Well, that was a fun earnings. SoFi did everything right in 3Q23 in my opinion. Here were my earnings projections vs SoFi’s actual performance: Members: Projection 565k new members Actual: 717k new members Personal loan originations: $3.8B Actual: $3.88B
Hey Chris, also this from Chris Lapointe, in context of hitting cap rates.
"And then third, the size of our loan book and the relatively short duration of personal loans, in
particular, the amortization on a quarterly basis is quite material now. Between our personal
loans business and the student loan refinancing business in quarter three, amortization or
paydowns was $2 billion or $8 billion on an annualized basis. "
I am assuming above means we are able to recycle $2B back, correct?
Thank you, great read as always!