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Advances and Other Receivables
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Advances and Other Receivables
4. Advances and Other Receivables

Advances and other receivables, net, consists of the following:
Advances and Other Receivables, NetJune 30, 2024December 31, 2023
Servicing advances, net of $12 and $13 purchase discount
$1,023 $1,065 
Receivables from agencies, investors and prior servicers, net of zero and $6 purchase discount
60 101 
Reserves(149)(170)
Total advances and other receivables, net$934 $996 
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 Receivables2024202320242023
Balance - beginning of period$144 $148 $170 $137 
Provision(1)
(4)9 11 18 
Reclassifications(2)
8 9 17 16 
Write-offs/Recoveries(3)
1 (10)(49)(15)
Balance - end of period$149 $156 $149 $156 

(1)The Company recorded a provision of $6 and $9 through the MTM adjustments in “revenues - service related, net” in the condensed consolidated statements of operations during the three months ended June 30, 2024 and 2023, respectively and a provision of $12 and $18 during the six months ended June 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 fully reserved items which have been removed from the servicing platform.

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,
20242023
Purchase Discount for Advances and Other ReceivablesServicing AdvancesReceivables from Agencies, Investors and Prior ServicersServicing AdvancesReceivables from Agencies, Investors and Prior Servicers
Balance - beginning of period$12 $— $9 $7 
Balance - end of period$12 $— $9 $7 

Six Months Ended June 30,
20242023
Purchase Discount for Advances and Other ReceivablesServicing AdvancesReceivables from Agencies, Investors and Prior ServicersServicing AdvancesReceivables from Agencies, Investors and Prior Servicers
Balance - beginning of period$13 $6 $12 $7 
Utilization of purchase discounts(1)(6)(3)— 
Balance - end of period$12 $— $9 $7 

Credit Loss for Advances and Other Receivables
The following table sets forth the activities of the CECL allowance for advances and other receivables:
Three Months Ended June 30,Six Months Ended June 30,
CECL Allowance for Advances and Other Receivables2024202320242023
Balance - beginning of period$17 $38 $35 $36 
Provision2 (1)3 1 
Write-offs(1)
— — (19)— 
Balance - end of period(2)
$19 $37 $19 $37 

(1)Write-offs represent fully reserved items which have been removed from the servicing platform.
(2)As of June 30, 2024, $19 was recorded in reserves. As of June 30, 2023, $30 and $7 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.