Zillow is focusing more on the mortgage market, making loans to buyers who use the company’s app. According to a report in GeekWire citing an interview with Zillow co-founder and chief executive Rich Barton, Zillow plans to create an Amazon-like experience for mortgages; mortgage origination will...
Online lender Social Finance (SoFi) is launching two free exchange-traded funds (ETFs). Citing regulatory filings, Bloomberg reported that the funds — set to waive management charges for at least the first year — will focus on U.S. stocks. The funds are free until at least...
FinTechs, not traditional banks, appear to be preferred method of taking out unsecured personal loans in the U.S., with the market hitting an all-time high last year. That’s according to TransUnion, which – as CNBC reported – released data on Thursday (Feb. 21) about the...
A global shipping company is reeling after Amazon apparently pulled business to focus on its own logistics, according to a report from Bloomberg. XPO Logistics, one of the world’s largest transportation and warehouse operation companies, is looking for a buyer for $1 billion worth of...
Student debt in arrears has hit record highs as measured by data gleaned from the Federal Reserve Bank of New York, Bloomberg reports. The newswire said on Monday (Feb. 18) that per the Fed’s quarterly household debt report, the third and fourth quarters of last...
You know the story. Critics say that short-term, small-dollar loans push consumers into the hamster wheel of a never-ending debt cycle – one that turns a two-day bridge to cover a shortfall into a six-month mosh pit of fees that can become hard to dig out from...
The Federal Reserve revealed Monday (February 5) that an increasing number of banks have gotten stricter with the underwriting of some loans during the last quarter of 2018 and that they are bracing for loan demand and performance to decline. According to a report in The...
Student debt in America has grown to staggering proportions. By the end of 2018, 44 million Americans collectively held $1.5 trillion in debt related to the pursuit of education. Today around 70 percent of students graduate from college with some kind of student loan debt,...
For big bank loans taken out before April of 2018, prospects of repayment are good, federal banking regulators said on Friday (Jan. 25). However, the portion of loans owed by strongly leveraged borrowers is still high. Reuters reported that the U.S. Federal Reserve, Federal Deposit...
