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Advances and Other Receivables, Net | 6 Months Ended
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Jun. 30, 2019
Receivables [Abstract] |
Advances and Other Receivables, Net | 4. Advances and Other Receivables, Net Advances and other receivables, net consists of the following.
| Successor
| June 30, 2019 |  | December 31, 2018
Servicing advances, net of $156 and $205 discount, respectively | $ | 878 |  |  | $ | 1,000 |
Receivables from agencies, investors and prior servicers, net of $48 and $48 discount, respectively | 220 |  |  | 241 |
Reserves | (98 | ) |  | (47 | )
Total advances and other receivables, net | $ | 1,000 |  |  | $ | 1,194 |
The Company, as loan servicer, is contractually responsible to advance funds on behalf of the borrower and investor primarily for loan principal and interest, property taxes and hazard insurance and foreclosure costs. Advances are primarily recovered through reimbursement from the investor, proceeds from sale of loan collateral or mortgage insurance claims. Reserves for advances and other receivables on loans transferred out of the MSR portfolio are established within advances and other receivables. The Company estimates and records an asset for estimated recoveries to be collected from prior servicers for their respective portion of the losses associated with the underlying loans that were not serviced in accordance with established guidelines. Receivables from prior servicers totaled $96 and $94 for Company’s forward loan portfolio at June 30, 2019 and December 31, 2018, respectively. The following table sets forth the activities of the reserves for advances and other receivables.
| Successor |  |  | Predecessor
Reserves for Advances and Other Receivables | Three Months Ended June 30, 2019 |  | Six Months Ended June 30, 2019 |  |  | Three Months Ended June 30, 2018 |  | Six Months Ended June 30, 2018
Balance - beginning of period | $ | 71 |  |  | 47 |  |  |  | $ | 277 |  |  | $ | 284 |
Provision and other additions(1) | 37 |  |  | 67 |  |  |  | 38 |  |  | 60 |
Write-offs | (10 | ) |  | (16 | ) |  |  | (21 | ) |  | (50 | )
Balance - end of period | $ | 98 |  |  | $ | 98 |  |  |  | $ | 294 |  |  | $ | 294 |
(1) | The Company and the Predecessor recorded a provision of $17 and $22 through the MTM adjustments in service related revenues for the three months ended June 30, 2019 and 2018, respectively, and $28 and $34 for the six months ended June 30, 2019 and 2018, respectively, for inactive and liquidated loans that are no longer part of the MSR portfolio. Other additions represent reclassifications of required reserves provisioned within other balance sheet accounts as associated serviced loans become inactive or liquidate.
Purchase Discount for Advances and Other Receivables In connection with the acquisition of Pacific Union in February 2019, the Company recorded the acquired advances and other receivables at estimated fair value as of the acquisition date, which resulted in a purchase discount of $19. Refer to Note 2, Acquisitions for discussion of the Pacific Union acquisition. In 2018, the Company recorded the acquired advances and other receivables in connection with the Merger at estimated fair value as of the acquisition date, which resulted in a purchase discount of $302. As of June 30, 2019, a total of $117 purchase discount has been utilized with $204 purchase discount remaining. The following table sets forth the activities of the purchase discounts for advances and other receivables.
| Successor
| Three Months Ended June 30, 2019 |  | Six Months Ended June 30, 2019
Purchase Discounts | Servicing Advances |  | Receivables from Agencies, Investors and Prior Servicers |  | Servicing Advances |  | Receivables from Agencies, Investors and Prior Servicers
Balance - beginning of period | $ | 169 |  |  | $ | 48 |  |  | $ | 205 |  |  | $ | 48 |
Addition from acquisition | — |  |  | — |  |  | 19 |  |  | — |
Utilization of purchase discounts | (13 | ) |  | — |  |  | (68 | ) |  | — |
Balance - end of period | $ | 156 |  |  | $ | 48 |  |  | $ | 156 |  |  | $ | 48 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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