Brief: Marketplace Lender loanDepot Closes $150M Securitization Of Personal Loans

loandepotloanDepot, America’s lender, today announced the closing of a $150 million securitization of its popular unsecured personal loans accessed by consumers. This $150 million securitization was structured and sold by Jefferies, a global investment banking firm.

In the first six months since launching its first nonmortgage product, more than $250 million in loanDepot personal loans were funded to nearly 17,000 borrowers nationwide. The company’s personal loan applications have increased by nearly 25 percent each month since July on average.

Anthony Hsieh, chairman and CEO at loanDepot, stated:

Anthony Hsieh“Demand from our customers requesting a personal loan is very strong and growing. Completing this first securitization with Jefferies of our personal loans so soon after launch is a key milestone that enables us to accelerate expansion of the product while meeting growing demand. As a product innovator and technology leader in marketplace lending, we’re committed to expanding the loanDepot platform to help even more borrowers fuel their lives and pursue their dreams.”

Michael Wade, managing director at Jefferies, added:

“We look forward to continuing to work with our client, loanDepot, and its lending platform to structure and deliver innovative investment opportunities to our capital markets investor clients.”

The first securitization of loanDepot personal loans coincides with the company’s nationwide workforce surpassing 5,000 employees, and the expansion of its Consumer Lending division to a new 40,000 square foot location in Orange County, CA.

This securitization of loanDepot personal loans arrives at a time when consumer demand for credit is on the rise.

 

 

Sponsored Links by DQ Promote