B2B payments startup Razorpay announced the launch of Razorpay Capital, a lending marketplace offering both short-term working capital loans and long-term business loans. Integrated with the company’s existing dashboard, Razorpay Capital also provides quick settlements and collateral-free loans to its customers. “We always thought we...
A new report has revealed that auto sub-prime loans have reached their lowest level in 11 years. According to Experian’s Q3 2018 State of the Automotive Finance Market report, sub-prime and deep sub-prime lending comprised 21.19 percent of the market, down 1.5 percent from a...
The Mortgage Bankers Association revealed that U.S. borrowers filed the most mortgage applications for both new purchases and refinancing in nearly two months. The news comes as 30-year home loan costs fell to their lowest levels since early October. The data shows that consumer requests...
Anthony Noto, CEO of the financial company SoFi, said this week that his company is preparing for a landscape with higher interest rates, and that it favors quality over quantity, according to CNBC. “We have really strong risk controls,” Noto said in an interview with Jim...
Climbing interest rates are taking their toll on the number of consumers in the market for new home mortgages. Mortgage applications for new homes are down 25 percent year over year. They’re also taking their toll on the non-bank mortgage lenders that proliferated in the good...
Student debt in serious delinquency — 90 or more days — rose to 9.1 percent in the third quarter from 8.6 percent in the previous quarter — the biggest jump in seven years. In fact, the total debt held by Americans rose to $13.5 trillion...
The Federal Deposit Insurance Corporation (FDIC) announced that it is has issued a request for public comments related to small-dollar lending by financial institutions. The Request for Information (RFI) aims to gather more information on the consumer demand for small-dollar credit products, as well as...
After a record $56 billion bailout — and interest rates that are now close to 70 percent — loans rates are down in Argentina. According to Bloomberg, President Mauricio Macri’s goal is to pull cash out of circulation, which would curb inflation and boost a...
Wells Fargo said Tuesday (Nov. 6) that an underwriting error internally prompted it to reject home loan modifications, which resulted in the bank foreclosing on more homes than planned. According to a report in Reuters, citing a filing with regulators, Wells Fargo said an expanded...
