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Mortgage Banking Activities, Net
 6 Months Ended
Jun. 30, 2016
Mortgage Banking [Abstract]  
Mortgage Banking Activities, Net
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 and six months ended June 30, 2016 and 2015.
Table 18.1 – Mortgage Banking Activities
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In Thousands)
 
2016
 
2015
 
2016
 
2015
Residential Mortgage Banking Activities, Net:
 
 
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
 
 
Residential loans, at fair value (1)
 
$
16,711

 
$
(2,122
)
 
$
34,785

 
$
18,191

Sequoia securities
 
(29
)
 
—

 
1,455

 
(14,359
)
Risk management derivatives (2)
 
(9,240
)
 
5,555

 
(19,456
)
 
1,185

Other income (expense), net (3)
 
286

 
1,400

 
224

 
2,035

Total residential mortgage banking activities, net
 
7,728

 
4,833

 
17,008

 
7,052

 
 
 
 
 
 
 
 
 
Commercial Mortgage Banking Activities, Net:
 
 
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
 
 
Commercial loans, at fair value
 
—

 
987

 
433

 
6,845

Risk management derivatives (3)
 
—

 
1,464

 
(2,538
)
 
(4,748
)
Other fee income
 
—

 
163

 
43

 
224

Total commercial mortgage banking activities, net
 
—

 
2,614

 
(2,062
)
 
2,321

Mortgage Banking Activities, Net
 
$
7,728

 
$
7,447

 
$
14,946

 
$
9,373


(1)
Includes changes in fair value for associated loan purchase and forward sale commitments.
(2)
Represents market valuation changes of derivatives that were 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.