XML 124 R12.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Advances and Other Receivables, Net | 12 Months Ended
--- | ---
Dec. 31, 2019
Receivables [Abstract] |
Advances and Other Receivables, Net | 5. Advances and Other Receivables, Net Advances and other receivables, net consists of the following:
| Successor
| December 31, 2019 |  | December 31, 2018
Servicing advances, net of $131 and $205 discount, respectively | $ | 970 |  |  | $ | 1,000 |
Receivables from agencies, investors and prior servicers, net of $21 and $48 discount, respectively | 193 |  |  | 241 |
Reserves | (175 | ) |  | (47 | )
Total advances and other receivables, net | $ | 988 |  |  | $ | 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, 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 following table sets forth the activities of the servicing reserves for advances and other receivables:
| Successor |  |  | Predecessor
Reserves for Advances and Other Receivables | Year Ended December 31, 2019 |  | Five Months Ended December 31, 2018 |  |  | Seven Months Ended July 31, 2018
Balance - beginning of period | $ | 47 |  |  | $ | — |  |  |  | $ | 284 |
Provision and other additions(1) | 160 |  |  | 47 |  |  |  | 69 |
Write-offs | (32 | ) |  | — |  |  |  | (56 | )
Balance - end of period | $ | 175 |  |  | $ | 47 |  |  |  | $ | 297 |
(1) | The Company recorded a provision of $62 and $25, and the Predecessor recorded a provision of $38 through the MTM adjustments in revenues - service related, net in the consolidated statements of operations for the year ended December 31, 2019, five months ended December 31, 2018 and seven months ended July 31, 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 3, 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 purchase discount of $302. As of December 31, 2019, a total of $169 purchase discount has been utilized, with $152 purchase discount remaining. The following table sets forth the activities of the purchase discount for advances and other receivables:
| Successor
| Year Ended December 31, 2019 |  | Five Months Ended December 31, 2018
Purchase Discounts | Servicing Advances |  | Receivables from Agencies, Investors and Prior Servicers |  | Servicing Advances |  | Receivables from Agencies, Investors and Prior Servicers
Balance - beginning of period | $ | 205 |  |  | $ | 48 |  |  | $ | 246 |  |  | $ | 56 |
Addition from acquisition | 19 |  |  | — |  |  | — |  |  | — |
Utilization of purchase discounts | (93 | ) |  | (27 | ) |  | (41 | ) |  | (8 | )
Balance - end of period | $ | 131 |  |  | $ | 21 |  |  | $ | 205 |  |  | $ | 48 |

X
- 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
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration