Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 234

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 234
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 million and a net loss of $0.1 million on these loan sales during the three months ended September 30, 2024. During the nine months ended September 30, 2024, the Company recognized net charge-offs totaling $1.8 million and a net loss of $5.7 million on these loan sales.

5. MORTGAGE SERVICING RIGHTSThe 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 September 30,Nine Months Ended September 30,2025202420252024(in millions)Balance, beginning of period$1,044 $1,145 $1,127 $1,124 Additions from loans sold with servicing rights retained318 223 863 626 Carrying value of MSRs sold(94)(258)(629)(655)Change in fair value(9)(62)(6)30 Realization of cash flows(46)(37)(142)(114)Balance, end of period$1,213 $1,011 $1,213 $1,011 September 30, 2025December 31, 2024(in millions)Unpaid principal balance of mortgage loans serviced for others$66,052 $61,089 Changes in the fair value of MSRs are recorded as Net loan servicing revenue in the Consolidated Income Statement. Due to the regulatory capital impact of MSRs on capital ratios, the Company sells certain MSRs and related servicing advances in the normal course of business. The Company may also sell excess servicing spread related to certain mortgage loans serviced by the Company. During the three and nine months ended September 30, 2025, the Company recognized a net gain of $1.5 million and $8.1 million on MSR sales, respectively. The UPB of loans underlying these sales totaled $6.0 billion and $37.2 billion for the three and nine months ended September 30, 2025, respectively. During the three and nine months ended September 30, 2024, the Company recognized a net gain of $1.5 million and $5.0 million on MSR sales, respectively. The UPB of loans underlying these sales totaled $15.5 billion and $42.8 billion for the three and nine months ended September 30, 2024, respectively. As of September 30,