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Mortgage Banking Activities, Net (Tables)
 6 Months Ended
Jun. 30, 2017
Mortgage Banking [Abstract]  
Mortgage Banking Activities
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, 2017 and 2016.
Table 17.1 – Mortgage Banking Activities
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In Thousands)
 
2017
 
2016
 
2017
 
2016
Residential Mortgage Banking Activities, Net
 
 
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
 
 
Residential loans, at fair value (1)
 
$
16,190

 
$
16,711

 
$
34,986

 
$
34,785

Sequoia securities
 
—

 
(29
)
 
—

 
1,455

Risk management derivatives (2)
 
(5,310
)
 
(9,240
)
 
(6,710
)
 
(19,456
)
Other income, net (3)
 
1,166

 
286

 
1,374

 
224

Total residential mortgage banking activities, net
 
12,046

 
7,728

 
29,650

 
17,008

Commercial Mortgage Banking Activities, Net
 
—

 
—

 
—

 
(2,062
)
Mortgage Banking Activities, Net
 
$
12,046

 
$
7,728

 
$
29,650

 
$
14,946


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