Quote Originally Posted by mcaguru View Post
The question should be asked is JPM (Chase) doing this for current loan products or getting into MCA? I would imagine its for current loans and regarding ONDECK for all we know Chase will pay 15 bucks per file? I mean experian has a great credit report solution but its not a lot of money for funding companies to buy a report!

On another note it would be interesting if Chase came begging for the reports or did ONDECK push for a deal to enhance / add some revenues (do they see the funding business losing steam? competition?!!) and some PR? either way is ethical !! but it adds some light who went after who.


(I would also be curios if they see items on the report that would have them walk away from more loans? and BTW what happens if the default rate goes up with using the ondeck scoring system because JPM is not lacking the ability to UW a merchant in any way shape or form in seams like they are perhaps trying to cut some corners and take some more risk by way of relying on ONDECK !).
From what I understand, OnDeck's platform would be doing the underwriting and processing, but the approval terms would be set by Chase. Chase is not getting into MCA. They are likely just going to be using the platform to spit out small dollar business loan approvals in minutes.