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RESERVE FOR LOSS ON REPURCHASED LOANS
 12 Months Ended
Dec. 31, 2019
Mortgage Banking Activities [Abstract]  
RESERVE FOR LOSS ON REPURCHASED LOANS RESERVE FOR LOSS ON REPURCHASED LOANS
The following table presents a summary of activity in the reserve for losses on repurchased loans for the periods indicated:
 
 
Year Ended December 31,
($ in thousands)
 
2019
 
2018
 
2017
Balance at beginning of year
 
$
2,506

 
$
6,306

 
$
7,974

Initial provision for loan repurchases
 
4,563

 
126

 
1,622

Subsequent change in the reserve
 
(660
)
 
(2,488
)
 
(1,812
)
Utilization of reserve for loan repurchases
 
(208
)
 
(1,438
)
 
(2,238
)
Other adjustments
 
—

 
—

 
760

Balance at end of year
 
$
6,201

 
$
2,506

 
$
6,306



During the year ended December 31, 2019, reserve for loss on repurchased loans increased by $3.7 million, including a $4.4 million initial provision for loan repurchases related to the Freddie Mac multifamily loan securitization completed in the third quarter of 2019. Refer to Note 21 for additional information. During the year ended December 31, 2018, approximately $1.5 million of the decrease was due to portfolio run-off and repurchase settlement activities.

We believe that our obligations for mortgage loan repurchases or loss reimbursements were adequately reserved for
at December 31, 2019.