B

Portfolio

As of June 30, 2026 · reconciled to servicing, capital markets, and compliance views.

Net receivables
$148.2M
LTM originations $265M
Active loans
2,340
Weighted avg term 9.3 months
Weighted avg APR
11.4%
5.9% add-on equivalent
Annualized net loss
12 bps
Return premium recovered on 97% of cancelled balances
30+ DPD1.9%
In NOIC1.8%
WA parity coverage141%
Avg down payment24.6%
Static-pool cumulative net losses

Net losses: 12 bps

Basis points of original pool, by months since origination · shaded band shows industry normal-year range

industry normal-year range 9-18 bps0 bps10 bps20 bps30 bpsM0M3M6M9M12M15M18months since originationseasoningQ2 '24: 32 bpssingle-agency event
Cohorts
Q2 '24
Q4 '24
Q1 '25
Not fully seasoned — losses surface at months 15-18. Toggle "Show all cohorts" to reveal younger vintages (dotted).
Q2 '24 stressed
Plateau 32 bps · single-agency event · recovered 71% via deficiency collections.

Top exposures

% of net receivables against concentration limit (dashed line)

Carrier limit: 25%
ScottsdaleA+
18.4% · $27,268,800
KinsaleA
15.2% · $22,526,400
NautilusA+
12.7% · $18,821,400
LexingtonA
11.1% · $16,450,200
EvanstonA
9.6% · $14,227,200
Western WorldA
8.3% · $12,300,600
ColonyA-
6.4% · $9,484,800
AtainA-
5.1% · $7,558,200
Century SuretyA-
3.8% · $5,631,600
James RiverA-suspended
1.6% · $2,371,200

UEP receivable aging

Unearned-premium collections outstanding from carriers

$412,900 total
0-30 days$305,000Current
31-60 days$86,000On watch
61-90 days$18,000Follow-up sent
90+ days$3,900Demand letter
Daily UEP reconciliation: expected vs received delta $0.00 — all breaks cleared.

Cash application today

312 receipts · auto-matched 98.7% ($1,240,000)

Auto-matched
98.7%
$1,240,000
Exceptions
4
3 shown below
Unapplied cash
$18,341
oldest 3 days
ACH 88214-1 · $6,412.55
Short-pay vs monthly on PF-2298
SuggestedApply $6,412.55 to PF-2298, invoice residual $17.10
WIRE 51-2266 · $22,800.00
No loan reference; borrower name matches 2 accounts
SuggestedApply to PF-2266 (Cascade GC) — exact monthly match
LOCKBOX 4471 · $1,820.42
Overpayment on PF-2141
SuggestedApply $1,650.00 to PF-2141, refund balance $170.42

Route mix

Direct Bill62%
Agency Bill — Item27%
Account Current11%
Account Current exposure
$1,900,000 exposure · avg confirm lag 22 days.

Servicing-ops activity

Latest events across cash, NOIC, and agency monitoring

Live
  1. UEP received — Kinsale $8,412 vs est $8,395 · $17 favorable break cleared
    14 min ago
  2. ACH settled — PF-2298 $6,204.71 · return window ends 07/08
    38 min ago
  3. T. Schapiro approved PF-2311 with conditions · 30% down, 8-mo term
    1 hr ago
  4. Agency limit alert — Coastline Risk Advisors at 13.8% of book (limit 15%)
    2 hr ago
  5. NOIC cured — PF-2287 paid $4,112 on day 8 of 10 · loan reinstated
    3 hr ago
  6. NOIC issued — PF-2264 · Scottsdale · cancel effective 07/12 if uncured
    5 hr ago
  7. Funded PF-2309 $34,080 · Grove Street HVAC · Amwins / Colony
    Yesterday
  8. James River runoff — PF-2108 UEP received $12,406 · 3 loans remaining
    Yesterday