Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 197

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 13
Chunk 197
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fers with Continuing Involvement20252024(in millions)Residential mortgagesCommercial mortgages (1)Residential mortgagesCommercial mortgages (1)Quarter ended September 30,Assets sold $2,335 3,458 2,220 5,670 Proceeds from transfer (2)2,335 3,483 2,220 5,702 Net gains (losses) on sale— 25 — 32 Continuing involvement (3):Servicing rights recognized$25 23 21 27 Securities recognized (4)— 33 — 21 Nine months ended September 30,Assets sold $6,452 7,729 5,920 10,955 Proceeds from transfer (2)6,452 7,793 5,920 11,061 Net gains (losses) on sale— 64 — 106 Continuing involvement (3):Servicing rights recognized$75 56 56 53 Securities recognized (4)— 139 — 69 (1)In first quarter 2025, we sold the non-agency portion of our commercial mortgage third-party servicing business.(2)Represents cash proceeds and the fair value of non-cash beneficial interests recognized at securitization settlement.(3)Represents assets or liabilities recognized at securitization settlement date related to our continuing involvement in the transferred assets.(4)Represents debt securities obtained at securitization settlement held for investment purposes that are classified as available-for-sale or held-to-maturity. Excludes trading debt securities held temporarily for market-marking purposes, which are sold to third parties at or shortly after securitization settlement, of $1.4 billion and $3.2 billion during the third quarter and first nine months of 2025, respectively, and $1.1 billion and $2.8 billion during the third quarter and first nine months of 2024, respectively.In the normal course of business, we purchase certain non-agency securities at initial securitization or subsequently in the secondary market, which we hold for investment. We may also provide seller financing in the form of loans. We received cash flows of $100 million and $110 million during the third quarter and first nine months of 2025, respectively, and $82 million and $274 million during the third quarter and first nine months of 2024, respectively, for VIEs with continuing involvement,