v3.26.1
Mortgage Servicing Rights (Tables)
3 Months Ended
Mar. 31, 2026
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 MSR portfolio related to the Company's mortgage banking business and other information related to its servicing portfolio:
Three Months Ended March 31,
20262025
(in millions)
Balance, beginning of period$1,494 $1,127 
Additions from loans sold with servicing rights retained295 260 
Carrying value of MSRs sold(211)(83)
Change in fair value22 (20)
Realization of cash flows(84)(43)
Balance, end of period$1,516 $1,241 
Unpaid principal balance of mortgage loans serviced for others$75,083 $70,563 
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 adverse changes in the below inputs that are used to determine fair value:
March 31, 2026
(in millions)
Fair value of mortgage servicing rights$1,516 
Decrease in fair value resulting from adverse changes in:
Option adjusted spread
10% change(26)
20% change(51)
Conditional prepayment rate
10% change(54)
20% change(103)
Cost to service
10% change(13)
20% change(26)