EX-99.1 2 a19-1regfddisclosurereoffe.htm EXHIBIT 99.1 Exhibit


Exhibit 99.1
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 the Company's daily and weekly 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 
 
9/30/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Number of Term Loans Outstanding
20,491
21,155
17,892
20,261
17,221
11,973
5,948
Aggregate Unpaid Principal Balance
$853,279,590
$892,939,732
$776,780,205
$997,991,044
$788,686,015
$493,772,084
$202,239,397
 
 
 
 
 
 
 
 
Unpaid Principal Balance of Past Due Term Loans
 
 
 
 
 
 
 
1-14 missed payment factor
$15,641,468
$29,504,036
$38,494,069
$38,626,280
$34,274,349
$27,899,490
$11,182,821
15-30 missed payment factor
$18,455,562
$20,378,959
$17,032,209
$20,684,600
$13,552,302
$9,530,097
$4,495,233
31-45 missed payment factor
$13,061,483
$13,772,105
$10,710,247
$15,652,409
$10,830,661
$7,150,275
$2,791,401
46-60 missed payment factor
$12,271,121
$12,410,006
$7,906,808
$13,730,940
$8,536,446
$5,114,054
$2,436,183
61+ missed payment factor
$56,789,762
$30,730,149
$18,857,558
$13,946,663
$11,655,021
$7,687,310
$3,175,836
 
 
 
 
 
 
 
 
Term Loans past due as a % of Unpaid Principal Balance
 
 
 
 
 
 
 
1-14 missed payment factor
1.83%
3.30%
4.96%
3.87%
4.35%
5.65%
5.53%
15-30 missed payment factor
2.16%
2.28%
2.19%
2.07%
1.72%
1.93%
2.22%
31-45 missed payment factor
1.53%
1.54%
1.38%
1.57%
1.37%
1.45%
1.38%
46-60 missed payment factor
1.44%
1.39%
1.02%
1.38%
1.08%
1.04%
1.20%
61+ missed payment factor
6.66%
3.44%
2.43%
1.40%
1.48%
1.56%
1.57%













______________
1)
The delinquency experience is measured by the missed payment factors of the loans. 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.




Line of Credit Delinquency Experience2 
 
9/30/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Number of Line of Credit Loans Outstanding
16,645
15,453
13,363
12,329
7,555
3,054
312
Aggregate Unpaid Principal Balance
$248,649,276
$182,848,272
$126,009,202
$109,019,568
$60,855,462
$24,175,489
$2,394,294
 
 
 
 
 
 
 
 
Unpaid Principal Balance of Past Due Lines of Credit
 
 
 
 
 
 
 
1-14 missed payment factor
$4,577,766
$3,357,156
$2,598,573
$3,195,409
$4,407,729
$1,771,816
$75,259
15-30 missed payment factor
$2,965,415
$2,231,155
$1,733,121
$1,497,065
$1,161,555
$386,131
$38,535
31-45 missed payment factor
$2,485,155
$1,815,421
$1,438,543
$1,322,353
$599,079
$234,963
$0
46-60 missed payment factor
$2,086,361
$971,428
$1,263,249
$1,326,815
$690,041
$190,088
$0
61+ missed payment factor
$5,793,982
$4,444,421
$1,739,408
$855,063
$671,455
$480,289
$0
 
 
 
 
 
 
 
 
Lines of Credit past due as a % of Unpaid Principal Balance
 
 
 
 
 
 
 
1-14 missed payment factor
1.84%
1.84%
2.06%
2.93%
7.24%
7.33%
3.14%
15-30 missed payment factor
1.19%
1.22%
1.38%
1.37%
1.91%
1.60%
1.61%
31-45 missed payment factor
1.00%
0.99%
1.14%
1.21%
0.98%
0.97%
0.00%
46-60 missed payment factor
0.84%
0.53%
1.00%
1.22%
1.13%
0.79%
0.00%
61+ missed payment factor
2.33%
2.43%
1.38%
0.78%
1.10%
1.99%
0.00%

















______________
2)
The delinquency experience is measured by the missed payment factors of the line of credit loans. 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. Historically, line of credit loans have been weekly pay loans.




Term Loan Cumulative Net Charge-Off Experience3 
Originations Vintages (based on calendar year or quarter)
 
2019 Q3
2019 Q2
2019 Q1
2018
2017
2016
2015
2014
2013
Number of Loans Originated
7,251
6,920
7,899
31,115
24,707
28,154
26,538
18,143
8,999
Aggregate Original Principal Balance ($)
$444,640,061
$403,533,645
$448,541,660
$1,836,698,494
$1,570,601,965
$1,883,389,824
$1,582,010,539
$956,825,733
$394,061,599
Weighted Average Term
13.7
12.3
11.7
11.8
12.3
13.4
12.6
11.5
10.4

Cumulative Net Charge-Offs (as a percent of aggregate original principal balance)4 
Months since origination
 
 
 
 
 
 
 
 
 
1
0.00%
0.00%
0.00%
0.01%
0.00%
0.00%
0.00%
0.00%
0.00%
2
 
0.08%
0.04%
0.04%
0.01%
0.01%
0.01%
0.00%
0.00%
3
 
0.08%
0.18%
0.10%
0.03%
0.03%
0.04%
0.00%
0.00%
4
 
0.22%
0.27%
0.28%
0.28%
0.17%
0.15%
0.15%
0.20%
5
 
 
0.56%
0.81%
1.05%
0.76%
0.67%
0.68%
0.91%
6
 
 
1.34%
1.75%
1.97%
1.84%
1.31%
1.62%
1.89%
7
 
 
2.13%
2.77%
2.81%
3.00%
2.21%
2.58%
2.84%
8
 
 
 
3.78%
3.57%
4.30%
3.15%
3.47%
3.83%
9
 
 
 
4.64%
4.24%
5.32%
3.93%
4.11%
4.48%
10
 
 
 
5.39%
4.79%
6.21%
4.68%
4.74%
4.88%
11
 
 
 
 
5.21%
6.79%
5.31%
5.13%
5.29%
12
 
 
 
 
5.49%
7.32%
5.68%
5.40%
5.79%
13
 
 
 
 
5.72%
7.76%
6.03%
5.66%
6.12%
14
 
 
 
 
5.89%
8.10%
6.32%
5.78%
6.32%
15
 
 
 
 
6.05%
8.34%
6.51%
6.02%
6.44%
16
 
 
 
 
6.13%
8.43%
6.65%
6.19%
6.46%
17
 
 
 
 
6.20%
8.53%
6.71%
6.31%
6.44%
18
 
 
 
 
6.26%
8.62%
6.79%
6.39%
6.45%
19
 
 
 
 
6.30%
8.65%
6.85%
6.43%
6.49%
20
 
 
 
 
6.31%
8.68%
6.90%
6.48%
6.55%
21
 
 
 
 
6.31%
8.70%
6.92%
6.49%
6.57%
22
 
 
 
 
6.29%
8.69%
6.95%
6.50%
6.56%
23
 
 
 
 
 
8.66%
6.94%
6.51%
6.61%
24
 
 
 
 
 
8.65%
6.94%
6.52%
6.63%
25
 
 
 
 
 
8.63%
6.93%
6.53%
6.64%
26
 
 
 
 
 
8.61%
6.92%
6.53%
6.68%
27
 
 
 
 
 
8.59%
6.91%
6.53%
6.72%
28
 
 
 
 
 
8.58%
6.91%
6.54%
6.72%
29
 
 
 
 
 
8.55%
6.91%
6.53%
6.72%
30
 
 
 
 
 
8.54%
6.89%
6.53%
6.73%

__________________________
3)
The historical information above reflects net charge-offs for a specific subset of the Company’s daily and weekly pay U.S. term loans, 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 that were charged-off by the Company in accordance with its then-existing policies and procedures. 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.
4)
Cumulative net charge-offs (as a percent 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 Experience5 
 
2019YTD
2018
2017
2016
2015
2014
2013
Average Number of Term Loans Outstanding
21,307
19,335
19,615
18,642
14,995
8,689
3,938
Average Aggregate Unpaid Principal Balance
$873,292,318
$834,675,250
$879,986,117
$894,315,290
$643,427,809
$331,393,502
$127,298,590
Net Charge-Offs
$95,061,791
$97,059,913
$155,983,195
$124,071,489
$78,230,361
$33,431,578
$12,132,234
Annualized Net Charge-Off Rate
14.51%
11.63%
17.73%
13.87%
12.16%
10.09%
9.53%
 
 
 
 
 
 
 
 


Line of Credit Annualized Net Charge-Offs Experience6 
 
2019YTD
2018
2017
2016
2015
2014
2013
Average Number of Lines of Credit Outstanding
16,153
14,201
12,853
10,146
5,333
1,492
145
Average Aggregate Unpaid Principal Balance
$219,677,237
$150,648,275
$117,480,376
$87,969,645
$41,610,682
$11,640,009
$1,024,526
Net Charge-Offs
$15,982,922
$12,591,655
$16,881,117
$11,604,201
$5,357,674
$1,006,272
$0
Annualized Net Charge-Off Rate
9.70%
8.36%
14.37%
13.19%
12.88%
8.64%
0.00%
 
 
 
 
 
 
 
 



























__________________
5)
The historical information in this table reflects net charge-offs for a specific subset of the Company’s daily and weekly pay U.S. term loans, 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 that were charged-off by the Company in accordance with its then-existing policies and procedures.

6)
The historical information in this table reflects net charge-offs for a specific subset of the Company’s daily and weekly pay U.S. line of credit loans, 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 that were charged-off by the Company in accordance with its then-existing policies and procedures.