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Mortgage Banking Activities
 12 Months Ended
Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Mortgage Banking Activities Mortgage Banking Activities
The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of income for the years ended December 31, 2020, 2019, and 2018.
Table 19.1 – Mortgage Banking Activities
Years Ended December 31,
(In Thousands)202020192018
Residential Mortgage Banking Activities, Net
Changes in fair value of:
Residential loans, at fair value (1)
$41,284 $63,527 $21,808 
Trading securities (2)
(4,535)— — 
Risk management derivatives (3)
(26,376)(17,519)35,248 
Other income (expense), net (4)
(6,652)1,735 2,567 
Total residential mortgage banking activities, net3,721 47,743 59,623 
Business Purpose Mortgage Banking Activities, Net
Changes in fair value of:
Single-family rental loans, at fair value (1)
82,510 17,004 453 
Risk management derivatives (3)
(21,403)1,796 (510)
Bridge loans, at fair value(4,998)4,518 — 
Other income, net (5)
18,642 16,205 — 
Total business purpose mortgage banking activities, net74,751 39,523 (57)
Mortgage Banking Activities, Net$78,472 $87,266 $59,566 
(1)For residential loans, includes changes in fair value for associated loan purchase and forward sale commitments. For single-family rental loans, includes changes in fair value for associated interest rate lock commitments.
(2)Represents fair value changes on trading securities that are being used along with risk management derivatives as hedges to manage the mark-to-market risks associated with our residential mortgage banking operations.
(3)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations.
(4)Amounts in this line item include other fee income from loan acquisitions, provisions for repurchase expense, and expenses related to resolving residential loan seller demands, presented net.
(5)Amounts in this line item include other fee income from loan originations.