| ADVANCES, NET Advances, net consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
June 30,
2024 |
|
December 31,
2023 |
| Trust advances |
|
$ |
35,126 |
|
|
$ |
44,487 |
|
Foreclosure advances |
|
23,321 |
|
|
25,955 |
|
Foreclosure loss reserve |
|
(4,807) |
|
|
(5,694) |
|
| Total advances, net |
|
$ |
53,640 |
|
|
$ |
64,748 |
|
Management has established a foreclosure reserve for estimated uncollectible balances of the foreclosure and trust advances. The activity of the foreclosure loss reserve was as follows:
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|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
(in thousands) |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
| Balance — beginning of period |
|
$ |
5,826 |
|
|
$ |
8,665 |
|
|
$ |
5,694 |
|
|
$ |
8,698 |
|
(Reversal of) provision for foreclosure losses |
|
(496) |
|
|
(1,044) |
|
|
(104) |
|
|
470 |
|
| Utilization of foreclosure reserve |
|
(523) |
|
|
(962) |
|
|
(783) |
|
|
(2,509) |
|
| Balance — end of period |
|
$ |
4,807 |
|
|
$ |
6,659 |
|
|
$ |
4,807 |
|
|
$ |
6,659 |
|
|