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Mortgage Banking Activities, Net (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2017 and 2016.
Table 17.1 – Mortgage Banking Activities
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In Thousands)
 
2017
 
2016
 
2017
 
2016
Residential Mortgage Banking Activities, Net
 
 
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
 
 
Residential loans, at fair value (1)
 
$
28,135

 
$
12,671

 
$
63,122

 
$
47,456

Sequoia securities
 
—

 
—

 
—

 
1,455

Risk management derivatives (2)
 
(7,077
)
 
(3,287
)
 
(13,787
)
 
(22,743
)
Other income, net (3)
 
142

 
382

 
1,515

 
606

Total residential mortgage banking activities, net
 
21,200

 
9,766

 
50,850

 
26,774

Commercial Mortgage Banking Activities, Net
 
—

 
—

 
—

 
(2,062
)
Mortgage Banking Activities, Net
 
$
21,200

 
$
9,766

 
$
50,850

 
$
24,712

(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.