The platform announced their latest securitization which is a $233.75 million deal; provisional ratings of AAA were given by both Moody’s and DBRS; this is CommonBond’s sixth transaction and they have now securitized a total of $1.22 billion in loans. Source
CommonBond has created a March Debtness bracket to look at the payoff rates of this year's March Madness basketball teams; the bracket identifies the time it takes for students to pay off their student loans; UCLA is CommonBond's current March Madness winner with the fastest payoff rate at 4.42 years. Source
CommonBond focuses on helping those with student loans better manage their debt. Earlier this week they released an interesting study...
CommonBond is receiving $750 million in lending capacity from Barclays, BMO, Citibank, Goldman Sachs and ING; CEO David Klein commented...
Last week TIME released their “TIME’s Genius List” for 2018, which includes 50 businesses inventing the future. This is the...
There is no question that student lending is a massive market and several companies in the online lending industry have been...
Back in March CommonBond closed a $50 million Series D investment that was led by the venture capital arm of...
The round was led by Fifth Third Capital Holdings LLC with First Republic Bank and Columbia Seligman Investments also participating; existing and individual investors Vikram Pandit and Tom Glocer also participated; total funding for the company is over $130 million; the company posted 250% revenue growth year over year in 2017 and has had only two defaults. Source
American Banker talks with David Klein, CEO of CommonBond about the fintech industry and his insight on the effects of a fintech charter; David Klein says company valuations across the industry are more realistic and the industry is maturing with more lending platform investments focused in later round fundraisings; explains the company's technology solution for employers adding student loan payment benefits; notes the company's default rate is zero; says the OCC fintech charter should give fintech companies better competitive market positioning and help to reduce costs. Source
CommonBond has laid off about 18 percent of their workforce as they restructure internally to prepare for what they believe...