GAINS FROM MORTGAGE BANKING ACTIVITIES

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2017 and 2016:

	For the three months ended				For the six months ended
	June 30,				June 30,
(in thousands)	2017		2016		2017		2016
Contractual loan origination related fees, net	$	57,507	$	46,874	$	108,404	$	69,280
Fair value of expected net cash flows from servicing recognized at commitment		48,318		59,580		96,995		85,007
Fair value of expected guaranty obligation recognized at commitment		(3,649)		(4,001)		(6,791)		(5,511)
Total gains from mortgage banking activities	$	102,176	$	102,453	$	198,608	$	148,776

The origination fees shown in the table are net of co-broker fees of $6.5 million and $11.1 million for the three months ended June 30, 2017 and 2016, respectively, and $10.2 million and $16.6 million for the six months ended June 30, 2017 and 2016, respectively.