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Notes and Accounts Receivable, net (Tables) | 3 Months Ended
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Mar. 31, 2021
Receivables [Abstract] |
Schedule of Notes and Accounts Receivable | The following table presents the Company’s investments in loans measured at fair value and the Company’s investments in loans measured at fair value pledged as collateral:
| As of March 31, 2021 |  | As of December 31, 2020
| Fair value |  | Unpaid principal balance (UPB) |  | Fair value exceeds / (below) UPB |  | Pledged as Collateral |  | Fair value |  | Unpaid principal balance (UPB) |  | Fair value exceeds / (below) UPB |  | Pledged as Collateral
Insurance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate loans (1) | $ | 10,832 |  |  | $ | 14,941 |  |  | $ | (4,109) |  |  | $ | — |  |  | $ | 7,795 |  |  | $ | 12,281 |  |  | $ | (4,486) |  |  | $ | — |
Mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans held for sale (2) | 99,626 |  |  | 97,043 |  |  | 2,583 |  |  | 97,499 |  |  | 82,937 |  |  | 78,590 |  |  | 4,347 |  |  | 81,630 |
Total loans, at fair value | $ | 110,458 |  |  | $ | 111,984 |  |  | $ | (1,526) |  |  | $ | 97,499 |  |  | $ | 90,732 |  |  | $ | 90,871 |  |  | $ | (139) |  |  | $ | 81,630 |
(1) The cost basis of Corporate loans was approximately $13,463 and $11,282 at March 31, 2021 and December 31, 2020, respectively. (2) As of March 31, 2021 and December 31, 2020, there were two mortgage loans held for sale that were 90 days or more past due, respectively, with a fair value of $334 and $534, respectively. The following table presents the total notes and accounts receivable, net:
| As of
| March 31, 2021 |  | December 31, 2020
Notes receivable, net - premium financing program | $ | 62,807 |  |  | $ | 62,075 |
Accounts and premiums receivable, net | 94,846 |  |  | 95,269 |
Retrospective commissions receivable | 135,494 |  |  | 131,760 |
Trust receivables | 27,910 |  |  | 54,393 |
Other receivables | 27,257 |  |  | 26,955 |
Total notes and accounts receivable, net | $ | 348,314 |  |  | $ | 370,452 |
The following table presents the total valuation allowance and bad debt expense for the following periods:
| Valuation allowance |  | Bad Debt Expense |  |
| As of March 31, 2021 |  | As of December 31, 2020 |  | Three Months Ended March 31, |  |
|  |  | 2021 |  | 2020 |  |  |  |  |  |
Notes receivable, net - premium financing program (1) | $ | 117 |  |  | $ | 101 |  |  | $ | 80 |  |  | $ | 49 |  |  |  |  |  |  |
Accounts and premiums receivable, net | $ | 227 |  |  | $ | 169 |  |  | $ | 4 |  |  | $ | 8 |  |  |  |  |  |  |
(1) As of March 31, 2021 and December 31, 2020, there were $237 and $215 in balances classified as 90 days plus past due, respectively.

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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