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Securities Available for Sale (Tables)
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The amortized cost, gross unrealized gains and losses, credit valuation allowance, and fair value of AFS securities were as follows:
December 31, 2021Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Credit ValuationAllowance Fair
Value
U.S. agency residential mortgage-backed securities$125,985 $— $(2,286)$— $123,699 
Asset-backed senior securities28,057 72 — — 28,129 
U.S. agency securities26,902 1 (731)— 26,172 
Other asset-backed securities26,112 151 (130)— 26,133 
Commercial mortgage-backed securities26,649 1 (552)— 26,098 
CLUB Certificate asset-backed securities15,049 3,236 — — 18,285 
Asset-backed subordinated securities4,119 7,643 — — 11,762 
Municipal securities3,297 — (45)— 3,252 
Total securities available for sale (1)(2)
$256,170 $11,104 $(3,744)$— $263,530 
December 31, 2020Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Credit ValuationAllowance Fair
Value
Asset-backed senior securities$75,332 $67 $(27)$— $75,372 
CLUB Certificate asset-backed securities54,525 576 (772)(4,190)50,139 
Asset-backed subordinated securities29,107 2,128 (174)(14,546)16,515 
Other securities200 — — — 200 
Total securities available for sale (1)(2)
$159,164 $2,771 $(973)$(18,736)$142,226 
(1)    As of December 31, 2021 and 2020, $13.3 million and $119.3 million, respectively, of the asset-backed securities related to Structured Program transactions at fair value are subject to restrictions on transfer pursuant to the Company’s obligations as a “sponsor” under the U.S. Risk Retention Rules.
(2)    As of December 31, 2021 and 2020, includes $236.8 million and $133.5 million, respectively, of securities pledged as collateral at fair value.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
A summary of AFS securities with unrealized losses for which a credit valuation allowance has not been recorded aggregated by period of continuous unrealized loss, is as follows:
Less than
12 months		12 months
or longer		Total
December 31, 2021Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
U.S. agency residential mortgage-backed securities$123,668 $(2,286)$— $— $123,668 $(2,286)
U.S. agency securities24,175 (731)— — 24,175 (731)
Other asset-backed securities13,224 (130)— — 13,224 (130)
Commercial mortgage-backed securities25,927 (552)— — 25,927 (552)
Municipal securities3,252 (45)— — 3,252 (45)
Total securities with unrealized losses (1)
$190,246 $(3,744)$— $— $190,246 $(3,744)
Less than
12 months		12 months
or longer		Total
December 31, 2020Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Asset-backed securities related to Structured Program transactions$26,678 $(855)$6,052 $(118)$32,730 $(973)
Total securities with unrealized losses (1)
$26,678 $(855)$6,052 $(118)$32,730 $(973)
(1)    The number of investment positions with unrealized losses at December 31, 2021 and 2020 totaled 145 and 55, respectively.
Allowance for Credit Losses for Securities Available for Sale
The following tables present the activity in the credit valuation allowance for AFS securities, by major security type:
Credit Valuation AllowanceCLUB Certificate asset-backed securitiesAsset-backed subordinated securitiesTotal
Beginning balance as of December 31, 2020$(4,190)$(14,546)$(18,736)
Reversal of credit loss expense236 3,146 3,382 
Reversal of allowance arising from PCD financial assets3,954 11,400 15,354 
Ending balance as of December 31, 2021$— $— $— 
Credit Valuation AllowanceCLUB Certificate asset-backed securitiesAsset-backed subordinated securitiesTotal
Beginning balance as of January 1, 2020$— $— $— 
Provision for credit loss expense(236)(3,146)(3,382)
Allowance arising from PCD financial assets(3,954)(11,400)(15,354)
Ending balance as of December 31, 2020$(4,190)$(14,546)$(18,736)
Available-for-sale Securities Purchased with Credit Deterioration ecurities purchased with credit deterioration were as follows:
Year Ended December 31, 2020
Purchase price of PCD securities at acquisition$27,034 
Credit valuation allowance on PCD securities at acquisition15,354 
Par value of acquired PCD securities at acquisition$42,388 
Available-for-sale Securities by Contractual Maturity
The contractual maturities of AFS securities were as follows:
December 31, 2021Amortized CostFair Value
Weighted-
average
Yield(1)
Due after 5 years through 10 years:
U.S. agency residential mortgage-backed securities$710 $703 
Other asset-backed securities1,092 1,109 
Commercial mortgage-backed securities4,204 4,092 
U.S. agency securities1,998 1,992 
Municipal securities627 620 
Total due after 5 years through 10 years8,631 8,516 1.59 %
Due after 10 years:
U.S. agency residential mortgage-backed securities125,275 122,996 
Other asset-backed securities25,020 25,024 
Commercial mortgage-backed securities22,445 22,006 
U.S. agency securities24,904 24,180 
Municipal securities2,670 2,632 
Total due after 10 years200,314 196,838 1.57 %
Asset-backed securities related to Structured Program transactions
47,225 58,176 18.89 %
Total securities available for sale$256,170 $263,530 4.76 %
(1)    The weighted-average yield is computed using the amortized cost at December 31, 2021.
Schedule of Proceeds and Realized Gain (Loss)
Proceeds and gross realized gains and losses from AFS securities were as follows:
Year Ended December 31,202120202019
Proceeds$106,192 $6,217 $12,548 
Gross realized gains$708 $14 $9 
Gross realized losses$(952)$(3)$(1)