Company: KEY-PI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000091576-25-000110
Chunk: 32

Company: KEYCORP /NEW/
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 32
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328 $2,820 $27 $598 $3,773 2024     Fourth quarter$150 $2,584 $— $342 $3,076 Third quarter60 1,406 90 393 1,949 Second quarter56 860 61 312 1,289 First quarter86 1,554 85 209 1,934 Total$352 $6,404 $236 $1,256 $8,248 

26

Figure 12 shows loans that are either administered or serviced by us, but not recorded on the balance sheet; this includes loans that were sold.

Figure 12. Loans Administered or Serviced  

Dollars in millionsJune 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024Commercial real estate loans$576,703 $572,449 $557,633 $557,387 $535,826 Residential mortgage11,383 11,352 11,344 11,303 11,217 Education loans170 179 189 199 212 Commercial lease financing1,815 1,868 1,735 1,808 1,849 Commercial loans589 596 603 617 656 Consumer direct290 307 328 347 367 Consumer indirect174 239 319 412 524 Total$591,124 $586,990 $572,151 $572,073 $550,651 

In the event of default by a borrower, we are subject to recourse with respect to approximately $7.8 billion of the $591.1 billion of loans administered or serviced at June 30, 2025. These are primarily associated with commercial real estate loans administered or serviced. Additional information about this recourse arrangement is included in Note 16 (“Contingent Liabilities and Guarantees”) under the heading “Recourse agreement with FNMA.”

We derive income from several sources when retaining the right to administer or service loans that are sold. We earn noninterest income (recorded as “Consumer mortgage income” and “Commercial mortgage servicing fees”) from fees for servicing or administering loans. This fee income is reduced by the amortization of related servicing assets. In addition, we earn interest income from investing funds generated by esc