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Advances (Tables)
 6 Months Ended
Jun. 30, 2020
Advances [Abstract]  
Schedule of Advances Paid on Behalf of Borrowers or on Foreclosed Properties
 
June 30, 2020
 
December 31, 2019
Principal and interest
$
336,783

 
$
414,846

Taxes and insurance
356,092

 
422,383

Foreclosures, bankruptcy, REO and other
215,954

 
229,219

 
908,829

 
1,066,448

Allowance for losses
(7,820
)
 
(9,925
)
Advances, net
$
901,009

 
$
1,056,523
Schedule of Activity in Advances
The following table summarizes the activity in net advances:
 
Six Months Ended June 30,
 
2020
 
2019
Beginning balance
$
1,056,523

 
$
1,186,676

Asset acquisitions
—

 
688

New advances
469,028

 
254,000

Sales of advances
(454
)
 
(707
)
Collections of advances and other
(626,193
)
 
(331,764
)
Net decrease (increase) in allowance for losses (1)
2,105

 
(4,394
)
Ending balance
$
901,009

 
$
1,104,499


(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 June 30,
 
Six Months Ended June 30,
2020
 
2019
 
2020
 
2019
Beginning balance
$
6,781

 
$
10,863

 
$
6,643

 
$
11,569

Provision
559

 
394

 
1,129

 
1,036

Transfer from Liability for indemnification obligations (Other liabilities)
50

 
7

 
75

 
74

Sales of loans
(990
)
 
(1,207
)
 
(1,447
)
 
(2,622
)
Ending balance
$
6,400

 
$
10,057

 
$
6,400

 
$
10,057


Allowance for Losses
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Beginning balance
$
7,373

 
$
23,135

 
$
9,925

 
$
23,259

Provision
4,532

 
2,041

 
3,771

 
3,803

Net charge-offs and other
(4,085
)
 
2,477

 
(5,876
)
 
591

Ending balance (1)
$
7,820

 
$
27,653

 
$
7,820

 
$
27,653

(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).