Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

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,
	2023			2022			2023			2022
	(In thousands)						(In thousands)
Balance at beginning of period	$	2,575,117		$	1,903,857		$	2,476,617		$	1,749,098
Finance receivables at fair value acquired during period		305,450			511,068			658,048			904,475
Payments received on finance receivables at fair value		(215,314	)		(215,930	)		(421,940	)		(425,774	)
Net interest income accretion on fair value receivables		(46,833	)		(29,562	)		(94,305	)		(60,766	)
Mark to fair value		–			4,700			–			7,100
Balance at end of period	$	2,618,420		$	2,174,133		$	2,618,420		$	2,174,133

Finance receivables fair and contractual balances

	June 30, 2023				December 31, 2022
	Contractual		Fair		Contractual		Fair
	Balance		Value		Balance		Value
	(In thousands)
Finance receivables measured at fair value	$	2,857,205	$	2,618,420	$	2,701,184	$	2,476,617

Schedule of level 3 fair value measurements

Financial Instrument	Fair Values as of					Inputs as of
	June 30,		December 31,			June 30,	December 31,
	2023		2022		Unobservable	2023	2022
	(In thousands)
Assets:
Finance receivables measured at fair value	$	2,618,420	$	2,476,617	Discount rate	11.0% - 11.5%	11.0% - 11.3%
					Cumulative net losses	10.0% - 21.5%	13.4% - 19.4%

Schedule of delinquency status of finance receivables measured at fair value

	June 30,		December 31,
	2023		2022
	(In thousands)
Delinquency Status
Current	$	2,531,445	$	2,375,271
31 - 60 days		180,284		184,968
61 - 90 days		74,963		72,390
91 + days		28,619		29,048
Repo		41,894		39,507
	$	2,857,205	$	2,701,184

Schedule of estimated fair values of financial assets and liabilities

	As of June 30, 2023
Financial Instrument	(In thousands)
	Carrying		Fair Value Measurements Using:
	Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	7,081	$	7,081	$	–	$	–	$	7,081
Restricted cash and equivalents		148,063		148,063		–		–		148,063
Finance receivables, net		46,359		–		–		42,495		42,495
Accrued interest receivable		93		–		–		93		93
Liabilities:
Warehouse lines of credit	$	245,272	$	–	$	–	$	245,272	$	245,272
Residual interest financing		49,749						49,749		49,749
Accrued interest payable		7,243		–		–		7,243		7,243
Securitization trust debt		2,225,072		–		–		2,137,162		2,137,162
Subordinated renewable notes		21,204		–		–		21,204		21,204

	As of December 31, 2022
Financial Instrument	(In thousands)
	Carrying		Fair Value Measurements Using:
	Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	13,490	$	13,490	$	–	$	–	$	13,490
Restricted cash and equivalents		149,299		149,299		–		–		149,299
Finance receivables, net		70,551		–		–		60,063		60,063
Accrued interest receivable		649		–		–		649		649
Liabilities:
Warehouse lines of credit	$	285,328	$	–	$	–	$	285,328	$	285,328
Accrued interest payable		6,190		–		–		6,190		6,190
Securitization trust debt		2,108,744		–		–		1,957,995		1,957,995
Subordinated renewable notes		25,263		–		–		25,263		25,263