Wells Fargo 2010 Annual Report Download - page 160
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Note 9: Mortgage Banking Activities (continued)
In addition, servicing fees in the previous table included:
Year ended December 31,
(in millions) 2010
2009
2008
Contractually specified
servicing fees $ 4,566
4,473
3,904
Late charges 360
330
283
Ancillary fees 434
287
148
The table below summarizes the changes in our liability for
mortgage loan repurchase losses. This liability is in “Accrued
expenses and other liabilities” in our consolidated financial
statements and the provision for repurchase losses reduces net
gains on mortgage loan origination/sales activities.
Year ended December 31,
(in millions) 2010
2009
2008
Balance, beginning of year $ 1,033
589
253
Wachovia acquisition (1) -
31
187
Provision for repurchase losses:
Loan sales 144
302
165
Change in estimate – primarily
due to credit deterioration 1,474
625
234
Total additions 1,618
958
586
Losses (1,362)
(514)
(250)
Balance, end of year $ 1,289
1,033
589
(1) The 2009 amount is refinement to initial December 31, 2008, Wachovia
purchase accounting adjustments.
158