XML 19 R9.htm IDEA: XBRL DOCUMENT
v3.24.2

ACCOUNTS RECEIVABLE, NET | 6 Months Ended
--- | ---
Jun. 30, 2024
Receivables [Abstract] |
ACCOUNTS RECEIVABLE, NET | ACCOUNTS RECEIVABLE, NET Accounts receivable, net consists of the following:
(in thousands) |  | June 30, 2024 |  | December 31, 2023
Billed |  | $ | 10,146 |  |  | $ | 9,826 |
Unbilled |  | 6,465 |  |  | 4,979 |
|  | 16,611 |  |  | 14,805 |
Less: Allowance for credit losses |  | (3,421) |  |  | (3,123) |
Total |  | $ | 13,190 |  |  | $ | 11,682 |
Unbilled accounts receivable consist primarily of certain real estate asset management services, REO and foreclosure sales, title and closing services, for which we generally recognize revenue when the service is provided but collect upon closing of the sale, as well as foreclosure trustee services and the recently launched property renovation services, for which we generally recognize revenues over the service delivery period but bill following completion of the service. We also include amounts in unbilled accounts receivable that are earned during a month and billed in the following month. We are exposed to credit losses through our sales of products and services to our customers which are recorded as accounts receivable, net on the Company’s condensed consolidated financial statements. We monitor and estimate the allowance for credit losses based on our historical write-offs, historical collections, our analysis of past due accounts based on the contractual terms of the receivables, relevant market and industry reports and our assessment of the economic status of our customers, if known. Estimated credit losses are written off in the period in which the financial asset is determined to be no longer collectible. There can be no assurance that actual results will not differ from estimates or that consideration of these factors in the future will not result in an increase or decrease to our allowance for credit losses. Changes in the allowance for expected credit losses consist of the following:
|  |  |  | Additions |  |
(in thousands) |  | Balance at Beginning of Period |  | Charged to Expenses |  |  |  | Deductions Note(1) |  | Balance at End of Period
Allowance for expected credit losses: |  |  |  |  |  |  |  |  |  |
Three months ended June 30, 2024 |  | $ | 3,555 |  |  | $ | (8) |  |  |  |  | $ | (126) |  |  | $ | 3,421 |
Three months ended June 30, 2023 |  | 4,205 |  |  | 482 |  |  |  |  | (373) |  |  | 4,314 |
Six months ended June 30, 2024 |  | $ | 3,123 |  |  | $ | 550 |  |  |  |  | $ | (252) |  |  | $ | 3,421 |
Six months ended June 30, 2023 |  | 4,363 |  |  | 522 |  |  |  |  | (571) |  |  | 4,314 |
______________________________________ (1) Amounts written off as uncollectible or transferred to other accounts or utilized.

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-44 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-20/tableOfContent + Details
Name: | us-gaap_FinancingReceivablesTextBlock
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