Notes Receivable, Net |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes Receivable, net | Note 4 – Notes Receivable, net The Company’s notes receivable balance consists of loans to buyers of charged-off and nonperforming receivable portfolios which resulted in a total outstanding principal balance of approximately $4.0 million, net of unamortized deferred fees and costs on originated loans. The activity during 2021 includes the issuance of additional notes of approximately $8.0 million, principal payments made by borrowers of approximately $4.0 million, the transfer of notes to the Company's joint venture, HGC Funding I LLC and Origination I LLC, of approximately $2.0 million, and adjustments to the deferred fees and costs balance of approximately $0.1 million. The table below shows the Company’s lending activity during 2021 and 2020:
As of December 31, 2021, the Company has not recorded an allowance for credit losses related to notes receivable outstanding. |