Derivatives (Tables)

3 Months Ended

Mar. 31, 2024

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):

	March 31, 2024						December 31, 2023
Derivative contract	Assets		Liabilities		Notional Amounts(1)		Assets		Liabilities		Notional Amounts(1)
Rate lock commitments	$	2,559	$	999	$	115,875	$	9,604	$	1,023	$	290,380
Forward Sales Contracts	2,131		857		612,340		1,259		20,304		792,662
Total	$	4,690	$	1,856	$	728,215	$	10,863	$	21,327	$	1,083,042

(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 accompanying unaudited condensed consolidated statements of operations were as follows (in thousands):

	Location of gains (losses) recognized in income for derivatives	Three Months Ended March 31,
		2024		2023
Derivatives not designed as hedging instruments:
Rate lock commitments	Commercial mortgage origination, net	2,029		7,067
Rate lock commitments	Compensation and employee benefits	(470)		(1,796)
Forward Sale Contracts	Commercial mortgage origination, net	1,275		1,696
Total		$	2,834	$	6,967