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Match Funded Advances | 9 Months Ended
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Sep. 30, 2016
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:
| September 30, 2016 |  | December 31, 2015
Principal and interest | $ | 783,797 |  |  | $ | 948,376 |
Taxes and insurance | 540,277 |  |  | 608,404 |
Foreclosures, bankruptcy, real estate and other | 210,248 |  |  | 149,988 |
| $ | 1,534,322 |  |  | $ | 1,706,768 |
The following table summarizes the activity in match funded advances for the nine months ended September 30:
| 2016 |  | 2015
Beginning balance | $ | 1,706,768 |  |  | $ | 2,409,442 |
Sales of advances | (7,757 | ) |  | (96,408 | )
Collections of pledged advances, net | (164,689 | ) |  | (357,416 | )
Ending balance | $ | 1,534,322 |  |  | $ | 1,955,618 |

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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 No definition available. + Details
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- References No definition available. + Details
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