Receivables

9 Months Ended

Sep. 30, 2020


Note 10 – Receivables


	September 30, 2020		December 31, 2019
Servicing-related receivables:
Government-insured loan claims - Forward	$	107,917	$	122,557
Government-insured loan claims - Reverse	43,681		14,123
Sales and transfers of MSRs - Due from NRZ	—		24,167
Subservicing fees and reimbursable expenses - Due from NRZ	2,364		9,197
Reimbursable expenses	5,604		13,052
Due from custodial accounts	8,212		27,175
Other	1,869		4,970
	169,647		215,241
Income taxes receivable (1)	68,683		37,888

Other receivables	4,795		5,963
	243,125		259,092
Allowance for losses	(41,518)		(57,872)
	$	201,607	$	201,220

(1)See Note 17 – Income Taxes

At September 30, 2020 and December 31, 2019, the allowance for losses primarily related to receivables of our Servicing business. The allowance for losses related to FHA- or VA-insured loans repurchased from Ginnie Mae guaranteed securitizations (government-insured loan claims) was $40.8 million and $56.9 million at September 30, 2020 and December 31, 2019, respectively. The government-insured loan claims are guaranteed by the U.S. government.


Allowance for Losses - Government-Insured Loan Claims	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Beginning balance (1)	$	53,310	$	50,511	$	56,868	$	52,497
Provision	5,055		11,013		12,249		22,819
Charge-offs and other, net	(17,607)		(8,349)		(28,359)		(22,141)
Ending balance	$	40,758	$	53,175	$	40,758	$	53,175

(1) The adoption of ASU 2016-13 did not result in any significant change to the allowance for losses related to receivables as of January 1, 2020.