Liability for Losses Under Representations and Warranties

12 Months Ended

Dec. 31, 2022

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,
	2022		2021		2020
	(in thousands)
Balance at beginning of year	$	43,521	$	32,688	$	21,446
Provision for losses:
Resulting from sales of loans		9,617		31,590		21,035
Resulting from change in estimate		(8,451)		(16,037)		(8,667)
Losses incurred		(12,266)		(4,720)		(1,126)
Balance at end of year	$	32,421	$	43,521	$	32,688
Unpaid principal balance of loans subject to representations and warranties at end of year	$	296,774,121	$	257,369,777	$	210,222,447