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Advances | 12 Months Ended
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Dec. 31, 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 December 31:
| 2016 |  | 2015
Principal and interest | $ | 31,334 |  |  | $ | 81,681 |
Taxes and insurance | 170,131 |  |  | 278,487 |
Foreclosures, bankruptcy and other | 94,369 |  |  | 126,031 |
| 295,834 |  |  | 486,199 |
Allowance for losses | (37,952 | ) |  | (41,901 | )
| $ | 257,882 |  |  | $ | 444,298 |
Advances at December 31, 2016 and 2015 include $29.0 million and $86.4 million, respectively, of previously sold advances that did not qualify for sale accounting. The following table summarizes the activity in net advances for the years ended December 31:
| 2016 |  | 2015 |  | 2014
Beginning balance | $ | 444,298 |  |  | $ | 893,914 |  |  | $ | 890,832 |
Acquisitions (1) | — |  |  | — |  |  | 99,319 |
Transfers to match funded advances | — |  |  | — |  |  | (10,156 | )
Sales of advances (2) | (24,631 | ) |  | (253,335 | ) |  | — |
Collections of advances, charge-offs and other, net | (165,734 | ) |  | (224,414 | ) |  | (54,424 | )
Decrease (increase) in allowance for losses | 3,949 |  |  | 28,133 |  |  | (31,657 | )
Ending balance | $ | 257,882 |  |  | $ | 444,298 |  |  | $ | 893,914 |
(1) | Servicing advances acquired primarily in connection with the acquisition of MSRs. Acquisitions in 2014 include advances acquired in connection with the purchase of loans through the Ginnie Mae EBO program.
(2) | Servicing advances sold primarily in connection with sales of MSRs which met the requirements for sale accounting and which were derecognized from our financial statements at the time of the sale. However, advances sold during 2014 in connection with the sale of loans purchased through the Ginnie Mae EBO program did not qualify as sales for accounting purposes and were accounted for as a financing.
The change in the allowance for losses for the years ended December 31 is as follows:
| 2016 |  | 2015 |  | 2014
Beginning balance | $ | 41,901 |  |  | $ | 70,034 |  |  | $ | 38,377 |
Provision | (2,043 | ) |  | 61,445 |  |  | 83,164 |
Recoveries (charge-offs), net and other | (1,906 | ) |  | (89,578 | ) |  | (51,507 | )
Ending balance | $ | 37,952 |  |  | $ | 41,901 |  |  | $ | 70,034 |

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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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