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Derivative Financial Instruments and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Activity | The following table summarizes derivative activity, including the derivatives used in each of our identified hedging programs. The notional amount of our contracts does not represent our exposure to credit loss. None of the derivatives were designated as a hedge for accounting purposes as of, or during the six months ended June 30, 2020 and 2019:
| IRLCs |  | Interest Rate Risk
| MSR Hedging |  | IRLCs and Loans Held for Sale |  | Borrowings
| TBA / Forward MBS Trades and Futures (1) |  | Forward Trades |  | Interest Rate Caps
Notional balance at June 30, 2020 (2) | $ | 507,632 |  |  | $ | 395,000 |  |  | $ | 80,000 |  |  | $ | — |
Notional balance at December 31, 2019 | 232,566 |  |  | 1,200,000 |  |  | 60,000 |  |  | 27,083 |
Maturity | July 2020 - Sept. 2020 |  | Sept. 2020 |  | July 2020 - Aug. 2020 |  | N/A
Fair value of derivative assets (liabilities) at: |  |  |  |  |  |  |  |  |  |  |
June 30, 2020 | $ | 17,818 |  |  | $ | 5,019 |  |  | $ | (1,017 | ) |  | $ | — |
December 31, 2019 | 4,878 |  |  | 1,121 |  |  | (92 | ) |  | — |
Gains (losses) on derivatives during the six months ended: | Gain on loans held for sale, net |  | MSR valuation adjustments, net |  | Gain on loans held for sale, net |  | Other, net
June 30, 2020 | $ | 12,048 |  |  | $ | 42,811 |  |  | $ | (10,320 | ) |  | $ | — |
June 30, 2019 | (296 | ) |  | $ | — |  |  | (3,238 | ) |  | (335 | )
(1) | The June 30, 2020 balance is comprised of $395.0 million notional balance and $5.0 million fair value, of interest rate swap futures (zero at December 31, 2019). The related gain on these interest rate futures for the six months ended June 30, 2020 was $5.0 million.
(2) Includes $30.2 million IRLC and $80.0 million forward trades related to reverse mortgage loans, for which we recorded a $0.7 million hedging gain in Reverse mortgage revenue, net for the six months ended June 30, 2020.

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
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