Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 195

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 13
Chunk 195
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,736 Proceeds from transfer (2)2,235 3,624 2,016 3,789 Net gains (losses) on sale— 28 — 53 Continuing involvement (3):Servicing rights recognized$26 22 19 16 Securities recognized (4)— 106 — 48 Six months ended June 30,Assets sold $4,117 4,271 3,700 5,285 Proceeds from transfer (2)4,117 4,310 3,700 5,359 Net gains (losses) on sale— 39 — 74 Continuing involvement (3):Servicing rights recognized$50 33 35 26 Securities recognized (4)— 106 — 48 (1)In first quarter 2025, we sold the non-agency portion of our commercial mortgage third-party servicing business.(2)Represents cash proceeds and the fair value of non-cash beneficial interests recognized at securitization settlement.(3)Represents assets or liabilities recognized at securitization settlement date related to our continuing involvement in the transferred assets.(4)Represents debt securities obtained at securitization settlement held for investment purposes that are classified as available-for-sale or held-to-maturity. Excludes trading debt securities held temporarily for market-marking purposes, which are sold to third parties at or shortly after securitization settlement, of $1.3 billion and $1.8 billion during the second quarter and first half of 2025, respectively, and $1.1 billion and $1.7 billion during the second quarter and first half of 2024, respectively.In the normal course of business, we purchase certain non-agency securities at initial securitization or subsequently in the secondary market, which we hold for investment. We may also provide seller financing in the form of loans. We received cash flows of $4 million and $10 million during the second quarter and first half of 2025, respectively, and $34 million and $192 million during the second quarter and first half of 2024, respectively, for VIEs with significant continuing involvement, related to principal and interest payments on these securities and loans. These amounts exclude cash flows related to trading activities.Table 13.2 presents the key weighted-average assumptions we used to initially measure residential MSRs recognized during the periods presented.Table 13.2:  Residential