Reserve for Repurchased Loans and Loss Sharing Obligations

3 Months Ended

Mar. 31, 2016

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Reserve for Repurchased Loans and Loss Sharing Obligations

Note 6. Reserve for Repurchased Loans and Loss Sharing Obligations

The reserve for repurchased loans and loss sharing obligations was $986,000 at March 31, 2016, unchanged from December 31, 2015, compared to $1,032,000 at March 31, 2015, unchanged from December 31, 2014. The reserve for repurchased loans and loss sharing obligations was established to provide for expected losses related to repurchase requests which may be received on residential mortgage loans previously sold to investors and other loss sharing obligations. The reserve is included in other liabilities in the accompanying statements of financial condition.

At March 31, 2016, and December 31, 2015, there were no outstanding loan repurchase requests.