Total number of loan modifications

  
Credit Quality InformationNonperforming loans were $9 million and $21 million as of December 31, 2021 and 2020, respectively. All other loans were considered to be performing.Commercial LoansCommercial Mortgage LoansThe Company reviews the credit worthiness of the borrower and the performance of the underlying properties in order to determine the risk of loss on commercial mortgage loans. Loan-to-value ratio is the primary credit quality indicator included in this review. Based on this review, the commercial mortgage loans are assigned an internal risk rating, which management updates when credit risk changes. Commercial mortgage loans which management has assigned its highest risk rating were less than 1% of total commercial mortgage loans as of both December 31, 2021 and 2020. Loans with the highest risk rating represent distressed loans which the Company has identified as impaired or expects to become delinquent or enter into foreclosure within the next six months. Total commercial mortgage loan modifications through December 31, 2020 due to the COVID-19 pandemic consisted of 93 loans with a total unpaid balance of $369 million. Modifications primarily consisted of short-term forbearance and interest only payments. There were no additional modifications during the year ended December 31, 2021. As of December 31, 2021, there were no loans remaining that were modified due to COVID-19. All loans returned to their normal payment schedules. Total commercial mortgage loans past due were nil as of December 31, 2021 and 2020, respectively.The tables below present the amortized cost basis of commercial mortgage loans by the year of origination and loan-to-value ratio: 

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|  |  | December 31, 2021 |
| Loan-to-Value Ratio |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Total |
|  | (in millions) |
| > 100% |  | $ | —  |  |  | $ | —  |  |  | $ | 20  |  |  | $ | 10  |  |  | $ | —  |  |  | $ | 29  |  |  | $ | 59  |  |
| 80% - 100% |  | 9  |  |  | 2  |  |  | 9  |  |  | 2  |  |  | —  |  |  | 29  |  |  | 51  |  |
| 60% - 80% |  | 142  |  |  | 80  |  |  | 60  |  |  | 23  |  |  | 61  |  |  | 138  |  |  | 504  |  |
| 40% - 60% |  | 42  |  |  | 33  |  |  | 86  |  |  | 74  |  |  | 57  |  |  | 401  |  |  | 693  |  |
| < 40% |  | 11  |  |  | 8  |  |  | 48  |  |  | 6  |  |  | 58  |  |  | 478  |  |  | 609  |  |
| Total |  | $ | 204  |  |  | $ | 123  |  |  | $ | 223  |  |  | $ | 115  |  |  | $ | 176  |  |  | $ | 1,075  |  |  | $ | 1,916  |  |

  


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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | December 31, 2020 |
| Loan-to-Value Ratio |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Total |
|  | (in millions) |
| > 100% |  | $ | —  |  |  | $ | —  |  |  | $ | 2  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 10  |  |  | $ | 12  |  |
| 80% - 100% |  | 15  |  |  | 16  |  |  | 12  |  |  | 3  |  |  | 7  |  |  | 15  |  |  | 68  |  |
| 60% - 80% |  | 89  |  |  | 166  |  |  | 27  |  |  | 32  |  |  | 46  |  |  | 144  |  |  | 504  |  |
| 40% - 60% |  | 23  |  |  | 57  |  |  | 74  |  |  | 155  |  |  | 113  |  |  | 551  |  |  | 973  |  |
| < 40% |  | 7  |  |  | 23  |  |  | 80  |  |  | 99  |  |  | 64  |  |  | 895  |  |  | 1,168  |  |
| Total |  | $ | 134  |  |  | $ | 262  |  |  | $ | 195  |  |  | $ | 289  |  |  | $ | 230  |  |  | $ | 1,615  |  |  | $ | 2,725  |  |

Loan-to-value ratio is based on income and expense data provided by borrowers at least annually and long-term capitalization rate assumptions based on property type.        102
