Company: BOKF
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000875357-25-000013
Chunk: 70

Company: BOK FINANCIAL CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 70
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Residential mortgage loan commitments36,590 1,119 34,783 1,379 Forward sales contracts82,000 473 75,448 (901)  $77,561  $56,935 No residential mortgage loans held for sale were 90 days or more past due or considered impaired as of December 31, 2024 or December 31, 2023. No credit losses were recognized on residential mortgage loans held for sale for the years ended December 31, 2024, 2023 and 2022.Mortgage banking revenue was as follows (in thousands): Year Ended 202420232022Production revenue:  Net realized gain (loss) on sales of mortgage loans$8,271 $(5,021)$7,416 Net change in unrealized gain (loss) on mortgage loans held for sale(646)538 (4,468)Net change in the fair value of mortgage loan commitments(260)325 (5,113)Net change in the fair value of forward sales contracts1,374 (1,181)327 Total mortgage production revenue8,739 (5,339)(1,838)Servicing revenue65,368 61,037 51,203 Total mortgage banking revenue$74,107 $55,698 $49,365 Mortgage production revenue includes gain (loss) on residential mortgage loans held for sale, changes in the fair value of derivative contracts not designated as hedging instruments related to residential mortgage loan commitments, and forward sales contracts. Servicing revenue includes servicing fee income and late charges on loans serviced for others.Residential Mortgage ServicingThe Company generally retains the right to service residential mortgage loans sold and may purchase mortgage servicing rights. The unpaid principal balance of loans serviced for others is the primary driver of servicing revenue.The following represents a summary of mortgage servicing rights (dollars in thousands):December 31, 202420232022Number of residential mortgage loans serviced for others125,728 115,967 110,541 Outstanding principal balance of residential mortgage loans serviced for others$22,269,513 $20,382,192 $18,863,201 Weighted average interest rate3.73 %3.64 %3.59 %Remaining contractual term (in months)276280283

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Activity in capitalized mortgage servicing rights during the three years ended December 31, 2024