The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Eric J. Hagen - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: How should we think about the tweaks to the underwriting criteria that you mentioned in your prepared remarks? And its impact
on the portfolio yield going forward? And then additionally, you guys have noted a lot of success with renewing borrowers as their
loans roll over. So with regard to those same underwriting tweaks, how meaningful do you think those tweaks might be for some
of the -- some of that cohort, which has renewed with you in the past to qualify for funding based on the new criteria?
Question: Eric J. Hagen - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: Got it. And then it's nice to see the capital distribution this quarter. I guess it's in the third quarter. And I hear you that through
year-end, the earnings will likely be strong. But what were the variables that led you to decide to distribute capital now versus keeping
a little bit more of a cushion heading into 2021, which I think you acknowledge still had its fair share of uncertainties.
Question: Eric J. Hagen - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: Got it. And just to clarify on expenses, when you say lower than last year, is that on a gross basis or on a percentage of receivables
basis?
|
