[helpinghand]

ONDK will go up in smoke in 18 months...

1) Average annual coupon on entire portfolio was 108% prior to going public. In an effort to gain more business and turn a profit for public shareholders, they lowered prices. Average annual coupon in 2015 was 38%.

2) Also in an attempt to gain more business and turn a profit for public shareholders, they increased payouts to brokers, further squeezing margins.

3) They only have 8% on balance sheet funds. They've built the business with OPM (other peoples' money). At the slightest uptick of danger in the economy, their default rate will go up and lender/marketplace capital will get spooked.

Not to mention, they lie about performing vs. non performing loans by ACH'ing $1 out of accounts from borrowers in default. This way they can keep the loans on the books as "performing" instead of "non-performing".

The market FINALLY is pricing this in.

[Sean Cash]

Not to mention, they lie about performing vs. non performing loans by ACH'ing $1 out of accounts from borrowers in default. This way they can keep the loans on the books as "performing" instead of "non-performing".

... is this true?

[Ocean Financing]

... is this true?

I've personally seen this done at a lender we do business with... anything to keep that default % down.

[Michael I]

... is this true?

they have been doing that for years

[Sean Cash]

they have been doing that for years

$1 though?

[Michael I]

$1 though?

my guy daily was supposed to be 736 and they did 8 dollars a day . this was 3 and a half years ago .

[Chambo]

... is this true?

Can does the same thing

[FUNd]

At the slightest uptick of danger in the economy, their default rate will go up and lender/marketplace capital will get spooked.

Make hay while the sun shines boys and girls.