RCONM288: Representation and Warranty Reserves for 1-4 Family Residential Mortgage Loans Sold: Total
RCONM288 is the call report code for representation and warranty reserves for 1-4 family residential mortgage loans sold: total, reported on Schedule RC-P, 1-4 Family Residential Mortgage Banking Activities. For Q2 2026 (year to date), 537 banks reported it, totaling $307.6M; the median among the 118 with a nonzero amount was $500K. The largest value reported for Q2 2026 (year to date) was $76.0M, by Wells Fargo Bank, N.A.
Definition
When an institution sells or securitizes mortgage loans, it typically makes certain representations and warranties to the investors or other purchasers of the loans at the time of the sale and to any financial guarantors or mortgage insurers of the loans sold. The specific representations and warranties may relate to the ownership of the loan, the validity of the lien securing the loan, and the loan's compliance with specified underwriting standards. Under ASC Subtopic 450-20, Contingencies - Loss Contingencies (formerly FASB Statement No. 5, 'Accounting for Contingencies'), an institution is required to accrue loss contingencies relating to the representations and warranties made in connection with its mortgage securitization activities and mortgage loan sales when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Report in the appropriate subitem the amount of representation and warranty reserves included in Schedule RC-G, item 4, 'All other liabilities,' that the institution maintains for 1-4 family residential mortgage loans sold, including those mortgage loans transferred in securitizations accounted for as sales.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCONM288 sits on the call report
| Code | RCONM288 (prefix RCON, item M288) |
|---|---|
| Prefix RCON | Domestic offices. Banks without foreign offices (FFIEC 041 and 051 filers) report their whole balance sheet in RCON items. |
| Schedule | RC-P, 1-4 Family Residential Mortgage Banking Activities |
| Reported on | FFIEC 031, FFIEC 041 |
| Value | Dollar amount, reported in thousands, year to date |
| In the MDRM since | 2012 |
Largest reported values, Q2 2026
| Bank | Headquarters | RCONM288 |
|---|---|---|
| Wells Fargo Bank, N.A. | Sioux Falls, SD | $76.0M |
| JPMorgan Chase Bank, N.A. | Columbus, OH | $35.0M |
| Truist Bank | Charlotte, NC | $18.0M |
| PNC Bank, N.A. | Wilmington, DE | $14.3M |
| Citibank, N.A. | Sioux Falls, SD | $13.0M |
| Bank of America, N.A. | Charlotte, NC | $11.0M |
| First Horizon Bank | Memphis, TN | $8.5M |
| Cornerstone Capital Bank, SSB | Houston, TX | $7.8M |
| U.S. Bank N.A. | Cincinnati, OH | $7.2M |
| KeyBank N.A. | Cleveland, OH | $7.0M |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 537 | $307.6M |
| March 31, 2026 | 538 | $320.0M |
| December 31, 2025 | 574 | $341.9M |
| September 30, 2025 | 579 | $353.8M |
| June 30, 2025 | 581 | $373.1M |
| March 31, 2025 | 589 | $392.5M |
| December 31, 2024 | 612 | $410.4M |
| September 30, 2024 | 617 | $426.2M |
Related
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