(9) Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2020			2019			2020			2019
	(In thousands)						(In thousands)
Balance at beginning of period	$	1,559,697		$	997,552		$	1,444,038		$	821,066
Finance receivables at fair value acquired during period		134,447			249,873			399,729			494,626
Payments received on finance receivables at fair value		(112,505	)		(68,005	)		(222,063	)		(117,505	)
Net interest income accretion on fair value receivables		(34,441	)		(21,055	)		(64,156	)		(39,822	)
Mark to fair value		(9,549	)		–			(19,899	)		–
Balance at end of period	$	1,537,649		$	1,158,365		$	1,537,649		$	1,158,365

Schedule of finance receivables to their contractual balances

	June 30, 2020				December 31, 2019
	Contractual		Fair		Contractual		Fair
	Balance		Value		Balance		Value
	(In thousands)
Finance receivables measured at fair value	$	1,631,731	$	1,537,649	$	1,492,803	$	1,444,038

Schedule of level 3 fair value measurements

Financial Instrument	Fair Values as of					Inputs as of
	June 30,		December 31,			June 30,		December 31,
	2020		2019		Unobservable Inputs	2020		2019
		(In thousands)
Assets:
Finance receivables measured at fair value	$	1,537,649	$	1,444,038	Discount rate		10.0% - 11.1%		8.9% - 11.1%
					Cumulative net losses		15.3% - 18.4%		15.0% - 16.1%

Schedule of delinquency status of finance receivables measured at fair value

	June 30,		December 31,
	2020		2019
	(In thousands)
Delinquency Status
Current	$	1,523,495	$	1,344,883
31 - 60 days		62,675		81,262
61 - 90 days		22,246		34,280
91 + days		8,127		15,167
Repo		15,188		17,211
	$	1,631,731	$	1,492,803

Schedule of estimated fair values of financial assets and liabilities

	As of June 30, 2020
Financial Instrument	(In thousands)
	Carrying		Fair Value Measurements Using:
	Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	7,475	$	7,475	$	–	$	–	$	7,475
Restricted cash and equivalents		139,191		139,191		–		–		139,191
Finance receivables, net		571,170		–		–		526,888		526,888
Accrued interest receivable		7,229		–		–		7,229		7,229
Liabilities:
Warehouse lines of credit	$	56,668	$	–	$	–	$	56,668	$	56,668
Accrued interest payable		5,231		–		–		5,231		5,231
Residual interest financing		37,544		–		–		37,544		37,544
Securitization trust debt		2,051,172		–		–		2,034,363		2,034,363
Subordinated renewable notes		19,580		–		–		19,580		19,580

	As of December 31, 2019
Financial Instrument	(In thousands)
	Carrying		Fair Value Measurements Using:
	Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	5,295	$	5,295	$	–	$	–	$	5,295
Restricted cash and equivalents		135,537		135,537		–		–		135,537
Finance receivables, net		885,890		–		–		841,160		841,160
Accrued interest receivable		11,645		–		–		11,645		11,645
Liabilities:
Warehouse lines of credit	$	134,791	$	–	$	–	$	134,791	$	134,791
Accrued interest payable		5,254		–		–		5,254		5,254
Residual interest financing		39,478		–		–		39,478		39,478
Securitization trust debt		2,097,728		–		–		2,116,520		2,116,520
Subordinated renewable notes		17,534		–		–		17,534		17,534