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Fintech Startup Pursues Captive Partners for Loan Engine

Fintech startup SuperMoney is scouting captive partners, after launching its auto loan vertical this week with 20 direct lenders and credit unions on the platform, founder Miron Lulic told Auto Finance News. Currently, SuperMoney offers secured, unsecured, refinance, and private-party auto loans, but eventually it could expand to offer a suite of products including leases. […]

SuperMoney’s Direct Auto Aggregator Spotlights Full Cost of Interest Rates

The loan offer engine SuperMoney is launching a direct vehicle finance vertical today with roughly 20 participating auto lenders, the website’s founder Miron Lulic told Auto Finance News. SuperMoney’s platform launched with personal loans in April which could include unsecured auto purchases, but the new vertical allows for secured, unsecured, refinance, and private-party auto loans […]

Lending Club Grows Auto Refinance Gradually

Lending Club continues to grow its newly-launched auto refinance product and is investing $5 to $10 million in its expansion, Chief Financial Officer Tom Casey said during the company’s fourth quarter earnings call yesterday. Although originations and revenue from auto refinance were not specifically broken out in the report, Casey said originations are still “not […]

Lending Club Aims to “Double or Triple” U.S. Auto Refinance Volume, VP Says

Lending Club’s new auto refinance offering, announced last week, has the potential to vastly increase the amount of refinancing the industry sees annually, Todd Denbo, the company’s vice president of consumer lending, told AFN. “We know that every year, roughly, there’s about $40 million of refinance volume,” Denbo said. “We think that by making the […]

Lending Club Debuts Auto Refinance Product

Lending Club will now offer auto loan refinancing, the company announced today. The product will first launch in California, with plans to expand nationally in early 2017, according Lending Club’s press release. This is not the first time the San Francisco-based company has set its sights on auto. Former Chief Executive Renaud Laplanche said in February […]

Marketplace Lenders Face Origination Shakeup After Supreme Court Denial

The consumer lending industry will soon see marketplace lenders change their origination models, in the wake of the the Supreme Court decision to uphold Madden v. Midland Funding LLC, according to Scott Pearson, a partner at Ballard Spahr and leader of the firm’s Marketplace Lending Task Force. The case requires non-bank companies to adhere to state usury laws […]

Oregon Community CU Pushes Mobile Payments

Oregon Community Credit Union (OCCU) is striving to stay relevant to millennial buyers by shifting its focus this year to improving its mobile payment functions, according to Chief Credit Officer Jerry Liudahl. While OCCU already has a mobile app for consumers to make payments and complete an online loan application, the ability to get a loan arranged […]
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