Company: AX
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001299709-25-000011
Chunk: 107

Company: Axos Financial, Inc.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 8
Chunk 107
---
—Mortgage banking and servicing rights income— (1,494)(1,494)Included in other comprehensive income1,876 — 1,876 Purchases, retentions, issues, sales and settlements:Purchases/Retentions— 199 199 Settlements(244)— (244)Closing balance$207,708 $28,043 $235,751 Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period$— $(1,494)$(1,494)

11

For the Six Months EndedDecember 31, 2023(Dollars in thousands)Available-for-sale Securities:Non-Agency MBSServicing Rights1TotalOpening Balance$205,005 $25,443 $230,448 Total gains or losses for the period:Included in earnings—Mortgage banking and servicing rights income— 365 365 Included in other comprehensive income3,191 — 3,191 Purchases, retentions, issues, sales and settlements:Purchases/Retentions— 2,235 2,235 Settlements(488)— (488)Closing balance$207,708 $28,043 $235,751 Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period$— $365 $365 1 Earnings from servicing rights were attributable to: time and payoffs, representing a decrease in servicing rights value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period of $0.3 million and $0.5 million for the three and six months ended December 31, 2023, and a decrease in servicing rights value resulting from market-driven changes in interest rates of $1.2 million for the three months ended December 31, 2023 and an increase of $0.9 million for the six months ended December 31, 2023. Additions to servicing rights were related to purchases and servicing rights retained upon sale of loans held for sale. The table below summarizes the quantitative information about Level 3 fair value measurements:December 31, 2024(Dollars in thousands)Fair ValueValuation TechniqueUnobservable InputRange (Weighted Average)1Available-for-sale securities: Non-Agency MBS$47,412 Discounted Cash