Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 37

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 37
---
648 Total serviced for others, excluding subserviced for others434 58 487 522 MSRs as a percentage of loans serviced for others1.42 %1.06 1.41 0.18 Weighted average note rate (mortgage loans serviced for others)3.77 4.00 3.76 5.05 Servicer advances, net of an allowance for uncollectible amounts ($ in millions) (1)$635 19 977 1,173 (1)In first quarter 2025, we sold the non-agency portion of our commercial mortgage third-party servicing business.Table 6.4 presents the components of mortgage banking noninterest income.Table 6.4:  Mortgage Banking Noninterest IncomeQuarter ended September 30,Nine months ended September 30,(in millions)2025202420252024Contractually specified servicing fees, late charges and ancillary fees$347 462 $1,120 1,398 Unreimbursed servicing costs (1)(60)(31)(163)(90)Amortization for commercial MSRs (2)(36)(58)(121)(173)Changes due to collection/realization of expected cash flows (3)(192)(235)(577)(695)Net servicing fees59 138 259 440 Changes in fair value of MSRs due to market interest rates1 (296)(124)71 Changes in fair value of MSRs due to other valuation inputs or assumptions (4)97 2 242 (54)Net derivative gain (losses) from economic hedges (5)2 309 128 (52)Market-related valuation changes to residential MSRs, net of hedge results100 15 246 (35)Total net servicing income159 153 505 405 Net gains on mortgage loan originations/sales (6)109 127 325 348 Total mortgage banking noninterest income$268 280 $830 753 (1)Includes costs associated with foreclosures, unreimbursed interest advances to investors, other interest costs, and transaction costs associated with sales of residential MSRs.(2)Estimated future amortization expense for commercial MSRs was $39 million for the remainder of 2025, and $129 million, $107 million, $95 million, $73 million, and $55 million for the years ended December 31, 2026, 2027, 2028,