Heritage Global Inc.

Please go ahead, your line is open.

Hey guys, appreciate you taking the questions. So it seems like overall the debt market is, you have a solid positioning there. I'm just curious, I would like to hear a little bit more on the trends that you're seeing, notably in NLEX and also the DedEx business on the commercial residential side.

So on the NLEX side, We have a really, really strong pipeline now. It's led by subprime auto. It changes quarter to quarter and year to year based upon everything out there and where the supply is. We still have plenty of headroom in the credit card sector. We have plenty of headroom and some new wins in the buy now, pay later sector. And we have some of our clients that are expanding the amount of assets they're giving us. So overall, I think it's a very healthy place to be right now. We're very busy on all fronts. If you said, what are we leading with right now? I think the subprime auto loans would be at least our leader over the next quarter or two of where we think there's the most expansion in But we're looking at everything there. And we're also doing some HELOC loans and a lot of diversified loans. On the DedEx side, we had a slow start that's rapidly picking up. We're looking right now at very high prospects for Q2 that we're excited about bringing to fruition. The slow start sometimes can just be after an M&A deal. And it can also be after the fact that sometimes, you know, the lenders and everybody just don't get out the gate selling. They get out the gate figuring out what they want to sell. So a lot of times you have a first 90 days where they're doing the in-house analytics and then bringing the product to market. That sales staff is out every day talking to people. We've signed up a bunch of business partners. I don't think there's any one single CRE sector that's dominated. And that's kind of good news that it's very diverse and across the board. We have some very large deals and some smaller deals. And on the good side, they're coming from not just banks, but they're coming from specialty lenders and non-banks and insurance companies. So we've really got a broad-based offering in Q2 and beyond. And it's kind of why we're optimistic. I'll end it there.