5. Derivatives

The Company's primary derivative instrument is forward delivery commitments, which relate to interest rate and price risk for mortgage loans held for sale and interest rate lock commitments. Derivative instruments are recorded in Other assets and Other liabilities in the Condensed Consolidated Balance Sheets. The Company does not have any derivative instruments designated as hedging instruments.

The following table summarizes the gross notional amount of derivatives:



	June 30, 2018		December 31, 2017
	(In millions)
Interest rate lock commitments	$	51	$	139
Forward delivery commitments	126		614

As of June 30, 2018 and December 31, 2017, the value of forward delivery commitments subject to master netting arrangements were not significant. As of June 30, 2018 and December 31, 2017, there were $2 million and $4 million of interest rate lock commitment assets not subject to master netting arrangements.

The following table summarizes the gains (losses) recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for derivative instruments:



	Three Months Ended June 30,					Six Months Ended June 30,
	2018		2017			2018		2017
	(In millions)
Gain on loans held for sale, net:
Interest rate lock commitments	$	4	$	7		$	7	$	19
Forward delivery commitments	—		(1		)	5		(2		)