RESERVE FOR LOSS ON REPURCHASED LOANS

The Company records a provision to the representation and warranty reserve representing its estimate of losses on mortgage repurchases or loss reimbursements attributable to underwriting or documentation defects on sold loans. The reserve for loss on repurchased loans is initially recorded against net revenue on mortgage banking activities at the time of sale, and any subsequent change in the reserve is recorded in the Consolidated Statements of Operations as an increase or decrease to the provision for loan repurchases (noninterest expense). The following table presents a summary of activity in the reserve for losses on repurchased loans for the periods indicated:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
	(In thousands)
Balance at beginning of period	$	8,028		$	10,438		$	7,974		$	9,700
Initial provision for loan repurchases	98			1,192			1,613			2,922
Subsequent change in the provision	(749		)	49			(1,477		)	(451		)
Utilization of reserve for loan repurchases	(1,204		)	(310		)	(1,937		)	(802		)
Balance at end of period	$	6,173		$	11,369		$	6,173		$	11,369

The Company believes that all known or probable and estimable demands were adequately reserved for at September 30, 2017.