Quarterly report [Sections 13 or 15(d)]

ADVANCES, NET

v3.25.1
ADVANCES, NET
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
ADVANCES, NET
NOTE 3—ADVANCES, NET
Advances, net consisted of the following:
(in thousands)
 March 31,
2025		 December 31,
2024
Trust advances $ 46,576  $ 65,048 
Foreclosure advances
 25,500  25,761 
Foreclosure loss reserve
 (6,931) (5,286)
Total advances, net $ 65,145  $ 85,523 
Management has established a foreclosure loss reserve for estimated uncollectible balances of the foreclosure and trust advances. The activity of the foreclosure loss reserve was as follows:
Three Months Ended
March 31,
(in thousands)
 2025 2024
Balance — beginning of period $ 5,286  $ 5,694 
Provision for foreclosure losses 2,378  392 
Realized losses, net
 (733) (260)
Balance — end of period $ 6,931  $ 5,826