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.