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Liability for Losses Under Representations and Warranties
 6 Months Ended
Jun. 30, 2024
Liability For Representations And Warranties [Abstract]  
Liability for Losses Under Representations and Warranties

Note 16—Liability for Losses Under Representations and Warranties

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

 

 

Quarter ended June 30,

 

 

Six months ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Balance, beginning of period

 

$

19,519

 

 

$

39,407

 

 

$

26,143

 

 

$

39,471

 

Provision for losses:

 

 

 

 

 

 

 

 

 

 

 

 

Pursuant to loan sales

 

 

204

 

 

 

738

 

 

 

458

 

 

 

1,678

 

Reduction in liability due to change in estimate

 

 

(6,540

)

 

 

(2,939

)

 

 

(13,418

)

 

 

(3,555

)

Losses incurred

 

 

—

 

 

 

(137

)

 

 

—

 

 

 

(525

)

Balance, end of period

 

$

13,183

 

 

$

37,069

 

 

$

13,183

 

 

$

37,069

 

UPB of loans subject to representations and warranties at
    end of period

 

 

 

 

 

 

 

$

222,907,138

 

 

$

230,128,231