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PNC » Topics » N OTE 8 C OMMERCIAL M ORTGAGE L OAN S ALES AND R ETAINED I NTERESTS

This excerpt taken from the PNC 10-K filed Feb 29, 2008.

NOTE 8 COMMERCIAL MORTGAGE LOAN SALES AND RETAINED INTERESTS

We sold commercial mortgage loans with servicing retained of $3.4 billion in 2007, $3.1 billion in 2006 and $3.4 billion in 2005 for cash in loan sales transactions. These transactions resulted in pretax net gains of $39 million in 2007, $55 million in 2006 and $61 million in 2005.

For the transactions above, we continue to perform servicing and recognized servicing assets of $26 million in 2007, $24 million in 2006 and $23 million in 2005. See Note 7 Goodwill and Other Intangible Assets for additional information regarding servicing assets.

Changes in the commercial mortgage loan servicing assets were as follows:

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