Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Changes in Notional Balances of Holdings of Derivatives

The following table summarizes derivative activity, including the derivatives used in each of our identified hedging programs. The notional amount of our contracts does not represent our exposure to credit loss. None of the derivatives were designated as a hedge for accounting purposes as of or during the years ended December 31, 2019, 2018 and 2017:



			Interest Rate Risk
			MSR Hedging		IRLCs and Loans Held for Sale			Borrowings
	IRLCs		TBA / Forward MBS Trades		Forward Trades			Interest Rate Caps
Notional balance at December 31, 2019	$	232,566	$	1,200,000	$	60,000		$	27,083

Maturity	Jan. 2020 - Mar. 2020		Jan. 2020 - Mar. 2020		Jan. 2020			May 2020

Fair value of derivative assets (liabilities) at:
December 31, 2019	$	4,878	1,121		$	(92	)	$	—
December 31, 2018	3,871		—		(4,983		)	678

Gains (losses) on derivatives during the years ended:	Gain on loans held for sale, net		MSR valuation adjustments, net		Gain on loans held for sale, net			Other, net
December 31, 2019	$	756	525		$	(2,689	)	$	(358	)
December 31, 2018	3,809		—		136			(841		)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details