Liability for Losses Under Representations and Warranties

9 Months Ended

Sep. 30, 2018

Liability for Losses Under Representations and Warranties

Liability for Losses Under Representations and Warranties

Note 12—Liability for Losses Under Representations and Warranties

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

	Quarter ended September 30,				Nine months ended September 30,
	2018		2017		2018		2017
	(in thousands)
Balance at beginning of period	$	20,587	$	19,568	$	20,053	$	19,067
Provision for losses on mortgage loans sold:
Resulting from sales of mortgage loans		1,842		1,596		4,550		4,294
Reduction in liability due to change in estimate		(1,155)		(1,194)		(3,627)		(3,086)
(Incurred losses) recoveries , net		(252)		(297)		46		(602)
Balance at end of period	$	21,022	$	19,673	$	21,022	$	19,673
Unpaid principal balance of mortgage loans subject to representations and warranties at end of period	$	139,315,779	$	114,531,205