GAINS FROM MORTGAGE BANKING ACTIVITIES

6 Months Ended

Jun. 30, 2011

GAINS FROM MORTGAGE BANKING ACTIVITIES

GAINS FROM MORTGAGE BANKING ACTIVITIES

NOTE 3—GAINS FROM MORTGAGE BANKING ACTIVITIES

The gains from mortgage banking activities consist of the following activity for the three and six months ended June 30, 2011 and 2010 (in thousands):

	For the three months ended June 30,						For the six months ended June 30,
	2011			2010			2011			2010
Contractual loan origination related fees, net	$	15,335		$	8,866		$	22,693		$	24,844
Fair value of expected future cash flows from servicing recognized at commitment	16,495			12,952			26,550			22,357
Fair value of expected guaranty obligation	(541		)	(645		)	(1,127		)	(988		)
Total gains from mortgage banking activities	$	31,289		$	21,173		$	48,116		$	46,213