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Mortgage banking activities | 9 Months Ended
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Sep. 30, 2019
Disclosure Text Block |
Mortgage Banking Activities | Note 11 – Mortgage banking activities Income from mortgage banking activities includes mortgage servicing fees earned in connection with administering residential mortgage loans and valuation adjustments on mortgage servicing rights. It also includes gain on sales and securitizations of residential mortgage loans and trading gains and losses on derivative contracts used to hedge the Corporation’s securitization activities. In addition, lower-of-cost-or-market valuation adjustments to residential mortgage loans held for sale, if any, are recorded as part of the mortgage banking activities. The following table presents the components of mortgage banking activities:
|  | Quarters ended September 30, | Nine months ended September 30,
(In thousands) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Mortgage servicing fees, net of fair value adjustments: |  |  |  |  |  |  |  |
| Mortgage servicing fees | $ | 11,797 | $ | 12,324 | $ | 35,400 | $ | 37,205
| Mortgage servicing rights fair value adjustments |  | (4,842) |  | (4,194) |  | (25,853) |  | (13,123)
Total mortgage servicing fees, net of fair value adjustments |  | 6,955 |  | 8,130 |  | 9,547 |  | 24,082
Net gain on sale of loans, including valuation on loans held-for-sale |  | 5,421 |  | 3,014 |  | 14,653 |  | 6,531
Trading account (loss) profit: |  |  |  |  |  |  |  |
| Unrealized (losses) gains on outstanding derivative positions |  | 227 |  | 45 |  | - |  | (131)
| Realized (losses) gains on closed derivative positions |  | (2,111) |  | 80 |  | (5,555) |  | 2,926
Total trading account (loss) profit |  | (1,884) |  | 125 |  | (5,555) |  | 2,795
Total mortgage banking activities | $ | 10,492 | $ | 11,269 | $ | 18,645 | $ | 33,408

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- Definition The entire disclosure for Mortgage Banking Activities, Net. Mortgage banking activities include the components of the contribution to net income from our mortgage loan business activities. This includes net income from MSRs, valuation changes related to derivatives used to manage certain risks associated with the mortgage loans we own or plan to acquire and securitize, and gains from mortgage loan sales. + References No definition available. + Details
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