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Match Funded Advances

3 Months Ended

Mar. 31, 2015

Transfers and Servicing [Abstract]

Match Funded Advances

Note 7 – Match Funded Advances

Match funded advances on residential loans we service for others are comprised of the following at the dates indicated:

	March 31, 2015				December 31, 2014
Principal and interest	$	1,249,364			$	1,349,048
Taxes and insurance	807,267				847,064
Foreclosures, bankruptcy, real estate and other	196,336				213,330
	$	2,252,967			$	2,409,442

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

	2015				2014
Beginning balance	$	2,409,442			$	2,552,383
Acquisitions	—				85,521
Transfers from advances	—				10,156
New advances (collections of pledged advances), net and other	(156,475		)		7,794
Ending balance	$	2,252,967			$	2,655,854

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- Definition

The disclosure for the carrying amount of advances transferred to special purpose entities in transactions accounted for as secured borrowings in the transferor's statement of financial position. Advances include receivables for funds advanced by the servicer to meet contractual principal and interest remittance requirements for the investors, pay property taxes and insurance premiums and process foreclosures. Advances also include receivables for funds advanced to maintain, repair and market foreclosed real estate properties on behalf of investors.

+ References

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