,877 3,086 Total impaired loans (excluding PCI) $ 30,244 25,408 18,366 3,970 (1) Excludes the unpaid principal balance for loans that have been fully charged off or otherwise have zero recorded investment. (2) Periods ended September 30, 2015 and December 31, 2014 each include the recorded investment of $1.8 billion and $2.1 billion , respectively, of government insured/guaranteed loans that are predominantly insured by the FHA or guaranteed by the VA and generally do not have an allowance. Commitments to lend additional funds on loans whose terms have been modified in a TDR amounted to $330 million and $341 million at September 30, 2015 and December 31, 2014 , respectively. The following tables provide the average recorded investment in impaired loans and the amount of interest income recognized on impaired loans by portfolio segment and class. Quarter ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (in millions) Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Average recorded investment Recognized interest income Commercial: Commercial and industrial $ 1,407 21 1,082 22 1,108 64 1,156 60 Real estate mortgage 2,109 34 2,856 42 2,241 108 3,043 107 Real estate construction 232 7 407 7 260 22 485 22 Lease financing 27 — 26 1 24 — 30 1 Total commercial 3,775 62 4,371 72 3,633 194 4,714 190 Consumer: Real estate 1-4 family first mortgage 17,761 231 19,104 232 18,125 697 18,954 707 Real estate 1-4 family junior lien mortgage 2,467 34 2,555 36 2,499 103 2,552 107 Credit card 310 10 367 11 321 30 392 35 Automobile 111 3 144 4 118 11 161 15 Other revolving credit and installment 61 1 41 1 57 3 38 3 Total consumer 20,710 279 22,211 284 21,120 844 22,097 867 Total impaired loans (excluding PCI) $ 24,485 341 26,582 356 24,753 1,038 26,811 1,057 Interest income: Cash basis of accounting $ 104 115 323 314 Other (1) 237 241 715 743 Total interest income $ 341 356 1,038 1,057 (1) Includes interest recognized on accruing TDRs, interest recognized related to certain impaired loans which have an allowance calculated using discounting, and amortization of purchase accounting adjustments related to certain impaired loans. TROUBLED DEBT RESTRUCTURINGS (TDRs) When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a TDR. We do not consider any loans modified through a loan resolution such as foreclosure or short sale to be a TDR. We may require some consumer borrowers experiencing financial difficulty to make trial payments generally for a period of three to four months, according to the terms of a planned permanent modification, to determine if they can perform according to those terms. These arrangements represent trial modifications, which we classify and account for as TDRs. While loans are in trial payment programs, their original terms are not considered modified and they continue to advance through delinquency st |