Liability for Losses Under Representations and Warranties

12 Months Ended

Dec. 31, 2024

Liability for Losses Under Representations and Warranties

Liability for Losses Under Representations and Warranties

Note 17—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,
	2024		2023		2022
	(in thousands)
Balance at beginning of year	$	30,788	$	32,421	$	43,521
Provision for losses:
Resulting from sales of loans		16,486		12,997		9,617
Resulting from change in estimate		(13,579)		(9,115)		(8,451)
Losses incurred		(4,566)		(5,515)		(12,266)
Balance at end of year	$	29,129	$	30,788	$	32,421
Unpaid principal balance of loans subject to representations and warranties at end of year	$	413,382,503	$	354,423,684	$	296,774,121