GAINS FROM MORTGAGE BANKING ACTIVITIES

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2018 and 2017:

	For the three months ended				For the six months ended
	June 30,				June 30,
(in thousands)	2018		2017		2018		2017
Contractual loan origination related fees, net	$	55,193	$	57,507	$	104,009	$	108,404
Fair value of expected net cash flows from servicing recognized at commitment		51,725		48,318		86,953		96,995
Fair value of expected guaranty obligation recognized at commitment		(4,681)		(3,649)		(7,216)		(6,791)
Total gains from mortgage banking activities	$	102,237	$	102,176	$	183,746	$	198,608

The origination fees shown in the table are net of co-broker fees of $6.9 million and $6.5 million for the three months ended June 30, 2018 and 2017, respectively, and $12.4 million and $10.2 million for the six months ended June 30, 2018 and 2017, respectively.