Upstart tests buyer appetite with riskier loans, more sub notes
Online lender Upstart is the latest marketplace loan company to broaden the risk profile of its ABS, announcing a deal this week that offers more subordinate bonds and is backed by a higher proportion of longer-term loans.
The California-based lender, founded by ex-Google employees, uses an underwriting model which incorporates data points other than FICO scores, such as schools attended, areas of study, academic performance and work history.Upstart expanded its credit box last April to boost originations, and shifted from originating mostly 36-month loans ...
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