For all the trouble balloon payments caused in the housing crash of 2008, used properly, such loan terms can be a viable option for lowering monthly payments, especially on costly cars. An example of the resurgence of balloon payments in the auto sector comes from...
Whatever your plans for a loan, you want to make sure the lender is one that’s right for you and their app is one that can get the job done. The PYMNTS Provider Rankings of Personal Loan Apps is here to help. In this monthly ranking, the apps...
Lending, it’s been said, is as much art as science – and even in the 21st century, it is filled with friction. But with advanced technologies in the mix, and with the cooperation between lenders and borrowers enriched by data, the process becomes far more...
Banking profits dropped during the third quarter of 2021 due to a slower reduction in loan loss provisions, the Federal Deposit Insurance Corporation (FDIC) reported on Tuesday (Nov. 30). According to Reuters, profits dropped 1.2% to $69.5 billion, but were still up almost 36% compared...
Digital marketplace bank LendingClub now offers automobile refinance loans in 40 states, reaching 94% of the population nationwide and saving the average borrower about $4,000 over the course of the debt, the company announced on Tuesday (Nov. 30). First introduced in California in 2016, LendingClub’s...
In lending, many basic protections that apply to consumers, such as disclosure of the annual percentage rate, aren’t required when lending to small businesses. And given that they’re in an underserved credit market, many end up paying much higher rates, often unwittingly. During the pandemic,...
Maybe you’d like to consolidate some debt. That roof isn’t going to earn its own money and fix itself — and come to think of it, neither is your car. For these and other reasons too numerous to mention, yet utterly familiar to us all,...
RecargaPay, a mobile payments and wallet for Brazil, has received authorization from the central bank to provide loans, according to a Wednesday (Nov. 17) report from The Paypers. In a move to bolster its loan operation, the Brazilian-based company launched in the debt market in...
The Consumer Financial Protection Bureau (CFPB) is looking for input on implementing the Home Mortgage Disclosure Act (HMDA), which requires lenders to report information about home loans they receive applications for, originate or buy, according to a press release. The CFPB wants comments from the...