Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 96

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 96
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 financial difficulty and for whom the Company has modified the terms of loans in the form of principal forgiveness, an interest rate reduction, an other-than insignificant payment delay or a term extension during the periods presented. 

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The following table presents a summary of all modified loans for borrowers experiencing financial difficulties and such loans that were in payment default under the restructured terms during the respective periods below: (Dollars in thousands)Year Ended December 31, 2024Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2023Total Payments in Default  Total Payments in Default  CommercialCommercial, industrial and other$11,531 $995 $41,223 $19,361 Commercial real estateConstruction and development701 — 2,504 2,504 Non-construction813 319 6,980 4,851 Home equity86 86 702 203 Residential real estate166 166 2,113 767 Premium finance receivablesProperty and casualty insurance loans1,226 122 129 129 Total loans$14,523 $1,688 $53,651 $27,815 

(6) Mortgage Servicing Rights (“MSRs”)

Following is a summary of the changes in the carrying value of MSRs, accounted for at fair value, for the years ended December 31, 2024, 2023 and 2022:December 31,December 31,December 31,(In thousands)202420232022Fair value at beginning of year$192,456 $230,225 $147,571 Additions from loans sold with servicing retained29,969 28,610 46,221 Servicing rights sold— (30,170)— Estimate of changes in fair value due to:Payoffs and paydowns(23,026)(17,060)(23,631)Changes in valuation inputs or assumptions4,389 (19,149)60,064 Fair value at end of year$203,788 $192,456 $230,225 Unpaid principal balance of mortgage loans serviced for others$12,400,913 $12,007,165 $14,052,596 The Company recognizes MSR assets upon the sale of residential real estate loans to external third parties when it retains the obligation to service the loans and the servicing