Thank you for this update Mike.
This is the second occurrence of a lack of transparency from a borrower or a lack of auditing capability from Goldfinch. We can all appreciate that Warbler Labs will backstop the loss, but it is increasingly worrying to discover a complete lack of control from the loan underwriter, especially in the context of Stratos being an equity investor in Goldfinch.
When can Warbler Labs conduct an extensive audit of the current borrowers’ financial stability and identification of potential breaches of their loan agreements? It would be reassuring to have a comprehensive overview of the loan book, rather than discovering every 2 months that a borrower experienced another default.