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Guarantees (Tables)
 9 Months Ended
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