GAINS FROM MORTGAGE BANKING ACTIVITIES

3 Months Ended

Mar. 31, 2018

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, 2018 and 2017:

	For the three months ended
	March 31,
(in thousands)	2018		2017
Contractual loan origination related fees, net	$	48,816	$	50,897
Fair value of expected net cash flows from servicing recognized at commitment		35,228		48,677
Fair value of expected guaranty obligation recognized at commitment		(2,535)		(3,142)
Total gains from mortgage banking activities	$	81,509	$	96,432

The origination fees shown in the table are net of co-broker fees of $5.6 million and $3.7 million for the three months ended March 31, 2018 and 2017, respectively.