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Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation
Share-based compensation expense related to stock options, RSUs and PSUs is presented within the following line items in the condensed consolidated statements of operations and comprehensive income (loss):
Three Months Ended March 31,
20232022
Technology and product development$18,228 $17,492 
Sales and marketing6,587 5,133 
Cost of operations1,500 4,143 
General and administrative37,911 50,253 
Total
$64,226 $77,021 
Schedule of Stock Option Activity The following is a summary of stock option activity:
Number of
Stock Options
Weighted Average
Exercise Price
Weighted Average
Remaining
Contractual Term
(in years)
Outstanding as of January 1, 202318,749,679 $7.43 4.7
Exercised(161,231)1.04 
Expired
(18,571)6.36 
Outstanding as of March 31, 202318,569,877 $7.49 4.4
Exercisable as of March 31, 202318,525,473 $7.49 4.4
Schedule of Restricted Stock Unit Activity
The following table summarizes RSU activity:
Number of
RSUs		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 202369,538,139 $9.07 
Granted
27,547,218 6.21 
Vested(1)
(6,737,174)9.16 
Forfeited
(4,208,806)9.31 
Outstanding as of March 31, 2023
86,139,377$8.13 
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(1)The total fair value, based on grant date fair value, of RSUs that vested during the three months ended March 31, 2023 was $61.7 million.
Schedule of Performance Stock Unit Activity The following table summarizes PSU activity:
Number of
PSUs		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 202319,563,747 $9.84 
Forfeited
(1,490,718)7.51 
Outstanding as of March 31, 2023
18,073,029 $10.03 
Schedule of Valuation Inputs for Compensation Costs Associated with PSUs
The following key unobservable assumptions were used in the fair value measurement of our loans:
March 31, 2023December 31, 2022
RangeWeighted AverageRangeWeighted Average
Personal loans
Conditional prepayment rate
14.0% – 24.2%
19.1%
17.3% – 25.5%
19.1%
Annual default rate
3.2% – 52.8%
4.6%
3.8% – 37.7%
4.4%
Discount rate
5.2% – 8.6%
5.5%
5.4% – 8.3%
6.1%
Student loans
Conditional prepayment rate
8.5% – 12.9%
10.4%
16.3% – 21.8%
20.4%
Annual default rate
0.2% – 4.3%
0.4%
0.2% – 4.5%
0.5%
Discount rate
3.7% – 8.1%
4.1%
3.6% – 8.7%
4.0%
Home loans
Conditional prepayment rate
2.1% – 13.4%
8.9%
2.0% – 10.2%
7.0%
Annual default rate
0.1% – 0.9%
0.1%
0.1% – 1.3%
0.1%
Discount rate
5.6% – 14.5%
6.0%
5.7% – 14.1%
5.9%
The following key unobservable inputs were used in the fair value measurement of our classes of servicing rights:
March 31, 2023December 31, 2022
RangeWeighted AverageRange
Weighted Average
Personal loans
Market servicing costs
0.2% – 0.6%
0.3%
0.2% – 0.5%
0.3%
Conditional prepayment rate
18.2% – 28.9%
22.8%
17.9% – 31.3%
22.7%
Annual default rate
3.5% – 17.5%
5.7%
3.4% – 7.9%
4.9%
Discount rate
7.8% – 7.8%
7.8%
7.8% – 7.8%
7.8%
Student loans
Market servicing costs
0.1% – 0.2%
0.1%
0.1% – 0.2%
0.1%
Conditional prepayment rate
9.1% – 15.3%
12.5%
15.4% – 21.9%
17.8%
Annual default rate
0.3% – 3.7%
0.5%
0.3% – 4.3%
0.4%
Discount rate
7.8% – 7.8%
7.8%
7.8% – 7.8%
7.8%
Home loans
Market servicing costs
0.1% – 0.1%
0.1%
0.1% – 0.1%
0.1%
Conditional prepayment rate
4.9% – 12.3%
5.5%
4.9% – 11.0%
5.2%
Annual default rate
0.1% – 0.2%
0.1%
0.1% – 0.1%
0.1%
Discount rate
9.0% – 9.0%
9.0%
9.0% – 9.0%
9.0%
The following key unobservable inputs were used in the fair value measurements of our residual investments and residual interests classified as debt:
March 31, 2023December 31, 2022
RangeWeighted AverageRange
Weighted Average
Residual investments
Conditional prepayment rate
12.7% – 25.2%
14.4%
17.9% – 32.0%
19.9%
Annual default rate
0.4% – 5.8%
1.1%
0.4% – 5.4%
1.1%
Discount rate
5.0% – 10.0%
6.9%
4.8% – 10.5%
6.7%
Residual interests classified as debt
Conditional prepayment rate
12.5% – 13.1%
12.6%
17.2% – 18.1%
17.8%
Annual default rate
0.6% – 0.8%
0.6%
0.6% – 0.8%
0.7%
Discount rate
7.8% – 7.8%
7.8%
7.5% – 7.5%
7.5%
The following key unobservable inputs were used in the fair value measurements of our IRLCs and student loan commitments:
March 31, 2023December 31, 2022
RangeWeighted AverageRange
Weighted Average
IRLCs
Loan funding probability(1)
2.6% – 58.5%
57.8%
11.1% – 58.6%
46.3%
Student loan commitments
Loan funding probability(1)
95.0% – 95.0%
95.0%
95.0% – 95.0%
95.0%
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(1)The aggregate amount of student loans we committed to fund was $4,842 as of March 31, 2023. See Note 11. Derivative Financial Instruments for the aggregate notional amount associated with IRLCs.