Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 139

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 6
Chunk 139
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 our owned loans which are collectible from the borrower. Servicer advances on owned loans are written-off when deemed uncollectible.Table 6.3:  Managed Servicing PortfolioMar 31, 2025Dec 31, 2024($ in billions, unless otherwise noted)Residential mortgagesCommercial mortgagesResidential mortgagesCommercial mortgagesServiced and subserviced for others (1)$472 75 488 531 Owned loans serviced249 115 252 117 Total managed servicing portfolio721 190 740 648 Total serviced for others, excluding subserviced for others471 58 487 522 MSRs as a percentage of loans serviced for others1.39 %1.11 1.41 0.18 Weighted average note rate (mortgage loans serviced for others)3.76 3.95 3.76 5.05 Servicer advances, net of an allowance for uncollectible amounts ($ in millions) (1)$846 17 977 1,173 (1)In first quarter 2025, we sold the non-agency portion of our commercial mortgage third-party servicing business.Table 6.4 presents the components of mortgage banking noninterest income.Table 6.4:  Mortgage Banking Noninterest IncomeQuarter ended March 31,(in millions)20252024Contractually specified servicing fees, late charges and ancillary fees$406 474 Unreimbursed servicing costs (1)(27)(46)Amortization for commercial MSRs (2)(49)(57)Changes due to collection/realization of expected cash flows (3)(A)(189)(226)Net servicing fees141 145 Changes in fair value of MSRs due to valuation inputs or assumptions (4)(B)(68)251 Net derivative gain (losses) from economic hedges (5)132 (271)Market-related valuation changes to residential MSRs, net of hedge results64 (20)Total net servicing income205 125 Net gains on mortgage loan originations/sales (6)127 105 Total mortgage banking noninterest income$332 230 Total changes in residential MSRs carried at fair value(A)+(B)$(257)25 (1)Includes costs associated with foreclosures, unreimbursed interest advances to investors, other interest costs, and transaction costs associated with sales of residential MSRs.(2)Estimated future amortization expense for commercial MSRs was $108 million for