Online lenders are about to face their biggest test and many are trying to balance how they keep up with...
The rallying cry of the online lending industry has been to eliminate high cost credit card debt. And while tens...
TD Bank announced in March that they will be partnering with Avant’s technology platform called Amount to power their new...
The issue of “true lender” has been one that has dogged the marketplace lending industry virtually since its inception. When...
Many of us in this industry will be glad to see the last of 2016. It has been a difficult...
In their weekly industry update PeerIQ covered the most recent securitization deals and the acquisitions by student loan servicers Nelnet and Navient; Avant filed AVNT 2017-B worth $232.648mn, a consumer loan ABS transaction; PeerIQ took a close look at Mosaic whose most recent ABS transaction was heavily oversubscribed, with over $1.7 Bn in orders for a $307.5mn deal. Source.
According to a report by Bloomberg, four bonds comprised of online consumer lending loans have reached or are approaching trigger levels; the four bonds include three securitizations by Avant and one by CircleBack Lending; according to one source, two of Avant's securities breached triggers this month for the first time; the four offerings total over $500 million in size. Source
The new venture called Spring Labs will use blockchain technology in building a network which will allow lenders, banks and data providers to pay each other for access to consumer information; CEO Adam Jiwan gave insight into the problem they are trying to solve stating, “Utility companies or social-media companies or asset managers do not provide data into the existing credit-bureau system. In the existing ecosystem, financial institutions or lenders give up that information to a centralized party — a credit bureau — only for the financial institutions to buy it back in a synthesized form.”; the firm aims to have Avant, the online lender, be its first strategic partner. Source
In an interview on CNBC last week Goldman Sachs CEO Lloyd Blankfein shared some news about their consumer lending platform....
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