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v3.20.2

Guarantees (Tables) | 9 Months Ended
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Sep. 30, 2020
Guarantee on loans sold or serviced with credit recourse |
Guarantor Obligations |
Credit recourse agreements reserve |
| Quarters ended September 30, |  | Nine months ended September 30,
(In thousands) | 2020 |  | 2019 |  | 2020 |  | 2019
Balance as of beginning of period | $ | 31,305 |  | $ | 48,100 |  | $ | 34,862 |  | $ | 56,230
Impact of adopting CECL |  | - |  |  | - |  |  | (3,831) |  |  | -
Provision (reversal) for recourse liability |  | (4,058) | [1] |  | 2,755 |  |  | 1,356 | [1] |  | 3,711
Net charge-offs |  | (362) |  |  | (5,394) |  |  | (5,502) |  |  | (14,480)
Balance as of end of period | $ | 26,885 |  | $ | 45,461 |  | $ | 26,885 |  | $ | 45,461
[1] Includes a release of $5.1 million recorded in connection with the bulk loan repurchase of $120 million loans from FNMA and FHLMC completed during the quarter ended September 30, 2020.
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 September 30, |  | Nine months ended September 30,
(In thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Balance as of beginning of period | $ | 3,122 | $ | 3,825 | $ | 3,212 | $ | 10,837
Provision (reversal) for representation and warranties |  | (125) |  | (81) |  | (215) |  | (4,488)
Net charge-offs |  | - |  | - |  | - |  | (75)
Settlements paid |  | - |  | - |  | - |  | (2,530)
Balance as of end of period | $ | 2,997 | $ | 3,744 | $ | 2,997 | $ | 3,744

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