v3.24.0.1
Servicing of Financial Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Transfers and Servicing of Financial Assets [Abstract]  
Schedule of Residential Mortgage Servicing Rights Under The Fair Value Measurement Method
The table below presents an analysis of residential MSRs under the fair value measurement method for the years ended December 31: 
 202320222021
 (In millions)
Carrying value, beginning of year$812 $418 $296 
Additions27 44 77 
Purchases (1)
158 301 72 
Increase (decrease) in fair value(2):
Due to change in valuation inputs or assumptions17 127 43 
Economic amortization associated with borrower repayments (3)
(108)(78)(70)
Carrying value, end of year$906 $812 $418 
_________
(1)Purchases of residential MSRs can be structured with cash hold back provisions, therefore the timing of payment may be made in future periods.
(2)Included in mortgage income. Amounts presented exclude offsetting impact from related derivatives.
(3)Includes both total loan payoffs as well as partial paydowns. Regions' MSR decay methodology is a discounted net cash flow approach.
Data And Assumptions Used In The Fair Value Calculation As Well As The Valuation's Sensitivity To Rate Fluctuations Related To Mortgage Servicing Rights
Data and assumptions used in the fair value calculation, as well as the valuation’s sensitivity to rate fluctuations, related to residential MSRs (excluding related derivative instruments) as of December 31 are as follows: 
 20232022
 (Dollars in millions)
Unpaid principal balance$62,059 $54,603 
Weighted-average CPR (%)8.2 %7.4 %
Estimated impact on fair value of a 10% increase$(43)$(50)
Estimated impact on fair value of a 20% increase$(79)$(89)
Option-adjusted spread (basis points)482 507 
Estimated impact on fair value of a 10% increase$(19)$(19)
Estimated impact on fair value of a 20% increase$(39)$(37)
Weighted-average coupon interest rate3.8 %3.6 %
Weighted-average remaining maturity (months)302308
Weighted-average servicing fee (basis points)27.4 27.1