Investor Presentaiton
Personal loan cumulative net loss
•
OneMain vintage CNL performance well below worst Financial Crisis vintage (2008)
•
All vintages a fraction of lowest tranche class D rating agency (BBB-) 30.3% first dollar loss stress¹
OMFIT 2023-2 AAA bond would require cumulative net losses to exceed ~50% for any principal loss
35.0%
30.0%
OneMain combined PL annual vintage cumulative net loss²
OMFIT 2023-2
Rating Agency Class D
'BBB-' Curve³
25.0%
20.0%
15.0%
10.0%
5.0%
0.2%
7.6%
7.6%
2008 Vintage
9.1%
0.0%
0
3
6
9
12
15
18
21
24
27
30
33
36
39
42
45
48
51
54
2008
2015
2016
2017
2018
2019
2020
2021
2022
S&P Curve
OneMain Financial.
1. Source: Internal Company Analysis.
2. Combined annual "OMH" Personal Loan (Unsecured and Secured Personal) Cumulative Net Loss; Legacy OneMain "OMFH" reflects Gross Loss until system conversion (1Q2017).
3. Ending CNL after recoveries of 29.1%.
30.3%
15.8%
11.5%
10.2%
11.5%
11.0%
40
57
60
27View entire presentation