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Mortgage Banking Activities, Net
 6 Months Ended
Jun. 30, 2025
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 six months ended June 30, 2025 and 2024.
Table 5.1 – Mortgage Banking Activities
Three Months Ended June 30,Six Months Ended June 30,
(In Thousands)2025202420252024
Sequoia Mortgage Banking Activities, Net:
Changes in fair value of:
Residential consumer loans, at fair value (1)
$15,095 $14,305 $45,694 $10,451 
Trading securities (2)
(38,645)2,611 (67,972)11,122 
Risk management derivatives (3)
47,028 (12,019)67,815 (8,930)
Other income, net (4)
921 1,348 1,013 1,429 
Total Sequoia mortgage banking activities, net24,399 6,245 46,550 14,072 
CoreVest Mortgage Banking Activities, Net:
Changes in fair value of:
Residential investor term loans, at fair value (1)
4,560 6,068 11,490 5,772 
Residential investor bridge loans, at fair value3,573 1,108 4,605 2,054 
Risk management derivatives (3)
1,107 (368)(1,838)2,141 
Other income, net (4) (5)
7,218 5,871 13,103 9,441 
Total CoreVest mortgage banking activities, net16,458 12,679 27,360 19,408 
Mortgage Banking Activities, Net$40,857 $18,924 $73,910 $33,480 
(1)Includes changes in fair value for associated loan purchase commitments for residential consumer loans and associated interest rate lock commitments for residential investor term loans.
(2)Represents fair value changes on trading securities that are being used as hedges to manage the mark-to-market risks associated with our Sequoia mortgage banking operations.
(3)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking operations and other derivative financial instruments such as loan purchase commitments and interest rate locks.
(4)Amounts in this line item include other fee income from loan acquisitions, and provisions for repurchases, presented net.
(5)Amounts in this line item include other fee income from loan originations.