Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 76

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 76
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 measurements, and 

Wells Fargo & Company105

Note 13:  Securitizations and Variable Interest Entities (continued)

generally securities are classified as Level 2. Transfers of residential mortgage loans are transactions with the GSEs or GNMA and generally result in no gain or loss because the loans are typically measured at fair value on a recurring basis. Transfers of commercial mortgage loans include both transactions with the GSEs or GNMA and nonconforming transactions. These commercial mortgage loans are carried at the lower of cost or market, and we recognize gains on such transfers when the market value is greater than the carrying value of the loan when it is sold.Table 13.1:  Transfers with Continuing Involvement20252024(in millions)Residential mortgagesCommercial mortgages (1)Residential mortgagesCommercial mortgages (1)Quarter ended September 30,Assets sold $2,335 3,458 2,220 5,670 Proceeds from transfer (2)2,335 3,483 2,220 5,702 Net gains (losses) on sale— 25 — 32 Continuing involvement (3):Servicing rights recognized$25 23 21 27 Securities recognized (4)— 33 — 21 Nine months ended September 30,Assets sold $6,452 7,729 5,920 10,955 Proceeds from transfer (2)6,452 7,793 5,920 11,061 Net gains (losses) on sale— 64 — 106 Continuing involvement (3):Servicing rights recognized$75 56 56 53 Securities recognized (4)— 139 — 69 (1)In first quarter 2025, we sold the non-agency portion of our commercial mortgage third-party servicing business.(2)Represents cash proceeds and the fair value of non-cash beneficial interests recognized at securitization settlement.(3)Represents assets or liabilities recognized at securitization settlement date related to our continuing involvement in the transferred assets.(4)Represents debt securities obtained at securitization settlement held for investment purposes that are classified as available-for-sale or held-to-maturity. Excludes trading debt securities held temporarily for market-marking purposes, which are sold to third parties at or shortly after securitization settlement, of $1.4 billion and $3.2 billion during