Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

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,
	2024			2023			2024			2023
	(In thousands)						(In thousands)
Balance at beginning of period	$	2,960,375		$	2,618,420		$	2,722,662		$	2,476,617
Finance receivables at fair value acquired during period		442,126			300,539			1,195,886			958,587
Payments received on finance receivables at fair value		(217,945	)		(203,775	)		(637,844	)		(625,715	)
Net interest income accretion on fair value receivables		(57,746	)		(49,644	)		(164,394	)		(143,949	)
Mark to fair value		5,500			6,000			16,000			6,000
Balance at end of period	$	3,132,310		$	2,671,540		$	3,132,310		$	2,671,540

Schedule of finance receivables to their contractual balances

	September 30, 2024				December 31, 2023
	Contractual		Fair		Contractual		Fair
	Balance		Value		Balance		Value
	(In thousands)
Finance receivables measured at fair value	$	3,321,329	$	3,132,310	$	2,941,915	$	2,722,662

Schedule of level 3 fair value measurements

Financial Instrument	Fair Values as of					Weighted Avg. Inputs as of
	September 30,		December 31,			September 30,		December 31,
	2024		2023		Unobservable Inputs	2024		2023
	(In thousands)
Finance receivables measured at fair value	$	3,132,310	$	2,722,662	Discount rate		11.36%		11.35%
					Cumulative net losses		15.44%		15.25%

Schedule of delinquency status of finance receivables measured at fair value

	September 30,		December 31,
	2024		2023
	(In thousands)
Delinquency Status
Current	$	2,857,495	$	2,520,158
31 - 60 days		217,365		204,574
61 - 90 days		102,088		101,057
91 + days		51,675		49,541
Repo		92,706		66,585
	$	3,321,329	$	2,941,915

Schedule of fair values of financial assets and liabilities

	As of September 30, 2024
Financial Instrument	(In thousands)
	Carrying		Fair Value Measurements Using:
	Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	8,071	$	8,071	$	–	$	–	$	8,071
Restricted cash and equivalents		270,981		270,981		–		–		270,981
Finance receivables, net		7,788		–		–		6,201		6,201
Accrued interest receivable		91		–		–		91		91
Liabilities:
Warehouse lines of credit	$	105,783	$	–	$	–	$	105,783	$	105,783
Residual interest financing		99,127						99,127		99,127
Accrued interest payable		9,589		–		–		9,589		9,589
Securitization trust debt		2,875,777		–		–		2,897,538		2,897,538
Subordinated renewable notes		24,288		–		–		24,288		24,288

	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