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Mortgage Banking Activities, Net (Tables) | 3 Months Ended
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Mar. 31, 2024
Mortgage Banking [Abstract] |
Schedule of Mortgage Banking Activities | The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of income for the three months ended March 31, 2024 and 2023. Table 20.1 – Mortgage Banking Activities
|  | Three Months Ended March 31, |  |
(In Thousands) |  | 2024 |  | 2023 |  |  |  |
Residential Consumer Mortgage Banking Activities, Net |  |  |  |  |  |  |  |
Changes in fair value of: |  |  |  |  |  |  |  |
Residential consumer loans, at fair value (1) |  | $ | (3,854) |  |  | $ | 6,755 |  |  |  |  |
Trading securities (2) |  | 8,511 |  |  | — |  |  |  |  |
Risk management derivatives (3) |  | 3,089 |  |  | (3,371) |  |  |  |  |
Other income, net (4) |  | 81 |  |  | (19) |  |  |  |  |
Total residential consumer mortgage banking activities, net |  | 7,827 |  |  | 3,365 |  |  |  |  |
Residential Investor Mortgage Banking Activities, Net: |  |  |  |  |  |  |  |
Changes in fair value of: |  |  |  |  |  |  |  |
Residential investor term loans, at fair value |  | (296) |  |  | 12,700 |  |  |  |  |
Residential investor bridge loans, at fair value |  | 946 |  |  | 1,119 |  |  |  |  |
Risk management derivatives (3) |  | 2,509 |  |  | (5,096) |  |  |  |  |
Other income, net (5) |  | 3,570 |  |  | 4,583 |  |  |  |  |
Total residential investor mortgage banking activities, net |  | 6,729 |  |  | 13,306 |  |  |  |  |
Mortgage Banking Activities, Net |  | $ | 14,556 |  |  | $ | 16,671 |  |  |  |  |
(1)For residential consumer loans, includes changes in fair value for associated loan purchase commitments. (2)For the three months ended March 31, 2024, this represents the fair value changes on trading securities being used as hedges to manage the mark-to-market risks associated with our residential consumer mortgage banking operations. For the three months ended March 31, 2023, we did not utilize trading securities as hedging instruments. (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 Tabular disclosure of the components of mortgage banking activities, net. This includes market valuations related to residential and commercial loans, retained Sequoia IOs, and mortgage banking derivatives, as well as realized gains or losses associated with residential and commercial loan sales and securitizations. + References No definition available. + Details
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