Schedule HC-P: 1-4 Family Residential Mortgage Banking Activities Guide¶

Form: FR Y-9C (Consolidated Financial Statements for Holding Companies) Schedule: HC-P - Closed-End 1-4 Family Residential Mortgage Banking Activities in Domestic Offices Frequency: Quarterly Purpose: Measure the volume and income of the holding company's 1-4 family residential mortgage origination, sale, securitization, and servicing activity, plus repurchase exposure and representation-and-warranty reserves

Overview¶

Schedule HC-P captures the flow of residential mortgage banking activity during the quarter (originations, sales, repurchases, income) and the stock of mortgages held for sale and of representation-and-warranty reserves at quarter-end. It lets analysts size a holding company's mortgage-banking franchise and gauge its gain-on-sale income and put-back (repurchase) risk.

Who Files¶

Schedule HC-P is completed by holding companies with $5 billion or more in total assets at which any one of the following exceeds $10 million for two consecutive quarters in domestic offices:

1-4 family residential mortgage loan originations and purchases for resale (from all sources), or
loan sales, or
quarter-end loans held for sale or trading.

The asset-size test is based on total assets reported as of the prior-year June 30 report date.

Schedule Structure¶

1-4 FAMILY RESIDENTIAL MORTGAGE BANKING ACTIVITIES (domestic offices)
├── 1. Retail originations during the quarter (loans for sale)
├── 2. Wholesale originations and purchases during the quarter (loans for sale)
├── 3. 1-4 family residential mortgages sold during the quarter
├── 4. 1-4 family residential mortgages held for sale/trading at quarter-end
├── 5. Noninterest income from sale/securitization/servicing
├── 6. Repurchases and indemnifications during the quarter
└── 7. Representation and warranty reserves
    ├── 7.a To U.S. government agencies and government-sponsored agencies
    ├── 7.b To other parties
    └── 7.c Total (= 7.a + 7.b)

Items 1-3 and 6 are quarterly flows; items 4 and 7 are quarter-end stocks; item 5 is a quarterly income flow.

Detailed Line Items¶

Line	MDRM	Description
1	BHCKHT81	Retail originations during the quarter of 1-4 family residential mortgage loans for sale
2	BHCKHT82	Wholesale originations and purchases during the quarter of 1-4 family residential mortgage loans for sale
3	BHCKFT04	1-4 family residential mortgages sold during the quarter
4	BHCKFT05	1-4 family residential mortgages held for sale or trading at quarter-end
5	BHCKHT85	Noninterest income from the sale, securitization, and servicing of 1-4 family residential mortgage loans
6	BHCKHT86	Repurchases and indemnifications of 1-4 family residential mortgage loans during the quarter
7.a	BHCKL191	Representation and warranty reserves - to U.S. government agencies and GSEs
7.b	BHCKL192	Representation and warranty reserves - to other parties
7.c	BHCKM288	Total representation and warranty reserves (= 7.a + 7.b)

Originations for sale (items 1-2) exclude loans originated or purchased to be held for investment; only the resale pipeline is reported here. Item 5 income is a subset of several HI fee lines (see ties). Items 7.a/7.b disaggregate the put-back reserve by counterparty; only the total (7.c) is carried in the public bulk BHCF data (see Pitfalls).

Reconciliation / Ties¶

HC-P item 4 (BHCKFT05)   ⊂  Schedule HC items 4.a (loans HFS) and 5 (trading assets)
HC-P item 5 (BHCKHT85)   ⊂  Schedule HI items 5.c, 5.f, 5.g, and 5.i (mortgage-
                            banking-related noninterest income)
HC-P item 7.c (BHCKM288)  =  HC-P items 7.a + 7.b (rep & warranty reserve total)

These are subset ties (the HC-P amounts are components included within the broader HC/HI lines), not standalone control totals - HC-P has no schedule total.

Pitfalls¶

Domestic offices, closed-end, 1-4 family only. The schedule scope is narrow: closed-end first/junior-lien 1-4 family residential mortgages in domestic offices. Open-end (HELOC), multifamily, and commercial mortgages are out of scope.
"For sale" vs. "held for investment." Items 1-2 deliberately exclude loans originated to hold; mixing in held-for-investment originations overstates the mortgage-banking pipeline.
7.a / 7.b not in public bulk data. Items 7.a and 7.b are MDRM-valid (effective 2012-06) but the Federal Reserve does not carry these two sub-components in the public bulk BHCF download; only the total (7.c, BHCKM288) is populated there. This is a known public-data gap, not a reporting error - filers do report 7.a/7.b on the form. The provenance file records this (BHCF first/last seen blank for BHCKL191/BHCKL192).
Conditional schedule. Many holding companies leave HC-P blank because they fall below the $5B / $10M two-consecutive-quarters thresholds. A blank schedule is a valid filing.

Verification & Provenance¶

MDRM: all 9 line codes joined to the Federal Reserve MDRM codeset; 9 of 9 verified present, with start/end dates recorded.
Warehouse evidence: 7 of the 9 codes are observed in the Federal Reserve bulk BHCF data (1986-2025); items 7.a (BHCKL191) and 7.b (BHCKL192) are absent from the public bulk numeric data by Federal Reserve design (see Pitfalls), while their total 7.c (BHCKM288) is present from 2012 Q3.
Provenance file: _rebuild/schedules/PROVENANCE_HC_P.csv.
Sources: Federal Reserve MDRM; FR Y-9C form and instructions (March 2026); Federal Reserve bulk BHCF data (1986-2025).

MDRM Quick Reference¶

Item	MDRM	Description
1	BHCKHT81	Retail originations for sale
2	BHCKHT82	Wholesale originations and purchases for sale
3	BHCKFT04	Mortgages sold during the quarter
4	BHCKFT05	Mortgages held for sale/trading at quarter-end
5	BHCKHT85	Noninterest income from sale/securitization/servicing
6	BHCKHT86	Repurchases and indemnifications
7.a	BHCKL191	Rep & warranty reserves - U.S. govt agencies / GSEs
7.b	BHCKL192	Rep & warranty reserves - other parties
7.c	BHCKM288	Total rep & warranty reserves (= 7.a + 7.b)

Last Updated: 2026-06-11 Reference: FR Y-9C form and instructions (March 2026); Federal Reserve MDRM; Federal Reserve bulk BHCF data (1986-2025)