Online consumer lender to make first run at ABS market

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By Jennifer Kang
08 Aug 2019

Online consumer lender LendingPoint is gearing up to issue its first ever rated ABS, according to documents filed with US Securities and Exchange Commission this month.

While LendingPoint originates loans to prime borrowers, the lender focuses mainly on the subprime borrower segment. The company makes use of alternative data points beyond personal credit scores, looking at things like job history and debt-to-income ratios. Its near prime borrowers have a score of 700 or below ...

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