Advances and Other Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of Advances, Net

Advances and other receivables, net consists of the following:

Advances and Other Receivables, Net	December 31, 2023		December 31, 2022
Servicing advances, net of $13 and $12 purchase discount, respectively	$	1,065	$	1,053
Receivables from agencies, investors and prior servicers, net of $6 and $7 purchase discount	101		103
Reserves	(170)		(137)
Total advances and other receivables, net	$	996	$	1,019

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	2023		2022
Balance - beginning of year	$	137	$	167
Provision	40		30
Reclassifications(1)	27		36
Write-offs	(34)		(96)
Balance - end of year	$	170	$	137

(1)Reclassifications represent required reserves provisioned within other balance sheet accounts as associated serviced loans become inactive or liquidate.

The following table sets forth the activities of the purchase discount for advances and other receivables:

	Year Ended December 31, 2023				Year Ended December 31, 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 year	$	12	$	7	$	19	$	12
Addition from acquisition(1)	5		—		—		—
Utilization of purchase discounts	(4)		(1)		(7)		(5)
Balance - end of year	$	13	$	6	$	12	$	7

(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.

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	2023		2022
Balance - beginning of year	$	36	$	31
Provision	1		10
Write-offs	(2)		(5)
Balance - end of year(1)	$	35	$	36

(1)As of December 31, 2023, $29 and $6 were included in reserves and purchase discount, respectively. As of December 31, 2022, $29 and $7 were included in reserves and purchase discount, respectively.