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Mortgage Banking Activities, Net (Tables)
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2024 and 2023.
Table 5.1 – Mortgage Banking Activities
Three Months Ended June 30,Six Months Ended June 30,
(In Thousands)2024202320242023
Residential Consumer Mortgage Banking Activities, Net:
Changes in fair value of:
Residential consumer loans, at fair value (1)
$14,305 $1,335 $10,451 $8,090 
Trading securities (2)
2,611 1,923 11,122 1,923 
Risk management derivatives (3)
(12,019)2,469 (8,930)(902)
Other income, net (4)
1,348 1,334 1,429 1,315 
Total residential consumer mortgage banking activities, net6,245 7,061 14,072 10,426 
Residential Investor Mortgage Banking Activities, Net:
Changes in fair value of:
Residential investor term loans, at fair value6,068 (1,132)5,772 11,534 
Residential investor bridge loans, at fair value1,108 2,297 2,054 3,450 
Risk management derivatives (3)
(368)2,957 2,141 (2,139)
Other income, net (5)
5,871 5,369 9,441 9,952 
Total residential investor mortgage banking activities, net12,679 9,491 19,408 22,797 
Mortgage Banking Activities, Net$18,924 $16,552 $33,480 $33,223 
(1)Includes changes in fair value for associated loan purchase commitments for residential consumer loans,.
(2)For the three and six months ended June 30, 2024 and 2023, 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.
(3)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations and other derivative financial instruments such as loan purchase commitments and interest rate locks.
(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.