[Finance1]

It's simple.

Low rates spike volume and that keeps more money moving out the door so the portfolio's value stays in front of defaults. Lose on the individual sale and make up for it with volume. I think it's taught somewhere.

[Akanzer]

When we started the company 7 years ago we were doing unsecured LOC up to $100K. We generated a $300 mil portfolio without collecting a single document and still here to talk about it. Some good lumps but lot's of learnings!