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Loan Sale and Servicing Activities and Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2024
Loan Sale and Servicing Activities and Variable Interest Entities [Abstract]  
Cash Flows Associated with Loan Sale and Servicing Activities
The following table provides our loan sale and servicing activities:
Table 59: Loan Sale and Servicing Activities
In millionsResidential MortgagesCommercial Mortgages (a)
Cash Flows - Year ended December 31, 2024
Sales of loans and related securitization activity (b)$3,060 $3,918 
Repurchases of previously transferred loans (c)$103 $9 
Servicing fees (d) $551 $204 
Servicing advances recovered/(funded), net$19 $(92)
Cash flows on mortgage-backed securities held (e)$2,499 $67 
Cash Flows - Year ended December 31, 2023
Sales of loans and related securitization activity (b)$2,648 $3,650 
Repurchases of previously transferred loans (c)$87 
Servicing fees (d)$529 $198 
Servicing advances recovered/(funded), net$(7)$(140)
Cash flows on mortgage-backed securities held (e)$2,624 $75 
(a)Represents both commercial mortgage loan transfer and servicing activities.
(b)Gains/losses recognized on sales of loans were insignificant for the periods presented.
(c)Includes both residential and commercial mortgage government insured or guaranteed loans eligible for repurchase through the exercise of our ROAP option, as well as residential mortgage loans repurchased due to alleged breaches of origination covenants or representations and warranties made to purchasers.
(d)Includes contractually specified servicing fees, late charges and ancillary fees.
(e)Represents cash flows on securities where we transferred to, and/or service loans for, a securitization SPE and we hold securities issued by that SPE. The carrying values of such securities held were $18.2 billion in residential mortgage-backed securities and $0.6 billion in commercial mortgage-backed securities at December 31, 2024. Comparable amounts at December 31, 2023 were $20.4 billion and $0.7 billion, respectively.
Principal Balance, Delinquent Loans and Net Charge-Offs Related to Serviced Loans for Others
Table 60: Principal Balance, Delinquent Loans and Net Charge-offs Related to Serviced Loans For Others
In millionsResidential MortgagesCommercial Mortgages (a)
December 31, 2024
Total principal balance$37,619 $51,274 
Delinquent loans (b)$288 $124 
December 31, 2023
Total principal balance$39,016 $57,492 
Delinquent loans (b)$329 $89 
Year ended December 31, 2024
Net charge-offs (c)$4 $122 
Year ended December 31, 2023
Net charge-offs (c)$4 $26 
(a)Represents information at the securitization level in which we have sold loans and we are the servicer for the securitization.
(b)Serviced delinquent loans are 90 days or more past due or are in process of foreclosure.
(c)Net charge-offs for Residential mortgages represent credit losses less recoveries distributed and as reported to investors during the period. Net charge-offs for Commercial mortgages represent credit losses less recoveries distributed and as reported by the trustee for commercial mortgage-backed securitizations. Realized losses for Agency securitizations are not reflected as we do not manage the underlying real estate upon foreclosure and, as such, do not have access to loss information.
Non-Consolidated VIEs
Table 61: Non-Consolidated VIEs
In millionsPNC Risk of Loss (a)Carrying Value of AssetsCarrying Value of Liabilities
December 31, 2024 
Mortgage-backed securitizations (b) $19,187 $19,191 (c)   
Tax credit investments and other5,513 5,491 (d) (e)$2,627 (f) (g)
Total$24,700 $24,682   $2,627   
December 31, 2023 
Mortgage-backed securitizations (b)$21,451 $21,453 (c)   
Tax credit investments and other4,709 4,631 (d) (e)$2,119 (f) (g)
Total$26,160 $26,084   $2,119   
(a)Represents loans, investments and other assets related to non-consolidated VIEs, net of collateral (if applicable). The risk of loss excludes any potential tax recapture associated with tax credit investments.
(b)Amounts reflect involvement with securitization SPEs where we transferred to, and/or service loans for, an SPE and we hold securities issued by that SPE. Values disclosed in the PNC Risk of Loss column represent our maximum exposure to loss for those securities’ holdings.
(c)Included in Investment securities, Mortgage servicing rights and Other assets on our Consolidated Balance Sheet.
(d)Included in Investment securities, Loans, Equity investments and Other assets on our Consolidated Balance Sheet.
(e)Amount includes $3.9 billion of LIHTCs and $0.2 billion of NMTCs at December 31, 2024, which are included in Equity investments on our Consolidated Balance Sheet. Comparable amounts at December 31, 2023 were $3.0 billion and $0.2 billion, respectively.
(f)Included in Deposits and Other liabilities on our Consolidated Balance Sheet.
(g)Amount includes $2.3 billion of LIHTCs and less than $0.1 billion of NMTCs at December 31, 2024, which are included in Other liabilities on our Consolidated Balance Sheet. Comparable amounts at December 31, 2023 were $1.6 billion and $0.2 billion, respectively.