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Mortgage Banking Activities, Net
 12 Months Ended
Dec. 31, 2017
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, 2017, 2016, and 2015.
Table 17.1 – Mortgage Banking Activities
 
 
Years Ended December 31,
(In Thousands)
 
2017
 
2016
 
2015
Residential Mortgage Banking Activities, Net
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
Residential loans, at fair value (1)
 
$
69,373

 
$
31,399

 
$
53,946

Sequoia securities
 
—

 
1,455

 
(15,261
)
Risk management derivatives (2)
 
(17,529
)
 
5,696

 
(34,457
)
Other income (expense), net (3)
 
2,064

 
2,203

 
4,040

Total residential mortgage banking activities, net
 
53,908

 
40,753

 
8,268

Commercial Mortgage Banking Activities, Net
 
—

 
(2,062
)
 
2,704

Mortgage Banking Activities, Net
 
$
53,908

 
$
38,691

 
$
10,972


(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 loans.
(3)
Amounts in this line item include other fee income from loan acquisitions and the provision for repurchases expense, presented net.