(9) Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

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

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2020			2019			2020			2019
	(In thousands)						(In thousands)
Balance at beginning of period	$	1,537,649		$	1,158,365		$	1,444,038		$	821,066
Finance receivables at fair value acquired during period		173,209			261,929			572,938			756,555
Payments received on finance receivables at fair value		(132,847	)		(83,384	)		(354,910	)		(200,889	)
Net interest income accretion on fair value receivables		(33,904	)		(24,309	)		(98,060	)		(64,131	)
Mark to fair value		(3,152	)		604			(23,051	)		604
Balance at end of period	$	1,540,955		$	1,313,205		$	1,540,955		$	1,313,205

Schedule of finance receivables to their contractual balances

	September 30, 2020				December 31, 2019
	Contractual		Fair		Contractual		Fair
	Balance		Value		Balance		Value
	(In thousands)
Finance receivables measured at fair value	$	1,658,662	$	1,540,955	$	1,492,803	$	1,444,038

Schedule of level 3 fair value measurements

Financial Instrument	Fair Values as of					Inputs as of
	September 30,		December 31,			September 30,		December 31,
	2020		2019		Unobservable Inputs	2020		2019
	(In thousands)
Assets:
Finance receivables measured at fair value	$	1,540,955	$	1,444,038	Discount rate		10.5% - 11.1%		8.9% - 11.1%
					Cumulative net losses		16.4% - 18.4%		15.0% - 16.1%

Schedule of delinquency status of finance receivables measured at fair value

	September 30,		December 31,
	2020		2019
	(In thousands)
Delinquency Status
Current	$	1,530,301	$	1,344,883
31 - 60 days		76,208		81,262
61 - 90 days		27,616		34,280
91 + days		9,159		15,167
Repo		15,378		17,211
	$	1,658,662	$	1,492,803

Schedule of estimated fair values of financial assets and liabilities

	As of September 30, 2020
Financial Instrument	(In thousands)
	Carrying		Fair Value Measurements Using:
	Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	11,253	$	11,253	$	–	$	–	$	11,253
Restricted cash and equivalents		200,912		200,912		–		–		200,912
Finance receivables, net		483,063		–		–		450,325		450,325
Accrued interest receivable		6,291		–		–		6,291		6,291
Liabilities:
Warehouse lines of credit	$	31,201	$	–	$	–	$	31,201	$	31,201
Accrued interest payable		4,937		–		–		4,937		4,937
Residual interest financing		32,000		–		–		32,000		32,000
Securitization trust debt		2,048,089		–		–		2,137,877		2,137,877
Subordinated renewable notes		20,242		–		–		20,242		20,242

	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