NYCB 2017 Annual Report

132 Changes in Level 3 Fair Value Measurements The following tables present, for the twelve months ended December 31, 2017 and 2016, a roll-forward of the balance sheet amounts (including changes in fair value) for financial instruments classified in Level 3 of the valuation hierarchy: (in thousands) Fair Value January 1, 2017 Total Realized/Unrealized Gains/(Losses) Recorded in Issuances Settlements Transfers to/(from) Level 3 Fair Value at Dec. 31, 2017 Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2017 Income/ (Loss) Comprehensive (Loss) Income Mortgage servicing rights $228,099 $(20,076) $-- $18,054 $(223,348 ) $-- $2,729 $(222) Interest rate lock commitments 982 (982) -- -- -- -- -- -- (in thousands) Fair Value January 1, 2016 Total Realized/Unrealized Gains/(Losses) Recorded in Issuances Settlements Transfers to/(from) Level 3 Fair Value at Dec. 31, 2016 Change in Unrealized Gains/(Losses) Related to Instruments Held at December 31, 2016 Income/ (Loss) Comprehensive (Loss) Income Mortgage servicing rights $243,389 $(27,453) $-- $45,588 $(33,425 ) $-- $228,099 $(27,453) Interest rate lock commitments 2,526 (1,544) -- -- -- -- 982 982 The Company’s policy is to recognize transfers in and out of Levels 1, 2, and 3 as of the end of the reporting period. There were no transfers in or out of Levels 1, 2, or 3 during the twelve months ended December 31, 2017 or 2016.