Liability for Losses Under Representations and Warranties

3 Months Ended

Mar. 31, 2024

Liability for Losses Under Representations and Warranties

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 March 31,
	2024		2023
	(in thousands)
Balance at beginning of quarter	$	30,788	$	32,421
Provision for losses:
Resulting from sales of loans		3,952		1,735
Resulting from change in estimate		(3,320)		(1,445)
Losses incurred		(1,444)		(1,608)
Balance at end of quarter	$	29,976	$	31,103
Unpaid principal balance of loans subject to representations and warranties at end of quarter	$	366,147,661	$	303,983,805