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Advances

12 Months Ended

Dec. 31, 2013

Advances [Abstract]

Advances

Note 7 — Advances

Advances, net, representing payments made on behalf of borrowers or on foreclosed properties, consisted of the following at December 31:

	2013				2012
Servicing:
Principal and interest	$	141,307			$	83,617
Taxes and insurance	477,039				51,447
Foreclosures, bankruptcy and other	268,053				41,296
	886,399				176,360
Corporate Items and Other	4,433				8,103
	$	890,832			$	184,463

The following table summarizes the activity in advances for the years ended December 31:

	2013				2012
Beginning balance	$	184,463			$	103,591
Acquisitions (1)	733,438				118,360
Transfers to match funded advances	(142,286		)		(74,317		)
Sales of advances to HLSS	(200,749		)		—
New advances, net of collections	315,966				36,829
Other	—				—
Ending balance	$	890,832			$	184,463

(1) Servicing advances acquired in connection with the acquisition of MSRs through business acquisitions and asset acquisitions. See Note 3 — Business Acquisitions and Note 9 — Mortgage Servicing 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.

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