Schedule of rollforward of claims activity for loans put-back to the mortgage origination segment |
The following tables provide for a rollforward of claims activity for loans put-back to the mortgage origination segment based upon an alleged breach of a representation or warranty with respect to a loan sold and related indemnification liability reserve activity (in thousands). | | | | | | | | | | Representation and Warranty Specific Claims | | | | Activity - Origination Loan Balance | | | | Three Months Ended March 31, | | | | 2023 | | 2022 | | Balance, beginning of period | | $ | 31,244 | | $ | 31,407 | | Claims made | | | 14,415 | | | 9,842 | | Claims resolved with no payment | | | (5,548) | | | (4,521) | | Repurchases | | | (9,908) | | | (6,457) | | Indemnification payments | | | (3,006) | | | — | | Balance, end of period | | $ | 27,197 | | $ | 30,271 | | | | | | | | | | | | Indemnification Liability Reserve Activity | | | | Three Months Ended March 31, | | | | 2023 | | 2022 | | Balance, beginning of period | | $ | 20,528 | | $ | 27,424 | | Additions for new sales | | | 347 | | | 753 | | Repurchases | | | (2,360) | | | (565) | | Early payment defaults | | | (98) | | | (71) | | Indemnification payments | | | (147) | | | — | | Change in reserves for loans sold in prior years | | | — | | | (291) | | Balance, end of period | | $ | 18,270 | | $ | 27,250 | | | | | | | | | | | | March 31, | | December 31, | | | | 2023 | | 2022 | | Reserve for Indemnification Liability: | | | | | | | | Specific claims | | $ | 530 | | $ | 627 | | Incurred but not reported claims | | | 17,740 | | | 19,901 | | Total | | $ | 18,270 | | $ | 20,528 | |
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