Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN CONSUMER LOANS - Schedule of Valuation and Allowance for Loan Losses (Details)

v3.5.0.2
INVESTMENTS IN CONSUMER LOANS - Schedule of Valuation and Allowance for Loan Losses (Details)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2016
USD ($)
Sep. 30, 2016
USD ($)
Sep. 30, 2016
USD ($)
Performing Loans [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Unpaid Principal Balance $ 92,600 $ 92,600 $ 92,600
Consumer Portfolio Segment [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Unpaid Principal Balance 3,600 3,600 3,600
Carrying value of TDR     2,500
Consumer Portfolio Segment [Member] | Performing Loans [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Beginning balance   0 [1]  
Beginning balance   0 [2]  
Beginning balance   0  
Provision for loan losses 900 [1] 32,421 1,886
Net charge-offs   (30,535) [3] (30,535)
Ending balance 847 [1] 847 [1] 847 [1]
Ending balance 1,039 [2] 1,039 [2] 1,039 [2]
Ending balance $ 1,886 1,886 1,886
Recovery of bad debts     $ 5,600
Consumer Portfolio Segment [Member] | Allowance for Losses on Finance Receivables, Collectively Evaluated [Member] | Performing Loans [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Provision for loan losses   31,382 [1]  
Net charge-offs   (30,535) [1],[3]  
Consumer Portfolio Segment [Member] | Allowance for Losses on Finance Receivables, Individually Impaired [Member] | Performing Loans [Member]      
Financing Receivable, Allowance for Credit Losses [Roll Forward]      
Provision for loan losses   1,039 [2]  
Net charge-offs   $ 0 [2],[3]  
[1] Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. Includes a provision for loan losses of $0.9 million for newly originated loans acquired during the three months ended September 30, 2016.
[2] Represents consumer loan modifications considered to be troubled debt restructurings (“TDRs”) as they provide concessions to borrowers, primarily in the form of interest rate reductions, who are experiencing financial difficulty. As of September 30, 2016, there are $3.6 million in UPB and $2.5 million in carrying value of consumer loans classified as TDRs.
[3] Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $5.6 million in recoveries of previously charged-off UPB.