Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 16

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 7
Chunk 16
---
 second mortgages, credit risk is managed by adherence to LTV and borrower credit criteria during the underwriting process. The Company estimates updated LTV information on its outstanding residential mortgages quarterly, based on a method that combines automated valuation model updates and relevant home price indices. LTV is the ratio of the loan’s outstanding principal balance to the current estimate of property value. For home equity and second mortgages, combined loan-to-value (“CLTV”) is the combination of the first mortgage original principal balance and the second lien outstanding principal balance, relative to the current estimate 

10U.S. Bancorp

of property value. Certain loans do not have an LTV or CLTV, primarily due to lack of availability of relevant automated valuation model and/or home price indices values, or lack of necessary valuation data on acquired loans. The following tables provide summary information of residential mortgages and home equity and second mortgages by LTV at September 30, 2025:Residential Mortgages (Dollars in Millions)Interest OnlyAmortizingTotalPercent of TotalLoan-to-ValueLess than or equal to 80%$11,935 $90,204 $102,139 88.8 %Over 80% through 90%194 4,475 4,669 4.1 Over 90% through 100%27 822 849 .7 Over 100%4 341 345 .3 No LTV available— 6 6 — Loans purchased from GNMA mortgage pools(a)— 7,038 7,038 6.1 Total$12,160 $102,886 $115,046 100.0 %(a)Represents loans purchased and loans that could be purchased from Government National Mortgage Association (“GNMA”) mortgage pools under delinquent loan repurchase options whose payments are primarily insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs. Home Equity and Second Mortgages (Dollars in Millions)LinesLoansTotalPercent of TotalLoan-to-Value / Combined Loan-to-ValueLess than or equal to 80%$10,481 $2,767 $13,248 95.6 %Over 80% through 90%406 99 505 3.6 Over 90% through 100%52 15 67 .5 Over 100%17 4 21 .2 No LTV/CL