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Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of fair value of derivative contracts | The fair value of derivative contracts, computed in accordance with Newmark’s netting policy, is set forth below (in thousands):
|  | June 30, 2021 |  | December 31, 2020
Derivative contract |  | Assets |  | Liabilities |  | Notional Amounts(1) |  | Assets |  | Liabilities |  | Notional Amounts(1)
Rate lock commitments |  | $ | 21,374 |  |  | $ | 3,707 |  |  | $ | 613,275 |  |  | $ | 21,034 |  |  | $ | 2,977 |  |  | $ | 296,972 |
Nasdaq Forwards |  | — |  |  | — |  |  | — |  |  | 12,822 |  |  | — |  |  | 174,000 |
Forward sale contracts |  | 4,026 |  |  | 11,331 |  |  | 1,023,446 |  |  | 7,632 |  |  | 14,971 |  |  | 1,359,482 |
Total |  | $ | 25,400 |  |  | $ | 15,038 |  |  | $ | 1,636,721 |  |  | $ | 41,488 |  |  | $ | 17,948 |  |  | $ | 1,830,454 |
(1)Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and do not represent anticipated losses.
Summary of gain (loss) on change in fair value of derivatives included in condensed consolidated statements of operations | Gains and losses on derivative contracts, which are included on the accompanying unaudited condensed consolidated statements of operations were as follows (in thousands):
|  | Location of gain (loss) recognized in income for derivatives |  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  |  | 2021 |  | 2020 |  | 2021 |  | 2020 |  |
Derivatives not designed as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Nasdaq Forwards |  | Other income (loss), net |  | $ | (6,802) |  |  | $ | (22,945) |  |  | $ | (12,404) |  |  | $ | (1,772) |  |  |
Rate lock commitments |  | Gains (loss) from mortgage banking activities/originations, net |  | 15,149 |  |  | (10,208) |  |  | 19,843 |  |  | 49,955 |  |  |
Rate lock commitments |  | Compensation and employee benefits |  | (1,060) |  |  | 512 |  |  | (2,177) |  |  | (899) |  |  |
Forward sale contracts |  | Gains (loss) from mortgage banking activities/originations, net |  | (10,061) |  |  | 29,388 |  |  | (7,304) |  |  | (48,292) |  |  |
Total |  |  |  | $ | (2,774) |  |  | $ | (3,253) |  |  | $ | (2,042) |  |  | $ | (1,008) |  |  |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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