Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited)

The following table represents summarized data for each of the quarters in 2015, 2014 and 2013. 
 
2015
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(Dollars in millions, except per share data)
Interest income
$
79

 
$
90

 
$
91

 
$
95

Interest expense
14

 
17

 
18

 
19

Net interest income
65

 
73

 
73

 
76

Benefit for loan losses
(4
)
 
(13
)
 
(1
)
 
(1
)
Net interest income after provision for loan losses
69

 
86

 
74

 
77

Net gain on loan sales
91

 
83

 
68

 
46

Loan fees and charges
17

 
19

 
17

 
14

Loan administration income
4

 
7

 
8

 
7

Net (loss) return on the mortgage servicing assets
(2
)
 
9

 
12

 
9

Representation and warranty benefit
2

 
5

 
6

 
6

Other noninterest income
7

 
3

 
17

 
15

Noninterest expense
138

 
138

 
131

 
129

Income before income tax
50

 
74

 
71

 
45

Provision for income taxes
18

 
28

 
24

 
12

Net income from continuing operations
$
32

 
$
46

 
$
47

 
$
33

Basic income per share
$
0.43

 
$
0.69

 
$
0.70

 
$
0.45

Diluted income per share
$
0.43

 
$
0.68

 
$
0.69

 
$
0.44

 
 
2014
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(Dollars in millions, except per share data)
Interest income
$
66

 
$
72

 
$
75

 
$
72

Interest expense
8

 
9

 
11

 
11

Net interest income
58

 
63

 
64

 
61

Provision for loan losses
112

 
6

 
8

 
5

Net interest (expense) income after provision for loan losses
(54
)
 
57

 
56

 
56

Net gain on loan sales
45

 
55

 
52

 
53

Loan administration income
7

 
6

 
6

 
5

Net return on the mortgage servicing assets
16

 
5

 
1

 
2

Representation and warranty benefit (provision)
2

 
(5
)
 
(13
)
 
6

Other noninterest income
5

 
42

 
39

 
32

Noninterest expense
139

 
122

 
179

 
139

(Loss) income before income tax
(118
)
 
38

 
(38
)
 
15

(Benefit) provision for income taxes
(40
)
 
12

 
(10
)
 
4

Net (loss) income
(78
)
 
26

 
(28
)
 
11

Preferred stock dividends/accretion
(1
)
 
—

 
—

 
—

Net (loss) income from continuing operations
$
(79
)
 
$
26

 
$
(28
)
 
$
11

Basic (loss) income per share
$
(1.51
)
 
$
0.33

 
$
(0.61
)
 
$
0.07

Diluted (loss) income per share
$
(1.51
)
 
$
0.33

 
$
(0.61
)
 
$
0.07

 
2013
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(Dollars in millions, except per share data)
Interest income
$
95

 
$
85

 
$
79

 
$
72

Interest expense
39

 
38

 
36

 
31

Net interest income
56

 
47

 
43

 
41

Provision for loan losses
21

 
31

 
4

 
14

Net interest income after provision for loan losses
35

 
16

 
39

 
27

Net gain on loan sales
137

 
144

 
75

 
45

Loan administration income
1

 
1

 
1

 
3

Net return on the mortgage servicing assets
15

 
31

 
27

 
17

Representation and warranty (provision) benefit
(17
)
 
(29
)
 
(5
)
 
15

Other noninterest income
49

 
72

 
35

 
33

Noninterest expense
197

 
174

 
158

 
388

Income (loss) before income tax
23

 
61

 
14

 
(248
)
Benefit for income taxes
—

 
(6
)
 
—

 
(410
)
Net income
23

 
67

 
14

 
162

Preferred stock dividends/accretion
(1
)
 
(1
)
 
(1
)
 
(2
)
Net income from continuing operations
$
22

 
$
66

 
$
13

 
$
160

Basic income per share
$
0.33

 
$
1.11

 
$
0.16

 
$
2.79

Diluted income per share
$
0.33

 
$
1.10

 
$
0.16

 
$
2.77