Loans Held-for-Sale, Net

9 Months Ended

Sep. 30, 2018

Note 4 — Loans Held-for-Sale, Net

Loans held-for-sale, net consists of the following (in thousands):


	September 30, 2018		December 31, 2017
Fannie Mae	$	332,719	$	243,717
Freddie Mac		133,441		47,545
FHA		26,806		987
		492,966		292,249
Fair value of future MSR		8,459		5,806
Unearned discount		(1,144)		(612)
Loans held-for-sale, net	$	500,281	$	297,443

Our loans held-for-sale, net are typically sold within 60 days of loan origination and the gain on sales are included in gain on sales, including fee-based services, net in the consolidated statements of income. During the three and nine months ended September 30, 2018, we sold $1.19 billion and $3.27 billion, respectively, of loans held-for-sale and recorded gain on sales of $15.9 million and $48.1 million, respectively. During the three and nine months ended September 30, 2017, we sold $1.05 billion and $3.62 billion, respectively, of loans held-for-sale and recorded gains on sales of $16.3 million and $52.1 million, respectively. At September 30, 2018 and December 31, 2017, there were no loans held-for-sale that were 90 days or more past due, and there were no loans held-for-sale that were placed on a non-accrual status.