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Operating Expenses
 6 Months Ended
Jun. 30, 2018
Other Income and Expenses [Abstract]  
Operating Expenses
Operating Expenses
Components of our operating expenses for the three and six months ended June 30, 2018 and 2017 are presented in the following table.
Table 18.1 – Components of Operating Expenses
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In Thousands)
 
2018
 
2017
 
2018
 
2017
Fixed compensation expense
 
$
5,775

 
$
5,321

 
$
12,214

 
$
11,323

Variable compensation expense
 
1,825

 
4,313

 
8,732

 
8,246

Equity compensation expense
 
3,835

 
3,121

 
6,532

 
5,297

Total compensation expense
 
11,435

 
12,755

 
27,478

 
24,866

Systems and consulting
 
1,774

 
1,689

 
3,640

 
3,327

Loan acquisition costs (1)
 
2,155

 
1,005

 
3,973

 
2,210

Office costs
 
1,084

 
1,140

 
2,224

 
2,243

Accounting and legal
 
1,074

 
877

 
1,908

 
1,803

Corporate costs
 
496

 
508

 
1,000

 
948

Other operating expenses
 
991

 
667

 
1,816

 
1,470

Total Operating Expenses
 
$
19,009

 
$
18,641

 
$
42,039

 
$
36,867

(1)
Loan acquisition costs primarily includes underwriting and due diligence costs related to the acquisition of residential loans held-for-sale at fair value.