A reconciliation of the changes in residential loans held for sale is presented in the following table (in thousands):



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2014			2013			2014			2013
Balance at beginning of period	$	630,456		$	278,474		$	1,015,607		$	45,065
Purchases and originations of loans held for sale	4,453,761			4,848,332			8,037,309			5,281,349
Proceeds from sales of and payments on loans held for sale ⁽¹⁾	(4,045,058		)	(3,522,518		)	(8,104,759		)	(3,749,979		)
Realized gains on sales of loans ⁽²⁾	102,517			67,218			189,350			75,526
Change in unrealized gains (losses) on loans held for sale ⁽²⁾	23,353			(15,897		)	19,177			(2,271		)
Interest income ⁽²⁾	8,721			8,473			17,066			9,261
Transfers from loans held for investment	—			43			—			5,183
Other	(162		)	90			(162		)	81
Balance at end of period	$	1,173,588		$	1,664,215		$	1,173,588		$	1,664,215

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(1)	Excludes realized gains (losses) on freestanding derivatives.


(2)	Amount is a component of net gains on sales of loans on the consolidated statements of comprehensive income (loss). Refer to Note 6 for additional information.