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Advances

3 Months Ended

Mar. 31, 2015

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:

	March 31, 2015				December 31, 2014
Servicing:
Principal and interest	$	137,929			$	128,217
Taxes and insurance	467,716				467,891
Foreclosures, bankruptcy and other (1)	332,829				293,340
	938,474				889,448
Corporate Items and Other	4,064				4,466
	$	942,538			$	893,914

(1) The balances at March 31, 2015 and December 31, 2014 are net of an allowance for losses of $71.9 million and $70.0 million, respectively.

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

	2015				2014
Beginning balance	$	893,914			$	890,832
Acquisitions	—				98,875
Transfers to match funded advances	—				(10,156		)
Sales of advances	(1,765		)		—
New advances (collections of advances), net and other	50,389				(41,625		)
Ending balance	$	942,538			$	937,926

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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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