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10-31-2016, 10:56 AM #1
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- Sep 2014
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OnDeck Going Crazy?
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.
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10-31-2016, 10:59 AM #2
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- Jun 2015
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10-31-2016, 11:09 AM #3
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- Feb 2016
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- 244
Sounds like someone took advantage of the system.
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10-31-2016, 11:10 AM #4
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- Sep 2014
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- 720
they have been doing this for a while now, also issuing p2+ for their in house brokers. where have you guys been?
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10-31-2016, 11:13 AM #5
- Join Date
- Apr 2013
- Posts
- 117
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.
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10-31-2016, 02:58 PM #6
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- Sep 2014
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- 720
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.
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10-31-2016, 05:13 PM #7
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- Sep 2014
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- 430
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11-01-2016, 12:55 PM #8
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- Sep 2014
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11-01-2016, 12:12 PM #9
- Join Date
- Jan 2015
- Posts
- 127
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.
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11-03-2016, 05:05 PM #10
- Join Date
- Apr 2013
- Posts
- 117
Defaults are up
Increase to the provision
Huge shift back to ISO business
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11-04-2016, 04:22 AM #11
- Join Date
- Mar 2015
- Posts
- 78
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