GAINS FROM MORTGAGE BANKING ACTIVITIES

12 Months Ended

Dec. 31, 2017

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, 2017, 2016, and 2015:

	For the year ended December 31,
(in thousands)	2017		2016		2015
Contractual loan origination related fees, net	$	245,484	$	174,360	$	156,835
Fair value of expected net cash flows from servicing recognized at commitment		207,662		205,311		142,420
Fair value of expected guaranty obligation recognized at commitment		(13,776)		(12,486)		(8,789)
Total gains from mortgage banking activities	$	439,370	$	367,185	$	290,466