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OneMain Holdings

OneMain holdings 10-k extract

Overview


As the nation’s largest lending-exclusive consumer finance company, we:
• provide responsible personal loan products;
• offer optional credit insurance and other products;
• service loans owned by us and service loans owned by third-parties;
• pursue strategic acquisitions and dispositions of assets and businesses, including loan portfolios or other financial assets; and,
• may establish joint ventures or enter into other strategic alliances.
$18.4 billion of personal loans from approx 2.44 million customer accounts.
1500 branches in 44 stated

Risk factors

Risk factors highlight, directly quoted from their own 10-k:
adverse changes in general economic conditions, including the interest rate environment and the financial markets;
increased levels of unemployment and personal bankruptcies
risks related to the acquisition or sale of assets or businesses or the formation, termination, or operation of joint ventures or other strategic alliances, including increased loan delinquencies or net charge-offs, integration or migration issues, increased costs of servicing, incomplete records, and retention of customers;
adverse changes in the rate at which we can collect or potentially sell our finance receivables portfolio;
natural or accidental events such as earthquakes, hurricanes, tornadoes, fires, or floods affecting our customers, collateral, or our branches or other operating facilities;
war, acts of terrorism, riots, civil disruption, pandemics, disruptions in the operation of our information systems, or other events disrupting business or commerce;
our credit risk scoring models may be inadequate to properly assess the risk of customer unwillingness or lack of capacity to repay;
adverse changes in our ability to attract and retain employees or key executives to support our businesses;
changes in federal, state, or local laws, regulations, or regulatory policies and practices that adversely affect our ability to conduct business or the manner in which we currently are permitted to conduct business, such as licensing requirements, pricing limitations or restrictions on the method of offering products, as well as changes that may result from increased regulatory scrutiny of the sub-prime lending industry, our use of third-party vendors and real estate loan servicing, or changes in corporate or individual income tax laws or regulations, including effects of the Tax Act;
our inability to successfully implement our growth strategy for our consumer lending business or successfully acquire portfolios of personal loans;
declines in collateral values or increases in actual or projected delinquencies or net charge-offs;
our continued ability to access the capital markets and maintain adequate current sources of funds to satisfy our cash flow requirements;
our ability to generate sufficient cash to service all of our indebtedness;
any material impairment or write-down of the value of our assets;
the ownership of OMH's common stock continues to be highly concentrated, which may prevent other minority stockholders from influencing significant corporate decisions and may result in conflicts of interest;
our substantial indebtedness, which could prevent us from meeting our obligations under our debt instruments and limit our ability to react to changes in the economy or our industry or our ability to incur additional borrowings;
the effects of any downgrade of our debt ratings by credit rating agencies, which could have a negative impact on our cost of and/or access to capital;
our ability to maintain sufficient capital levels in our regulated and unregulated subsidiaries;

If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. You should specifically consider the factors identified in this report that could cause actual results to differ before making an investment decision to purchase our securities and should not place undue reliance on any of our forward-looking statements. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us.

Ownership

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The trade

At December 31, 2019, the Apollo-Värde Group owned approximately 40.4% of OMH’s common stock and is OMH’s largest stockholder.
Low trading volume, could be an issue and maybe movement would only be seen right after earnings if everything is owned by old farts somehow related to the company.

What happens if operations are halted? How fast will they go bankrupt?
Rated AAA by WS.
Required to maintain cash reserves for insurance leg.
Low trading volume, could be an issue and maybe movement would only be seen right after earnings if everything is owned by old farts somehow related to the company.
Earnings call 4th may.
Is OneMain Holdings stock covering both OneMain and the other?
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http://investor.onemainfinancial.com/Doc/Index?did=57119854
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