v3.25.4
Mortgage Servicing Rights (Tables)
 12 Months Ended
Dec. 31, 2025
Transfers and Servicing [Abstract]  
Schedule of Changes in the Fair Value of Residential First Mortgage MSRs
Changes in the fair value of residential first mortgage servicing rights ("MSRs") were as follows:

Year Ended December 31,
20242023
Balance at beginning of period$1,111 $1,033 
Additions from loans sold with servicing retained184 208 
Reductions from sales(1,194)(51)
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes, and other (1)
(105)(80)
Changes in estimates of fair value due to interest rate risk (1) (2)
30 1 
Fair value of MSRs at end of period$26 $1,111 
(1)Changes in fair value are included within net return on mortgage servicing rights on the Consolidated Statements of (Loss) Income.
(2)Represents estimated MSR value change resulting primarily from market-driven changes which we managed through the use of derivatives.
Schedule of Income and Fees
The following table summarizes income and fees associated with owned mortgage servicing rights:

Year Ended December 31,
20242023
Net return on mortgage servicing rights
Servicing fees, ancillary income and late fees (1)
$202 $227 
Decrease in MSR fair value due to pay-offs, pay-downs, run-off, model changes and other(105)(80)
Changes in fair value due to interest rate risk30 1 
Gain on MSR derivatives (2)
(54)(47)
Net transaction costs— 2 
Total return (loss) included in net return on mortgage servicing rights$73 $103 
(1)Servicing fees are recorded on an accrual basis. Ancillary income and late fees are recorded on a cash basis.
(2)Changes in the derivatives utilized as economic hedges to offset changes in fair value of the mortgage servicing rights.


The following table summarizes income and fees associated with our mortgage loans subserviced for others:
Year Ended December 31,
20242023
Loan administration income on mortgage loans subserviced
Servicing fees, ancillary income and late fees (1)
$117 $154 
Charges on subserviced custodial balances (2)
(141)(168)
Other servicing charges2(3)
Total income (loss) on mortgage loans subserviced, included in loan administration income$(22)$(17)
(1)Servicing fees are recorded on an accrual basis. Ancillary income and late fees are recorded on a cash basis.
(2)Charges on subserviced custodial balances represent interest due to MSR owner.