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Mortgage Banking Activities | 12 Months Ended
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Dec. 31, 2023
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 (loss) for the years ended December 31, 2023, 2022, and 2021. Table 20.1 – Mortgage Banking Activities
|  | Years Ended December 31,
(In Thousands) |  | 2023 |  | 2022 |  | 2021
Residential Consumer Mortgage Banking Activities, Net |  |  |  |  |  |
Changes in fair value of: |  |  |  |  |  |
Residential loans, at fair value (1) |  | $ | 42,976 |  |  | $ | (131,675) |  |  | $ | 83,733 |
Trading securities (2) |  | (159) |  |  | 4,249 |  |  | (352) |
Risk management derivatives (3) |  | (17,908) |  |  | 100,713 |  |  | 38,352 |
Other income (expense), net (4) |  | 2,873 |  |  | 5,431 |  |  | 5,418 |
Total residential consumer mortgage banking activities, net |  | 27,782 |  |  | (21,282) |  |  | 127,151 |
Residential Investor Mortgage Banking Activities, Net: |  |  |  |  |  |
Changes in fair value of: |  |  |  |  |  |
BPL term loans, at fair value (1) |  | 16,500 |  |  | (91,690) |  |  | 63,872 |
BPL bridge loans, at fair value |  | 5,704 |  |  | 2,679 |  |  | 8,253 |
Risk management derivatives (3) |  | (914) |  |  | 56,731 |  |  | 2,708 |
Other income, net (5) |  | 18,314 |  |  | 39,903 |  |  | 33,760 |
Total residential investor mortgage banking activities, net |  | 39,604 |  |  | 7,623 |  |  | 108,593 |
Mortgage Banking Activities, Net |  | $ | 67,386 |  |  | $ | (13,659) |  |  | $ | 235,744 |
(1)For residential loans, includes changes in fair value for associated loan purchase commitments. For business purpose loans, includes changes in fair value for associated interest rate lock commitments. (2)Represents fair value changes on trading securities that are being used as hedges to manage the mark-to-market risks associated with our residential consumer 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, and provisions for repurchases, presented net. (5)Amounts in this line item include other fee income from loan originations.

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- Definition The entire disclosure for Mortgage Banking Activities, Net. Mortgage banking activities include the components of the contribution to net income from our residential and commercial loan business activities. This includes valuation changes related to residential and commercial loans and the derivatives used to manage certain risks associated with the residential and commercial loans we own or plan to acquire and securitize, valuation changes of retained Sequoia IO securities, and gains from mortgage loan sales. + References No definition available. + Details
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