Marketplace loan ABS gets newcomer with Earnest offering
California-based online consumer lending platform Earnest is marketing EARN 2016-A, a debut rated transaction backed by student loans.
The $112m deal is backed by refinancings of existing student loan debt, while the borrower pool features a weighted average credit score of 775, higher than offerings marketed by CommonBond, SoFi and Darien Rowayton Bank in 2015. A spokesperson for Earnest confirmed that the offering is the first ever ...
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