Dynamic Credit is an asset manager that started in New York but has strong European ties; they have launched their...
We are living in times of extremes, particularly when it comes to economic data, and this is reflected in the...
Bernie Sanders and Rep. Alexandria Ocasio-Cortez are planning to propose legislation to cap rates on credit cards and consumer loans...
Goldman Sachs continues to expand into consumer lending and plans to offer home improvement loans this month; the loans are non-secured personal loans with interest rates lower than credit cards but higher than HELOCs; the company believes the quick financing time will be attractive compared to a HELOC. Source
The BBC reports on the practices of internet lenders, noting that borrowers should be cautious when searching for online loans in order to protect their credit scores; TSB says some loan providers issue a hard inquiry for a loan price or quote which can harm borrowers who are only considering loan options; the bank is lobbying for more regulated practices and says, "Personal loans providers must agree never to perform a hard credit check until the customer chooses to actually purchase a loan in full knowledge of the price being offered." Source
LendingClub provided an investor update in a blog post yesterday that demonstrates the resilience of their borrower base; the company...
LendingPoint has closed two securitizations, one composed of direct to consumer loans and the other of point of sale loans;...
Recent research shows that younger consumers are uncomfortable with carrying credit card balances; consumers are more comfortable with products like personal loans that are more transparent and easier to understand; there has been an increased interest in point of sale financing; one company driving this trend is GreenSky which partners with banks to fund loans; the proportion of consumer loans going to point of sale financing has increased significantly at banks that partner with GreenSky including Regions, Synovus and Fifth Third. Source
Kroll Bond Rating Agency has assigned ratings for Avant's most recent securitization deal; the portfolio includes three tranches of consumer notes valued at $192.6 million; ratings for each of the three tranches are included in the chart above and range from A- to BB. Source
UK consumer lender Lending Works has lent over GBP50 million ($62.68 million) to UK consumers, also reporting over 10,000 clients; the firm's success has been helped by the launch of its innovative finance individual savings account which reported investments of approximately GBP1.5 million ($1.88 million) in the first 24 hours and has accumulated investments of over GBP8.8 million ($11.04 million) since February 2017; the firm's chief executive says it expects to reach originations of GBP100 million ($125.36 million) very soon; business growth is also expected to be helped by a new loan offering partnership with Revolut. Source