GAINS FROM MORTGAGE BANKING ACTIVITIES

3 Months Ended

Mar. 31, 2017

GAINS FROM MORTGAGE BANKING ACTIVITIES

Gains from mortgage banking activities

NOTE 3—GAINS FROM MORTGAGE BANKING ACTIVITIES

Gains from mortgage banking activities consisted of the following activity for the three months ended March 31, 2017 and 2016:

	For the three months ended
	March 31,
(in thousands)	2017		2016
Contractual loan origination related fees, net	$	50,897	$	22,406
Fair value of expected net cash flows from servicing recognized at commitment		48,677		25,427
Fair value of expected guaranty obligation recognized at commitment		(3,142)		(1,510)
Total gains from mortgage banking activities	$	96,432	$	46,323

The origination fees shown in the table are net of co-broker fees of $3.7 million and $5.4 million for the three months ended March 31, 2017 and 2016, respectively.