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Fair Value (Tables)
6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Undesignated Derivative Instruments

The undesignated derivative instruments are included on the accompanying condensed consolidated balance sheet, as of June 30, 2017, as follows:

 

 

 

Fair Value

 

 

Balance Sheet Location

Rate lock commitments:

 

 

 

 

 

 

Gross assets

 

$

6,559

 

 

 

Gross liabilities

 

 

5,048

 

 

 

Net rate lock commitments

 

$

1,511

 

 

NVRM - Other assets

Forward sales contracts:

 

 

 

 

 

 

Gross assets

 

$

3,003

 

 

 

Gross liabilities

 

 

26

 

 

 

Net forward sales contracts

 

$

2,977

 

 

NVRM - Other assets

 

Fair Value Measurement

The fair value measurement as of June 30, 2017 was as follows:

 

 

 

Notional or

Principal

Amount

 

 

Assumed

Gain/(Loss)

From Loan

Sale

 

 

Interest

Rate

Movement

Effect

 

 

Servicing

Rights

Value

 

 

Security

Price

Change

 

 

Total Fair

Value

Measurement

Gain/(Loss)

 

Rate lock commitments

 

$

655,409

 

 

$

(2,645

)

 

$

(2,111

)

 

$

6,267

 

 

$

 

 

$

1,511

 

Forward sales contracts

 

$

777,148

 

 

 

 

 

 

 

 

 

 

 

 

2,977

 

 

 

2,977

 

Mortgages held for sale

 

$

240,341

 

 

 

(997

)

 

 

(549

)

 

 

2,603

 

 

 

 

 

 

1,057

 

Total fair value measurement

 

 

$

(3,642

)

 

$

(2,660

)

 

$

8,870

 

 

$

2,977

 

 

$

5,545