Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans

12 Months Ended

Dec. 31, 2013

Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans [Abstract]

Consumer Loans, Credit Quality Information And Allowances And Liabilities For Estimated Losses On Consumer Loans

5. Consumer Loans, Credit Quality Information on Consumer Loans, Allowance and Liability for Estimated Losses on Consumer Loans

Consumer loan fee revenue generated from the Company's consumer loans for the years ended December 31, 2013 and 2012 was as follows (dollars in thousands):

	Year Ended December 31,
	2013		2012		2011

Interest and fees on short-term loans	$	489,852	$	569,765	$	510,881
Interest and fees on line of credit accounts		170,496		73,572		30,590
Interest and fees on installment loans		217,835		138,183		57,175
Total consumer loan revenue	$	878,183	$	781,520	$	598,646

The components of Company-owned consumer loan portfolio receivables at December 31, 2013 and 2012 was as follows (dollars in thousands):

	As of December 31, 2013
		Short-term Loans		Line of Credit Accounts		Installment Loans		Total
Current loans	$	101,379	$	111,822	$	168,221	$	381,422
Delinquent loans		29,857		13,980		21,448		65,285
Total consumer loans, gross		131,236		125,802		189,669		446,707
Less: Allowance for losses		(24,425)		(29,784)		(33,657)		(87,866)
Consumer loans, net	$	106,811	$	96,018	$	156,012	$	358,841

	As of December 31, 2012
		Short-term Loans		Line of Credit Accounts		Installment Loans		Total
Current loans	$	146,732	$	36,603	$	117,641	$	300,976
Delinquent loans		52,565		6,097		15,483		74,145
Total consumer loans, gross		199,297		42,700		133,124		375,121
Less: Allowance for losses		(45,982)		(11,107)		(28,614)		(85,703)
Consumer loans, net	$	153,315	$	31,593	$	104,510	$	289,418

Changes in the allowance for losses for the Company-owned loans and the liability for estimated losses on the Company's guarantees of third-party lender-owned loans through the CSO programs for the years ended December 31, 2013, 2012 and 2011 were as follows (dollars in thousands):

	Year Ended December 31, 2013
	Short-term Loans		Line of Credit Accounts		Installment Loans		Total

Allowance for losses for Company-owned consumer loans:
Balance at beginning of period	$	45,982	$	11,107	$	28,614	$	85,703
Consumer loan loss provision		164,082		74,306		113,285		351,673
Charge-offs		(225,816)		(62,347)		(123,276)		(411,439)
Recoveries		40,177		6,718		15,034		61,929
Balance at end of period	$	24,425	$	29,784	$	33,657	$	87,866

Liability for third-party lender-owned consumer loans:
Balance at beginning of period	$	2,934	$	-	$	564	$	3,498
(Decrease) increase in liability		(612)		-		194		(418)
Balance at end of period	$	2,322	$	-	$	758	$	3,080

	Year Ended December 31, 2012
	Short-term Loans		Line of Credit Accounts		Installment Loans		Total

Allowance for losses for Company-owned consumer loans:
Balance at beginning of period	$	46,406	$	3,723	$	12,943	$	63,072
Consumer loan loss provision		202,008		34,793		79,057		315,858
Charge-offs		(241,641)		(31,399)		(69,438)		(342,478)
Recoveries		39,209		3,990		6,052		49,251
Balance at end of period	$	45,982	$	11,107	$	28,614	$	85,703

Liability for third-party lender-owned consumer loans:
Balance at beginning of period	$	2,617	$	-	$	445	$	3,062
Increase in liability		317		-		119		436
Balance at end of period	$	2,934	$	-	$	564	$	3,498

	Year Ended December 31, 2011
	Short-term Loans		Line of Credit Accounts		Installment Loans		Total

Allowance for losses for Company-owned consumer loans:
Balance at beginning of period	$	32,942	$	3,023	$	2,988	$	38,953
Consumer loan loss provision		180,791		7,825		36,848		225,464
Charge-offs		(196,643)		(7,877)		(28,201)		(232,721)
Recoveries		29,316		752		1,308		31,376
Balance at end of period	$	46,406	$	3,723	$	12,943	$	63,072

Liability for third-party lender-owned consumer loans:
Balance at beginning of period	$	2,610	$	-	$	228	$	2,838
Increase in liability		7		-		217		224
Balance at end of period	$	2,617	$	-	$	445	$	3,062

In connection with its CSO programs, the Company guarantees consumer loan payment obligations to unrelated third-party lenders for short-term loans and secured auto-equity loans and is required to purchase any defaulted loans it has guaranteed. The guarantee represents an obligation to purchase specific loans that go into default. As of December 31, 2013 and 2012, the amount of consumer loans guaranteed by the Company was $59.0 million and $64.7 million, respectively, representing amounts due under consumer loans originated by third-party lenders under the CSO programs. The estimated fair value of the liability for estimated losses on consumer loans guaranteed by the Company of $3.1 million and $3.5 million as of December 31, 2013 and 2012, respectively, is included in “Accounts payable and accrued expenses” in the consolidated balance sheets.