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Mortgage Banking Activities, Net
 9 Months Ended
Sep. 30, 2019
Mortgage Banking [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 three and nine months ended September 30, 2019 and 2018.
Table 19.1 – Mortgage Banking Activities
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In Thousands)
 
2019
 
2018
 
2019
 
2018
Residential Mortgage Banking Activities, Net
 
 
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
 
 
Residential loans, at fair value (1)
 
$
6,320

 
$
7,236

 
$
41,431

 
$
8,406

Risk management derivatives (2)
 
(1,710
)
 
3,796

 
(11,608
)
 
38,378

Other income, net (3)
 
407

 
313

 
1,380

 
1,733

Total residential mortgage banking activities, net
 
5,017

 
11,345

 
31,203

 
48,517

 
 
 
 
 
 
 
 
 
Business Purpose Mortgage Banking Activities, Net:
 
 
 
 
 
 
 
 
Changes in fair value of:
 
 
 
 
 
 
 
 
Single-family rental loans, at fair value (1)
 
1,847

 
(121
)
 
5,473

 
(121
)
Risk management derivatives (2)
 
(1,262
)
 
—

 
(3,779
)
 
—

Residential bridge loans, at fair value
 
1,010

 
—

 
2,108

 
—

Other income, net (4)
 
2,903

 
—

 
5,979

 
—

Total business purpose mortgage banking activities, net
 
4,498

 
(121
)
 
9,781

 
(121
)
Mortgage Banking Activities, Net
 
$
9,515

 
$
11,224

 
$
40,984

 
$
48,396

(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 loans.
(3)
Amounts in this line item include other fee income from loan acquisitions and the provision for repurchases expense, presented net.
(4)
Amounts in this line item include other fee income from loan originations.