Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 132

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 5
Chunk 132
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 32 — — 1 1 Total consumer 3,095 3,112 1,892 1,887 44 49 Total nonaccrual loans$7,978 7,730 2,225 1,947 76 62 (1)Nonaccrual loans may not have an allowance for credit losses if the loss expectations are zero given the related collateral value.

LOANS IN PROCESS OF FORECLOSURE.  Our recorded investment in consumer mortgage loans collateralized by residential real estate property that are in process of foreclosure was $786 million and $705 million at March 31, 2025, and December 31, 2024, respectively, which included $623 million and $540 million, respectively, of loans that are government insured/guaranteed. Under the Consumer Financial Protection Bureau guidelines, we do not commence the foreclosure process on residential mortgage loans until after the loan is 120 days delinquent. Foreclosure procedures and timelines vary depending on whether the property address resides in a judicial or non-judicial state. Judicial states require the foreclosure to be processed through the state’s courts while non-judicial states are processed without court intervention. Foreclosure timelines vary according to state law.LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING.  Certain loans 90 days or more past due are still accruing, because they are (1) well-secured and in the process of collection or (2) residential mortgage or consumer loans exempt under regulatory rules from being classified as nonaccrual until later delinquency, usually 120 days past due.Table 5.14 shows loans 90 days or more past due and still accruing by class for loans not government insured/guaranteed.Table 5.14:  Loans 90 Days or More Past Due and Still Accruing(in millions)Mar 31,2025Dec 31,2024Total:$4,146 4,802 Less: government insured/guaranteed loans (1)2,610 2,801 Total, not government insured/guaranteed$1,536 2,001 By segment and class, not government insured/guaranteed:Commercial and industrial$355 537 Commercial real estate261 468 Total commercial616 1,005 Residential mortgage41 39 Credit card798 852 Auto50 71 Other consumer31 34 Total consumer920