Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

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,
	2024			2023			2024			2023
	(In thousands)						(In thousands)
Balance at beginning of period	$	2,791,373		$	2,575,117		$	2,722,662		$	2,476,617
Finance receivables at fair value acquired during period		424,867			305,450			753,760			658,048
Payments received on finance receivables at fair value		(208,964	)		(215,314	)		(419,899	)		(421,940	)
Net interest income accretion on fair value receivables		(52,401	)		(46,833	)		(106,648	)		(94,305	)
Mark to fair value		5,500			–			10,500			–
Balance at end of period	$	2,960,375		$	2,618,420		$	2,960,375		$	2,618,420

Schedule of finance receivables to their contractual balances

	June 30, 2024				December 31, 2023
	Contractual		Fair		Contractual		Fair
	Balance		Value		Balance		Value
	(In thousands)
Finance receivables measured at fair value	$	3,160,134	$	2,960,375	$	2,941,915	$	2,722,662

Schedule of level 3 fair value measurements

Financial Instrument	Fair Values as of					Weighted Avg. Inputs as of
	June 30,		December 31,			June 30,		December 31,
	2024		2023		Unobservable Inputs	2024		2023
	(In thousands)
Assets:
Finance receivables measured at fair value	$	2,960,375	$	2,722,662	Discount rate		11.39%		11.35%
					Cumulative net losses		15.38%		15.25%

Schedule of delinquency status of finance receivables measured at fair value

	June 30,		December 31,
	2024		2023
	(In thousands)
Delinquency Status
Current	$	2,743,578	$	2,520,158
31 - 60 days		201,748		204,574
61 - 90 days		91,353		101,057
91 + days		47,122		49,541
Repo		76,333		66,585
	$	3,160,134	$	2,941,915

Schedule of fair values of financial assets and liabilities

	As of June 30, 2024
Financial Instrument	(In thousands)
	Carrying		Fair Value Measurements Using:
	Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	9,752	$	9,752	$	–	$	–	$	9,752
Restricted cash and equivalents		256,859		256,859		–		–		256,859
Finance receivables, net		12,030		–		–		10,326		10,326
Accrued interest receivable		129		–		–		129		129
Liabilities:
Warehouse lines of credit	$	82,175	$	–	$	–	$	82,175	$	82,175
Residual interest financing		99,079						99,079		99,079
Accrued interest payable		8,473		–		–		8,473		8,473
Securitization trust debt		2,736,225		–		–		2,711,060		2,711,060
Subordinated renewable notes		22,356		–		–		22,356		22,356

	As of December 31, 2023
Financial Instrument	(In thousands)
	Carrying		Fair Value Measurements Using:
	Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	6,174	$	6,174	$	–	$	–	$	6,174
Restricted cash and equivalents		119,257		119,257		–		–		119,257
Finance receivables, net		24,684		–		–		20,848		20,848
Accrued interest receivable		292		–		–		292		292
Liabilities:
Warehouse lines of credit	$	234,025	$	–	$	–	$	234,025	$	234,025
Accrued interest payable		7,928		–		–		7,928		7,928
Securitization trust debt		2,265,446		–		–		2,183,331		2,183,331
Subordinated renewable notes		17,188		–		–		17,188		17,188