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Advances

12 Months Ended

Dec. 31, 2020

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).