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Advances | 9 Months Ended
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Sep. 30, 2014
Advances [Abstract] |
Advances | Note 6 – Advances Advances, net, representing payments made on behalf of borrowers or on foreclosed properties, consisted of the following at the dates indicated:
| September 30, 2014 |  | December 31, 2013
Servicing: |  |  |  |  |
Principal and interest | $ | 198,540 |  |  | $ | 141,307 |
Taxes and insurance | 443,255 |  |  | 477,039 |
Foreclosures, bankruptcy and other (1) | 340,882 |  |  | 268,053 |
| 982,677 |  |  | 886,399 |
Corporate Items and Other | 4,609 |  |  | 4,433 |
| $ | 987,286 |  |  | $ | 890,832 |
(1) | The balances at September 30, 2014 and December 31, 2013 are net of an allowance for losses of $48.4 million and $38.4 million, respectively.
The following table summarizes the activity in advances for the nine months ended September 30:
| 2014 |  | 2013
Beginning balance | $ | 890,832 |  |  | $ | 184,463 |
Acquisitions (1) | 99,318 |  |  | 708,415 |
Transfers to match funded advances | (10,156 | ) |  | (131,197 | )
Sales of advances to HLSS (2) | — |  |  | (61,673 | )
New advances, net of collections and other | 7,292 |  |  | 244,923 |
Ending balance | $ | 987,286 |  |  | $ | 944,931 |
(1) | Servicing advances acquired through business acquisitions and asset acquisitions, primarily in connection with the acquisition of MSRs. See Note 3 – Business Acquisitions, Note 5 – Loans Held for Sale and Note 8 – Mortgage Servicing for additional information.
(2) | We periodically sell Rights to MSRs and the related servicing advances to HLSS. The related advance sales generally meet the requirements for sale accounting and are derecognized from our financial statements at the time of the sale. In connection with the Ginnie Mae EBO Transactions completed during 2014, we transferred advances related to certain FHA-insured mortgage loans to HLSS Mortgage and HLSS SEZ LP in transactions which did not qualify as sales for accounting purposes. See Note 4 – Fair Value and Note 5 – Loans Held for Sale 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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