Loans

Selling a Home, Selling Commercial Financing – What’s the Difference?

November 16, 2018
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Realtor Showing New House To Loving Couple

Alternative funding brokers come from all different backgrounds, but for many them, being a broker is not their first job in sales. Some sold equipment, some sold cars and others sold homes. They were realtors. deBanked found two alternative funding brokers with a background in residential real estate and we asked them to compare the […]

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SoFi Has Another Loss in Q3

November 12, 2018
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SoFi sign

According to the WSJ, SoFi experienced a $12 million EBITDA loss in the 3rd quarter. That follows a $150 million loss in Q2. “We optimized for investing over profitability this quarter, and expect this to continue given the opportunity in front of us,” SoFi CEO Anthony Noto wrote in a letter to shareholders obtained by […]

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LendingClub Hits Another Record for Originations

November 7, 2018
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Lending Club CEO Scott Sanborn Presents at Money2020

LendingClub’s Q3 earnings report yesterday revealed a record high in loan originations of $2.9 billion, up 18% compared to originations of $2.4 billion last year at the same time. Consequently, revenues increased, also to a record high of $184.6 million, up 20% year over year. “The strength of our marketplace is enabling us to responsibly grow […]

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SoFi CEO Ponders Opening Physical Locations

November 5, 2018
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loanstorefront

At Money 20/20 a few weeks ago, SoFi CEO Anthony Noto said that eventually the online lender will need to open some physical locations, not unlike ATM machines, for people who get paid in cash. The notion of an online lender opening up physical locations sounds ironic. But it would not be the first time […]

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Elevate Tests ‘Geofencing’ to Lure Customers Away from Competition

November 1, 2018
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geofencing

During a session at Money 20/20 last week, Elevate CEO Ken Rees mentioned a fairly new marketing technique they have been testing called geofencing. According to a story in CIO, a trade publication for Chief Information / Chief Technology Officers, geofencing is “a service [using GPS technology] that triggers an action when a device enters a […]

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Prime and Non-prime Lenders Exchange Notes

October 25, 2018
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KenRees Kimball

Ken Rees, CEO, Elevate At Money 20/20 Ken Rees, CEO of Elevate, a non-prime consumer lender, sat down with David Kimball, CEO of Prosper, a prime consumer lender. As they discussed a number of topics, listeners got insight into how these lenders think, and how they think differently based on the customers they serve. On […]

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Square Expands into Consumer Lending, Keeps Banking Hopes Alive

October 16, 2018
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Outside the Square Headquarters in San Francisco

Square is no stranger to payments and is looking more and more like a bank every day. Square Capital already facilitates loans to small businesses, and now they’re expanding into consumer loans. Meanwhile, it’s been several months since Jack Dorsey’s fintech startup withdrew its application to become an Industrial Loan Company (ILC), but Square’s banking […]

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Digital Mortgage Lender “Better” Goes Where No Fintechs Have Gone

October 8, 2018
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Eric Wilson

Eric Wilson, co-founder, Better Mortgage One product noticeably absent from fintechs expanding into lending or banking is mortgage loans, but now a fintech startup is looking to disrupt the $13 trillion mortgage industry. Eric Wilson is co-founder and head of operations at Better Mortgage, a New York-based digital mortgage lender. Wilson explained to deBanked: “Our […]

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PeerIQ Report Shows Mixed Signs for Non-Bank Lending

June 7, 2018
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PeerIQ Lendit

PeerIQ released its 2Q2018 Lending Earnings Insight Report today, presenting forward-looking insights into the FinTech & non-bank space.    The report said that CEOs and CFOs see tax reform as increasing consumers’ disposable income. However, “an increasing supply for credit and demand for credit, as well as re-normalization trends and increased competition are leading to […]

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Lending Disruptor, Rocket Mortgage, Announces First eSports Sponsorship

January 22, 2018
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rocket mortgage and 100 thieves

Rocket Mortgage has thrown its hat into the burgeoning eSports ring, Quicken Loans, its parent company, announced on Friday. The brand has entered into a sponsorship agreement with the 100 Thieves’ League of Legends division. Citing a synergy between the end-to-end online and on-demand mortgage product and the “disruptive” world of eSports gaming, Quicken Loans […]

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