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Advances | 12 Months Ended
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Dec. 31, 2020
Advances [Abstract] |
Advances | Note 8 — Advances
| December 31,
| 2020 |  | 2019
Principal and interest | $ | 277,132 |  |  | $ | 414,846 |
Taxes and insurance | 364,593 |  |  | 422,383 |
Foreclosures, bankruptcy, REO and other | 192,787 |  |  | 229,219 |
| 834,512 |  |  | 1,066,448 |
Allowance for losses | (6,273) |  |  | (9,925) |
Advances, net | $ | 828,239 |  |  | $ | 1,056,523 |
The following table summarizes the activity in net advances:
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Beginning balance | $ | 1,056,523 |  |  | $ | 1,186,676 |  |  | $ | 1,389,150 |
Asset acquisition | 14 |  |  | 1,457 |  |  | — |
Acquired in connection with the acquisition of PHH | — |  |  | — |  |  | 96,163 |
Transfer to Other assets | — |  |  | — |  |  | (36,896) |
New advances | 890,389 |  |  | 671,673 |  |  | 684,538 |
Sales of advances | (834) |  |  | (11,791) |  |  | (32,081) |
Collections of advances and other | (1,121,505) |  |  | (804,826) |  |  | (910,039) |
Net decrease (increase) in allowance for losses (1) | 3,652 |  |  | 13,334 |  |  | (4,159) |
Ending balance | $ | 828,239 |  |  | $ | 1,056,523 |  |  | $ | 1,186,676 |
(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.
Allowance for Losses | Years Ended December 31,
2020 |  | 2019 |  | 2018
Beginning balance | $ | 9,925 |  |  | $ | 23,259 |  |  | $ | 16,465 |
Provision | 7,790 |  |  | 3,220 |  |  | 5,732 |
Net charge-offs and other (1) | (11,442) |  |  | (16,554) |  |  | 1,062 |
Ending balance | $ | 6,273 |  |  | $ | 9,925 |  |  | $ | 23,259 |
(1)Net change for the year ended December 31, 2019 includes $18.0 million allowance related to sold advances presented in Other liabilities (Liability for indemnification obligations).

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- Definition Advances [Abstract] + References No definition available. + Details
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- Definition Disclosure of non-interest-bearing advances made on behalf of borrowers or on foreclosed properties. Includes 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. Also includes 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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