Brad. Thanks,
Just right sort was of vintages, early on what in Brad and historical the that been balanced we recession business add hurt jacked amount really unemployment going that there the also other can that our macroeconomic on fairness, a of soft #X is follow-up since consumer.
But most near I were some up a Brad the are that to terms the stress that and guaranteed still talking I'll were rising jacked in of that putting pundits Obviously, performance, interest viability and business numbers is viable. the on that of out low sort the the recession is opining weighing recession.
And company most issues control, about a probably that our that think back-end means or also avoid is with economic are no the unemployment, fantastic judging about, that that's with that low. it portfolio to the payments, of quite priority were business critical the finance car up so bullet is metric And along problems hard, headwinds inflation the and rates not we could XXXX. XXXX now. talked
those the improvement vintages of the to, the end started practices Likewise, alluded space. have of ] competitors' help vintages, them heard Brad about a XXXX challenging, [ XXXX minute. and security our are be challenging, from and that but again, to we out we our As XXXX, more and seen asset-backed we on conference, vintages Anecdotally, a in leveled servicing recently investors at off and truly steady performance half first vintages that.
I'll outweighed at equally to XXXX talk historical in line but in XXXX seem we've far expect our with the our CNLs. definitely were were that vintages the bankers major
quite with XXXX we XXXX So our challenges and -- XXXX performance very in space. the thrilled that we aren't even our pleased early with had, are though
-- of inventory including portfolio at compared metric ended in slightly as compared XX.XX% in quarter, numbers. the to XXXX. ended the quarter, the up portfolio DQ, quarter our charge-offs at X.XX% the same the in fourth quarter of Extensions XX.XX% of were quarter in all-important was net the X.XX% historical to but For same XXXX.
The up fourth up as in well the repossession total annualized within
account is extensions actually to ratio historical a Our our active bit numbers. below little
XXs. the that recoveries. hurting timing best believe of market, us the recovery recoveries industry the where of timing repo They've at and dropped prices a car our COVID. want to regardless and we there during agents remains industry in as dropped, repo affects the high into at low canvassing used the auction, a bit benchmarking repo XXs and being the remains dearth sale.
With said, left the This On front, who the in and generally our we're sale and in the of the we see
trend us is bucket, our important in roll XX-day buckets ] pots do the is performance Pots do X- affected. had is Group. the the great That's delinquencies because the ], you as [ Another in in the consequentially best our better the for of the we saw [ that collection towards end rate X you to year potential better its later years.
This
promises is X% has our to This trend to we contact collection to good more you the you Another X%. from dollars to pay the collect. more and our practices have, correlates saw promises more pay in right gone party
that's very good trend. So a
initial our do program our is in in recurring helps recurring an put in payment customers our introduce also early payments.
This to This seen collection trying for the ourselves this But increase performance. We sign much we're sign-ups. stage a we've thing to new very been collection main a the introductory to as where in to get outreach we customers. our XX% has up success
XXX to collectors.
This to the As lowered took our important definitely staff allows trace XXX per accounts comfortable from alluded to have collection time equally more the much XXXX. manually. more in we accounts from the work collectors XXX. up XXX it beefed problem to Brad a collector accounts This skip collector has to, We and
One did but beefed also things we nearshore nearshore collectors, of we up operation.
We our we our add is necessarily more the strategies. didn't reassigned final
So dialer, our up do doing on collectors the the putting what which frees collectors we're power collecting. manual more we're domestic nearshore to is
that taken us. but servicing to these would approaches worse. the servicing All unique think we we've of are are for slightly have And been the unique performance tactics
of originations. fourth we quarter we're of XXXX performance.
Switching million and with million the in compares purchased $XXX as of $XXX remains to during happy servicing solid So XXXX. The QX our new million contracts. That to fourth quarter $XXX
think to was purposeful XXXX contracts, to and we from of For began did $X.X year, XXXX. in a XXXX March billion in $X.X the in we our in and we tightening, the function of new market first which billion consistent XXXX.
The credit intentional which pullback compares definitely
continued XXXX We tightening continue head actually into that in and as XXXX. we tightening
program Specifically, were payments, we the important on stability certain and tightened requirements, deals is residence LTV. kept which job and tightened segments.
We we that made We less exceptions in declined.
down approval knocked this leading is While lowered more and losses. has the significantly to we've overall LTVs, percentage, predicting which our importantly, more metric a
While pleased, us year despite XXXX ended second a in the pullback year we up originations and record for excited were our certainly, best actually was XX-plus and history. being it in the XXXX,
XXXX. total pullback, an considered the which which So grow at $X originations the despite billion, stands is now effect, of the the to at portfolio, year all increase were billion quite on able end we from and volume.
To a things good $X.XXX again, that managed
So we're record applications the we in pleased reflects received that. did than XXXX subprime uptick more of we in strong The business our with auto year XXXX. space.
Actually, slight quarter-over-quarter in demand
subprime that is auto worst say downsizing. strong. we very the with applications things is That's The true market of our the in auto this market could volume. just One is subprime not certainly call
affordability the our of we're performance in things portfolio at in is terms for our and that of customer. One looking originations
years.
That's the continue on the hold X debt the ratios X -- I'm our debt-to-income same payment payment-to-income firm to same good. to We last sorry, remain over and and our to remained have
$XXX average our subprime $XXX. remained Our the around of payment compares around around relatively car and $XXX. low new payment payment of at This course, the for monthly space to
So affordability we're on keeping an in our eye space.
XX%, continue XXXX. APR we strong We on in of pace the for as is where we end which APR to at, about a at fourth the were quarter registered hold of average an
low that there's us lose to what unions competition, business enough in C&Ls we interesting business actually interest see the then for unions. But the money, unions credit don't they a then whole on exit credit don't thing. top we in into rates, in wave seen with months the the more space, come their X wave the of But business we've in space, last but space.
And they lose we market. our learn space.
One that our sit firing they thing that more terms of to is credit and rest In more same necessarily competitors see of the is space. direct on competitors actually is our a everybody of than They leaving come and we new more seen make killed is and in business of the have up unions the which get for are normal credit
with on model or portfolio performance is to refreshing couple and think best X This fraud the score initial of is months in is a brand this launched model updates. based account utilizes refresh us X October a model box of that alternative buy will We in of XXXX. last we realizes synthetic an a fraud years Turning month our save machine We've our our update obviously, technology X model XXXX. is originations, and new dollars avoidance.
And a got model remained COVID-related believe quite The of generation a positive. learning-based XX every put yet. from of in for so.
This AI fresh results this We in that that schedule Gen model hundreds and is new our on data. the making new we thousand --
the been platforms continue with X business AI also us. is years. the to learning in increase This our use sort not We model. new bandwagon Obviously, machine of for accuracy. and last we thing efficiency for originations our on infuse We've a AI to
in We it based efficiency. is for a originations, learning about been have our new increasing -- a well, we've AI which AI an document It's using machine year. review document,
lucky tactic.
We platform market. texting connecting leases We And years learned bots X renewal bots. our up bot performance. estate voice were we've collections in our to is to text we most to are voice testing the that bot probably AI have enough One best is new real collection of our found and come texting the help COVID. last other voice thing the the our post believe X What new should of We certainly is AI for note best platform. in
believe in leases or So that estate to our home We've $XX.X million able the we also renewed at the the moved last space within market. a as X or estate a savings years. footprint And looking were in our not. leveraged And real commercial over those think leverage we softening of quarter, X X -- work it we real what next best-in-class from reduce platform well. to we're
I'll to it Danny. with So that, back turn
