Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 180

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 180
---
         |
| Net sensitivity              |     | $ |            -10 |         | $ |   -3 |        | $ |  -1 |        | $ |   2 |        | $ |    9 |        | $ |   24 |         | $ |                15 |         | $ |    3 |        | $ |   — |        | $ |   2 |        | $ |    2 |        | $ |   -3 |         |

The fair value of MSRs and their sensitivity to changes in interest rates is influenced by the mix of the servicing portfolio and characteristics of each segment of the portfolio. The Company’s servicing portfolio consists of the distinct portfolios of government-insured mortgages, conventional mortgages and Housing Finance Agency (“HFA”) mortgages. The servicing portfolios are predominantly comprised of fixed-rate agency loans with limited adjustable-rate or jumbo mortgage loans. The HFA servicing portfolio is comprised of loans originated under state and local housing authority program guidelines which assist purchases by first-time or low- to moderate-income homebuyers through a favorable rate subsidy, down payment and/or closing cost assistance on government- and conventional-insured mortgages.

| U.S. Bancorp |     | 47 |

The following table provides a summary of the Company’s MSRs and related characteristics by portfolio:

|                                                                 |     |   | March 31, 2025 |     |   |        |            |                 |         |     |   |         |       |   | December 31, 2024 |     |   |        |            |                 |         |     |   |         |       |
|:----------------------------------------------------------------|:----|:--|---------------:|----:|:--|-------:|-----------:|:----------------|--------:|----:|:--|--------:|------:|:--|------------------:|----:|:--|-------:|-----------:|:----------------|--------:|----:|:--|--------:|------:|
| (Dollars in Millions)                                           |     |   |                | HFA |   |        | Government | Conventional(d) |         |     |   |         | Total |   |                   | HFA |   |        | Government | Conventional(d) |         |     |   |         | Total |
| Servicing portfolio(a)                                          |     | $ |         54,095 |     | $ | 24,797 |            |