Liability for Losses Under Representations and Warranties

3 Months Ended

Mar. 31, 2025

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,
	2025		2024
	(in thousands)
Balance at beginning of quarter	$	29,129	$	30,788
Provision for losses:
Resulting from sales of loans		3,547		3,952
Resulting from change in estimate		(1,415)		(3,320)
Losses incurred		(487)		(1,444)
Balance at end of quarter	$	30,774	$	29,976
Unpaid principal balance of loans subject to representations and warranties at end of quarter	$	430,898,425	$	366,147,661