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Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended
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Jun. 30, 2022
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Fair Value Measured 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 June 30, 2022 (in thousands):
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 162,483 |  |  | $ | — |  |  | $ | — |  |  | $ | 162,483 |
Certificates of deposit |  | — |  |  | 16,026 |  |  | — |  |  | 16,026 |
Commercial paper |  | — |  |  | 229,272 |  |  | — |  |  | 229,272 |
Government bonds - U.S. |  | — |  |  | 58,541 |  |  | — |  |  | 58,541 |
Restricted cash: |  |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |  |
Certificate of deposit |  | — |  |  | 300,390 |  |  | — |  |  | 300,390 |
Corporate bonds |  | — |  |  | 368,671 |  |  | — |  |  | 368,671 |
Commercial paper |  | — |  |  | 478,293 |  |  | — |  |  | 478,293 |
Government bonds: |  |  |  |  |  |  |  |
Non-U.S. |  | — |  |  | 17,955 |  |  | — |  |  | 17,955 |
U.S. |  | — |  |  | 378,386 |  |  | — |  |  | 378,386 |
Securitization notes receivable and residual trust certificates |  | — |  |  | — |  |  | 51,678 |  |  | 51,678 |
Total securities available for sale |  | — |  |  | 1,543,695 |  |  | 51,678 |  |  | 1,595,373 |
Servicing assets |  | — |  |  | — |  |  | 1,192 |  |  | 1,192 |
Derivative instruments |  | — |  |  | 49,983 |  |  | — |  |  | 49,983 |
Total assets |  | $ | 162,483 |  |  | $ | 1,897,517 |  |  | $ | 52,870 |  |  | $ | 2,112,870 |
Liabilities: |  |  |  |  |  |  |  |
Servicing liabilities |  | $ | — |  |  | $ | — |  |  | $ | 2,673 |  |  | $ | 2,673 |
Performance fee liability |  | — |  |  | — |  |  | 1,710 |  |  | 1,710 |
Residual trust certificates, held by third-parties |  | — |  |  | — |  |  | 377 |  |  | 377 |
Contingent consideration |  | — |  |  | — |  |  | 23,348 |  |  | 23,348 |
Profit share liability |  | — |  |  | — |  |  | 1,987 |  |  | 1,987 |
Total liabilities |  | $ | — |  |  | $ | — |  |  | $ | 30,095 |  |  | $ | 30,095 |
The following tables present information about our assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2021 (in thousands):
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 143,241 |  |  | $ | — |  |  | $ | — |  |  | $ | 143,241 |
Restricted cash: |  |  |  |  |  |  |  |
Securitization notes receivable and residual trust certificates |  | — |  |  | — |  |  | 16,170 |  |  | 16,170 |
Servicing assets |  | — |  |  | — |  |  | 2,349 |  |  | 2,349 |
Derivative instruments |  | — |  |  | 2,880 |  |  | — |  |  | 2,880 |
Total assets |  | $ | 143,241 |  |  | $ | 2,880 |  |  | $ | 18,519 |  |  | $ | 164,640 |
Liabilities: |  |  |  |  |  |  |  |
Servicing liabilities |  | $ | — |  |  | $ | — |  |  | $ | 3,961 |  |  | $ | 3,961 |
Performance fee liability |  | — |  |  | — |  |  | 1,290 |  |  | 1,290 |
Residual trust certificates, held by third-parties |  | — |  |  | — |  |  | 914 |  |  | 914 |
Contingent consideration |  | — |  |  | — |  |  | 153,447 |  |  | 153,447 |
Profit share liability |  | — |  |  | — |  |  | 2,464 |  |  | 2,464 |
Total liabilities |  | $ | — |  |  | $ | — |  |  | $ | 162,076 |  |  | $ | 162,076 |
Schedule of Servicing Assets at Fair Value | The following table summarizes the activity related to the aggregate fair value of our servicing assets during the years ended June 30, 2022 and June 30, 2021 (in thousands):
|  | Servicing Assets
|  | Year ended June 30,
|  | 2022 |  | 2021
Fair value at beginning of period |  | $ | 2,349 |  |  | $ | 2,132 |
Initial transfers of financial assets |  | 2,899 |  |  | 2,915 |
Subsequent changes in fair value |  | (4,056) |  |  | (2,698) |
Fair value at end of period |  | $ | 1,192 |  |  | $ | 2,349 |
Schedule of Servicing Liabilities at Fair Value | The following table summarizes the activity related to the aggregate fair value of our servicing liabilities during the years ended June 30, 2022 and June 30, 2021 (in thousands):
|  | Servicing Liabilities
|  | Year ended June 30,
|  | 2022 |  | 2021
Fair value at beginning of period |  | $ | 3,961 |  |  | $ | 1,540 |
Initial transfers of financial assets |  | 15,617 |  |  | 8,794 |
Subsequent changes in fair value |  | (16,905) |  |  | (6,373) |
Fair value at end of period |  | $ | 2,673 |  |  | $ | 3,961 |
Schedule of Significant Unobservable Inputs for Level 3 Fair Value Measurement | The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of servicing assets and liabilities as of June 30, 2022:
|  | Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Servicing assets |  | Discount rate |  | 30.00 | % |  | 30.00 | % |  | 30.00 | %
|  | Adequate compensation (1) |  | 0.78 | % |  | 1.85 | % |  | 1.10 | %
|  | Net default rate |  | 0.59 | % |  | 50.59 | % |  | 1.59 | %
Servicing liabilities |  | Discount rate |  | 30.00 | % |  | 30.00 | % |  | 30.00 | %
|  | Adequate compensation (1) |  | 2.13 | % |  | 2.34 | % |  | 2.21 | %
|  | Net default rate |  | 9.03 | % |  | 24.44 | % |  | 13.81 | %
(1)Estimated cost of servicing a loan as a percentage of unpaid principal balance The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of servicing assets and liabilities as of June 30, 2021:
|  | Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Servicing assets |  | Discount rate |  | 30.00 | % |  | 30.00 | % |  | 30.00 | %
|  | Adequate compensation(1) |  | 0.70 | % |  | 0.84 | % |  | 0.81 | %
|  | Net default rate |  | 0.53 | % |  | 0.95 | % |  | 0.64 | %
Servicing liabilities |  | Discount rate |  | 30.00 | % |  | 30.00 | % |  | 30.00 | %
|  | Adequate compensation(1) |  | 1.29 | % |  | 3.70 | % |  | 2.71 | %
|  | Net default rate |  | 0.80 | % |  | 8.42 | % |  | 7.12 | %
(1)Estimated cost of servicing a loan as a percentage of unpaid principal balance The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the performance fee liability as of June 30, 2022:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 10.00% |  | 10.00% |  | 10.00%
Refund rate |  | 4.50% |  | 4.50% |  | 4.50%
Default rate |  | 1.78% |  | 3.10% |  | 2.42%
Level 3 fair value measurement of the performance fee liability as of June 30, 2021:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 10.00% |  | 10.00% |  | 10.00%
Refund rate |  | 4.50% |  | 4.50% |  | 4.50%
Default rate |  | 1.78% |  | 2.83% |  | 1.80%
The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the residual trust certificates held by third-parties as of June 30, 2022 and June 30, 2021:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 10.00% |  | 10.00% |  | 10.00%
Loss rate |  | 0.75% |  | 0.75% |  | 0.75%
Prepayment rate |  | 8.00% |  | 8.00% |  | 8.00%
The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the residual trust certificates as of June 30, 2022:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 3.68% |  | 22.50% |  | 5.37%
Loss rate |  | 0.61% |  | 10.95% |  | 2.65%
Prepayment rate |  | 5.25% |  | 35.00% |  | 18.48%
The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the residual trust certificates as of June 30, 2021:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 11.46% |  | 11.46% |  | 11.46%
Loss rate |  | 0.61% |  | 0.61% |  | 0.61%
Prepayment rate |  | 10.50% |  | 10.50% |  | 10.50%
The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the contingent consideration as of June 30, 2022:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 15.00% |  | 15.00% |  | 15.00%
Equity volatility |  | 36.00% |  | 139.00% |  | 116.00%
Revenue volatility |  | 11.00% |  | 144.00% |  | 34.00%
Level 3 fair value measurement of the contingent consideration as of June 30, 2021:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 12.00% |  | 12.00% |  | 12.00%
Equity volatility |  | 37.00% |  | 97.00% |  | 62.00%
Revenue volatility |  | 8.00% |  | 98.00% |  | 37.00%
The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the profit sharing liability as of June 30, 2022:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 30.00% |  | 30.00% |  | 30.00%
Program profitability |  | 1.25% |  | 3.54% |  | 1.28%
The following table presents quantitative information about the significant unobservable inputs used for our Level 3 fair value measurement of the profit sharing liability as of June 30, 2021:
Unobservable Input |  | Minimum |  | Maximum |  | Weighted Average
Discount rate |  | 30.00% |  | 30.00% |  | 30.00%
Program profitability |  | 1.79% |  | 3.75% |  | 3.75%
Schedule of Sensitivity Analysis of Fair Value, Servicing Assets and Liabilities | The following table summarizes the effect that adverse changes in estimates would have on the fair value of the servicing assets and liabilities given hypothetical changes in significant unobservable inputs (in thousands):
|  | June 30, 2022 |  | June 30, 2021
Servicing assets |  |  |  |
Net default rate assumption: |  |  |  |
Net default rate increase of 25% |  | $ | 11 |  |  | $ | (7) |
Net default rate increase of 50% |  | $ | 22 |  |  | $ | (15) |
Adequate compensation assumption: |  |  |  |
Adequate compensation increase of 25% |  | $ | (3,513) |  |  | $ | (2,006) |
Adequate compensation increase of 50% |  | $ | (7,026) |  |  | $ | (4,011) |
Discount rate assumption: |  |  |  |
Discount rate increase of 25% |  | $ | (57) |  |  | $ | (4) |
Discount rate increase of 50% |  | $ | (109) |  |  | $ | (1) |
Servicing liabilities |  |  |  |
Net default rate assumption: |  |  |  |
Net default rate increase of 25% |  | $ | (10) |  |  | $ | (40) |
Net default rate increase of 50% |  | $ | (21) |  |  | $ | (61) |
Adequate compensation assumption: |  |  |  |
Adequate compensation increase of 25% |  | $ | 6,139 |  |  | $ | 3,060 |
Adequate compensation increase of 50% |  | $ | 12,278 |  |  | $ | 6,119 |
Discount rate assumption: |  |  |  |
Discount rate increase of 25% |  | $ | (50) |  |  | $ | (137) |
Discount rate increase of 50% |  | $ | (98) |  |  | $ | (263) |
Summary of Activity for Liabilities With Significant Unobservable Inputs for Fair Value | The following table summarizes the activity related to the fair value of the performance fee liability during the years ended June 30, 2022 and June 30, 2021 (in thousands):
|  | Performance Fee Liability
|  | Year ended June 30,
|  | 2022 |  | 2021
Fair value at beginning of period |  | $ | 1,290 |  |  | $ | 875 |
Purchases of loans |  | 1,764 |  |  | 1,372 |
Settlements Paid |  | (418) |  |  | — |
Subsequent changes in fair value |  | (926) |  |  | (957) |
Fair value at end of period |  | $ | 1,710 |  |  | $ | 1,290 |
The following table summarizes the activity related to the fair value of the residual trust certificates held by third-parties during the years ended June 30, 2022 and June 30, 2021 (in thousands):
|  | Year ended June 30,
|  | 2022 |  | 2021
Fair value at beginning of period |  | $ | 914 |  |  | $ | — |
Initial transfer of financial assets |  | — |  |  | 1,622 |
Repayments |  | (908) |  |  | (508) |
Subsequent changes in fair value |  | 371 |  |  | (200) |
Fair value at end of period |  | $ | 377 |  |  | $ | 914 |
The following table summarizes the activity related to the fair value of the notes receivable and residual trust certificates during the years ended June 30, 2022 and June 30, 2021 (in thousands):
|  | Year ended June 30,
|  | 2022 |  | 2021
Fair value at beginning of period |  | $ | 16,170 |  |  | $ | — |
Additions |  | 54,998 |  |  | 16,144 |
Cash received (due to payments or sales) |  | (19,559) |  |  | — |
Change in unrealized gain (loss) |  | (509) |  |  | 29 |
Accrued interest |  | 595 |  |  | — |
Reversal of (impairment on) securities available for sale |  | (17) |  |  | (3) |
Fair value at end of period |  | $ | 51,678 |  |  | $ | 16,170 |
The following table summarizes the activity related to the fair value of the PayBright contingent consideration during the years ended June 30, 2022 and June 30, 2021 (in thousands):
|  | Year ended June 30,
|  | 2022 |  | 2021
Fair value at beginning of period |  | $ | 153,447 |  |  | $ | — |
Subsequent changes in fair value |  | (89,313) |  |  | 150,135 |
Fair value of shares released from escrow |  | (32,110) |  |  | — |
Effect of foreign currency translation |  | (8,676) |  |  | 3,312 |
Fair value at end of period |  | $ | 23,348 |  |  | $ | 153,447 |
The following table summarizes the activity related to the fair value of the profit share liability during the years ended June 30, 2022 and June 30, 2021 (in thousands):
|  | Year ended June 30,
|  | 2022 |  | 2021
Fair value at beginning of period |  | $ | 2,464 |  |  | $ | — |
Facilitation of loans |  | 5,955 |  |  | 4,206 |
Actual performance |  | (7,642) |  |  | (1,661) |
Subsequent changes in fair value |  | 1,210 |  |  | (81) |
Fair value at end of period |  | $ | 1,987 |  |  | $ | 2,464 |
Schedule Sensitivity Analysis of Fair Value, Residual Trust Certificates | The following table summarizes the effect that adverse changes in estimates would have on the fair value of the securitization residual certificates held by third-party investor(s) given hypothetical changes in significant unobservable inputs (in thousands):
|  | June 30, 2022 |  | June 30, 2021
Discount rate assumption: |  |  |  |
Discount rate increase of 25% |  | $ | (6) |  |  | $ | (21) |
Discount rate increase of 50% |  | $ | (11) |  |  | $ | (42) |
Loss rate assumption: |  |  |  |
Loss rate increase of 25% |  | $ | (8) |  |  | $ | (28) |
Loss rate increase of 50% |  | $ | (16) |  |  | $ | (56) |
Prepayment rate assumption: |  |  |  |
Prepayment rate decrease of 25% |  | $ | (2) |  |  | $ | (10) |
Prepayment rate decrease of 50% |  | $ | (3) |  |  | $ | (20) |
The following table summarizes the effect that adverse changes in estimates would have on the fair value of the securitization residual trust certificates given hypothetical changes in significant unobservable inputs (in thousands):
|  | Year ended June 30,
|  | 2022 |  | 2021
Discount rate assumption: |  |  |  |
Discount rate increase of 25% |  | $ | (1,410) |  |  | $ | (22) |
Discount rate increase of 50% |  | $ | (2,295) |  |  | $ | (44) |
Loss rate assumption: |  |  |  |
Loss rate increase of 25% |  | $ | (729) |  |  | $ | (24) |
Loss rate increase of 50% |  | $ | (964) |  |  | $ | (48) |
Prepayment rate assumption: |  |  |  |
Prepayment rate decrease of 25% |  | $ | (545) |  |  | $ | (13) |
Prepayment rate decrease of 50% |  | $ | (519) |  |  | $ | (27) |
Fair Value Hierarchy for Financial Assets and Liabilities Not Recorded at Fair Value | The following table presents the fair value hierarchy for financial assets and liabilities not recorded at fair value as of June 30, 2022 (in thousands):
|  | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Balance at Fair Value
Assets: |  |  |  |  |  |  |  |  |  |
Loans held for sale |  | $ | 2,670 |  |  | $ | — |  |  | $ | 2,670 |  |  | $ | — |  |  | $ | 2,670 |
Loans held for investment, net |  | 2,348,169 |  |  | — |  |  | — |  |  | 2,412,871 |  |  | 2,412,871 |
Other assets |  | 12,661 |  |  | — |  |  | 12,661 |  |  | — |  |  | 12,661 |
Total assets |  | $ | 2,363,500 |  |  | $ | — |  |  | $ | 15,331 |  |  | $ | 2,412,871 |  |  | $ | 2,428,202 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Convertible senior notes, net (1) |  | $ | 1,706,668 |  |  | $ | — |  |  | $ | 984,285 |  |  | $ | — |  |  | $ | 984,285 |
Notes issued by securitization trusts |  | 1,627,580 |  |  | — |  |  | — |  |  | 1,529,401 |  |  | 1,529,401 |
Funding debt(2) |  | 683,395 |  |  | — |  |  | — |  |  | 683,388 |  |  | 683,388 |
Total liabilities |  | $ | 4,017,643 |  |  | $ | — |  |  | $ | 984,285 |  |  | $ | 2,212,789 |  |  | $ | 3,197,074 |
(1)The estimated fair value of the convertible senior notes is determined based on a market approach, using the estimated or actual bids and offers of the notes in an over-the-counter market on the last business day of the period. (2)As of June 30, 2022, debt issuance costs in the amount of $10.8 million, was included within funding debt. The following table presents the fair value hierarchy for financial assets and liabilities not recorded at fair value as of June 30, 2021 (in thousands):
|  | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Balance at Fair Value
Assets: |  |  |  |  |  |  |  |  |  |
Loans held for sale |  | $ | 13,030 |  |  | $ | — |  |  | $ | 13,030 |  |  | $ | — |  |  | $ | 13,030 |
Loans held for investment, net |  | 1,904,560 |  |  | — |  |  | — |  |  | 1,883,364 |  |  | 1,883,364 |
Accounts receivable, net |  | 91,575 |  |  | — |  |  | 91,575 |  |  | — |  |  | 91,575 |
Other assets |  | 171,250 |  |  | — |  |  | 171,250 |  |  | — |  |  | 171,250 |
Total assets |  | $ | 2,180,415 |  |  | $ | — |  |  | $ | 275,855 |  |  | $ | 1,883,364 |  |  | $ | 2,159,219 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 57,758 |  |  | $ | — |  |  | $ | 57,758 |  |  | $ | — |  |  | $ | 57,758 |
Payable to third-party loan owners |  | 50,079 |  |  | — |  |  | 50,079 |  |  | — |  |  | 50,079 |
Accrued interest payable |  | 2,751 |  |  | — |  |  | 2,751 |  |  | — |  |  | 2,751 |
Accrued expenses and other liabilities |  | 161,502 |  |  | — |  |  | 159,387 |  |  | 2,115 |  |  | 161,502 |
Notes issued by securitization trusts |  | 1,176,673 |  |  | — |  |  | — |  |  | 1,184,663 |  |  | 1,184,663 |
Funding debt |  | 689,356 |  |  | — |  |  | — |  |  | 689,356 |  |  | 689,356 |
Total liabilities |  | $ | 2,138,119 |  |  | $ | — |  |  | $ | 269,975 |  |  | $ | 1,876,134 |  |  | $ | 2,146,109 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of information about fair value of asset and liability not measured at fair value. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2E -URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498357-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of a sensitivity analysis or stress test showing the hypothetical effect on the fair value of the transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) of two or more unfavorable variations from the expected levels for each key assumption that is reported, independently determined from any change in another key assumption, and a description of the objectives, methodology, and limitations of the sensitivity analysis or stress test. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121570589&loc=d3e107314-111719 + Details
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- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 + Details
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- Definition Tabular disclosure of the activity in the balance of servicing liabilities subsequently measured at fair value (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (through assumptions of servicing obligations, and servicing obligations that result from transfers of financial assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value and a description of those changes, and other changes that affect the balance and a description of those changes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 + Details
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