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Mortgage Loans in Process of Securitization
12 Months Ended
Dec. 31, 2021
Mortgage Loans in Process of Securitization.  
Mortgage Loans in Process of Securitization

Note 4: Mortgage Loans in Process of Securitization

Mortgage loans in process of securitization are recorded at fair value with changes in fair value recorded in earnings. These include multi-family rental real estate loan originations to be sold as Government National Mortgage

Association (“Ginnie Mae”) mortgage-backed securities and Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”) participation certificates, all of which are pending settlement with firm investor commitments to purchase the securities, typically occurring within 30 days. The fair value increases recorded in earnings for mortgage loans in process of securitization totaled $10.6 million and $2.4 million at December 31, 2021 and 2020, respectively.