ENOVA INTERNATIONAL, INC. Delinquencies and Net Charge-Offs
The following Supplemental Data provides historical information relating to (1) delinquency experience as of the dates indicated for a specific subset of OnDeck's daily, weekly and monthly pay U.S. term loans and lines of credit (as indicated in the headings below), including both on-balance sheet loans and loans sold to investors, as further described in Item 7.01 of the Current Report on Form 8-K to which this Exhibit 99.1 is attached, (2) static pool net charge-off data for such term loans originated in the particular year or quarter specified in such net charge-off table and (3) annualized net charge-off data for such term loans and lines of credit (as indicated in the headings below) as of the particular year or quarter specified in such annualized net charge-off table.
Term Loan Delinquency Experience1, 2
| 2/29/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||||||||||||||||||||||
Number of Term Loans Outstanding | 21,257 | 20,443 | 18,026 | 11,951 | 10,473 | 19,576 | 21,116 | |||||||||||||||||||||
Aggregate Unpaid Principal Balance | $ | 1,141,299,274 | $ | 1,081,489,175 | $ | 958,035,405 | $ | 564,833,713 | $ | 402,659,159 | $ | 855,865,052 | $ | 892,216,278 | ||||||||||||||
| Unpaid Principal Balance of Past Due Term Loans | ||||||||||||||||||||||||||||
1-14 missed payment factor | $ | 24,268,072 | $ | 34,595,627 | $ | 41,980,019 | $ | 15,395,906 | $ | 14,295,617 | $ | 27,496,165 | $ | 29,859,987 | ||||||||||||||
15-29 missed payment factor | $ | 27,579,555 | $ | 26,264,683 | $ | 25,013,844 | $ | 7,018,340 | $ | 11,737,335 | $ | 18,005,152 | $ | 17,017,747 | ||||||||||||||
30-44 missed payment factor | $ | 22,481,273 | $ | 22,313,096 | $ | 20,890,824 | $ | 5,985,236 | $ | 4,681,417 | $ | 13,677,209 | $ | 12,643,866 | ||||||||||||||
45-59 missed payment factor | $ | 23,601,855 | $ | 20,230,938 | $ | 14,293,284 | $ | 4,307,708 | $ | 3,017,883 | $ | 12,827,053 | $ | 12,090,837 | ||||||||||||||
60+ non-write off paying | $ | 33,203,925 | $ | 26,936,769 | $ | 15,727,287 | $ | 14,702,587 | $ | 50,240,781 | $ | 17,877,544 | $ | 18,208,895 | ||||||||||||||
60+ non-write off not paying | $ | 16,494,015 | $ | 18,655,548 | $ | 12,841,244 | $ | 6,794,343 | $ | 15,395,179 | $ | 26,591,630 | $ | 11,970,251 | ||||||||||||||
Total 61+ missed payment factor | $ | 49,697,940 | $ | 45,592,317 | $ | 28,568,531 | $ | 21,496,930 | $ | 65,635,960 | $ | 44,469,174 | $ | 30,179,146 | ||||||||||||||
| Term Loans past due as a % of Unpaid Principal Balance | ||||||||||||||||||||||||||||
1-14 missed payment factor | 2.13 | % | 3.20 | % | 4.38 | % | 2.73 | % | 3.55 | % | 3.21 | % | 3.35 | % | ||||||||||||||
15-29 missed payment factor | 2.42 | % | 2.43 | % | 2.61 | % | 1.24 | % | 2.91 | % | 2.10 | % | 1.91 | % | ||||||||||||||
30-44 missed payment factor | 1.97 | % | 2.06 | % | 2.18 | % | 1.06 | % | 1.16 | % | 1.60 | % | 1.42 | % | ||||||||||||||
45-59 missed payment factor | 2.07 | % | 1.87 | % | 1.49 | % | 0.76 | % | 0.75 | % | 1.50 | % | 1.36 | % | ||||||||||||||
60+ non-write off paying | 2.91 | % | 2.49 | % | 1.64 | % | 2.60 | % | 12.48 | % | 2.09 | % | 2.04 | % | ||||||||||||||
60+ non-write off not paying | 1.45 | % | 1.72 | % | 1.34 | % | 1.20 | % | 3.82 | % | 3.11 | % | 1.34 | % | ||||||||||||||
| 1 | The delinquency experience is measured by the missed payment factors of the term loans in the Term Loan Comparable Serviced Portfolio. The missed payment factor of a daily pay loan is the sum of the total past due amount of scheduled loan payments thereunder divided by the required daily scheduled loan payment thereunder plus the number of scheduled loan payment dates (if any) past the maturity date on which scheduled loan payment were due but not received on such loan. The missed payment factor of a weekly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per week and the missed payment factor of a monthly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per month. |
| 2 | Paid off Term Loans are viewed as $0 Unpaid Principal Balance. |
Line of Credit Delinquency Experience3, 4
| 2/29/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||||||||||||||||||||||
Number of Lines of Credit Outstanding | 18,867 | 18,288 | 19,756 | 16,554 | 15,455 | 16,679 | 15,228 | |||||||||||||||||||||
Aggregate Unpaid Principal Balance | $ | 331,595,112 | $ | 311,773,099 | $ | 282,797,470 | $ | 188,025,712 | $ | 155,613,216 | $ | 270,513,213 | $ | 181,076,699 | ||||||||||||||
| Unpaid Principal Balance of Past Due Lines of Credit | ||||||||||||||||||||||||||||
1-14 missed payment factor | $ | 5,775,001 | $ | 9,271,368 | $ | 7,582,731 | $ | 2,719,867 | $ | 3,096,656 | $ | 5,563,570 | $ | 3,142,169 | ||||||||||||||
15-29 missed payment factor | $ | 5,388,079 | $ | 5,116,921 | $ | 4,472,181 | $ | 1,305,146 | $ | 1,553,464 | $ | 3,390,316 | $ | 2,057,493 | ||||||||||||||
30-44 missed payment factor | $ | 5,179,508 | $ | 4,575,375 | $ | 3,469,618 | $ | 909,273 | $ | 909,064 | $ | 3,085,334 | $ | 1,808,989 | ||||||||||||||
45-59 missed payment factor | $ | 4,241,247 | $ | 4,375,194 | $ | 2,363,179 | $ | 640,028 | $ | 957,284 | $ | 2,326,662 | $ | 1,039,825 | ||||||||||||||
60+ non-write off paying | $ | 6,502,013 | $ | 5,662,676 | $ | 2,197,777 | $ | 2,094,009 | $ | 8,552,818 | $ | 1,950,686 | $ | 1,257,142 | ||||||||||||||
60+ non-write off not paying | $ | 4,150,111 | $ | 5,725,349 | $ | 1,596,918 | $ | 2,080,632 | $ | 4,316,801 | $ | 5,099,439 | $ | 3,255,459 | ||||||||||||||
Total 61+ missed payment factor | $ | 10,652,124 | $ | 11,388,025 | $ | 3,794,694 | $ | 4,174,641 | $ | 12,869,619 | $ | 7,050,124 | $ | 4,512,602 | ||||||||||||||
| Lines of Credit past due as a % of Unpaid Principal Balance | ||||||||||||||||||||||||||||
1-14 missed payment factor | 1.74 | % | 2.97 | % | 2.68 | % | 1.45 | % | 1.99 | % | 2.06 | % | 1.74 | % | ||||||||||||||
15-29 missed payment factor | 1.62 | % | 1.64 | % | 1.58 | % | 0.69 | % | 1.00 | % | 1.25 | % | 1.14 | % | ||||||||||||||
30-44 missed payment factor | 1.56 | % | 1.47 | % | 1.23 | % | 0.48 | % | 0.58 | % | 1.14 | % | 1.00 | % | ||||||||||||||
45-59 missed payment factor | 1.28 | % | 1.40 | % | 0.84 | % | 0.34 | % | 0.62 | % | 0.86 | % | 0.57 | % | ||||||||||||||
60+ non-write off paying | 1.96 | % | 1.82 | % | 0.78 | % | 1.11 | % | 5.50 | % | 0.72 | % | 0.69 | % | ||||||||||||||
60+ non-write off not paying | 1.25 | % | 1.84 | % | 0.56 | % | 1.11 | % | 2.77 | % | 1.89 | % | 1.80 | % | ||||||||||||||
| 3 | The delinquency experience is measured by the missed payment factors of the line of credit loans in the Line of Credit Comparable Serviced Portfolio. The missed payment factor of a daily pay loan is the sum of the total past due amount of scheduled loan payments thereunder divided by the required daily scheduled loan payment thereunder plus the number of scheduled loan payment dates (if any) past the maturity date on which scheduled loan payment were due but not received on such loan. The missed payment factor of a weekly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per week and the missed payment factor of a monthly pay loan is calculated utilizing the same methodology, normalized to account for loans with only one scheduled payment per month. Historically, line of credit loans have been weekly pay loans. |
| 4 | Dormant Lines of Credit are viewed as $0 Unpaid Principal Balance. |
Term Loan Cumulative Net Charge-Off Experience5
Origination Vintages (based on calendar year or quarter): Overall
| 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||||||||
Number of Loans Originated | 6,839 | 6,193 | 5,429 | 5,537 | 23,005 | 15,091 | 10,944 | 28,717 | 31,070 | |||||||||||||||||||||||||||
Aggregate Original Principal Balance | $ | 525,383,724 | $ | 457,971,694 | $ | 408,139,914 | $ | 423,014,079 | $ | 1,647,613,230 | $ | 951,026,442 | $ | 658,440,346 | $ | 1,708,671,260 | $ | 1,835,659,879 | ||||||||||||||||||
| Cumulative Net Charge-Offs (as a % of aggregate original principal balance)6 | ||||||||||||||||||||||||||||||||||||
|
Months Since Origination | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | |||||||||||||||||||||||||||
1 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.01 | % | ||||||||||||||||||
2 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.01 | % | 0.03 | % | 0.01 | % | 0.03 | % | 0.04 | % | ||||||||||||||||||
3 | 0.01 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.03 | % | 0.09 | % | 0.15 | % | 0.07 | % | 0.10 | % | ||||||||||||||||||
4 | 0.05 | % | 0.18 | % | 0.22 | % | 0.27 | % | 0.30 | % | 0.39 | % | 0.23 | % | 0.28 | % | ||||||||||||||||||||
5 | 0.87 | % | 0.85 | % | 0.76 | % | 1.23 | % | 0.89 | % | 0.72 | % | 0.83 | % | 0.82 | % | ||||||||||||||||||||
6 | 2.21 | % | 2.04 | % | 1.75 | % | 2.54 | % | 1.83 | % | 1.30 | % | 1.71 | % | 1.75 | % | ||||||||||||||||||||
7 | 3.20 | % | 2.69 | % | 3.81 | % | 2.67 | % | 1.90 | % | 2.56 | % | 2.77 | % | ||||||||||||||||||||||
8 | 4.55 | % | 3.97 | % | 5.15 | % | 3.72 | % | 2.71 | % | 3.57 | % | 3.79 | % | ||||||||||||||||||||||
9 | 5.33 | % | 5.33 | % | 6.36 | % | 4.44 | % | 3.53 | % | 4.51 | % | 4.65 | % | ||||||||||||||||||||||
10 | 6.16 | % | 7.41 | % | 5.17 | % | 4.20 | % | 5.39 | % | 5.40 | % | ||||||||||||||||||||||||
11 | 6.82 | % | 8.40 | % | 5.72 | % | 4.62 | % | 6.25 | % | 5.85 | % | ||||||||||||||||||||||||
12 | 7.58 | % | 9.17 | % | 6.25 | % | 4.98 | % | 6.85 | % | 6.28 | % | ||||||||||||||||||||||||
13 | 9.96 | % | 6.54 | % | 5.21 | % | 7.39 | % | 6.63 | % | ||||||||||||||||||||||||||
14 | 10.59 | % | 6.72 | % | 5.42 | % | 7.80 | % | 6.92 | % | ||||||||||||||||||||||||||
15 | 11.02 | % | 6.89 | % | 5.46 | % | 8.22 | % | 7.12 | % | ||||||||||||||||||||||||||
16 | 7.04 | % | 5.60 | % | 8.50 | % | 7.29 | % | ||||||||||||||||||||||||||||
17 | 7.18 | % | 5.64 | % | 8.76 | % | 7.44 | % | ||||||||||||||||||||||||||||
18 | 7.28 | % | 5.65 | % | 8.87 | % | 7.62 | % | ||||||||||||||||||||||||||||
19 | 7.33 | % | 5.68 | % | 8.98 | % | 7.71 | % | ||||||||||||||||||||||||||||
20 | 7.39 | % | 5.73 | % | 9.01 | % | 7.81 | % | ||||||||||||||||||||||||||||
21 | 7.37 | % | 5.69 | % | 9.04 | % | 7.84 | % | ||||||||||||||||||||||||||||
22 | 7.38 | % | 5.69 | % | 9.07 | % | 7.86 | % | ||||||||||||||||||||||||||||
23 | 7.38 | % | 5.63 | % | 9.07 | % | 7.87 | % | ||||||||||||||||||||||||||||
24 | 7.35 | % | 5.59 | % | 9.06 | % | 7.87 | % | ||||||||||||||||||||||||||||
25 | 7.33 | % | 5.58 | % | 9.02 | % | 7.87 | % | ||||||||||||||||||||||||||||
26 | 7.29 | % | 5.55 | % | 8.99 | % | 7.86 | % | ||||||||||||||||||||||||||||
27 | 7.23 | % | 5.47 | % | 8.94 | % | 7.84 | % | ||||||||||||||||||||||||||||
28 | 5.42 | % | 8.89 | % | 7.82 | % | ||||||||||||||||||||||||||||||
29 | 5.37 | % | 8.83 | % | 7.81 | % | ||||||||||||||||||||||||||||||
30 | 5.35 | % | 8.77 | % | 7.79 | % |
| 5 | The historical information in the tables in this section reflect net charge-offs in respect of the Term Loan Comparable Serviced Portfolio that were charged-off by the Seller and/or On Deck Capital, Inc. in accordance with their then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller and/or On Deck Capital, Inc. in accordance with their Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3. The data shown above for the referenced annual or quarterly vintages represents the loans originated during such year or quarter as a static pool, and illustrates how such vintages have performed given equivalent months of seasoning. |
| 6 | Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination. |
| Origination Vintages (based on calendar year or quarter): OnDeck Score < 470 | ||||||||||||||||||||||||||||||||||||
| 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||||||||
Number of Loans Originated | 24 | 46 | 87 | 87 | 793 | 834 | 331 | 1,034 | 1,753 | |||||||||||||||||||||||||||
Aggregate Original Principal Balance | $ | 1,582,944 | $ | 2,791,554 | $ | 5,318,168 | $ | 4,786,264 | $ | 27,954,673 | $ | 27,059,170 | $ | 8,521,102 | $ | 26,174,248 | $ | 42,028,278 | ||||||||||||||||||
| Cumulative Net Charge-Offs (as a % of aggregate original principal balance)7 | ||||||||||||||||||||||||||||||||||||
Months Since Origination | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | |||||||||||||||||||||||||||
1 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||
2 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.17 | % | 0.00 | % | 0.10 | % | 0.24 | % | ||||||||||||||||||
3 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.21 | % | 0.14 | % | 0.15 | % | 0.56 | % | ||||||||||||||||||
4 | 0.00 | % | 0.00 | % | 0.00 | % | 0.56 | % | 0.71 | % | 0.14 | % | 0.39 | % | 1.24 | % | ||||||||||||||||||||
5 | 4.98 | % | 9.17 | % | 3.26 | % | 4.09 | % | 3.08 | % | 0.72 | % | 2.51 | % | 3.00 | % | ||||||||||||||||||||
6 | 8.04 | % | 15.54 | % | 5.54 | % | 6.98 | % | 8.09 | % | 1.50 | % | 4.61 | % | 5.76 | % | ||||||||||||||||||||
7 | 18.53 | % | 8.94 | % | 11.02 | % | 10.65 | % | 3.26 | % | 6.64 | % | 8.99 | % | ||||||||||||||||||||||
8 | 18.48 | % | 9.67 | % | 13.40 | % | 13.53 | % | 5.03 | % | 8.64 | % | 12.20 | % | ||||||||||||||||||||||
9 | 18.48 | % | 11.25 | % | 15.71 | % | 15.63 | % | 5.79 | % | 10.32 | % | 13.90 | % | ||||||||||||||||||||||
10 | 11.46 | % | 17.23 | % | 16.55 | % | 6.44 | % | 11.83 | % | 14.93 | % | ||||||||||||||||||||||||
11 | 14.47 | % | 18.52 | % | 16.27 | % | 7.41 | % | 12.68 | % | 15.56 | % | ||||||||||||||||||||||||
12 | 14.47 | % | 19.83 | % | 16.65 | % | 8.31 | % | 13.77 | % | 15.86 | % | ||||||||||||||||||||||||
13 | 20.86 | % | 16.78 | % | 8.46 | % | 13.89 | % | 16.48 | % | ||||||||||||||||||||||||||
14 | 21.03 | % | 17.13 | % | 8.86 | % | 13.98 | % | 16.78 | % | ||||||||||||||||||||||||||
15 | 21.25 | % | 17.15 | % | 9.06 | % | 14.05 | % | 16.97 | % | ||||||||||||||||||||||||||
16 | 17.10 | % | 9.31 | % | 14.73 | % | 16.97 | % | ||||||||||||||||||||||||||||
17 | 17.09 | % | 9.44 | % | 14.81 | % | 16.96 | % | ||||||||||||||||||||||||||||
18 | 17.09 | % | 9.36 | % | 14.61 | % | 16.96 | % | ||||||||||||||||||||||||||||
19 | 16.44 | % | 9.33 | % | 14.66 | % | 16.88 | % | ||||||||||||||||||||||||||||
20 | 16.39 | % | 9.04 | % | 14.57 | % | 16.84 | % | ||||||||||||||||||||||||||||
21 | 16.35 | % | 9.01 | % | 14.49 | % | 16.80 | % | ||||||||||||||||||||||||||||
22 | 16.26 | % | 8.97 | % | 14.33 | % | 16.75 | % | ||||||||||||||||||||||||||||
23 | 16.20 | % | 8.88 | % | 14.36 | % | 16.66 | % | ||||||||||||||||||||||||||||
24 | 16.12 | % | 8.83 | % | 14.27 | % | 16.60 | % | ||||||||||||||||||||||||||||
25 | 16.03 | % | 8.65 | % | 14.16 | % | 16.56 | % | ||||||||||||||||||||||||||||
26 | 15.95 | % | 8.57 | % | 14.04 | % | 16.48 | % | ||||||||||||||||||||||||||||
27 | 15.86 | % | 8.48 | % | 13.90 | % | 16.34 | % | ||||||||||||||||||||||||||||
28 | 8.41 | % | 13.79 | % | 16.16 | % | ||||||||||||||||||||||||||||||
29 | 8.33 | % | 13.77 | % | 16.09 | % | ||||||||||||||||||||||||||||||
30 | 8.16 | % | 13.65 | % | 16.06 | % |
| 7 | Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination. |
| Origination Vintages (based on calendar year or quarter): OnDeck Score 470-499 | ||||||||||||||||||||||||||||||||||||
| 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||||||||
Number of Loans Originated | 625 | 703 | 525 | 238 | 4,114 | 3,082 | 1,510 | 4,600 | 5,856 | |||||||||||||||||||||||||||
Aggregate Original Principal Balance | $ | 28,383,514 | $ | 35,602,199 | $ | 29,740,921 | $ | 16,531,885 | $ | 203,415,181 | $ | 150,873,809 | $ | 57,734,557 | $ | 176,893,016 | $ | 229,466,667 | ||||||||||||||||||
| Cumulative Net Charge-Offs (as a % of aggregate original principal balance)8 | ||||||||||||||||||||||||||||||||||||
|
Months Since Origination | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | |||||||||||||||||||||||||||
1 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||
2 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.03 | % | 0.00 | % | 0.09 | % | 0.05 | % | ||||||||||||||||||
3 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.06 | % | 0.24 | % | 0.28 | % | 0.19 | % | ||||||||||||||||||
4 | 0.20 | % | 0.08 | % | 1.22 | % | 0.61 | % | 0.55 | % | 0.97 | % | 0.79 | % | 0.69 | % | ||||||||||||||||||||
5 | 1.74 | % | 1.10 | % | 1.75 | % | 3.19 | % | 1.96 | % | 1.59 | % | 2.21 | % | 1.96 | % | ||||||||||||||||||||
6 | 3.96 | % | 3.41 | % | 2.14 | % | 6.16 | % | 4.40 | % | 2.83 | % | 4.75 | % | 4.11 | % | ||||||||||||||||||||
7 | 8.09 | % | 2.38 | % | 8.58 | % | 6.36 | % | 3.78 | % | 6.36 | % | 6.21 | % | ||||||||||||||||||||||
8 | 9.66 | % | 4.91 | % | 11.28 | % | 9.46 | % | 4.81 | % | 8.35 | % | 7.99 | % | ||||||||||||||||||||||
9 | 10.14 | % | 7.14 | % | 13.36 | % | 11.29 | % | 6.64 | % | 10.01 | % | 9.73 | % | ||||||||||||||||||||||
10 | 10.46 | % | 14.82 | % | 12.95 | % | 7.32 | % | 11.10 | % | 11.07 | % | ||||||||||||||||||||||||
11 | 12.10 | % | 16.80 | % | 14.15 | % | 8.11 | % | 12.81 | % | 12.00 | % | ||||||||||||||||||||||||
12 | 14.31 | % | 18.18 | % | 15.37 | % | 8.95 | % | 13.95 | % | 12.56 | % | ||||||||||||||||||||||||
13 | 19.72 | % | 15.88 | % | 9.57 | % | 14.71 | % | 13.05 | % | ||||||||||||||||||||||||||
14 | 20.70 | % | 16.16 | % | 9.90 | % | 15.30 | % | 13.50 | % | ||||||||||||||||||||||||||
15 | 21.30 | % | 16.24 | % | 9.88 | % | 15.63 | % | 13.86 | % | ||||||||||||||||||||||||||
16 | 16.55 | % | 10.33 | % | 16.00 | % | 14.09 | % | ||||||||||||||||||||||||||||
17 | 16.72 | % | 10.26 | % | 16.22 | % | 14.28 | % | ||||||||||||||||||||||||||||
18 | 17.04 | % | 10.26 | % | 16.26 | % | 14.50 | % | ||||||||||||||||||||||||||||
19 | 17.03 | % | 10.16 | % | 16.28 | % | 14.54 | % | ||||||||||||||||||||||||||||
20 | 17.21 | % | 10.11 | % | 16.21 | % | 14.53 | % | ||||||||||||||||||||||||||||
21 | 17.09 | % | 9.87 | % | 16.11 | % | 14.61 | % | ||||||||||||||||||||||||||||
22 | 17.04 | % | 9.99 | % | 16.06 | % | 14.53 | % | ||||||||||||||||||||||||||||
23 | 17.07 | % | 9.88 | % | 15.95 | % | 14.52 | % | ||||||||||||||||||||||||||||
24 | 17.04 | % | 9.84 | % | 15.94 | % | 14.51 | % | ||||||||||||||||||||||||||||
25 | 16.99 | % | 9.82 | % | 15.91 | % | 14.47 | % | ||||||||||||||||||||||||||||
26 | 16.99 | % | 9.68 | % | 15.83 | % | 14.44 | % | ||||||||||||||||||||||||||||
27 | 16.93 | % | 9.57 | % | 15.76 | % | 14.37 | % | ||||||||||||||||||||||||||||
28 | 9.44 | % | 15.71 | % | 14.35 | % | ||||||||||||||||||||||||||||||
29 | 9.30 | % | 15.62 | % | 14.31 | % | ||||||||||||||||||||||||||||||
30 | 9.16 | % | 15.49 | % | 14.23 | % |
| 8 | Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination. |
| Origination Vintages (based on calendar year or quarter): OnDeck Score 500-529 | ||||||||||||||||||||||||||||||||||||
| 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||||||||
Number of Loans Originated | 2,841 | 2,473 | 2,169 | 2,288 | 8,795 | 4,794 | 3,282 | 8,711 | 9,007 | |||||||||||||||||||||||||||
Aggregate Original Principal Balance | $ | 172,881,748 | $ | 147,802,073 | $ | 132,051,133 | $ | 145,131,823 | $ | 595,415,252 | $ | 291,601,858 | $ | 176,638,609 | $ | 472,686,919 | $ | 496,682,710 | ||||||||||||||||||
| Cumulative Net Charge-Offs (as a % of aggregate original principal balance)9 | ||||||||||||||||||||||||||||||||||||
|
Months Since Origination | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | |||||||||||||||||||||||||||
1 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.03 | % | ||||||||||||||||||
2 | 0.01 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.01 | % | 0.06 | % | 0.00 | % | 0.03 | % | 0.06 | % | ||||||||||||||||||
3 | 0.04 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.06 | % | 0.15 | % | 0.24 | % | 0.09 | % | 0.14 | % | ||||||||||||||||||
4 | 0.09 | % | 0.32 | % | 0.13 | % | 0.33 | % | 0.45 | % | 0.60 | % | 0.33 | % | 0.35 | % | ||||||||||||||||||||
5 | 1.43 | % | 0.98 | % | 0.84 | % | 1.57 | % | 1.01 | % | 1.19 | % | 1.21 | % | 1.29 | % | ||||||||||||||||||||
6 | 3.12 | % | 2.74 | % | 2.48 | % | 3.21 | % | 2.05 | % | 2.15 | % | 2.28 | % | 2.52 | % | ||||||||||||||||||||
7 | 4.03 | % | 3.92 | % | 4.90 | % | 3.11 | % | 3.26 | % | 3.47 | % | 3.96 | % | ||||||||||||||||||||||
8 | 5.73 | % | 5.90 | % | 6.66 | % | 4.04 | % | 4.40 | % | 4.79 | % | 5.20 | % | ||||||||||||||||||||||
9 | 6.72 | % | 7.95 | % | 8.31 | % | 4.85 | % | 5.64 | % | 6.29 | % | 6.34 | % | ||||||||||||||||||||||
10 | 9.32 | % | 10.03 | % | 5.83 | % | 6.43 | % | 7.53 | % | 7.45 | % | ||||||||||||||||||||||||
11 | 10.30 | % | 11.21 | % | 6.54 | % | 7.21 | % | 8.91 | % | 8.10 | % | ||||||||||||||||||||||||
12 | 11.42 | % | 12.14 | % | 7.34 | % | 7.74 | % | 9.72 | % | 8.71 | % | ||||||||||||||||||||||||
13 | 13.16 | % | 7.79 | % | 8.05 | % | 10.56 | % | 9.05 | % | ||||||||||||||||||||||||||
14 | 14.11 | % | 8.05 | % | 8.38 | % | 11.15 | % | 9.41 | % | ||||||||||||||||||||||||||
15 | 14.76 | % | 8.37 | % | 8.48 | % | 11.64 | % | 9.64 | % | ||||||||||||||||||||||||||
16 | 8.60 | % | 8.58 | % | 11.89 | % | 9.80 | % | ||||||||||||||||||||||||||||
17 | 8.80 | % | 8.62 | % | 12.34 | % | 10.08 | % | ||||||||||||||||||||||||||||
18 | 8.91 | % | 8.67 | % | 12.52 | % | 10.32 | % | ||||||||||||||||||||||||||||
19 | 9.02 | % | 8.68 | % | 12.65 | % | 10.49 | % | ||||||||||||||||||||||||||||
20 | 9.04 | % | 8.81 | % | 12.68 | % | 10.60 | % | ||||||||||||||||||||||||||||
21 | 9.05 | % | 8.78 | % | 12.69 | % | 10.61 | % | ||||||||||||||||||||||||||||
22 | 9.05 | % | 8.74 | % | 12.69 | % | 10.69 | % | ||||||||||||||||||||||||||||
23 | 9.01 | % | 8.70 | % | 12.76 | % | 10.69 | % | ||||||||||||||||||||||||||||
24 | 8.98 | % | 8.62 | % | 12.70 | % | 10.70 | % | ||||||||||||||||||||||||||||
25 | 8.97 | % | 8.65 | % | 12.70 | % | 10.72 | % | ||||||||||||||||||||||||||||
26 | 8.92 | % | 8.66 | % | 12.68 | % | 10.72 | % | ||||||||||||||||||||||||||||
27 | 8.79 | % | 8.56 | % | 12.62 | % | 10.68 | % | ||||||||||||||||||||||||||||
28 | 8.48 | % | 12.54 | % | 10.66 | % | ||||||||||||||||||||||||||||||
29 | 8.43 | % | 12.41 | % | 10.64 | % | ||||||||||||||||||||||||||||||
30 | 8.37 | % | 12.34 | % | 10.62 | % |
| 9 | Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination. |
| Origination Vintages (based on calendar year or quarter): OnDeck Score 530-559 | ||||||||||||||||||||||||||||||||||||
| 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||||||||
Number of Loans Originated | 2,240 | 1,990 | 1,795 | 1,971 | 5,921 | 3,833 | 3,341 | 8,336 | 8,263 | |||||||||||||||||||||||||||
Aggregate Original Principal Balance | $ | 201,408,280 | $ | 171,567,572 | $ | 154,615,976 | $ | 164,703,215 | $ | 500,477,163 | $ | 275,298,612 | $ | 219,069,951 | $ | 541,210,531 | $ | 557,559,854 | ||||||||||||||||||
| Cumulative Net Charge-Offs (as a % of aggregate original principal balance)10 | ||||||||||||||||||||||||||||||||||||
|
Months Since Origination | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | |||||||||||||||||||||||||||
1 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||
2 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.02 | % | 0.02 | % | 0.03 | % | 0.02 | % | ||||||||||||||||||
3 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.02 | % | 0.06 | % | 0.15 | % | 0.03 | % | 0.07 | % | ||||||||||||||||||
4 | 0.01 | % | 0.20 | % | 0.09 | % | 0.16 | % | 0.15 | % | 0.33 | % | 0.15 | % | 0.22 | % | ||||||||||||||||||||
5 | 0.61 | % | 0.79 | % | 0.58 | % | 0.52 | % | 0.51 | % | 0.63 | % | 0.63 | % | 0.46 | % | ||||||||||||||||||||
6 | 1.84 | % | 1.51 | % | 1.48 | % | 1.37 | % | 0.83 | % | 1.06 | % | 1.43 | % | 1.17 | % | ||||||||||||||||||||
7 | 2.43 | % | 2.46 | % | 2.13 | % | 1.25 | % | 1.40 | % | 2.26 | % | 1.94 | % | ||||||||||||||||||||||
8 | 4.06 | % | 3.53 | % | 3.06 | % | 1.86 | % | 2.04 | % | 3.15 | % | 2.86 | % | ||||||||||||||||||||||
9 | 4.90 | % | 4.75 | % | 3.92 | % | 2.20 | % | 2.52 | % | 3.94 | % | 3.57 | % | ||||||||||||||||||||||
10 | 5.32 | % | 4.51 | % | 2.57 | % | 3.24 | % | 4.79 | % | 4.10 | % | ||||||||||||||||||||||||
11 | 5.80 | % | 5.31 | % | 3.01 | % | 3.57 | % | 5.51 | % | 4.44 | % | ||||||||||||||||||||||||
12 | 6.45 | % | 5.94 | % | 3.24 | % | 3.76 | % | 6.06 | % | 4.89 | % | ||||||||||||||||||||||||
13 | 6.47 | % | 3.49 | % | 3.96 | % | 6.58 | % | 5.27 | % | ||||||||||||||||||||||||||
14 | 6.88 | % | 3.62 | % | 4.22 | % | 6.94 | % | 5.52 | % | ||||||||||||||||||||||||||
15 | 7.18 | % | 3.80 | % | 4.24 | % | 7.48 | % | 5.72 | % | ||||||||||||||||||||||||||
16 | 3.86 | % | 4.45 | % | 7.82 | % | 5.92 | % | ||||||||||||||||||||||||||||
17 | 4.02 | % | 4.57 | % | 8.05 | % | 6.06 | % | ||||||||||||||||||||||||||||
18 | 4.07 | % | 4.49 | % | 8.17 | % | 6.22 | % | ||||||||||||||||||||||||||||
19 | 4.22 | % | 4.49 | % | 8.33 | % | 6.34 | % | ||||||||||||||||||||||||||||
20 | 4.29 | % | 4.57 | % | 8.40 | % | 6.47 | % | ||||||||||||||||||||||||||||
21 | 4.28 | % | 4.54 | % | 8.46 | % | 6.50 | % | ||||||||||||||||||||||||||||
22 | 4.33 | % | 4.50 | % | 8.51 | % | 6.52 | % | ||||||||||||||||||||||||||||
23 | 4.36 | % | 4.40 | % | 8.48 | % | 6.54 | % | ||||||||||||||||||||||||||||
24 | 4.31 | % | 4.37 | % | 8.49 | % | 6.53 | % | ||||||||||||||||||||||||||||
25 | 4.30 | % | 4.34 | % | 8.45 | % | 6.53 | % | ||||||||||||||||||||||||||||
26 | 4.25 | % | 4.29 | % | 8.36 | % | 6.53 | % | ||||||||||||||||||||||||||||
27 | 4.22 | % | 4.20 | % | 8.30 | % | 6.51 | % | ||||||||||||||||||||||||||||
28 | 4.16 | % | 8.26 | % | 6.51 | % | ||||||||||||||||||||||||||||||
29 | 4.09 | % | 8.24 | % | 6.49 | % | ||||||||||||||||||||||||||||||
30 | 4.08 | % | 8.18 | % | 6.46 | % |
| 10 | Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination. |
| Origination Vintages (based on calendar year or quarter): OnDeck Score 560+ | ||||||||||||||||||||||||||||||||||||
| 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||||||||
Number of Loans Originated | 1,109 | 981 | 853 | 953 | 3,382 | 2,548 | 2,480 | 6,036 | 6,191 | |||||||||||||||||||||||||||
Aggregate Original Principal Balance | $ | 121,127,237 | $ | 100,208,296 | $ | 86,413,716 | $ | 91,860,892 | $ | 320,350,960 | $ | 206,192,993 | $ | 196,476,127 | $ | 491,706,545 | $ | 509,922,369 | ||||||||||||||||||
| Cumulative Net Charge-Offs (as a % of aggregate original principal balance)11 | ||||||||||||||||||||||||||||||||||||
|
Months Since Origination | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 | 2021 | 2020 | 2019 | 2018 | |||||||||||||||||||||||||||
1 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||
2 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.02 | % | 0.00 | % | 0.03 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||
3 | 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | 0.02 | % | 0.03 | % | 0.04 | % | 0.00 | % | 0.01 | % | ||||||||||||||||||
4 | 0.00 | % | 0.00 | % | 0.42 | % | 0.07 | % | 0.07 | % | 0.10 | % | 0.01 | % | 0.01 | % | ||||||||||||||||||||
5 | 0.08 | % | 0.16 | % | 0.66 | % | 0.21 | % | 0.14 | % | 0.16 | % | 0.10 | % | 0.05 | % | ||||||||||||||||||||
6 | 0.69 | % | 0.62 | % | 0.81 | % | 0.45 | % | 0.14 | % | 0.36 | % | 0.24 | % | 0.25 | % | ||||||||||||||||||||
7 | 0.67 | % | 0.92 | % | 0.75 | % | 0.20 | % | 0.65 | % | 0.45 | % | 0.47 | % | ||||||||||||||||||||||
8 | 1.00 | % | 1.28 | % | 1.02 | % | 0.27 | % | 1.22 | % | 0.86 | % | 0.85 | % | ||||||||||||||||||||||
9 | 1.51 | % | 1.59 | % | 1.31 | % | 0.38 | % | 1.75 | % | 1.13 | % | 1.14 | % | ||||||||||||||||||||||
10 | 1.62 | % | 1.53 | % | 0.52 | % | 2.26 | % | 1.58 | % | 1.50 | % | ||||||||||||||||||||||||
11 | 1.81 | % | 1.79 | % | 0.61 | % | 2.33 | % | 1.81 | % | 1.64 | % | ||||||||||||||||||||||||
12 | 1.98 | % | 2.07 | % | 0.66 | % | 2.54 | % | 2.06 | % | 1.81 | % | ||||||||||||||||||||||||
13 | 2.31 | % | 0.67 | % | 2.61 | % | 2.26 | % | 2.05 | % | ||||||||||||||||||||||||||
14 | 2.50 | % | 0.70 | % | 2.62 | % | 2.52 | % | 2.24 | % | ||||||||||||||||||||||||||
15 | 2.62 | % | 0.72 | % | 2.65 | % | 2.79 | % | 2.35 | % | ||||||||||||||||||||||||||
16 | 0.80 | % | 2.64 | % | 2.96 | % | 2.47 | % | ||||||||||||||||||||||||||||
17 | 0.80 | % | 2.62 | % | 3.09 | % | 2.53 | % | ||||||||||||||||||||||||||||
18 | 0.83 | % | 2.71 | % | 3.16 | % | 2.67 | % | ||||||||||||||||||||||||||||
19 | 0.81 | % | 2.82 | % | 3.25 | % | 2.69 | % | ||||||||||||||||||||||||||||
20 | 0.82 | % | 2.83 | % | 3.29 | % | 2.80 | % | ||||||||||||||||||||||||||||
21 | 0.81 | % | 2.84 | % | 3.33 | % | 2.81 | % | ||||||||||||||||||||||||||||
22 | 0.85 | % | 2.87 | % | 3.40 | % | 2.84 | % | ||||||||||||||||||||||||||||
23 | 0.85 | % | 2.85 | % | 3.43 | % | 2.88 | % | ||||||||||||||||||||||||||||
24 | 0.85 | % | 2.82 | % | 3.43 | % | 2.87 | % | ||||||||||||||||||||||||||||
25 | 0.84 | % | 2.85 | % | 3.38 | % | 2.87 | % | ||||||||||||||||||||||||||||
26 | 0.84 | % | 2.82 | % | 3.40 | % | 2.88 | % | ||||||||||||||||||||||||||||
27 | 0.83 | % | 2.79 | % | 3.38 | % | 2.89 | % | ||||||||||||||||||||||||||||
28 | 2.77 | % | 3.37 | % | 2.88 | % | ||||||||||||||||||||||||||||||
29 | 2.75 | % | 3.33 | % | 2.89 | % | ||||||||||||||||||||||||||||||
30 | 2.80 | % | 3.31 | % | 2.90 | % |
| 11 | Cumulative net charge-offs (as a % of aggregate original principal balance) are only included for those vintages and months since origination for which performance history exists for each loan of such vintage over such number of months since origination. |
Term Loan Annualized Net Charge-Offs Experience12
| As of 2/29/24 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||
Average Number of Term Loans Outstanding | 19,496 | 19,036 | 15,168 | 10,393 | 15,214 | 20,913 | 19,319 | |||||||||||||||||||||
Average Aggregate Unpaid Principal Balance | $ | 1,018,970,109 | $ | 993,254,961 | $ | 758,587,857 | $ | 442,684,455 | $ | 632,006,246 | $ | 867,112,999 | $ | 834,373,964 | ||||||||||||||
Net Charge-offs | $ | 35,733,899 | $ | 179,053,095 | $ | 79,759,902 | $ | 24,065,421 | $ | 132,424,601 | $ | 129,489,502 | $ | 101,464,659 | ||||||||||||||
Annualized Net Charge-off Rate | 3.51 | % | 18.03 | % | 10.51 | % | 5.44 | % | 20.95 | % | 14.93 | % | 12.16 | % |
Line of Credit Annualized Net Charge-Offs Experience13
| As of 2/29/24 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||
Average Number of Lines of Credit Outstanding | 18,180 | 18,198 | 18,196 | 15,883 | 16,262 | 16,089 | 13,958 | |||||||||||||||||||||
Average Aggregate Unpaid Principal Balance | $ | 301,425,706 | $ | 295,547,685 | $ | 230,440,737 | $ | 167,302,531 | $ | 215,177,950 | $ | 226,832,530 | $ | 148,836,152 | ||||||||||||||
Net Charge-offs | $ | 9,464,559 | $ | 42,524,402 | $ | 14,719,938 | $ | 7,849,107 | $ | 32,804,478 | $ | 22,555,856 | $ | 12,410,990 | ||||||||||||||
Annualized Net Charge-off Rate | 3.14 | % | 14.39 | % | 6.39 | % | 4.69 | % | 15.25 | % | 9.94 | % | 8.34 | % |
| 12 | The historical information in this table reflects net charge-offs in respect of the Term Loan Comparable Serviced Portfolio that were charged-off by the Seller and/or On Deck Capital, Inc in accordance with its then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller and/or On Deck Capital, Inc in accordance with its Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3. |
| 13 | The historical information in this table reflects net charge-offs in respect of the Line of Credit Comparable Serviced Portfolio that were charged-off by the Seller in accordance with its then-existing policies and procedures. A Pooled Loan will be deemed a Charged-Off Loan under the Indenture if it is charged-off by the Seller in accordance with its Credit Policies or it has a Missed Payment Factor (i) in the case of Daily Pay Loans, higher than 60, (ii) in the case of Weekly Pay Loans, higher than 12 and (iii) in the case of Monthly Pay Loans, higher than 3. |
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Enova International Inc. published this content on 06 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2024 16:58:06 UTC.
