Net gains on loans acquired for sale are summarized below:


	Quarter ended September 30,						Nine months ended September 30,
	2024			2023			2024			2023
	(in thousands)
From nonaffiliates:
Cash losses:
Sales of loans	$	(23,594	)	$	(71,105	)	$	(94,999	)	$	(260,697	)
Hedging activities		(72,868	)		(30,155	)		(116,797	)		(52,822	)
		(96,462	)		(101,260	)		(211,796	)		(313,519	)
Non-cash gains:
Receipt of MSRs in mortgage loan sale transactions		87,588			58,560			159,456			249,925
Provision for losses relating to representations and warranties provided in loan sales:
Pursuant to loans sales		(459	)		(448	)		(917	)		(2,126	)
Reduction of liability due to change in estimate		5,180			4,365			18,598			7,920
		4,721			3,917			17,681			5,794
Changes in fair value of loans and derivatives
Interest rate lock commitments		4,349			(2,050	)		(1,631	)		(2,870	)
Loans		(9,528	)		(1,710	)		(3,721	)		4,569
Hedging derivatives		27,397			54,247			81,099			75,564
		22,218			50,487			75,747			77,263
		114,527			112,964			252,884			332,982
Total from nonaffiliates		18,065			11,704			41,088			19,463
From PFSI ‒ cash gains		1,994			1,854			5,649			5,014
	$	20,059		$	13,558		$	46,737		$	24,477