Mortgage Servicing Rights (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Servicing Assets at Fair Value

The following table presents the changes in fair value of the Company's MSR portfolio related to its mortgage banking business and other information related to its servicing portfolio:


	Year Ended December 31,
	2024		2023
	(in millions)
Balance, beginning of period	$	1,124	$	1,148
Additions from loans sold with servicing rights retained	923		865
Carrying value of MSRs sold	(905)		(800)
Change in fair value	144		11
Mark to market adjustments	—		4
Realization of cash flows	(159)		(104)
Balance, end of period	$	1,127	$	1,124

Unpaid principal balance of mortgage loans serviced for others	$	61,089	$	68,647

Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets

The following table presents the effect of hypothetical changes in the fair value of MSRs caused by assumed immediate changes in the below inputs that are used to determine fair value:

December 31, 2024

(in millions)

Fair value of mortgage servicing rights

1,127

Increase (decrease) in fair value resulting from:

Interest rate change of 50 basis points

Adverse change

(64)

Favorable change

Option adjusted spread change of 50 basis points

Increase

(25)

Decrease

Conditional prepayment rate change of 1%

Increase

(30)

Decrease

Cost to service change of 10%

Increase

(13)

Decrease