New Customer Growth
The company experienced the most new customer growth in the last 4 years, with a new customer portfolio 35% larger year-over-year.
Increased Origination Volume
New customer origination volume is up 40% year-over-year at the end of the second quarter and 35% year-to-date, reaching pre-COVID levels.
Record Loan Volume
Non-refinance originations increased 15% year-over-year in the second quarter, making it the highest volume second quarter on record, except for FY 2022.
Portfolio Growth
The portfolio grew nominally by 5.5% more this year compared to last year, ending the second quarter up 1.5% year-over-year.
Improved Capital Position
The company repurchased and canceled $170 million of bonds, stood up a $175 million warehouse facility, and completed a new credit agreement with increased commitments.
Share Repurchase Program
Repurchased 9.1% of shares year-to-date, with potential for a total repurchase of around 17.7% of outstanding shares.