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Advances

3 Months Ended

Mar. 31, 2014

Advances [Abstract]

Advances

Note 7 — Advances

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

	March 31, 2014				December 31, 2013
Servicing:
Principal and interest	$	189,338			$	141,307
Taxes and insurance	465,359				477,039
Foreclosures, bankruptcy and other	278,713				268,053
	933,410				886,399
Corporate Items and Other	4,516				4,433
	$	937,926			$	890,832

The following table summarizes the activity in advances for the three months ended March 31:

	2014				2013
Beginning balance	$	890,832			$	184,463
Acquisitions (1)	98,875				205,365
Transfers to match funded advances	(10,156		)		—
Sales of advances to HLSS	—				(38,313		)
(Collections) new advances, net	(41,625		)		210,046
Ending balance	$	937,926			$	561,561

(1) Servicing advances acquired through business acquisitions and asset acquisitions, primarily in connection with the acquisition of MSRs. See Note 3 — Business Acquisitions, Note 6 — Loans Held for Sale 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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