The online lender, which focuses on high-earning millennials, is offering assurances that it will also serve Americans who make less money. But the company has not convinced critics, who say the plans are inadequate.
Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing other similar proposals related to this goal.
Social Finance's online borrowers are defaulting at higher rates than underwriters for one of its bond deals had expected, the latest sign that an industry that hoped to upend banking is now getting tripped up by bad loans.
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.
The rise in home values is good news for homeowners looking to tap the equity in their homes to pay down debt or make big purchases, but some consumer groups fear it could lead to a new wave of loan defaults.
Hong Kong and Singapore have long been economic crossroads. China and India are economies with vast populations. And Shenzhen is bursting with innovative creativity. All of these contribute to the Asian fintech market being far ahead in adoption and ecosystem creation.
The deal marks a milestone in SoFi’s evolution into a private bank for millennials, but it won’t solve the challenges of the alternative lender’s funding model.
