Gains from Mortgage Banking Activities

12 Months Ended

Dec. 31, 2015

GAINS FROM MORTGAGE BANKING ACTIVITIES

Gains from mortgage banking activities

NOTE 3—GAINS FROM MORTGAGE BANKING ACTIVITIES

Gains from mortgage banking activities consist of the following activity for each of the years ended December 31, 2015, 2014, and 2013:

	Year Ended December 31,
(in thousands)	2015		2014		2013
Contractual loan origination related fees, net	$	156,835	$	125,468	$	111,699
Fair value of expected net cash flows from servicing recognized at commitment		142,420		103,410		97,115
Fair value of expected guaranty obligation recognized at commitment		(8,789)		(6,895)		(5,143)
Total gains from mortgage banking activities	$	290,466	$	221,983	$	203,671