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Mortgage Banking Activities
 12 Months Ended
Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Mortgage Banking Activities Mortgage Banking Activities
The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of income for the years ended December 31, 2019, 2018, and 2017.
Table 19.1 – Mortgage Banking Activities
 
 
Years Ended December 31,
(In Thousands)
 
2019
 
2018
 
2017
Residential Mortgage Banking Activities, Net
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
Residential loans, at fair value (1)
 
$
63,527

 
$
21,808

 
$
69,373

Risk management derivatives (2)
 
(17,519
)
 
35,248

 
(17,529
)
Other income (3)
 
1,735

 
2,567

 
2,064

Total residential mortgage banking activities, net
 
47,743

 
59,623

 
53,908

 
 
 
 
 
 
 
Business Purpose Mortgage Banking Activities, Net
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
Single-family rental loans, at fair value (1)
 
17,004

 
453

 
—

Risk management derivatives (2)
 
1,796

 
(510
)
 
—

Residential bridge loans, at fair value
 
4,518

 
—

 
—

Other income (4)
 
16,205

 
—

 
—

Total business purpose mortgage banking activities, net
 
39,523

 
(57
)
 
—

Mortgage Banking Activities, Net
 
$
87,266

 
$
59,566

 
$
53,908

(1)
For residential loans, includes changes in fair value for associated loan purchase and forward sale commitments. For single-family rental loans, includes changes in fair value for associated interest rate lock 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.