Regional Management Corp. (RM) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.385 And we've said that as our fixed rate funding, which is currently at 90% 00:00:05.385 -- 00:00:11.401 at the end of the quarter, but as our fixed rate funding from prior years matures, 00:00:11.401 -- 00:00:16.977 that you will see cost of funds go up. our 00:00:16.977 -- 00:00:22.505 pricing in terms of where we are, you know, you'll see seasonal fluctuations of that, 00:00:22.505 -- 00:00:26.971 but we did make some pricing changes and you're seeing that most of those are fully in 00:00:26.971 -- 00:00:31.478 the portfolio. What I would take into account, though, is, you know, we talked a lot 00:00:31.478 -- 00:00:36.582 about our higher margin, higher rate business. 00:00:36.745 -- 00:00:40.331 So I would take that into account and then you have to balance that with our barbell 00:00:40.331 -- 00:00:45.440 strategy where we do auto-secured loans, which have lower yields, 00:00:45.440 -- 00:00:49.224 but of course have lower net credit losses as well. 00:00:49.224 -- 00:00:52.868 Yeah, and Kyle, I'll just add, as you think through the rest of the year beyond the second 00:00:52.868 -- 00:00:58.514 quarter, very much where yields go will depend on any 00:00:58.514 -- 00:01:03.139 adjustments we want to make to the underwriting side, depending on how macro conditions 00:01:03.139 -- 00:01:08.165 unfold. So a little hard to predict, you know, at this point in time, 00:01:08.165 -- 00:01:11.564 where you may tighten or not. So I think that's... 00:01:11.564 -- 00:01:15.788 that's kind of the best direction we can give you at this point. 00:01:16.073 -- 00:01:18.517 Got it. And that's a good segue to my next question. 00:01:18.517 -- 00:01:21.964 I mean, just asking, I mean, you guys obviously have a broad-based portfolio. 00:01:21.96...