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13. Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis | The table below presents a reconciliation of the finance receivables measured at fair value on a recurring basis using significant unobservable inputs:
|  | Twelve Months Ended |
|  | December 31, |
|  | 2018 |  |  | 2017 |
|  | (In thousands) |
Balance at beginning of period |  | $ | – |  |  | $ | – |
Finance receivables at fair value acquired during period |  |  | 914,949 |  |  |  | – |
Payments received on finance receivables at fair value |  |  | (67,720 | ) |  |  | – |
Net interest income accretion on fair value receivables |  |  | (26,163 | ) |  |  | – |
Mark to fair value |  |  | – |  |  |  | – |
Balance at end of period |  | $ | 821,066 |  |  | $ | – |
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:
|  |  | December 31, 2018 |  |  |  | December 31, 2017 |
|  |  | Contractual |  |  |  | Fair |  |  |  | Contractual |  |  |  | Fair |
|  |  | Balance |  |  |  | Value |  |  |  | Balance |  |  |  | Value |
|  |  | (In thousands) |
Finance receivables measured at fair value |  | $ | 829,039 |  |  | $ | 821,066 |  |  | $ | – |  |  | $ | – |
Schedule of level 3 fair value measurements | The following table provides certain qualitative information about our level 3 fair value measurements:
Financial Instrument |  | Fair Values as of |  |  |  |  | Inputs as of |
|  | December 31, |  |  |  |  | December 31, |
|  | 2018 |  |  | 2017 |  |  | Unobservable Inputs |  | 2018 |  |  | 2017 |
|  | (In thousands) |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finance receivables measured at fair value |  | $ | 821,066 |  |  | $ | – |  |  | Discount rate |  |  | 8.9% - 9.9% |  |  |  | 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 using the contractual balance of these finance receivables measured at fair value as of December 31, 2018 and December 31, 2017:
|  | December 31, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
|  | (In thousands) |
Delinquency Status |  |  |  |  |  |  |  |
Current |  | $ | 790,727 |  |  | $ | – |
31 - 60 days |  |  | 26,285 |  |  |  | – |
61 - 90 days |  |  | 8,350 |  |  |  | – |
91 + days |  |  | 3,677 |  |  |  | – |
|  | $ | 829,039 |  |  | $ | – |
Schedule of estimated fair values of financial assets and liabilities | The estimated fair values of financial assets and liabilities at December 31, 2018 and 2017, were as follows:
|  | As of December 31, 2018 |
Financial Instrument |  | (In thousands) |
|  | Carrying |  |  | Fair Value Measurements Using: |  |  |  |
|  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 12,787 |  |  | $ | 12,787 |  |  | $ | – |  |  | $ | – |  |  | $ | 12,787 |
Restricted cash and equivalents |  |  | 117,323 |  |  |  | 117,323 |  |  |  | – |  |  |  | – |  |  |  | 117,323 |
Finance receivables, net |  |  | 1,454,709 |  |  |  | – |  |  |  | – |  |  |  | 1,434,631 |  |  |  | 1,434,631 |
Accrued interest receivable |  |  | 31,969 |  |  |  | – |  |  |  | – |  |  |  | 31,969 |  |  |  | 31,969 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warehouse lines of credit |  | $ | 136,847 |  |  | $ | – |  |  | $ | – |  |  | $ | 136,847 |  |  | $ | 136,847 |
Accrued interest payable |  |  | 4,819 |  |  |  | – |  |  |  | – |  |  |  | 4,819 |  |  |  | 4,819 |
Securitization trust debt |  |  | 2,063,627 |  |  |  | – |  |  |  | – |  |  |  | 2,051,920 |  |  |  | 2,051,920 |
Subordinated renewable notes |  |  | 17,290 |  |  |  | – |  |  | $ | – |  |  |  | 17,290 |  |  |  | 17,290 |
|  | 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 |

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