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Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value and Notional Amount of Derivative Financial Instruments
The following table presents the fair value and notional amount of our derivative financial instruments at March 31, 2018 and December 31, 2017.
Table 9.1 – Fair Value and Notional Amount of Derivative Financial Instruments
 
 
March 31, 2018
 
December 31, 2017
 
 
Fair
Value
 
Notional
Amount
 
Fair
Value
 
Notional
Amount
(In Thousands)
 
 
 
 
Assets - Risk Management Derivatives
 
 
 
 
 
 
 
 
Interest rate swaps
 
$
50,919

 
$
2,869,500

 
$
10,122

 
$
1,765,000

TBAs
 
8,625

 
1,515,000

 
133

 
295,000

Futures
 
—

 
—

 
1

 
7,500

Swaptions
 
—

 
—

 
42

 
200,000

Assets - Other Derivatives
 
 
 
 
 
 
 
 
Loan purchase commitments
 
4,000

 
570,552

 
3,243

 
547,434

Loan forward sale commitments
 
—

 
—

 
2,177

 
343,681

Total Assets
 
$
63,544

 
$
4,955,052

 
$
15,718

 
$
3,158,615

 
 
 
 
 
 
 
 
 
Liabilities - Cash Flow Hedges
 
 
 
 
 
 
 
 
Interest rate swaps
 
$
(35,167
)
 
$
139,500

 
$
(43,679
)
 
$
139,500

Liabilities - Risk Management Derivatives
 
 
 
 
 
 
 
 
Interest rate swaps
 
(11,346
)
 
451,500

 
(11,888
)
 
1,248,000

TBAs
 
(5,457
)
 
1,110,000

 
(3,808
)
 
1,400,000

Futures
 
(357
)
 
15,000

 
—

 
—

Liabilities - Other Derivatives
 
 
 
 
 
 
 
 
Loan purchase commitments
 
(2,605
)
 
627,803

 
(3,706
)
 
697,966

Loan forward sale commitments
 
(1,269
)
 
340,320

 
—

 
—

Total Liabilities
 
$
(56,201
)
 
$
2,684,123

 
$
(63,081
)
 
$
3,485,466

Total Derivative Financial Instruments, Net
 
$
7,343

 
$
7,639,175

 
$
(47,363
)
 
$
6,644,081
Impact on Interest Expense of Interest Rate Agreements Accounted for as Cash Flow Hedges
The following table illustrates the impact on interest expense of our interest rate agreements accounted for as cash flow hedges for the three months ended March 31, 2018 and 2017.
Table 9.2 – Impact on Interest Expense of Interest Rate Agreements Accounted for as Cash Flow Hedges
 
 
Three Months Ended March 31,
(In Thousands)
 
2018
 
2017
Net interest expense on cash flows hedges
 
$
(998
)
 
$
(1,225
)
Realized net losses reclassified from other comprehensive income
 
—

 
(14
)
Total Interest Expense
 
$
(998
)
 
$
(1,239
)