Advances and Other Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of Advances, Net

Advances and other receivables, net consists of the following:

	Successor
Advances and Other Receivables, Net	December 31, 2020		December 31, 2019
Servicing advances, net of $72 and $131 purchase discount, respectively	$	975	$	970
Receivables from agencies, investors and prior servicers, net of $21 and $21 purchase discount, respectively	173		193
Reserves	(208)		(175)
Total advances and other receivables, net	$	940	$	988

The following table sets forth the activities of the servicing reserves for advances and other receivables:

	Successor
	Year Ended December 31,
Reserves for Advances and Other Receivables	2020		2019
Balance - beginning of year(1)	$	168	$	47
Provision and other additions(2)	108		160
Write-offs	(68)		(32)
Balance - end of year	$	208	$	175

(1)As described in Note 1, Nature of Business and Basis of Presentation, the Company recorded a transition adjustment of $7 to the advances and other receivables reserve as of January 1, 2020 for the cumulative effect of adopting ASU 2016-13.

(2)The Company recorded a provision of $28 and $62 through the MTM adjustments in revenues - service related, net, in the consolidated statements of operations during the years ended December 31, 2020 and 2019, respectively, for inactive and liquidated loans that are no longer part of the MSR portfolio. Other additions represent reclassifications of 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:

	Successor
	Year Ended December 31, 2020				Year Ended December 31, 2019
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	$	131	$	21	$	205	$	48
Addition from acquisition	—		—		19		—
Utilization of purchase discounts	(59)		—		(93)		(27)
Balance - end of year	$	72	$	21	$	131	$	21