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Liability for Losses Under Representations and Warranties (Tables)
 12 Months Ended
Dec. 31, 2016
Text Block [Abstract]  
Summary of Company's Liability for Losses under Representations and Warranties

Following is a summary of the Company’s liability for losses under representations and warranties:

 

 

 

Year ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

(in thousands)

 

Balance, beginning of period

 

$

20,171

 

 

$

14,242

 

 

$

10,110

 

Provision for losses

 

 

 

 

 

 

 

 

 

 

 

 

Pursuant to mortgage loan sales

 

 

3,254

 

 

 

5,771

 

 

 

4,255

 

Reduction in liability due to change in estimate

 

 

(7,564

)

 

 

—

 

 

 

—

 

Losses incurred

 

 

(511

)

 

 

(176

)

 

 

(123

)

Recoveries

 

 

—

 

 

 

334

 

 

 

—

 

Balance, end of period

 

$

15,350

 

 

$

20,171

 

 

$

14,242

 

UPB of mortgage loans subject to representations and

   warranties at period end

 

$

56,114,162

 

 

$

41,842,601

 

 

$

34,673,414