XML 49 R31.htm IDEA: XBRL DOCUMENT v3.22.2.2
Loans Held for Investment and Allowance for Credit Losses (Tables)
 12 Months Ended
Jun. 30, 2022
Receivables [Abstract]  
Schedule of Loans Held for Investment and Allowance for Credit Loss Loans held for investment consisted of the following (in thousands):
June 30, 2022June 30, 2021
Unpaid principal balance$2,516,733 $2,058,863 
Accrued interest receivable20,697 15,466 
Premiums on loans held for investment8,911 7,071 
Less: Discount due to loss on loan purchase commitment (1)
(20,692)(53,177)
Less: Discount due to loss on self-originated loans (1)
(20,443)— 
Less: Fair value adjustment on loans acquired through business combination(1,645)(5,903)
Total loans held for investment$2,503,561 $2,022,320 
(1) As of June 30, 2021, discount due to loss on self-originated loans, in the amount of $6.2 million, was included with discount due to loss on loan purchase commitment.
Schedule of Credit Quality by ITACs Score
The following table presents an analysis of the credit quality, by ITACs score, of the amortized cost basis by fiscal year of origination on loans held for investment and loans held for sale (in thousands) as of June 30, 2022:

Amortized Costs Basis by Fiscal Year of Origination
20222021202020192018PriorTotal
96+$1,218,104 $122,503 $33,458 $157 $1 $— $1,374,223 
94 – 96620,403 11,240 773 13 2 — 632,431 
90 – 94220,056 3,886 6 4 — — 223,952 
<9044,300 135 2 — — — 44,437 
No score(1)
186,044 20,554 3,368 444 79 2 210,491 
Total loan receivables$2,288,907 $158,318 $37,607 $618 $82 $2 $2,485,534 
(1)This balance represents loan receivables in new markets without sufficient data currently available for use by the Affirm scoring methodology including loan receivables originated in Canada and Australia.  

Net Charge-offs by Fiscal Year of Origination
20222021202020192018PriorTotal
Current period charge-offs(133,338)(89,960)(3,783)(548)(120)(21)(227,770)
Current period recoveries5,288 9,802 4,417 2,952 1,242 897 24,598 
Current period net charge-offs$(128,050)$(80,158)$634 $2,404 $1,122 $876 $(203,172)
Schedule of Delinquent Financing Receivables The following table presents an aging analysis of the amortized cost basis of loans held for investment and loans held for sale by delinquency status (in thousands):
June 30, 2022June 30, 2021
Non-delinquent loans$2,322,919 $1,939,976 
4 – 29 calendar days past due77,963 43,838 
30 – 59 calendar days past due34,669 17,267 
60 – 89 calendar days past due26,919 12,044 
90 – 119 calendar days past due (1)
23,064 6,759 
Total amortized cost basis$2,485,534 $2,019,884 
(1)Includes $22.7 million of loan receivables as of June 30, 2022 that are 90 days or more past due, but are not on nonaccrual status.
Schedule of Loans Held for Investment and Allowance for Credit Loss
The following table details activity in the allowance for credit losses (in thousands):
Year ended
June 30,
202220212020
Allowance at beginning of period117,760 95,137 66,260 
Adjustment due to adoption of new accounting standard— 10,083 — 
Provision for credit losses240,804 63,755 101,540 
Charge-offs(227,770)(65,149)(81,052)
Recoveries of charged-off receivables24,598 13,934 8,389 
Allowance at end of period155,392 117,760 95,137