I'm siding with Anthony here. It's hard for us on the broker side to understand a lending entities motives when something we can consider deleterious occurs such as Kevins above concern, but people who can put themselves in the shoes of other people and understand the inner workings of their mind / motives need not to worry about what the future has in store for them.

I think it's analytically fair to say that TVT is one of two lenders in our space who can actually put their money where their mouth is, and they do. We must ask ourselves why are there only two lenders in our space who will fund aggressively large dollar amounts? The obvious answer is that with a 10-15% default rate it's borderline impossible to find an investor-pool who is comfortable enough to put their capital at risk to an extensive level such as that.

So of course there will be contingencies associated with a platform who does what nobody else does in our space, and the non-stacking clause / converting to daily payments etc., is one of those (not for nothing) very few contingencies. I'm also sure that TVT must adhere to certain requirements their investor-pool advises which this is most definitely one of them. Simply put, the reason other lenders aren't engaging in similar contingencies is because their exposure is far lower which means they've done a cost benefit analysis to determine if they should do similar things that TVT does and they've deemed it unnecessary because their exposure doesn't deem it applicable, but TVT has a level of exposure that does.

In addition, I must say that TVT maintains some of the most professional & educated underwriters I've ever encountered along with Andrew the CEO who is someone I've visualized as someone who works incredibly hard. All of this is direly impressive to me because the unfortunate reality is that our industry has a large presence of incompetent, intractable, low intelligence individuals and I know that's not revelatory.