LOAN SALES AND MORTGAGE SERVICING RIGHTS	3 Months Ended
Mar. 31, 2022
LOAN SALES AND MORTGAGE SERVICING RIGHTS
LOAN SALES AND MORTGAGE SERVICING RIGHTS	NOTE 7: LOAN SALES AND MORTGAGE SERVICING RIGHTS In 2021, FFB sold $559 million of multifamily loans and recognized a gain of $21.5 million. For the sales of multifamily loans in 2021, FFB retained servicing rights for the majority of these loans and recognized mortgage servicing rights as part of the transactions. As of March 31, 2022 and December 31, 2021, mortgage servicing rights were $9.5 million and $6.8 million, respectively. The mortgage servicing rights as of March 31, 2022 and December 31, 2021 are net of $3.1 million and $1.9 million valuation allowances, respectively. The amount of loans serviced for others totaled $1.2 billion and $1.7 billion at March 31, 2022 and December 31, 2021, respectively. Servicing fees for the first three months of 2022 and 2021 were $0.5 million and $0.5 million, respectively.

LOAN SALES AND MORTGAGE SERVICING RIGHTS

3 Months Ended

Mar. 31, 2022

LOAN SALES AND MORTGAGE SERVICING RIGHTS

LOAN SALES AND MORTGAGE SERVICING RIGHTS

NOTE 7: LOAN SALES AND MORTGAGE SERVICING RIGHTS

In 2021, FFB sold $559 million of multifamily loans and recognized a gain of $21.5 million. For the sales of multifamily loans in 2021, FFB retained servicing rights for the majority of these loans and recognized mortgage servicing rights as part of the transactions. As of March 31, 2022 and December 31, 2021, mortgage servicing rights were $9.5 million and $6.8 million, respectively. The mortgage servicing rights as of March 31, 2022 and December 31, 2021 are net of $3.1 million and $1.9 million valuation allowances, respectively. The amount of loans serviced for others totaled $1.2 billion and $1.7 billion at March 31, 2022 and December 31, 2021, respectively. Servicing fees for the first three months of 2022 and 2021 were $0.5 million and $0.5 million, respectively.