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10. Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2018     2017     2018     2017  
    (In thousands)     (In thousands)  
Balance at beginning of period   $ 412,895     $ –     $ –     $ –  
Finance receivables at fair value acquired during period     229,030       –       659,641       –  
Payments received on finance receivables at fair value     (18,851 )     –       (31,824 )     –  
Net interest income accretion on fair value receivables     (8,267 )     –       (13,010 )     –  
Mark to fair value     –       –       –       –  
Balance at end of period   $ 614,807     $ –     $ 614,807     $ –  
Schedule of finance receivables to their contractual balances

The table below compares the fair values of these finance receivables to their contractual balances for the periods shown:

 

    September 30, 2018     December 31, 2017  
    Contractual     Fair     Contractual     Fair  
    Balance     Value     Balance     Value  
    (In thousands)  
                                 
Finance receivables measured at fair value   $ 614,578     $ 614,807     $ –     $ –  
Schedule of level 3 fair value measurements
Financial Instrument   Fair Values as of         Inputs as of  
    September 30,     December 31,         September 30,   December 31,  
    2018     2017     Unobservable Inputs   2018   2017  
                     
Assets:                                
Finance receivables measured at fair value   $ 614,807     $ –     Discount rate   8.9% - 10.7%     n/a  
                    Cumulative net losses   15% - 16%     n/a  
Schedule of delinquency status of finance receivables measured at fair value

The following table summarizes the delinquency status of these finance receivables measured at fair value as of September 30, 2018 and December 31, 2017:

 

    September 30,     December 31,  
    2018     2017  
    (In thousands)  
Delinquency Status                
Current   $ 595,920     $ –  
31 - 60 days     12,812       –  
61 - 90 days     3,975       –  
91 + days     1,871       –  
    $ 614,578     $ –  
Schedule of estimated fair values of financial assets and liabilities

The estimated fair values of financial assets and liabilities at September 30, 2018 and December 31, 2017, were as follows:

 

    As of September 30, 2018  
Financial Instrument   (In thousands)  
    Carrying     Fair Value Measurements Using:        
    Value     Level 1     Level 2     Level 3     Total  
Assets:                              
Cash and cash equivalents   $ 10,537     $ 10,537     $ –     $ –     $ 10,537  
Restricted cash and equivalents     110,473       110,473       –       –       110,473  
Finance receivables, net     1,615,369       –       –       1,620,076       1,620,076  
Finance receivables measured at fair value     614,807       –       –       614,807       614,807  
Accrued interest receivable     36,232       –       –       36,232       36,232  
Liabilities:                                        
Warehouse lines of credit   $ 127,695     $ –     $ –     $ 127,695     $ 127,695  
Accrued interest payable     4,797       –       –       4,797       4,797  
Securitization trust debt     2,034,281       –       –       2,033,598       2,033,598  
Subordinated renewable notes     16,948       –       –       16,948       16,948  

        

 

    As of December 31, 2017  
Financial Instrument   (In thousands)  
    Carrying     Fair Value Measurements Using:        
    Value     Level 1     Level 2     Level 3     Total  
Assets:                              
Cash and cash equivalents   $ 12,731     $ 12,731     $ –     $ –     $ 12,731  
Restricted cash and equivalents     111,965       111,965       –       –       111,965  
Finance receivables, net     2,195,797       –       –       2,171,846       2,171,846  
Accrued interest receivable     46,753       –       –       46,753       46,753  
Liabilities:                                        
Warehouse lines of credit   $ 112,408     $ –     $ –     $ 112,408     $ 112,408  
Accrued interest payable     4,212       –       –       4,212       4,212  
Securitization trust debt     2,083,215       –       –       2,089,678       2,089,678  
Subordinated renewable notes     16,566       –       –       16,566       16,566