Company: MTB-PJ
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006267
Chunk: 147

Company: M&T BANK CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 147
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’s involvement in commercial mortgage banking activities includes the origination, sales and servicing of loans under the multifamily loan programs of Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development.

83

Table 28

RESIDENTIAL MORTGAGE BANKING ACTIVITIES

Change fromYear Ended December 31,Year Ended 2023 to 20242022 to 2023(Dollars in millions)202420232022Amount%Amount%Residential mortgage banking revenuesGains (losses) on loans originated for sale$31 $25 $(2)$6 28 %$27 — %Loan servicing fees150 132 83 18 13 49 58 Loan sub-servicing and other fees124 125 154 (1)-1 (29)-19 Total loan servicing revenues274 257237176 208 Total residential mortgage banking revenues$305 $282 $235 $23 8 %$47 20 %New commitments to originate loans for sale$1,375 $1,255 $314 $120 10 %$941 300 %

(Dollars in millions)December 31, 2024December 31, 2023Balances at period endLoans held for sale$211 $190 Commitments to originate loans for sale190 163 Commitments to sell loans353 295 Capitalized mortgage loan servicing assets (a)368 456 Loans serviced for others38,105 40,021 Loans sub-serviced for others (b)111,544 115,321 Total loans serviced for others$149,649 $155,342 

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(a)Additional information about the Company's capitalized residential mortgage loan servicing assets, including information about the calculation of estimated fair value, is presented in note 6 of Notes to Financial Statements.

(b)The contractual servicing rights associated with residential mortgage loans sub-serviced by the Company were primarily held by affiliates of BLG. Information about the Company's relationship with BLG and its affiliates is included in note 23 of Notes to Financial Statements. In February 2025, the Company began sub-servicing approximately $51.7 billion of additional residential mortgage loans with contractual servicing rights held by Bayview Financial. 

The increase in residential mortgage banking revenues of $23 million in 2024 as compared with 2023 reflects one additional quarter