Liability for Losses Under Representations and Warranties

3 Months Ended

Mar. 31, 2019

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 March 31,
	2019		2018
	(in thousands)
Balance at beginning of quarter	$	21,155	$	20,053
Provision for losses on mortgage loans sold:
Resulting from sales of mortgage loans		1,067		1,492
Reduction in liability due to change in estimate		(4,210)		(1,113)
Incurred losses, net		(30)		(3)
Balance at end of quarter	$	17,982	$	20,429
Unpaid principal balance of mortgage loans subject to representations and warranties at end of quarter	$	133,698,782	$	127,056,220