Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 70

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 8
Chunk 70
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$— $— $— Commercial real estate— 71 — — 71 Total commercial— 71 — — 71 Residential mortgages— 5 1 2 8 Home equity1 — — 1 2 Automobile— — — — — Education— — — — — Other retail1 — — — 1 Total retail2 5 1 3 11 Total$2 $76 $1 $3 $82 Three Months Ended March 31, 2024(dollars in millions)Interest Rate ReductionTerm ExtensionPayment DelayInterest Rate Reduction and Term ExtensionTotalCommercial and industrial$— $34 $— $— $34 Commercial real estate— 38 — — 38 Total commercial— 72 — — 72 Residential mortgages— 6 — — 6 Home equity— — — — — Automobile— — — — — Education2 — — — 2 Other retail— — — — — Total retail2 6 — — 8 Total$2 $78 $— $— $80 Unfunded commitments related to loans modified during the three months ended March 31, 2025 were $157 million at March 31, 2025. Unfunded commitments related to loans modified during the year ended December 31, 2024 were $206 million at December 31, 2024.

Citizens Financial Group, Inc. | 51

NOTE 5 - MORTGAGE BANKING AND OTHER SERVICED LOANS Mortgage BankingThe Company sells residential mortgages into the secondary market and retains no beneficial interest in these sales, but may retain the servicing rights for the loans sold. The Company may exercise its option to repurchase eligible government guaranteed residential mortgages or may be obligated to subsequently repurchase a loan if the purchaser discovers a representation or warranty violation such as noncompliance with eligibility or servicing requirements, or customer fraud that should have been identified in a loan file review.The following table summarizes activity related to residential mortgage loans sold with servicing rights retained:Three Months Ended March 31,(dollars in millions)20252024Cash proceeds from residential mortgage loans sold with servicing retained$1,658 $1