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Top related persons:
Sanjay Datta - 1 Datta - 1 Max Levchin - 1 Doug Schulman - 1 OneMain - 1 Finsight - 1 Robert Wildhack - 1 Kroll - 1
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Search resuls for: "Finsight"


2 mentions found


☆ Analysis: Fintech lenders tighten lending standards, bolstering debt financing
  + stars: | 2023-07-19 | by ( Hannah Lang Matt Tracy | Hannah Lang | Matt Tracy | ) www.reuters.com   time to read: +4 min
They are a key source of financing for some fintech lenders, which have fewer funding options than banks. As the end of pandemic stimulus and rising inflation led delinquency rates to normalize, investors shunned the fintech ABS market late last year. Fintechs like Upstart (UPST.O), Affirm (AFRM.O) and OneMain Financial (OMF.N) say they are boosting credit quality, in another example of how lenders have been pulling back amid uncertainty over the economic outlook. Still, analysts say it is a sign the fintech ABS market is recovering. For fintech loans to borrowers with weighted average credit scores between 660 and 710, annualized net losses rose by 1.88% month-over-month to 16.61%.
Persons: Sanjay Datta, Datta, Max Levchin, Doug Schulman, OneMain, Finsight, Robert Wildhack, Kroll, Hannah Lang, Matt Tracy, Josie Kao Organizations: Wall Street, OneMain, AAA, Autonomous Research, Kroll Bond Rating Agency, Thomson Locations: Washington
☆ Tough road ahead for U.S. fintech lenders as default risk rises
  + stars: | 2023-01-13 | by ( Matt Tracy | ) www.reuters.com   time to read: +2 min
During the pandemic, many fintech startups emerged as lenders to borrowers with imperfect credit. Using artificial intelligence, their screening tools were more likely to recommend these loan requests than traditional lenders'. The lenders' ABS were among bonds that raised $36 billion in 2021 and 2022 by pooling consumer and marketplace loans, according to FinSight data. The losses on subprime loans that are assumed to be uncollectible debt or charge-offs rose on average by some 20% by the third quarter of 2022 from 2019 levels, said Moody's. But the lenders' securities have not lost investor appeal as yet, said Theresa O’Neill, ABS strategist at BofA Securities.
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