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Advances | 9 Months Ended
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Sep. 30, 2016
Advances [Abstract] |
Advances | Note 6 – Advances Advances, net, which represent payments made on behalf of borrowers or on foreclosed properties, consisted of the following at the dates indicated:
| September 30, 2016 |  | December 31, 2015
Principal and interest | $ | 47,624 |  |  | $ | 81,681 |
Taxes and insurance | 170,215 |  |  | 278,487 |
Foreclosures, bankruptcy and other | 118,087 |  |  | 126,031 |
| 335,926 |  |  | 486,199 |
Allowance for losses | (46,912 | ) |  | (41,901 | )
| $ | 289,014 |  |  | $ | 444,298 |
Advances at September 30, 2016 include $34.6 million of previously sold advances that did not qualify for sale accounting. The following table summarizes the activity in net advances for the nine months ended September 30:
| 2016 |  | 2015
Beginning balance | $ | 444,298 |  |  | $ | 893,914 |
Sales of advances | (24,572 | ) |  | (224,756 | )
Collections of advances, charge-offs and other, net | (125,701 | ) |  | (161,378 | )
Decrease (increase) in allowance for losses | (5,011 | ) |  | 9,598 |
Ending balance | $ | 289,014 |  |  | $ | 517,378 |
The change in the allowance for losses for the periods ended September 30 is as follows:
| Three Months |  | Nine Months
| 2016 |  | 2015 |  | 2016 |  | 2015
Beginning balance | $ | 39,441 |  |  | $ | 59,545 |  |  | $ | 41,901 |  |  | $ | 70,034 |
Provision | (6,865 | ) |  | 21,856 |  |  | 581 |  |  | 42,358 |
Recoveries (charge-offs), net and other | 14,336 |  |  | (20,965 | ) |  | 4,430 |  |  | (51,956 | )
Ending balance | $ | 46,912 |  |  | $ | 60,436 |  |  | $ | 46,912 |  |  | $ | 60,436 |

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- Definition Disclosure of non-interest-bearing advances made on behalf of borrowers or on foreclosed properties. Includes 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. Also includes 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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