Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis as of December 31 (in thousands):

	2017
Description	Level 1		Level 2		Level 3		Total
Assets:
Servicing assets	$	—	$	—	$	154	$	154
Total assets	$	—	$	—	$	154	$	154

	2016
Description	Level 1		Level 2		Level 3		Total
Assets:
Servicing assets	$	—	$	—	$	1,131	$	1,131
Total assets	$	—	$	—	$	1,131	$	1,131

Summary of Significant Unobservable Inputs for Level 3 Fair Value Measurement

The following tables presents quantitative information about the significant unobservable inputs used for certain of our Level 3 fair value measurement as of December 31:

	December 31, 2017
	Unobservable input	Minimum		Maximum		Weighted Average
Servicing assets	Discount rate	30.00	%	30.00	%	30.00	%
	Cost of service(1)	0.04	%	0.13	%	0.12	%
	Renewal rate	41.06	%	51.83	%	49.59	%
	Default rate	10.63	%	10.92	%	10.70	%
(1)Estimated cost of servicing a loan as a percentage of unpaid principal balance.

	December 31, 2016
	Unobservable input	Minimum		Maximum		Weighted Average
Servicing assets	Discount rate	30.00	%	30.00	%	30.00	%
	Cost of service(1)	0.09	%	0.14	%	0.11	%
	Renewal rate	46.20	%	56.54	%	50.14	%
	Default rate	10.32	%	10.75	%	10.48	%
(1)Estimated cost of servicing a loan as a percentage of unpaid principal balance.

Summary of Effect on Changes in Estimate for Servicing Asset Fair Value

The following table summarizes the effect adverse changes in estimate would have on the fair value of the servicing asset as of December 31, 2017 and December 31, 2016 given a hypothetical changes in default rate and cost to service (in thousands):

	December 31, 2017			December 31, 2016
	Servicing Assets
Default rate assumption:
Default rate increase of 25%	$	(40	)	$	(98	)
Default rate increase of 50%	$	(76	)	$	(188	)
Cost to service assumption:
Cost to service increase by 25%	$	(63	)	$	(60	)
Cost to service increase by 50%	$	(126	)	$	(120	)

Schedule of Assets and Liabilities Disclosed at Fair Value

The following tables summarize the carrying value and fair value of our loans held for investment, loans held for sale and fixed-rate debt (in thousands):

	December 31, 2017
Description	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets:
Loans held for investment	$	843,781	$	932,343	$	—	$	—	$	932,343
Loans held for sale	—		—		—				—
Total assets	$	843,781	$	932,343	$	—	$	—	$	932,343
Description
Liabilities:
Fixed-rate debt	$	300,706	$	293,512	$	—	$	—	$	293,848
Total fixed-rate debt	$	300,706	$	293,512	$	—	$	—	$	293,848

	December 31, 2016
Description	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets:
Loans held for investment	$	890,283	$	979,780	$	—	$	—	$	979,780
Loans held for sale	373		394		—				394
Total assets	$	890,656	$	980,174	$	—	$	—	$	980,174
Description
Liabilities:
Fixed-rate debt	$	280,886	$	275,200	$	—	$	—	$	275,200
Total fixed-rate debt	$	280,886	$	275,200	$	—	$	—	$	275,200