Scott Sanborn

We hold that first.

You own it.

We own it.

We make sure it performs the way we expect, and then we release that to the marketplace.

If you don't have a balance sheet, you can't really do that.

And so that's visible in our results across every aspect of underwriting.

lower delinquencies than the rest of the industry, 30 or 40% below, lower roll rates, higher recovery rates, lower prepayments, lower fraud, literally every aspect that you can measure of credit we're outperforming on.

Yeah.

So that's been consistent for, you know, we, we released four years of data and we put out there and so it's remained consistent, but you know, it's not, it's kind of like a duck on a pond it's remained consistent because we're doing a lot of work underneath the cover.

So,

You know, something that we shared in Investor Day is at any given time, we have more than 200 tests in the market where we're evaluating price points, changes to the credit.

So we're constantly adjusting to reflect what's happening with the consumer.

And that's what's giving us the consistent results.

That's true.

We are.

Yeah, so we're pretty good at selecting who we want to have in our portfolio and reaching out to those people.

And then both delivering the price and product experience, but also let's call it the user experience that gets them all the way through.

So we look for...

areas where, for example, we can control the use of the fund proceeds.

If you come to me and say, I want $20,000 because I'm going to do whatever.