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Derivatives (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Contracts
The fair value of derivative contracts, computed in accordance with Newmark’s netting policy, is set forth below (in thousands):
 
As of June 30, 2020
 
As of December 31, 2019
Derivative contract
Assets
 
Liabilities
 
Notional
Amounts(1)
 
Assets
 
Liabilities
 
Notional
Amounts(1)
Rate lock commitments
$
50,170

  
$
1,114

 
$
390,213

 
$
32,035

 
$
12,124

 
$
1,396,827

Nasdaq Forwards
24,730

 
—

 
267,480

 
26,502

 
—

 
267,480

Forward sale contracts
2,325

 
50,617

 
1,454,484

 
14,389

 
13,537

 
1,606,943

Total
$
77,225

 
$
51,731

 
$
2,112,177

 
$
72,926

 
$
25,661

 
$
3,271,250

(1) 
Notional amounts represent the sum of gross long and short derivative contracts, an indication of the volume of Newmark’s derivative activity, and do not represent anticipated losses.
Summary of Gain (Loss) on Change in Fair Value of Derivatives Included in Condensed Consolidated Statements of Operations
Gains and losses on derivative contracts which are included on the unaudited condensed consolidated statements of operations were as follows (in thousands):
 
Location of gain (loss) recognized in income for derivatives
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2020
 
2019
 
2020
 
2019
Derivatives not designed as
hedging instruments:
 
 
 

 
 

 
 
 
 
Nasdaq Forwards
Other income (loss), net
 
$
(22,945
)
 
$
(15,638
)
 
$
(1,772
)
 
$
(28,967
)
Rate lock commitments
Gains from mortgage banking
   activities/originations, net
 
(10,208
)
 
14,292

 
49,955

 
21,379

Rate lock commitments
Compensation and employee benefits
 
512

 
211

 
(899
)
 
(1,856
)
Forward sale contracts
Gains (loss) from mortgage banking
   activities/originations, net
 
29,388

 
(20,784
)
 
(48,292
)
 
(24,416
)
Total
 
 
$
(3,253
)
 
$
(21,919
)
 
$
(1,008
)
 
$
(33,860
)