Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 90

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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 the normal course of business, the Company also repurchases guaranteed or insured loans under the terms of the GNMA MBS program which can be repooled when loans are brought current either through the borrower's reperformance or successful completion of a loss mitigation retention solution. The Company repurchased $153 million and $454 million of such EBO loans during the three and nine months ended September 30, 2025, respectively. The Company repurchased $109 million and $291 million of such EBO loans during the three and nine months ended September 30, 2024, respectively. Prior to repurchase, these loans are classified as loans eligible for repurchase, which is included as a component of Other assets on the Consolidated Balance Sheet.During the three and nine months ended September 30, 2025, the Company sold loans with a carrying value of approximately $135 million and $514 million, respectively. The Company recognized a net gain of $2.0 million on these loan sales during the three months ended September 30, 2025. During the nine months ended September 30, 2025, the Company recognized net charge-offs totaling $1.7 million and a net loss of $0.8 million. During the three and nine months ended September 30, 2024, the Company sold loans with a carrying value of approximately $161 million and $550 million, respectively. The Company recognized net charge-offs totaling $0.4 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