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Advances (Tables)
 3 Months Ended
Mar. 31, 2020
Advances [Abstract]  
Schedule of Advances Paid on Behalf of Borrowers or on Foreclosed Properties
 
March 31, 2020
 
December 31, 2019
Principal and interest
$
426,308

 
$
414,846

Taxes and insurance
383,829

 
422,383

Foreclosures, bankruptcy, REO and other
222,043

 
229,219

 
1,032,180

 
1,066,448

Allowance for losses
(7,373
)
 
(9,925
)
Advances, net
$
1,024,807

 
$
1,056,523
Schedule of Activity in Advances
The following table summarizes the activity in net advances:
 
Three Months Ended March 31,
 
2020
 
2019
Beginning balance
$
1,056,523

 
$
1,186,676

New advances
243,545

 
105,995

Sales of advances
(228
)
 
(707
)
Collections of advances and other
(277,585
)
 
(198,008
)
Net decrease in allowance for losses (1)
2,552

 
124

Ending balance
$
1,024,807

 
$
1,094,080


(1)
As disclosed in Note 1, there was no significant adjustment as of January 1, 2020 as a result of the adoption of ASU 2016-13. Servicing advances are generally expected to be fully reimbursed under the terms of the servicing agreements. The estimate for the allowance for losses is based on relevant qualitative and quantitative information about past events, including historical collection and loss experience, current conditions, and reasonable and supportable forecasts that affect collectability. The allowance for losses includes an estimate for claimable (with investors) but nonrecoverable expenses, for example due to servicer error, such as lack of reasonable documentation as to the type and amount of advances.
Schedule of Changes in Allowance For Losses
Valuation Allowance - Loans Held for Sale at Lower of Cost or Fair Value
Three Months Ended March 31,
2020
 
2019
Beginning balance
$
6,643

 
$
11,569

Provision
570

 
642

Transfer from Liability for indemnification obligations (Other liabilities)
25

 
67

Sales of loans
(457
)
 
(1,415
)
Ending balance
$
6,781

 
$
10,863

Allowance for Losses
Three Months Ended March 31,
 
2020
 
2019
Beginning balance
$
9,925

 
$
23,259

Provision (reversal)
(761
)
 
1,762

Net charge-offs and other
(1,791
)
 
(1,886
)
Ending balance (1)
$
7,373

 
$
23,135

(1)
$18.0 million allowance related to sold advances was reclassified in the third quarter of 2019 and presented as Other liabilities (Liability for indemnification obligations).