Weekly Online Lending Snapshot – April 20, 2018
Senate voted to roll back the policies issued by the Consumer Financial Protection Bureau aimed at fair auto lending for minorities. New York Attorney General sent letter to 13 Cryptocurrency Exchanges as a fact-finding inquiry into the policies and practices of platforms used by consumers to trade cryptocurrencies. On Sunday, Goldman announced the acquisition of personal finance tracking app Clarity Money. Martin Chavez, Goldman’s CFO, said the bank is “open-minded” when it comes to other, similar acquisitions.
In other news, Blend announced plans to open a marketplace for home finance innovation. The new Blend Marketplace invites companies that service the mortgage industry to sell digital tools–APIs–through its platform. Second Avenue Capital Partners launched a new lending platform specializing in asset-based loans for the broader retail and consumer product industry. Wunder Capital has raised $112 million in primarily debt financing to boost its business. Lendio released their annual list of top 10 states for small business lending with Utah, Washington, and California claiming the top spots. Agency lenders, Freddie Mac and Fannie Mae, are originating more permanent loans than ever on apartment properties. Nearly two-thirds of all loans originated in 2017 were by the agency lenders.
Note that this report is updated as of Thursday’s market close to ensure we can get it to you before the weekend. Please contact us with any feedback or suggestions you may have for future snapshots.