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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Contracts | The fair value of derivative contracts, computed in accordance with the Newmark’s netting policy, is set forth below (in thousands):
|  | March 31, 2018 |  |  | December 31, 2017 |
|  |  |  |  |  |  |  |  |  | Notional |  |  |  |  |  |  |  |  |  |  | Notional |
Derivative contract |  | Assets |  |  | Liabilities |  |  | Amounts (1) |  |  | Assets |  |  | Liabilities |  |  | Amounts(1) |
Forwards |  | $ | 9,687 |  |  | $ | 2,421 |  |  | $ | 1,324,711 |  |  | $ | 3,753 |  |  | $ | 657 |  |  | $ | 541,359 |
Rate lock commitments |  |  | 8,750 |  |  |  | 8,980 |  |  |  | 374,197 |  |  |  | 2,923 |  |  |  | 2,390 |  |  |  | 180,918 |
Total |  | $ | 18,437 |  |  | $ | 11,401 |  |  |  |  |  |  | $ | 6,676 |  |  | $ | 3,047 |  |  |  |  |
(1) | Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and does not represent anticipated losses.
Summary of Gain (Loss) on Change in Fair Value of Derivatives Included in Condensed Consolidated Statements of Operations | The fair value of Newmark’s derivatives for rate lock commitments and forward sale contracts are as follows (in thousands) and are included in “Gain from mortgage banking activities/originations, net” and “Compensation and employee benefits” in the unaudited condensed consolidated statements of operations:
|  | Location of gain (loss) recognized |  | Three Months Ended March 31, |
|  | in income for derivatives |  | 2018 |  |  | 2017 |
Derivatives not designed as hedging instruments: |  |  |  |  |  |  |  |  |  |
Rate lock commitments |  | Gains from mortgage banking activities/originations, net |  | $ | 2,269 |  |  | $ | 132 |
Rate lock commitments |  | Compensation and employee benefits |  |  | (2,500 | ) |  |  | (807 | )
Forward sale contracts |  | Gains from mortgage banking activities/originations, net |  |  | 7,266 |  |  |  | 3,317 |
|  |  |  | $ | 7,035 |  |  | $ | 2,642 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 + Details
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