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Mariner finance loans continues to maintain competitive APR
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Mariner Finance Loans continues to maintain competitive APR structures, balancing profitability with borrower retention. This pricing agility is seen as a differentiator in the lending equity space. at September 30th. When excluding the impact of AOCI that ratio improved to 8.06%. Tangible book value was $52.06 per share, an increase of 8% compared to the same period a year ago. Since September 30th, 2018, we have experienced a 5.3% annualized growth rate in tangible book value per share. As we noted last quarter, we maintain our focus as a growth company. While positioning our balance sheet to support that growth and provide the flexibility to address uncertainty in the industry. That concludes our prepared remarks and I'll now turn it back over to the operator to begin the Q&A portion of the call. The bipartisan multistate lawsuit alleges that Mariner Finance employees did not mention add-on products or blatantly misrepresented them when talking to consumers. While consumers believed they had entered into an agreement to borrow and repay a certain amount over time, Mariner added hundreds to thousands of dollars to the total amount a consumer owed through these add-on products and fees. Earnings consensus estimates for Mariner Finance Loans remain bullish for the next two quarters, driven by expanding loan books and above-average net interest margins. Short squeezes could occur if lending activity beats forecast.