The Ledger
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Gutierrez: The most valuable credit underwriting data comes from booking bad loans
“What we learned there was like, you know, that sounds great, but actually what you need to do is just book some bad loans. Because you learn a lot from the loan, you know, you just make some loans, and then as you make some bad loans, you learn a lot. So, agai…”
Gutierrez: Lenders need roughly 1,000 defaulted loans to build a risk model
“What I kind of, you know, coalesced around was you needed about a thousand bads. So you got to basically make, you know, and if you want to have at least a starting business where it's not like 80% losses, so let's say it's 10%, That means you have to make, li…”