[staten]

http://finance.yahoo.com/news/ondeck-reports-first-quarter-2015-200100264.html?.tsrc=applewf

Originations only up 83% (I say only as the expectations were higher), refis are included in originations. Reduced the BD debt expense to 7.2% which is fine-provision is 10.5%.

Key quick takeaways:

1. Effective yield down from 41.2 to 36.7 (4.5% decrease) Cost of funds decreased from 9.3 to 5.1 (4.2%).
Yield decrease greater than reduction of cost of capital.

2. 15+ delinquency ratio up huge! 7.2 to 8.4.