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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis

Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis
		Twelve Months Ended
		December 31,
		2024				2023
		(In thousands)
Balance at beginning of period		$	2,722,662			$	2,476,617
Finance receivables at fair value acquired during period			1,653,037				1,251,020
Payments received on finance receivables at fair value			(858,628	)			(823,434	)
Net interest income accretion on fair value receivables			(224,304	)			(193,541	)
Mark to fair value			21,000				12,000
Balance at end of period		$	3,313,767			$	2,722,662

Schedule of finance receivables to their contractual balances

Schedule of finance receivables to their contractual balances

December 31, 2024

December 31, 2023

Contractual

Fair

Contractual

Fair

Balance

Value

Balance

Value

(In thousands)

Finance receivables measured at fair value.

$

3,485,540

$

3,313,767

$

2,941,915

$

2,722,662

Schedule of level 3 fair value measurements

Schedule of level 3 fair value measurements
Financial Instrument		Fair Values as of												Weight Avg. Inputs as of
		December 31,												December 31,
		2024				2023				Unobservable Inputs				2024		2023
		(In thousands)
Assets:
										Discount rate				11.37%		11.35%
Finance receivables measured at fair value		$	3,313,767			$	2,722,662				Cumulative net losses			15.47%		15.25%

Schedule of delinquency status of finance receivables measured at fair value

Schedule of delinquency status of finance receivables measured at fair value
		December 31,				December 31,
		2024				2023
		(In thousands)
Delinquency Status
Current		$	2,969,864			$	2,520,158
31 - 60 days			241,883				204,574
61 - 90 days			113,662				101,057
91 + days			64,810				49,541
Repo			95,321				66,585
		$	3,485,540			$	2,941,915

Schedule of fair values of financial assets and liabilities

Schedule of fair values of financial assets and liabilities
		As of December 31, 2024
Financial Instrument		(In thousands)
		Carrying				Fair Value Measurements Using:
		Value				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	11,713			$	11,713			$	–			$	–			$	11,713
Restricted cash and equivalents			125,684				125,684				–				–				125,684
Finance receivables, net			4,987				–				–				3,996				3,996
Accrued interest receivable			65				–				–				65				65
Liabilities:
Warehouse lines of credit		$	410,898			$	–			$	–			$	410,898			$	410,898
Accrued interest payable			10,663				–				–				10,663				10,663
Securitization trust debt			2,594,384				–				–				2,614,352				2,614,352
Subordinated renewable notes			26,489				–				–				26,489				26,489

		As of December 31, 2023
Financial Instrument		(In thousands)
		Carrying				Fair Value Measurements Using:
		Value				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	6,174			$	6,174			$	–			$	–			$	6,174
Restricted cash and equivalents			119,257				119,257				–				–				119,257
Finance receivables, net			24,684				–				–				20,848				20,848
Accrued interest receivable			292				–				–				292				292
Liabilities:
Warehouse lines of credit		$	234,025			$	–			$	–			$	234,025			$	234,025
Accrued interest payable			7,928				–				–				7,928				7,928
Securitization trust debt			2,265,446				–				–				2,183,331				2,183,331
Subordinated renewable notes			17,188				–				–				17,188				17,188

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

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-Publisher FASB
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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

+ References

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-Name Accounting Standards Codification
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