What risks does Gaya anticipate in bundling insurance and financing, and how do they plan to mitigate them?

Obviously, there will be some seniority in terms of which one needs to be satisfied first. But that could be a moment where we call the customer and pitch a new refinancing deal that would push the loan term a bit, give the customer a month of a breather, let them continue on their insurance. Or, have a kind of a case by case, but scalable discussion. This is the nature of what we would be considering here. 

When it comes to the legality of it, historically, bancassurance wasn't very much liked in the US before the 1990s. Bancassurance, meaning the bank selling you the insurance. Because the banks would use the insurance and price it or could price it in a way such that the customer had to buy it so that they could get the financing for their house report.

So bancassurance wasn't the same, and then they let it in. And a lot of banks started buying insurance agencies and they didn't know how to run them well. Then insurance carriers also launched banks, because now there’s a kind of a bilateral relationship between the two. 

From that, we see that we definitely have to be very cautious about everything from a regulatory perspective. But we don't see any major red flags, just that it should be done in a very tidy way, in a very serious way, state by state.