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Goodwill, Mortgage Servicing Rights, and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill attributed to the business segments The following table presents goodwill attributed to the reportable business segments and Corporate.
December 31,
(in millions)
202520242023
Consumer & Community Banking$32,116 $32,116 $32,116 
Commercial & Investment Bank11,259 11,236 11,251 
Asset & Wealth Management8,634 8,521 8,582 
Corporate
722 692 685 
Total goodwill$52,731 $52,565 $52,634 
The following table presents changes in the carrying amount of goodwill.
(in millions)202520242023
Balance at beginning of period$52,565 $52,634 $51,662 
Changes during the period from:
Business combinations(a)
— 29 917 
Other(b)
166 (98)55 
Balance at December 31,$52,731 $52,565 $52,634 
(a)For 2024, includes estimated goodwill associated with the acquisition of LayerOne Financial in CIB. For 2023, predominantly represents estimated goodwill associated with the acquisition of the remaining 51% interest in CIFM in AWM and the acquisition of Aumni Inc., predominantly in CIB.
(b)Primarily foreign currency adjustments and an immaterial amount of goodwill written off due to impairment during the third quarter of 2025.
Mortgage servicing rights activity
The following table summarizes MSR activity for the years ended December 31, 2025, 2024 and 2023.
As of or for the year ended December 31, (in millions, except where otherwise noted)202520242023
Fair value at beginning of period$9,121 $8,522 $7,973 
MSR activity:
Originations of MSRs433 325 253 
Purchase of MSRs(a)
624 601 1,028 
Disposition of MSRs
9 (21)
(e)
(188)
(e)
Net additions/(dispositions)1,066 905 1,093 
Changes due to collection/realization of expected cash flows
(1,068)(1,068)(1,011)
Changes in valuation due to inputs and assumptions:
Changes due to market interest rates and other(b)
48 670 424 
Changes in valuation due to other inputs and assumptions:
Projected cash flows (e.g., cost to service)
(36)102 (22)
Discount rates
(1)14 14 
Prepayment model changes and other(c)
37 (24)51 
Total changes in valuation due to other inputs and assumptions— 92 43 
Total changes in valuation due to inputs and assumptions48 762 467 
Fair value at December 31,$9,167 $9,121 $8,522 
Change in unrealized gains/(losses) included in income related to MSRs held at December 31,
$48 $762 $467 
Contractual service fees, late fees and other ancillary fees included in income1,635 1,606 1,590 
Third-party mortgage loans serviced at December 31, (in billions)668 652 632 
Servicer advances, net of an allowance for uncollectible amounts, at December 31(d)
493 577 659 
(a)Includes purchase price adjustments associated with purchased MSRs, primarily due to loans that prepaid within 90 days of settlement or did not meet certain criteria and were removed from the purchase prior to the transfer date, allowing the Firm to recover the purchase price.
(b)Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments.
(c)Represents changes in prepayments other than those attributable to changes in market interest rates.
(d)Represents amounts the Firm pays as the servicer (e.g., scheduled principal and interest, taxes and insurance), which will generally be reimbursed within a short period of time after the advance from future cash flows from the trust or the underlying loans. The Firm’s credit risk associated with these servicer advances is minimal because reimbursement of the advances is typically senior to all cash payments to investors. In addition, the Firm maintains the right to stop payment to investors if the collateral is insufficient to cover the advance. However, certain of these servicer advances may not be recoverable if they were not made in accordance with applicable rules and agreements.
(e)Includes excess MSRs transferred to agency-sponsored trusts in exchange for stripped mortgage-backed securities (“SMBS”). In each transaction, a portion of the SMBS was acquired by third parties at the transaction date; the Firm acquired the remaining balance of those SMBS as trading securities.
CCB mortgage fees and related income
The following table presents the components of mortgage fees and related income (including the impact of MSR risk management activities) for the years ended December 31, 2025, 2024 and 2023.
Year ended December 31,
(in millions)		202520242023
CCB mortgage fees and related income
Production revenue$622 $627 $421 
Net mortgage servicing revenue: 
Operating revenue: 
Loan servicing revenue1,651 1,659 1,634 
Changes in MSR asset fair value due to collection/realization of expected cash flows
(1,065)(1,067)(1,011)
Total operating revenue586 592 623 
Risk management: 
Changes in MSR asset fair value due to market interest rates and other(a)
48 670 424 
Other changes in MSR asset fair value due to other inputs and assumptions in model(b)
— 92 43 
Change in derivative fair value and other
70 (603)(336)
Total risk management118 159 131 
Total net mortgage servicing revenue704 751 754 
Total CCB mortgage fees and related income1,326 1,378 1,175 
All other55 23 1 
Mortgage fees and related income
$1,381 $1,401 $1,176 
(a)Represents both the impact of changes in estimated future prepayments due to changes in market interest rates, and the difference between actual and expected prepayments.
(b)Represents the aggregate impact of changes in model inputs and assumptions such as projected cash flows (e.g., cost to service), discount rates and changes in prepayments other than those attributable to changes in market interest rates (e.g., changes in prepayments due to changes in home prices).
Key economic assumptions used to determine the fair value of the Firm's Mortgage Servicing Rights (MSRs)
The table below outlines the key economic assumptions used to determine the fair value of the Firm’s MSRs at December 31, 2025 and 2024, and outlines the sensitivities of those fair values to immediate adverse changes in those assumptions, as defined below.
December 31,
(in millions, except rates)		20252024
Weighted-average prepayment speed assumption (constant prepayment rate)
6.77 %6.19 %
Impact on fair value of 10% adverse change
$(181)$(209)
Impact on fair value of 20% adverse change
(353)(406)
Weighted-average option adjusted spread(a)
6.14 %5.97 %
Impact on fair value of 100 basis points adverse change
$(394)$(391)
Impact on fair value of 200 basis points adverse change
(757)(751)
(a)Includes the impact of operational risk and regulatory capital.
Schedule of future amortization expense
The following table presents estimated future amortization expense.
December 31,
(in millions)		Finite-lived intangible assets
2026$266 
2027264 
2028264 
2029252 
2030100