Guild Holdings Company Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Accounts and Interest Receivable

Accounts and Interest Receivable

9 Months Ended

Sep. 30, 2020

Accounts And Interest Receivable [Abstract]

Accounts and Interest Receivable

3. Accounts and Interest Receivable

Accounts and interest receivable consisted of the following at September 30, 2020 and December 31, 2019:

	September 30, 2020		December 31, 2019
Trust advances	$	13,967	$	17,622
Foreclosure advances, net		6,030		7,348
Receivables related to loan sales		5,055		5,771
Other		4,855		3,870
Total accounts and interest receivable	$	29,907	$	34,611

Management has established a foreclosure reserve for estimated uncollectable balances of the foreclosure and trust advances. Management believes that substantially all other accounts and interest receivable amounts are collectible and, accordingly, no allowance for doubtful accounts is necessary.

The activity of the foreclosure loss reserve was as follows for the three and nine months ended September 30, 2020 and 2019:

	For the three months ended September 30,
	2020			2019
Balance - beginning of period	$	8,342		$	6,640
Utilization of foreclosure reserve		(975	)		(654	)
Provision for foreclosure losses		547			1,497
Balance - end of period	$	7,914		$	7,483

	For the nine months ended September 30,
	2020			2019
Balance - beginning of year	$	7,869		$	7,884
Utilization of foreclosure reserve		(2,362	)		(2,672	)
Provision for foreclosure losses		2,407			2,271
Balance - end of period	$	7,914		$	7,483