Case Studies

Steering a Mid-Prime Lender Through a Credit Storm In early 2023, a mid-prime personal loan provider specializing in debt consolidation found itself in a rapidly deteriorating credit environment. Originations had peaked at $100M per month but had fallen to $20M per month and losses were climbing at an alarming rate. As pandemic-era stimulus faded, cohorts originating after 2020–2021 began performing dramatically worse than expected — with loss rates 50–75% above plan. Volatil