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Securitizations and Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Financial Assets And Liabilities From Variable Interest Entities

The following tables present a summary of financial assets and liabilities from the Company’s involvement with consolidated VIEs:

			Assets						Liabilities						Net Assets
December 31, 2020
Warehouse Entities			$	71,530					$	35,109					$	36,421
Majority-owned Affiliates			17,219						7,187						10,032
Other Consolidated VIEs			16,243						—						16,243
Total Consolidated VIEs			$	104,992					$	42,296					$	62,696

			Assets						Liabilities						Net Assets
March 31, 2021
Warehouse Entities			$	47,329					$	16,394					$	30,935
Majority-owned Affiliates			14,678						5,105						9,573
Other Consolidated VIEs			24,716						—						24,716
Total Consolidated VIEs			$	86,723					$	21,499					$	65,224

The following tables summarize the aggregate carrying value of assets and liabilities of unconsolidated VIEs in which the Company holds a variable interest but is not the primary beneficiary:

			Assets						Liabilities						Net Assets						Maximum Exposure to Losses
December 31, 2020
Securitizations			$	484,604					$	390,252					$	94,352					$	24,434
Upstart Network Trust			39,754						39,754						—						1,707
Total Unconsolidated VIEs			$	524,358					$	430,006					$	94,352					$	26,141

			Assets						Liabilities						Net Assets						Maximum Exposure to Losses
March 31, 2021
Securitizations			$	407,667					$	315,994					$	91,673					$	21,893
Upstart Network Trust			31,427						31,427						—						1,355
Total Unconsolidated VIEs			$	439,094					$	347,421					$	91,673					$	23,248

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- References

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- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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