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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2019
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, 2019 and December 31, 2018.
Table 11.1 – Fair Value and Notional Amount of Derivative Financial Instruments
 
 
December 31, 2019
 
December 31, 2018
 
 
Fair
Value
 
Notional
Amount
 
Fair
Value
 
Notional
Amount
(In Thousands)
 
 
 
 
Assets - Risk Management Derivatives
 
 
 
 
 
 
 
 
Interest rate swaps
     
$
17,095

 
$
1,399,000

 
$
28,211

 
$
2,106,500

TBAs
 
5,755

 
2,445,000

 
4,665

 
520,000

Interest rate futures
 
777

 
213,700

 
—

 
—

Swaptions
 
1,925

 
1,065,000

 
—

 
—

Assets - Other Derivatives
 
 
 
 
 
 
 
 
Loan purchase and interest rate lock commitments
 
10,149

 
1,537,162

 
2,913

 
331,161

Total Assets
 
$
35,701

 
$
6,659,862

 
$
35,789

 
$
2,957,661

 
 
 
 
 
 
 
 
 
Liabilities - Cash Flow Hedges
 
 
 
 
 
 
 
 
Interest rate swaps
 
$
(51,530
)
 
$
139,500

 
$
(34,492
)
 
$
139,500

Liabilities - Risk Management Derivatives
 
 
 
 
 
 
 
 
Interest rate swaps
 
(97,235
)
 
2,314,300

 
(36,416
)
 
1,742,000

TBAs
 
(13,359
)
 
4,160,000

 
(13,215
)
 
935,000

Interest rate futures
 
(10
)
 
12,300

 
—

 
—

Liabilities - Other Derivatives
 
 
 
 
 
 
 
 
Loan purchase commitments
 
(1,290
)
 
303,394

 
(732
)
 
137,224

Total Liabilities
 
$
(163,424
)
 
$
6,929,494

 
$
(84,855
)
 
$
2,953,724

Total Derivative Financial Instruments, Net
 
$
(127,723
)
 
$
13,589,356

 
$
(49,066
)
 
$
5,911,385
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, 2019, 2018, and 2017.
Table 11.2 – Impact on Interest Expense of Interest Rate Agreements Accounted for as Cash Flow Hedges
 
 
Years Ended December 31,
(In Thousands)
 
2019
 
2018
 
2017
Net interest expense on cash flows hedges
 
$
(2,847
)
 
$
(3,228
)
 
$
(4,602
)
Realized net losses reclassified from other comprehensive income
 
—

 
—

 
(45
)
Total Interest Expense
 
$
(2,847
)
 
$
(3,228
)
 
$
(4,647
)