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Finance Receivables, Net
 6 Months Ended
Jun. 30, 2022
Receivables [Abstract]  
Finance Receivables, Net Finance Receivables, Net
Finance receivables, net consist of the following (in thousands):

As of June 30,As of
December 31,
202220212021
Finance receivables, gross$190,256 $— $220,329 
Fair value premium on non-PCD finance receivables (1)
13,003 — 40,251 
Non-credit discount on PCD finance receivables (2)
— — (3,521)
Merchant partner discounts and premiums, net(1,002)— (104)
Unearned origination fees(2,702)— (360)
Finance receivables, amortized cost199,555 — 256,595 
Less allowance for loan losses(73,936)— (75,574)
Finance receivables, net$125,619 $— $181,021 

(1)Represents the difference between the initial fair value and the unpaid principal balance as of the date of the AFF Acquisition, which is recognized through interest income on an effective yield basis over the lives of the related non-purchased credit deteriorated (“PCD”) finance receivables.

(2)Represents the difference between the unpaid principal balance and the amortized cost basis as of the date of the AFF Acquisition, which is recognized through interest income on an effective yield basis over the lives of the related PCD finance receivables.

Changes in the allowance for loan losses were as follows (in thousands):

Three Months EndedSix Months Ended
June 30,June 30,
 2022202120222021
Balance at beginning of period$72,332 $— $75,574 $— 
Provision for loan losses26,800 — 51,497 — 
Charge-offs(26,579)— (55,987)— 
Recoveries1,383 — 2,852 — 
Balance at end of period$73,936 $— $73,936 $— 

The following is an assessment of the credit quality indicators of the amortized cost of finance receivables as of June 30, 2022, by origination year (in thousands):

 202220212020Total
FICO score category (1):
No FICO score identified or obtained$31,642 $21,747 $382 $53,771 
599 or less34,524 27,245 2,107 63,876 
Between 600 and 69935,114 24,059 2,138 61,311 
700 or greater4,534 2,762 298 7,594 
Finance receivables before fair value adjustments$105,814 $75,813 $4,925 186,552 
Fair value premium on non-PCD finance receivables13,003 
Finance receivables, amortized cost$199,555 

(1)FICO score as determined at the time of origination.
The following is an aging of the amortized cost of finance receivables as of June 30, 2022, by origination year (in thousands):

202220212020Total
Delinquency:
1 to 30 days past due$8,919 $7,849 $478 $17,246 
31 to 60 days past due4,467 5,275 286 10,028 
61 to 90 days past due (1)
3,014 4,837 293 8,144 
Total past due finance receivables before fair value adjustments16,400 17,961 1,057 35,418 
Current finance receivables before fair value adjustments89,414 57,852 3,868 151,134 
Finance receivables before fair value adjustments$105,814 $75,813 $4,925 186,552 
Fair value premium on non-PCD finance receivables13,003 
Finance receivables, amortized cost$199,555 
(1)The Company charges off finance receivables when a receivable is 90 days or more contractually past due