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Mortgage Banking Activities, Net (Tables)
 3 Months Ended
Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Components of Mortgage Banking Activities, Net
The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of income for the three months ended March 31, 2016 and 2015.
Table 18.1 – Mortgage Banking Activities
 
 
Three Months Ended March 31,
(In Thousands)
 
2016
 
2015
Residential mortgage banking activities, net:
 
 
 
 
Changes in fair value of:
 
 
 
 
Residential loans, at fair value (1)
 
$
18,074

 
$
20,312

Sequoia securities
 
1,484

 
(14,359
)
Risk management derivatives (2)
 
(10,216
)
 
(4,371
)
Other income (expense), net (3)
 
(62
)
 
633

Total residential mortgage banking activities, net
 
9,280

 
2,215

 
 
 
 
 
Commercial mortgage banking activities, net:
 
 
 
 
Changes in fair value of:
 
 
 
 
Commercial loans, at fair value
 
433

 
5,857

Risk management derivatives (3)
 
(2,538
)
 
(6,212
)
Other fee income
 
43

 
63

Total commercial mortgage banking activities, net
 
(2,062
)
 
(292
)
 
 

 

Mortgage Banking Activities, Net
 
$
7,218

 
$
1,923


(1)
Includes changes in fair value for associated loan purchase and forward sale commitments.
(2)
Represents market valuation changes of derivatives that are used to manage risks associated with our accumulation of residential and commercial loans.
(3)
Amounts in this line item include other fee income from loan acquisitions and the provision for repurchases expense, presented net.