XML 29 R11.htm IDEA: XBRL DOCUMENT
v3.23.2

Advances and Other Receivables | 6 Months Ended
--- | ---
Jun. 30, 2023
Receivables [Abstract] |
Advances and Other Receivables | 4. Advances and Other Receivables Advances and other receivables, net, consists of the following:
Advances and Other Receivables, Net | June 30, 2023 |  | December 31, 2022
Servicing advances, net of $9 and $12 purchase discount, respectively | $ | 849 |  |  | $ | 1,053 |
Receivables from agencies, investors and prior servicers, net of $7 purchase discount | 109 |  |  | 103 |
Reserves | (156) |  |  | (137) |
Total advances and other receivables, net | $ | 802 |  |  | $ | 1,019 |
The following table sets forth the activities of the servicing reserves for advances and other receivables:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Reserves for Advances and Other Receivables | 2023 |  | 2022 |  | 2023 |  | 2022
Balance - beginning of period | $ | 148 |  |  | $ | 152 |  |  | $ | 137 |  |  | $ | 167 |
Provision | 9 |  |  | 6 |  |  | 18 |  |  | 12 |
Reclassifications(1) | 9 |  |  | 12 |  |  | 16 |  |  | 22 |
Write-offs | (10) |  |  | (20) |  |  | (15) |  |  | (51) |
Balance - end of period | $ | 156 |  |  | $ | 150 |  |  | $ | 156 |  |  | $ | 150 |
(1)Reclassifications represent required reserves provisioned within other balance sheet accounts as associated serviced loans become inactive or liquidate. Purchase Discount for Advances and Other Receivables The following tables set forth the activities of the purchase discounts for advances and other receivables:
| Three Months Ended June 30,
| 2023 |  | 2022
Purchase Discount for Advances and Other Receivables | Servicing Advances |  | Receivables from Agencies, Investors and Prior Servicers |  | Servicing Advances |  | Receivables from Agencies, Investors and Prior Servicers
Balance - beginning of period | $ | 9 |  |  | $ | 7 |  |  | $ | 16 |  |  | $ | 8 |
Utilization of purchase discounts | — |  |  | — |  |  | (2) |  |  | — |
Balance - end of period | $ | 9 |  |  | $ | 7 |  |  | $ | 14 |  |  | $ | 8 |
| Six Months Ended June 30,
| 2023 |  | 2022
Purchase Discount for Advances and Other Receivables | Servicing Advances |  | Receivables from Agencies, Investors and Prior Servicers |  | Servicing Advances |  | Receivables from Agencies, Investors and Prior Servicers
Balance - beginning of period | $ | 12 |  |  | $ | 7 |  |  | $ | 19 |  |  | $ | 12 |
Utilization of purchase discounts | (3) |  |  | — |  |  | (5) |  |  | (4) |
Balance - end of period | $ | 9 |  |  | $ | 7 |  |  | $ | 14 |  |  | $ | 8 |
Credit Loss for Advances and Other Receivables During the three and six months ended June 30, 2023, the Company decreased and increased the current expected credit loss (“CECL”) reserve by $1, respectively. During the three and six months ended June 30, 2022, the Company increased the CECL reserve by $3 and $7, respectively. As of June 30, 2023, the total CECL reserve was $37, of which $30 and $7 were recorded in reserves and purchase discount for advances and other receivables, respectively. As of June 30, 2022, the total CECL reserve was $33, of which $25 and $8 were recorded in reserves and purchase discount for advances and other receivables, respectively. The Company determined that the credit-related risk associated with applicable financial instruments typically increases with the passage of time. The CECL reserve methodology considers these financial instruments collectible to a point in time of 39 months. Any projected remaining balance at the end of the collection period is considered a loss and factors into the overall CECL loss rate required.

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 -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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