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Bryan Sullivan, the CFO at LoanDepot, talks about its growth prospects without fuel from an initial public offering, how getting consumers to opt for home equity lines of credit is tough, and why he considers the nonbank a disruptor.
November 24 -
CommonBond, a marketplace lender specializing in private student loans, announced its first securitization Wednesday.
June 10 -
CircleBack Lending, an online marketplace that offers installment loans to consumers, has completed its first securitization deal, the Boca Raton, Fla., firm said Friday.
June 26
The marketplace lender LoanDepot has securitized $150 million of its unsecured personal loans.
The Foothill Ranch, Calif., company said the securitization was its first such deal, according to a Tuesday news release.
LoanDepot, which offers installment loans of up to $35,000, plans to continue to generate strong growth, despite pulling its initial public offering earlier this month. LoanDepot doubled home loans in the third quarter from a year earlier, to $7.3 billion, according to a regulatory filing.
Securitization has become a more popular financing tool for marketplace lenders as they have evolved from their peer-to-peer roots. CircleBack Lending, CommonBond and Avant have announced their own deals recently.
Jefferies was financial adviser on the securitization.
