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Mortgage Banking Activities, Net
 12 Months Ended
Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Mortgage Banking Activities, Net
Mortgage Banking Activities, Net
The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of income for the years ended December 31, 2016, 2015, and 2014.
Table 18.1 – Mortgage Banking Activities
 
 
Years Ended December 31,
(In Thousands)
 
2016
 
2015
 
2014
Residential Mortgage Banking Activities, Net:
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
Residential loans, at fair value (1)
 
$
31,399

 
$
53,946

 
$
65,202

Sequoia securities
 
1,455

 
(15,261
)
 
(23,839
)
Risk management derivatives (2)
 
5,696

 
(34,457
)
 
(23,277
)
Other income (expense), net (3)
 
2,203

 
4,040

 
3,468

Total residential mortgage banking activities, net:
 
40,753

 
8,268

 
21,554

 
 
 
 
 
 
 
Commercial Mortgage Banking Activities, Net:
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
Commercial loans, at fair value
 
433

 
10,265

 
20,789

Risk management derivatives (2)
 
(2,538
)
 
(8,011
)
 
(7,890
)
Other fee income
 
43

 
450

 
541

Total commercial mortgage banking activities, net:
 
(2,062
)
 
2,704

 
13,440

Mortgage Banking Activities, Net
 
$
38,691

 
$
10,972

 
$
34,994


(1)
Includes changes in fair value for associated loan purchase and forward sale commitments.
(2)
Represents market valuation changes of derivatives that were used to manage risks associated with our accumulation of residential and commercial loans.
(3)
Amounts in this line item include other fee income from loan acquisitions and the provision for repurchases expense, presented net.