Mortgage Banking Activities, Net (Tables)

6 Months Ended

Jun. 30, 2019

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, 2019 and 2018.

Table 19.1 – Mortgage Banking Activities



	Three Months Ended June 30,					Six Months Ended June 30,
(In Thousands)	2019			2018		2019			2018
Residential Mortgage Banking Activities, Net
Changes in fair value of:
Residential loans, at fair value ⁽¹⁾	$	20,267		$	3,364	$	35,111		$	1,170
Risk management derivatives ⁽²⁾	(5,760		)	6,150		(9,898		)	34,582
Other income, net ⁽³⁾	852			1,082		973			1,420
Total residential mortgage banking activities, net	15,359			10,596		26,186			37,172

Business Purpose Mortgage Banking Activities, Net:
Changes in fair value of:
Single-family rental loans, at fair value ⁽¹⁾	1,882			—		3,626			—
Risk management derivatives⁽²⁾	(1,671		)	—		(2,517		)	—
Residential bridge loans, at fair value	1,012			—		1,098			—
Other income, net ⁽⁴⁾	2,578			—		3,076			—
Total business purpose mortgage banking activities, net	3,801			—		5,283			—
Mortgage Banking Activities, Net	$	19,160		$	10,596	$	31,469		$	37,172


(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 loans.


(3)	Amounts in this line item include other fee income from loan acquisitions and the provision for repurchases expense, presented net.

(4)

Amounts in this line item include other fee income from loan originations.