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Mortgage Banking Activities, Net | 9 Months Ended
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Sep. 30, 2024
Mortgage Banking [Abstract] |
Mortgage Banking Activities, Net | Mortgage Banking Activities, Net The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of income for the three and nine months ended September 30, 2024 and 2023. Table 5.1 – Mortgage Banking Activities
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In Thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Residential Consumer Mortgage Banking Activities, Net: |  |  |  |  |  |  |  |
Changes in fair value of: |  |  |  |  |  |  |  |
Residential consumer loans, at fair value (1) |  | $ | 20,959 |  |  | $ | (2,819) |  |  | $ | 31,410 |  |  | $ | 5,272 |
Trading securities (2) |  | (28,630) |  |  | (482) |  |  | (17,508) |  |  | 2,188 |
Risk management derivatives (3) |  | 34,051 |  |  | 12,158 |  |  | 25,121 |  |  | 10,508 |
Other income, net (4) |  | 335 |  |  | 107 |  |  | 1,764 |  |  | 1,422 |
Total residential consumer mortgage banking activities, net |  | 26,715 |  |  | 8,964 |  |  | 40,787 |  |  | 19,390 |
Residential Investor Mortgage Banking Activities, Net: |  |  |  |  |  |  |  |
Changes in fair value of: |  |  |  |  |  |  |  |
Residential investor term loans, at fair value |  | 6,061 |  |  | 1,600 |  |  | 11,833 |  |  | 13,214 |
Residential investor bridge loans, at fair value |  | 694 |  |  | 1,438 |  |  | 2,748 |  |  | 4,808 |
Risk management derivatives (3) |  | 551 |  |  | 3,434 |  |  | 2,692 |  |  | 1,295 |
Other income, net (5) |  | 5,548 |  |  | 4,004 |  |  | 14,989 |  |  | 13,956 |
Total residential investor mortgage banking activities, net |  | 12,854 |  |  | 10,476 |  |  | 32,262 |  |  | 33,273 |
Mortgage Banking Activities, Net |  | $ | 39,569 |  |  | $ | 19,440 |  |  | $ | 73,049 |  |  | $ | 52,663 |
(1)Includes changes in fair value for associated loan purchase commitments for residential consumer loans. (2)For the three and nine months ended September 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.

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