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Mortgage Banking Activities (Tables)
 12 Months Ended
Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Components of Mortgage Banking Activities, Net
The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of income (loss) for the years ended December 31, 2021, 2020, and 2019.
Table 19.1 – Mortgage Banking Activities
Years Ended December 31,
(In Thousands)202120202019
Residential Mortgage Banking Activities, Net
Changes in fair value of:
Residential loans, at fair value (1)
$83,733 $41,284 $63,527 
Trading securities (2)
(352)(4,535)— 
Risk management derivatives (3)
38,352 (26,376)(17,519)
Other income (expense), net (4)
5,418 (6,652)1,735 
Total residential mortgage banking activities, net127,151 3,721 47,743 
Business Purpose Mortgage Banking Activities, Net
Changes in fair value of:
Single-family rental loans, at fair value (1)
63,872 82,510 17,004 
Risk management derivatives (3)
2,708 (21,403)1,796 
Bridge loans, at fair value8,253 (4,998)4,518 
Other income, net (5)
33,760 18,642 16,205 
Total business purpose mortgage banking activities, net108,593 74,751 39,523 
Mortgage Banking Activities, Net$235,744 $78,472 $87,266 
(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 fair value changes on trading securities that are being used along with risk management derivatives as hedges to manage the mark-to-market risks associated with our residential mortgage banking operations.
(3)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations.
(4)Amounts in this line item include other fee income from loan acquisitions, provisions for repurchase expense, and expenses related to resolving residential loan seller demands, presented net.
(5)Amounts in this line item include other fee income from loan originations.