The number of auto loans classified as delinquent rose sharply in the fourth quarter, raising further questions about whether the segment is getting overheated.
Simultaneous spikes in home prices and mortgage rates have put an unusual squeeze on borrowers' purchasing power and require lenders to be proactive about protecting their loan pipelines.
The San Carlos, Calif., firm is following a similar blueprint as other online lenders — launching with a particular loan product, refining its algorithms, and then seeking to expand into other corners of consumer finance.
Banks are seeing mostly positive or neutral trends in loan demand and broader economic indicators in the first six weeks of 2017 and are upbeat about future prospects, according to the Fed's Beige Book.
Prosper Marketplace will receive as much as $5 billion in loan funding under a deal that will provide investors an equity stake in the San Francisco company
