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Match Funded Advances | 3 Months Ended
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Mar. 31, 2017
Transfers and Servicing [Abstract] |
Match Funded Assets | Note 7 – Match Funded Assets Match funded assets are comprised of the following at the dates indicated:
| March 31, 2017 |  | December 31, 2016
Advances: |  |  |
Principal and interest | $ | 651,837 |  |  | $ | 711,272 |
Taxes and insurance | 508,573 |  |  | 530,946 |
Foreclosures, bankruptcy, real estate and other | 205,015 |  |  | 209,746 |
| 1,365,425 |  |  | 1,451,964 |
Automotive dealer financing notes (1) | 26,996 |  |  | — |
| $ | 1,392,421 |  |  | $ | 1,451,964 |
(1) | On February 24, 2017 and on March 17, 2017, we entered into loan agreements under a new automotive dealer loan financing facility to which these notes are pledged.
The following table summarizes the activity in match funded assets:
| For the Three Months Ended March 31,
| 2017 |  | 2016
| Advances |  | Automotive Dealer Financing Notes |  | Advances
Beginning balance | $ | 1,451,964 |  |  | $ | — |  |  | $ | 1,706,768 |
Transfer from Other assets | — |  |  | 25,180 |  |  | — |
Sales | (245 | ) |  | — |  |  | — |
New advances/notes (collections of pledged assets), net | (86,294 | ) |  | 1,816 |  |  | 14,129 |
Ending balance | $ | 1,365,425 |  |  | $ | 26,996 |  |  | $ | 1,720,897 |

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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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