Liability for Losses Under Representations and Warranties

12 Months Ended

Dec. 31, 2018

Liability for Losses Under Representations and Warranties

Liability for Losses Under Representations and Warranties

Note 14—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,
	2018		2017		2016
	(in thousands)
Balance at beginning of year	$	20,053	$	19,067	$	20,611
Provision for losses on mortgage loans sold:
Resulting from sales of mortgage loans		5,824		5,890		7,090
Reduction in liability due to change in estimate		(4,672)		(4,301)		(7,672)
Incurred losses, net		(50)		(603)		(962)
Balance at end of year	$	21,155	$	20,053	$	19,067
Unpaid principal balance of mortgage loans subject to representations and warranties at end of year	$	137,849,704	$	120,855,101