Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 87

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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 — — 1 Other retail1 — — — — 1 Total retail4 14 3 6 — 27 Total$4 $117 $5 $6 $2 $134 

Citizens Financial Group, Inc. | 57

Six Months Ended June 30, 2024(dollars in millions)Interest Rate ReductionTerm ExtensionPayment DelayInterest Rate Reduction and Term ExtensionTotalCommercial and industrial$— $18 $— $— $18 Commercial real estate— 70 — — 70 Total commercial— 88 — — 88 Residential mortgages— 12 1 1 14 Home equity— — — — — Education3 — 14 — 17 Other retail1 — — — 1 Total retail4 12 15 1 32 Total$4 $100 $15 $1 $120 Unfunded commitments related to loans modified during the six months ended June 30, 2025 were $273 million at June 30, 2025. Unfunded commitments related to loans modified during the year ended December 31, 2024 were $206 million at December 31, 2024.

NOTE 5 - MORTGAGE BANKING AND OTHER SERVICED LOANS Mortgage BankingThe Company sells residential mortgages in the secondary market and does not retain a beneficial interest in these sales but may retain the servicing rights for the loans sold. The Company may exercise its option to repurchase eligible government guaranteed residential mortgages or may be obligated to subsequently repurchase a loan if the purchaser discovers a representation or warranty violation, such as noncompliance with eligibility or servicing requirements or customer fraud that should have been identified in a loan file review.The following table summarizes activity related to residential mortgage loans sold with servicing rights retained:Three Months Ended June 30,Six Months Ended June 30,(dollars in millions)2025202420252024Cash proceeds from residential mortgage loans sold with servicing retained$2,734 $1,807 $4,392 $3,295 Gain on sales(1)21 15 37 30 Contractually specified servicing, late and other ancillary fees(1)69 77 139 156 (1) Reported in Mortgage banking fees in the Consolidated Statements of Operations.The unpaid principal balance