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NOTE 6 MATCH FUNDED ADVANCES

12 Months Ended

Dec. 31, 2011

Transfers Accounted For As Secured Borrowings Advances [Text Block]

NOTE 6 MATCH FUNDED ADVANCES

Match funded advances on residential loans we service for others, as more fully described in Note 1— Principles of Consolidation—Financings of Advances on Loans Serviced for Others, are comprised of the following at December 31:

		2011				2010
Principal and interest		$	1,679,536			$	947,990
Taxes and insurance			1,452,707				684,928
Foreclosures and bankruptcy costs			259,231				140,181
Real estate servicing costs			121,705				116,064
Other			116,732				34,889
		$	3,629,911			$	1,924,052

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- Definition

The disclosure for the carrying amount of advances transferred to special purpose entities in transactions accounted for as secured borrowings in the transferor's statement of financial position. Advances include receivables for funds advanced by the servicer to meet contractual principal and interest remittance requirements for the investors, pay property taxes and insurance premiums and process foreclosures. Advances also include receivables for funds advanced to maintain, repair and market foreclosed real estate properties on behalf of investors.

+ References

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+ Details

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