v3.25.2
Liability for Losses Under Representations and Warranties (Tables)
6 Months Ended
Jun. 30, 2025
Liability For Representations And Warranties [Abstract]  
Summary of Company's Liability for Losses under Representations and Warranties

Following is a summary of the Company’s liability for losses under representations and warranties:

 

 

Quarter ended June 30,

 

 

Six months ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(in thousands)

 

Balance, beginning of period

 

$

5,955

 

 

$

19,519

 

 

$

6,886

 

 

$

26,143

 

Provision for losses:

 

 

 

 

 

 

 

 

 

 

 

 

Pursuant to loan sales

 

 

227

 

 

 

204

 

 

 

531

 

 

 

458

 

Reduction in liability due to change in estimate

 

 

(912

)

 

 

(6,540

)

 

 

(2,080

)

 

 

(13,418

)

Losses incurred

 

 

(206

)

 

 

 

 

 

(273

)

 

 

 

Balance, end of period

 

$

5,064

 

 

$

13,183

 

 

$

5,064

 

 

$

13,183

 

UPB of loans subject to representations and warranties at
   end of period

 

 

 

 

 

 

 

$

218,738,822

 

 

$

222,907,138