The federal government reportedly has a plan to help borrowers behind on their mortgage payments. The Federal Housing Administration (FHA) is expected to unveil its plan Wednesday (May 31), The Wall Street Journal (WSJ) reported. It would temporarily lower payments for borrowers who are behind,...
Inflation is raging and credit card debt is at record levels. Merchants who want to help convince consumers at the point of sale to commit to the sale can leverage omnichannel financing as part of their strategy. And as Versatile Credit Chief Technology Officer Joe Sharp told PYMNTS, a...
SoFi Technologies’ stock dipped Monday (May 15) after an analyst said its accounting may overstate its capital. Wedbush Managing Director, Equity Research David Chiaverini cut SoFi to underperform and said its accounting practices may come under scrutiny as regulators focus on capital ratios and stress testing after recent...
Citi Retail Services is adding new point-of-sale (POS) lending options to its embedded payment capabilities. The new suite of Citi Pay products can integrate into retailers’ existing payment platforms and provide their customers with revolving lines of credit, installment loans and other payment options, Citi...
Rapid Finance and Mambu have partnered to provide a comprehensive Lending-as-a-Service (LaaS) offering. With Mambu’s loan management system (LMS) integrated into Rapid Finance’s Decisioneer loan origination system (LOS), they now offer lenders a seamless transition from loan origination to servicing, the companies said in a...
Banks expect to continue tightening lending standards across all loan categories through the rest of 2023. That projection comes after a quarter in which banks tightened their standards for loans to both businesses and households, the Federal Reserve reported Monday (May 8) in its “April...
Safaricom and Kenya’s Higher Education Loans Board (HELB) have partnered on a mobile wallet and a mini app. The new HELB Mobile Wallet will allow students to receive the upkeep portion of their student loans directly to their M-PESA account, while the HELB M-PESA Mini...
Credit offers consumers the flexibility to buy cars and houses and access college educations, yet data shows that 31% of U.S. consumers — about 80 million individuals — are on the outside looking in. PYMNTS’ research finds that consumers fall into two categories: the credit...
Businesses are reportedly finding it increasingly difficult to access credit. The trend could lead companies to reduce their investments and slow their growth, Bloomberg reported Friday (April 21). For small businesses, it’s more difficult than it’s been in a decade to borrow. Last month’s turmoil...