Personal Loan News

03
Dec
Goldman Sachs’ Marcus Personal Loan Hits the Mark as Other Lenders Struggle

When Goldman Sachs launched Marcus, a personal loans product, a little over a year ago, it set an aggressive goal: lend $2 billion by the end of 2017. And while competing online lenders have reported a series of losses since then, Goldman announced this month that Marcus has hit that milestone. Marcus is billed as a […]

Posted in: Personal Loan News,
30
Nov
Q&A: Marlette Funding President Offers Insight on Personal Loan Market

This November, I had the opportunity to speak in a Q&A over the phone with the President at Marlette Funding, Josh Tonderys. During the interview, I had the chance to learn quite a bit about the personal lending market from an experienced industry leader. Let’s see what he had to say about the personal loan […]

Posted in: Personal Loan News,
20
Nov
Personal Loans in Politics: Making Things Even Swampier

“Draining the swamp” can be interpreted in a number of ways, but in Washington D.C., it’s taken to mean limiting the influence of money on politicians, a crusade many feel is either doomed from the start or just merely a talking point. At any rate, the swamp seems to be thriving: tax cuts for the […]

Posted in: Personal Loan News,
15
Nov
Prosper Marketplace Reports Lucrative Q3 in Personal Loans Amid Overall Market Growth

In recent years, the personal loan market has been showing immense growth as more consumers are starting to see the value in taking out personal loans for various reasons. In line with this overall trend, San Francisco-based Prosper has been one of the leaders in the personal loan market; in fact, the lender recently showcased […]

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15
Nov
Marlette Funding Closes Fourth Personal Loan Securitization Within Past Year

Last week, marketplace lender Marlette Funding announced the closing of its fourth proprietary securitization. The transaction was worth an estimated $312 million, and it is the fourth securitization announcement since August of 2016 from Marlette Funding. Marlette’s Best Egg personal loan products were backed across four classes of notes and one class of certi

Posted in: Personal Loan News,
10
Nov
Household Expenses Becoming Predominant Reasons for Personal Loans

As consumer debt continues to climb, it is not surprising that the latest data shows that personal loans are becoming more and more commonplace overall, accounting for a larger portion of consumer debt. As of June 30, of this year, total household debt in the United States reached $12.84 trillion according to the Federal Reserve of New York. […]

Posted in: Personal Loan News,
04
Nov
Fintech Lenders Are Holding Larger Portion of the Personal Loan Market

During the Digital Lending + Investment Conference in New York, the consumer credit reporting agency Transunion released the results of a studycalled ”Fact versus Fiction: FinTech Lenders.” In a nutshell, the study concluded that fintech lenders were not riskier than other lenders, and they are starting to represent a more significant part of the loan i

Posted in: Personal Loan News,
01
Nov
CFPB Paves Ways for New Lending Regulations, Impacting Payday Lenders

Earlier in October, the Consumer Financial Protection Bureau (CFPB) set its sights on payday lenders with a new ruling for the short-term loan industry. Firms offering “payday loans” will now need to qualify their applicants in a similar way as traditional bank loans. Lenders must administer a full-payment test. This requires them to verify whether […]

Posted in: Personal Loan News,
24
Oct
Goldman Sachs CEO Makes Customer Calls, Personal Loan Business Booming

With a new online personal loan program called “Marcus” and plans to earn a billion or so in new revenue as a consumer lender, Goldman Sachs is chasing traditional banking business by offering individual personal loans to retail customers. Who is the voice of “Marcus” on the line to promote the revamped personal lending products? It’s none oth

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19
Oct
New Study Shows Consumers Prioritize Personal Loan Debt First

According to the TransUnion Payment Hierarchy Study, the average consumer tends to prioritize unsecured personal loan debt ahead of mortgages, credit cards, and auto loans when faced with financial distress. The results suggest that fiscally constrained borrowers will move towards paying their personal loans first, their auto loans second, their mortgages third, and f

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