v3.26.1
Mortgage Banking Activities, Net (Tables)
 6 Months Ended
Jun. 30, 2026
Mortgage Banking [Abstract]  
Schedule of Mortgage Banking Activities, Net The following table presents the components of Mortgage banking activities, net, recorded in our consolidated statements of (loss) income for the three and six months ended June 30, 2026 and 2025.
Table 5.1 – Mortgage Banking Activities
Three Months Ended June 30,Six Months Ended June 30,
(In Thousands)2026202520262025
Sequoia Mortgage Banking Activities, Net:
Changes in fair value of:
Residential consumer loans, at fair value (1)
$48,709 $14,019 $69,237 $44,392 
Trading securities (2)
6,047 (38,645)42,914 (67,972)
Risk management derivatives (3)
(45,753)48,069 (81,664)68,856 
Other income, net (4)
3,941 870 4,508 956 
Total Sequoia mortgage banking activities, net12,944 24,313 34,995 46,232 
Aspire Mortgage Banking Activities, Net:
Changes in fair value of:
Residential consumer loans, at fair value (1)
(7,561)1,076 (9,803)1,302 
Trading securities (2)
972 — 1,300 — 
Risk management derivatives (3)
15,238 (1,041)19,466 (1,041)
Other income, net (4)
550 48 920 54 
Total Aspire mortgage banking activities, net9,199 83 11,883 315 
CoreVest Mortgage Banking Activities, Net:
Changes in fair value of:
Residential investor term loans, at fair value (1)
2,627 4,560 961 11,490 
Residential investor bridge loans, at fair value836 3,574 1,200 4,606 
Trading securities (2)
1,009 — 1,009 — 
Risk management derivatives (3)
(18)1,107 283 (1,838)
Other income, net (4) (5)
5,474 7,220 13,704 13,105 
Total CoreVest mortgage banking activities, net9,928 16,461 17,157 27,363 
Mortgage Banking Activities, Net$32,071 $40,857 $64,035 $73,910 
(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 platform.
(3)Represents market valuation changes of derivatives that were used to manage risks associated with our mortgage banking platforms 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.