v3.25.2
Mortgage Servicing Rights (Tables)
6 Months Ended
Jun. 30, 2025
Transfers and Servicing [Abstract]  
Changes in Fair Value of the Company's MSR Portfolio
The following table presents changes in the fair value of the Company's MSR portfolio related to its mortgage banking business and other information related to its servicing portfolio:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in millions)
Balance, beginning of period$1,241 $1,178 $1,127 $1,124 
Additions from loans sold with servicing rights retained284 214 545 403 
Carrying value of MSRs sold(452)(241)(535)(397)
Change in fair value23 32 3 92 
Realization of cash flows(52)(38)(96)(77)
Balance, end of period$1,044 $1,145 $1,044 $1,145 
June 30, 2025December 31, 2024
(in millions)
Unpaid principal balance of mortgage loans serviced for others$59,441 $61,089 
Effect of Hypothetical Changes in the Fair Value of MSRs
The following table presents the effect of hypothetical changes in the fair value of MSRs caused by assumed immediate changes in the below inputs that are used to determine fair value:
June 30, 2025
(in millions)
Fair value of mortgage servicing rights$1,044 
Increase (decrease) in fair value resulting from:
Interest rate change of 50 basis points
Adverse change(92)
Favorable change76 
Option adjusted spread change of 50 basis points
Increase(23)
Decrease24 
Conditional prepayment rate change of 1%
Increase(34)
Decrease38 
Cost to service change of 10%
Increase(9)
Decrease10