Advances

6 Months Ended

Jun. 30, 2024


Note 6 – Advances


	June 30, 2024		December 31, 2023
Principal and interest	$	180.0	$	212.5
Taxes and insurance	253.6		343.3
Foreclosures, bankruptcy, REO and other (1)	125.9		130.3
Total advances, before allowance for losses	559.5		686.1
Allowance for losses	(8.9)		(7.3)
Advances, net	$	550.6	$	678.8

(1) Balance at June 30, 2024 includes servicing advances of $34.8 million (New York), $9.7 million (Florida), $8.8 million (California), $6.2 million (Pennsylvania) and $5.9 million (New Jersey) based on the underlying property location of the related mortgage loans.

The following table summarizes the activity in net advances:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Beginning balance - before Allowance for Losses	$	610.5	$	663.1	$	686.1	$	725.1



New advances	204.2		146.5		403.6		335.3
Transfer from (to) Receivables	2.1		2.2		5.0		11.1
Sales of advances	(8.3)		(0.6)		(9.3)		(4.9)
Collections of advances and other	(248.9)		(201.1)		(525.8)		(456.6)


Ending balance - before Allowance for Losses	559.5		610.0		559.5		610.0

Beginning balance - Allowance for Losses	(7.7)		$	(6.2)	(7.3)		(6.2)
Provision expense	(4.2)		(2.8)		(7.1)		(4.6)
Net charge-offs and other	3.0		1.6		5.5		3.4
Ending balance - Allowance for Losses	(8.9)		(7.4)		(8.9)		(7.4)

Ending balance, net	$	550.6	$	602.7	$	550.6	$	602.7