[ISO man]

Is OnDeck going crazy? This is the second deal I am seeing where they refinanced the merchant without paying off the second and third positions. They just disregarded them. What's up.

[Michael I]

Is OnDeck going crazy? This is the second deal I am seeing where they refinanced the merchant without paying off the second and third positions. They just disregarded them. What's up.

were they in the previous months ?

[FCG]

Sounds like someone took advantage of the system.

[anonymous]

they have been doing this for a while now, also issuing p2+ for their in house brokers. where have you guys been?

[staten]

Same pricing? Year end is starting early. Since they (this quarter anyway) are holding on their Balance Sheet they can stack. The previous securitizations (theorectically) prevented them from doing so. I don't know what new Ares deal looks like.

[anonymous]

Same pricing? Year end is starting early. Since they (this quarter anyway) are holding on their Balance Sheet they can stack. The previous securitizations (theorectically) prevented them from doing so. I don't know what new Ares deal looks like.

With regard to pricing, I honestly don't know. That said, given all their tiers, one would imagine that they've put something together just for those. RE: Ares deal - you may not know what it looks like, but you've got one on me, because I don't even know what the Ares deal is [yet] haha. Will do some digging now and bring myself up to speed.

[CreditGuy]

Ares.

[mcg168]

Thats certainly an interesting position for them to take if they arent requiring 2nd & 3rd positions to be paid off. Maybe they are looking for a funding push at the end of the year but that has to put a big time bump in their default rate

Also just noticed their stock price has dipped again. It was climbing for a lot of the summer/fall but now its close to their all time low.

[anonymous]

Ares.

Didn't catch this yesterday, thank you for the link.

[staten]

Defaults are up
Increase to the provision
Huge shift back to ISO business

[Lender Of Gold]

Defaults are up
Increase to the provision
Huge shift back to ISO business

can't help but think karma's coming around for trying to eliminate salespeople, and hog the market by wasting a couple million in marketing and teaming with the big banks establishment to monopolize MCA with their "algorithm"