Deal with MA Financial Group worth a rerate

Not sure if everyone gets how game-changing this partnership deal is. My 2 cents below.

Humm's commercial business has been performing tremendously well, however it is held back by 2 major issues that I believe this deal will solve.

1. Capital restraints - Commercial has to continuously source capital and securitise its on-the-book loans. This hasn't been a major issue, but it does slow down deal flow, and restrict how much they can lend

2. Profits from loans made today will only be reflected on the P&L in the years to come as they collect the interest. Moreover, they have to provision the losses upon writing the loans (affecting statutory profit)

The deal with MA Financial eliminates both these issues. Now Humm can write as much commercial paper as it wants, plus it collects the fees and profits up front. As a bonus no provisions and risk for losses needed.

I'm holding past $1.00