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Repurchase Reserve Liability
6 Months Ended
Jun. 30, 2015
Repurchase Reserve Liability [Abstract]  
Repurchase Reserve Liability
(13) Repurchase Reserve Liability

 

The Company’s repurchase reserve liability for estimated losses incurred on sold loans was $160,000 at June 30, 2015 and December 31, 2014, respectively. This liability represents management’s estimate of the potential repurchase or make-whole liability for residential mortgage loans originated for sale that may arise from representation and warranty claims that could relate to a variety of issues, including but not limited to, misrepresentation of facts, appraisal issues, or program requirements that may not meet investor guidelines.  At June 30, 2015, the Company was servicing 3,029 loans sold to the secondary market with a balance of approximately $312.6 million compared to 3,057 loans sold with a balance of approximately $313.9 million at December 31, 2014.