Loans Held-for-Sale, Net

3 Months Ended

Mar. 31, 2018

Note 4 — Loans Held-for-Sale, Net

Loans held-for-sale, net consists of the following (in thousands):

	March 31, 2018			December 31, 2017

Fannie Mae	$	178,222		$	243,717
Freddie Mac	77,180			47,545
FHA	26,359			987

	281,761			292,249
Fair value of future MSR	5,200			5,806
Unearned discount	(636		)	(612		)

Loans held-for-sale, net	$	286,325		$	297,443

Our loans held-for-sale, net are typically sold within 60 days of loan origination and the gain on sales are included in gain on sales, including fee-based services, net in the consolidated statements of income. During the three months ended March 31, 2018 and 2017, we sold $1.06 billion and $1.36 billion, respectively, of loans held-for-sale and recorded gain on sales of $17.4 million and $18.1 million, respectively. At March 31, 2018 and December 31, 2017, there were no loans held-for-sale that were 90 days or more past due, and there were no loans held-for-sale that were placed on a non-accrual status.