Guarantees (Tables)

3 Months Ended

Mar. 31, 2021

Guarantee on loans sold or serviced with credit recourse

Guarantor Obligations

Credit recourse agreements reserve

The following table shows the changes in the Corporation’s liability of estimated losses related to loans serviced with credit recourse provisions during the quarters ended March 31, 2021 and 2020.

		Quarters ended March 31,
(In thousands)		2021		2020
Balance as of beginning of period	$	22,484	$	34,862
Impact of adopting CECL		-		(3,831)
Provision for recourse liability		817		4,364
Net charge-offs		(3,057)		(3,676)
Balance as of end of period	$	20,244	$	31,719

Banco Popular de Puerto Rico | Guarantee on loans sold or serviced with representation and warranties

Guarantor Obligations

Estimated losses associated with indemnifications and representations and warranties related to loans sold

		Quarters ended March 31,
(In thousands)		2021		2020
Balance as of beginning of period	$	2,297	$	3,212
Provision (reversal) for representation and warranties		(119)		(69)
Balance as of end of period	$	2,178	$	3,143