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Loan Servicing | 6 Months Ended
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Jun. 30, 2026
Transfers and Servicing [Abstract] |
Loan Servicing | Loan Servicing The Company acquires servicing rights and retains servicing rights related to certain of its sales or securitizations of residential mortgages, commercial mortgages, and other consumer loans. Servicing rights are capitalized by the Company as Loan servicing rights on the Consolidated Balance Sheets. Income earned by the Company on its loan servicing rights is derived primarily from contractually specified servicing fees, late fees, net of curtailment costs, and other ancillary fees. Residential Mortgage Activities The following tables summarize residential mortgage servicing activities:
(Dollars in millions) |  | Jun 30, 2026 |  | Dec 31, 2025 |  |  |
UPB of residential mortgage loan servicing portfolio |  | $ | 298,658 |  |  | $ | 285,966 |  |  |  |
UPB of residential mortgage loans serviced for others, primarily agency conforming fixed rate |  | 240,764 |  |  | 228,383 |  |  |  |
|  | As of / For the Six Months Ended June 30, |
(Dollars in millions) |  | 2026 |  | 2025 |  |  |
UPB of residential mortgage loans sold from LHFS |  | $ | 8,115 |  |  | $ | 4,990 |  |  |  |
Pre-tax gains recognized on mortgage loans sold and held for sale |  | 39 |  |  | 35 |  |  |  |
Servicing fees recognized from mortgage loans serviced for others |  | 336 |  |  | 309 |  |  |  |
Approximate weighted average servicing fee on the outstanding balance of residential mortgage loans serviced for others |  | 0.29 | % |  | 0.28 | % |  |  |
Weighted average interest rate on mortgage loans serviced for others |  | 3.79 |  |  | 3.70 |  |  |  |
The following table presents a roll forward of residential MSRs recorded at fair value:
(Dollars in millions) |  | 2026 |  | 2025 |  |
Residential MSRs, carrying value, January 1 |  | $ | 3,724 |  |  | $ | 3,431 |  |  |
Acquired |  | 275 |  |  | — |  |  |
Additions |  | 197 |  |  | 102 |  |  |
Change in fair value due to changes in valuation inputs or assumptions |  | 39 |  |  | (31) |  |  |
Realization of expected net servicing cash flows, passage of time, and other |  | (189) |  |  | (152) |  |  |
Residential MSRs, carrying value, June 30 |  | $ | 4,046 |  |  | $ | 3,350 |  |  |
The sensitivity of the fair value of the Company’s residential MSRs to changes in key assumptions is presented in the following table. The sensitivity calculations below are hypothetical and should not be considered predictive of future performance. Changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of an adverse variation in one assumption on the fair value of the MSRs is calculated without changing any other assumption; while in reality, changes in one factor may result in changes in another, which may magnify or counteract the effect of the change.
| June 30, 2026 |  | December 31, 2025
| Range |  | Weighted Average |  | Range |  | Weighted Average
(Dollars in millions) | Min |  | Max |  |  | Min |  | Max |
Prepayment speed | 6.2 | % |  | 11.0 | % |  | 7.2 | % |  | 6.1 | % |  | 13.9 | % |  | 7.2 | %
Effect on fair value of a 10% increase |  |  |  |  | $ | (114) |  |  |  |  |  |  | $ | (107) |
Effect on fair value of a 20% increase |  |  |  |  | (221) |  |  |  |  |  |  | (208) |
OAS | 1.3 | % |  | 12.1 | % |  | 4.0 | % |  | 1.4 | % |  | 12.2 | % |  | 4.4 | %
Effect on fair value of a 10% increase |  |  |  |  | $ | (72) |  |  |  |  |  |  | $ | (75) |
Effect on fair value of a 20% increase |  |  |  |  | (142) |  |  |  |  |  |  | (146) |
Composition of loans serviced for others: |  |  |  |  |  |  |  |  |  |
Fixed-rate residential mortgage loans |  |  |  |  | 99.6 | % |  |  |  |  |  | 99.7 | %
Adjustable-rate residential mortgage loans |  |  |  |  | 0.4 |  |  |  |  |  |  | 0.3 |
Total |  |  |  |  | 100.0 | % |  |  |  |  |  | 100.0 | %
Weighted average life |  |  |  |  | 7.5 years |  |  |  |  |  | 7.6 years
Commercial Mortgage Activities The following tables summarize commercial mortgage servicing activities:
(Dollars in millions) | Jun 30, 2026 |  | Dec 31, 2025 |  |
UPB of CRE mortgages serviced for others | $ | 25,917 |  |  | $ | 26,152 |  |  |
Commercial MSRs at fair value | 229 |  |  | 228 |  |  |
| Six Months Ended June 30,
(Dollars in millions) | 2026 |  | 2025 |  |
CRE mortgages originated | $ | 1,008 |  |  | 277 |  |  |

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- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 108 -Publisher FASB -URI 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