lending business
Fellow Finance to close its P2P lending business to become a bank
Finland’s Fellow Finance is following in Zopa’s footsteps, shutting down its P2P lending business to focus exclusively on a new banking operation. The loan-based peer-to-peer crowdfunding and lending platform is merging with Evli Bank to create Fellow Bank. Set to open as a new digitally-enabled lender in April, Fellow Finance will offer customers the option …
First Quarter 2022 Update on Embedded Lending Business and Investment Opportunities in Europe: Embedded Lending Revenue in Europe Expected to Reach $28,409 Million by 2029
DUBLIN, February 24, 2022–(BUSINESS WIRE)–The “Europe Embedded Lending Business and Investment Opportunities – Q1 2022 Update” report has been added to from ResearchAndMarkets.com offer. The European embedded lending industry is expected to grow by 38.9% on a yearly basis to reach US$8,104.5 million in 2022. The embedded lending industry is expected to grow steadily over …
Q1 2022 Update on Embedded Lending Business and Investment Opportunities in Europe: Embedded Lending Revenue in Europe Expected to Reach $28,409 Million by 2029 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The report “Europe Embedded Lending Business and Investment Opportunities – Q1 2022 Update” has been added to from ResearchAndMarkets.com offer. The European embedded lending industry is expected to grow by 38.9% on a yearly basis to reach US$8,104.5 million in 2022. The embedded lending industry is expected to grow steadily over the forecast period, …
SEC Settles With Crypto Lending Platform BlockFi
The SEC has announced a settlement of charges against BlockFi Lending LLC (BlockFi) regarding its BlockFi Interest Account (BIA) product. According to the SEC: investors lent crypto assets to BlockFi via BIAs BlockFi used investors’ crypto assets to make investments, including lending to institutional investors and investors received interest paid monthly on crypto assets. The …
Paytm Sets New Lending Record and Builds Payments Leadership
Lending activity reaches 1.9 million loan disbursements in the month, a year-on-year growth of 331%; aggregating to a total value of INR 921 Cr (334% YoY growth) The leadership of offline payments is further strengthened; the number of devices deployed stands at 2.3 million Highest-ever growth in average monthly transactional users (MTU) to 68.9 million, …
Principal® expands direct lending business in 2021 with an eightfold increase in committed capital
DES MOINES, Iowa–(BUSINESS WIRE)–Major global investors®, through its direct lending business, Principal Alternative Credit, closed 2021 with a more than eight-fold increase in committed capital, advancing its plans to expand its private debt capabilities. Marking the completion of its first full year in the direct lending market, Principal Alternative Credit closed nearly 40 deals, including …
401% increase in Paytm lending activities, GMV recorded at 37% for the third quarter of fiscal 22
Paytm saw a 401% peak in its lending business and 37% year-over-year growth in its gross value of merchandise (GMV) in the third quarter of fiscal 2022, reported One97 Communications, the parent organization of Paytm in a regulatory filing Monday. The gross value of merchandise, which is the value of the total payments made by …
Ledn Lending Platform Launches Bitcoin-Backed Mortgage Product, Raises $ 70 Million
Global digital asset savings and lending platform Ledn has announced the upcoming launch of a bitcoin-backed mortgage product, calling it “the first of its kind to hit the market.” The company also raised $ 70 million, bringing its valuation to $ 540 million. Bitcoin-backed mortgage – “The first product of its kind to hit the …
BankProv Partners With CrossTower To Offer Crypto Lending Platform | State
AMESBURY, Mass., December 16, 2021 / PRNewswire / – BankProv, a future-ready commercial bank delivering adaptive and technological banking solutions to emerging markets, announced its partnership with CrossTower, one of the leading digital asset trading platforms and investment firms fastest and largest in the world, to provide equipment financing for Bitcoin miners. “CrossTower is very …
BankProv Partners With CrossTower To Offer Crypto Lending Platform | News
AMESBURY, Mass., December 16, 2021 / PRNewswire / – BankProv, a future-ready commercial bank delivering adaptive and technological banking solutions to emerging markets, announced its partnership with CrossTower, one of the leading digital asset trading platforms and investment firms fastest and largest in the world, to provide equipment financing for Bitcoin miners. “CrossTower is very …
Swedish loan platform Näktergal prepares € 1million, plans further expansion across Europe – Tech.eu
Supporting financial institutions’ transition from traditional to digital lending solutions, Stockholm-based Näktergal raised € 1 million. Already seeing success in Sweden and Finland, the company aims to use part of the investment to enter the German market in the coming months. Since its launch in 2015, the startup has raised a total of 2 million …
Walker & Dunlop Launches New Lending Platform
BETHESDA, MD., November 16, 2021 / PRNewswire / – Walker & Dunlop, Inc. today announced the launch of a new digital lending platform powered by machine learning to significantly grow its low balance multi-family lending business. “Multi-family investors want a faster, more seamless borrowing experience,” Walker & commented. Dunlop Senior Vice President and Head of …
Man convicted of illegal loan of money, son of rape in Jabalpur
Jabalpur (Madhya Pradesh): A 20-year-old boy has been arrested for allegedly raping a woman by threatening her in Jabalpur, police said on Monday. Police also arrested her father for allegedly running an illegal money-lending business and seized a rifle, firearm, revolver, 46 live cartridges and four knives. Besides Rs 9.90 lakh, 3.340 kg of money, …
Infibeam Avenues expects lending activities to fuel future growth
Digital payment solutions player Infibeam Avenues Limited (IAL) expects the next big growth spurt to come from its lending business. The company’s express settlement activity – short-term working capital funding – is expected to exceed $ 1 billion by year-end, far more than previous forecast of $ 200 million, it said. a senior official. The …
Trez Capital expands bridge loan business with UBS Hire – Commercial Observer
After a race of more than seven years at UBS, Justin driscoll was called upon to take up a new challenge within the framework of Trez Capital’s initiative to strengthen its bridge loan platform from coast to coast. Driscoll recently began his new role as Managing Director of Trez’s real estate bridge financing program and …
mcapital: Mswipe’s lending activity appoints Tanya Chadha COO
Mcapital, Mswipe’s lending business, has announced the appointment of Tanya Chadha as Chief Operating Officer (COO), according to a statement released today. With over 16 years of financial services and credit experience, she will oversee building a loan portfolio of Rs. 100 crore by March 2022. Her appointment comes as Mswipe prepares for a license …
Mswipe Lending Business Appoints Tanya Chadha as COO
Tanya Chadha, Director of Operations, Mcapital. Mcapital to meet the credit needs of MSMEs; aims to build an INR 100 Crore loan portfolio by March 2022 Mumbai, September 21, 2021: Mcapital, Mswipe’s lending business, today announced the appointment of Tanya Chadha as Chief Operating Officer (COO). With over 16 years of financial services and credit …
Coinbase drops 6% as it plans to launch crypto lending business
By Dhirendra Tripathi Investing.com – Coinbase (NASDAQ: COIN) shares recovered some losses but traded down 6% on Monday after the platform succumbed to pressure from regulators and scrapped plans to start a business of crypto lending. The company announced its decision in a blog post on Friday. In a communication to the crypto platform, the …
Coinbase drops 6% as it plans to launch crypto lending business by Investing.com
© Reuters By Dhirendra Tripathi Investing.com – Coinbase (NASDAQ 🙂 stock recouped some losses but traded down 6% on Monday after the platform succumbed to pressure from regulators and scrapped plans to start a lending business of crypto. The company announced its decision in a blog post on Friday. In a communication to the crypto …
Nowofloan transforms lending business with loan approval in 30 minutes
Surat-based digital lending platform Nowofloan.com is revolutionizing the lending industry. The startup has partnered with several banks and non-bank financial corporations (NBFCs) to launch a membership card that can allow members to get digital loan approval in just 30 minutes. Since its launch on July 24, 2019, Nowofloan.com has grown into the most trusted multi-bank …
Nowofloan transforms lending business with loan approval
Surah (Gujarat) [India], September 16 (ANI / PNN): Nowofloan.com, the Surat-based digital lending platform, is revolutionizing the lending industry. The startup has partnered with several banks and non-bank financial corporations (NBFCs) to launch a membership card that can allow members to get digital loan approval in just 30 minutes. Since its launch on July 24, …
Operator Alipay Ant Group to create separate application for lending activities
Ant Group, the world’s largest electronic payments platform, reorganized its business to comply with instructions from the Chinese central bank in April to separate its payment service Alipay from other services offering consumer loans. The Hangzhou-based company, a subsidiary of that newspaper’s owner, Alibaba Group Holding, could create a separate mobile app for the lending …
Indiabulls Housing Finance delivers 500 crore rupees in co-loan
Indiabulls Housing Finance (IBHFL) has booked business worth Rs 500 crore through the co-loan model during the five months of the current fiscal year and plans to increase it to Rs 300 crore in September. At the start of FY 22, the mortgage lender changed the business model to gradually focus on the co-lending space …
Xiaomi India Delays Crypto Offers With Launch Of Lending Platform
Despite its diversification into a full spectrum lending platform, Xiaomi India still does not offer cryptocurrencies at this time. The lending business of the Chinese cellphone maker operating in the subcontinent, which started as part of its internet service business, will clearly focus on the payments, lending and insurance verticals. The company is now launching …
Goldman Sachs lending activity to RIA clients to reach $ 10 billion
Goldman Sachs launched GS Select four years ago to reach the wealthiest borrowers. His book doubled in 2020 and is expected to reach $ 10 billion by the end of the year. GS Select’s Whit Magruder told Insider why the rich will continue to take loans they don’t need. Wall Street’s lending business is booming …
Nedbank’s core lending business is leading a recovery
After two trading statements relating to the six months to June 2021, Nedbank has released its full interim results. Net interest income increased by 7% and impairment decreased by 59%, so the net impact on its income from credit activities is obviously very positive. The bank’s core lending business increased revenue (net of write-downs) by …
Paytm’s lending activity disbursed 1.4 million loans in the last 3 months of fiscal 21
Paytm’s lending business (merchant loans) as well as Paytm Postpaid, the company’s buy-it-now and pay-out product, has got off to a good start. The company’s DRHP reveals that it disbursed 1.4 million loans to T4FY21, nearly 100 times the number of loans (13,000) disbursed to T3FY21. In T3FY20, the company disbursed 13,000 loans, T4FY20 granted …
CFBank withdraws from direct-to-consumer mortgage lending business
Timothy T. O’Dell CFBank, the wholly owned banking subsidiary of CF Bankshares Inc., ceases its direct-to-consumer mortgage (DTC) business and instead focuses on retail loan origination. The company said it has suspended issuance of new rate freeze commitments through its DTC mortgage business from June 30 and will work to close its loan portfolio and …
Natwest sells Irish commercial lending business to AIB
LONDON (Reuters) – The Natwest Group announced on Monday that it had agreed to sell most of its Irish commercial lending business to its regional counterpart Allied Irish Banks, as part of the planned exit of the UK lender from Ireland. The deal will see AIB repossess approximately € 4.2 billion ($ 5.01 billion) in …
Volkswagen Finance Withdraws From Lending Activity In India; In preliminary talks with the bankers
As the Indian branch of Volkswagen Financial Services seeks to end its lending business in the country, it is in talks with leading banks to transfer its existing dealer and vehicle finance business. Volkswagen Finance Private Limited (VFPL) is at an advanced stage of talks with banks including Axis Bank, Kotak Mahindra Prime and ICICI …
Provident Financial “to close its home loan business”
YORKSHIRE-based Provident Financial is on the verge of shutting down its home loan business after more than 140 years, it has been learned. The Bradford-based institution has more than 380,000 clients and is Britain’s largest subprime lender. However, it has been in deficit since an attempt at modernization went wrong four years ago, leading to …
Provident to close UK’s oldest home loan business
Provident Financial Group PLC Updates Sign up for myFT Daily Digest to be the first to know about Provident Financial Group PLC news. Provident Financial will be shutting down its home loan business, highlighting the pressures facing the subprime credit market, in particular the high levels of complaints from professional claim companies. Provident, Britain’s largest …
Lufax results show she emerged from peer-to-peer lending unscathed
Lufax Holding Ltd. appears to have come out unscathed from its decision to exit the scandal-prone and heavy-regulatory peer lending business as it posted healthy fourth quarter earnings growth. The fintech player, backed by financial conglomerate Ping An Insurance (Group) Co. of China Ltd., focused on wealth management after choosing to leave the peer-to-peer lending …
Bank of Baroda Launches Digital Lending Platform Aiming At Paperless Process For Retail Customers-ANI
Bombay (Maharashtra) [India] December 30 (ANI / BusinessWire India): Bank of Baroda, the country’s third largest public sector bank, launched the digital lending platform, which enables potential retail loan seekers to obtain loans digitally through a process paperless at the convenience of their place and time of choice.Pre-approved personal micro-loan is offered to existing selected …
Bank of Baroda launches digital lending platform
Bank of Baroda (BoB) has launched its Digital Lending Platform (DLP), which will allow potential personal loan applicants to obtain loans digitally through a paperless process The platform provides “in-principle approval” for home, auto and personal loans within 30 minutes without human intervention, the public sector bank said in a statement. The bank will also …
AirAsia expects to get final approval for BigPay lending business by January
KUALA LUMPUR (December 8): AirAsia Group Bhd is seeking final approval for its BigPay lending business by the first quarter of next year (1Q21). The group said it had already received interim approval from the Department of Housing and Local Government (KPKT) in mid-November to provide loans online under a community credit license. “We hope …
Northern Arc Prepares to Strengthen Direct Lending Business
Northern Arc Capital, a non-bank finance company (NBFC) that provides access to debt to underbanked individuals and businesses in India, plans to step up its direct lending business to focus on small business lending (SBL) , consumer loans, microfinance and middle market loans to emerging companies. “In the last six months, we’ve had a large …
Chola launches co-lending business – The Financial Express
Nucleus Software’s advanced co-loan solution will help Chola process co-loan applications much faster, assess credit risk with a robust framework, and ensure compliance with regulatory requirements. Cholamandalam Investment and Finance Company (Chola), the financial services arm of the Rs 38,000 crore Murugappa Group, has launched its new co-lending business. The company is in the process …
Chola finance unveils its co-lending activity
Cholamandalam Investment and Finance Company, the finance arm of Murugappa Group, has launched a co-lending business with technology from Nucleus Software, a lending and transaction banking solutions provider. “Co-lending is a new direction for Chola. This will soon evolve into a very successful partnership model for banks and NBFCs,” said Ravindra Kundu, ED, Chola. Chola, …
Chola Investment and Finance Launches Co-Lending Business with Nucleus Software Technology
Nucleus Software, the leading provider of lending and transaction banking solutions, has announced that Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of Murugappa Group, has successfully implemented the advanced co-lending solution from Nucleus Software. The co-lending model is a great opportunity for banks and NBFCs to leverage each other’s strengths. The …
Chola launches co-loan business with technology from Nucleus Software
Nucleus Software, the leading provider of lending and transaction banking solutions, announced that Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of the Murugappa Group, has successfully launched Nucleus’ advanced co-lending solution Software. The co-lending model is a great opportunity for banks and NBFCs to build on each other’s strengths. The co-loan …
IndoStar Capital to exit corporate lending business and expects retail lending to resume in 6 months
The decision to end the corporate lending and structured finance business it started with comes in the wake of the IL&FS crisis that hit the industry in 2018. By Malini Bhupta IndoStar Capital Finance, a non-bank finance company, is exiting the business lending business after encountering difficulties in raising funds. Currently, the financier has a …
Paytm appoints Bhavesh Gupta as CEO of its lending business
Bhavesh Gupta Financial services platform Paytm has announced the appointment of Bhavesh Gupta as managing director of the company’s lending activities. Open call for applications for the BuzzInContent Awards 2020 ENTER NOW Gupta will develop and expand Paytm’s lending services to strengthen the company’s vision for financial inclusion for 500 million Indians. Under his leadership, …
Paytm partners with Bhavesh Gupta as CEO to lead its lending business
Paytm has appointed Bhavesh Gupta as Managing Director and Senior Vice President to lead the company’s lending business. Gupta would be responsible for developing and expanding the Noida-based company’s lending services as well as new innovative credit products in partnership with other banks and NBFC. Prior to joining Paytm, Gupta was a founding member and …
Paytm appoints Bhavesh Gupta as CEO of lending business
One97 Communications Ltd, which operates Paytm, has appointed Bhavesh Gupta as Managing Director (CEO) of its lending business. In his new role, Bhavesh will develop and expand Paytm’s lending services and help the company create new credit products for customers and SMEs in partnership with other banks and NBFC. Gupta will report to Amit Nayyar, …
How to start an online loan business
Running an online loan business is one of the most lucrative businesses these days. Everyone faces a financial emergency at some point in their life. Is there a better way to get financial aid than lend on the internet? There are a few basics that you should understand before investing in the online lending space. …
Jonathan Rose embarks on bridging credit
Developer Jonathan Rose is entering the bridging loan business. The company’s financial arm, Rose Community Capital (RCC), launched its new Impact Bridge loan program with a $ 15 million deal in La Puente, California. The short-term interim financing will fund the acquisition of Sunny Garden Apartments, an affordable senior 96-unit multi-family property (top photo), on …
The mortgage company will play the supporting role: Tic: Toc
FinTech shed light on its long-term strategy in the mortgage market following the launch of its new business activity. Last week, fintech lender Tic: Toc Home Loans announced the launch of its first ‘software as a service’ (SaaS) product, XAI Validate, which was reportedly designed to simplify the home loan application process for lenders and …
Top 10 signs that lending activity is booming in the cryptocurrency world
Silvergate Capital gained nearly 50 new digital currency customers in the fourth quarter of 2019, when its traditional banking services were generally flat. While traditional lending struggles with slow growth due to maturity as well as low interest rates, niche lending activity is seeing tremendous momentum, albeit on a much lower overall volume. Here are …
Paytm is betting big on its online lending business and looking to turn it into a major revenue stream
Since a payment bank is not authorized to lend, the company is considering the possibility of obtaining an NBFC license. Fintech startups getting into lending have become the norm rather than the exception. One of the oldest players in this sector, Paytm, now wants to develop its lending business and would like to obtain an …
paytm: Paytm plans to expand its online lending business
KOLKATA: Digital payments player Paytm plans to expand its online lending business across the country later this year as it seeks to make it a major source of income. Last year in July, Paytm partnered with Clix Capital to offer loans as a deferred payment option to consumers and merchants in the form of lines …
Marianne Lake, CFO of JPMorgan Chase, will lead the bank’s consumer lending activities
JPMorgan Chase is making some changes to its senior management. The mega-bank announced on Wednesday that its current CFO, Marianne Lake, will become the CEO of its consumer lending business, which includes mortgages, card services and auto finance. Lake, which is took into consideration being one of the potential replacements for CEO Jamie Dimon when …
Oak Street is ending its independent lending business
RIA financier Oak Street Funding has ended its practice of lending money to independent advisers, a source familiar with the matter said. Citywire. Based in Indianapolis, Indiana, Oak Street Funding offers RIA loans to fund mergers and acquisitions, buy back stock to fund succession planning, or serve as general working capital. The company competes with …
Apollo and Athene Acquire Aviation Lending Business from GE Capital | New
Apollo Global Management and Athene Holding acquired an aircraft lending business from GE Capital. In a joint statement, the companies said that Apollo will buy the aircraft lending platform from PK AirFinance and that Athene will acquire the existing loan portfolio of PK AirFinance from the Aviation Services (GECAS) unit of GE Capital for an …
Xiaomi Set To Enter India’s Consumer Loan Industry With Mi Credit
The stakes are high for the world’s fourth largest mobile phone provider, whose business model is based on low-margin hardware sales with services as a key long-term profit center. The company reported disappointing second quarter results on Tuesday, and its shares are trading at just over half of their 2018 IPO price. Xiaomi is betting …
Lufax is said to be exiting P2P lending activity
This is an excerpt from a story delivered exclusively to Business Insider Intelligence Fintech Briefing subscribers. To receive the full story and other information each morning, click here. Lufax, one of the largest Chinese fintechs, is considering exiting the peer-to-peer (P2P) lending business, through Reuters citing sources with direct knowledge of the matter. Business Insider …
SecurCapital acquires the lending activity of Breakout Capital Finance
Steve russell, CEO of SecurCapital commented: “We are delighted to have found a highly respected team and an innovative business model in the area of finance for small businesses. I share the vision of the founder of the enormous potential of FactorAdvantage. loan solution and I think we now have the platform and the capital …
How banks can be a game-changer for the SME lending industry
Micro, small and medium-sized enterprises account for more than 80 percent of total industrial enterprises, employ around 117 million people and contribute more than 40 percent to manufacturing output and exports, according to a report by world Bank. Statistics highlight the importance of ensuring inclusive economic growth for MSMEs. The report states that one million …
Wilmslow’s husband and wife sentenced after running illegal money-lending business
A Cheshire husband and wife have been convicted of illegal money lending and money laundering offenses. Craig Lapenna, 57, and Samantha Lapenna, 45, both of whom reside in Wilmslow, were sentenced at Manchester Minshull Street Crown Court. The former Lapenna was sentenced to 16 months in prison, suspended for two years, after admitting 19 counts …
KeyBank to Acquire Laurel Road Online Lending Business
CLEVELAND, January 16, 2019 / PRNewswire / – KeyBank National Association today announced that KeyBank and Laurel Road Bank have entered into a definitive agreement to acquire Key’s digital lending business from Laurel Road; The three Laurel Road bank branches located in the south-east Connecticut are not part of this transaction. With this acquisition, Key …
Metrobank’s lending activity is “tied” to economic growth
Metropolitan Bank & Trust Co. (Metrobank) said on Thursday its lending business is tied to the economy and expects to maintain the same level of growth last year compared to its core lending business in 2019. Banking on the country’s economic performance, Metrobank chairman Fabian Dee said loan growth from the Ty-led lender was “tied …
Microfinance company Satin to sell its lending activity to MSMEs
Microfinance firm Satin Creditcare Network Limited has decided to divest its micro, small and medium-sized enterprise (MSME) lending business to a separate non-bank finance company. Satin CMD HP Singh said, “We are in the process of seeking approval from RBI for NBFC. Until then, we continue to provide these loans under Satin Creditcare. ” The …
Asher Edelman’s art lending company Artemus sues Paul Kasmin gallery for “false invoices” in the sale of a Frank Stella painting
Asher Edelman, co-founder of Artemus © Patrick McMullan Artemus, the art rental company co-founded by Asher Edelman, is suing the Paul Kasmin gallery in the New York Supreme Court, claiming that the company “created and backdated false invoices” on which Artemus went. supported for the purchase of a Frank Stella painting in 2016. In her …
Impresa Financial intends to acquire an independent loan company
Impresa Financial seeks to invest in a direct lending business and devote all of its efforts to the long-term success of the combined entity. Impresa is a vertical brokerage firm that funds automated technology solutions. Impresa is particularly interested in US-based companies that have full or partial direct lending capabilities and a proven track record …
Mortgage Coach Platform integrates with Tavant’s AI-powered digital lending platform for a seamless end-to-end experience
IRVINE, Calif., October 25, 2017 (SEND2PRESS NEWSWIRE) – Mortgage Coach, a software-as-a-service technology provider to the leader in total cost analysis, today announced an integration between the Mortgage Coach platform and the platform Tavant FinXperience – Retail. This integration creates a seamless connection between the two technologies, enabling the direct and automatic transfer of data …
Lima One Capital acquires the residential investor lending business of RealtyShares
Few months ago, RealtyShares, which bills itself as the “first online marketplace for real estate investment”, has bought its biggest rival, Acquire real estate. Both companies offer crowdfunding investments in commercial and multi-family real estate, but RealtyShares’s business is different as it also offers investments in single-family residential housing for fix and flip loans and …
Blankfein talks about Goldman Sachs’ consumer credit business
A broken boiler; a broken wing; one episode of root canal surgery. Whenever life treats you badly, Goldman Sachs will be there. Lloyd Blankfein, chief executive officer of the Bank of Wall Street, took to CNBC on Monday night to talk about Marcus, the consumer lending business the bank launched with fanfare last October. Asked …
Stearns Lending sells its delegated correspondent lending business to Flagstar
Flagstar Bancorp is set to expand its correspondent lending business as the bank announced on Monday its intention to acquire Stearns Loanthe delegated correspondent lending activity of . According to details provided by Flagstar, Stearns’ correspondent business includes approximately 250 correspondent relationships, which generate more than $7 billion in agency and government residential mortgage production …
Stearns Lending exits delegated correspondent lending business
SANTA ANA, Calif.–(BUSINESS WIRE)–Stearns Lending, LLCone of the leading providers of mortgage services in the wholesale, retail, strategic alliance and consumer direct industries, today announced the sale of its delegated correspondent lending business to Flagstar Bancorp, Inc. The company remains fully committed to its production in all other channels, including its Non-Delegated Correspondent product offerings. …
Freedom Mortgage acquires the mortgage business of Sterling National Bank
Liberty Mortgage Corporation strengthens its presence in New York State by acquiring the residential mortgage business of Sterling national bank, the main subsidiary of Sterling Bancorp. The deal represents Freedom Mortgage’s second acquisition in just over a month, as in early July, Freedom officially acquired the origination assets of JPMorgan Chase‘s rural housing business. Today, …
Commerzbank offers peer-to-peer lending platform for small businesses
FRANKFURT, June 21 (Reuters) – Germany’s Commerzbank has launched a peer-to-peer lending platform to match small businesses seeking finance with institutional clients seeking better returns on their investment. The service will allow small businesses to borrow up to 10 million euros ($ 11.3 million) with maturities of up to five years, Germany’s second-largest lender said …
Best of both worlds: the composite loan business model
Opinion Alternative loans have become an important part of the financial landscape. The two main lending business models in this industry are market loans and balance sheet loans, which differ mainly in the spread of risk and the amount of return. Composite loans link these models together and bring the benefits of market lending to …
Loan firm Earnest raises $ 275 million as FinTech stays in the spotlight – TechCrunch
With massive equity and debt financing of $ 275 million, the next-gen loan company Serious now has the firepower and strategic partners to become a more complete financial services company. The lending segment of the financial services industry has been one of the areas that has generated the most interest from venture capitalists with mature …
General Electric to sell commercial lending business in Australia
General Electric Co. has agreed to sell its Australian commercial lending business to Sankaty Advisors, the global credit arm of Bain Capital, dismantling another key part of GE Capital in Asia. The operation, which will be financed by Deutsche Bank, is valued at around A $ 1.9 billion ($ 1.34 billion) including debt, according to …