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Nicholas Financial Inc. Message Board

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  • spin.vestor spin.vestor Nov 13, 2012 4:27 PM Flag

    Now the wheels come off

    I had a quick look at the delinquency reporting back in 2000 and its consistent with how they report it now. NICK are very good on the accounting disclosers and use conservative reporting. I didn't analyze the loan book back that far but my guess would be that they tightened up their underwriting when they came out of the 2000 recession -- so that may account for some of what you are seeing. Also the Manheim index went from 115 to 100 from 1999-03 causing loss rates to increase on repo sales driving higher net lossses.

    g/l NICKers!

    Spin

 
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