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Advances and Other Receivables (Tables) | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Schedule of accounts receivable | Advances and other receivables, net, consists of the following:
Advances and Other Receivables, Net | September 30, 2024 |  | December 31, 2023
Servicing advances, net of $7 and $13 purchase discount | $ | 1,012 |  |  | $ | 1,065 |
Receivables from agencies, investors and prior servicers, net of zero and $6 purchase discount | 43 |  |  | 101 |
Reserves | (115) |  |  | (170) |
Total advances and other receivables, net | $ | 940 |  |  | $ | 996 |
The following table sets forth the activities of the servicing reserves for advances and other receivables:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
Reserves for Advances and Other Receivables | 2024 |  | 2023 |  | 2024 |  | 2023
Balance - beginning of period | $ | 149 |  |  | $ | 156 |  |  | $ | 170 |  |  | $ | 137 |
Provision(1) | 8 |  |  | 8 |  |  | 19 |  |  | 26 |
Reclassifications(2) | 6 |  |  | 11 |  |  | 23 |  |  | 27 |
Write-offs(3) | (48) |  |  | (11) |  |  | (97) |  |  | (26) |
Balance - end of period | $ | 115 |  |  | $ | 164 |  |  | $ | 115 |  |  | $ | 164 |
(1)The Company recorded a provision of $5 and $8 through the MTM adjustments in “revenues - service related, net” in the condensed consolidated statements of operations during the three months ended September 30, 2024 and 2023, respectively and a provision of $17 and $26 during the nine months ended September 30, 2024 and 2023, respectively. (2)Reclassifications represent required reserves provisioned within other balance sheet accounts as associated serviced loans become inactive or liquidate. (3)Write-offs represent balances removed from the servicing platform during the respective periods, including fully reserved balances related to third-party settlements where further loss recovery of prior servicer errors is limited. The following tables set forth the activities of the purchase discounts for advances and other receivables:
| Three Months Ended September 30,
| 2024 |  | 2023
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 |  |  | $ | — |  |  | $ | 9 |  |  | $ | 7 |
Additions | — |  |  | — |  |  | 4 |  |  | — |
Utilization of purchase discounts | (5) |  |  | — |  |  | (1) |  |  | — |
Balance - end of period | $ | 7 |  |  | $ | — |  |  | $ | 12 |  |  | $ | 7 |
| Nine Months Ended September 30,
| 2024 |  | 2023
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 | $ | 13 |  |  | $ | 6 |  |  | $ | 12 |  |  | $ | 7 |
Additions | — |  |  | — |  |  | 4 |  |  | — |
Utilization of purchase discounts | (6) |  |  | (6) |  |  | (4) |  |  | — |
Balance - end of period | $ | 7 |  |  | $ | — |  |  | $ | 12 |  |  | $ | 7 |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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