{
  "docId": "019dd923-622c-750b-8b97-bdec629bd70f",
  "docSlug": "441ad2469b6b",
  "documentTitle": "SoFi Technologies (SOFI)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Muddy Waters",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2026-03-17 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 21,
  "pageCount": 28,
  "prevPage": 20,
  "nextPage": 22,
  "slideType": "appendix",
  "function": "expose_contradiction",
  "density": "sparse",
  "nDataPoints": 0,
  "notes": "Includes footnotes 33, 34, and 35 detailing specific UCC filings and legal definitions.",
  "elementsJson": [
    "paragraph",
    "screenshot",
    "footnote"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b97-bdec629bd70f/21",
  "deckHref": "/decks/019dd923-622c-750b-8b97-bdec629bd70f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b97-bdec629bd70f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b97-bdec629bd70f#slide-21",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "CSS PL 2023-1 has never filed a UCC-3 termination statement, which should mean the original security interest was never released.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0391-77f4-a9e1-3b6c6d355132",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.78,
        "x": 0.11,
        "y": 0.23
      },
      "kind": "image",
      "text": "UCC-1 Financing Statement document excerpts",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "69dfe51d-e75d-48ee-9c4c-d76c11e337e4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.78,
        "x": 0.11,
        "y": 0.12
      },
      "kind": "paragraph",
      "text": "SOFI repeated the same maneuver three months later. On September 30, 2024, SOFI pledged CSS PL 2023-1 Pool Loan 2 to JPMorgan under the original December 20, 2023 Loan and Security Agreement.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fa371ac9-6877-413d-b2ce-813aaf2b190f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.78,
        "x": 0.11,
        "y": 0.76
      },
      "kind": "source-note",
      "text": "Footnotes 33, 34, 35 detailing UCC filings and termination statements.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d4a2575f-76c1-4820-8cfd-14c1cb103f93",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.11,
        "y": 0.09
      },
      "kind": "title",
      "text": "A.2. Q4 2024 Repetition",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "771025d0-10a0-4126-b4ab-54fde3d0cc08",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}