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.
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JULY 28, 2020 / 12:00PM, OMF.N - Q2 2020 OneMain Holdings Inc Earnings Call
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?
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