Marlette Funding

·Mar. 16, 2017

Kroll Bond Rating Agency Provides Ratings for Marlette Funding Securitization

Kroll Bond Rating Agency (KBRA) has provided ratings and released more details on Marlette Funding's Marlette Funding Trust 2017-1 (MFT 2017-1) securitization; the transaction is valued at $257.44 million and includes consumer loans from Marlette; the portfolio includes three tranches rated A to BB; the majority of the loans are contained in tranche A which accounts for 80%. Source

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News Roundup Online Lending USA

·Mar. 13, 2017

Marlette Funding Files for New Securitization

Marlette Funding has filed for a new securitization portfolio, Marlette Funding Trust 2017-1; the portfolio details were filed by Marlette Funding Depositor Trust; associated parties include Deutsche Bank Securities, Citigroup Global Markets and Goldman Sachs; the portfolio will contain unsecured consumer loans originated by Marlette. Source

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News Roundup Online Lending USA

·Mar. 16, 2017

Online Lender Marlette Funding Announces Reduction of Workforce

Marlette Funding has announced plans to cut one-fifth of its workforce as the company scraps plans for expansion to new verticals and remains focused on its online unsecured personal loans; the company has reported significant lending growth with over $3 billion in loans originated through its Best Egg brand in the first three years in business; the more conservative strategy follows some signs of increasing defaults, plans for new regulations and slowed capital investments. Source

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