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Loans
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2.1KAuto Sub-Prime Loans Reach Lowest Level In 11 Years
A new report has revealed that auto sub-prime loans have reached their lowest level in 11 years. According to Experian’s Q3 2018...
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2.6KMortgage Applications Rise 2 Pct As Home Loan Costs Fall
The Mortgage Bankers Association revealed that U.S. borrowers filed the most mortgage applications for both new purchases and refinancing in nearly two...
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2.9KSoFi CEO Says Fed Rate Hikes Not A Threat
Anthony Noto, CEO of the financial company SoFi, said this week that his company is preparing for a landscape with higher interest...
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2.1KRising Interest Rates And The Changing Mortgage Market
Climbing interest rates are taking their toll on the number of consumers in the market for new home mortgages. Mortgage applications for...
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4.3KStudent Loan Delinquencies Rise To 9.1 Pct In Q3
Student debt in serious delinquency — 90 or more days — rose to 9.1 percent in the third quarter from 8.6 percent...
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3.1KFDIC Seeks Public Comment On Banks And Small-Dollar Loans
The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by...
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1.5KLoan Demand Shrinks In Argentina Post-Bailout
After a record $56 billion bailout — and interest rates that are now close to 70 percent — loans rates are down...
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3.8KWells Fargo Found More Customers Who Were Wrongly Foreclosed
Wells Fargo said Tuesday (Nov. 6) that an underwriting error internally prompted it to reject home loan modifications, which resulted in the...
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3.0KMoody’s Sees Improving Charge-Off Climate
Moody’s said in its latest reading of the “pulse of the consumer” that in viewing the charge-off rate, growth had slowed among...
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4.3KHSBC, Avant Team On Personal Loans
HSBC Holdings announced that it is teaming up with online lender Avant to offer unsecured loans to consumers. In the first half...
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2.5KOnDeck Launches ODX To Help Banks Lend To SMBs Online
OnDeck Capital has created a unit that will provide technology and services for banks lending to small businesses over the internet. Reuters,...
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3.3KNumber Of Chinese P2P Lenders To Drop Dramatically
The number of peer-to-peer lenders in China is projected to decline greatly to around 50 from more than 1,500 during the course...
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1.6KMortgage Rates Near 5 Percent For First Time In Several Years
Mortgage rates reached a high that hasn’t been seen in longer than seven years when they inched up close to 5 percent...
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5.0KGoldman Tightens Marcus Lending Reins
Goldman Sachs might be reining in its online lending platform due to concerns about the stage of the credit cycle and changes...
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2.6KDealers Changing Terms On New Car Financing
With interest rates rising, auto lenders are reigning in their 0 percent financing deals that have become the norm over the past...
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3.4KAvant Brings SaaS Lending Tech To Banks
Avant is best known among its financial services peers as a FinTech firm, founded to throw automation and an artificial intelligence (AI)-enhanced...
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3.2KFed Rate Hike Hits Consumer Confidence
Last week brought a confluence of economic headlines that are slated to hit the consumer right where it hurts: the wallet –...
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3.8KStripe Mulls Cash Advance Service For SMBs
Stripe, the digital payments startup, is reportedly testing a new cash advance service for its business customers. According to reports, the new...
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2.6KPublic Service Loan Forgiveness Program Accepts Few Applicants
To help manage their student loan debts, 28,000 borrowers have sent in 33,300 applications for the Public Service Loan Forgiveness (PSLF) program....
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4.2KChina’s X Financial Has A New US IPO And 400M P2P Leads
Peer-to-peer (P2P) lending in China is not for the faint of heart — and that’s putting it lightly. Banks offer credit limits...
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2.0KTurkey’s Central Bank Raises Rate Credit Card Lenders Can Charge
Turkey’s central bank announced effective in October it is raising the maximum interest rate credit card lenders can charge. According to a...
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3.0KCommunity Bank Lending To SMBs On The Upswing
New data shows that community banks lending to small businesses has increased in recent years. The U.S. Government Accountability Office (GAO) analyzed community bank...
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1.3KWonga Stops Taking New Loan Applications
Wonga, the U.K.-based payday lender, has halted accepting new loan applications. The Guardian, citing the company, reported that a statement on Wonga’s...
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2.0KUpgrade Is Upgrading The FinTech Lending Experience
When Renaud Laplanche launched hist latest lending start up, Upgrade, the venture was both quite similar to and yet quite different from...
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3.1KLaplanche’s Upgrade Raises $62M To Reinvent Consumer Credit
When Renaud Laplanche founded LendingClub 12 years ago in 2006, the lending landscape was a very different place. Most consumer and business...
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2.0KSoFi Eyes $1B Credit Line, Post Q2 Loss
Student loan refinancing company Social Finance (SoFi) is looking for a loan of its own: The company is in talks with banks...
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2.7KConsumer Borrowing Hits $13.29 Trillion In Second Quarter
American’s increased the amount of money they borrowed in the second quarter, with consumer borrowing reaching $13.29 trillion during the quarter ending...
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2.0KWells Considers Lending To Students With Government Debt
Wells Fargo might give its shrinking student lending business a boost by focusing on borrowers with U.S. government loans. The lender would...
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2.4KPE Firms Increase Their Business Lending Prowess
Private equity firms, driven in part by an influx of cash from investors looking for more yield on their investments, have been...
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1.7KWells Fargo To Pay More Than $2B Penalty Over Mortgage Loans
The U.S. Department of Justice (DOJ) announced that Wells Fargo will pay $2.09 billion in penalties to settle claims related to mortgage loans...
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4.0KLoan Defaults Plague Chinese P2P Industry
Investors have been withdrawing funds from peer-to-peer lending platforms amid a wave of defaults across the industry in China. According to a...
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2.6KSubstitute Ohio Payday Loan Bill Friendlier To Lenders
Senate Republicans expressed frustration because store owners still aren’t satisfied with the new payday lending bill, which is friendlier to lenders. “You...
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2.7KUS Business Loans Saw Second Quarter Uptick
In a sign of strength for the economy in the U.S. and welcome news for banks, business loans saw an uptick in...
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4.3KPersonal Loans Are The Fastest-Growing Lending Category
As a consumer lending category with the fastest growth, outstanding balances for personal loans jumped by about 18 percent to $120 billion...
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2.3K
Payday Loan Tycoon Charged With Bankruptcy Fraud
After allegedly creating millions of fake debts and selling them to bill collectors, payday loan magnate Joel Tucker was indicted on federal...
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3.0KTrump’s Small Biz Lending Bill Sees Approval From CBA
After the Senate passed legislation earlier this month that boosts the Small Business Administration’s lending authority, President Donald Trump signed that legislation...
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3.6KTexas Court Rules Against CFPB’s Payday Lending Act Delay
A Texas court ruled on Tuesday (June 12) against delaying the compliance date for the Consumer Financial Protection Bureau’s rule on payday...
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2.9KPayday Lending Changes In The Offing For Ohio
The Ohio House voted in favor of a controversial bill that will make significant changes to the payday and auto title lending...
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3.9KBlueVine CEO: The Real Value Of Invoice Factoring
The landscape in SMB lending is almost totally unrecognizable from what it was even a short five years ago, BlueVine Founder and CEO,...
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5.3K
Payday Lenders Buff Up Loan Products
Payday lenders are now offering an array of new financing products that are sending their stocks soaring. According to Bloomberg, Enova International...
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3.4K
Online Lending To Small Business Increases 50 Percent Between 2015 And 2017
Between 2015 and 2017, the amount of lending to small businesses by the five leading online lending providers increased 50 percent, according...
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Ohio Payday Loan Reform Supporters Get Green Light
Consumer advocates in Ohio were granted permission to start collecting signatures to get a constitutional amendment regarding payday loan reform on the...
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4.7KWill Consumers Take On Too Much Debt In 2018?
The rate of credit card delinquencies jumped 52 basis points (BPS) in the first quarter (Q1) of 2018, and will likely continue...
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6.4KAuto Loan Delinquency Rate Reaches High of 5.8 Percent
Borrowers in the U.S. are defaulting on subprime auto loans at a higher rate than during the financial crisis in 2008. Data...
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3.0KOnDeck 1Q Sees Loan Growth, Better Credit Metrics
OnDeck Capital first quarter results, which were reported Tuesday (May 8), showed better credit metrics and headline numbers that topped the Street...
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2.8K
Some US Loan Standards Ease In Q1, But Not Credit Card Or Auto Loans
Lending standards for business loans eased at U.S. banks in the first quarter of the year, according to a new report from...
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6.7KMapping The Black Box: A Look Inside Machine Learning’s Powers And Quirks
“Machine learning is the answer to the financial inclusion problem.” So said Douglas Merrill, founder of ZestFinance. It’s a bold statement, considering that...
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2.3KOtting Loosens Rules On Short-Term Small-Dollar Loans
Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. banks are able to...
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3.2KTwenty Percent Of Mortgage Loans Top 45 Percent Of Monthly Income
New data shows that rising home prices are translating into mortgage loan debt not seen since the housing crisis. According to The...
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2.1KCorporate America Picks Up Pace On Lending
U.S. banks are seeing a surge in the number of loans being taken out by corporate America, with new data showing the...
