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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Aggregate Fair Value and Notional Amount of Derivative Financial Instruments
The following table presents the fair value and notional amount of our derivative financial instruments at December 31, 2017 and December 31, 2016.
Table 9.1 – Fair Value and Notional Amount of Derivative Financial Instruments
 
 
December 31, 2017
 
December 31, 2016
 
 
Fair
Value
 
Notional
Amount
 
Fair
Value
 
Notional
Amount
(In Thousands)
 
 
 
 
Assets - Risk Management Derivatives
 
 
 
 
 
 
 
 
Interest rate swaps
     
$
10,122

 
$
1,765,000

 
$
19,859

 
$
1,009,000

TBAs
 
133

 
295,000

 
8,300

 
850,000

Futures
 
1

 
7,500

 
—

 
—

Swaptions
 
42

 
200,000

 
5,121

 
345,000

Assets - Other Derivatives
 
 
 
 
 
 
 
 
Loan purchase commitments
 
3,243

 
547,434

 
3,315

 
352,981

Loan forward sale commitments
 
2,177

 
343,681

 
—

 
—

Total Assets
 
$
15,718

 
$
3,158,615

 
$
36,595

 
$
2,556,981

 
 
 
 
 
 
 
 
 
Liabilities - Cash Flow Hedges
 
 
 
 
 
 
 
 
Interest rate swaps
 
$
(43,679
)
 
$
139,500

 
$
(44,822
)
 
$
139,500

Liabilities - Risk Management Derivatives
 
 
 
 
 
 
 
 
Interest rate swaps
 
(11,888
)
 
1,248,000

 
(12,097
)
 
1,101,500

TBAs
 
(3,808
)
 
1,400,000

 
(4,681
)
 
510,000

Futures
 
—

 
—

 
(928
)
 
87,500

Liabilities - Other Derivatives
 
 
 
 
 
 
 
 
Loan purchase commitments
 
(3,706
)
 
697,966

 
(3,801
)
 
584,862

Total Liabilities
 
$
(63,081
)
 
$
3,485,466

 
$
(66,329
)
 
$
2,423,362

Total Derivative Financial Instruments, Net
 
$
(47,363
)
 
$
6,644,081

 
$
(29,734
)
 
$
4,980,343
Impact on Interest Expense of Interest Rate Agreements Accounted for as Cash Flow Hedges
The following table illustrates the impact on interest expense of our interest rate agreements accounted for as cash flow hedges for the years ended December 31, 2017, 2016, and 2015.
Table 9.2 – Impact on Interest Expense of Interest Rate Agreements Accounted for as Cash Flow Hedges
 
 
Years Ended December 31,
(In Thousands)
 
2017
 
2016
 
2015
Net interest expense on cash flows hedges
 
$
(4,602
)
 
$
(5,317
)
 
$
(5,883
)
Realized net losses reclassified from other comprehensive income
 
(45
)
 
(72
)
 
(95
)
Total Interest Expense
 
$
(4,647
)
 
$
(5,389
)
 
$
(5,978
)