a disposition strategy that results in the highest recovery on a net present value basis , thus protecting the interests of the trust and its investors .see note 9 goodwill and other intangible assets for additional information regarding servicing assets .with our acquisition of national city on december 31 , 2008 , we acquired residual and other interests associated with national city 2019s credit card , automobile , mortgage , and sba loans securitizations .in addition , we also assumed certain continuing involvement activities in these securitization transactions .the credit card , automobile , and mortgage securitizations were transacted through qspes sponsored by national city .these qspes were financed primarily through the issuance and sale of beneficial interests to independent third parties and were not consolidated on national city 2019s balance sheet .consolidation of these qspes could be considered if circumstances or events subsequent to the securitization transaction dates would cause the entities to lose their 201cqualified 201d status .no such events have occurred .qualitative and quantitative information about these securitizations follows .the following summarizes the assets and liabilities of the national city-sponsored securitization qspes at december 31 , 2008. .
[['( in millions )', 'credit card', 'automobile', 'mortgage'], ['assets ( a )', '$ 2129', '$ 250', '$ 319'], ['liabilities', '1824', '250', '319']]
( a ) represents period-end outstanding principal balances of loans transferred to the securitization qspes .credit card loans at december 31 , 2008 , national city 2019s credit card securitization series 2005-1 , 2006-1 , 2007-1 , 2008-1 , 2008-2 , and 2008-3 were outstanding .our continuing involvement in the securitized credit cards receivables consists primarily of servicing and a pro-rata undivided interest in all credit card receivables , or seller 2019s interest , in the qspe .servicing fees earned approximate current market rates for servicing fees ; therefore , no servicing asset or liability existed at december 31 , 2008 .we hold a clean-up call repurchase option to the extent a securitization series extends past its scheduled note principal payoff date .to the extent this occurs , the clean-up call option is triggered when the principal balance of the asset-backed notes of any series reaches 5% ( 5 % ) of the initial principal balance of the asset-back notes issued at the securitization date .our seller 2019s interest ranks equally with the investors 2019 interests in the trust .as the amount of the assets in the securitized pool fluctuates due to customer payments , purchases , cash advances , and credit losses , the carrying amount of the seller 2019s interest will vary .however , we are required to maintain seller 2019s interest at a minimum level of 5% ( 5 % ) of the initial invested amount in each series to ensure sufficient assets are available for allocation to the investors 2019 interests .seller 2019s interest , which is recognized in portfolio loans on the consolidated balance sheet , was well above the minimum level at december 31 , 2008 .retained interests acquired consisted of seller 2019s interest , an interest-only strip , and asset-backed securities issued by the credit card securitization qspe .the initial carrying values of these retained interests were determined based upon their fair values at december 31 , 2008 .seller 2019s interest is recognized in portfolio loans on the consolidated balance sheet and totaled approximately $ 315 million at december 31 , 2008 .the interest-only strips are recognized in other assets on the consolidated balance sheet and totaled approximately $ 20 million at december 31 , 2008 .the asset-backed securities are recognized in investment securities on the consolidated balance sheet and totaled approximately $ 25 million at december 31 , 2008 .these retained interests represent the maximum exposure to loss associated with our involvement in this securitization .automobile loans at december 31 , 2008 , national city 2019s auto securitization 2005-a was outstanding .our continuing involvement in the securitized automobile loans consists primarily of servicing and limited requirements to repurchase transferred loans for breaches of representations and warranties .as servicer , we hold a cleanup call on the serviced loans which gives us an option to repurchase the transferred loans when their outstanding principal balances reach 5% ( 5 % ) of the initial outstanding principal balance of the automobile loans securitized .the class a notes issued by national city 2019s 2005-a auto securitization were purchased by a third-party commercial paper conduit .national city 2019s subsidiary , national city bank , along with other financial institutions , agreed to provide backup liquidity to the conduit .the conduit holds various third-party assets including beneficial interests in the cash flows of trade receivables , credit cards and other financial assets .the conduit has no interests in subprime mortgage loans .the conduit relies upon commercial paper for its funding .in the event of a disruption in the commercial paper markets , the conduit could experience a liquidity event .at such time , the conduit may require national city bank to purchase a 49% ( 49 % ) interest in a note representing a beneficial interest in national city 2019s securitized automobile loans .another financial institution , affiliated with the conduit , has committed to purchase the remaining 51% ( 51 % ) interest in this same note .upon the conduit 2019s request , national city bank would pay cash equal to the par value of the notes , less the corresponding portion of all defaulted loans , plus accrued interest .in return , national city bank would be entitled to undivided interest in the cash flows of the collateral underlying the note .national city bank receives an annual commitment fee of 7 basis points for providing this backup .

Question: for national city-sponsored securitization qspes at december 31 , 2008 , automobile was what percent of credit card assets?
Answer: 11.7%