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LOANS AND LEASES | 3 Months Ended
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Mar. 31, 2020
Receivables [Abstract] |
LOANS AND LEASES | NOTE 3 - LOANS AND LEASES Loans held for investment are reported at the amount of their outstanding principal, net of charge-offs, unearned income, deferred loan origination fees and costs, and unamortized premiums or discounts on purchased loans. Loans and leases are disclosed in portfolio segments and classes. The Company’s loan and lease portfolio segments are commercial and retail. The classes of loans and leases are: commercial, commercial real estate, leases, residential mortgages, home equity, automobile, education and other retail. The following table presents the Company’s loans and leases disclosed in portfolio segments and classes:
(in millions) | March 31, 2020 |  | December 31, 2019
Commercial(1) |  | $49,092 |  |  |  | $41,479 |
Commercial real estate | 14,502 |  |  | 13,522 |
Leases | 2,438 |  |  | 2,537 |
Total commercial loans and leases | 66,032 |  |  | 57,538 |
Residential mortgages | 18,721 |  |  | 19,083 |
Home equity | 12,992 |  |  | 13,154 |
Automobile | 12,157 |  |  | 12,120 |
Education | 10,887 |  |  | 10,347 |
Other retail | 6,739 |  |  | 6,846 |
Total retail loans(2) | 61,496 |  |  | 61,550 |
Total loans and leases(3) |  | $127,528 |  |  |  | $119,088 |
(1) SBA loans serviced for others of $43 million and $33 million at March 31, 2020 and December 31, 2019, respectively, are not included above. These loans represent the government guaranteed portion of SBA loans sold to outside investors. (2) Mortgage loans serviced for others of $79.2 billion and $77.5 billion at March 31, 2020 and December 31, 2019, respectively, are not included above. (3) LHFS totaling $3.3 billion at both March 31, 2020 and December 31, 2019 are not included above. Accrued interest receivable on loans and leases held for investment totaled $507 million and $495 million as of March 31, 2020 and December 31, 2019, respectively, and is included in other assets in the Consolidated Balance Sheets. The following table presents the composition of LHFS.
| March 31, 2020 |  | December 31, 2019
(in millions) | Residential Mortgages(1) | Commercial(2) | Total |  | Residential Mortgages(1) | Commercial(2) | Total
Loans held for sale at fair value |  | $2,708 |  |  | $203 |  |  | $2,911 |  |  |  | $1,778 |  |  | $168 |  |  | $1,946 |
Other loans held for sale | — |  | 350 |  | 350 |  |  | 1,101 |  | 283 |  | 1,384 |
(1) Residential mortgage LHFS at fair value are originated for sale. (2) LHFS at fair value consist of loans managed by the Company’s commercial secondary loan desk. Other LHFS generally consist of commercial loans associated with the Company’s syndication business. Loans pledged as collateral for FHLB borrowed funds, primarily residential mortgages and home equity loans, totaled $25.3 billion at March 31, 2020 and December 31, 2019. Loans pledged as collateral to support the contingent ability to borrow at the FRB discount window, if necessary, were primarily comprised of auto, commercial and commercial real estate loans, and totaled $17.3 billion and $17.4 billion at March 31, 2020 and December 31, 2019, respectively. During the three months ended March 31, 2020, the Company purchased $218 million of education loans and $272 million of other retail loans. During the three months ended March 31, 2019, the Company purchased $201 million of education loans. During the three months ended March 31, 2020, the Company sold $191 million of commercial loans and $1.5 billion of retail loans. During the three months ended March 31, 2019 the Company sold $182 million of commercial loans and $22 million of retail TDRs. Interest income on direct financing and sales-type leases for the three months ended March 31, 2020 and 2019 was $18 million and $20 million, respectively, and is reported within interest and fees on loans and leases in the Consolidated Statements of Operations.

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- Definition The entire disclosure for claims held for amounts due a company, excluding disclosure for allowance for credit losses. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Also excludes disclosure for financing receivables. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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