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Advances and Other Receivables | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
Advances and Other Receivables | 5. Advances and Other Receivables Advances and other receivables, net consists of the following:
Advances and Other Receivables, Net | December 31, 2024 |  | December 31, 2023
Servicing advances, net of $6 and $13 purchase discount, respectively | $ | 1,410 |  |  | $ | 1,065 |
Receivables from agencies, investors and prior servicers, net o f zero and $6 purchase discount, respectively | 47 |  |  | 101 |
Reserves | (112) |  |  | (170) |
Total advances and other receivables, net | $ | 1,345 |  |  | $ | 996 |
The following table sets forth the activities of the servicing reserves for advances and other receivables:
| Year Ended December 31,
Reserves for Advances and Other Receivables | 2024 |  | 2023
Balance - beginning of year | $ | 170 |  |  | $ | 137 |
Provision, net(1) | 24 |  |  | 40 |
Reclassifications(2) | 24 |  |  | 27 |
Write-offs(3) | (106) |  |  | (34) |
Balance - end of year | $ | 112 |  |  | $ | 170 |
(1)The Company recorded a provision of $25 and $33 through the MTM adjustments in “revenues - service related, net” in the consolidated statements of operations during the years ended December 31, 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. Purchase Discount for Advances and Other Receivables The following table sets forth the activities of the purchase discount for advances and other receivables:
| Year Ended December 31, 2024 |  | Year Ended December 31, 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 year | $ | 13 |  |  | $ | 6 |  |  | $ | 12 |  |  | $ | 7 |
Addition from acquisition(1) | — |  |  | — |  |  | 5 |  |  | — |
Utilization of purchase discounts | (7) |  |  | (6) |  |  | (4) |  |  | (1) |
Balance - end of year | $ | 6 |  |  | $ | — |  |  | $ | 13 |  |  | $ | 6 |
(1)In connection with the acquisition of Home Point in 2023, the Company recorded the acquired advances and other receivables at estimate fair value as of the acquisition date, which resulted in a purchase discount of $5. Refer to Note 3, Acquisitions, for discussion of the Home Point acquisition. Credit Loss for Advances and Other Receivables The following table sets forth the activities of the CECL allowance for advances and other receivables:
| Year Ended December 31,
CECL Allowance for Advances and Other Receivables | 2024 |  | 2023
Balance - beginning of year | $ | 35 |  |  | $ | 36 |
Provision, net | (2) |  |  | 1 |
Write-offs(1) | (20) |  |  | (2) |
Balance - end of year(2) | $ | 13 |  |  | $ | 35 |
(1)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. (2)As of December 31, 2024, $13 was included in reserves. As of December 31, 2023, $29 and $6 were included in reserves and purchase discount, respectively.

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- Definition The entire disclosure for claims held for amounts due to 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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