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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value | The following table summarizes information about the assets and liabilities that are measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024:
|  | September 30, 2025
|  | Carrying Value |  | Fair value
|  |  | Level 1 |  | Level 2 |  | Level 3(A) |  | Total
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,097,123 |  |  | $ | 1,097,123 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,097,123 |
Restricted cash |  | 64,590 |  |  | 64,590 |  |  | — |  |  | — |  |  | 64,590 |
Digital assets(B) |  | 108,680 |  |  | 110,185 |  |  | — |  |  | — |  |  | 110,185 |
Distressed asset claims(C) |  | 3,068 |  |  | — |  |  | — |  |  | 3,068 |  |  | 3,068 |
Marketable securities, at fair value(D) |  | 239,694 |  |  | — |  |  | 201,386 |  |  | 38,308 |  |  | 239,694 |
Loans held for sale, at fair value |  | 389,032 |  |  | — |  |  | — |  |  | 389,032 |  |  | 389,032 |
Loan servicing assets, at fair value |  | 100,000 |  |  | — |  |  | — |  |  | 100,000 |  |  | 100,000 |
Treasury note futures |  | 11 |  |  | 11 |  |  | — |  |  | — |  |  | 11 |
Total assets |  | $ | 2,002,198 |  |  | $ | 1,271,909 |  |  | $ | 201,386 |  |  | $ | 530,408 |  |  | $ | 2,003,703 |
Liabilities |  |  |  |  |  |  |  |  |  |
Digital asset collateral repayment obligation(E) |  | $ | 85,016 |  |  | $ | 85,016 |  |  | $ | — |  |  | $ | — |  |  | $ | 85,016 |
Certificate repayment obligation(E) |  | 18,962 |  |  | — |  |  | 18,962 |  |  | — |  |  | 18,962 |
Total liabilities |  | $ | 103,978 |  |  | $ | 85,016 |  |  | $ | 18,962 |  |  | $ | — |  |  | $ | 103,978 |
|  | December 31, 2024
|  | Carrying Value |  | Fair value
|  |  | Level 1 |  | Level 2 |  | Level 3(A) |  | Total
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 287,256 |  |  | $ | 287,256 |  |  | $ | — |  |  | $ | — |  |  | $ | 287,256 |
Restricted cash |  | 57,777 |  |  | 57,777 |  |  | — |  |  | — |  |  | 57,777 |
Digital assets(B) |  | 86,036 |  |  | 86,036 |  |  | — |  |  | — |  |  | 86,036 |
Distressed asset claims(C) |  | 7,589 |  |  | — |  |  | — |  |  | 7,589 |  |  | 7,589 |
Marketable securities, at fair value(D) |  | 163,489 |  |  | — |  |  | 128,983 |  |  | 34,506 |  |  | 163,489 |
Loans held for sale, at fair value |  | 395,922 |  |  | — |  |  | — |  |  | 395,922 |  |  | 395,922 |
Loan servicing assets, at fair value |  | 88,497 |  |  | — |  |  | — |  |  | 88,497 |  |  | 88,497 |
Total assets |  | $ | 1,086,566 |  |  | $ | 431,069 |  |  | $ | 128,983 |  |  | $ | 526,514 |  |  | $ | 1,086,566 |
Liabilities |  |  |  |  |  |  |  |  |  |
Digital asset collateral repayment obligation(E) |  | $ | 64,447 |  |  | $ | 64,447 |  |  | $ | — |  |  | $ | — |  |  | $ | 64,447 |
Total liabilities |  | $ | 64,447 |  |  | $ | 64,447 |  |  | $ | — |  |  | $ | — |  |  | $ | 64,447 |
__________________ (A)See Notes 4 and 5 regarding changes in the carrying values of servicing assets and loans, respectively. There were no transfers of Level 3 instruments to, or from, other fair value levels during the periods presented. (B)Included in “Digital assets” in the Condensed Consolidated Balance Sheets and represents digital assets held for sale at fair value, and excludes digital assets held at cost that are considered intangible assets. (C)Included in “Other current assets” in the Condensed Consolidated Balance Sheets. (D)Residual interest securities and non-rated securities in securitizations not considered debt securities are included within Level 3 of the fair value hierarchy. (E)Included in “Debt, current” in the Condensed Consolidated Balance Sheets. The following table summarizes information about the liabilities that are not measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024:
|  | September 30, 2025
|  | Carrying Value |  | Fair Value
|  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Liabilities |  |  |  |  |  |  |  |  |  |
Financed Retained Interests(A) |  | $ | 199,129 |  |  | $ | — |  |  | $ | 198,444 |  |  | $ | — |  |  | $ | 198,444 |
Total liabilities |  | $ | 199,129 |  |  | $ | — |  |  | $ | 198,444 |  |  | $ | — |  |  | $ | 198,444 |
|  | December 31, 2024
|  | Carrying Value |  | Fair Value
|  |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Liabilities |  |  |  |  |  |  |  |  |  |
Financed Retained Interests(A) |  | $ | 128,101 |  |  | $ | — |  |  | $ | 127,327 |  |  | $ | — |  |  | $ | 127,327 |
Total liabilities |  | $ | 128,101 |  |  | $ | — |  |  | $ | 127,327 |  |  | $ | — |  |  | $ | 127,327 |
__________________ (A)Financed retained interests classified as Level 2 in the fair value hierarchy were valued with a discounted cash flow model using collateral contractual terms and discount rates of similar instruments that include default and prepayment expectations as observable inputs. The following table summarizes information about the assets and liabilities that are measured at fair value on a recurring basis at December 31, 2024 and 2023:
|  |  | December 31, 2024
|  |  | Carrying Value |  | Fair Value
|  |  | Level 1 |  | Level 2 |  | Level 3(A) |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | $ | 287,256 |  |  | $ | 287,256 |  |  | $ | — |  |  | $ | — |  |  | $ | 287,256 |
Restricted cash |  |  | 57,777 |  |  | 57,777 |  |  | — |  |  | — |  |  | 57,777 |
Digital assets(B) |  |  | 86,036 |  |  | 86,036 |  |  | — |  |  | — |  |  | 86,036 |
Distressed asset claims(C) |  |  | 7,589 |  |  | — |  |  | — |  |  | 7,589 |  |  | 7,589 |
Marketable securities, at fair value(D) |  |  | 163,489 |  |  | — |  |  | 128,983 |  |  | 34,506 |  |  | 163,489 |
Loans held for sale, at fair value |  |  | 395,922 |  |  | — |  |  | — |  |  | 395,922 |  |  | 395,922 |
Loan servicing assets, at fair value |  |  | 88,497 |  |  | — |  |  | — |  |  | 88,497 |  |  | 88,497 |
Total assets |  |  | $ | 1,086,565 |  |  | $ | 431,069 |  |  | $ | 128,983 |  |  | $ | 526,514 |  |  | $ | 1,086,565 |
Liabilities |  |  |  |  |  |  |  |  |  |  |
Digital asset collateral repayment obligation(E) |  |  | $ | 64,447 |  |  | $ | 64,447 |  |  | $ | — |  |  | $ | — |  |  | $ | 64,447 |
Total liabilities |  |  | $ | 64,447 |  |  | $ | 64,447 |  |  | $ | — |  |  | $ | — |  |  | $ | 64,447 |
|  |  | December 31, 2023
|  |  | Carrying Value |  | Fair Value
|  |  |  | Level 1 |  | Level 2 |  | Level 3(A) |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | $ | 116,548 |  |  | $ | 116,548 |  |  | $ | — |  |  | $ | — |  |  | $ | 116,548 |
Restricted cash |  |  | 59,232 |  |  | 59,232 |  |  | — |  |  | — |  |  | 59,232 |
Digital assets |  |  | 5,865 |  |  | 5,865 |  |  | — |  |  | — |  |  | 5,865 |
Marketable securities, at fair value(D) |  |  | 37,066 |  |  | — |  |  | 24,318 |  |  | 12,748 |  |  | 37,066 |
Loans held for sale, at fair value |  |  | 255,516 |  |  | — |  |  | — |  |  | 255,516 |  |  | 255,516 |
Loan held for investment, at fair value |  |  | 61,337 |  |  | — |  |  | — |  |  | 61,337 |  |  | 61,337 |
Loan servicing assets, at fair value |  |  | 55,860 |  |  | — |  |  | — |  |  | 55,860 |  |  | 55,860 |
Total assets |  |  | $ | 591,424 |  |  | $ | 181,645 |  |  | $ | 24,318 |  |  | $ | 385,461 |  |  | $ | 591,424 |
__________________ (A)See Notes 4 and 5 regarding changes in the carrying values of servicing assets and loans, respectively. There were no transfers of Level 3 instruments to, or from, other fair value levels during the periods presented. (B)Included in Digital Assets on the Consolidated Balance Sheets and represents digital assets held for sale at fair value and excludes digital assets held at cost that are considered intangible assets. (C)Included in Other Assets on the Consolidated Balance Sheets. (D)Residual interest securities and non-rated securities in securitization not considered debt securities are included within Level 3 of the fair value hierarchy. (E)Included in Other Liabilities on the Consolidated Balance Sheets. The following table summarizes information about the liabilities that are not measured at fair value on a recurring basis at December 31, 2024 and 2023:
| December 31, 2024
| Carrying Value |  | Fair Value
|  | Level 1 |  | Level 2(A) |  | Level 3 |  | Total
Liabilities |  |  |  |  |  |  |  |  |
Financed Retained Interests | $ | 128,101 |  |  | $ | — |  |  | $ | 127,327 |  |  | $ | — |  |  | $ | 127,327 |
Total liabilities | $ | 128,101 |  |  | $ | — |  |  | $ | 127,327 |  |  | $ | — |  |  | $ | 127,327 |
| December 31, 2023
| Carrying Value |  | Fair Value
|  | Level 1 |  | Level 2(A) |  | Level 3 |  | Total
Liabilities |  |  |  |  |  |  |  |  |
Financed Retained Interests | $ | 25,048 |  |  | $ | — |  |  | $ | 24,667 |  |  | $ | — |  |  | $ | 24,667 |
Total liabilities | $ | 25,048 |  |  | $ | — |  |  | $ | 24,667 |  |  | $ | — |  |  | $ | 24,667 |
__________________ (A)The fair value of financed retained interests was classified as Level 2 and valued using a discounted cash flow model, with key inputs relating to the underlying contractual coupons, terms, discount rate and expectations for defaults and prepayments.
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table summarizes activities involving the Company’s marketable securities that are measured at fair value and classified within Level 3 of the fair value hierarchy for the nine months ended September 30, 2025 and 2024:
Balance at December 31, 2023 |  | $ | 11,952 |
Purchases(A) |  | 16,527 |
Sales |  | (872) |
Principal payments |  | (1,002) |
Change in fair value(B) |  | 870 |
Balance at September 30, 2024 |  | 27,475 |
Balance at December 31, 2024 |  | 34,506 |
Purchases(A) |  | 12,333 |
Principal payments |  | (9,430) |
Change in fair value(B) |  | 897 |
Balance at September 30, 2025 |  | $ | 38,306 |
__________________ (A)Includes premiums paid on the purchased notes. (B)Included in “Gain on sale of loans, net” in the Condensed Consolidated Statements of Operations. The following table summarizes activities involving the Company’s marketable securities that are measured at fair value and classified within Level 3 of the fair value hierarchy for the years ended December 31, 2024 and 2023:
Balance at December 31, 2022 | $ | — |
Purchases(A) | 16,177 |
Sales | (602) |
Principal payments | (1,576) |
Change in fair value(B) | (2,047) |
Balance at December 31, 2023 | 11,952 |
Purchases(A) | 24,440 |
Sales | (872) |
Principal payments | (2,184) |
Change in fair value(B) | 1,170 |
Balance at December 31, 2024 | $ | 34,506 |
__________________ (A)Includes premiums paid on the purchased notes. (B)Included in Gain on sale of loans, net in the Consolidated Statements of Operations.
Schedule of Fair Value Measurement Inputs and Valuation Techniques | The Company used the following unobservable inputs that it considers significant to value the financial assets and liabilities carried at fair value and classified within Level 3 of the fair value hierarchy:
|  | September 30, 2025
|  | Fair Value |  | Discount Rate (A) (%) |  | CPR (B) (%) |  | CDR (C) (%) |  | Servicing Rate (D) (%) |  | Loss Severity (E)
Marketable Securities |  |  |  |  |  |  |  |  |  |  |  |
Residual interest securities |  | $ | 38,308 |  |  | 11.5% - 24.6% 18.3% |  | 16.2% - 20.8% 18.8% |  | —% - 2.4% 1.2% |  | n.a |  | n.a
Servicing Assets |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | $ | 98,120 |  |  | 13.0% - 13.0% 13.0% |  | —% - 32.5% 13.7% |  | —% - 4.9% 0.8% |  | 0.3% |  | n.a
Mortgage loans |  | 1,880 |  |  | 9.5% - 10.5% 10.3% |  | 3.6% - 8.0% 5.3% |  | —% - 1.1% 0.4% |  | —% |  | n.a
Total / Weighted average(F) |  | $ | 100,000 |  |  | 12.9% |  | 13.5% |  | 0.7% |  | 0.3% |  |
Loans Held for Sale |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans(G) |  | $ | 323,184 |  |  | 4.9% - 8.9% 6.5% |  | 2.6% - 39.6% 15.6% |  | —% - 94.3% 1.6% |  | n.a |  | —% - 97.6% 28.4%
Personal loans(H) |  | 62,935 |  |  | 8.9% - 11.5% 10.2% |  | —% - —% —% |  | —% - —% —% |  | n.a |  | —% - —% —%
Other(I) |  | 2,913 |  |  | 6.2% - 8.7% 7.1% |  | 18.0% - 40.4% 24.7% |  | 1.3% - 8.7% 6.1% |  | n.a |  | 88.0% - 92.0% 90.0%
Total / Weighted average(F) |  | $ | 389,032 |  |  | 5.5% |  | 13.1% |  | 1.4% |  |  |  |
|  | December 31, 2024
|  | Fair Value |  | Discount Rate(A) (%) |  | CPR(B) (%) |  | CDR(C) (%) |  | Servicing Rate(D) (%) |  | Loss Severity(E)
Marketable Securities |  |  |  |  |  |  |  |  |  |  |  |
Residual interest securities |  | $ | 34,506 |  |  | 14.5% - 24.0% 19.7% |  | 15.2% - 20.1% 17.7% |  | 1.5% - 1.7% 1.6% |  | n.a |  | n.a
Servicing Assets |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | $ | 86,465 |  |  | 13.0% - 13.0% 13.0% |  | 1.0% - 33.0% 14.4% |  | —% - 4.4% 0.7% |  | 0.2% |  | n.a
Mortgage loans |  | 2,032 |  |  | 10.0% - 11.0% 10.8% |  | 3.9% - 8.2% 5.7% |  | —% - 1.0% 0.2% |  | —% |  | n.a
Total / Weighted average(F) |  | $ | 88,497 |  |  | 12.9% |  | 14.2% |  | 0.7% |  | 0.2% |  |
Loans Held for Sale |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans(G) |  | $ | 366,154 |  |  | 6.4% - 10.1% 7.6% |  | 1.3% - 32.4% 13.6% |  | 1.5% - 1.7% 1.6% |  | n.a |  | 16.6% - 44.2% 32.4%
Other(I) |  | 3,829 |  |  | 5.1% - 8.7% 6.9% |  | 17.9% - 99.7% 25.6% |  | 0.4% - 10.2% 7.7% |  | n.a |  | 88.0% - 92.0% 90.0%
Total / Weighted average(F) |  | $ | 369,983 |  |  | 7.6% |  | 13.7% |  | 1.7% |  |  |  |
__________________ (A)Significant increases (decreases) in the discount rate, in isolation, would result in a significantly lower (higher) fair value measurement. (B)Significant increases (decreases) in the CPR, in isolation, would result in a significantly lower (higher) fair value measurement. (C)Significant increases (decreases) in the CDR, in isolation, would result in a significantly lower (higher) fair value measurement. (D)Significant increases (decreases) in the servicing rate in excess of servicing costs, in isolation, would result in a significantly higher (lower) fair value measurement. Values represent the weighted average total mortgage servicing amount, net of subservicing costs. (E)Significant increases (decreases) in the severity, in isolation, would result in a significantly lower (higher) fair value measurement. (F)Unobservable inputs were weighted by respective fair value of each class. (G)HELOC loans are measured at estimated fair value using a discounted cash flow valuation methodology, more specifically a residential mortgage cash flow model. (H)Personal loans are measured at estimated fair value using a discounted cash flow valuation methodology, more specifically a loan cash flow model. (I)Personal unsecured loans included in “Other” are measured at estimated fair value using a discounted cash flow valuation methodology, more specifically a loan cash flow model. The Company uses an estimated recovery from collections and recent sales to fair value personal loans that are 30 days past due; the fair value of such loans at September 30, 2025 and December 31, 2024 were not material. The following tables summarize the estimated change in fair value of assets carried at fair value and classified within Level 3 of the fair value hierarchy for the unobservable inputs in “—Significant Valuation Inputs” at September 30, 2025. Each of the following sensitivity analyses is hypothetical and is provided for illustrative purposes only. There are certain limitations inherent in the sensitivity analyses presented. In particular, the results are calculated by stressing a particular economic assumption independent of changes in any other assumption; in practice, changes in one factor may result in changes in another, which might counteract or amplify the sensitivities. Also, changes in the fair value based on the following variations in an assumption generally may not be extrapolated because the relationship of the change in the assumption to the change in fair value may not be linear.
|  | -2% |  | -1% |  | +1% |  | +2%
|  | $ | % |  | $ | % |  | $ | % |  | $ | %
Discount Rate |  |  |  |  |  |  |  |  |  |  |  |
Marketable Securities |  |  |  |  |  |  |  |  |  |  |  |
Residual interest securities |  | $ | 780 |  | 3.9 | % |  | $ | 380 |  | 1.9 | % |  | $ | (360) |  | (1.8) | % |  | $ | (703) |  | (3.5) | %
Servicing Assets |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | 5,920 |  | 6.2 |  |  | 2,874 |  | 3.0 |  |  | (2,702) |  | (2.8) |  |  | (5,261) |  | (5.5) |
Mortgage loans |  | 238 |  | 12.6 |  |  | 114 |  | 6.1 |  |  | (105) |  | (5.6) |  |  | (202) |  | (10.8) |
Loans Held for Sale |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | 16,052 |  | 3.4 |  |  | 10,890 |  | 2.3 |  |  | (14,240) |  | (3.0) |  |  | (29,376) |  | (6.2) |
Personal loans |  | 62,297 |  | 0.7 |  |  | 62,155 |  | 0.5 |  |  | (61,446) |  | (0.7) |  |  | (61,042) |  | (1.3) |
|  | -20% |  | -10% |  | +10% |  | +20%
|  | $ | % |  | $ | % |  | $ | % |  | $ | %
CPR |  |  |  |  |  |  |  |  |  |  |  |
Marketable Securities |  |  |  |  |  |  |  |  |  |  |  |
Residual interest securities |  | $ | 1,001 |  | 5.0 | % |  | $ | 513 |  | 2.6 | % |  | $ | (464) |  | (2.3) | % |  | $ | (884) |  | (4.4) | %
Servicing Assets |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | 6,044 |  | 6.3 |  |  | 2,922 |  | 3.1 |  |  | (2,740) |  | (2.9) |  |  | (5,309) |  | (5.6) |
Mortgage loans |  | 125 |  | 6.7 |  |  | 61 |  | 3.3 |  |  | (59) |  | (3.1) |  |  | (115) |  | (6.1) |
Loans Held for Sale |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | 815 |  | 0.2 |  |  | 488 |  | 0.1 |  |  | (544) |  | (0.1) |  |  | (1,245) |  | (0.3) |
Personal loans |  | — |  | — |  |  | — |  | — |  |  | — |  | — |  |  | — |  | — |
CDR |  |  |  |  |  |  |  |  |  |  |  |
Marketable Securities |  |  |  |  |  |  |  |  |  |  |  |
Residual interest securities |  | 274 |  | 1.4 |  |  | 136 |  | 0.7 |  |  | (135) |  | (0.7) |  |  | (269) |  | (1.4) |
Servicing Assets |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | — |  | — |  |  | — |  | — |  |  | — |  | — |  |  | — |  | — |
Loans Held for Sale |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | 1,599 |  | 0.3 |  |  | 807 |  | 0.2 |  |  | (819) |  | (0.2) |  |  | (1,628) |  | (0.4) |
Personal loans |  | — |  | — |  |  | — |  | — |  |  | — |  | — |  |  | — |  | — |
Servicing Rate |  |  |  |  |  |  |  |  |  |  |  |
Servicing Assets |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans |  | 8,002 |  | 8.4 |  |  | 4,001 |  | 4.2 |  |  | (4,001) |  | (4.2) |  |  | (8,002) |  | (8.4) |
The Company used the following unobservable inputs that it considers significant to value the financial assets and liabilities carried at fair value and classified within Level 3 of the fair value hierarchy:
| December 31, 2024
| Fair Value |  | Discount Rate(A) (%) |  |  |  | CPR(B) (%) |  | CDR(C) (%) |  | Servicing Rate(D) (%) |  | Loss Severity(E)
Marketable Securities |  |  |  |  |  |  |  |  |  |  |  |  |
Residual interest securities | $ | 34,506 |  |  | 14.5% - 24.0% 19.7% |  |  |  | 15.2% - 20.1% 17.7% |  | 1.5% - 1.7% 1.6% |  | n.a. |  | n.a.
Servicing Assets |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans | $ | 86,465 |  |  | 13.0% - 13.0% 13.0% |  |  |  | 1.0% - 33.0% 14.4% |  | —% - 4.4% 0.7% |  | 0.2% |  | n.a.
Mortgage loans | 2,032 |  |  | 10.0% - 11.0% 10.8% |  |  |  | 3.9% - 8.2% 5.7% |  | —% - 1.0% 0.2% |  | n.m. |  | n.a.
Total / Weighted average(F) | $ | 88,497 |  |  | 12.9% |  |  |  | 14.2% |  | 0.7% |  | 0.2% |  | n.a.
Loans Held for Sale(G) |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans | $ | 366,154 |  |  | 6.4% - 10.1% 7.6% |  |  |  | 1.3% - 32.4% 13.6% |  | 1.5% - 1.7% 1.6% |  | n.a. |  | 16.6% - 44.2% 32.4%
Other | 3,829 |  |  | 5.1% - 8.7% 6.9% |  |  |  | 17.9% - 99.7% 25.6% |  | 0.4% - 10.2% 7.7% |  | n.a. |  | 88.0% - 92.0% 90.0%
Total / Weighted average(F) | $ | 369,983 |  |  | 7.6% |  |  |  | 13.7% |  | 1.7% |  | — |  |
| December 31, 2023
| Fair Value |  | Discount Rate(A) (%) |  |  |  | CPR(B) (%) |  | CDR(C) (%) |  | Servicing Rate(D) (%) |  | Loss Severity(E)
Marketable Securities |  |  |  |  |  |  |  |  |  |  |  |  |
Residual interest securities | $ | 11,952 |  |  | 21.0% - 21.3% 21.2% |  |  |  | 13.6%- 30.0% 16.7% |  | 0.5% - 48.9% 1.3% |  | n.a. |  | n.a.
Servicing Assets |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans | $ | 53,645 |  |  | 12.0% - 14.0% 13.0% |  |  |  | 10.0% - 19.4% 14.6% |  | 0.3% - 2.3% 1.1% |  | 0.1% |  | n.a.
Mortgage loans | 2,215 |  |  | 9.0% - 11.0% 10.0% |  |  |  | 4.2% - 7.4% 5.0% |  | 0.1% - 0.5% 0.2% |  | n.m. |  | n.a.
Total / Weighted average(F) | $ | 55,860 |  |  | 12.9% |  |  |  | 14.2% |  | 1.1% |  | 0.1% |  | n.a.
Loans Held for Sale(G) |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans | $ | 244,670 |  |  | 7.6% - 17.7% 10.6% |  |  |  | 0.4% - 21.0% 16.0% |  | 0.5% - 48.9% 1.3% |  | n.a. |  | 39.6% - 58.1% 48.4%
Other | 10,846 |  |  | 6.5% - 10.1% 8.2% |  |  |  | 13.8% - 45.6% 23.5% |  | 1.4% - 11.2% 7.4% |  | n.a. |  | 88.0% - 92.0% 90.0%
Total / Weighted average(F) | $ | 255,516 |  |  | 10.5% |  |  |  | 16.3% |  | 1.6% |  | n.a. |  | 50.2
Loans Held for Investment |  |  |  |  |  |  |  |  |  |  |  |  |
HELOC loans | $ | 61,337 |  |  | 7.7% - 19.5% 10.9% |  |  |  | 0.3% - 19.0% 14.0% |  | 0.2% - 63.7% 1.6% |  | n.a. |  | 37.6% - 60.0% 67.0%
__________________ (A)Significant increases (decreases) in the discount rate, in isolation, would result in a significantly lower (higher) fair value measurement. (B)Significant increases (decreases) in the CPR, in isolation, would result in a significantly higher (lower) fair value measurement for residual interest securities and loans held for sale or investment, while the inverse is true for servicing assets. (C)Significant increases (decreases) in the CDR, in isolation, would result in a significantly lower (higher) fair value measurement. (D)Significant increases (decreases) in the servicing rate in excess of servicing costs, in isolation, would result in a significantly higher (lower) fair value measurement. Weighted average total mortgage servicing amount, net of subservicing costs. (E)Significant increases (decreases) in the severity, in isolation, would result in a significantly lower (higher) fair value measurement. (F)Unobservable inputs were weighted by respective fair value of each class. (G)HELOC loans are measured at estimated fair value using a discounted cash flow valuation methodology, more specifically a residential mortgage cash flow model. Personal loans are measured at estimated fair value using a discounted cash flow valuation methodology, more specifically a loan cash flow model. The Company uses an estimated recovery from collections and recent sales to fair value personal loans that are thirty days past due; the fair value of such loans at December 31, 2024 and 2023 are not material. The following tables summarize the estimated change in fair value of assets carried at fair value and classified within Level 3 of the fair value hierarchy for the unobservable inputs in "— Significant Valuation Inputs" at December 31, 2024. Each of the following sensitivity analyses is hypothetical and is provided for illustrative purposes only. There are certain limitations inherent in the sensitivity analyses presented. In particular, the results are calculated by stressing a particular economic assumption independent of changes in any other assumption; in practice, changes in one factor may result in changes in another, which might counteract or amplify the sensitivities. Also, changes in the fair value based on the following variations in an assumption generally may not be extrapolated because the relationship of the change in the assumption to the change in fair value may not be linear.
| -2% |  | -1% |  | +1% |  | +2%
| $ | % |  | $ | % |  | $ | % |  | $ | %
Discount Rate |  |  |  |  |  |  |  |  |  |  |
Marketable Securities |  |  |  |  |  |  |  |  |  |  |
Residual interest securities | $ | 1,599 |  | 4.6 | % |  | $ | 699 |  | 2.0 | % |  | $ | (1,163) |  | (3.4) | % |  | $ | (2,124) |  | (6.2) | %
Servicing Assets |  |  |  |  |  |  |  |  |  |  |
HELOC loans | 5,510 |  | 6.3 |  |  | 2,668 |  | 3.0 |  |  | (2,514) |  | (2.9) |  |  | (4,880) |  | (5.5) |
Mortgage loans | 202 |  | 9.9 |  |  | 97 |  | 4.8 |  |  | (89) |  | (4.4) |  |  | (171) |  | (8.4) |
Loans Held for Sale(A) |  |  |  |  |  |  |  |  |  |  |
HELOC loans | 7,804 |  | 2.3 |  |  | 6,025 |  | 1.8 |  |  | (10,088) |  | (3.0) |  |  | (21,523) |  | (6.4) |
| -20% |  | -10% |  | +10% |  | +20%
| $ | % |  | $ | % |  | $ | % |  | $ | %
CPR |  |  |  |  |  |  |  |  |  |  |
Marketable Securities |  |  |  |  |  |  |  |  |  |  |
Residual interest securities | $ | (3,824) |  | (11.1) | % |  | $ | (2,065) |  | (6.0) | % |  | $ | 1,912 |  | 5.5 | % |  | $ | 4,160 |  | 12.1 | %
Servicing Assets |  |  |  |  |  |  |  |  |  |  |
HELOC loans | 5,642 |  | 6.4 |  |  | 2,721 |  | 3.1 |  |  | (2,540) |  | (2.9) |  |  | (4,924) |  | (5.6) |
Mortgage loans | 114 |  | 5.6 |  |  | 56 |  | 2.7 |  |  | (53) |  | (2.6) |  |  | (105) |  | (5.1) |
Loans Held for Sale(A) |  |  |  |  |  |  |  |  |  |  |
HELOC loans | 616 |  | 0.2 |  |  | 336 |  | 0.1 |  |  | (351) |  | (0.1) |  |  | (732) |  | (0.2) |
CDR |  |  |  |  |  |  |  |  |  |  |
Marketable Securities |  |  |  |  |  |  |  |  |  |  |
Residual interest securities | 1,049 |  | 3.0 |  |  | 424 |  | 1.2 |  |  | (723) |  | (2.1) |  |  | (1,263) |  | (3.7) |
Loans Held for Sale(A) |  |  |  |  |  |  |  |  |  |  |
HELOC loans | 1,100 |  | 0.3 |  |  | 560 |  | 0.2 |  |  | (570) |  | (0.2) |  |  | (1,100) |  | (0.3) |
Servicing Rate |  |  |  |  |  |  |  |  |  |  |
Servicing Assets |  |  |  |  |  |  |  |  |  |  |
HELOC loans | 6,020 |  | 6.8 |  |  | 3,011 |  | 3.4 |  |  | (3,006) |  | (3.4) |  |  | (6,015) |  | (6.8) |
__________________ (A)Excludes non-HELOC loans as they are not considered material.

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