Last week the New York Federal Reserve President, William Dudley, gave a briefing on household debt with a particular focus...
The platform announced their latest securitization which is a $233.75 million deal; provisional ratings of AAA were given by both Moody’s and DBRS; this is CommonBond’s sixth transaction and they have now securitized a total of $1.22 billion in loans. Source
CommonBond has created a March Debtness bracket to look at the payoff rates of this year's March Madness basketball teams; the bracket identifies the time it takes for students to pay off their student loans; UCLA is CommonBond's current March Madness winner with the fastest payoff rate at 4.42 years. Source
Student lender CommonBond (profiled here last year) has created a first in the p2p lending industry: an adjustable rate loan. Adapting...
CommondBond has expanded its loan offerings to include undergraduates; its products now include loans for undergraduate and graduate students, refinancing options for graduates and employer student loan benefits; its newly launched in-school loans have variable APRs starting at 2.87% and fixed APRs starting at 5.50%; they will also include a range of repayment options; in combination with the new loan offerings CommonBond will also partner with Pencils of Promise to support the educational funding of a child in need for every new loan funded on the platform; additionally, CommonBond has announced new online tools for comparing loans; the firm is also building out its employer student loan benefits product which involves integration with Gradible, which it acquired last year. Source
CommonBond is receiving $750 million in lending capacity from Barclays, BMO, Citibank, Goldman Sachs and ING; CEO David Klein commented...
CommonBond, best known as a leading provider of online student loans, has made its second acquisition, NextGenVest, an artificial intelligence...
CommonBond closed their fifth and largest securitization which contained $248 million of refinanced student loans; the senior tranches were rated by Moody’s, S&P and DBRS and received ratings of Aa2, AA and AA (high) respectively; the deal was four times oversubscribed; according to David Klein, CommonBond CEO and co-founder, “Investor demand for CommonBond paper has never been greater. The strong market reception is a reflection of our pristine credit quality, continued ratings progression, and track record of consistent results. As a programmatic issuer, we look forward to continuing to bring consistently high performing bonds to the market, providing investors with world-class capital deployment options.” Source
This morning, CommonBond announced its first securitization totaling $100M. The securitization comes with an expected investment-grade rating from Moody’s of...
CommonBond has laid off about 18 percent of their workforce as they restructure internally to prepare for what they believe...