Anthony Hsieh, CEO and founder of loanDepot, visited the studios of CNBC for a session of Power Lunch last week. Hsieh shared some perspective into his platform and the over $60 billion in loans it has provided since 2010. The non-bank lender explained the difference between a peer to peer type platform and one that uses their own balance sheet to provide loans. For personal loans, it takes just 3 t0 4 days via his platform. Try that at your local bank branch.
Asked why it is so hard to get an equity line these days? Hsieh responds;
“Because we are in the world of a post-crisis, we have Dodd-Frank, we have CFPB, we have quite a bit of regulation going on now …