XML 28 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Advances
 9 Months Ended
Sep. 30, 2017
Advances [Abstract]  
Advances
Note 5 – 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, 2017
 
December 31, 2016
Principal and interest
$
16,951

 
$
31,334

Taxes and insurance
137,992

 
170,131

Foreclosures, bankruptcy and other
77,172

 
94,369

 
232,115

 
295,834

Allowance for losses
(34,162
)
 
(37,952
)
 
$
197,953

 
$
257,882


Advances at September 30, 2017 and December 31, 2016 include $20.6 million and $29.0 million, respectively, of previously sold advances in connection with sales of loans that did not qualify for sale accounting.
The following table summarizes the activity in net advances:
Nine months ended September 30,
2017
 
2016
Beginning balance
$
257,882

 
$
444,298

Sales of advances
(399
)
 
(24,572
)
Collections of advances, charge-offs and other, net
(63,320
)
 
(125,701
)
Decrease (increase) in allowance for losses
3,790

 
(5,011
)
Ending balance
$
197,953

 
$
289,014


The changes in the allowance for losses are as follows:
Periods ended September 30,
Three Months
 
Nine Months
2017
 
2016
 
2017
 
2016
Beginning balance
$
20,328

 
$
39,441

 
$
37,952

 
$
41,901

Provision (1)
13,756

 
(6,865
)
 
17,054

 
581

Recoveries (Charge-offs), net and other
78

 
14,336

 
(20,844
)
 
4,430

Ending balance
$
34,162

 
$
46,912

 
$
34,162

 
$
46,912

(1)
The provision for the three months ended September 30, 2017 increased in connection with re-performing government-insured loans for which certain advances are no longer recoverable.