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Note 6 ADVANCES

12 Months Ended

Dec. 31, 2012

Advance Payments by Borrowers for Taxes and Insurance Summary [Text Block]

NOTE 6 ADVANCES

Advances, representing payments made on behalf of borrowers or on foreclosed properties, as more fully described in Note 1—Mortgage Servicing Fees and Advances, consisted of the following at December 31:

		2012				2011
Servicing:
Principal and interest		$	83,617			$	30,462
Taxes and insurance			51,447				33,387
Foreclosures, bankruptcy and other			41,296				35,832
			176,360				99,681
Corporate Items and Other			8,103				3,910
		$	184,463			$	103,591

The balance outstanding at December 31, 2012 includes $56,903 of advances acquired in the Homeward Acquisition. See Note 2 for additional information.

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- Definition

Disclosure of accumulated prepayments received by financial institutions from borrowers for taxes (for example, property taxes) and insurance (for example, property and catastrophe) which will periodically be remitted to the appropriate governmental agency(ies) or vendor(s) on behalf of the borrower.

+ References

No definition available.

+ Details

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